06755oam 22012134 450 991081768090332120240402023755.01-4843-7890-31-4843-7315-41-4843-9146-2(CKB)2670000000420208(EBL)1587958(SSID)ssj0001075344(PQKBManifestationID)11603261(PQKBTitleCode)TC0001075344(PQKBWorkID)11245175(PQKB)10754575(MiAaPQ)EBC1587958(Au-PeEL)EBL1587958(CaPaEBR)ebr10739442(OCoLC)868488270(IMF)1BELEE2013007(IMF)1BELEA2013007(EXLCZ)99267000000042020820020129d2013 uf 0engurcn|||||||||txtccrBelgium : Technical Note on Stress Testing the Banking and Insurance Sectors1st ed.Washington, D.C. :International Monetary Fund,2013.1 online resource (105 p.)IMF Staff Country ReportsDescription based upon print version of record.1-4843-8106-8 Includes bibliographical references.Cover; CONTENTS; GLOSSARY; INTRODUCTION; BANKING-SOLVENCY STRESS TESTS; A. Summary of Both Solvency Stress Tests; B. Bottom-Up Solvency Stress Tests; C. Top-Down Solvency Stress Tests; D. Reconciliation of Both Solvency Stress Tests; BANKING-LIQUIDITY STRESS TESTS; SUMMARY AND POLICY IMPLICATIONS-BANKING; INSURANCE-SOLVENCY STRESS TESTS; BOXES; 1. Review of Aggregation Approach; 2. Key Elements of Different Valuation Approaches Applied in the Stress Test; 3. Contagion Effects in Bank assurance; SUMMARY AND POLICY IMPLICATIONS-INSURANCE; REFERENCES; TABLES1. Stress Test Matrix (Stem) for the Banking Sector: Solvency and Liquidity Risks 2. Composition of the System and Banks Included in the Stress Tests; 3. Financial Soundness Indicators for Banks Included in the Solvency Stress Test; 4. Macroeconomic Scenarios for Solvency Stress Test; 5. Overview of the Basel II and III Minimum Capital Requirements; 6. Liquidity Stress Test Parameters (Basel III Standard Measures); 7. Liquidity Stress Test Parameters (NBB Liquidity Ratio); 8. Insurance Sector-Stress Test Specification; FIGURES; 1. Banking Sector Developments2. Liquidity and Short-term Funding 3. Bank Funding; 4. Insurance Financial Soundness Indicators (FSIs); 5. Macroeconomic Assumptions under Different Stress Test Scenarios; 6. Solvency Stress Tests-Risk Drivers; 7. Evolution of Aggregate Capital Ratios in Solvency Stress Tests; 8. Solvency Stress Test Results-Total Capital Hurdle Rates; 9. Solvency Stress Test Results-Tier 1 Capital Hurdle Rate; 10. Solvency Stress Test Results-CET1 Capital Hurdle Rate; 11. Banks' Liquidity Ratios and Stress Test Results; 12. Insurance Stress Test Results; ANNEX; I. Guidelines for the Bottom-Up Solvency StressAPPENDICES I. Proposed Timeline for Completion of Solvency; II. Key BU Solvency Stress Test Parameters; III. Overview of Stress Test Scenarios (in percent); IV. Interpolated Interest Rate Term Structure and Swap Rate Curve; V. Possible Satellite Model Specification; VI. Minimum Funding Cost: Empirical Estimation of Nonlinear Change; VII. Sovereign Haircuts for Selected Countries; VIII. Estimation Methodology for Sovereign Risk Valuation Haircuts; IX. Pay-out Ratio, Hurdle Rates, and Changes in Risk-Weighted Assets; X. Suggested Output Format for Reporting by Firms to NBBThe Belgium Financial Sector Assessment Program (FSAP) stress testing exercise examines a financial sector that remains in a state of transformation. Domestic economic challenges remain sources of continued uncertainty as the banking sector consolidates and reduces funding risks. Insurers face challenges from adverse economic and business conditions. Solvency and funding shocks under different macroeconomic scenarios were assessed. Both banking and insurance tests underscore the importance of sovereign risk for financial stability. The implementation of stress tests needs to be closely aligned with the resolution and recovery planning.IMF Staff Country Reports; Country Report ;No. 2013/137Banks and bankingRisk managementBelgiumInsuranceRisk managementBelgiumBanks and BankingimfFinance: GeneralimfFinancial Institutions and Services: Government Policy and RegulationimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfGeneral Financial Markets: Government Policy and RegulationimfBankruptcyimfLiquidationimfFinanceimfBankingimfFinancial services law & regulationimfStress testingimfLiquidity requirementsimfBasel IIIimfSolvencyimfFinancial sector policy and analysisimfFinancial regulation and supervisionimfSolvency stress testingimfBanks and bankingimfFinancial risk managementimfState supervisionimfDebtimfBelgiumimfBanks and bankingRisk managementInsuranceRisk managementBanks and BankingFinance: GeneralFinancial Institutions and Services: Government Policy and RegulationBanksDepository InstitutionsMicro Finance InstitutionsMortgagesGeneral Financial Markets: Government Policy and RegulationBankruptcyLiquidationFinanceBankingFinancial services law & regulationStress testingLiquidity requirementsBasel IIISolvencyFinancial sector policy and analysisFinancial regulation and supervisionSolvency stress testingBanks and bankingFinancial risk managementState supervisionDebt332.152International Monetary Fund.DcWaIMFBOOK9910817680903321Belgium1770056UNINA