RegAlert2020-11-24 | NBB_2020_04Added
ECB Orientation on the threshold for assessing the significance of credit arrears (ECB/2020/32 of 25 June 2020)
Less significant credit institutions, broker-dealers, liquidation bodies, and branches of non-EEA entities in Belgium must apply a two-part threshold to assess the significance of credit arrears for default definition purposes: a fixed amount limit of 100 euros for retail exposures and 500 euros for other exposures, and a ratio limit of 1% of total exposures excluding equities. A default is considered to have occurred when both limits are exceeded for more than 90 consecutive days. Institutions must inform the National Bank of Belgium of the exact date they begin applying this threshold, with implementation required no later than 31 December 2020.
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NBB_2020 xx – 24 November 2020 Circular – Page 1/2 14 Berlaimont Boulevard – BE-1000 Brussels tel. +32 2 221 xx xx – fax + 32 2 221 xx xx company number: 0203.201.340 Brussels RPM www.bnb.be
Circular
Brussels, 24 November 2020
Reference: NBB_2020_044 your contact:
Claire Renoirte tel. +32 2 221 53 50 claire.renoirte@nbb.be
ECB Orientation on the threshold for assessing the significance of credit arrears (ECB/2020/32 of 25 June 2020)
Scope
Less significant credit institutions, broker-dealers, liquidation bodies and entities assimilated to liquidation bodies under Belgian law, and branches established in Belgium of credit institutions and broker-dealers subject to the law of a non-EEA country, both on a consolidated basis and on a solo basis (hereinafter 'the institutions').
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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
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