Examples of Belgian Banking Law in a sentence
Certain portions of CRD have been transposed into Belgian law through the Belgian Banking Law and, although CRR applies directly in each Member State, CRR leaves a number of important interpretational issues to be resolved through binding technical standards, and leaves certain other matters to the discretion of national regulators.
Whilst the Belgian Banking Law contains powers to allow the government to conform the Belgian Banking Law to developments at a European level in certain areas through a royal decree, it cannot be ruled out that there will be differences between the regulatory regime promulgated by the relevant European directives and the regulatory regime of the Belgian Banking Law.
Payment for the Underdeck Lighting bid items is full compensation for grounding; for junction boxes; for luminaire mounting boxes as required; for conduit, condulets, and junction box fusing; and for hardware and fittings.
The Belgian Banking Law entered, subject to certain exceptions (including in respect of its resolution regime), into force on 7 May 2014.Belfius Bank’s business and earnings are also affected by fiscal and other policies that are adopted by the various regulatory authorities of the European Union, foreign governments and international agencies.
Under the Belgian Banking Law, substantial powers have been granted to the Relevant Resolution Authority.
BRRD, which was adopted in May 2014 and implemented in the Belgian Banking Law, provides common tools and powers to supervisory and resolution authorities to address banking crises pre-emptively in order to safeguard financial stability and minimise taxpayers’ exposure to losses.
In order to make the bail-in tool effective, the BRRD and the Belgian Banking Law also provide that credit institutions (including the Issuer) will at all times have to meet MREL (as defined above, “The Issuer may elect not to pay interest on the Securities or in certain circumstances be required not to pay such interest”) so that there is sufficient capital and liabilities available to stabilise and recapitalise failing credit institutions.
Any failure to comply may have a material adverse effect on the Group’s business and results of operation.As these are new rules and there are still a number of important implementation rules that need to be adopted under CRD IV, BRRD and the Belgian Banking Law, uncertainty remains about the potential effect thereof on the business and operations of the Group and how the authorities may choose to exercise the powers afforded to them under such rules.
The new Belgian Banking Law also grants the power to a resolution authority to take a number of resolution measures, including (i) a forced sale of the credit institution, (ii) the establishment of a bridge bank or (iii) the forced transfer of all or part of the assets, rights or obligations of the credit institution.
The Issuer is licensed as a credit institution in accordance with the Belgian Banking Law.