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161-490: The ING Group ( Dutch : ING Groep ) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam . Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$ 967.8 billion, it is one of the biggest banks in the world, and consistently ranks among

322-467: A schwa . The Middle Dutch dialect areas were affected by political boundaries. The sphere of political influence of a certain ruler often also created a sphere of linguistic influence, with the language within the area becoming more homogenous. Following the contemporary political divisions they are in order of importance: A process of standardisation started in the Middle Ages , especially under

483-490: A Dutch exonym for the various German dialects used in neighboring German states. Use of Nederduytsch was popular in the 16th century but ultimately lost out over Nederlands during the close of the 18th century, with (Hoog)Duytsch establishing itself as the Dutch exonym for German during this same period. In the 19th century Germany saw the rise of the categorisation of dialects, with German dialectologists terming

644-524: A comparison between the West Germanic languages, see the sections Phonology, Grammar, and Vocabulary. Dutch dialects are primarily the dialects that are both related with the Dutch language and are spoken in the same language area as the Dutch standard language . Although heavily under the influence of the standard language, some of them remain diverse and are found in the Netherlands and in

805-640: A differentiation with the Central and High Franconian in Germany. The latter would as a consequence evolve (along with Alemannic , Bavarian and Lombardic ) into Old High German. At more or less the same time the Ingvaeonic nasal spirant law, moving over Western Europe from west to east, led to the development of Old English (or Anglo-Saxon), Old Frisian and Old Saxon . Hardly influenced by either development, Old Dutch probably remained relatively close to

966-586: A fifth of the Indonesian language can be traced to Dutch, including many loan words . Indonesia's Civil Code has not been officially translated, and the original Dutch language version dating from colonial times remains the authoritative version. Up to half a million native speakers reside in the United States, Canada and Australia combined, and historical linguistic minorities on the verge of extinction remain in parts of France and Germany. Dutch

1127-566: A hub of European M&A activity, often facilitating the most capital movement and corporate restructuring in the area. Meanwhile, Asian cities are receiving a growing share of M&A activity. According to estimates published by the International Financial Services London , for the decade prior to the financial crisis in 2008, M&A was a primary source of investment banking revenue, often accounting for 40% of such revenue, but dropped during and after

1288-501: A hypothesis by De Grauwe, In northern West Francia (i.e. modern-day Belgium) the term would take on a new meaning during the Early Middle Ages , when, within the context of a highly dichromatic linguistic landscape, it came to be the antonym of *walhisk (Romance-speakers, specifically Old French ). The word, now rendered as dietsc (Southwestern variant) or duutsc (Central and Northern Variant), could refer to

1449-720: A key part of capital market transactions, involving debt structuring , exit financing, loan amendment, project finance , leveraged buy-outs , and sometimes portfolio hedging. The "Market Risk Team" provides services to investors via derivative solutions, portfolio management , portfolio consulting, and risk advisory. Well-known "Risk Groups" are at JPMorgan Chase , Morgan Stanley , Goldman Sachs and Barclays . J.P. Morgan IB Risk works with investment banking to execute transactions and advise investors, although its Finance & Operation risk groups focus on middle office functions involving internal, non-revenue generating, operational risk controls. The credit default swap , for instance,

1610-456: A key service in terms of advisory and strategy. While the research division may or may not generate revenue (based on the specific compliance policies at different banks), its resources are used to assist traders in trading, the sales force in suggesting ideas to customers, and investment bankers by covering their clients. Research also serves outside clients with investment advice (such as institutional investors and high-net-worth individuals) in

1771-527: A minority language in Germany and northern France's French Flanders . Though Belgium as a whole is multilingual, three of the four language areas into which the country is divided ( Flanders , francophone Wallonia , and the German-speaking Community ) are largely monolingual, with Brussels being bilingual. The Netherlands and Belgium produce the vast majority of music , films , books and other media written or spoken in Dutch. Dutch

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1932-670: A minority) and the province of Walloon Brabant . Brabantian expands into small parts in the west of Limburg while its strong influence on the East Flemish of East Flanders and eastern Zeelandic Flanders weakens towards the west. In a small area in the northwest of North Brabant ( Willemstad ), Hollandic is spoken. Conventionally, the Kleverlandish dialects are distinguished from Brabantian, but there are no objective criteria apart from geography to do so. Over 5 million people live in an area with some form of Brabantian being

2093-420: A number of closely related, mutually intelligible dialects spoken in the former Old Dutch area. Where Old Dutch fragments are very hard to read for untrained Modern Dutch speakers, the various literary works of Middle Dutch are somewhat more accessible. The most notable difference between Old and Middle Dutch is in a feature of speech known as vowel reduction , whereby vowels in unstressed syllables are leveled to

2254-495: A perfect West Germanic dialect continuum remained present; the division reflects the contingent future contribution dialect groups would have to the later languages. The early form of Dutch was a set of Franconian dialects spoken by the Salian Franks in the 5th century. These happened to develop through Middle Dutch to Modern Dutch over the course of fifteen centuries. During that period, they forced Old Frisian back from

2415-579: A political border, because the traditional dialects are strongly influenced by the national standard varieties. While a somewhat heterogeneous group of Low Franconian dialects, Limburgish has received official status as a regional language in the Netherlands and Germany, but not in Belgium. Due to this official recognition, it receives protection by chapter 2 of the European Charter for Regional or Minority Languages . Afrikaans , although to

2576-444: A range of products, from cash management to corporate finance. Elsewhere, it takes a more selective approach to clients and products. ING Wholesale Banking was strengthened in 1995, when ING took over Barings Bank . This acquisition increased the brand recognition of ING around the world and strengthened its Wholesale Banking presence in the emerging markets. Following the acquisition and up until 2004, ING's investment banking division

2737-516: A result of selling complex derivatives contracts to local municipalities in Europe and the US. Strategists advise external as well as internal clients on the strategies that can be adopted in various markets. Ranging from derivatives to specific industries, strategists place companies and industries in a quantitative framework with full consideration of the macroeconomic scene. This strategy often affects

2898-509: A result, when West Flemings try to talk Standard Dutch, they are often unable to pronounce the g-sound, and pronounce it similar to the h-sound. This leaves, for example, no difference between " held " (hero) and " geld " (money). Or in some cases, they are aware of the problem, and hyper-correct the "h" into a voiced velar fricative or g-sound, again leaving no difference. The West Flemish variety historically spoken in adjacent parts in France

3059-665: A revolution is when the Dutch standard language emerged and quickly established itself. The development of the Dutch language is illustrated by the following sentence in Old, Middle and Modern Dutch: Among the Indo-European languages , Dutch is grouped within the Germanic languages , meaning it shares a common ancestor with languages such as English, German, and the Scandinavian languages . All Germanic languages are subject to

3220-522: A significant degree mutually intelligible with Dutch, is usually not considered a dialect but instead a separate standardised language . It is spoken in South Africa and Namibia. As a daughter language of 17th-century Dutch dialects, Afrikaans evolved in parallel with modern Dutch, but was influenced by various other languages in South Africa. West Frisian ( Westerlauwers Fries ), along with Saterland Frisian and North Frisian , evolved from

3381-479: A somewhat different development since the late Middle Ages. Two dialect groups have been given the official status of regional language (or streektaal ) in the Netherlands. Like several other dialect groups, both are part of a dialect continuum that continues across the national border. The Dutch Low Saxon dialect area comprises the provinces of Groningen , Drenthe and Overijssel , as well as parts of

