The Netherlands Bank (DNB)
Harnessing network theory for more prudent bank supervision
Closer supervisory activities and data-sharing post-crisis offer the potential to harness network techniques to gain an improved understanding of financial risks
Eurozone monetary policy works through credit channel, paper argues
Strong evidence eurozone monetary policy works through the credit channel rather than the interest rate channel, paper says; unconventional monetary policy strongest in crisis
DNB director targets better measurement of inclusion
Frank Elderson emphasises the benefits of financial inclusion and says central bank will put forward proposals for financial inclusion index later this week
Three eurozone central banks to trial reverse auctions of securities
The central banks of France, the Netherlands and Lithuania will hold reverse auctions of securities under the public sector purchase programme; trial will run for one month
DNB sizes up pension fund recovery plans
DNB assessment of recovery plans highlights funds do not intend to cut pensions in order to achieve new regulatory requirements
CoCo bonds decrease banks’ appetite for risk, paper argues
Convertible bonds decrease banks’ incentives to take risks in highly-leveraged states, a DNB working paper argues
Dutch paper contradicts ‘conventional view’ on fiscal adjustments
Working paper cannot rule out that increasing revenues is just as effective at bringing about fiscal adjustment as spending cuts
Dutch paper compares measures of systemic risk with market perceptions
Working paper notes the need for ‘careful consideration’ of the impact of prudential policies on both bank risk and systemic risk
Dutch bulletin: T2S can only succeed if ‘many’ CSDs sign up
The Netherlands Bank's latest bulletin highlights the importance of more CSDs in Europe signing up to the Target2-Securities platform since the initial migration in June
Dutch paper says theory of forward guidance must catch up with practice
Economists from the Netherlands Bank argue so-called Odyssean communication ‘does not exist in practice’ as central banks want to avoid committing themselves to a particular set of actions
Klaas Knot blames disharmony in regulation for higher risks
A lack of common standards in eurozone capital markets was an ‘aggravating factor’ in the run-up to the financial crisis, Dutch governor says; urges commission to add this to CMU proposals
New euro banknotes go down well in the Netherlands
Study conducted for the Netherlands Bank finds new €5 and €10 banknotes are more popular than their predecessors, though familiarity with design features remains low
Dutch committee recommends 90% LTV limit on mortgages
Netherlands financial stability committee advises government to gradually reduce loan-to-value limit to 90%, despite IMF recommending cut to 80%
Balance sheet policies may not be enough to lift expectations, Dutch research finds
Working paper analyses the impact of credit and quantitative easing policies on inflation expectations, finding central banks may need to do more to lift them
Eurozone moving towards ‘single market for collateral’, say central bankers
Panellists from Belgian, French and Dutch central banks discuss moves towards harmonised collateral markets in Europe at conference in Brussels
Constâncio tells national supervisors to ‘recognise and reciprocate’ regulatory measures
ECB vice-president suggests ‘automatic and mandatory reciprocity’ would benefit a range of macro-prudential measures in the eurozone; only one case of voluntary action to date
Dutch paper finds public campaigns can boost debit card use
Working paper examines a campaign run in the Netherlands in 2007, finding it led to debit card use increasing by 2%; effects most prominent at early stage of campaign
Dutch paper finds global banking system has adopted ‘a more regional focus’
Researchers say global banking has not become more fragmented, but has undergone some ‘important transformations’ since the crisis
Researchers find evidence of ‘European unemployment cycle’
Working paper published by The Netherlands Bank separates the different origins of unemployment in Europe, finding the continent- and country-level factors most influential
Dutch paper examines bank responses to wholesale funding shocks
Working paper published by The Netherlands Bank finds banks with large exposure to government bonds show ‘relatively stronger response’ to wholesale funding shocks
DNB paper calls for ‘fundamental overhaul' of Dutch pensions system
Central bank says current system has ‘opaque redistributive elements that are difficult to justify' and puts some generations ‘at a disadvantage in favour of others'
DNB bulletin: International cooperation ‘essential’ over cyber threats
Latest bulletin from The Netherlands Bank encourages both financial institutions and national authorities to collaborate more in bolstering defences against attacks
Netherlands Bank moves 122.5 tonnes of gold from New York to Amsterdam
Central bank will now keep 31% of its gold reserves in own country; move was designed to create a more even distribution of its reserves across the globe
Klaas Knot: It’s up to governments now
Netherlands Bank president tells parliament that European governments will have to boost growth and ‘stir up’ inflation themselves; latest central bank bulletin reinforces point