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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Posted the: 2011-12-30 Numac: 2011003450 SERVICE PUBLIC FÉDÉRAL FINANCES 28 December 2011. -Law establishing a contribution of financial stability and amending the royal decree of 14 November 2008 implementing the law of 15 October 2008 on measures promoting financial stability and establishing in particular an on the credits granted State guarantee and other operations carried out in the context of financial stability, in relation to the protection of deposits life insurance, and the capital of approved co-operative companies, and amending the law of 2 August 2002 on the supervision of the financial sector and financial services (1) ALBERT II, King of the Belgians, to all, present and to come, hi.
The Chambers have adopted and we endorse the following: Chapter 1. -Available general Article 1. This Act regulates a matter referred to in article 78 of the Constitution.
CHAPTER 2. -Establishment of a financial stability contribution art. 2. a fund named "Resolution Fund" is created within the Caisse des Dépôts et Consignations.
The resolution Fund is designed to ensure the financing of measures designed to reduce the impact of the failure of a credit institution on the financial system and the economic and social well-being of the Belgium.
It is mobilized by the King, by Decree deliberated in the Council of Ministers, after having obtained the opinion of the National Bank of Belgium.
Are required to join Belgian credit institutions referred to in title II of Act of 22 March 1993 on the status and control of credit institutions, with the exception of the electronic money institutions referred to in the title IIbis of law.
The King regulates the organisation and functioning of the Fund referred to in paragraph 1.
S.
3. the resolution Fund is funded by the annual contributions of its participants.
The amount of the annual contributions to the Fund by resolution is as follows: a contribution of 0.035% of outstanding, December 31 of the previous year, the total decreased liabilities (i) of the amount of deposits eligible for reimbursement from the special fund to protect deposits and the life insurance set up by article 3 of the royal decree of 14 November 2008 implementing the law of 15 October 2008 on measures to promote the financial stability and in particular establishing a State guarantee for the credits granted and other operations carried out in the context of financial stability, in relation to the protection of deposits and life insurance, and amending the law of 2 August 2002 on the supervision of the financial sector and financial services, and (ii) the amount of the regulatory own funds.
The King fixed the payment of these contributions.
The resolution Fund provides annual contributions referred to in the preceding paragraphs to the Treasury.
S. 4. excluding cases where they are called to testify in court or before a parliamentary inquiry, the officers of the Caisse des Dépôts et consignations responsible for the management of the Fund by resolution and any person called to collaborate in the management or control of the management of the Fund by resolution shall not disclose to any person or authority whatsoever confidential information they hold due to their functions for the operation
resolution Fund.
Exception is made to the prohibition in paragraph 1 for the communication of information to the authority in charge of prudential supervision in the context of the necessary collaboration with this organization.
Violations of this article are punished penalties provided for in article 458 of the penal Code.
The provisions of book I of the penal Code, without exception of Chapter VII and article 85, shall apply to offences under this section.
S. 5 the King can amend or repeal all or part of the royal decree No. 150 of 18 March 1935 coordinating laws relating to the Organization and the functioning of the Caisse des Dépôts et Consignations and with Amendments Act of July 31, 1934, in order to ensure its consistency with this chapter.
S. 6. in its annual report, the Caisse des Dépôts et consignations gives a general overview of the resolution Fund.
S. 7 the Bank national of Belgium shall communicate each year to fund resolution, at its request, the amount of the base as defined in article 3 for each subject.
CHAPTER 3. -Amendments to the royal decree of 14 November 2008 implementing the law of 15 October 2008 on measures promoting financial stability and establishing in particular an on the credits granted State guarantee and other operations carried out in the context of financial stability, in relation to the protection of deposits and life insurance , and capital of approved cooperative societies, and amending the law of 2 August 2002 on the supervision of the financial sector and financial services s. 8 in article 8 of the royal decree of 14 November 2008 implementing the law of 15 October 2008 on measures promoting financial stability and establishing in particular an on the credits granted State guarantee and other operations carried out in the context of financial stability, in relation to the protection of deposits and life insurance , and amending the law of 2 August 2002 on the supervision of the financial sector and financial services, as amended by the programme act of December 23, 2009, the following amendments are made: 1 ° the § 1, 1 °, is replaced as follows: '1 ° a contribution of 0.10% of the amount outstanding at 31 December of the previous year, reimbursement, for institutions eligible deposits referred to in article 4 , § 1, 2 ° and 3 °, except investment firms that have the status of company management and portfolio investment, and consulting for branches of credit institutions are not related to another European economic area Member State referred to in article 4, § 1, 1 °. For the contribution due in 2012, the percentage of contribution amounts to 0.245%. For the contribution due in 2013, the percentage of contribution amounts to 0.15%. »;
2 ° to the § 1, inserted a 1 ° bis worded as follows: ' 1 ° bis of Belgian credit institutions referred to in article 4, § 1, 1 °, the contribution is calculated by the following formula: for consultation table, see image the following basic indicators are used for the calculation of risk-based contributions: for the consultation of the table. see image the King sets intervals determining the score to assign to each indicator of risk, depending on its value.
The weights of the following risks are allocated to a member based on its composite score: for consultation table, see image the National Bank of Belgium shall communicate each year to the special protection fund, at its request, the scores of Belgian credit institutions referred to in article 4, § 1, 1 °; ».
CHAPTER 4. -Disposition final art. 9. this Act comes into force on January 1, 2012.
Promulgate this Act, order that it be under the seal of the State and published by le Moniteur.
Given to Chateauneuf - Grasse, December 28, 2011.
ALBERT by the King: the Minister of finance, S. VANACKERE sealed with the seal of the State: the Minister of Justice, Ms. A. TURTELBOOM _ Note (1) Session 2010-2011.
House of representatives.
Documents.
-Bill, 53-1954/001. -Amendments, 53-1954/002 and 003. -Notice of the State Council, 53-1954/004.
-Report, 53-1954/005. -Text adopted by the commission, 53-1954/006. -Text adopted in plenary meeting and transmitted to the Senate, 53-1954/007.
Compte rendu intégral. -22 December 2011.
Senate.
Documents.
-Draft transmitted by the House of representatives, 5-1410 - No. 1. -Amendments 5-1410 - No. 2. -Report 5-1410 - No. 3. -Text adopted at the plenary and subject to Royal assent, 5-1410 - No. 4.
Annals. -December 23, 2011.