Regulatory Alerts2014-05-07
Added · Updated
Act of 25 April 2014 on the legal status and supervision of credit institutions (Banking Act)
The Act establishes the comprehensive legal framework for credit institutions in Belgium, covering their establishment, governance, operational conditions, prudential supervision, and resolution. It mandates licensing requirements, defines capital and liquidity buffers, and outlines the powers of the National Bank of Belgium and the Financial Services and Markets Authority (FSMA) to supervise institutions and enforce corrective measures. The legislation also details the procedures for the resolution of failing credit institutions, including bail-in tools and the protection of shareholders and creditors, while regulating cross-border activities and group supervision.
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