On Jul. 3, BEL CB informed of reciprocity on 4% rate for mortgages.
BEL CB informed of a 4 % sectoral systemic risk buffer rate on all IRB retail exposures to natural persons secured by residential real estate collateral, located in Portugal.
Follows EU ESRB May 2024 issued Rec ESRB/2023/13 re POR measures, see #113018.
Main Points
This measure of reciprocity includes both non-defaulted and defaulted exposures.
It must be applied by Belgian credit institutions under art 133 of CRD, on the highest level of consolidation, with application of a materiality threshold of €1 bn.
Effectiveness
The measure will be applied from Oct. 1, 2024, in accordance with art 1, § 3 of the BEL CB regulation of Feb. 24, 2016 approved by the Royal Decree of May 20, 2016.
Regulators
BEL CB
Entity Types
Bank; MG Orig
Reference
PR, 7/3/2024; CRD/CRR Dir 2013/36, Reg 575/2013; sSyRB
