Author: Selwyn Manning

Source: European Banking Authority

The EBA responds to the EU Parliament’s 2021 Discharge Report

14 September 2023

Source: European Banking Authority

The European Banking Authority (EBA) today published an Opinion following notification by the Ministry of Finance of Poland of its intention to extend a measure originally introduced in March 2022. The measure aims to limit risks associated with foreign currency housing loans by encouraging banks to enter in settlements with borrowers. Based on the evidence submitted, the EBA does not object to the temporary extension of the measure until the next periodical assessment takes place, in accordance with the Capital Requirements Regulation (CRR).

With the application of this measure, the Ministry of Finance of Poland extends the current adjustment to the level of risk weights for foreign currency housing loans in force since 18 March 2022 by an additional period of 24 months. The measure sets different levels of risk weights on foreign currency housing loans for banks that actively engage in proceedings leading to settlements with borrowers of such loans. The risk weights of foreign currency housing loans are set depending on the amount of loan loss provisions, write-offs or adjustments to the exposure gross carrying amount created in connection with the planned settlements with borrowers.

In its Opinion, addressed to Poland, the EBA acknowledged the concerns of the Ministry of Finance over the financial stability risks stemming from foreign currency housing loans and the uncertainty surrounding the materialisation of litigation and settlement costs. The EBA understands that the measure may support financial stability in Poland by increasing incentives for banks to conclude such settlements and thus, decreasing the stock of foreign currency housing loans and the associated legal risks. In its assessment, the EBA reminded the Ministry of Finance that it shall reassess the appropriateness of the risk weights periodically, in accordance with the CRR.

Legal basis

On 3 August 2023, the European Banking Authority (EBA) received a notification from the European Systemic Risk Board (ESRB) on the intention of the Ministry of Finance of Poland extend an existing measure in accordance with Article 124(2) of Regulation (EU) No 575/2013 of the European Parliament and of the Council (Capital Requirements Regulation, CRR).  In accordance with the third subparagraph of Article 124(2) of the CRR, within one month of receiving notification from the designated or competent authority entrusted with the national application of Article 124 of the CRR, the EBA is required to provide its Opinion to the Member State concerned.

Source: European Banking Authority

EBA issues revised list of ITS validation rules

11 September 2023

Source: Government of the Netherlands

News item | 25-09-2023 | 09:36

Expo 2025 Osaka Kansai will take place from April 13 to October 13, 2025, in Japan. The organisation anticipates receiving approximately 28 million business and private visitors, with around 90% expected to come from Japan. More than 160 countries and organizations will participate. The theme of this edition is ‘Designing Future Society for Our Lives,’ focusing on shaping a world where major crises such as climate and health will affect livability.

The Netherlands participation has the theme ‘Common Ground: creating a new dawn together’ and aims to showcase Dutch innovative solutions in areas such as the energy transition. During Expo 2025, the pavilion intends to provide a meeting place for businesses, knowledge institutions, and (cultural) organisations to bring together different perspectives and expertise in order to find collective solutions to global challenges. In addition to the visitor experience, the pavilion includes event space, a shop and a café. The design was created by the architectural firm RAU, engineering firm DGMR, experience design studio Tellart, and the Japanese construction company Asanuma.

The Tender for the Operation of the Netherlands Pavilion is expected to be published end of October on Tenderned. For more information on the Netherlands participation, go to www.nlexpo2025.nl or www.orandaexpo2025.nl

Source: Government of the Netherlands

News item | 20-09-2023 | 17:05

Today, the Honourable Mélanie Joly, Minister of Foreign Affairs of Canada and Her Excellency Hanke Bruins Slot, Minister of Foreign Affairs of the Kingdom of the Netherlands launched the Global Declaration on Information Integrity Online, endorsed by:

