De Nederlandsche Bank (Dutch pronunciation: [də ˈneːdərlɑntsə bɑŋk], lit. 'The Dutch Bank', abbr. DNB) is the national central bank for the Netherlands within the Eurosystem. It was the Dutch central bank from 1814 to 1998, issuing the guilder. It was originally founded by King William I, and has been since transformed into a state-owned public limited company (Dutch: naamloze vennootschap, abbreviated NV). In English, it generally goes by its name in Dutch, but is also occasionally referred to as the Netherlands Bank.
In addition to its monetary role, De Nederlandsche Bank is also a financial supervisory authority. In that capacity, it increasingly implements policies set at the European Union level. It is the national competent authority for the Netherlands within European Banking Supervision. It is a voting member of the respective Boards of Supervisors of the European Banking Authority (EBA) and European Insurance and Occupational Pensions Authority (EIOPA). It is the designated Dutch National Resolution Authority and plenary session member of the Single Resolution Board (SRB). It provides the permanent single common representative for the Netherlands in the Supervisory composition of the General Board of the Anti-Money Laundering Authority (AMLA). It is also a member of the European Systemic Risk Board (ESRB).
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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, forms part of the European System of Central Banks (ESCB). On the same day, the new Bank Act (of 1998) came into force. Nearly 185 years into its existence, the Nederlandsche Bank entered a new phase.