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Law Establishing A Financial Stability Contribution And Amending The Royal Decree Of 14 November 2008 Implementing The Law Of 15 October 2008 On Measures Promoting Financial Stability And In Particular Establishing A Guaranteed

Original Language Title: Loi instaurant une contribution de stabilité financière et modifiant l'arrêté royal du 14 novembre 2008 portant exécution de la loi du 15 octobre 2008 portant des mesures visant à promouvoir la stabilité financière et instituant en particulier une garanti

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belgiquelex.be - Carrefour Bank of Legislation

28 DECEMBER 2011. - An Act to introduce a financial stability contribution and to amend the Royal Decree of 14 November 2008 implementing the Act of 15 October 2008 on measures to promote financial stability and, in particular, to establish a State guarantee on the credits granted and other transactions carried out in the context of financial stability, with regard to the protection of deposits, life insurances and capital of registered cooperative companies, and to amend the Act of 2 August 2002



ALBERT II, King of the Belgians,
To all, present and to come, Hi.
The Chambers adopted and We sanction the following:
CHAPTER 1er. - General provision
Article 1er. This Act regulates a matter referred to in Article 78 of the Constitution.
CHAPTER 2. - Implementing a financial stability contribution
Art. 2. A fund named "Resolution Fund" is established within the Caisse des Dépôts et Consignations.
The purpose of the Resolution Fund is to ensure the financing of measures to reduce the impact of the failure of a credit institution on the financial system and on the economic and social well-being of Belgium. He is mobilized by the King, by decree deliberately in the Council of Ministers, after obtaining the advice of the National Bank of Belgium.
The Belgian legal credit institutions referred to in Part II of the Act of 22 March 1993 relating to the status and control of credit institutions, with the exception of the electronic currency establishments referred to in Part IIbis of that Act, are required to join them.
The King regulates the organization and operation of the fund referred to in paragraph 1er.
Art. 3. The Resolution Fund is financed by the annual contributions of its participants.
The annual contributions to the Peacebuilding Fund are as follows:
a contribution of 0.035% of the outstanding, as of December 31 of the previous year, of the total of the reduced liability (i) of the amount of the deposits eligible for reimbursement by the Special Fund for the Protection of Deposits and Insurance on the life created in article 3 of the Royal Decree of November 14, 2008 relating to the enforcement of the law of October 15, 2008 relating to measures to promote financial stability and in particular establishing a guarantee of
The King sets out the payment modalities for these contributions.
The Resolution Fund provides the annual contributions referred to in the preceding paragraphs to the Consolidated Revenue Fund.
Art. 4. Except for cases where they are called to testify in court or before a parliamentary commission of inquiry, the Fund's officers of deposits and consignations responsible for the management of the Resolution Fund and any person who is required to cooperate in the management or control of the Resolution Fund may not disclose to any person or authority the confidential information that they hold because of their functions for the operation of the Resolution Fund.
It is an exception to the prohibition under paragraph 1er for communications of information to the prudential control authority as part of the necessary collaboration with that body.
Offences under this section shall be punished by the penalties provided for in Article 458 of the Criminal Code.
The provisions of Book Ier the Criminal Code, without exception of Chapter VII and Article 85, shall apply to offences under this section.
Art. 5. The King may amend and/or repeal all or part of Royal Decree No. 150 of 18 March 1935, coordinating the laws relating to the organization and operation of the Caisse des Dépôts et Consignations and making amendments thereto under the Act of 31 July 1934, in order to ensure its consistency with this chapter.
Art. 6. In its annual report, the Deposits and Consignations Fund provides a general overview of the Resolution Fund.
Art. 7. The National Bank of Belgium shall, at its request, communicate annually to the Resolution Fund the amount of the base as defined in section 3 for each subject institution.
CHAPTER 3. - Amendments to the Royal Decree of 14 November 2008 implementing the Act of 15 October 2008 on measures to promote financial stability and in particular establishing a State guarantee on the credits granted and other transactions carried out in the context of financial stability, with regard to the protection of deposits, life insurance, and capital of registered cooperative societies, and amending the Act of 2 August 2002 on the supervision of the financial sector and
Art. 8. Article 8 of the Royal Decree of 14 November 2008 implementing the Act of 15 October 2008 on measures to promote financial stability and, in particular, establishing a State guarantee on the credits granted and other transactions carried out in the context of financial stability, with regard to the protection of deposits and life insurance, and amending the Act of 2 August 2002 on the supervision of the financial sector and financial services, as amended by the following 23
1° § 1er, 1°, is replaced as follows:
"1° a contribution of 0.10 % of the stock, as of December 31 of the previous year, of deposits eligible for reimbursement, for the establishments referred to in Article 4, § 1er, 2° and 3°, with the exception of investment companies with the status of portfolio management and investment consulting company, and for credit establishment branches not falling within another Member State of the European Economic Area referred to in Article 4, § 1er1°. For the contribution due in 2012, the contribution percentage is 0.245%. For the contribution due in 2013, the contribution percentage is 0.15 per cent. »;
2° to § 1er, a 1° bis is inserted as follows:
"1° bis for Belgian credit institutions referred to in Article 4, § 1er, 1°, the contribution is calculated according to the following formula:

For the consultation of the table, see image
The following basic indicators are used to calculate risk-based contributions:

For the consultation of the table, see image
The King defines intervals determining the score to be assigned to each risk indicator, depending on its value.
The following risk weighting factors are assigned to a member according to its composite score:

For the consultation of the table, see image
The National Bank of Belgium communicates annually to the Special Protection Fund, at its request, the scores of Belgian credit institutions referred to in Article 4, § 1er, 1° ; "
CHAPTER 4. - Final provision
Art. 9. This Act comes into force on 1er January 2012.
Promulgate this law, order that it be clothed with the seal of the State and published by the Belgian Monitor.
Given at Châteauneuf-de Grasse, December 28, 2011.
ALBERT
By the King:
Minister of Finance,
S. VANACKERE
Seal of the state seal:
The Minister of Justice,
Ms. A. TURTELBOOM
____
Note
(1) 2010-2011 session.
House of Representatives.
Documents. - Bill, 53-1954/001. - Amendments, 53-1954/002 and 003. - Opinion of the State Council, 53-1954/004. - Report, 53-1954/005. - Text adopted by the commission, 53-1954/006. - Text adopted in plenary and transmitted to the Senate, 53-1954/007.
Full report. - 22 December 2011.
Senate.
Documents. - Project transmitted by the House of Representatives, 5-1410 - No. 1. - Amendments, 5-1410 - No. 2. - Report, 5-1410 - No. 3. - Text adopted in plenary and subject to Royal Assent, 5-1410 - No. 4.
Annales. - 23 December 2011.