{ "title": "Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management", "publication": "IMF Staff Country Reports, December 8, 2023", "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159", "canonical": "https://www.imf.org/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159", "overlayPath": "/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/index.md", "summary": "This report on Belgium discusses the technical note on financial safety net and crisis management. The authorities should now focus on strengthening the crisis management framework, ensure the operational readiness of resolution plans and enhancing the Deposit Insurance System.", "sections": [ { "heading": "Overview and Purpose", "content": "- Publication date: December 8, 2023\n- Type: IMF Staff Country Reports; Country Report No. 2023/390; Issue: 390; Volume: 2023; Pages: 34\n- DOI: https://doi.org/10.5089/9798400262111.002\n- Stock No: 1BELEA2023008\n- ISBN: 9798400262111\n- ISSN: 1934-7685\n- 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" }, { "heading": "Key Findings", "content": "- The technical note reviews Belgium’s financial safety net and crisis management framework and addresses national arrangements.\n- All recommendations arising from the Belgium financial sector assessment program are directed to national authorities.\n- The note includes references to Significant Institutions when relevant.\n- It provides a factual description of the allocation of responsibilities between:\n - the Belgian authorities,\n - the European Central Bank, and\n - the Single Resolution Board\n with regard to the functioning of the financial safety net.\n- Recent international experiences emphasize the critical importance of having sufficient liquidity leading up to and during resolution." }, { "heading": "Policy Priorities and Recommendations", "content": "- Strengthen the crisis management framework.\n- Ensure operational readiness of resolution plans.\n- Enhance the Deposit Insurance System.\n- Promote further internal coordination and cooperation within the resolution and crisis management framework.\n- Devote efforts in the resolution front to achieving operational readiness.\n- Reinforce the framework for granting Emergency Liquidity Assistance." }, { "heading": "Operational and Institutional Focus Areas", "content": "- Resolution planning: achieve operational readiness for implementation.\n- Emergency Liquidity Assistance: reinforce legal and operational frameworks to ensure effective provision.\n- Coordination: clarify and strengthen allocation of responsibilities among Belgian authorities, the ECB, and the Single Resolution Board.\n- Deposit insurance: enhance system design and preparedness." }, { "heading": "Document Metadata (for cataloguing and reference)", "content": "- Format noted on landing page: \"Download PDF\" and \"More Formats on IMF eLibrary\"\n- 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\n\nSource: Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management (IMF Staff Country Reports, December 8, 2023).\n\n---\n\n Content in this bundle\n\n- Executive Summary\n - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}" } ], "bullets": [ "[Markdown version](/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/index.md)", "[Structured JSON version](/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/index.json)", "[Bundle manifest](/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/bundle-manifest.json)", "Published: December 8, 2023", "Series: IMF Staff Country Reports", "DOI: https://doi.org/10.5089/9798400262111.002", "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", "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:", "Recent international experiences emphasize the critical importance of having sufficient liquidity leading up to and during resolution.", "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.", "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.", "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", "**Executive Summary**" ], "related": [ { "title": "Executive Summary", "role": "document", "sourceUrl": "https://www.imf.org/-/media/files/publications/cr/2023/english/1belea2023008.pdf", "summary": { "path": "/-/media/files/publications/cr/2023/english/1belea2023008.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/cr/2023/english/1belea2023008.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/index.md", "json": "/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/index.json", "bundleManifest": "/en/publications/cr/issues/2023/12/07/belgium-financial-sector-assessment-program-technical-note-on-financial-safety-net-and-542159/bundle-manifest.json" }, "generatedAtUtc": "2026-09-11T16:41:05.2Z" }