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ING Says Basel III Rules Could Hurt Capital Strength More Th

Financial News Network
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March 30, 2011 AT 8:31 PM
ING Groep (ING) ADRs are down after the Dutch financial services company said its capital strength under new Basel III rules may be damaged more than previously thought, Bloomberg reports. Citing a presentation on the bank's Web site, the report said that the requirements proposed under Basel III--if applied to the end of last year--have cut the firm's core Tier-1 ratio to 8.3% from 9.6%. ING ADRs are down 2.1%, or $0.28, to $12.96.