RegAlert2022-03-23 | NBB_2022_08Added · Updated
Circular NBB_2022_08 / Management of Liquidity Risk
This circular establishes the National Bank of Belgium's expectations for the governance and management of liquidity risk by Belgian insurance and reinsurance undertakings, including branches of third-country entities and group supervisors. It mandates the implementation of risk appetite statements, identification of liquidity risk factors, continuous monitoring via indicators, and the execution of prospective stress tests and scenario analyses. Significant undertakings are required to submit an annual report on liquidity risk management, while less significant entities must do so at least every three years, with the first report due in 2023.
NBB published 1 document in the last 30 days — get each new one by email the day it lands.
14 Berlaimontlaan - BE-1000 Brussels
Tel. +32 2 221 27 31 - Fax +32 2 221 31 36
Company number: 0203.201.340
RPM Brussels www.nbb.be
NATIONAL BANK OF BELGIUM
Circular
Brussels, 23 March 2022
Reference:
Your correspondence
Christel Beaujean tel. +32 2 221 30 59 christel.beaujean@nbb.be
NBB 2022 08
Management of Liquidity Risk
Scope
Insurance and reinsurance undertakings governed by Belgian law (excluding small insurance undertakings governed by Belgian law as referred to in Articles 275 and 276 or local insurance undertakings as referred to in Article 294 of the Solvency II Act), Branches established in Belgium of insurance or reinsurance undertakings governed by the law of a third country (a state that is not a member of the European Economic Area), Entities responsible for an insurance or reinsurance group within the meaning of Articles 339, 2°, and 343, second paragraph, 1° and 2° of the Solvency II Act, to which the Bank has been appointed as group supervisor within the meaning of Articles 407 and 408 of that Act, Mutual insurance companies as defined in Article 15, 79° of the Solvency II Act. For these undertakings, "the Bank" is to be replaced by "the Control Service for the sickness funds and the national federation of sickness funds".
Read the rest free, and get an email when NBB publishes again
Lineage: In force
Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
More like this from NBB
NBB published 1 document in the last 30 days. We email you each new one the day it's published.