The Anti-Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme – Wwft) allows the laying down of further rules by ministerial regulation. The Regulation implementing the Wwft (Uitvoeringsregeling Wwft) uses this option.
It discusses exceptions to the customer due diligence requirements and provides for the option of simplified customer due diligence. It also elaborates on the statutory provisions governing customer identity verification, on the Committee on the obligation to disclose unusual transactions (Commissie inzake de meldingsplicht van ongebruikelijke transacties), and on a Wwft compliance exemption. In addition, the Regulation implements a number of technical amendments in various other ministerial and other regulations.
Liability-Driven Investment funds (LDI funds) mainly invest in long-term government bonds and long-term interest rate derivatives. The use of these interest rate derivatives exposes LDI funds to liquidity risks in case of large interest rate fluctuations.
Read more Limited liquidity risks in Euro LDI funds
On June 6th, DNB started the public consultation of the 2024 amendment round of the Deposit Guarantee Scheme (DGS) Policy Rules for banks. Parties are requested to submit responses to the consultation to DNB by 19 July at the latest.
Read more Start consultation amendments DGS Policy Rules 2024
This week, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published their final reports on greenwashing in the financial sector.
Read more European Supervisory Authorities publish reports on greenwashing in the financial sector
On 31 May 2023, DNB announced an increase of the countercyclical capital buffer (CCyB) to 2%. Banks with loans outstanding in the Netherlands must comply with this requirement by 31 May 2024. Since the previous CCyB announcement, the risk environment has not changed materially.
Read more DNB maintains Countercyclical Capital Buffer at 2% – May 2024