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3542-424: A source language, mainly for law and history students. In Indonesia this involves about 35,000 students. Unlike other European nations, the Dutch chose not to follow a policy of language expansion amongst the indigenous peoples of their colonies. In the last quarter of the 19th century, however, a local elite gained proficiency in Dutch so as to meet the needs of expanding bureaucracy and business. Nevertheless,

3703-503: A third from 2009, as companies pursued less deals and traded less. Differences in total revenue are likely due to different ways of classifying investment banking revenue, such as subtracting proprietary trading revenue. In terms of total revenue, SEC filings of the major independent investment banks in the United States show that investment banking (defined as M&A advisory services and security underwriting) made up only about 15–20% of total revenue for these banks from 1996 to 2006, with

3864-1318: A trader after he buys or sells a product to a client and does not hedge his total exposure. Here, and in general, banks seek to maximize profitability for a given amount of risk on their balance sheet. Note here that the FRTB framework has underscored the distinction between the " Trading book " and the " Banking book " - i.e. assets intended for active trading, as opposed to assets expected to be held to maturity - and market risk capital requirements will differ accordingly. The necessity for numerical ability in sales and trading has created jobs for physics , computer science , mathematics , and engineering PhDs who act as "front office" quantitative analysts . The securities research division reviews companies and writes reports about their prospects, often with "buy", "hold", or "sell" ratings. Investment banks typically have sell-side analysts which cover various industries. Their sponsored funds or proprietary trading offices will also have buy-side research. Research also covers credit risk , fixed income , macroeconomics , and quantitative analysis , all of which are used internally and externally to advise clients; alongside "Equity", these may be separate "groups". The research group(s) typically provide

4025-552: A unique prestige dialect and has a large dialectal continuum consisting of 28 main dialects, which can themselves be further divided into at least 600 distinguishable varieties. In the Netherlands, the Hollandic dialect dominates in national broadcast media while in Flanders Brabantian dialect dominates in that capacity, making them in turn unofficial prestige dialects in their respective countries. Outside

4186-513: Is Nederlands (historically Nederlandsch before the Dutch orthographic reforms ). Sometimes Vlaams (" Flemish ") is used as well to describe Standard Dutch in Flanders , whereas Hollands (" Hollandic ") is occasionally used as a colloquial term for the standard language in the central and northwestern parts of the Netherlands. English uses the adjective Dutch as a noun for

4347-537: Is kantor , handdoek "towel" in Indonesian is handuk , or bushalte "bus stop" in Indonesian is halte bus . In addition, many Indonesian words are calques of Dutch; for example, rumah sakit "hospital" is calqued on the Dutch ziekenhuis (literally "sickhouse"), kebun binatang "zoo" on dierentuin (literally "animal garden"), undang-undang dasar "constitution" from grondwet (literally "ground law"). These account for some of

4508-420: Is Sranan Tongo , spoken natively by about a fifth of the population. Investment banking Unlike commercial banks and retail banks , investment banks do not take deposits . The revenue model of an investment bank comes mostly from the collection of fees for advising on a transaction, contrary to a commercial or retail bank. From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by

4669-544: Is a monocentric language , at least what concerns its written form, with all speakers using the same standard form (authorised by the Dutch Language Union ) based on a Dutch orthography defined in the so-called " Green Booklet " authoritative dictionary and employing the Latin alphabet when writing; however, pronunciation varies between dialects. Indeed, in stark contrast to its written uniformity, Dutch lacks

4830-498: Is a commodity business, but structuring and trading derivatives have higher margins because each over-the-counter contract has to be uniquely structured and could involve complex pay-off and risk profiles. One growth area is private investment in public equity (PIPEs, otherwise known as Regulation D or Regulation S). Such transactions are privately negotiated between companies and accredited investors . Banks also earned revenue by securitizing debt, particularly mortgage debt prior to

4991-399: Is a division of ING Bank (Australia) Limited. ING-DiBa is Germany's third biggest bank by the number of customers (c. 9 million). In 2016, the bank reported total assets of €158 billion and had around 3,900 employees. ING bought 49% of Allgemeine Deutsche Direktbank AG in 1998, which as of 1989 traded as DiBa. It acquired a further 21% of the company in 2002 and the remainder by 2003. By 2007,

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5152-685: Is a famous credit risk hedging solution for clients invented by J.P. Morgan's Blythe Masters during the 1990s. The Loan Risk Solutions group within Barclays' investment banking division and Risk Management and Financing group housed in Goldman Sach's securities division are client-driven franchises. Risk management groups such as credit risk, operational risk, internal risk control, and legal risk are restrained to internal business functions — including firm balance-sheet risk analysis and assigning

5313-791: Is a reference to the Low Countries' downriver location at the Rhine–Meuse–Scheldt delta near the North Sea . From 1551, the designation Nederlands received strong competition from the name Nederduytsch (literally "Low Dutch", Dutch being used in its archaic sense covering all continental West Germanic languages). It is a calque of the aforementioned Roman province Germania Inferior and an attempt by early Dutch grammarians to give their language more prestige by linking it to Roman times. Likewise, Hoogduits ("High German") and Overlands ("Upper-landish") came into use as

5474-537: Is also an official language of several international organisations, such as the European Union , Union of South American Nations and the Caribbean Community . At an academic level, Dutch is taught in about 175 universities in 40 countries. About 15,000 students worldwide study Dutch at university. In Europe, Dutch is the majority language in the Netherlands (96%) and Belgium (59%) as well as

5635-578: Is buying and selling products. Sales is the term for the investment bank's sales force, whose primary job is to call on institutional and high-net-worth investors to suggest trading ideas (on a caveat emptor basis) and take orders. Sales desks then communicate their clients' orders to the appropriate trading rooms , which can price and execute trades, or structure new products that fit a specific need. Sales make deals tailored to their corporate customers' needs, that is, their terms are often specific. Focusing on their customer relationship, they may deal on

5796-444: Is classed as either "sell side" or "buy side". The " sell side " involves trading securities for cash or for other securities (e.g. facilitating transactions, market-making), or the promotion of securities (e.g. underwriting, research, etc.). The " buy side " involves the provision of advice to institutions that buy investment services. Private equity funds, mutual funds , life insurance companies, unit trusts , and hedge funds are

5957-565: Is directly supervised by the European Central Bank . In 2020, ING had 53.2 million clients in more than 40 countries. The company is a component of the Euro Stoxx 50 stock market index . The long-term debt for the company as of December 2019 is €150 billion. ING is an abbreviation for Internationale Nederlanden Groep ( lit.   ' International Netherlands Group ' ). The orange lion on ING's logo alludes to

6118-587: Is found in the Salic law . In this Frankish document written around 510 the oldest Dutch sentence has been identified: Maltho thi afrio lito ("I say to you, I free you, serf") used to free a serf. Another old fragment of Dutch is Visc flot aftar themo uuatare ("A fish was swimming in the water"). The oldest conserved larger Dutch text is the Utrecht baptismal vow (776–800) starting with Forsachistu diobolae ... ec forsacho diabolae (litt.: "Forsake you

6279-531: Is headed jointly by Maurits Duynstee (Head of Corporate Finance, Continental Western Europe) and Pierre Chabrelie (Head of Corporate Finance, UK and CEE). ING Corporate Finance has a strong presence in Russia and Central and Eastern Europe. ING's insurance business operates throughout America, Asia and Europe. In 2009, ING announced plans to separate its insurance business from its main banking operations through two IPO's, one for Europe and Asia and another one for

