DNB Responds to the Court of Audit Report on Resolution of Banks
DNB notified that the Netherlands Court of Audit (ARK) published a report on banking resolution in the Netherlands. DNB has also responded to this report, which contains the results of investigation of the court of audit ARK into resolution planning by DNB for medium-size and small banks. The report notes that progress has been made in the resolution planning of medium-size and small banks, although all plans have yet been fully completed.
The report contains conclusions and recommendations on the organization of the resolution tasks. DNB agrees with the main conclusions and recommendations of the report. These have allowed DNB to gain increasingly better insight into the required capacity deployment, lead time, and prioritization of the resolution tasks. An improvement process has been rolled out to strengthen the process assurance and file management of resolution planning for the less significant institutions.
As a national resolution authority, DNB also contributes to resolution policy, frameworks, and planning for banks under the direct responsibility of the Single Resolution Board (SRB). DNB is responsible for the operational implementation of resolution for all banks in the Netherlands.
Related Link: Press Release (in Dutch)
Keywords: Europe, Netherlands, Banking, Netherlands Court of Audit, Less Significant Institutions, Resolution Planning, Resolution Framework, DNB
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