In 2002 this structure was simplified. The "Raad van Beheer" was disbanded. De "Hoofddirectie" received an integral authority over the banking business. It was also renamed to "Raad van Bestuur" or board of directors. They have an added task compared to a traditional board i.e., they are expected to look out for the specific interests of the members (local banks and their certificate holders). The "Raad van Toezicht" was renamed to county commission and now held an independent supervisory role. The chairman of this board also presides over the "Centrale Kringvergadering". The latter is the most distinguishing organ as compared to other financial institutions in the Netherlands and abroad.