On July 11, the Dutch Central Bank published industry-wide guidelines regarding the treatment of banks in Solvency II ratios. As a consequence, Aegon will include Aegon Bank in the calculation of its Group Solvency II ratio going forward. This presentational change has no impact on Aegon’s capital allocation decisions.
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This change will be implemented ultimately by the end of 2020. The estimated negative impact of the change, based on Aegon's capital position per March 31, 2020, is 4 percentage points on the Group Solvency II ratio, which was reported at 208%.