The Dutch central bank is looking into whether its gold and cash reserves can be stored outside Amsterdam.
The reserves are currently held in the basement safe at its Frederiksplein headquarters.
The reserves need to be moved not for safety reasons but because the building is being renovated and the bank is wondering whether a modern office building in the middle of a city is a suitable place for a safe, the NRC reports.
The fact that such a huge amount of gold and cash requires extremely strong security makes it difficult for staff and visitors to get into the building. They are confronted with passport controls, passes, scanners, barriers and armed guards.
Spread the risk
In order to spread the risk, Dutch gold is also held in central banks in New York, Ottawa and London, although in 2014, 122.5 tons of gold reserve were brought back to Amsterdam from New York. It was felt that in times of financial crisis, it was better to have the gold near at hand, says the NRC.
The Netherlands has a gold reserve of 612 tons, with a value of €22.1bn at current prices.
It is not know where the reserves will be moved to. In New York, Dutch gold is kept in a earthquake-proof safe, five stories below ground. Something similar would have to be built in the Netherlands, the NRC says.
Thank you for donating to DutchNews.nl
The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.
DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.