Registration of governmental interventions fighting financial turmoil

1
Registration of governmental interventions
fighting financial turmoil

• A.J. de Boo
• Statistics Netherlands

2
Introduction

• Interventions by the Dutch Government
• Dilemmas for Statistics Netherlands
• Action taken
• Process
• Registration of the interventions
• Conclusions

3
Parties concerned

• Dutch government
• - Parliament
• - Excessive Deficit Procedure
• European Commission
• Financial institutions

4
Expert team

• External experts merger and acquisition
• Internal experts ESA and EDP
• - External academic expert accountancy

5
Process

• - Exchange of knowledge
• List of documents
• Interviews
• Ministry of Finance
• Dutch Central Bank
• Consultants
• Rating agency
• Presentation at Ministry of Finance

6
Interventions by Dutch Government

• Nationalisation of Fortis Netherlands
• Capital support to ING, Aegon and SNS Reaal
• Garantees for NIBC and Leaseplan
• Compensation of Icesave depositors
• Acquisition of ING Alt-A Mortgage portfolio

7
Conclusions

• Registration not disputed
• Fruitful cooperation
• Finished in time
• Within the budget
• - Process hard to control