The Dutch Authority for Consumers and Markets (ACM) announced that it has launched a broad market study to examine the functioning of the Dutch savings markets, in response to concerns raised by the Dutch Ministry of Finance that savings account rates in the country lag behind interest rates set by the European Central Bank (ECB).
Accordingly, the ACM aims to assess whether there is sufficient competition among banks to ensure that consumers benefit from the highest possible savings account rates. In particular, ACM plans to address the issue of why Dutch consumers are not taking full advantage of the rising European market interest rates.
Finally, the ACM stated that it will publish the results of the study before the summer of 2024 and will make recommendations to the Dutch legislature if problems are identified.
(ACM – 30.10.2023)