The Basle Committee is also working to improve international risk disclosure practices of banks, and has created the new market risk capital standard that is based on banks’ internal value-at-risk models. That standard goes into effect in January of next year.
BIS central bankers’ speeches  1  From then onwards, DNB was known as the “Guardian of the guilder. We were responsible for circulating banknotes and for managing the payment system. And finally, DNB was given the task of supervising all financial institutions. Around the beginning of this millennium, financial supervision was reorganized along functional lines.