In the resolution of a bank, De Nederlandsche Bank (DNB) has recourse to two resolution funds if needed: the European Single Resolution Fund (SRF) and the National Resolution Fund (NRF).
The resolution authorities – DNB and the Single Resolution Board in Brussels – can use the SRF and the NRF under strict conditions, for example to grant loans to an ailing bank, to guarantee assets or to provide capital for a bridge bank. Banks and certain investment firms contribute to the funds.
The SRF is a European fund and is built up in 8 years (2016-2023) with a target level of 1% of all the money held in payment and savings accounts protected by deposit guarantee schemes in the euro area. In 2023 the fund has built up to over EUR 73 billion. This amount is raised by levying (partially risk-based) contributions from the banks and investment firms covered by the Single Resolution Mechanism (SRM). The SRF can be used for all banks covered by the SRM.
This fund was set up in 2015 to finance the application of resolution tools. In 2016 the SRF was established, effectively bringing the Dutch banks under its common European scope. Since then, the scope of the NRF has been limited to investment firms meeting start-up capital requirements and branch offices of non-EEA banks. The NRF is built up over ten years (2015-2024) from fixed (lumpsum) amounts that institutions must pay depending on their contribution base. This fund is ultimately expected to amount to roughly EUR 4 million in 2024. The NRF can only be used for the institutions that contribute to it. In Dutch, the official name of the NRF is ‘Afwikkelingsfonds’.
NRF Template 2024
Additional Assurance Requirements 2024
Annual report for 2023 for National Resolution Fund
Annual report for 2022 for National Resolution Fund
Annual report for 2021 for National Resolution Fund
Annual report for 2020 for National Resolution Fund
Annual report for 2019 for National Resolution Fund
Annual report for 2018 for National Resolution Fund
Annual report for 2017 for National Resolution Fund
Annual report for 2016 for National Resolution Fund
Thanks to buoyant stock markets worldwide, Dutch pension funds recorded strong price gains of almost €36 billion on their equity and investment fund shares, according to macroeconomic data from DNB.
Read more Dutch pension funds see assets grow due to price gains on equities
The Dutch conduit sector is shrinking faster than previously assumed. This is one of the findings of a five-yearly revision of the balance of payments figures, the results of which are being published by DNB today.
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‘Economic growth in the Netherlands is expected to pick up in the year ahead, spurring confidence in a “soft landing” for our economy.’ Klaas Knot said this today during the annual public session in the House of Representatives on macroeconomic risks to the financial system.
Read more Klaas Knot’s introductory statement for the Standing Parliamentary Committee for Finance
Higher mortgage rates over the past two years caused house prices to fall temporarily, but now they are rising. How can that be explained?
Read more Explanations for rapid recovery of house prices
