Regulatory Alerts2015-11-27
Added · Updated
Royal Decree Approving the National Bank of Belgium's Regulation on Qualifying Domestic Systemically Important Institutions and Determining Their Tier 1 Core Capital Buffer
The National Bank of Belgium designates eleven specific financial institutions, including Argenta, Axa Bank Europe, Belfius, BNP Paribas Fortis, Euroclear, ING Belgium, KBC Group, KBC Bank, and The Bank of New York Mellon, as domestic systemically important institutions (DSIIs). These institutions are divided into two categories based on systemic importance scores, with the first category (Belfius, BNP Paribas Fortis, ING Belgium, KBC Group, and KBC Bank) required to maintain an additional Tier 1 core capital buffer of 0.5% from January 1, 2016, increasing to 1% in 2017 and 1.5% in 2018. The second category (Argenta entities, Axa Bank Europe, Euroclear entities, and The Bank of New York Mellon) is also designated as DSIIs but is not subject to the specific additional buffer amounts listed for the first category in this text. The regulation and the approving Royal Decree enter into force on January 1, 2016.
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