De Nederlandsche Bank (DNB) has a very diverse set of national and European tasks. That is why our organisational structure is special. Not only do we have an Executive Board and the Supervisory Board, there is also the general meeting and the Bank Council. On top of that, we take part in European decision-making.
The Executive Board is responsible for the correct execution of our tasks . In our Annual Report, it describes the results we have achieved. The Executive Board must also render account for those results to the general meeting each year. For its supervision, resolution and deposit guarantee tasks, it is accountable to the Minister of Finance and the Minister of Social Affairs and Employment. Our Executive Board is headed by the President. Board members are responsible for DNB's national tasks, which include supervision, financial stability, resolution and the Dutch payment system. They also have European responsibilities. Read more about the members of our Executive Board.
The Supervisory Board advises the Executive Board. Also, it supervises the Executive Board's management of DNB and its policy with respect to national tasks. The Supervisory Board does not supervise policy relating to monetary affairs and the European payment system. The Executive Board can take certain important decisions only following approval of the Supervisory Board. In addition, the budget and the financial statements can be adopted only following the approval of the Supervisory Board. One of the members of the Supervisory Board is appointed by the government and acts as a liaison with the Minister of Finance.
We have a special general meeting, because there is only one shareholder: the Dutch State, which is represented by the Minister of Finance. Adoption of the financial statements requires the approval of the general meeting. The general meeting also expresses an opinion on the Executive Board’s policy and the Supervisory Board's supervision in the preceding year. The general meeting also appoints the members of the Supervisory Board and the external auditor that audits the annual figures.
The Bank Council is a mixed group of external stakeholders. Their backgrounds are in science and various civil society organisations. They discuss DNB’s policy with the Executive Board.
Decision-making in Europe
Many decisions are taken at a European level. We play a prominent role in this context.
- The ECB's Governing Council decides on monetary policy. As DNB's President, Klaas Knot is automatically a member.
- The Supervisory Board of the ECB prepares decisions on banking supervision. Our Executive Director of Banking Supervision represents DNB on the Supervisory Board.
- The Single Resolution Board decides on appropriate resolution strategies for banks that are in difficulty. Our Executive Director of Resolution is a member.
Dutch Corporate Governance Code
We believe good corporate governance is of vital importance. That is why we apply the Dutch Corporate Governance Code on a voluntary basis, even if its application is only mandatory for listed corporations. We comply with the code to the extent that our special tasks allow us.
You can find more detailed information about our organisational structure in the document 'DNB organisational form and governance'. The rules that govern our organisational structure and governance are set out in the Bank Act 1998, the Articles of Association and other regulations based on them.
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