Seven Dutch banks on European central bank review list

Seven Dutch banks are on the list of 130 banks which the European central bank plans to check out over the next few months.

The Dutch banks are state-owned ABN Amro and SNS, ING, cooperative bank Rabobank, the local authority bank BNG, the waterboard bank Nederlandse Waterschapsbank and Royal Bank of Scotland NV.

The banks have been singled out for an ‘asset quality review’ followed by a ‘stress test’.

The exercise has three main goals: transparency – to enhance the quality of information available on the condition of banks; repair – to identify and implement necessary corrective actions, if and where needed; and confidence building – to assure all stakeholders that banks are fundamentally sound and trustworthy, the central bank said in a statement.

The information will give the central bank an overview of eurozone banking ahead of it taking over banking supervision in November 2014.

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