This Technical Note has been prepared by Jianping Zhou (Monetary and Capital Markets Department).
Financial Sector Assessment Program Technical Note: The Netherlands Model of Financial sector Supervision.
J. Kremers, D. Schoenmaker, and P. Wierts, 2003, Financial Supervision in Europe.
See Donato Masciandaro and Marc Quintyn, 2010, “Regulating the Regulators: The Changing Face of Financial Supervision Architectures Before and After the Crisis,” (Draft).
See Clive Briault, “The Rationale for A Single National Financial Services Regulator,” U.K. Financial Services Authority, Occasional Paper No. 2, 1999.
See Michael Taylor, “The Road from “Twin Peaks” and the Way Back” (mimeo), Central Bank of Bahrain, 2010.
The concern was that central bank lending (as lender-of-last resort) to troubled banks would increase the net inflow of reserves to the banking system and thus undermine the monetary policy objective.
Australia introduced what may be regarded as the first “twin peaks” model in 1998, when its central bank retained its longstanding mandate of maintaining financial stability, and the responsibility of micro-prudential supervision was transferred to an integrated supervisor, the Australian Prudential Regulation Authority (APRA), located outside the central bank. Close coordination between the central bank and the APRA is an important component of the “twin peaks” model of Australia.
AFM and DNB Covenant, September 2010.
For example, DNB’s “Financial Stability Overview,” March 2007.
For example, DBN could be allowed to change LTV ratio to help mitigate boom-and-bust cycles.