Belgium: Financial Sector Assessment Program-Financial System Stability Assessment

December 8, 2023

Preview Citation

Format: Chicago

Belgium: Financial Sector Assessment Program-Financial System Stability Assessment, (USA: International Monetary Fund, 2023) accessed November 15, 2024

Summary

Economic activity has slowed, core inflation remains high, and the fiscal outlook is challenging. The financial sector has remained resilient despite a series of shocks. Belgium has made strong progress since the 2018 FSAP to enhance frameworks for financial sector oversight and crisis management. The National Bank of Belgium’s (NBB) framework for bank supervision is well embedded in the Single Supervisory Mechanism framework and the Financial Services and Markets Authority (FSMA) has a well-developed framework for product and conduct supervision of banks and insurers. However, the NBB still lacks the powers to implement macroprudential tools without government approval.

Subject: Asset and liability management, Financial institutions, Financial Sector Assessment Program, Financial sector policy and analysis, Financial sector stability, Insurance companies, International organization, Monetary policy, Stress testing

Keywords: B. bank Oversight, Bank solvency stress tests, Cash flow, Corporate governance framework, Europe, Financial Sector Assessment Program, Financial sector stability, Global, Insurance companies, Insurance solvency stress test, Market share, NBB coordination, Stress testing

Publication Details

Pages:

75
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/388
Stock No:

1BELEA2023006
ISBN:

9798400261862
ISSN:

1934-7685

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