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Kingdom of the Netherlands-Netherlands: Publication of Financial Sector Assessment Program Documentation: Technical Note on Financial Sector Supervision: The Twin Peaks Model
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2011: Issue 208
Language:
English
Publication Date:
25 Jul 2011
DOI:
https://doi.org/10.5089/9781462322398.002
ISBN:
9781462322398
ISSN:
1934-7685
Pages:
15
Keywords:
ISCR; CR; bank; AFM coordination; DNB; financial product; AFM; prudential supervision; DNB's role; conduct-of-business supervision; rule-making authority; credibility of DNB; DNB's market; Financial sector stability; Systemic risk; Insurance companies; Global
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The global financial crisis has tested the effectiveness of supervision under the “Twin Peaks” model. The crisis revealed the strengths of the “Twin International Peaks” model, as decisions were able to be made in a timely manner to contain the crisis, and clear divisions of powers and responsibilities were instrumental in ensuring effective coordination between key agencies. However, the crisis also exposed certain areas where improvements could strengthen the “Twin Peaks” framework. Intensive and well-focused efforts are being made to strengthen the supervisory framework.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund