Danmarks Nationalbank regularly responds to consultations, for example when new bills are submitted for consultation. Consultation responses provide insight into Danmarks Nationalbank’s views on specific proposals within topics that fall within Danmarks Nationalbank’s purpose.
Consultation on amendment of the executive order on Financial reports
The Danish Financial Supervisory Authority has submitted a draft amendment of the Executive Order on Financial Reports for Credit Institutions and Investment Firms, etc. (the "Executive Order") for consultation along with guidance notes. A well-founded adjustment of the rules against that background, so that the managements of Danish institutions have the same scope for making accounting estimates as those of other European institutions, could contribute to simplifying financial regulation and strengthening the basis for cross-border competition. In general, Danmarks Nationalbank also finds that such adjustments are sound. However, it is important to emphasise that the core elements of robust regulation of the financial sector must be in place first. In addition to capital requirements and stable funding requirements, it is essential that all credit institutions can be resolved – without major adverse implications for the economy and financial stability.