Belgium: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision
IMF Staff Country Reports, May 24, 2013
Source details
- Canonical URL
- Belgium: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision
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Bibliographic details
- Published: May 24, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484351758.002
Summary
- The Belgian financial system is described as relatively large, concentrated, and interconnected.
- The system has a high level of compliance with the Basel Core Principles (BCPs) for effective banking supervision.
- The National Bank of Belgium (NBB) deploys high-quality supervisory practices and has clear lines of accountability, transparency, and separate funding when acting in its supervisory capacity.
- The Belgian authorities have established a Resolution Fund (RF) vesting it with powers to take preventative measures and to facilitate resolution procedures.
Major findings and analysis
- High level of compliance with the Basel Core Principles for effective banking supervision.
- The NBB's supervisory practices are characterized as high-quality.
- Accountability, transparency, and separate funding are present in the NBB’s supervisory role.
- A Resolution Fund (RF) exists and is vested with powers to:
- take preventative measures; and
- facilitate resolution procedures.
Institutional and thematic scope
- Subject areas listed:
- Bank legislation
- Banking
- Credit
- Credit risk
- External audit
- Financial regulation and supervision
- Market risk
- Money
- Public financial management (PFM)
- Keywords preserved:
- Bank legislation, banking group, central bank, CR, Credit, credit institution, Credit risk, External audit, Global, ISCR, Market risk, NBB regulation, parent company, risk management, senior management