DNB: Assure Real Estate and Financial Retirement

"I think there is still in the Netherlands illegal cash flow of € 16 billion," says Frank Elderson, director of banking supervision, on behalf of the University of Brussels. ; Utrecht. "We're seeing a change in mindset among bank managers, but I did not say we were there already."

New risks are emerging, among other things, now that banks are outsourcing more and more services. Risks can therefore arise when only a few parties are responsible, for example, for the cybersecurity of the entire sector. "We are seeing an acceleration of this phenomenon," said Elderson. "Four of the leading cloud service providers, for example, account for about 60 percent of the global market." Even with the intensification of artificial intelligence, DNB's attention is: "We do not want responsibilities delegated to machines," Elderson said.

Big Tech

He also sees the banking landscape fragmenting into parts under the influence of financial technology companies. However, entry into the large high-tech enterprises that had been seriously considered two years ago has not yet been realized.

Elderson hopes that the approach to money laundering will eventually take place at the European level: "If I were a scammer, I'd laugh because we're all so provincial" and "I wish that was sorted out Netherlands faster than in the rest of Europe ".

Deutsche Bank's German authorities, while Danske Bank, was already caught in a money-laundering scandal.

Co-director Else Bos of DNB explicitly warned against a rise in real estate prices while in 2023, all Dutch offices should carry the energy label C. This means that there is still a lot of investment or a lot of depreciation. Real estate prices have risen sharply in recent years.

Shortage of Retirement

Bos noted that October and early November were difficult months for a number of large pension funds. If a pension fund has a coverage ratio for about five consecutive years below the minimum capital requirement of about 105%, then it must take measures such as shortening. "According to Bos," for a number of important funds, it will be next year, a few years later. "