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De Nederlandsche Bank NV (DNB) is the
central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...
of the
Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...
. Founded by King William I in 1814, it is part of the
European System of Central Banks The European System of Central Banks (ESCB) is an institution that comprises the European Central Bank (ECB) and the national central banks (NCBs) of all 27 member states of the European Union (EU). Its objective is to ensure price stability t ...
(ESCB). De Nederlandsche Bank is a
public limited company A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be fre ...
(
Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () Dutch may also refer to: Places * Dutch, West Virginia, a community in the United States * Pennsylvania Dutch Country People E ...
: '' naamloze vennootschap'', abbreviated NV) whose everyday policy is overseen by the Governing Board. Being a public limited company, DNB has a
Supervisory Board In corporate governance, a governance board also known as council of delegates are chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and fire the board of directors. In civil s ...
(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
eurozone The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU polici ...
, besides being a link in the
international payment system An international monetary system is a set of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between states that have d ...
. As an independent public body, DNB exercises prudential supervision of financial institutions.


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 The European System of Central Banks (ESCB) is an institution that comprises the European Central Bank (ECB) and the national central banks (NCBs) of all 27 member states of the European Union (EU). Its objective is to ensure price stability t ...
(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

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. 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 The Social and Economic Council ( Dutch: ''Sociaal-Economische Raad'', SER) is a major economic advisory council to the cabinet of the Netherlands. Formally it heads a system of sector-based regulatory organisations. It represents the social pa ...
is always a representative of DNB.


Head office

The bank was established from the start on , where it occupied 17th-century houses. In the 1860s, a purpose-built head office, designed by architect , was erected on the same location and inaugurated in 1869. Nearly a century later in 1968, as the bank has left the building for its new seat, it was taken over by the
University of Amsterdam The University of Amsterdam (abbreviated as UvA, nl, Universiteit van Amsterdam) is a public research university located in Amsterdam, Netherlands. The UvA is one of two large, publicly funded research universities in the city, the other being ...
which had long been established just nearby, and subsequently repurposed as the location of the
Allard Pierson Museum The Allard Pierson Museum is the archaeological museum of the University of Amsterdam. It is situated at the Oude Turfmarkt 127 in Amsterdam, the Netherlands. Artifacts from the ancient civilizations of ancient Egypt, the Near East, the Greek ...
, which opened there in October 1976. In the 1960s, a new head office complex was constructed on and inaugurated by
Queen Juliana Juliana (; Juliana Louise Emma Marie Wilhelmina; 30 April 1909 – 20 March 2004) was Queen of the Netherlands from 1948 until her abdication in 1980. Juliana was the only child of Queen Wilhelmina and Prince Henry of Mecklenburg-Schwerin. S ...
in May 1968. Architect 's stark design of 1961 consisted on a low square base and a rectangular office tower. In the late 1980s, as the bank was running out of space, it was complemented with a second, oval tower designed in 1984 by architects and Marc a Campo, whose construction was finished in 1989. In 2008, Marc a Campo designed a further extension by adding an extra floor to the square base. In a comprehensive renovation during the early 2020s, the oval tower was demolished and the base remodeled to return the building to an exterior appearance more similar to the original one of the 1960s. File:De Nederlandsche Bank, Oude Turfmarkt 127-129, met links de kraamkliniek in aanbouw.jpg, DNB head office at time of inauguration, 1869 File:Nederlandsche Bank.jpg, Old head office in 2006, repurposed as
Allard Pierson Museum The Allard Pierson Museum is the archaeological museum of the University of Amsterdam. It is situated at the Oude Turfmarkt 127 in Amsterdam, the Netherlands. Artifacts from the ancient civilizations of ancient Egypt, the Near East, the Greek ...
File:Bouw van het nieuwe kantoor van de Nederlandse Bank aan het Frederiksplein vanaf, Bestanddeelnr 915-5861.jpg, Construction works, 1963 File:Overzicht Frederiksplein, Bestanddeelnr 920-2053.jpg, New head office complex, 1967 File:Bouw van de toren van de Nederlandse Bank te Amsterdam, Bestanddeelnr 934-4915.jpg, Construction of oval tower, 1989 File:NederlandscheBank.jpg, Late-1980s extension, photographed in 2004 File:Hekwerk DNB 2018 (2).jpg, Street-level fence, 2018 File:2022 DNB 2022-03-19 Bekleding toren (2).jpg, Ongoing renovation, 2022


List of presidents


See also

*
Economy of the Netherlands The economy of the Netherlands is th15th largest in the world in 2022(in terms of Gross domestic product; GDP) according to Forbes. Its GDP per capita was estimated at $68,572 in the fiscal year 2022, which makes it one of the highest-earnin ...
*
European Central Bank The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important centr ...
* Central Bank of Curaçao and Sint Maarten *
Central Bank of Aruba The Central Bank of Aruba ( nl, Centrale Bank van Aruba) is the central bank in Aruba responsible for implementation of monetary policy of the Aruban florin. History The Centrale Bank van Aruba (the Bank) started its operations on January 1, 19 ...
*
Euro The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . ...
*
Dutch gulden The guilder ( nl, gulden, ) or florin was the currency of the Netherlands from the 15th century until 2002, when it was replaced by the euro. The Dutch name ''gulden'' was a Middle Dutch adjective meaning "golden", and reflects the fact that, wh ...
*
Netherlands Authority for the Financial Markets The Netherlands Authority for the Financial Markets ( nl, Autoriteit Financiële Markten) is the financial services regulatory authority for the Netherlands. Its role is comparable to the role of the SEC in the United States. History The Netherl ...


References


External links


Official site of De Nederlandsche BankEuropean Central Bank
* {{DEFAULTSORT:Nederlandsche Bank Banks of the Netherlands Skyscrapers in Amsterdam European System of Central Banks Central banks Banks established in 1814 1814 establishments in the Netherlands