Regulatory Alerts2020-12-18
Added · Updated
Macroprudential Communication on restrictions of profit distributions by Belgian financial institutions
Belgian financial institutions must refrain from profit distributions until at least 30 September 2021, unless strict conditions are met and distributions are limited to a very prudent level. The National Bank of Belgium urges all credit institutions and insurance undertakings active in the Belgian market to strictly apply these restrictions to preserve sector resilience and ensure a level-playing field. This macroprudential stance endorses specific microprudential recommendations from the ECB and ESRB, requiring that any resumed distributions remain significantly lower than pre-crisis levels and do not compromise the quantity or quality of own funds.
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