6440-627: Is mostly recorded on fragmentary relics, and words have been reconstructed from Middle Dutch and Old Dutch loanwords in French. Old Dutch is regarded as the primary stage in the development of a separate Dutch language. It was spoken by the descendants of the Salian Franks who occupied what is now the southern Netherlands , northern Belgium , part of northern France, and parts of the Lower Rhine regions of Germany. The High German consonant shift, moving over Western Europe from south to west, caused

6601-486: Is not a comprehensive summary of all middle-office functions within an investment bank, as specific desks within front and back offices may participate in internal functions. The back office data-checks trades that have been conducted, ensuring that they are not wrong, and transacts the required transfers. Many banks have outsourced operations. It is, however, a critical part of the bank. Every major investment bank has considerable amounts of in-house software , created by

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6762-491: Is one of the closest relatives of both German and English, and is colloquially said to be "roughly in between" them. Dutch, like English, has not undergone the High German consonant shift , does not use Germanic umlaut as a grammatical marker, has largely abandoned the use of the subjunctive , and has levelled much of its morphology , including most of its case system . Features shared with German, however, include

6923-408: Is raised for the corporation include those listed aside. This work may involve, i.a., subscribing investors to a security issuance, coordinating with bidders, or negotiating with a merger target. A pitch book , also called a confidential information memorandum (CIM), is a document that highlights the relevant financial information, past transaction experience, and background of the deal team to market

7084-569: Is so distinct that it might be considered as a separate language variant, although the strong significance of language in Belgian politics would prevent the government from classifying them as such. An oddity of the dialect is that, the voiced velar fricative (written as "g" in Dutch) shifts to a voiced glottal fricative (written as "h" in Dutch), while the letter "h" becomes mute (like in French). As

7245-585: Is sometimes called French Flemish and is listed as a French minority language . However, only a very small and aging minority of the French-Flemish population still speaks and understands West Flemish. Hollandic is spoken in Holland and Utrecht , though the original forms of this dialect (which were heavily influenced by a West Frisian substratum and, from the 16th century on, by Brabantian dialects ) are now relatively rare. The urban dialects of

7406-637: Is spoken in Limburg (Belgium) as well as in the remaining part of Limburg (Netherlands) and extends across the German border. West Flemish ( Westvlaams ) is spoken in West Flanders , the western part of Zeelandic Flanders and also in French Flanders , where it virtually became extinct to make way for French. The West Flemish group of dialects, spoken in West Flanders and Zeeland ,

7567-595: Is taught in various educational centres in Indonesia, the most important of which is the Erasmus Language Centre (ETC) in Jakarta . Each year, some 1,500 to 2,000 students take Dutch courses there. In total, several thousand Indonesians study Dutch as a foreign language. Owing to centuries of Dutch rule in Indonesia, many old documents are written in Dutch. Many universities therefore include Dutch as

7728-414: Is the third most spoken Germanic language. In Europe, Dutch is the native language of most of the population of the Netherlands and Flanders (which includes 60% of the population of Belgium ). Dutch was one of the official languages of South Africa until 1925, when it was replaced by Afrikaans , a separate but partially mutually intelligible daughter language of Dutch. Afrikaans, depending on

7889-404: Is the case with the ( standardised ) West Frisian language . It is spoken alongside Dutch in the province of Friesland . Dutch dialects and regional languages are not spoken as often as they used to be, especially in the Netherlands. Recent research by Geert Driessen shows that the use of dialects and regional languages among both Dutch adults and youth is in heavy decline. In 1995, 27 percent of

8050-646: Is the control function for the Markets' business and conducts review of sales and trading activities utilizing the VaR model . Other Middle office "Risk Groups" include country risk, operational risk, and counterparty risks which may or may not exist on a bank to bank basis. Front office risk teams, on the other hand, engage in revenue-generating activities involving debt structuring, restructuring, syndicated loans , and securitization for clients such as corporates, governments, and hedge funds. Here "Credit Risk Solutions", are

8211-440: Is the new name for ING Commercial Banking as of 20 January 2016. The new name better reflects the large corporate and institutional, international offering that makes up the vast majority of ING WB's business. ING's Corporate Finance department advises businesses on important corporate transactions, including mergers and acquisitions, initial public offerings, secondary offerings, share buy-backs and management buy-outs. The division

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8372-530: Is the sole official language, and over 60 percent of the population speaks it as a mother tongue . Dutch is the obligatory medium of instruction in schools in Suriname, even for non-native speakers. A further twenty-four percent of the population speaks Dutch as a second language . Suriname gained its independence from the Netherlands in 1975 and has been an associate member of the Dutch Language Union since 2004. The lingua franca of Suriname, however,

8533-545: The Nationale-Nederlanden insurance company. Nationale-Nederlanden expanded significantly during the 1970s and 1980s. In 1881, the Dutch government created the Rijkspostspaarbank , a postal savings system to encourage workers to start saving. Four decades later, they added Postcheque and Girodienst services allowing working families to make payments via post offices. Separately in 1927,

8694-531: The 2006 New Zealand census , 26,982 people, or 0.70 percent of the total population, reported to speak Dutch to sufficient fluency that they could hold an everyday conversation. In contrast to the colonies in the East Indies , from the second half of the 19th century onwards, the Netherlands envisaged the expansion of Dutch in its colonies in the West Indies . Until 1863, when slavery was abolished in

8855-455: The Brussels and Flemish regions of Belgium . The areas in which they are spoken often correspond with former medieval counties and duchies. The Netherlands (but not Belgium) distinguishes between a dialect and a streektaal (" regional language "). Those words are actually more political than linguistic because a regional language unites a large group of very different varieties. Such is

9016-481: The Dutch Language Union . The Dutch Caribbean municipalities ( St. Eustatius , Saba and Bonaire ) have Dutch as one of the official languages. In Asia, Dutch was used in the Dutch East Indies (now mostly Indonesia ) by a limited educated elite of around 2% of the total population, including over 1 million indigenous Indonesians, until it was banned in 1957, but the ban was lifted afterwards. About

9177-748: The Gramm–Leach–Bliley Act , the United States maintained a separation between investment banking and commercial banks. Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 ( Dodd–Frank Act of 2010 ), the Volcker Rule asserts some institutional separation of investment banking services from commercial banking. All investment banking activity

9338-601: The Grimm's law and Verner's law sound shifts, which originated in the Proto-Germanic language and define the basic features differentiating them from other Indo-European languages. This is assumed to have taken place in approximately the mid-first millennium BCE in the pre-Roman Northern European Iron Age . The Germanic languages are traditionally divided into three groups: East (now extinct), West , and North Germanic. They remained mutually intelligible throughout

9499-591: The Low Franconian languages, paired with its sister language Limburgish or East Low Franconian. Its closest relative is the mutually intelligible daughter language Afrikaans. Other West Germanic languages related to Dutch are German , English and the un-standardised languages Low German and Yiddish . Dutch stands out in combining some Ingvaeonic characteristics (occurring consistently in English and Frisian and reduced in intensity from west to east over

9660-603: The Migration Period . Dutch is part of the West Germanic group, which also includes English, Scots , Frisian , Low German (Old Saxon) and High German . It is characterised by a number of phonological and morphological innovations not found in North or East Germanic. The West Germanic varieties of the time are generally split into three dialect groups: Ingvaeonic (North Sea Germanic), Istvaeonic (Weser–Rhine Germanic) and Irminonic (Elbe Germanic). It appears that

