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

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...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2023
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Belgium  |b Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management 
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300 |a 34 pages 
651 4 |a Belgium 
653 |a Economic & financial crises & disasters 
653 |a Financial safety nets 
653 |a International Organizations 
653 |a Finance 
653 |a Bank resolution framework 
653 |a Financial crises 
653 |a Lender of last resort 
653 |a Monetary economics 
653 |a Bank resolution 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a International agencies 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Crisis management 
653 |a International organization 
653 |a Crisis resolution 
653 |a Banks and banking, Central 
653 |a Crisis Management 
653 |a International institutions 
653 |a Banks and Banking 
653 |a International Economics 
653 |a Financial services industry 
653 |a Monetary policy 
653 |a Financial Risk Management 
653 |a Monetary Policy 
653 |a Money and Monetary Policy 
653 |a Finance: General 
653 |a International Agreements and Observance 
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520 |a 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