EU Banking and Finance Regulatory Newsletter - July 2019 - Key regulatory developments in the Netherlands

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Dutch Central Bank

16/07/2019

DNB published a working paper regarding security design and credit rating risk in the collateralized loan obligation (CLO) market.

In this paper, DNB explored the effect of the complexity of a security’s design on hypotheses relating to credit rating shopping and rating catering in the CLO market in the period before and after the global financial crisis in 2007. In sum, the policy implication is that, to effectively regulate CLOs, the regulatory environment ought to differentiate between complex and non-complex CLOs.

For further information in English, click here.

Dutch Central Bank

11/07/2019

Financial Stability Review (OFS) published

On June 5, the DNB published its Financial Stability Review (OFS). The OFS warns that due to low interest rates and ample liquidity ratios, financial markets are developing exuberantly with no incentive to reduce debt. In the event of a reversal in sentiment in financial markets, triggered by e.g. an unexpected adjustment of monetary policy or by a major crisis, financial stability could be endangered.

For further information in Dutch, click here.

Dutch Central Bank

26/06/2019

The Dutch Central Bank (DNB) submitted the Regulation on specific provisions CRD IV and CRR 2019 for consultation. This consultation will run until 1 August 2019

In the Regulation on Specific Provisions CRD IV and CRR 2019 (Rsb-2019), the DNB sets out how it implements options and discretions arising from the Capital Requirements Directive (CRD IV) and the Capital Requirements Regulation (CRR).

For further information in Dutch, click here.

Ministry of Finance and Ministry of Justice and Security

30/06/2019

A joint plan of action to prevent money laundering was published by the Minister of Justice and Security and the Minister of Finance

The Minister of Justice and Security and the Minister of Finance have presented a joint plan of action to prevent money laundering via the Dutch financial system and to detect and prosecute criminals and those who facilitate them. In annex 1 to the joint plan of action, the ministers examined six forms of information exchange to increase the performance of customer due diligence. In annex 2 to the joint plan of action, the minister argues in favour of a harmonised approach in the form of a European AML/CFT supervisory mechanism.

For further information in Dutch, click here, here, and here.

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