
COVID-19 RESOURCE CENTER: LATEST UPDATES
19/02/2021 |
State aid and Support Measures |
16/02/2021 |
State aid and Support Measures |
12/02/2021 |
State aid and Support Measures |
Employment |
COVID-19: RECHT OP BETAALD VACCINATIEVERLOF VOOR WERKNEMERS |
De ministerraad keurt op voorstel van minister van Werk Pierre-Yves Dermagne een voorontwerp van wet goed over de toekenning van een recht op klein verlet voor werknemers met het oog op het toegediend krijgen van een vaccin ter bescherming tegen het coronavirus. Concreet krijgt elke werknemer verbonden met een werkgever door een arbeidsovereenkomst het recht om van het werk afwezig te zijn, met behoud van loon, teneinde zich te laten vaccineren. Om gerechtigd te zijn op het loon moet de werknemer de werkgever vooraf verwittigen en een bewijs van vaccinatie kunnen voorleggen. |
Tax and Social Security |
11/02/2021 |
State aid and Support Measures |
5/02/2021 |
State aid and Support Measures |
2/02/2021 |
Consumer Law and Trade Practices |
29/01/2021 |
Employment |
Flitscontroles telewerk verlengd tot eind februari 2021 |
Op 5 januari startten de sociale-inspectiediensten een controleactie voor het verplicht telewerk in de tertiaire sector. Het gaat om een gemeenschappelijke actie die uitgaat van de Sociale Inlichtingen- en Opsporingsdienst (SIOD) waaraan de RVA deelneemt. Het Strategisch Comité van de SIOD, waaronder de drie voogdijministers, bevoegd voor sociale fraudebestrijding, hebben beslist om de flitscontroles voor het verplicht telewerken in de tertiaire sector te verlengen met 1 maand. |
Banking & Finance |
EBA provides additional clarity on the implementation of selected COVID-19 policies |
The European Banking Authority (EBA) published today additional clarifications on the application of the prudential framework in response to issues raised as a consequence of the COVID-19 pandemic. These clarifications update the FAQ section of the EBA Report on COVID-19 implementation policies, which provides clarity on the implementation of (i) the EBA Guidelines on moratoria and (ii) the EBA Guidelines on COVID-19 reporting and disclosure. This Report is part of the EBA’s wider monitoring of the implementation of COVID-19 policies as well as of the application of existing policies under these exceptional circumstances. |
27/01/2021 |
State aid and Support Measures |
Betalingsuitstel voor consumentenkrediet opnieuw mogelijk in 2021 |
Consumenten die blijvend financiële moeilijkheden ondervinden door de gevolgen van de aanhoudende coronacrisis, kunnen opnieuw tijdelijk betalingsuitstel krijgen van hun consumentenkrediet(en). Voor het hypothecair krediet bestond al enkele weken een dergelijke regeling.
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26/01/2021 |
Corporate |
La présente circulaire expose les attentes de la Banque nationale de Belgique (ci-après « la Banque ») quant aux distributions de dividendes et à la rémunération variable par les entreprises et groupes d’assurance/de réassurance belges dans le cadre de la pandémie de COVID-19. La circulaire NBB_2020_034 du 25 août 2020 est retirée et remplacée par la présente circulaire.
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25/01/2021 |
State aid and Support Measures |
Premie voor de compensatie van RSZ-bijdragen van het 3de kwartaal 2020 - toeleveranciers update 25/01/2021 - coronamaatregel |
Om de financiële gevolgen van de coronacrisis te verlichten, heeft de regering nieuwe maatregelen genomen om de werkgevers van bepaalde zwaar getroffen sectoren te ondersteunen. Zo werd een compensatieregeling uitgewerkt voor toeleveranciers van ondernemingen die op basis van de ministeriële besluiten van 28 oktober 2020 en 1 november 2020 verplicht moesten sluiten. Deze regeling voorziet in een compensatie die gelijk is aan de verschuldigde netto patronale basisbijdragen en de patronale solidariteitsbijdrage voor studenten voor hetzij het 1ste kwartaal 2020, hetzij het 3de kwartaal 2020, waarbij het meest gunstige bedrag van de twee wordt toegekend.
