On 8 July 2016, the Dutch Minister of Finance (the Minister) published a letter addressed to the Dutch Parliament on the cost frameworks for the Netherlands Authority for the Financial Markets (De Autoriteit Financiële Markten, the AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB) for the period 2017 to 2020. The funding of DNB and the AFM is regulated in the Financial Supervision Funding Act (Wet bekostiging financieel toezicht, the Act). The Minister approves the annual budgets of DNB and the AFM on the basis of the Act. DNB and the AFM are bound to the (upper limits included in the) cost frameworks in setting their annual budget.
In his letter, the Minister indicates that both DNB and the AFM should reduce their supervision costs by each year. In 2017, this reduction should amount to 1.75%, while in in 2020 the reduction should be 7%.
View the Minister’s letter (Dutch only), 8 July 2016.