Organisation

Legal and organisational form

De Nederlandsche Bank (DNB) is a public limited company (naamloze vennootschap) whose day-to-day policy rests with the Governing Board. Being an NV, DNB has a Supervisory Board (Raad van Commissarissen). In addition, there is an advisory body called the Bank Council (Bankraad).

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Governing Board

The day-to-day management of De Nederlandsche Bank (DNB) rests with the Governing Board, consisting of a President and a maximum of five Executive Directors. Governing Board members are appointed by the Crown, for seven-year tenures.

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Supervisory Board and Bank Council

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Governance

DNB is managed by a Governing Board formed by the President and four Executive Directors, each appointed by Royal Decree for a period of seven years. The Board operates to the principle of peer-based management. In a personal capacity, the President is a member of the Governing Council and the General Council of the ECB. The Supervisory Board supervises the management and general affairs of DNB and acts as advisor to the Governing Board.

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Corporate social responsibility

Social responsibility forms part ofDNB’s mission. We integrate and embed sustainability in all our operations and in the execution of our duties.By including CSR in the annual policy letter from the Governing Board and the business plans of the divisions,DNBhas anchored CSR to the key tasks of its business operations.

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Integrity

De Nederlandsche Bank (DNB) attaches high importance to its internal and external moral standing. The DNB Code of Conduct states: 'Honourable behaviour breeds trust, both in our institution and in the social and economic sphere.' The significance of moral conduct to DNB is also apparent from the fact that moral integrity is among DNB’s core values.

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Budget and accountability

Every year, De Nederlandsche Bank (DNB) draws up a budget of planned expenditures which is underlain by three questions: what does DNB wish to achieve and how, and what does it cost. The budget shows how the public objectives envisaged, the activities needed to realise these objectives and the costs involved interact.

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Eurosystem

De Nederlandsche Bank does a great deal of work in a European context. Since 1 January 1999 DNB has been a member of the Eurosystem. The other members are the European Central Bank and the central banks of the other countries that have introduced the euro as their national currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Portugal, Slovakia, Slovenia and Spain. The Eurosystem has adopted price stability as it mission.

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History

In 2004, De Nederlandsche Bank merged with the Pension and Insurance Supervisory Authority of the Netherlands, known as the PVK. The organisation thus created retained the name of ‘De Nederlandsche Bank’. The merger marked a new phase in the history of both institutions.

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