The Dutch central bank will ask the International Monetary Fund to conduct a thorough review of the bank's supervisory capabilities, part of a top-down reform after a scathing report was released earlier this year. De Nederlandsche Bank, or DNB, said late Tuesday night it would seek an updated review by the end of this year under the IMF's Financial Sector Assessment Program, with a specific focus on the DNB's supervisory role.
It would be the first assessment of the Netherlands under the program since September 2004, according to the program's website. "Supervision must be more penetrating, more critical and especially more tenacious," the DNB said in Tuesday's report. "This is in line with international trends." The central bank also said it would participate in peer reviews conducted by, among others, the Committee of European Banking Supervisors (CEBS) and the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS).