IMF Staff Country Reports

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

Publication Date:

December 8, 2023

Electronic Access:

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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.

Series:

Country Report No. 2023/391

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

Frequency:

regular