LEADER 06755oam 22012134 450 001 9910817680903321 005 20240402023755.0 010 $a1-4843-7890-3 010 $a1-4843-7315-4 010 $a1-4843-9146-2 035 $a(CKB)2670000000420208 035 $a(EBL)1587958 035 $a(SSID)ssj0001075344 035 $a(PQKBManifestationID)11603261 035 $a(PQKBTitleCode)TC0001075344 035 $a(PQKBWorkID)11245175 035 $a(PQKB)10754575 035 $a(MiAaPQ)EBC1587958 035 $a(Au-PeEL)EBL1587958 035 $a(CaPaEBR)ebr10739442 035 $a(OCoLC)868488270 035 $a(IMF)1BELEE2013007 035 $a(IMF)1BELEA2013007 035 $a(EXLCZ)992670000000420208 100 $a20020129d2013 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBelgium : $eTechnical Note on Stress Testing the Banking and Insurance Sectors 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2013. 215 $a1 online resource (105 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4843-8106-8 320 $aIncludes bibliographical references. 327 $aCover; 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; TABLES 327 $a1. 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 Developments 327 $a2. 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 Stress 327 $aAPPENDICES 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 NBB 330 3 $aThe Belgium Financial Sector Assessment Program (FSAP) stress testing exercise examines a financial sector that remains in a state of transformation. Domestic economic challenges remain sources of continued uncertainty as the banking sector consolidates and reduces funding risks. Insurers face challenges from adverse economic and business conditions. Solvency and funding shocks under different macroeconomic scenarios were assessed. Both banking and insurance tests underscore the importance of sovereign risk for financial stability. The implementation of stress tests needs to be closely aligned with the resolution and recovery planning. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2013/137 606 $aBanks and banking$xRisk management$zBelgium 606 $aInsurance$xRisk management$zBelgium 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aBankruptcy$2imf 606 $aLiquidation$2imf 606 $aFinance$2imf 606 $aBanking$2imf 606 $aFinancial services law & regulation$2imf 606 $aStress testing$2imf 606 $aLiquidity requirements$2imf 606 $aBasel III$2imf 606 $aSolvency$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aFinancial regulation and supervision$2imf 606 $aSolvency stress testing$2imf 606 $aBanks and banking$2imf 606 $aFinancial risk management$2imf 606 $aState supervision$2imf 606 $aDebt$2imf 607 $aBelgium$2imf 615 0$aBanks and banking$xRisk management 615 0$aInsurance$xRisk management 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aBankruptcy 615 7$aLiquidation 615 7$aFinance 615 7$aBanking 615 7$aFinancial services law & regulation 615 7$aStress testing 615 7$aLiquidity requirements 615 7$aBasel III 615 7$aSolvency 615 7$aFinancial sector policy and analysis 615 7$aFinancial regulation and supervision 615 7$aSolvency stress testing 615 7$aBanks and banking 615 7$aFinancial risk management 615 7$aState supervision 615 7$aDebt 676 $a332.152 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910817680903321 996 $aBelgium$91770056 997 $aUNINA