A heavy public outcry over the tardiness and reactive response on the part of the Ministry of Finance and the Central Bank to protect their deposits, eventually led to the formation of the DIC in September 1986, more than 5 years after the Financial Institutions (Non-Banking) Act took effect in mid-1981, and more than 7 years after the Non-Banking Act was passed and assented to in 1979 but never proclaimed due to a still unexplained failure to publish the necessary regulations.
We must avoid an overly rigid application of these rules, which should reflect the real risks and risk mitigants, and should therefore take into account the conditionality of Dutch pension contracts. Characteristics of the current crisis 8. It is too early to provide a thorough analysis of the causes and characteristics of the recent financial turbulence.