IMF Staff Country Reports

Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Macroprudential Policy Framework

Publication Date:

June 18, 2024

Electronic Access:

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Summary:

Macroprudential policy in the Netherlands has centered on the residential real estate (RRE) market given the importance of this market for households, banks, and insurers. RRE represents nearly 50 percent of total household assets, and housing loans account for about 85 percent of total household liabilities, more than half of Dutch banks’ domestic loan portfolio, and 15 percent of insurers’ assets. Authorities have therefore actively used RRE-related macroprudential tools, such as banks’ capital risk weighting of residential mortgage loans, limits on loan-to-value (LTV) and debt service-to-income (DSTI) ratios for mortgages, or mortgage interest deductibility from taxes (MID).

Series:

Country Report No. 2024/171

Subject:

Financial institutions Financial sector policy and analysis Financial sector stability Housing prices International organization Macroprudential policy Macroprudential policy instruments Monetary policy Mortgages Prices

Frequency:

regular