9821-531: The Randstad , which are Hollandic dialects, do not diverge from standard Dutch very much, but there is a clear difference between the city dialects of Rotterdam , The Hague , Amsterdam and Utrecht . In some rural Hollandic areas more authentic Hollandic dialects are still being used, especially north of Amsterdam. Another group of dialects based on Hollandic is that spoken in the cities and larger towns of Friesland , where it partially displaced West Frisian in

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9982-603: The Securities Association of China is a self-regulatory organization whose members are largely investment banks. Global investment banking revenue increased for the fifth year running in 2007, to a record US$ 84 billion, which was up 22% on the previous year and more than double the level in 2003. Subsequent to their exposure to United States sub-prime securities investments, many investment banks have experienced losses. As of late 2012, global revenues for investment banks were estimated at $ 240 billion, down about

10143-723: The Silesian Bank 's majority shareholder . In 2001 Bank Śląski merged with ING Bank N.V. Branch in Warsaw . Since then, the bank is operating under the name of ING Bank Śląski . ING offers branchless banking with operations in Australia, Italy, Spain, Germany and Austria. It offers services over the counter, web, phone, ATM or by mail. The service concentrates on simple interest-bearing savings accounts for retail customers. Originally created as ING Direct , these branches were renamed to ING between 2017 and 2019. ING in Australia

10304-543: The Southern Netherlands (now Belgium and Luxembourg), developments were different. Under subsequent Spanish , Austrian and French rule , the standardisation of Dutch language came to a standstill. The state, law, and increasingly education used French, yet more than half the Belgian population were speaking a variety of Dutch. In the course of the 19th century, the Flemish Movement stood up for

10465-471: The continental West Germanic plane) with dominant Istvaeonic characteristics, some of which are also incorporated in German. Unlike German, Dutch (apart from Limburgish) has not been influenced at all by the south to north movement of the High German consonant shift and had some changes of its own. The cumulation of these changes resulted over time in separate, but related standard languages with various degrees of similarities and differences between them. For

10626-434: The differences in vocabulary between Indonesian and Malay. Some regional languages in Indonesia have some Dutch loanwords as well; for example, Sundanese word Katel or "frying pan" origin in Dutch is " ketel ". The Javanese word for "bike/ bicycle " " pit " can be traced back to its origin in Dutch " fiets ". The Malacca state of Malaysia was also colonized by the Dutch in its longest period that Malacca

10787-634: The financial crisis of 2007–08 and the subsequent passage of the Dodd-Frank Act of 2010 , regulations have limited certain investment banking operations, notably with the Volcker Rule's restrictions on proprietary trading. The traditional service of underwriting security issues has declined as a percentage of revenue. As far back as 1960, 70% of Merrill Lynch 's revenue was derived from transaction commissions while "traditional investment banking" services accounted for 5%. However, Merrill Lynch

10948-468: The largest banks globally . ING is the Dutch member of the Inter-Alpha Group of Banks , a co-operative consortium of 11 prominent European banks. Since the creation in 2012, ING Bank is a member in the list of global systemically important banks . It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence

11109-518: The 14th to 15th century onward, its urban centers ( Deventer , Zwolle , Kampen , Zutphen and Doesburg ) have been increasingly influenced by the western written Dutch and became a linguistically mixed area. From the 17th century onward, it was gradually integrated into the Dutch language area. Dutch Low Saxon used to be at one end of the Low German dialect continuum . However, the national border has given way to dialect boundaries coinciding with

11270-538: The 16th century and is known as Stadsfries ("Urban Frisian"). Hollandic together with inter alia Kleverlandish and North Brabantian , but without Stadsfries, are the Central Dutch dialects . Brabantian is named after the historical Duchy of Brabant , which corresponded mainly to the provinces of North Brabant and southern Gelderland , the Belgian provinces of Antwerp and Flemish Brabant , as well as Brussels (where its native speakers have become

11431-547: The Dutch Government. The plan supplied €10 billion (US$ 13.5 billion) to the operation, in exchange for securities and veto rights on major operational changes and investments. The European Commission also required ING to divest itself of its insurance and investment management operations by the end of 2013 as a condition of approving the state aid. In December 2009, ING raised €7.3 billion through share issues, and repurchased securities representing half of

11592-417: The Dutch adult population spoke a dialect or regional language on a regular basis, but in 2011, that was no more than 11 percent. In 1995, 12 percent of children of primary school age spoke a dialect or regional language, but in 2011, that had declined to four percent. Of the officially recognised regional languages Limburgish is spoken the most (in 2011 among adults 54%, among children 31%) and Dutch Low Saxon

11753-512: The Dutch government initiated a re-organization of Dutch banks which resulted in the creation of the Nederlandsche Middenstands Bank (NMB) . NMB provided retail banking services in the Netherlands and abroad. In 1986, post office banking services were privatized as Postbank N.V. and three years later it would merge with NMB bank to form NMB Postbank Groep . In 1991, the banking business of NMB Postbank Groep and

11914-490: The Dutch government remained reluctant to teach Dutch on a large scale for fear of destabilising the colony. Dutch, the language of power, was supposed to remain in the hands of the leading elite. After independence, Dutch was dropped as an official language and replaced by Indonesian , but this does not mean that Dutch has completely disappeared in Indonesia: Indonesian Dutch , a regional variety of

12075-548: The Dutch language itself, as well as a broader Germanic category depending on context. During the High Middle Ages " Dietsc / Duutsc " was increasingly used as an umbrella term for the specific Germanic dialects spoken in the Low Countries , its meaning being largely implicitly provided by the regional orientation of medieval Dutch society: apart from the higher echelons of the clergy and nobility, mobility

12236-415: The Dutch standard language is largely absent, and speakers of these Dutch dialects will use German or French in everyday speech. Dutch is not afforded legal status in France or Germany, either by the central or regional public authorities, and knowledge of the language is declining among younger generations. As a foreign language , Dutch is mainly taught in primary and secondary schools in areas adjacent to

12397-531: The Dutch standard language, it is not mutually intelligible with Dutch and considered a sister language of Dutch, like English and German. Approximate distribution of native Dutch speakers worldwide: Dutch is an official language of the Netherlands proper (not enshrined in the constitution but in administrative law ), Belgium, Suriname, the Dutch Caribbean municipalities (St. Eustatius, Saba and Bonaire), Aruba , Curaçao and Sint Maarten . Dutch

12558-408: The Dutch, was still spoken by about 500,000 half-blood in Indonesia in 1985. Yet the Indonesian language inherited many words from Dutch: words for everyday life as well as scientific and technological terms. One scholar argues that 20% of Indonesian words can be traced back to Dutch words, many of which are transliterated to reflect phonetic pronunciation e.g. kantoor "office" in Indonesian

12719-853: The EU demanded changes to the company structure, including the sale of insurance businesses in Latin America, Asia, Canada, Australia and New Zealand and ING Direct units in the US, Canada and the UK. This included the sale of the ING Direct US operations to Capital One , ING Direct Canada to Scotiabank (d/b/a Tangerine ) and the ING Direct UK operations to Barclays bank in 2012. The spun-off insurance businesses in North America were renamed Voya Financial in 2014. In April 2016, ING sold

