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Reciprocation of the Belgian systemic risk buffer

Supervision consultation
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Published: 30 August 2022

The ESRB has recommended the reciprocation of a macroprudential measure taken by the National Bank of Belgium. DNB intends to reciprocate this measure in order to prevent the materialization of negative cross-border effects in the form of leakages and regulatory arbitrage.

Details of the measure

The measure consists of a 9 % systemic risk buffer rate on all IRB retail exposures to natural persons secured by residential immovable property for which the collateral is located in Belgium (both non-defaulted and defaulted exposures).

Applicability of the measure

As a result of reciprocation, this measure would apply to the relevant exposures of branches of Dutch credit institutions in Belgium and to relevant cross-border exposures of Dutch credit institutions to Belgium. An institution-specific threshold of EUR 2 billion applies. The measure becomes binding when credit institutions’ relevant sectoral exposures through branches and direct cross-border exposures exceed this threshold. The Belgian measure is applied under Article 133 of Directive 2013/36/EU (CRD).

Responding to the consultation

Interested parties are invited to respond until 1 October 2022, and raise, for instance, possible issues with respect to the implementation and application of the measure. During the consultation period, responses can be sent to: consultatie-reciprociteit@dnb.nl. A reaction to the consultation will be made public, unless stated otherwise by the respondent.

Additional information

For more information about reciprocity and measures reciprocated by DNB, click here.

For more information on the measure and the ESRB recommendation to reciprocate it, click here.

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