The Banking Code (Code Banken) has been drawn up by the Dutch Bankers Association (Nederlandse Vereniging van Banken) and has been published in September 2009.
The Banking Code contains principles by which Dutch banks should conduct themselves in terms of corporate governance, risk management, audit and remuneration. The Banking Code applies to all activities in the Netherlands performed by banks that are in possession of a banking licence granted under the Financial Supervision Act (Wet op het financieel toezicht), irrespective of whether they perform their activities in the Netherlands or in another Member State of the European Union, and irrespective of whether those activities are performed by a branch. Banks that are part of a group can apply parts of the Banking Code at group level or on a consolidated basis.
It is recommended that activities and branches of banks licensed in another Member State should apply the Banking Code. Deutsche Bank Nederland N.V. has established the Project Group Corporate Governance which aim is to embed the Banking Code within the company.