Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management

December 8, 2023

Preview Citation

Format: Chicago

Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management, (USA: International Monetary Fund, 2023) accessed December 22, 2024

Summary

The Belgium FSAP deep dived into the arrangements related to the financial safety net and crisis management. Belgium made progress since the 2018 FSAP2 in the preparation of resolution plans and minimum requirement for own funds and eligible liabilities (MREL) targets. The authorities should now focus on strengthening the crisis management framework, ensure the operational readiness of resolution plans and enhancing the Deposit Insurance System (DIS). The Belgium FSAP has reviewed the national arrangements and, as a result, all the recommendations are addressed to the national authorities. This technical note also refers to Significant Institutions (SIs) when relevant and includes a factual description of the allocation of responsibilities between the Belgian authorities, the European Central Bank (ECB) and the Single Resolution Board (SRB) with regards to the functioning of the financial safety net.

Subject: Bank resolution, Bank resolution framework, Crisis resolution, Financial crises, Financial safety nets, International organization, Lender of last resort, Monetary policy

Keywords: Bank resolution, Bank resolution framework, Belgium FSAP, Crisis resolution, Financial safety nets, Global, Lender of last resort, NBB governor, NBB organic law, Resolution planning, Resolution unit

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/390
Stock No:

1BELEA2023008
ISBN:

9798400262111
ISSN:

1934-7685

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