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22/01/2021 |
Tax and Social Security |
FAQ over de gevolgen van de coronacrisis op de aanvullende pensioenen |
In het kader van de Coronacrisis heeft de overheid enkele bijzondere maatregelen voor de aanvullende pensioenen uitgewerkt. Deze maatregelen worden verlengd tot 31 maart 2021
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20/01/2021 |
State aid and Support Measures |
EIB Press Conference on Annual Results - EIB Group increases financing to €77 billion in 2020, combating the COVID-19 pandemic and the climate crisis |
Reflecting the additional need for assistance caused by the COVID-19 pandemic, EIB Group support for small and medium-sized companies grew by €5 billion to €30.6 billion. In total, more than 425 000 companies profited from financing, sustaining more than 4.2 million jobs. The EU bank achieved this without neglecting its other investment priorities: environmental investment reached €16.8 billion, infrastructure projects were supported with €15 billion and €14.4 billion went to innovation projects.
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Tax and Social Security |
14/01/2021 |
Employment |
Pretracing buitenlandse arbeidskrachten - coronamaatregel |
Het ministerieel besluit van 12 januari 2021 (BS van 12 januari 2021) breidt het systeem van pretracing uit naar alle sectoren. In het kader van de strijd tegen de verspreiding van het coronavirus COVID-19, is nu elke werkgever of gebruiker die voor werkzaamheden in België tijdelijk beroep doet op een in het buitenland verblijvende of wonende werknemer of zelfstandige, verplicht een aantal gegevens in te zamelen en bij te houden. Een uitzondering hierop blijft de uitvoering voor natuurlijke personen van werkzaamheden voor strikt persoonlijke doeleinden (zoals bijvoorbeeld installatie of herstelling van een verkoelingssysteem in de private woning). |
12/01/2021 |
Employment |
Tijdelijke werkloosheid overmacht voor werknemers als hun kind door de coronamaatregelen niet naar het kinderdagverblijf, de school of een centrum voor opvang van personen met een handicap kan gaan |
Het corona-ouderschapsverlof is afgelopen op 30 september 2020. Van 1 oktober 2020 tot en met 31 maart 2021 hebben werknemers het recht om afwezig te zijn op het werk om te zorgen voor een kind dat door de coronamaatregelen niet naar het kinderdagverblijf, de school of naar een centrum voor opvang van personen met een handicap kan gaan. Wettelijke basis: de wet van 23 oktober 2020 tot het openstellen van tijdelijke werkloosheid overmacht corona voor werknemers in de gevallen waarin het onmogelijk is voor hun kind om naar het kinderdagverblijf, de school, of het centrum voor opvang van personen met een handicap te gaan. |
7/01/2021 |
Tax and Social Security |
23/12/2020 |
Employment |
CONTROLE OP TELEWERK IN DE TERTIAIRE SECTOR IN JANUARI 2021 |
De sociale-inspectiediensten voeren in januari 2021 een nationale flitscontrole uit rond het verplicht telethuiswerk in de tertiaire sector (dienstverlening).
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22/12/2020 |
Banking & Finance |
22/12/2020 Circulaire NBB_2020_051 / EBA richtsnoeren inzake wettelijk vastgestelde en niet wettelijk vastgestelde moratoria voor betalingsverplichtingen op leningen die worden toegepast in het licht van de COVID-19-crisis (geconsolideerde versie van 2 december 2020 van de EBA richtsnoeren EBA/GL/2020/02 die de wijzigingen resulterend uit de EBA richtsnoeren EBA/GL/2020/08 en EBA/GL/2020/15 integreert) |
Deze circulaire vervangt circulaire NBB_2020_31 en integreert de geconsolideerde versie van 2 december 2020 van de EBA richtsnoeren EBA/GL/2020/021 in de toezichtspraktijk van de Bank. Gelet op de diverse vormen van moratoria die naar aanleiding van de COVID-19 crisis werden ingevoerd in verschillende rechtsgebieden was verduidelijking en harmonisatie wenselijk en publiceerde de Europese Bankautoriteit “richtsnoeren over wettelijk vastgestelde en niet wettelijk vastgestelde moratoria voor betalingsverplichtingen op leningen die worden toegepast in het licht van de COVID-19-crisis” (EBA/GL/2020/02). Deze richtsnoeren beogen de prudentiële gevolgen van moratoria te verduidelijken en dit specifiek met betrekking tot de toepassing van de definitie van wanbetaling en de classificatie van respijtverlening voor blootstellingen die onder een moratorium vallen. Als gevolg van de sterke toename van het aantal besmettingen met het coronavirus werden er in verschillende lidstaten opnieuw verstrengde maatregelen opgelegd en worden bijkomende steunmaatregelen toegekend of bestaande maatregelen verlengd om getroffen bedrijven en particulieren bij te staan bij mogelijke tijdelijke liquiditeitsproblemen waarmee ze geconfronteerd kunnen worden door de hernieuwde lockdown-maatregelen.
