{
  "title": "Belgium: Financial System Stability Assessment-Technical Note- Financial Safety Net and Crisis Management",
  "publication": "IMF Staff Country Reports, March 8, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/03/08/belgium-financial-system-stability-assessment-technical-note-financial-safety-net-and-crisis-45704",
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  "summary": "This Technical Note reviews the state of financial safety net and crisis management arrangements in Belgium. Although actions in Belgium and at the European Union (EU) level have improved the Belgian financial safety net and crisis management arrangements, Belgium still faces challenges, and further",
  "sections": [
    {
      "heading": "Overview and Main Findings",
      "content": "- This Technical Note reviews the state of financial safety net and crisis management arrangements in Belgium.\n- Actions in Belgium and at the European Union (EU) level have improved the Belgian financial safety net and crisis management arrangements.\n- Belgium still faces challenges, and further actions are needed to improve its operational capacity.\n- At the EU level, the establishment of the single supervisory mechanism and the single resolution mechanism (SRM) are important improvements.\n- The Belgian authorities, particularly the National Bank of Belgium (NBB), continue to play a critical role in maintaining financial stability in Belgium."
    },
    {
      "heading": "Key Policy Recommendations and Operational Priorities",
      "content": "- Further actions are needed to improve Belgium’s operational capacity for crisis management.\n- It is recommended that the SRM should ensure the feasibility of resolution strategies for groups with domestic systemically important banks that execute national critical functions.\n- Strengthen the role and preparedness of the National Bank of Belgium in recovery and resolution functions, including NBB analysis, NBB balance sheet, NBB capacity, NBB ELA, NBB recovery, and engagement with the NBB Resolution Board."
    },
    {
      "heading": "Subjects and Thematic Keywords (as listed)",
      "content": "- Bank resolution\n- Bank resolution framework\n- Banking\n- Crisis management\n- Financial crises\n- Financial safety nets\n\n- Keywords (verbatim): bank, Bank resolution, Bank resolution framework, CR, Crisis management, Financial safety nets, Global, ISCR, MoF, MREL calibration, NBB analysis, NBB balance sheet, NBB capacity, NBB ELA, NBB recovery, NBB Resolution Board, preparation, shareholding structure\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: March 8, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484345801.002",
    "This Technical Note reviews the state of financial safety net and crisis management arrangements in Belgium.",
    "Actions in Belgium and at the European Union (EU) level have improved the Belgian financial safety net and crisis management arrangements.",
    "Belgium still faces challenges, and further actions are needed to improve its operational capacity.",
    "At the EU level, the establishment of the single supervisory mechanism and the single resolution mechanism (SRM) are important improvements.",
    "The Belgian authorities, particularly the National Bank of Belgium (NBB), continue to play a critical role in maintaining financial stability in Belgium.",
    "Further actions are needed to improve Belgium’s operational capacity for crisis management.",
    "It is recommended that the SRM should ensure the feasibility of resolution strategies for groups with domestic systemically important banks that execute national critical functions.",
    "Strengthen the role and preparedness of the National Bank of Belgium in recovery and resolution functions, including NBB analysis, NBB balance sheet, NBB capacity, NBB ELA, NBB recovery, and engagement with the NBB Resolution Board.",
    "Keywords (verbatim): bank, Bank resolution, Bank resolution framework, CR, Crisis management, Financial safety nets, Global, ISCR, MoF, MREL calibration, NBB analysis, NBB balance sheet, NBB capacity, NBB ELA, NBB recovery, NBB Resolution Board, preparation, shareholding structure",
    "**Country Report**"
  ],
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