Royal Decree of 18 December 2015 amending the Royal Decree of 27 November 2015 approving the National Bank of Belgium's Regulation of 10 November 2015 on the method for designating domestic systemically important institutions and determining their Tier 1 core capital buffer

FEDERAL PUBLIC SERVICE FINANCES
[C − 2015/03472]
18 DECEMBER 2015. — Royal Decree amending the Royal Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium concerning the method for designating institutions as domestic systemically important institutions and determining the amount of their Tier 1 core capital buffer

PHILIP, King of the Belgians,
To all whom these presents shall come, Greeting.

Having regard to the Law of 22 February 1998 establishing the organic statute of the National Bank of Belgium; Articles 12bis, § 2 and 36/34, § 2; Having regard to Annex IV to the Law of 25 April 2014 on the status and supervision of credit institutions, Article 14, §§ 1, 2 and 3; Having regard to the Royal Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium concerning the method for designating institutions as domestic systemically important institutions and determining the amount of their Tier 1 core capital buffer; On the proposal of the Minister of Finance, We have decided and decide:

Article 1. The annex to the Royal Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium concerning the method for designating institutions as domestic systemically important institutions and determining the amount of their Tier 1 core capital buffer, is replaced by the annex to this Decree.

Art. 2. This Decree enters into force on 1 January 2016.

Art. 3. The Minister responsible for Finance is charged with the execution of this Decree.

Given in Brussels, 18 December 2015.

PHILIP
By the King:
The Minister of Finance,
J. VAN OVERTVELDT

Annex to the Royal Decree of 18 December 2015 amending the Royal Decree of 27 November 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium concerning the method for designating institutions as domestic systemically important institutions and determining the amount of their Tier 1 core capital buffer

The National Bank of Belgium (hereinafter the "Bank"),

Having regard to the Law of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2 and 36/34, § 2; Having regard to Annex IV to the Law of 25 April 2014 on the status and supervision of credit institutions (hereinafter, the "Law of 25 April 2014"), Article 14, §§ 1, 2 and 3; Having regard to the consultation of undertakings, Decides:

Scope

Article 1. This Regulation applies to:
1° credit institutions, as referred to in Article 1, § 3 of the Law of 25 April 2014; 2° financial parent companies in a Member State, as referred to in Article 164, § 2, 5° of the Law of 25 April 2014; 3° mixed financial parent companies in a Member State, as referred to in Article 164, § 2, 8° of the Law of 25 April 2014, hereinafter the "institutions".

Method for designating institutions as domestic systemically important institutions

Art. 2. § 1. In application of Article 14, § 1 of the Law of 25 April 2014, the Bank determines annually which institutions are to be designated as a domestic systemically important institution within the meaning of Article 11, b), of Annex IV to the Law of 25 April 2014 (hereinafter "DSII").

§ 2. For the application of paragraph 1, the Bank applies the method and criteria set out in Titles I to III of the European Banking Authority Guidelines No. 2014/10 on the criteria to be used to determine the conditions for the application of Article 131(3) of Directive 2013/36/EU (CRD) regarding the assessment of other systemically important institutions (OSI) (hereinafter "Guidelines No. 2014/10"), with the understanding that in Guidelines No. 2014/10:
— under "relevant entities", institutions are understood; — under "authority" or "competent authority", the Bank is understood; — under "Member State", Belgium is understood; — under "other systemically important institution" or "OSI" and under a domestic systemically important institution, DSII is respectively understood.

§ 3. The Bank implements the provision referred to in paragraph 1 on the basis of the consolidated position of the institutions.
Furthermore, the Bank implements the provision referred to in paragraph 1 on the basis of the individual position of the credit institutions.

§ 4. On the basis of paragraphs 1 to 3, the following institutions are designated as a DSII:
— Investeringsmaatschappij Argenta;
— Argenta Bank- en Verzekeringsgroep;
— Argenta Spaarbank;
— Axa Bank Europe;
— Belfius Bank;
— BNP Paribas Fortis;
— Euroclear;
— Euroclear Bank;
— ING België;
— KBC Groep;
— KBC Bank;
— The Bank of New York Mellon.

Method for determining the amount of the Tier 1 core capital buffer of domestic systemically important institutions and fixing the amount

Art. 3. § 1. In application of Article 14, § 2, of Annex IV to the Law of 25 April 2014, the Bank divides the institutions referred to in Article 2, § 4, into two categories, based inter alia on their total score for systemic importance, as referred to in Article 8 of Guidelines No. 2014/10.

§ 2. Consequently, the following institutions must comply with an additional Tier 1 core capital buffer:
— Belfius Bank;
— BNP Paribas Fortis;
— ING België;
— KBC Groep;
— KBC Bank.

This additional Tier 1 core capital buffer amounts to:
— 0.5 % from 1 January 2016;
— 1 % from 1 January 2017;
— 1.5 % from 1 January 2018.

§ 3. Consequently, the following institutions must comply with an additional Tier 1 core capital buffer:
— Investeringsmaatschappij Argenta;
— Argenta Bank- en Verzekeringsgroep;
— Argenta Spaarbank;
— Axa Bank Europe;
— Euroclear;
— Euroclear Bank;
— The Bank of New York Mellon.

This additional Tier 1 core capital buffer amounts to:
— 0.25 % from 1 January 2016;
— 0.5 % from 1 January 2017;
— 0.75 % from 1 January 2018.

§ 4. The Tier 1 core capital buffers referred to in paragraphs 2 and 3 must be complied with on the basis of the consolidated position of the institutions.
Furthermore, the Tier 1 core capital buffers referred to in paragraphs 2 and 3 must be complied with on the basis of the individual position of the credit institutions.

Entry into force

Art. 4. This Regulation enters into force on 1 January 2016. It remains in force until the Bank, pursuant to Article 15, second paragraph of Annex IV to the Law of 25 April 2014, revises the qualification of an institution as a DSII or the requirement for a DSII of an additional Tier 1 core capital buffer as determined in Article 3.

Brussels, 10 November 2015.
The Governor,
J. SMETS

Approved to be annexed to Our Decree of 18 December 2015 approving the Regulation of 10 November 2015 of the National Bank of Belgium concerning the method for designating institutions as domestic systemically important institutions and determining the amount of their Tier 1 core capital buffer.

Given in Brussels, 18 December 2015.

PHILIP
By the King:
The Minister of Finance,
J. VAN OVERTVELDT

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PHILIP, King of the Belgians,
To all whom these presents shall come, Greeting.

Having regard to the Social Criminal Code, Article 100/3, § 3, inserted by the Law of 29 March 2012; Having regard to the Royal Decree of 10 July 2013 implementing Chapter 5 "Regulation of certain aspects of the electronic exchange of information between the actors fighting illegal work and social fraud" of Title 5 of Book 1 of the Social Criminal Code; Having regard to the opinions of the Tax Inspectors, given on 14 September 2015, on 23 September 2015 and on 29 September 2015; Having regard to Opinion No. 58.388/1 of the Council of State, given on 25 November 2015, in application of Article 84, § 1, first paragraph, 2°, of the Laws on the Council of State, coordinated on 12 January 1973;