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21/12/2020 |
Banking & Finance |
EBA provides additional clarity on the implementation of selected COVID-19 policies |
The European Banking Authority (EBA) published today additional clarifications on the application of the prudential framework in response to issues raised as a consequence of the COVID-19 pandemic. These clarifications update the FAQ section of the EBA Report on COVID-19 implementation policies published on 7 August. They mainly cover the EBA Guidelines on moratoria and COVID-19 reporting, operational risk, downturn LGD estimation and the credit risk mitigation framework. This Report is part of the EBA’s wider monitoring of the implementation of COVID-19 policies as well as of the application of existing policies under these exceptional circumstances.
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18/12/2020 |
Tax & Social Security |
Bijkomende premie voor langdurig tijdelijk werklozen - Tijdelijke werkloosheid door de coronacrisis COVID-19 |
Indien u in de periode van maart 2020 tot en met november 2020 in totaal minstens 53 uitkeringen als tijdelijk werkloze wegens overmacht of wegens economische redenen hebt ontvangen, hebt u recht op deze premie.
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17/12/2020 |
Financial services – Regulatory |
ESMA renews its decision requiring net short position holders to report positions of 0.1% and above |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market, to notify the relevant national competent authority (NCA) if the position reaches, exceeds or falls below 0.1% of the issued share capital. The measure applies from 19 December 2020 for a period of three months.
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State aid and Support Measures |
Banking & Finance |
De coronacrisis drukt haar stempel op het verloop van de kredietomloop |
De coronacrisis weegt sterk op de economische activiteit. Ondernemingen hebben dan ook minder nood aan kredieten om werkkapitaal en investeringen te financieren. In het derde trimester van 2020 werden opnieuw minder ondernemingskredieten aangevraagd dan in dezelfde periode van 2019. Die daling vertaalde zich ook in de productie van nieuwe kredieten. Het uitstaand volume aan ondernemingskredieten, daalde lichtjes in vergelijking met vorig kwartaal, maar lag eind september 2020 nog 3,6% hoger dan een jaar eerder en bereikte 168,6 miljard euro. Begin 2020 was er nog een uitgesproken positieve sprong in de jaarlijkse groei van de opgenomen ondernemingskredieten. Vanaf juni tot september 2020 komt de jaargroei beduidend lager te liggen. De financiële sector zet meer dan ooit in op de ondersteuning van de economie, dat blijkt onder meer uit de lage weigeringsgraad. De weigeringsgraad is slechts licht gestegen in vergelijking met de weigeringsgraad in de derde trimesters van de 2 vorige jaren en ligt nog steeds op een laag niveau. De banken blijven dus vrij vlot krediet verlenen niettegenstaande de moeilijke sanitaire en economische situatie die zeker een negatieve impact heeft op de kwaliteit van heel wat kredietaanvragen. |
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16/12/2020 |
Banking & Finance |
EBA welcomes European Commission’s action plan to tackle NPLs in the aftermath of the COVID-19 pandemic |
The European Banking Authority (EBA) welcomed today the European Commission’s comprehensive action plan to tackle the expected rise of non-performing loans (NPLs) on banks’ balance sheets following the outbreak of the COVID-19 pandemic. The action plan requests the EBA’s support to improve data quality and comparability, enhance transparency and market discipline under Pillar 3 rules, and address regulatory impediments to NPL purchases. The EBA is going to act swiftly to support these initiatives while continuing its wider regulatory and supervisory work on NPLs in the EU.
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State aid and Support Measures |
EIB Group backs € 12.5 billion COVID-19 support, business, clean energy transport and urban investment |
The European Investment Bank (EIB) Board of Directors today approved new financing totalling EUR 12.5 billion to support companies impacted by COVID-19, alongside accelerating renewable energy, sustainable transport and urban investment across Europe and around the world. This includes € 4.1 billion to strengthen public health and private sector resilience to the COVID-19 pandemic. New EIB financing will support medical and pharmaceutical innovation, including testing and treatment, hospital and public health investment and local business lending programmes to help companies in sectors most impacted by the pandemic. |
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15/12/2020 |
State aid and Support Measures |
Team Europe contributes €500 million to COVAX initiative to provide one billion COVID-19 vaccine doses for low and middle income countries |
Fair and equitable access to a successful COVID-19 vaccine, regardless of income, for millions of people across Africa, Asia, the Caribbean and Pacific, and in Europe's eastern and southern neighbourhood, has been enabled by €500 million of new European financial support for the global vaccine initiative COVAX. Team Europe's engagement will accelerate global efforts to bring the pandemic under control and scale up distribution of a successful vaccine as soon as it becomes available.
