Royal Decree of 27 November 2015 approving the National Bank of Belgium Regulation of 10 November 2015 on the method for qualifying domestic systemically important institutions and determining the amount of their Tier 1 core equity buffer

Royal Decree of 27 November 2015 approving the National Bank of Belgium Regulation of 10 November 2015 on the method for qualifying domestic systemically important institutions and determining the amount of their Tier 1 core equity buffer

FILIP, King of the Belgians,

To all who are and hereafter shall be, Greetings.

Having regard to the Law of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2 and 36/34, § 2;

Having regard to Annex IV to the Law of 25 April 2014 on the status and supervision of credit institutions, Article 14, §§ 1, 2 and 3;

On the proposal of the Minister of Finance,

We have decided and decree:

Article 1. The Regulation of 10 November 2015 of the National Bank of Belgium on the method for qualifying institutions as domestic systemically important institutions and determining the amount of their Tier 1 core equity buffer, attached to this Decree, is approved.

Art. 2. This Decree enters into force on 1 January 2016.

Art. 3. The Minister responsible for Finance is charged with the execution of this Decree.

Given in Brussels, 27 November 2015.

FILIP

By the King:

The Minister of Finance,
J. VAN OVERTVELDT

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Annex to the Royal Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium on the method for qualifying institutions as domestic systemically important institutions and determining the amount of their Tier 1 core equity buffer

The National Bank of Belgium (hereinafter the "Bank"),

Having regard to the Law of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2, and 36/34, § 2;

Having regard to Annex IV to the Law of 25 April 2014 on the status and supervision of credit institutions (hereinafter, the "Law of 25 April 2014"), Article 14, §§ 1, 2 and 3;

Having regard to the consultation of enterprises,

Decides:

Scope of Application

Article 1. This Regulation applies to:

1. Credit institutions as referred to in Article 1, § 3 of the Law of 25 April 2014;
2. Financial holding companies in a Member State as referred to in Article 164, § 2, 5° of the Law of 25 April 2014;
3. Mixed financial holding companies in a Member State as referred to in Article 164, § 2, 8° of the Law of 25 April 2014,

hereinafter the "institutions".

Method for Qualifying Institutions as Domestic Systemically Important Institutions

Art. 2. § 1. In application of Article 14, § 1 of the Law of 25 April 2014, the Bank determines annually which institutions must be qualified as domestic systemically important institutions within the meaning of Article 11, b), of Annex IV to the Law of 25 April 2014 (hereinafter "DSI").

§ 2. For the application of paragraph 1, the Bank applies the method and criteria set out in Titles I to III of the European Banking Authority Guidelines No. 2014/10 on criteria to determine the conditions for the application of Article 131, paragraph 3, of Directive 2013/36/EU (Capital Requirements Directive) regarding the assessment of other systemically important institutions (OSI) (hereinafter "Guidelines No. 2014/10"), with the understanding that in Guidelines No. 2014/10:

— by "relevant entities", institutions are understood; — by "authority" or "relevant authority", the Bank is understood; — by "Member State", Belgium is understood; — by "other systemically important institution" respectively "OSI" and by "domestic systemically important institution" respectively DSI is understood.

§ 3. The Bank implements the provision referred to in paragraph 1 based on the consolidated position of the institutions.

Furthermore, the Bank implements the provision referred to in paragraph 1 based on the individual position of the credit institutions.

§ 4. On the basis of paragraphs 1 to 3, the following institutions are qualified as a DSI:

— Investeringsmaatschappij Argenta;
— Argenta Bank- en Verzekeringsgroep;
— Argenta Spaarbank;
— Axa Bank europe;
— Belfius Bank;
— BNP Paribas Fortis;
— Euroclear;
— ING België;
— KBC Groep;
— KBC Bank;
— The Bank of New York Mellon.

Method for Determining the Amount of the Tier 1 Core Equity Buffer of Domestic Systemically Important Institutions and Fixing the Amount

Art. 3. § 1. In application of Article 14, § 2 of Annex IV to the Law of 25 April 2014, the Bank divides the institutions referred to in Article 2, § 4, into two categories, based inter alia on their total score for systemic importance, as referred to in Article 8 of Guidelines No. 2014/10.

§ 2. Consequently, the following institutions must comply with an additional Tier 1 core equity buffer:

— Belfius Bank;
— BNP Paribas Fortis;
— ING België;
— KBC Groep;
— KBC Bank.

This additional Tier 1 core equity buffer amounts to:

— 0.5 % from 1 January 2016;
— 1 % from 1 January 2017;
— 1.5 % from 1 January 2018.

§ 3. Consequently, the following institutions must comply with an additional Tier 1 core equity buffer:

— Investeringsmaatschappij Argenta;
— Argenta Bank- en Verzekeringsgroep;
— Argenta Spaarbank;
— Axa Bank europe;
— Euroclear;
— Euroclear Bank;
— The Bank of New York Mellon.

Entry into Force

Art. 4. This Regulation enters into force on 1 January 2016. It remains in force until the Bank, pursuant to Article 15, second paragraph of Annex IV to the Law of 25 April 2014, revises the qualification of an institution as a DSI or the requirement for a DSI of an additional Tier 1 core equity buffer as determined in Article 3.

Brussels, 10 November 2015.

The Governor,
J. SMETS

Seen to be attached to Our Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium on the method for qualifying institutions as domestic systemically important institutions and determining the amount of their Tier 1 core equity buffer.

FILIP

By the King:

The Minister of Finance,
J. VAN OVERTVELDT

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Law withdrawing Article 96 of the Law of 26 December 2013 on the introduction of a unified status between workers and employees regarding notice periods and the waiting day and accompanying measures and amending Article 40 of the Law of 4 August 1996 on the well-being of workers in the performance of their work

FILIP, King of the Belgians,

To all who are and hereafter shall be, Greetings.

The Chamber of Representatives has adopted and We ratify the following:

CHAPTER I. — General Provisions

Article 1. This Law regulates a matter as referred to in Article 74 of the Constitution.

CHAPTER II. — Withdrawal

of a provision that has not yet entered into force

Art. 2. Article 96 of the Law of 26 December 2013 on the introduction of a unified status between workers and employees regarding notice periods and the waiting day and accompanying measures is withdrawn.