12880-861: The European Commission in 2012. In July 2011, ING sold all its Latin American insurance operations to the Colombian insurance company Grupo Sura for US$ 3.85 billion, excluding ING's 36 percent holding in Brazilian insurer SulAmérica Seguros , which was sold at a later date. The actions were in line with EU demands to split the Group's banking and insurance operations as a condition of Dutch state aid. In 2013, ING reduced its stake in SulAmérica Seguros by 7.2%. On 12 June 2012,

13041-756: The Frankish tribes fit primarily into the Istvaeonic dialect group with certain Ingvaeonic influences towards the northwest, which are still seen in modern Dutch. The Frankish language itself is not directly attested, the only possible exception being the Bergakker inscription , found near the Dutch city of Tiel , which may represent a primary record of 5th-century Frankish. Although some place names recorded in Roman texts such as vadam (modern Dutch: wad , English: "mudflat"), could arguably be considered as

13202-407: The German dialects spoken in the mountainous south of Germany as Hochdeutsch ("High German"). Subsequently, German dialects spoken in the north were designated as Niederdeutsch ("Low German"). The names for these dialects were calqued by Dutch linguists as Nederduits and Hoogduits . As a result, Nederduits no longer serves as a synonym for the Dutch language. In the 19th century,

13363-462: The Low Countries. In fact, Old Frankish could be reconstructed from Old Dutch and Frankish loanwords in Old French. The term Old Dutch or Old Low Franconian refers to the set of Franconian dialects (i.e. West Germanic varieties that are assumed to have evolved from Frankish ) spoken in the Low Countries during the Early Middle Ages , from around the 5th to the 12th century. Old Dutch

13524-916: The National Investment Banking Association (NIBA). In Europe, the European Forum of Securities Associations was formed in 2007 by various European trade associations. Several European trade associations (principally the London Investment Banking Association and the European SIFMA affiliate) combined in November 2009 to form the Association for Financial Markets in Europe (AFME). In the securities industry in China ,

13685-576: The Netherlands and Flanders . In French-speaking Belgium , over 300,000 pupils are enrolled in Dutch courses, followed by over 23,000 in the German states of Lower Saxony and North Rhine-Westphalia , and about 7,000 in the French region of Nord-Pas-de-Calais (of which 4,550 are in primary school). At an academic level, the largest number of faculties of neerlandistiek can be found in Germany (30 universities), followed by France (20 universities) and

13846-412: The Netherlands and Belgium, the dialect spoken in and around the German town of Kleve ( Kleverlandish ) is historically and genetically a Low Franconian variety. In North-Western France, the area around Calais was historically Dutch-speaking (West Flemish), of which an estimated 20,000 are daily speakers. The cities of Dunkirk , Gravelines and Bourbourg only became predominantly French-speaking by

14007-504: The Netherlands of 1845") was founded. It grew to be the leading Dutch insurance company with branches outside the Netherlands (139 the world over by 1900). It later changed its name to "De Nederlanden van 1845". Two decades later, in 1863, the life insurance company Nationale Levensverzekerings Bank ("National Life Insurance Bank") was founded in Rotterdam. These two insurance companies made multiple acquisitions, and in 1963 merged to form

14168-539: The Netherlands, ING is the largest retail bank by market share, holding 40% of current account deposits, and by total assets. ING is followed by Rabobank (30%), ABN AMRO (20%), and others (10%). ING Belgium is the Belgian subsidiary of ING Group. The bank was formerly known as Bank Brussel Lambert (BBL) which became part of ING Group in 1998. It provides retail and commercial banking services to individuals and businesses in Belgium, together with related financial products such as insurance and asset management. BBL

14329-539: The Netherlands, although there are recognisable differences in pronunciation, comparable to the pronunciation differences between standard British and standard American English. In 1980 the Netherlands and Belgium concluded the Language Union Treaty . This treaty lays down the principle that the two countries must gear their language policy to each other, among other things, for a common system of spelling. Dutch belongs to its own West Germanic sub-group,

14490-439: The Netherlands, in processing US dollar payments and trade finance transactions through the United States. In addition, ING Bank's senior management in France authorised, advised in the creation of, and ultimately provided fraudulent endorsement stamps for use by Cuban financial institutions in processing travelers check transactions, which disguised the involvement of Cuban banks in these transactions when they were processed through

14651-806: The US Department of the Treasury's Office of Foreign Assets Control announced a US$ 619 million settlement with ING Bank N.V. to settle potential liability for conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities. ING Bank settled at

14812-453: The US. ING Bank's Trade and Commodity Finance business at its Wholesale Banking branch in the Netherlands routed payments made on behalf of US-sanctioned Cuban clients through other corporate clients to obscure the sanctioned clients' identities and its Romanian branch omitted details from a letter of credit involving a US financial institution to finance the exportation of US-origin goods to Iran. Other notable activities: In 2013, ING U.S.

14973-485: The US. The EuroAsia IPO has been delayed while the US IPO is supposed to be completed by the end of 2012. Analysts estimate that the insurance arm is worth up to €16 billion. As of February 2009, ING Canada (the insurance arm) is no longer a subsidiary of ING Group. ING Group's 70% equity interest was spun off for US$ 2.2 billion. The company (which has an 11% share of Canada's property and casualty insurance market)

15134-607: The United Kingdom (5 universities). Despite the Dutch presence in Indonesia for almost 350 years, as the Asian bulk of the Dutch East Indies , the Dutch language has no official status there and the small minority that can speak the language fluently are either educated members of the oldest generation, or employed in the legal profession such as historians, diplomats, lawyers, jurists and linguists/polyglots, as certain law codes are still only available in Dutch. Dutch

15295-462: The United States must be a licensed broker-dealer and subject to U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulation. The Dutch East India Company was the first company to issue bonds and shares of stock to the general public. It was also the first publicly traded company , being the first company to be listed on an official stock exchange . Investment banking has changed over

15456-618: The United States, commercial banking and investment banking were separated by the Glass–Steagall Act , which was repealed in 1999. The repeal led to more " universal banks " offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions and hiring. Notable full-service investment banks with a significant investment banking division (IBD) include JPMorgan Chase , Bank of America , Citigroup , Deutsche Bank , UBS (Acquired Credit Suisse ), and Barclays . After

15617-621: The West Indies, slaves were forbidden to speak Dutch, with the effect that local creoles such as Papiamento and Sranan Tongo which were based not on Dutch but rather other European languages, became common in the Dutch West Indies. However, as most of the people in the Colony of Surinam (now Suriname ) worked on Dutch plantations, this reinforced the use of Dutch as a means for direct communication. In Suriname today, Dutch

15778-571: The acquisition of ReliaStar and Aetna 's Financial Services unit. It also acquired the Polish Bank Śląski and Mexican insurance company Seguros Comercial América . The 1995 purchase of Barings Bank for one pound after its dramatic failure led to a boost in the company's investment banking business. Expanding its retail banking business overseas, ING used the direct banking business model it had developed with NMB Postbank to launch direct banking in other countries. The first of these

15939-407: The bank to a potential M&A client; if the pitch is successful, the bank arranges the deal for the client. Recent legal and regulatory developments in the U.S. will likely alter the makeup of the group of arrangers and financiers willing to arrange and provide financing for certain highly leveraged transactions. On behalf of the bank and its clients, a large investment bank's primary function

16100-420: The bank was negligent in preventing money laundering. Between 2010 and 2016, clients misused accounts at ING to launder hundreds of millions of euros. In February 2018, ING bought fintech company Payvision founded by Rudolf Booker for 350 million. As of 2022, ING operates in the following countries: Following the separation of ING Group into ING Bank and ING Insurance, the head office of ING Bank and ING Group

