Regulatory Alerts2021-09-07
Added · Updated
Royal Decree amending the Royal Decree of 23 September 1992 on the annual accounts of credit institutions, investment firms and management companies of collective investment undertakings
This Royal Decree amends Article 36bis of the Royal Decree of 23 September 1992 to formally regulate the accounting treatment for macro-hedging of interest rate risk by credit institutions, replacing the previous system of individual derogations. It mandates that such hedging derivatives be kept off-balance sheet at notional amounts and requires prior authorization from the National Bank of Belgium, which must define application modalities via circular. The decree also introduces specific disclosure requirements for annual accounts and extends the validity of existing individual derogations until 31 December 2022 to allow institutions to obtain the new required authorization.
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