Belgium: Technical Note on Financial Conglomerate Supervision

International Monetary Fund

No 2013/138, IMF Staff Country Reports from International Monetary Fund

Abstract: Belgian financial conglomerates (FCs) remained important players in the Belgian financial sector, despite significant restructuring following the global financial crisis. FCs operated in multiple streams of the financial sector, especially in banking and insurance. Owing to their economic reach and use of regulated and unregulated entities across sectoral boundaries, FCs presented a challenge for sector-specific supervisory oversight. The Executive Board suggested a pragmatic supervisory approach, which needs to be streamlined and applied more uniformly to contain FC-specific risks.

Keywords: ISCR; CR; parent company; risk management; group transaction; risk concentration; risk profile; FC supervision; supervisory framework; FC legislation; NBB expectation; FCS draw; group level; bancassurance group; group risk; Insurance companies; Capital adequacy requirements; Insurance; Financial conglomerates; Financial sector; Global (search for similar items in EconPapers)
Pages: 43
Date: 2013-05-24
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