In this semi-annual publication, De Nederlandsche Bank outlines developments that could potentially affect financial stability in the Netherlands. The Financial Stability Report is originally issued in Dutch as Overzicht Financiële Stabiliteit.
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DNB published its Financial Stability Report on 17 November 2025. The risks for financial stability in the Netherlands remain high amid persistent geopolitical tensions and global uncertainty about economic policies. Economic uncertainty is primarily driven by international trade and public finances. Despite the recent trade agreement between the United States and Europe, uncertainty surrounding tariffs remains significantly higher than a year ago, dampening consumer and business sentiment. Furthermore, geopolitical tensions may amplify risks through multiple channels, including price movements in financial markets and increasingly complex digital and hybrid threats. At the same time, pressures on the international legal order undermine global cooperation and the consistency of policy and regulatory frameworks.
Read more in the Financial Stability Report, available for download below.
Financial Stability Report Spring 2026
Cijferreeks OFS – voorjaar 2026 (English version forthcoming)
15 July 2026
News
In recent years, Dutch insurers and pension funds have been investing more in private assets, such as private equity and private credit. By 2025, they had a combined total of €276 billion worth of these investments on their books. While the rapid growth of private markets presents opportunities...
Read more Dutch insurers and pension funds are investing more and more in private assets.
12 June 2026
Background
Inflation and economic growth are linked to energy price movements. That is why we added two scenarios to our Spring Projections: an adverse and a severe scenario. Rather than predicting what will happen, they show what might happen if oil and gas prices stay high for longer and/or rise further.
Read more What if energy prices remain high for longer and uncertainty lingers?
12 June 2026
Background
Higher energy prices, uncertainty, and cautious consumers and businesses are holding back growth. Our Spring Projections show that the impact on inflation remains moderate for the time being. Below, we highlight the key developments in five figures.
Read more The five key figures on the Dutch economy
12 June 2026
Press release
Growth in the Dutch economy is expected to be significantly lower this year than in 2025. This is largely due to the war in the Middle East, which has also caused inflation to rise in recent months. This is evident from the Spring Projections, published today by De Nederlandsche Bank (DNB).
Read more War in the Middle East is holding back economic growth and driving up inflation