Royal Decree of 23 June 2019 approving the National Bank of Belgium Regulation of 13 June 2019 on the determination of the countercyclical tier 1 common equity capital buffer rate

FEDERAL PUBLIC SERVICE FINANCES [C - 2019/13477] 23 JUNE 2019. — Royal Decree approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer percentage

FILIP, King of the Belgians, To all present and future, Greetings.

Having regard to the Act of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2 and 36/34, § 2;

Having regard to the Act of 25 April 2014 on the status and supervision of credit institutions and stock exchange companies, Articles 98, first paragraph, a), and 5, §§ 1 and 2 of Annex IV;

On the proposal of the Minister of Finance,

We have decided and decide:

Article 1. The regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer percentage, attached to this Decree, is approved.

Art. 2. This Decree enters into force on 1 July 2019.

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

Given in Brussels, 23 June 2019.

FILIP By the King: The Minister of Finance, A. DE CROO

FEDERAL PUBLIC SERVICE FINANCES [C - 2019/13477] 23 JUNE 2019. — Royal Decree approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer rate

PHILIPPE, King of the Belgians, To all, present and future, Greetings.

Having regard to the Act of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2, and 36/34, § 2;

Having regard to the Act of 25 April 2014 on the status and supervision of credit institutions and stock exchange companies, Articles 98, first paragraph, a), and 5, §§ 1 and 2 of Annex IV;

On the proposal of the Minister of Finance,

We have decided and decide:

Article 1. The regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer rate, annexed to this Decree, is approved.

Art. 2. This Decree enters into force on 1 July 2019.

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

Given in Brussels, 23 June 2019.

PHILIPPE By the King: The Minister of Finance, A. DE CROO

66200 MONITEUR BELGE — 28.06.2019 — BELGISCH STAATSBLAD

Annex to the Royal Decree of 23 June 2019 approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer percentage

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

Having regard to the Act of 25 April 2014 on the status and supervision of credit institutions and stock exchange companies (hereinafter the Act of 25 April 2014), Articles 96, § 1, 2°, and § 2, 98, first paragraph, a), 552 and 554, as well as Article 5, §§ 1 and 2 of Annex IV of the same Act;

Having regard to the Act of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2, and 36/34, § 2,

Decides:

Article 1. Material Scope This regulation applies to credit institutions under Belgian law as referred to in Book II of the Act of 25 April 2014, as well as to stock exchange companies under Belgian law as referred to in Book XII, Title II of the same Act, which carry out the activities referred to in Article 2, 1°, 3 and 6, of the Act of 25 October 2016 concerning access to the investment services business and concerning the status and supervision of portfolio management companies and investment advice companies.

Art. 2. Countercyclical tier 1 common equity capital buffer percentage In application of Article 5, § 2, of Annex IV to the Act of 25 April 2014, the Bank sets the countercyclical tier 1 common equity capital buffer percentage for relevant credit risk exposures to counterparties established on Belgian territory at 0.5%.

The relevant credit risk exposures are determined in accordance with the technical standards referred to in Article 3, paragraph 2, of Annex IV to the Act of 25 April 2014.

Art. 3. Temporal Scope § 1. The increased buffer percentage referred to in Article 2 shall be applied by credit institutions and stock exchange companies from 1 July 2020. Until 30 June 2020, a countercyclical tier 1 common equity capital buffer percentage of 0% applies.

§ 2. The increased buffer percentage referred to in Article 2 is automatically renewed every three months, starting three months after the date determined in paragraph 1.

Art. 4. Entry into force In accordance with Article 5, § 4, of Annex IV to the Act of 25 April 2014, this regulation enters into force on 1 July 2019.

Brussels, 13 June 2019. The Governor, P. WUNSCH

Seen to be attached to our Decree of 23 June 2019 approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer percentage.

FILIP By the King: The Minister of Finance, A. DE CROO

Annex to the Royal Decree of 23 June 2019 approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer rate

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

Having regard to the Act of 25 April 2014 on the status and supervision of credit institutions and stock exchange companies (hereinafter the Act of 25 April 2014), Articles 96, § 1, 2°, and § 2, 98, first paragraph, a), 552 and 554, as well as Article 5, §§ 1 and 2 of Annex IV of the same Act;

Having regard to the Act of 22 February 1998 establishing the organic statute of the National Bank of Belgium, Articles 12bis, § 2, and 36/34, § 2,

Decides:

Article 1. Material Scope This regulation applies to credit institutions under Belgian law referred to in Book II of the Act of 25 April 2014, as well as to stock exchange companies under Belgian law referred to in Book XII, Title II of the same Act, which carry out the activities referred to in Article 2, 1°, 3 and 6, of the Act of 25 October 2016 concerning access to the investment services business and concerning the status and supervision of portfolio management companies and investment advice companies.

Art. 2. Countercyclical tier 1 common equity capital buffer rate In application of Article 5, § 2, of Annex IV to the Act of 25 April 2014, the Bank sets the countercyclical tier 1 common equity capital buffer rate for relevant credit risk exposures to counterparties established on Belgian territory at 0.5%.

The relevant credit risk exposures are determined in accordance with the technical standards referred to in Article 3, paragraph 2, of Annex IV to the Act of 25 April 2014.

Art. 3. Temporal Scope § 1. The increased buffer rate referred to in Article 2 shall be applied by credit institutions and stock exchange companies from 1 July 2020. The countercyclical tier 1 common equity capital buffer rate applicable until 30 June 2020 is 0%.

§ 2. The increased buffer rate referred to in Article 2 is automatically renewed every three months, for the first time three months after the date fixed in paragraph 1.

Art. 4. Entry into force In accordance with Article 5, § 4, of Annex IV to the Act of 25 April 2014, this regulation enters into force on 1 July 2019.

Brussels, 13 June 2019. The Governor, P. WUNSCH

Seen to be annexed to our Decree of 23 June 2019 approving the regulation of 13 June 2019 of the National Bank of Belgium on the determination of the countercyclical tier 1 common equity capital buffer rate.

PHILIPPE By the King: The Minister of Finance, A. DE CROO

MONITEUR BELGE — 28.06.2019 — BELGISCH STAATSBLAD 66201