Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management
IMF Staff Country Reports, December 8, 2023
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- Canonical URL
- Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management
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Bibliographic details
- Published: December 8, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400262111.002
Overview and Purpose
- Publication date: December 8, 2023
- Type: IMF Staff Country Reports; Country Report No. 2023/390; Issue: 390; Volume: 2023; Pages: 34
- DOI: https://doi.org/10.5089/9798400262111.002
- Stock No: 1BELEA2023008
- ISBN: 9798400262111
- ISSN: 1934-7685
- Subject 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
Key Findings
- The technical note reviews Belgium’s financial safety net and crisis management framework and addresses national arrangements.
- All recommendations arising from the Belgium financial sector assessment program are directed to national authorities.
- The note includes references to Significant Institutions when relevant.
- It provides a factual description of the allocation of responsibilities between:
- the Belgian authorities,
- the European Central Bank, and
- the Single Resolution Board
with regard to the functioning of the financial safety net.
- Recent international experiences emphasize the critical importance of having sufficient liquidity leading up to and during resolution.
Policy Priorities and Recommendations
- Strengthen the crisis management framework.
- Ensure operational readiness of resolution plans.
- Enhance the Deposit Insurance System.
- Promote further internal coordination and cooperation within the resolution and crisis management framework.
- Devote efforts in the resolution front to achieving operational readiness.
- Reinforce the framework for granting Emergency Liquidity Assistance.
Operational and Institutional Focus Areas
- Resolution planning: achieve operational readiness for implementation.
- Emergency Liquidity Assistance: reinforce legal and operational frameworks to ensure effective provision.
- Coordination: clarify and strengthen allocation of responsibilities among Belgian authorities, the ECB, and the Single Resolution Board.
- Deposit insurance: enhance system design and preparedness.
Document Metadata (for cataloguing and reference)
- Format noted on landing page: "Download PDF" and "More Formats on IMF eLibrary"
- Citation example provided on page: International Monetary Fund. Monetary and Capital Markets Department "Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management", IMF Staff Country Reports 2023, 390 (2023), accessed 9/9/2026, https://doi.org/10.5089/9798400262111.002
Source: Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management (IMF Staff Country Reports, December 8, 2023).
Content in this bundle
- Executive Summary