General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
June 08, 2017

ECB published an opinion (CON/2017/23) on the amendments to a draft law of the National Bank of Belgium (NBB). This opinion encompasses new category of debt instruments, new macro-prudential tool, the creation of a new category of settlement institution, and the exclusion of set-off rights.

ECB, on April 03, 2017, had received a request from the Governor of the National Bank of Belgium (NBB), on behalf of the Minister of Finance, for an opinion on a draft law on various financial and tax provisions. The draft law amends various provisions contained in the NBB Organic Law, the Law of February 28, 2002 (on organizing the establishment of the balance of payments), and the Banking Law. ECB’s competence to deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the Functioning of the European Union (TFEU) and the third, fourth, fifth, and sixth indents of Article 2(1) of Council Decision 98/415/EC, since the draft law concerns the NBB, the collection of balance of payments statistics, payment and settlement systems as well as rules applicable to financial institutions insofar as they materially influence the stability of financial institutions and markets. The ECB opinion does not address the issue of whether the draft law effectively implements Directive 2014/49/EU (on deposit guarantee schemes) in Belgian law. The focus of this opinion is on the various provisions of the draft law related to the:

Creation of a new category of senior non-preferred debt instruments in the insolvency hierarchy of credit institutions

Introduction of new macro-prudential tools

Creation of a new category of settlement institution

Exclusion of set-off rights with respect to credit claims pledged to the NBB

Introduction of new penalty payments in the context of balance of payments statistics

Independence of the NBB’s decision-making bodies with regard to financial stability matters 

 

Related Link: ECB Opinion (PDF)

​Keywords: Europe, ECB, Banking, NBB, Macroprudential Policy, Opinon, Belgium

Related Articles
News

APRA Proposes Changes to Credit Risk Management Standard for Banks

APRA is proposing to update its prudential standard on credit risk management requirements for authorized deposit-taking institutions.

March 25, 2019 WebPage Regulatory News
News

EIOPA Publishes Q&A on Regulations in March 2019

EIOPA updated questions and answers (Q&A) on the implementing and delegated regulations related to the Solvency II Directive.

March 25, 2019 WebPage Regulatory News
News

BCBS Issues Follow-Up Reports on Basel III Implementation Assessments

BCBS published a report summarizing the follow-up actions taken or planned by member jurisdictions as of the end of 2018; these actions are intended to address deviations from the Basel standards identified as part of the Regulatory Consistency Assessment Program (RCAP).

March 25, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Fourth Update for March 2019

EBA published answers to five questions under the Single Rulebook question and answer (Q&A) updates for this week.

March 22, 2019 WebPage Regulatory News
News

ECB Updates Validation Checks and List of Identifiers Under AnaCredit

ECB updated the AnaCredit validation checks (Version 1.4) and the list of national identifiers (version 2.4) for AnaCredit reporting.

March 21, 2019 WebPage Regulatory News
News

BCBS Publishes Results of the Basel III Monitoring Exercise

BCBS published results of the Basel III monitoring exercise based on data as of June 30, 2018.

March 20, 2019 WebPage Regulatory News
News

EBA, FCA, and PRA Agree on MoU Template for Supervisory Cooperation

EBA, FCA, and PRA announced that they have agreed on a template for the Memorandum of Understanding (MoU) that sets out the expectations for supervisory cooperation and information-sharing arrangements between UK and EU/European Economic Area national authorities.

March 20, 2019 WebPage Regulatory News
News

HKMA Publishes CoP on Loss-Absorbing Capacity Requirements of Banks

HKMA issued, in relation to the Financial Institutions Resolution (Loss-Absorbing Capacity Requirements—Banking Sector) Rules (LAC Rules) a chapter of a code of practice (LAC CoP) under section 196 of the Financial Institutions Resolution Ordinance (FIRO).

March 20, 2019 WebPage Regulatory News
News

EBA Publishes Reports Monitoring the Implementation of Basel III in EU

EBA published two reports measuring the impact of implementing the final Basel III reforms and monitoring the implementation of liquidity measures in EU.

March 20, 2019 WebPage Regulatory News
News

BCBS Publishes Results of Survey on Proportionality in Bank Regulation

BCBS published a report presenting the results of a survey conducted on proportionality practices in bank regulation and supervision.

March 19, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2786