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RBF numérique 2022/02

  • Mardi 8/2/2022

    20 years ago, as Commissioner-General for the euro commission, Jan Smets was responsible for the introduction of the single currency in Belgium.  The first part of this article is a reproduction of the blog published on the website of the NBB on 29 December 2021 in which the Honorary Governor gives a personal analysis at the occasion of the 20th anniversary of the euro. The second part, based on an NBB press release of 28 December 2021, offers an overview of 20 years of the euro on the basis of 20 striking figures.

    Het was een heel spannend moment, op oudejaar 20 jaar geleden, toen de eurobiljetten en -muntstukken voor het eerst in omloop kwamen. De “changeover”, zoals de operatie werd genoemd, was minutieus voorbereid door het commissariaat-generaal voor de euro en de Nationale Bank. De productie van de euro’s, de bevoorrading vooraf (of zogenaamde frontloading) van banken, warenhuizen, handelaars en tot slot ook de burgers (met starterkits), de terugtrekking van het Belgische geld… alles moest heel zorgvuldig worden gepland én uitgevoerd. Dat lukte aardig, mede dankzij de medewerking van alle stakeholders (banken, handel, overheid…) maar vooral ook omdat de Belgen hun nieuwe munt omarmden. Half januari 2002 al was de Belgische frank vrijwel uit het betalingsverkeer verdwenen.

  • Mardi 8/2/2022

    For the financial markets, Brexit is really Brexit. Due to the rather limited market integration between the European and British financial worlds, the consequences are limited. As of yet, Brussels has not been able to seize all its opportunities. A targeted industrial policy can transform it into a more important financial hub.

    Voor de financiële markten is Brexit ook echt Brexit. Door de beperkte marktintegratie zijn de gevolgen evenwel beperkt. Brussel heeft zijn kansen als financieel centrum tot nu toe niet kunnen grijpen, maar een gericht industrieel beleid kan daar verandering in brengen.

  • Mardi 8/2/2022
    Bégasse de Dhaem / Mention / Romont

    This study by the National Bank of Belgium (NBB) analyses the trends, developments, opportunities, risks, and threats related to digitisation in the Belgian banking sector, to the use of innovative technologies and to the entry into the market of new players and competitors. Following up on the NBB’s 2017 prior study of digitisation and of fintech in the Belgian banking sector, this renewed study provides an updated overview of those trends and developments, and of the initiatives illustrating the digital transformation of Belgian banks. The study concludes with the NBB's observations and recommendations, formulating a number of points for attention with respect to both the organisation and the functioning of Belgian banks, while emphasising the importance of an active dialogue.

  • Mardi 8/2/2022
    Bisciari / Gelade / Melyn

    This article analyses the Recovery and Resilience Plans submitted by the four big euro area countries (Germany, France, Italy and Spain) and Belgium. These Plans describe the investments and reforms that they intend to carry out with a view to strengthening their economies. A s required, the five countries considered will use the EU grants mainly to finance green and digital investment. Italy, Spain and France also intend to spend about 1/3 of the grants on other projects such as labour market, education and skills; R&D and innovation; cohesion; health;... In exchange for a higher share of grants, Italy and Spain have committed to more comprehensive reforms designed to effectively address their imbalances and structural weaknesses than Germany, France and Belgium. Italy and Spain have already implemented substantial reforms in 2021 before the first instalment of grants was requested. Others will follow as soon as in 2022. Going forward, actual implementation will be key. In Belgium, the EU grants should be an opportunity to help push through structural reforms supporting the green and digital transitions and enhancing the growth potential.