LEADER 06858oam 22013094 450 001 9910779768703321 005 20230803020833.0 010 $a1-4843-4267-4 010 $a1-4843-7253-0 010 $a1-4843-4965-2 035 $a(CKB)2550000001063291 035 $a(EBL)1587935 035 $a(SSID)ssj0001075340 035 $a(PQKBManifestationID)11595657 035 $a(PQKBTitleCode)TC0001075340 035 $a(PQKBWorkID)11245556 035 $a(PQKB)10721770 035 $a(MiAaPQ)EBC1587935 035 $a(Au-PeEL)EBL1587935 035 $a(CaPaEBR)ebr10739414 035 $a(CaONFJC)MIL497420 035 $a(OCoLC)868488130 035 $a(IMF)1BELEE2013002 035 $a(IMF)1BELEA2013002 035 $a(EXLCZ)992550000001063291 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBelgium : $eFinancial System Stability Assessment 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (104 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4843-6287-X 311 $a1-299-66170-X 327 $aCover; TABLES; 1. Belgium: FSAP Update-High Priority Recommendations; CONTENTS; GLOSSARY; INTRODUCTION AND BACKGROUND; A. Macroeconomic and Financial Sector Developments; B. Household and Corporate Sector Developments; C. Implementation of 2006 FSAP Recommendations; SOUNDNESS OF THE FINANCIAL SYSTEM AND POTENTIAL RISKS; A. Financial Crisis and Policy Response; B. Vulnerabilities Analysis; BOXES; 1. Outward Spillovers from Belgium Financial Sector; 2. Network Analysis of Spillover Risk for the Belgian Banking System; C. Bank Stress Testing; D. Insurance Stress Testing 327 $aFINANCIAL STABILITY FRAMEWORK A. Banking Supervision; 3. The Impact of the Banking Union on Belgium; B. Insurance Supervision; C. Conglomerates Supervision; D. Securities Markets and Regulation; E. Soundness and Oversight of Market Infrastructures; F. Crisis Management and Safety Nets; G. Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT); FIGURES; 1. Structural Features of the Financial Sector; 2. Economic Developments; 3. Nonfinancial Sector Developments; 4. Financial Market Indicators; 5. Banking Sector Developments; 6. International Exposures of Belgian Banks, 2007-12 327 $a7. Insurance Financial Soundness Indicators 8. Macroeconomic Assumptions Under Different Stress Test Scenarios; 9. Solvency Stress Test Results-CET1 Hurdle Rate; 10. Liquidity Indicators and Stress Test Results; 2. Baseline-Selected Economic Indicators, 2009-17; 3. Structure of the Financial Sector; 4. Financial Sector State Support (2012); 5. Financial Soundness Indicators for the Banking Sector; APPENDICES; I. Belgian Covered Bonds and Financial Stability Considerations; II. Main Recommendations of the 2006 FSAP; III. Crisis Intervention and Restructuring Measures; IV. Risk Assessment Matrix 327 $aV. Overview of Stress Tests for Banks ANNEX; I. Report on the Observance of Standards and Codes-Summary Assessments; BASEL CORE PRINCIPLES FOR EFFECTIVE BANKING SUPERVISION; A. Background; B. NBB Approach to Supervision; C. Assessment Challenges; D. Preconditions for Effective Supervision; E. Main Findings; F. Authorities' Response to the Assessment; INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS (IAIS) INSURANCE CORE PRINCIPLES; A. Background; B. Preconditions for Effective Securities Regulation; C. Main Findings; D. Authorities' Response to the Assessment 330 3 $aThis financial stability assessment provides an update on the significant regulatory and supervisory developments in the banking and insurance sectors of Belgium since 2006. The Belgian financial system is relatively large with solid capital buffers on aggregate, and the 2008 global financial crisis has had a major impact on the Belgian financial sector. The links between banks and the Belgian sovereign have intensified owing to the crisis, with total exposure of the banking sector to the federal government at 10 percent of banking sector assets in mid-2012. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2013/124 606 $aMonetary policy$zBelgium 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aIndustries: Financial Services$2imf 606 $aInsurance$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aPension Funds$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aFinancial Instruments$2imf 606 $aInstitutional Investors$2imf 606 $aBankruptcy$2imf 606 $aLiquidation$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aInsurance Companies$2imf 606 $aActuarial Studies$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aInsurance & actuarial studies$2imf 606 $aInsurance companies$2imf 606 $aCommercial banks$2imf 606 $aSolvency$2imf 606 $aStress testing$2imf 606 $aFinancial institutions$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aBanks and banking$2imf 606 $aDebt$2imf 606 $aFinancial risk management$2imf 607 $aBelgium$xEconomic conditions 607 $aBelgium$2imf 615 0$aMonetary policy 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aIndustries: Financial Services 615 7$aInsurance 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aPension Funds 615 7$aNon-bank Financial Institutions 615 7$aFinancial Instruments 615 7$aInstitutional Investors 615 7$aBankruptcy 615 7$aLiquidation 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aInsurance Companies 615 7$aActuarial Studies 615 7$aFinance 615 7$aBanking 615 7$aInsurance & actuarial studies 615 7$aInsurance companies 615 7$aCommercial banks 615 7$aSolvency 615 7$aStress testing 615 7$aFinancial institutions 615 7$aFinancial sector policy and analysis 615 7$aBanks and banking 615 7$aDebt 615 7$aFinancial risk management 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910779768703321 996 $aBelgium$91770056 997 $aUNINA