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Supervision - Supervision of Financial Institutions

The Bank is entrusted with the supervision of credit institutions, money transfer companies, trust service providers, insurance companies and company pension funds on the basis of, respectively the State Ordinance on the Supervision of the Credit System (SOSCS) (AB 1998 no. 16), the State Ordinance on the Supervision of Money Transfer Companies (AB 2006 no 11), the State Ordinance on the Supervision of Trust Service Provider (in Dutch)  (English translation) (AB 2009 no. 13),  the State Ordinance on the Supervision of the Insurance Business (SOSIB) (AB 2000 no. 82) and the State Ordinance on Company Pension Funds (SOCPF) (AB 1998 GT 17 and AB 2001 no. 91).

Prudential supervision aims at preventing financial institutions from taking risks that could harm the interests of deposit and/ or policyholders and/or endanger the stability of the financial system. In view thereof, continuous off-site surveillance and periodic, risk-oriented on-site examinations are conducted. Furthermore regular bilateral meetings are held with the institutions concerned as well as with the representative organizations to discuss supervisory matters.

Maintaining the integrity of the financial system is a crucial aspect of prudential supervision. The state ordinances on the obligation to report unusual transactions and on the identification when providing services, together with the Bank's anti- money laundering directives, constitute the legal and regulatory anti-money laundering requirements to which banks, money transfer companies and insurance companies should adhere.

For more information on the Bank's supervisory activities, reference is made to chapter IV of its Annual Report.