RegAlert2020-07-30
Added · Updated
NBB Macroprudential Communication on dividend distributions
The NBB urges all Belgian credit institutions and insurance and reinsurance undertakings active in the Belgian financial market to refrain from dividend distributions, share buy-backs, and variable remuneration obligations until at least 1 January 2021. This macroprudential endorsement requires the comprehensive application of existing microprudential restrictions to ensure financial stability and preserve the sector's resilience against downside risks related to the COVID-19 crisis. The directive applies to all such entities regardless of whether they are subsidiaries in an international group.
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Circulars and communications
Publication date
Area of responsiblity
Cross-cutting and international aspects
Financial stability
Following earlier communications by the ECB and the European supervisory authorities (ESAs) requesting financial institutions to refrain from dividend distributions (and other similar actions), the European Systemic Risk Board (ESRB) published on 27 May 2020 an additional recommendation to relevant authorities (ESRB/2020/7).
In this recommendation the ESRB urges the relevant authorities, including national macroprudential authorities, to request the financial institutions under their supervisory remit to refrain from undertaking any of the following actions at least until 1 January 2021:
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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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