16261-444: The bank's profitability. See also Chinese wall § Finance . This area of the bank includes treasury management , internal controls (such as Risk), and internal corporate strategy. Corporate treasury is responsible for an investment bank's funding, capital structure management, and liquidity risk monitoring; it is (co)responsible for the bank's funds transfer pricing (FTP) framework. Internal control tracks and analyzes

16422-624: The borders of other standard language areas. In most cases, the heavy influence of the standard language has broken the dialect continuum . Examples are the Gronings dialect spoken in Groningen as well as the closely related varieties in adjacent East Frisia (Germany). Kleverlandish is a dialect spoken in southern Gelderland , the northern tip of Limburg , and northeast of North Brabant (Netherlands), but also in adjacent parts of North Rhine-Westphalia (Germany). Limburgish ( Limburgs )

16583-418: The business district of Zuidas in Amsterdam , Netherlands from 2012 to 2014. It was designed by Roberto Meyer and Jeroen van Schooten ( Meyer en Van Schooten  [ nl ] ) and was officially opened on 16 September 2002 by then Prince Willem-Alexander of the Netherlands . In October 2008, in a move to increase its core Tier 1 capital ratio above 8%, ING Group accepted a capital injection plan from

16744-413: The capital flows of the firm, the finance division is the principal adviser to senior management on essential areas such as controlling the firm's global risk exposure and the profitability and structure of the firm's various businesses via dedicated trading desk product control teams. In the United States and United Kingdom, a comptroller (or financial controller) is a senior position, often reporting to

16905-479: The case with the Gronings dialect , which is considered a variety of the Dutch Low Saxon regional language, but it is relatively distinct from other Dutch Low Saxon varieties. Also, some Dutch dialects are more remote from the Dutch standard language than some varieties of a regional language are. Within the Netherlands, a further distinction is made between a regional language and a separate language, which

17066-512: The chief financial officer. Risk management involves analyzing the market and credit risk that an investment bank or its clients take onto their balance sheet during transactions or trades. Middle office "Credit Risk" focuses around capital markets activities, such as syndicated loans , bond issuance, restructuring , and leveraged finance. These are not considered "front office" as they tend not to be client-facing and rather 'control' banking functions from taking too much risk. "Market Risk"

17227-431: The collapse of several notable investment banks, such as the bankruptcy of Lehman Brothers (one of the largest investment banks in the world) and the hurried fire sale of Merrill Lynch and the much smaller Bear Stearns to much larger banks, which effectively rescued them from bankruptcy. The entire financial services industry, including numerous investment banks, was bailed out by government taxpayer funded loans through

17388-631: The common people". The term was used as opposed to Latin , the non -native language of writing and the Catholic Church . It was first recorded in 786, when the Bishop of Ostia writes to Pope Adrian I about a synod taking place in Corbridge , England , where the decisions are being written down " tam Latine quam theodisce " meaning "in Latin as well as common vernacular". According to

17549-691: The company was trading under the name ING-DiBa. In November 2018, the bank changed its brand name to ING. Founded in 2001, ING in Italy has around 1.3 million customers. It is currently opening its own "bank shops" in the major towns, where customers can operate services on usual web channels, assisted or not by branch operators, and use advanced teller machines for cash and check transactions. Operates exclusively through mobile app. ING has two offices in Taguig, Metro Manila; World Plaza Building and Arthaland Century Pacific Tower. Mobile system started in 2019 prior to

17710-483: The declaration of independence of Indonesia, Western New Guinea , the "wild east" of the Dutch East Indies , remained a Dutch colony until 1962, known as Netherlands New Guinea . Despite prolonged Dutch presence, the Dutch language is not spoken by many Papuans, the colony having been ceded to Indonesia in 1963. Dutch-speaking immigrant communities can also be found in Australia and New Zealand. The 2011 Australian census showed 37,248 people speaking Dutch at home. At

17871-602: The definition used, may be considered a sister language , spoken, to some degree, by at least 16 million people, mainly in South Africa and Namibia , and evolving from Cape Dutch dialects. In South America, it is the native language of the majority of the population of Suriname , and spoken as a second or third language in the polyglot Caribbean island countries of Aruba , Curaçao and Sint Maarten . All these countries have recognised Dutch as one of their official languages, and are involved in one way or another in

18032-474: The devil? ... I forsake the devil"). If only for its poetic content, the most famous Old Dutch sentence is probably Hebban olla vogala nestas hagunnan, hinase hic enda tu, wat unbidan we nu ("All birds have started making nests, except me and you, what are we waiting for"), is dated to around the year 1100, written by a Flemish monk in a convent in Rochester , England . Since the sentence speaks to

18193-489: The end of the 19th century. In the countryside, until World War I , many elementary schools continued to teach in Dutch, and the Catholic Church continued to preach and teach the catechism in Dutch in many parishes. During the second half of the 19th century, Dutch was banned from all levels of education by both Prussia and France and lost most of its functions as a cultural language. In both Germany and France,

18354-399: The financial crisis. Equity underwriting revenue ranged from 30% to 38%, and fixed-income underwriting accounted for the remaining revenue. Revenues have been affected by the introduction of new products with higher margins ; however, these innovations are often copied quickly by competing banks, pushing down trading margins. For example, brokerages commissions for bond and equity trading

18515-495: The financial crisis. Investment banks have become concerned that lenders are securitizing in-house, driving the investment banks to pursue vertical integration by becoming lenders, which has been allowed in the United States since the repeal of the Glass–Steagall Act in 1999. According to The Wall Street Journal , in terms of total M&A advisory fees for the whole of 2020, the top ten investment banks were as listed in

18676-455: The group's Dutch origins. ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government. In 1991, the insurance branch of Nationale-Nederlanden and the banking branch of "NMB Postbank Groep" merged. NMB stands for "Nederlandsche Middenstands Bank". In 1845, the fire insurance company Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845 ("Fire Insurance Company of

18837-416: The hopes that these clients will execute suggested trade ideas through the sales and trading division of the bank, and thereby generate revenue for the firm. With MiFID II requiring sell-side research teams in banks to charge for research, the business model for research is increasingly becoming revenue-generating. External rankings of researchers are becoming increasingly important, and banks have started

18998-415: The imagination, it is often erroneously stated as the oldest Dutch sentence. Old Dutch naturally evolved into Middle Dutch . The year 1150 is often cited as the time of the discontinuity, but it actually marks a time of profuse Dutch writing; during this period a rich Medieval Dutch literature developed. There was at that time no overarching standard language ; Middle Dutch is rather a collective name for

19159-711: The influence of the Burgundian Ducal Court in Dijon ( Brussels after 1477). The dialects of Flanders and Brabant were the most influential around this time. The process of standardisation became much stronger at the start of the 16th century, mainly based on the urban dialect of Antwerp . The 1585 fall of Antwerp to the Spanish army led to a flight to the northern Netherlands, where the Dutch Republic declared its independence from Spain. This influenced

19320-511: The instruction of senior bank management, ING Bank employees in Curaçao began processing payments for ING Bank's Cuban banking operations through its branch in Curaçao on behalf of Cuban customers without reference to the payments' origin. The practice of removing and omitting such information was used by other branches of ING Bank's Wholesale Banking Division, including in France, Belgium, and

