1 De Nederlandsche Bank still exists but many functions have been taken over by the ECB.
Headquarters in Amsterdam
De Nederlandsche Bank (DNB) is the central bank of the Netherlands. It is part of the European System of Central Banks (ESCB). De Nederlandsche Bank is a public limited company (Dutch: naamloze vennootschap) whose every day policy is overseen by the Governing Board. Being an NV, DNB has a Supervisory Board (Dutch: Raad van Commissarissen). In addition, there is an advisory body called the Bank Council (Dutch: Bankraad). As a public entity the DNB has a function as both part of the European System of Central Banks (ESCB) and an independent public body (Dutch: zelfstandig bestuursorgaan).
As a part of the ESCB, DNB is co-responsible for the determination and implementation of the monetary policy for the Euro area, besides being a link in the international payment system. As an independent public body, DNB exercises prudential supervision of financial institutions.[1]
Contents
1History
2Tasks of De Nederlandsche Bank
3List of Presidents of De Nederlandsche Bank
4See also
5References
6External links
History
On 2 May 1998, the European heads of state or government decided that the Economic and Monetary Union (EMU) would begin on 1 January 1999 with eleven Member States of the European Union (EU), the Netherlands included. As from 1 June 1998, the Dutch central bank, De Nederlandsche Bank N.V., forms part of the European System of Central Banks (ESCB). On the same day, the new Bank Act (of 1998) came into force. Nearly 185 years into its existence, the Nederlandsche Bank has entered a new phase.
Tasks of De Nederlandsche Bank
Under the 1998 Bank Act – replacing that of 1948 – the Bank has the following tasks:
Within the framework of the ESCB, the Bank shall contribute to the definition and implementation of monetary policy within the European Community (EC). The Bank has the objective to maintain price stability. Without prejudice to this objective, the Bank shall support the general economic policy in the EC.
The Bank shall hold and manage the official foreign reserves, and shall conduct foreign-exchange operations.
The Bank shall collect statistical data and produce statistics.
The Bank shall promote the smooth operation of payment systems; it shall take care of the banknote circulation.
The Bank shall supervise banks, investment institutions and exchange offices.
The Bank may, subject to permission by Royal Decree, perform other tasks in the public interest. The European Central Bank (ECB) may also ask the Bank to perform extra tasks.
The first two tasks – also known as the ESCB tasks – ensue entirely from the Maastricht Treaty. Decisions in these areas are taken at the European level by the ECB Governing Council, on which the President of the Nederlandsche Bank has a seat. Promoting the smooth operation of payment systems has both a European and a national dimension. The statistical task is also partly ESCB-related and partly a national concern. The DNB is responsible for international macro-economic statistical analysis for countries outside the EU.[2] These two tasks will not be transferred to ESCB level at the start of EMU. Here the Nederlandsche Bank remains fully in control. However, in a Europe where economies are becoming increasingly interlocked, many banking supervisory rules are drawn up at the international level. DNB serves as the banker's bank to general Dutch banks.
One of the government appointed members of the Social-Economic Council is always a representative of DNB.
List of Presidents of De Nederlandsche Bank
President of De Nederlandsche Bank
Term of office
Previous Experience(s)
Party
Dr. Marius Holtrop (1902–1988)
1 May 1946 – 1 May 1967 (21 years, 0 days)
Independent
Dr. Jelle Zijlstra (1918–2001)
1 May 1967 – 1 January 1982 (14 years, 245 days)
Minister of Economic Affairs (1952–1959) Minister of Finance (1958–1963) (1966–1967) Prime Minister (1966–1967)
^Ahmed, Asif (2010-07-02). "Analysis of the Mission Statement of the Commercial Banks of Bangladesh". Rochester, NY: Social Science Research Network. SSRN 1633225.
External links
Official site of De Nederlandsche Bank
European Central Bank
Dutch Bank Introduces "Climate Credit Card"
Documents and clippings about De Nederlandsche Bank in the 20th Century Press Archives of the German National Library of Economics (ZBW)
Chute spillway of Llyn Brianne dam in Wales A spillway is a structure used to provide the controlled release of flows from a dam or levee into a downstream area, typically the riverbed of the dammed river itself. In the United Kingdom, they may be known as overflow channels . Spillways ensure that the water does not overflow and damage or destroy the dam. Floodgates and fuse plugs may be designed into spillways to regulate water flow and reservoir level. Such a spillway can be used to regulate downstream flows – by releasing water in small amounts before the reservoir is full, operators can prevent sudden large releases that would happen if the dam were overtopped. Other uses of the term "spillway" include bypasses of dams or outlets of channels used during high water, and outlet channels carved through natural dams such as moraines. Water normally flows over a spillway only during flood periods – when the reservoir cannot hold the excess of water entering the reservoir ove...
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