1. Australia
2. Austria
3. Belgium
4. Brazil
5. Canada
6. Chile
7. Costa Rica
8. Czechia
9. Denmark
10. Dominican Republic
11. Estonia
12. Finland
13. Germany
14. Georgia
15. Iceland
16. Ireland
17. Japan
18. Kenya
19. Latvia
20. Luxembourg
21. Moldova
22. Netherlands
23. New Zealand
24. Republic of Korea
25. Slovakia
26. Switzerland
27. United Kingdom
28. Uruguay
29. United States

The Global Declaration draws from existing research, policy, and principles on safeguarding the information ecosystem to establish a set of high-level international commitments to serve as a framework and guide for governments to uphold information integrity online, including government engagement with industry. It also looks to help us strengthen our responses to the opportunities and challenges that generative artificial intelligence (AI) brings to the information ecosystem.

Participating countries have signalled that protecting information integrity online is one of the most important governance issues of our times and that they are committed to finding shared solutions.

Source: Government of the Netherlands

News item | 19-09-2023 | 15:39

Support for Ukraine

The Russian war of aggression in Ukraine will dominate the agenda again in the year ahead. Alongside its partners and allies, the Dutch government is taking a resolute stand on freedom, independence and sovereignty for Ukraine. Ukraine must remain able to defend itself in the face of Russia’s military invasion. Over the next year it can once again count on the Netherlands for humanitarian and military aid, economic support and help with reconstruction.

A changing world order

The war in Ukraine has shown that we cannot take security for granted. International developments have direct repercussions for the Netherlands’ security and prosperity. The scale and complexity of the global threats we face make international cooperation essential. For instance in countering terrorism and cyberattacks.

Fostering security and stability in the regions surrounding Europe, particular along its eastern border, in the Middle East and in the Sahel, is in the security interests of both the Netherlands and Europe as a whole. Therefore, the government intends to contribute proportionately to civilian and military missions and operations, with an emphasis on the unstable regions on Europe’s periphery. Supplying arms to Ukraine is another way to promote security in the European region. With regard to civilian and military participation in military missions and operations, the government aims to align such activities with Dutch and international diplomatic activities and development efforts.

China’s assertive stance in the global arena presents another set of geopolitical challenges. Countries are taking an increasingly competitive stance on issues ranging from security, technology and energy to food and health.

As the focus of demographic and economic trends shifts towards the east and global south, we need to invest more in our relations with countries in other parts of the world. This includes Africa and Latin America, but also the Indo-Pacific, which is the world’s biggest growth region and home to one-third of its population.

International trade

International trade is our lifeblood. For this reason the focus of government policy in 2024 will again be on making the most of opportunities to help our businesses succeed. The government intends to make its trade activities more robust and sustainable. To this end, it will support businesses by deploying economic diplomacy and various trade instruments.

Development cooperation

There is an ongoing need for development cooperation. In 2024 we will continue to face international crises such as climate change and war, and therefore the Netherlands will continue addressing the underlying causes of poverty, climate change, terrorism and irregular migration, as well as working to achieve the UN Sustainable Development Goals (SDGs).

Asylum

More asylum seekers are expected to enter the country than previously anticipated. Some of the funds needed to address this situation will be drawn from the development cooperation budget. As a result, that budget will shrink in the coming year from just over €4 billion to just over €3.6 billion. Existing projects will continue as far as possible, and the terms of the coalition agreement will continue to guide our priorities, but there will be less money available for new policy.

Budget

The Ministry of Foreign Affairs has been allocated a budget of over €13 billion for next year. Most of this – around €11.2 billion – will go towards our contributions to the EU. The war in Ukraine makes European unity more important than ever, and so these contributions remain essential. The budget for foreign trade and development cooperation amounts to €3.6 billion.

Source: Government of the Netherlands

News item | 18-09-2023 | 09:30

Russia’s deportation of children

Since the start of the war, Russia has abducted thousands of Ukrainian children from Ukraine. Russia’s intention is to break the children’s connection with their Ukrainian families, identity, language and culture. The International Criminal Court in The Hague has issued arrest warrants for Vladimir Putin, President of Russia, and Maria Lvova-Belova, Russian Commissioner for Children’s Rights, for the unlawful deportation and transfer of Ukrainian children.

