In a recent speech, Steven Maijoor, Executive Board Member and Chair of Supervision at De Nederlandsche Bank, called for a greater focus on trust, innovation, and financial integration across Europe.
“The reason that we still have a well-functioning financial system today, after so many centuries, is because, sooner or later, the litmus test for any financial innovation is the public’s trust," Maijoor said. "That trust is the true bedrock of our financial system.” Drawing a lesson from history, Maijoor cited the 17th-century Bank of Amsterdam, whose ultimate collapse was caused by “flawed governance and a lack of transparency,” which deteriorated public trust.
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