Rabobank Group

2-12-2010 | Press Releases

Rabobank utilised the Fed’s short-term loan facilities during the credit crisis as did hundreds of other banks. This was not done out of necessity at the time, but rather as a precautionary measure in keeping with the bank’s prudent policy. These facilities were consequently intended solely as security in the event that the situation on the financial markets deteriorated further. Rabobank no longer uses these facilities.

The amount of USD 23 billion stated in the 2 December 2010 issue of Het Financiële Dagblad creates a distorted picture because this amount is a cumulative total of ten separate transactions conducted in the period 2008-2009. The maximum amount at any one moment totalled USD 7 billion. In relation to the Rabobank Group’s balance sheet total, this consequently involved extremely modest amounts with maturities of less than three months.