DNB Publishes Supervisory Priorities for 2020
DNB published its supervisory priorities for the year ahead, with respect to both prudential and integrity supervision. In 2020, DNB will be focusing specifically on data quality, management, and use. DNB will adopt a more data-driven approach and focus on the use of digital technologies in its supervision. DNB is also in the process of transforming into a smart supervisor. In line with its digital strategy, DNB aims to fully utilize its technological opportunities by automating routine tasks where possible and by adopting a data-driven approach as part of the new supervisory methodology.
Considering the ongoing developments, DNB will continue to respond to technological innovation, focus on future-orientedness and sustainability, and remain strict on financial and economic crime. DNB will also continue to work closely with other regulators in 2020 and will will strengthen its cooperation with the sector to build on its knowledge of the impact and opportunities of technological innovations. DNB will do so via the Innovation Forum (iForum), which was launched in 2019 and is a joint partnership of banks, insurers, pension funds, and payment institutions. This year, DNB plans to start supervising crypto institutions under the anti-money laundering directive (AMLD 5). With regard to sustainable finance, DNB anchored identification and control of climate risks to a large degree in the supervision of banks, insurers, and pension funds. In 2020, DNB will assess the extent to which banks take climate-related risks into account in their internal risk assessment.
Related Links
- Press Release
- Supervisory Outlook for 2020 (PDF in Dutch)
Keywords: Europe, Netherlands, Banking, Insurance, Pensions, Fintech, Supervisory Priorities, Big Data, Automation, AMLD 5, ESG, Climate Change Risks, DNB
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