Belgium: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management

International Monetary Fund

No 2023/390, IMF Staff Country Reports from International Monetary Fund

Abstract: 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. The Belgium financial sector assessment program has reviewed the national arrangements and, as a result, all the recommendations are addressed to the national authorities. This technical note also refers to Significant Institutions when relevant and includes a factual description of the allocation of responsibilities between the Belgian authorities, the European Central Bank and the Single Resolution Board with regards to the functioning of the financial safety net. The resolution and crisis management framework should further promote internal coordination and cooperation. Efforts in the resolution front should be devoted to achieving operational readiness. The framework for granting Emergency Liquidity Assistance should be reinforced further. Recent international experiences also highlighted the critical importance of having sufficient liquidity leading up to and during resolution.

Keywords: Resolution unit; NBB governor; NBB organic law; Belgium FSAP; resolution planning; Bank resolution framework; Lender of last resort; Financial safety nets; Bank resolution; Crisis resolution; Global (search for similar items in EconPapers)
Pages: 34
Date: 2023-12-08
New Economics Papers: this item is included in nep-eur
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=542159 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2023/390

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().