Regulatory Alerts2018-12-01
Added · Updated
Annual disclosure regarding the designation of and capital surcharges on Belgian O-SIIs (1 December 2018)
The NBB maintains the O-SII designations for eight Belgian institutions: BNP Paribas Fortis, KBC Group, Belfius Bank, ING Belgium, Euroclear, The Bank of New York Mellon, Argenta, and Axa Bank Belgium. These entities are assigned to one of two buckets determining their Common Equity Tier 1 capital surcharge rates, with the first four banks in Bucket 2 facing a 1.5% surcharge and the remaining four in Bucket 1 facing a 0.75% surcharge. These capital requirements, established under Article 14 of Annex IV of the Belgian Banking Law, were phased in over a three-year period starting on 1 January 2016.
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