De Nederlandsche Bank (DNB) is Friday started to move a large stock of gold and banknotes to Haarlem. Defense, the police and the Marechaussee are involved in the major operation.
The relocation operation has started because the DNB office in Amsterdam at Frederiksplein is being renovated. Various roads are closed for transport.
At the Amsterdam headquarters of the Dutch central bank, one third of the Dutch gold stock, about 200 tons of gold bars, is located, worth about 10 billion euros.
From Friday, these precious household effects will be transferred to safes in the former money printing company Joh. Enschedé in Haarlem.
Gold will not return to the capital
The banknotes and gold bars will not return to Amsterdam. DNB has opted to eventually place it in a DNB cash center in Zeist, which is yet to be built. It is expected to be operational in 2023.
Due to security considerations, DNB does not make any statements about the details or the route of the relocation operation.
Why does DNB have gold?
Gold stocks of central banks such as DNB serve as collateral for the monetary system of banknotes, shares and other debt securities. In total, DNB has six hundred tons of gold.
One third of this strategic stock is in the US Federal Reserve Bank’s gold safes in New York. A further third are scattered in vaults of the Canadian central bank in Ottawa and the English central bank in London.
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