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© 2004 International Monetary Fund
September 2004
IMF Country Report No. 04/310
Kingdom of the Netherlands—Netherlands: Detailed Assessment of Standards and Codes
This Detailed Assessment of Standards and Codes on the Kingdom of the Netherlands—Netherlands was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed in September 2004. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the Kingdom of the Netherlands—Netherlands or sthe Executive Board of the IMF.
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Front Matter Page
Financial Sector Assessment Program
The Kingdom of the Netherlands—Netherlands
Detailed Assessments of Standards and Codes
September 2004
International Monetary Fund
Monetary and Financial Systems Department
Contents
I. Basel Core Principles for Effective Banking Supervision
A. General
B. Principle-by-Principle Assessment
C. Authorities’ Responses to the Assessment
II. IAIS Insurance Core Principles
A. Introduction
B. Principle-by-Principle Assessment
C. Recommended Action Plan to Improve Observance of the IAIS Insurance Core Principles
D. Authorities’ Response to the Assessment
III. IOSCO Objectives and Principles of Securities Regulation
A. Overview
D. Principle-by-Principle Assessment
C. Recommended Plan of Actions to Improve Implementation of the IOSCO Objectives and Principles of Securities Regulation
D. The Authorities’ Responses
IV. CPSS/IOSCO Recommendations for Securities Settlement Systems (RSSS)
A. Introduction
B. Assessment of Observance
C. Detailed Assessment of the Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
D. Recommended Actions to Improve Observance of the Recommendations
E. The Authorities’ Responses
V. Anti-Money Laundering and Combating the Financing of Terrorism
A. General
B. Detailed Assessment
C. Ratings of Compliance with FATF Recommendations, Summary of Effectiveness of AML/CFT Efforts, Recommended Action Plan and Authorities’ Response to the Assessment
Tables
1. Detailed Assessment of Compliance of the Basel Core Principles
2. Summary Compliance of the Basel Core Principles
3. Recommended Action Plan with Respect to the Basel Core Principles
4. Detailed Assessment of Observance of the IAIS Insurance Core Principles
5. Summary Observance of IAIS Insurance Core Principles
6. Recommended Action Plan to Improve Observance of IAIS Insurance Core Principles
7. Summary Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
8. Detailed Assessment of Criminal Justice Measures and International Cooperation
9. Detailed Assessment of the Legal and Institutional Framework for Financial Institutions and its Effective Implementation
10. Description of the Controls and Monitoring of Cash and Cross-Border Transactions
11. Ratings of Compliance with FATF Recommendations Requiring Specific Action
12. Summary of Effectiveness of AML/CFT Efforts for Each Heading
13. Recommended Action Plan to Improve the Legal and Institutional Framework and to Strengthen the Implementation of AML/CFT Measures in Banking, Insurance, and Securities Sectors
Appendix
Abbreviations