Credit crisis website updated: interest expense higher than dividend income

The Court of Audit on 5 June 2014 updated its dedicated website on the measures taken by the State for the financial sector since the outbreak of the credit crisis. The House of Representatives has been informed by letter.

The updated information shows that the interest expense borne by the State in 2013 for the measures it had taken was higher than the dividend income and interest it received from ABN AMRO and ASR (which the State acquired during the crisis). Most of the interest expense was paid in respect of the capital invested in ABN AMRO. The Minister of Finance does not inform the House of Representatives of the interest expense borne for each credit crisis measure.
At the end of 2013, the State’s cumulative receipts from capital investments and guarantees were higher than its outlay for the first time since 2008. The financial risk of the credit crisis to the State was again lower. In monetary terms, the exposure at the end of 2013 was €40.9 billion (year end 2012: €42.9 billion, year end 2009: €59.7 billion). This figure includes the cost of acquiring SNS REAAL. Guarantees are still outstanding to the value of €15.0 billion (year end 2012: €17.9 billion, year end 2009: €79.7 billion).

The Credit crisis website is only in Dutch available.