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National Bank of Belgium

  • Mardi 9/11/2021
    National Bank of Belgium / FSMA

    This article summarises the main findings of the most recent joint update report on asset management and Non-bank financial intermediation (NBFI) by the Financial Services and Markets Authority (FSMA) and National Bank of Belgium (NBB), published on 6 May 2021. It is the third update of the joint NBB-FSMA report on Asset management and NBFI, formerly referred to as shadow banking, which was submitted to the Minister of Finance and the High-Level Expert Group (HLEG) , and subsequently published, in September 2017.

  • Lundi 11/10/2021
    National Bank of Belgium

    Since the outbreak and global spread of COVID-19, central banks and governments worldwide have provided massive stimulus to the economy. Looking ahead, however, the question rises whether monetary policy by central banks and fiscal policy by governments will be able to respond with the same vigour and effectiveness to future crises, given structurally low interest rates and higher government debt. This article takes a closer look at the different options to build back fiscal buffers. Do countries need forceful consolidation, can countries grow out of debt or should central banks simply cancel the debts? The analysis is two-fold. The first part empirically assesses the potential of some traditional avenues to bring public debt dynamics in Belgium under control. The second part is more conceptual, critically evaluating the rather heterodox proposal of cancelling government debt on the central bank balance sheet.

  • Mardi 26/3/2019
    NBB

    In recent years, the financial sector has been characterised by an increasing degree of digitalisation and the introduction of numerous new applications, processes or products under the impetus of technological innovations and changed preferences of the consumer. Digital transformation and fintech are concepts that are closely intertwined. They are characterised on the one hand by the entry into the market of new innovative service providers and on the other hand initiatives of existing institutions whereby the organisation, the processes, the service provision and the product range are improved through technological innovations. Fintech and digitalisation have a significant impact on individual banks but also on the sector as a whole. In order to gather a sector-wide insight into the important trends and evolutions regarding fintech and digitalisation in the Belgian financial landscape, the NBB has started an analysis, based on a survey among and discussions with Belgian banks, to solicit general insights into and observations about fintech, views on certain specific business models and technologies, and the concrete fintech strategy followed by Belgian banks. This report summarises the results of that analysis and wishes to contribute to raising awareness about the risks and opportunities of fintech. It also aims to share knowledge about the development of fintech in the Belgian banking sector, and to provide support to institutions in dealing with certain fintech-related challenges, by sharing best practices observed.

  • Mercredi 27/6/2018

    This article is composed of excerpts from the 2017 annual report of the National Bank of Belgium (“Report 2017 - Economic and financial developments, NBB, March 2018), the FSAP results and recommendations published by the IMF on 8 March 2018 (Belgium : Financial System Stability Assessment”, IMF, March 2018) and the press release issued by the NBB at the time (IMF stress tests confirm that Belgian banks and insurance companies are able to withstand severe shocks, NBB, 8 March 2018).