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

Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management
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Volume/Issue: Volume 2023 Issue 390
Publication date: December 2023
ISBN: 9798400262111
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Money and Monetary Policy , International - Economics , Resolution unit , NBB governor , NBB organic law , Belgium FSAP , resolution planning , Bank resolution framework , Lender of last resort , Financial safety nets , Bank resolution , Crisis resolution , Global

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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.

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