19481-623: The insurance business of Nationale-Nederlanden were merged to create ING Group . Since the ING Group was founded, it has made many acquisitions: ING Group expanded its international business through several acquisitions through the 1990s including the Belgian bank Banque Bruxelles Lambert (BBL) in 1998, US-based insurance company Equitable of Iowa and the commercial bank Furman Selz . It also acquired Frankfurt-based BHF-Bank in 1999, although it disposed of this later. It increased its Latin American and Asia Pacific insurance businesses with

19642-588: The language of the Netherlands and Flanders. The word is derived from Proto-Germanic *þiudiskaz . The stem of this word, *þeudō , meant "people" in Proto-Germanic, and *-iskaz was an adjective-forming suffix, of which -ish is the Modern English form. Theodiscus was its Latinised form and used as an adjective referring to the Germanic vernaculars of the Early Middle Ages . In this sense, it meant "the language of

19803-589: The last shares in NN Group, making it exclusively a bank again. Since the largest settlement ever in the Netherlands by Vimpelcom in 2016, its house banker ING has also come under fire from the Public Prosecutor's Office. As a result of the Vimpelcom case, among others, it was announced in 2018 that ING reached a €775 million settlement with the Public Prosecutor's Office. According to the prosecution,

19964-629: The least (adults 15%, children 1%). The decline of the West Frisian language in Friesland occupies a middle position (adults 44%, children 22%). Dialects are most often spoken in rural areas, but many cities have a distinct city dialect. For example, the city of Ghent has very distinct "g", "e" and "r" sounds that greatly differ from its surrounding villages. The Brussels dialect combines Brabantian with words adopted from Walloon and French . Some dialects had, until recently, extensions across

20125-400: The majority of revenue (60+% in some years) brought in by "trading" which includes brokerage commissions and proprietary trading; the proprietary trading is estimated to provide a significant portion of this revenue. The United States generated 46% of global revenue in 2009, down from 56% in 1999. Europe (with Middle East and Africa ) generated about a third, while Asian countries generated

20286-430: The most common types of buy-side entities . An investment bank can also be split into private and public functions with a screen separating the two to prevent information from crossing. The private areas of the bank deal with private insider information that may not be publicly disclosed, while the public areas, such as stock analysis, deal with public information. An advisor who provides investment banking services in

20447-619: The oldest single "Dutch" words, the Bergakker inscription yields the oldest evidence of Dutch morphology. However, interpretations of the rest of the text lack any consensus. The Franks emerged in the southern Netherlands ( Salian Franks ) and central Germany ( Ripuarian Franks ), and later descended into Gaul . The name of their kingdom survives in that of France. Although they ruled the Gallo-Romans for nearly 300 years, their language, Frankish , became extinct in most of France and

20608-611: The open market, a highly regulated process by the SEC to ensure transparency is provided to investors. Therefore, investment bankers play a very important role in issuing new security offerings. Front office is generally described as a revenue -generating role. There are two main areas within front office: investment banking and markets. Corporate finance is the aspect of investment banks which involves helping customers raise funds in capital markets and giving advice on mergers and acquisitions (M&A); transactions in which capital

20769-627: The original language of the Franks. However, the language did experience developments of its own, such as very early final-obstruent devoicing . In fact, the find at Bergakker indicates that the language may already have experienced this shift during the Old Frankish period. Attestations of Old Dutch sentences are extremely rare. The language is mostly recorded on fragmentary relics, and words have been reconstructed from Middle Dutch and loan words from Old Dutch in other languages. The oldest recorded

20930-430: The pandemic, and offered one of the highest interest rates for the first few months of operations. It was one of the first banks that allowed check deposits via image capture using a mobile phone. ING Wholesale Banking provides banking and financial services to corporations and other institutions. The primary geographic focus of the wholesale banking business is the Netherlands, Belgium, Poland and Romania, where it offers

21091-527: The predominant colloquial language out of the area's 22 million Dutch-speakers. Limburgish , spoken in both Belgian Limburg and Netherlands Limburg and in adjacent parts in Germany, is considered a dialect in Belgium, while having obtained the official status of regional language in the Netherlands. Limburgish has been influenced by the Ripuarian varieties like the Colognian dialect , and has had

21252-477: The process of monetizing research publications, client interaction times, meetings with clients etc. There is a potential conflict of interest between the investment bank and its analysis, in that published analysis can impact the performance of a security (in the secondary markets or an initial public offering) or influence the relationship between the banker and its corporate clients, and vice versa regarding material non-public information (MNPI), thereby affecting

21413-411: The provinces of Gelderland , Flevoland , Friesland and Utrecht . This group, which is not Low Franconian but instead Low Saxon and close to neighbouring Low German, has been elevated by the Netherlands (and by Germany) to the legal status of streektaal ( regional language ) according to the European Charter for Regional or Minority Languages . It is regarded as Dutch for a number of reasons. From

21574-498: The remaining 21%. The industry is heavily concentrated in a small number of major financial centers, including New York City , City of London , Frankfurt , Hong Kong , Singapore , and Tokyo . The majority of the world's largest Bulge Bracket investment banks and their investment managers are headquartered in New York and are also important participants in other financial centers. The city of London has historically served as

21735-423: The rights of Dutch speakers, mostly referred to as "Flemish". However, the dialect variation was a serious disadvantage in the face of the standardised francophony . Since standardisation is a lengthy process, Dutch-speaking Belgium associated itself with the standard language that had already developed in the Netherlands over the centuries. Therefore, the situation in Belgium is essentially no different from that in

21896-524: The same branch of the West Germanic languages as Old English (i.e. Anglo-Frisian ) and are therefore genetically more closely related to English and Scots than to Dutch. The different influences on the respective languages, however, particularly that of Norman French on English and Dutch on West Frisian, have rendered English quite distinct from West Frisian, and West Frisian less distinct from Dutch than from English. Although under heavy influence of

22057-740: The same time with OFAC, the US Attorney's Office for the District of Columbia, the New York County District Attorney's Office and the Department of Justice's National Security Division and Justice's Asset Forfeiture and Money Laundering Section. Under the settlement agreement, ING Bank is required to conduct a review of, and to submit a report to the Treasury Department. Beginning in the 1990s, at

22218-410: The survival of two to three grammatical genders  – albeit with few grammatical consequences  – as well as the use of modal particles , final-obstruent devoicing , and (similar) word order . Dutch vocabulary is mostly Germanic; it incorporates slightly more Romance loans than German, but far fewer than English. In Belgium, the Netherlands and Suriname, the native official name for Dutch

22379-708: The table below. Many of these firms belong either to the Bulge Bracket (upper tier), Middle Market (mid-level businesses), or are elite boutique investment banks (independent advisory investment banks). The above list is just a ranking of the advisory arm (M&A advisory, syndicated loans, equity capital markets, and debt capital markets) of each bank and does not include the generally much larger portion of revenues from sales & trading and asset management . Mergers and acquisitions and capital markets are also often covered by The Wall Street Journal and Bloomberg . The financial crisis of 2007–2008 led to

22540-614: The technology team, who are also responsible for technical support . Technology has changed considerably in the last few years as more sales and trading desks are using electronic processing. Some trades are initiated by complex algorithms for hedging purposes. Firms are responsible for compliance with local and foreign government regulations and internal regulations. The investment banking industry can be broken up into Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique market (specialized businesses) categories. There are various trade associations throughout