Ukrainian delegation in the Netherlands

As part of the Stolen Voices Advocacy Tour, Ukrainian representatives were in the Netherlands for a three-day visit. Their aim is to increase attention about the abductions among international organisations and decision-makers so that they put greater pressure on Russia to let the children go home to their loved ones.

On 14 September Ms Bruins Slot met with a Ukrainian delegation consisting of Dmytro Lubinets, Ukrainian ombudsman, Daria Herasymchuk, presidential adviser for children’s rights, and six Ukrainian children between the ages of 11 and 17 who had been kidnapped by Russia in the past year and a half. These six children have since been reunited with their families, but they are among the few fortunate ones.

Minister speaks with Ukrainian children who were abducted

At the Children’s Book Museum in The Hague, Ms Bruins Slot spoke with the children and listened to their harrowing accounts. The children were accompanied by an interpreter/psychologist.

The Netherlands to make DNA kits available

During the meeting with the Ukrainian delegation Ms Bruins Slot announced the Netherlands’ intention to support Ukraine with the new DNA reunification project. The Netherlands wants to help Ukraine set up a DNA database by providing rapid DNA test kits. The database will make it possible to more quickly identify the families of abducted children who are brought back from Russia, so that they can be reunited with their families as fast as possible. The project will also contribute to the collection of evidence of the deportations, enabling prosecution for war crimes before the courts, including the International Criminal Court.

Ms Bruins Slot: ‘Russia has kidnapped thousands of Ukrainian children since its invasion of Ukraine. It is a deliberate tactic of unprecedented cruelty that destroys families. These children must not be forgotten. It is vital that they are reunited with their families. The Netherlands can help Ukraine do this by providing DNA test kits.’

Other ways the Netherlands is helping Ukraine

The Netherlands is deeply concerned about the deportation of Ukrainian children by Russia. It is helping Ukraine to combat this by contributing to investigations, imposing sanctions on people involved in the abductions, providing support for bringing the children home, and continuing to call international attention to this matter. The Netherlands also continues to support Ukraine in various other ways.

On 30 March 2023, the Organization for Security and Co-operation in Europe (OSCE) launched a mission of experts to investigate the deportation of Ukrainian children by Russia. The Netherlands supported this mission, together with Germany. The mission’s task was to collect new, independent data about the deportation of children. The Netherlands was part of the working group for the mission and contributed financially. The mission confirmed in its report of 4 May 2023 that Russian has deported a large number of Ukrainian children and that some cases may amount to war crimes and crimes against humanity.

Source: Government of the Netherlands

News item | 04-09-2023 | 17:34

Her appointment follows Wopke Hoekstra’s departure as Minister of Foreign Affairs as of 1 September. Liesje Schreinemacher, the Minister for Foreign Trade and Development, assumed his duties until a successor could be appointed.

Minister Bruins Slot

Ms Bruins Slot’s previous positions include senior policy officer at the Ministry of the Interior and, from 2007 to 2010, artillery officer in the Royal Netherlands Army. In 2008 she was deployed to Afghanistan as commander of a self-propelled howitzer platoon. She was a Member of the House of Representatives for the Christian Democratic Alliance (CDA) from 2010 to 2019, serving as party spokesperson on defence, internal governance, curative care, prevention, sport and medical ethical issues. In 2019 she was appointed to the Utrecht provincial executive.

In January 2022 Hanke Bruins Slot was appointed Minister of the Interior and Kingdom Relations in the fourth Rutte government.

Source: Government of the Netherlands

News item | 01-09-2023 | 12:00

As Commissioner-designate for Climate Action, Mr Hoekstra will prepare with the support of a small team of EU Commission staff.

Hoekstra served as Foreign Minister from 10 January 2022 to 1 September 2023.

