Belgium: Financial Sector Assessment Program-Technical Note on Regulation and Supervision of Less Significant Institutions

December 8, 2023

Preview Citation

Format: Chicago

Belgium: Financial Sector Assessment Program-Technical Note on Regulation and Supervision of Less Significant Institutions, (USA: International Monetary Fund, 2023) accessed December 21, 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 legislation, Bank supervision, External balance assessment (EBA), External position, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, International organization, Monetary policy

Keywords: Bank legislation, Bank supervision, Belgium LSI sector, Belgium's Less Significant Institutions, Credit institution, External balance assessment (EBA), Financial Sector Assessment Program, Global, LSI sector, Market development, NBB governance Manual

Publication Details

Pages:

26
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2023/391
Stock No:

1BELEA2023009
ISBN:

9798400262234
ISSN:

1934-7685

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