Behind the scenes of the Dutch Central Bank
A lecture about the drive, dynamics and dilemmas of our central bank and supervisor. Joanne Kellerman discussed the role of DNB, the central bank in our country for already 200 years, and the dilemmas that a supervisor faces. How can be ensured that a supervisory intervention is rightly timed and that all interests involved are protected as much as possible?
- Joanne Kellermann
- 09 August 2014
Changing role of DNB
In recent years, much has been changed in the role of DNB as a national central bank and as a prudential supervisory authority. The introduction of the euro effected a major institutional change. DNB cooperates with other national central banks and the European Central Bank in the eurosystem. Together they look after the monetary policy in the euro area, with the primary objective of maintaining price stability. Following the financial crisis, the Central Bank has been heavily criticized. DNB took the criticism to heart and made many changes. The supervisor acts more proactively and preventively. For example, it is now also considering the business conduct and culture within financial institutions. What is the risk appetite, are the targets that are made feasible and are the rules laid down observed? Joanne Kellermann ended with a look at the future of DNB. The introduction of the banking union will shift supervisory powers to the European level. She stressed that DNB has not lost any of its relevance and that it will only become ever more important
Joanne Kellermann is executive director of DNB since 2007. Her responsibilities include pension supervision, insurance supervision and the centres of expertise for supervision. Her various additional positions include a seat on the Board of Supervisors of EIOPA (European Insurance and Occupational Pensions Authority) and on the Board of Governors of the Van Gogh Museum. Previously she was a partner in the NautaDutilh law firm.
Bank Recovery and Resolution Conference Book
On 23 May 2013, the Hazelhoff Centre for Financial Law at Leiden Law School organized its yearly conference, this time together with the Netherlands Association for Comparative and International Insolvency Law (NACIIL) on the highly topical theme of recovery and resolution of credit institutions and investment firms. Prior to the conference, the speakers had circulated their draft papers. Further to the discussions at the conference, speakers reviewed their work and the resulting papers have just been published as Bank Recovery and Resolution; A Conference Book (Matthias Haentjens and Bob Wessels, eds). The conference book is the second publication in The Hazelhoff Financial Law Series,
Hazelhoff Centre for Financial Law
Previous Hazelhoff Guest Lectures were given by, inter alia, Jan Kees de Jager, former Dutch Finance Minister, Rutger Schimmelpenninck and Ben Knüppe, liquidators in the bankruptcy of DSB Bank, and Nout Wellink, former chairman of De Nederlandsche Bank. The Hazelhoff Guest Lectures are organized by the Hazelhoff Centre for Financial Law. The Hazelhoff Centre for Financial Law provides academic education and performs research in the field of financial law.