Applications

There are two procedures for applications for the disbursement of compensation for the holders of expropriated SNS REAAL and SNS Bank subordinated bonds: a giro application procedure and a non-giro application procedure.

Giro application procedure

If you have hold expropriated SNS REAAL and SNS Bank subordinated bonds, which you have with a custodian, then you should follow the giro application procedure in the case of any claim within the giro system (linked to a securities account). You will be notified through your custodian how you may apply. Find out more about the giro application procedure.

If you cannot receive information through the giro system about how to apply for compensation (e.g., because you no longer have a securities account or in case you have, or if you have acquired one or more claims by means of an assignment), you may use the non-giro application procedure. The information through the giro system will follow in the week of May 15.

Non-giro application procedure

If you cannot receive information through the giro system about how to apply for compensation (e.g., because you no longer have a securities account or in case you have acquired one or more claims based on the expropriation of SNS REAAL and SNS Bank subordinated bonds from another person or organisation by means of an assignment since 1 March 2013), you should follow the so-called non-giro application procedure. As of 15 May 2023 you may submit your application for compensation on this website. Find out more about the non-giro application procedure, or go directly to the application portal.

Mentioned in a sanctions list

You may only apply through this website, if you are mentioned in one of the following sanctions lists: an NL, EU or UN sanctions list, the FATF grey list or the FATF blacklist. As such, you will not receive a SWIFT notice containing instructions either. Find out more about the non-giro application procedure. You may not apply by means of the giro application procedure.

If you are a holder of an unlisted subordinated bonds, issued by SNS Bank under the name ‘SNS Participatie Certificaten 3’, you will already have received an offer of compensation from SNS Bank in 2013. At the time it was agreed that, if the compensation offer was accepted, any entitlement to compensation which followed from proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal would partially cease to apply. Only if the compensation exceeds the previous compensation from SNS Bank, will you still be entitled to the difference. The Enterprise Chamber has set the compensation at the equivalent of 90% of the nominal value of the unlisted subordinated bonds, issued by SNS Bank under the name ‘SNS Participatie Certificaten 3’. Almost all of the holders of unlisted subordinated bonds issued under the name of ‘SNS Participatie Certificaten serie 3’ have received compensation at the rate of 90% or more of their nominal value. If you are still entitled to additional compensation, within four weeks after 21 April 2023 you will receive a letter from the Dutch Ministry of Finance containing additional information about the manner in which you may apply.

You will only be entitled to compensation and will receive a letter, provided that one of the following situations applies in your case:

• in 2013 you accepted a compensation offer from SNS Bank but you received less than 90% of the nominal value of the unlisted subordinated bonds, issued by SNS Bank under the name ‘SNS Participatie Certificaten 3’. In this case you are still entitled to a small amount of additional compensation, namely, the difference between the compensation stipulated in the proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal and that which you received from SNS Bank;
• you did not receive a compensation offer from SNS Bank in 2013. In this case you are entitled to the compensation stipulated in the proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal.

You will find a calculation example in the FAQ.

If you are a holder of (a claim based on) a certain expropriated loan provided to SNS Bank, within four weeks after 21 April 2023 you will receive a notice from the Ministry of Finance containing information about how you may apply. You will find an overview of the loans which qualify for compensation on the Compensation page.