06894oam 22012734 450 991097386430332120250426110546.0978148437890814843789039781484373156148437315497814843914641484391462(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)1BELEA20130071BELEA2013007(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.9781484381069 1484381068 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 managementBelgiumBankingimfBankruptcyimfBanks and BankingimfBanks and bankingimfBanksimfBasel IIIimfDebtimfDepository InstitutionsimfFinanceimfFinance: GeneralimfFinancial Institutions and Services: Government Policy and RegulationimfFinancial regulation and supervisionimfFinancial risk managementimfFinancial sector policy and analysisimfFinancial services law & regulationimfGeneral Financial Markets: Government Policy and RegulationimfLiquidationimfLiquidity requirementsimfMicro Finance InstitutionsimfMortgagesimfSolvency stress testingimfSolvencyimfState supervisionimfStress testingimfBelgiumimfBanks and bankingRisk managementInsuranceRisk managementBankingBankruptcyBanks and BankingBanks and bankingBanksBasel IIIDebtDepository InstitutionsFinanceFinance: GeneralFinancial Institutions and Services: Government Policy and RegulationFinancial regulation and supervisionFinancial risk managementFinancial sector policy and analysisFinancial services law & regulationGeneral Financial Markets: Government Policy and RegulationLiquidationLiquidity requirementsMicro Finance InstitutionsMortgagesSolvency stress testingSolvencyState supervisionStress testing332.152International Monetary Fund.DcWaIMFBOOK9910973864303321Belgium1770056UNINA