Financial Crisis and Regulation - An Overview of the Belgian Experience
Financial Market Regulation in the Wake of Financial Crises: The Historical Experience Conference, p. 95, 2009
23 Pages Posted: 8 Jul 2012
Date Written: April 16, 2009
This paper provides an overview of the regulation and supervision of the Belgian financial system from the creation of Belgium in 1830 to the early 21st century. After severe crises, the National Bank of Belgium was created in 1850. The Great Depression led to further reforms, increasing the role of the government, especially through the establishment of the Banking Commission. In the post-war period, reforms were driven by changes in the financial landscape, especially an increasing role for market forces. In line with the despecialisation process, the responsibilities of the Banking Commission were gradually extended, becoming, in 2004, the Banking, Finance and Insurance Commission. Moreover, at the turn of the millennium, the role of the NBB in financial stability matters was enhanced.
JEL Classification: G18, N23, N44
Suggested Citation: Suggested Citation