On 7 December 2021, the Dutch Central Bank (De Nederlandsche Bank, DNB) published an updated version of its plan ‘Vision on Supervision’ (Visie op Toezicht) (the Plan). The Plan sets out the supervisory topics that DNB will be spearheading until 2024 (building on some topics which were included in the previous version) and provides insight into DNB’s risk-based supervisory approach.
DNB will be spearheading the following three topics:
- Responding to technological innovation: this includes the opportunities and risks brought about by increased use of data in the financial sector, intensifying the use of data in performing supervisory tasks and digital communication with the financial sector.
- Steering towards sustainability: this includes ensuring that the management of sustainability risks will be embedded by financial institutions, panning out robust international sustainability rules and regulations and ensuring that financial institutions are able to adapt to changing market conditions in line with their risk profile.
- Combating financial economic crime: this includes eliminating the unlawful use of the financial system by way of a more intensive supervisory approach (e.g. ensuring that the management of financial institutions are better involved and clearly responsible for the financial institutions’ responsibilities with regard to combating financial economic crime), applying smarter methods in supervision (e.g. contributing to cooperation between public and private sectors and supporting initiatives between financial institutions) and a more international approach when it comes to combating financial economic crime.