Source: Government of the Netherlands

News item | 31-08-2023 | 13:14

Liveblog closed

Update 31 August, 13:07
This liveblog is now closed. The ministry of Foreign Affairs has not received any requests for help from Dutch nationals in Gabon. The Ministry continues to closely monitor the situation. Dutch nationals in Gabon who need help can reach the contact center of the Netherlands Worldwide 24/7 by calling +31 247 247 247.

Any further updates will be published on the regular channels of the ministry of Foreign Affairs. Updates can be found on government.nl, netherlandsworldwide.nl or via our social channels:

Travel advisory for Gabon changed to red

Update 30 August, 13:40
The travel advisory for Gabon has been changed from yellow to red. Do not travel to Gabon. There is a heightened risk of violence throughout the country. Gabon’s borders and airspace are closed. There is also a curfew in place. Read the current travel advisory on Nederland Wereldwijd.

What to do if you are currently in Gabon 

• Do not go outdoors; stay in a safe location at home or in your hotel. 
• Avoid demonstrations – they could turn violent. 
• Follow the local news to stay up to date on the security situation.
• Follow the instructions and advice of the local authorities. 
• Let your family/friends know how you are doing. 
• If you need help, contact your travel insurance company or the Dutch embassy in Cotonou, Benin. 
• Register for free with the Dutch Ministry of Foreign Affairs Information Service.

Foreign Affairs in contact with Dutch nationals in Gabon

Update 30 August, 11:30
Dutch nationals who are registered via the Foreign Affairs Information Service receive notifications of changes in the security situation via the travel advice and/or the Information Service. At the time of writing, we have not received any requests for help from Dutch nationals in Gabon. At this time the Ministry of Foreign Affairs does not know exactly how many Dutch nationals are in the country. There is no registration requirement for Dutch nationals abroad. Therefore, it is important for Dutch nationals in Gabon to register with the Dutch Ministry of Foreign Affairs Information Service (in Dutch).

Registering with the Ministry of Foreign Affairs Information Service If you are currently in Gabon, register with the Dutch Ministry of Foreign Affairs Information Service. Select ‘Aanmelden + registratie bij ambassade’. This will help you stay up to date on the latest developments. It also lets the Ministry of Foreign Affairs know that you are in the country. Make sure to deregister if you leave the country.

Message from foreign minister Wopke Hoekstra for Dutch nationals in Gabon

Update 30 August, 10:31
Minister of Foreign Affairs Wopke Hoekstra: ‘The news reports about a possible coup in Gabon are deeply concerning. We are in close contact with the coordinating embassy in Benin. I urge all Dutch nationals in Gabon to register with the Ministry of Foreign Affairs Information Service if possible. This allows the embassy to reach Dutch nationals as quickly as possible with up-to-date information. We are actively preparing for all possible scenarios. See the latest travel advisory for Gabon.’

Read this message (in Dutch) on X/Twitter.

Minister Hoekstra on the situation in Gabon

Update 30 August, 10:30
Read this message on X (Twitter).

Contacting the Ministry of Foreign Affairs

Update 30 August, 09:00
The Ministry of Foreign Affairs is monitoring the situation closely. Dutch nationals in Gabon can contact the Ministry of Foreign Affairs contact centre 24 hours a day, 7 days a week. Phone +31 247 247 247, or send a message via WhatsApp (+31 6 8238 7796) or X/Twitter (@247BZ).

Message from the Ministry of Foreign Affairs

Update 30 August, 08:03
Reports are emerging of a coup in Gabon. The Ministry of Foreign Affairs is monitoring the situation closely. If you are in Gabon, let your family/friends know how you are doing. Always follow the instructions and advice of the local authorities.

If you are in Gabon on an organised trip, stay in contact with your travel company. If you need help, contact your travel insurance company or the Dutch embassy [in Cotonou, Benin] at +31 247 247 247, or through X/Twitter @247BZ.

Read this message (in Dutch) on X/Twitter.