22701-404: The term " Diets " was revived by Dutch linguists and historians as well, as a poetic name for Middle Dutch and its literature . Old Dutch can be discerned more or less around the same time as Old English (Anglo-Saxon), Old High German , Old Frisian , and Old Saxon . These names are derived from the modern standard languages . In this age no standard languages had yet developed, while

22862-465: The trading cap — that are independent of client needs, even though these groups may be responsible for deal approval that directly affects capital market activities. Similarly, the Internal corporate strategy group, tackling firm management and profit strategy, unlike corporate strategy groups that advise clients, is non-revenue regenerating yet a key functional role within investment banks. This list

23023-484: The urban dialects of the province of Holland . In 1637, a further important step was made towards a unified language, when the Statenvertaling , the first major Bible translation into Dutch, was created that people from all over the new republic could understand. It used elements from various, even Dutch Low Saxon , dialects but was predominantly based on the urban dialects of Holland of post 16th century. In

23184-408: The way the firm will operate in the market, the direction it would like to take in terms of its proprietary and flow positions, the suggestions salespersons give to clients, as well as the way structurers create new products. Banks also undertake risk through proprietary trading , performed by a special set of traders who do not interface with clients and through "principal risk"—risk undertaken by

23345-435: The western coast to the north of the Low Countries, and influenced or even replaced Old Saxon spoken in the east (contiguous with the Low German area). On the other hand, Dutch has been replaced in adjacent lands in present-day France and Germany. The division into Old, Middle and Modern Dutch is mostly conventional, since the transition between them was very gradual. One of the few moments when linguists can detect something of

23506-605: The whole range of asset types. (In distinction, trades negotiated by market-makers usually bear standard terms; in market making , traders will buy and sell financial products with the goal of making money on each trade. See under trading desk .) Structuring has been a relatively recent activity as derivatives have come into play, with highly technical and numerate employees working on creating complex structured products which typically offer much greater margins and returns than underlying cash securities, so-called "yield enhancement". In 2010, investment banks came under pressure as

23667-689: The world which represent the industry in lobbying , facilitate industry standards, and publish statistics. The International Council of Securities Associations (ICSA) is a global group of trade associations. In the United States, the Securities Industry and Financial Markets Association (SIFMA) is likely the most significant; however, several of the large investment banks are members of the American Bankers Association Securities Association (ABASA), while small investment banks are members of

23828-489: The years, beginning as a partnership firm focused on underwriting security issuance, i.e. initial public offerings (IPOs) and secondary market offerings , brokerage , and mergers and acquisitions, and evolving into a "full-service" range including securities research , proprietary trading , and investment management . In the 21st century, the SEC filings of the major independent investment banks such as Goldman Sachs and Morgan Stanley reflect three product segments: In

23989-526: The €10 billion in state aid. It repurchased another €2 billion in May 2011 (at a 50% premium), and looked to complete the repayments by May 2012. However, in January 2012 it cited eurozone conditions in putting the repayment timetable as 2012–2013 for the remaining €3 billion. The final tranche of €1.025 billion was paid on 7 November 2014, half a year ahead of the repayment schedule as agreed with

24150-837: Was a relatively "retail-focused" firm with a large brokerage network. Investment banking is split into front office , middle office , and back office activities. While large service investment banks offer all lines of business, both "sell side" and "buy side", smaller sell-side advisory firms such as boutique investment banks and small broker-dealers focus on niche segments within investment banking and sales/trading/research, respectively. For example, Evercore (NYSE:EVR) acquired ISI International Strategy & Investment (ISI) in 2014 to expand their revenue into research-driven equity sales and trading. Investment banks offer services to both corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on

24311-590: Was called ING Barings, at which point it severed its ties with the Barings name and combined with ING's other wholesale banking operations. However, the top floor of ING's London office is still home to the famous Baring art collection, and the Baring Foundation, a charitable foundation. Wholesale Banking is divided into a number of sub-divisions, including Structured Finance, Financial Markets, Transaction Services and Corporate Finance. ING Wholesale Banking

24472-571: Was created in 1975 from the merger of Banque de Bruxelles and Banque Lambert . It made a 2021 profit of €948 million. ING has a 17% stake in the Bank of Beijing , the largest urban commercial bank in China. In Thailand, ING has a 30% stake in TMB Bank , a universal banking platform with a nationwide network. In 2013 ING announced intent to sell its stake in TMB bank. In Poland, the group in 1996 became

24633-657: Was established in 1999 and is headquartered in Sydney, offering banking online and via telephone. Its products in Australia include transaction accounts, savings accounts, credit card, business accounts, term deposits, home loans and superannuation. Company operations are regulated by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission , Federal Government regulators. ING

24794-416: Was gradually replaced by the Dutch endonym Nederlands . This designation (first attested in 1482) started at the Burgundian court in the 15th century, although the use of neder , laag , bas , and inferior ("nether" or "low") to refer to the area known as the Low Countries goes back further in time, with the Romans referring to the region as Germania Inferior ("Lower" Germania). It

24955-413: Was largely static and hence while "Dutch" could by extension also be used in its earlier sense, referring to what today would be called Germanic dialects as opposed to Romance dialects , in many cases it was understood or meant to refer to the language now known as Dutch. In the Low Countries Dietsch or its Early Modern Dutch form Duytsch as an endonym for Dutch gradually went out of common use and

25116-413: Was replaced by later forms of the language throughout Luxembourg and Germany in around the 7th century. It was replaced in France by Old French (a Romance language with a considerable Old Frankish influence). However, the Old Franconian language did not die out at large, as it continued to be spoken in the Low Countries, and subsequently evolved into what is now called Old Low Franconian or Old Dutch in

25277-418: Was set up in Canada in 1997, and was soon followed in several other countries including the US, UK, Germany, Spain, Italy, France and Australia. In 2008, as part of the 2007–2008 financial crisis , ING Group, together with many other major banks in the Netherlands, took a capital injection from the Dutch Government. This support increased ING's capital ratio above 8%, however as a condition of Dutch state aid,

25438-573: Was spun off in an initial public offering ahead of its planned rebranding as Voya Financial . As of 2014, ING Group is no longer the controlling shareholder of its former subsidiary, owning 47% of its shares. Separate to ING Direct businesses, ING offers retail banking services in Australia, Austria, Belgium, Czech Republic, Germany, Poland, Italy, Luxembourg, Netherlands, Romania, Spain, Turkey and Philippines. Non-retail private banking services are offered in Netherlands, Belgium, Luxembourg, Switzerland and various countries in Asia and Central Europe. In

25599-435: Was the Amsterdamse Poort building. ING's corporate head office is situated in Cumulus Park, Amsterdam's innovation district in the south-east of the city. The five-storey building has a glass facade and is named after the Cedar tree, symbolising sustainability and growth. Its framework, with its layered branches and open spaces in between, is characteristic of a Cedar. ING House was the head office of NN Group and located in

25760-407: Was then renamed Intact Financial Corporation in May 2009. ING Group continued to operate ING Bank of Canada, also known as ING Direct Canada. Dutch language Dutch ( endonym : Nederlands [ˈneːdərlɑnts] ) is a West Germanic language of the Indo-European language family , spoken by about 25 million people as a first language and 5 million as a second language and

25921-417: Was under foreign control. In the 19th century, the East Indies trade started to dwindle, and with it the importance of Malacca as a trading post. The Dutch state officially ceded Malacca to the British in 1825. It took until 1957 for Malaya to gain its independence. Despite this, the Dutch language is rarely spoken in Malacca or Malaysia and only limited to foreign nationals able to speak the language. After

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