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14/12/2020 |
Banking & Finance |
De Belgische economie herstelt zich geleidelijk na de zware coronaklap maar het begrotingstekort blijft onhoudbaar hoog |
De economische bedrijvigheid in België krimpt dit jaar met 6,7 % als gevolg van de beperkende maatregelen die werden opgelegd om de verspreiding van de COVID-19-pandemie tegen te gaan. De achteruitgang is minder zwaar dan eerst gevreesd, maar toch nog ruim driemaal zo sterk als tijdens de mondiale financiële crisis van 2008-2009. Naarmate de beperkende maatregelen weer worden versoepeld en in de veronderstelling dat een effectieve medische oplossing, zoals een vaccin, kan worden gevonden en verspreid vanaf volgend jaar, volgt de komende twee jaren een geleidelijk herstel met meer dan 3%, in belangrijke mate gedreven door de gezinsconsumptie. Het herstel van de bedrijfsinvesteringen vraagt daarentegen wat meer tijd en de netto-uitvoer blijft gedurende de hele projectieperiode op de groei wegen. De coronacrisis heeft ook een weerslag op de arbeidsmarkt: er gaan zowat 100 000 arbeidsplaatsen verloren tegen de herfst van 2021. Het begrotingstekort zwelt aan tot meer dan 10 % bbp in 2020. Belangrijker is dat het ook nadien structureel hoog blijft en meer dan het dubbele bedraagt van het peil dat zonder de crisis zou zijn bereikt.
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11/12/2020 |
State aid and Support Measures |
10/12/2020 |
Employment |
Minister De Sutter maakt het mogelijk voor ambtenaren om vrijwilligerswerk uit te voeren in sectoren die lijden onder de COVID-pandemie |
Door de coronacrisis zijn er ook een aantal ambtenaren tijdelijk werkloos geworden, anderen hebben geen volledig gevuld uurrooster meer en zijn gedeeltelijk werkloos. Als ambtenaren zich geroepen voelen om mee te gaan helpen als vrijwilliger in sectoren die zwaar getroffen worden door de pandemie, dan kunnen ze - in overleg met hun diensthoofd -, aanspraak maken op dienstvrijstelling. Dat kan gaan van enkele uren tot een volledig werkweek en dit tot eind maart. Als de COVID-crisis blijft aanslepen, kan die datum verlengd worden.
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Banking & Finance |
ECB prolongs support via targeted lending operations for banks that lend to the real economy |
The Governing Council of the European Central Bank (ECB) today decided on modifications to the terms and conditions of the third series of targeted longer-term refinancing operations (TLTRO III). The extension of the pandemic-related low interest rate period, the addition of three more operations and the increase in the amount that can potentially be borrowed under TLTRO III will preserve the very attractive funding conditions that over the past few months have supported banks’ efforts to keep credit flowing to the real economy in a time of high stress. This will help banks to secure the liquidity they need to extend loans to households and firms on very favourable lending terms. |
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9/12/2020 |
Banking & Finance |
Ook in 2021 kunnen gezinnen en bedrijven bij banken terecht voor betalingsuitstel |
In maart 2020 kondigde de financiële sector een eerste reeks steunmaatregelen aan om gezinnen en bedrijven door de moeilijke periode van de coronacrisis heen te loodsen. Gezinnen en bedrijven konden voor maximaal 6 maanden betalingsuitstel aanvragen, nadien verlengd tot maximaal 9 maanden (met uiterlijke datum 31 december 2020). De sector heeft beslist om ook in 2021 haar engagement verder te zetten en maximale ondersteuning te bieden. |
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3/12/2020 |
State aid and Support Measures |
1/12/2020 |
State aid and Support Measures |
Team Europe COVID-19 response: EU announces €20 million to support health systems in ASEAN |
As part of Team Europe's global response to the coronavirus pandemic, the European Union announced today a new €20 million programme to support the preparedness and response capacities of our partners in the Association of Southeast Asian Nations (ASEAN).
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Banking & Finance |
EIB Investment Survey – Businesses are intending to reduce investment due to the pandemic |
The European Investment Bank (EIB) has launched the fifth edition of its EIB Investment Survey. The first findings of the survey show a widening investment gap throughout Europe, which can be linked to the stretch in government budgets due to the pandemic and the economic crisis. These investment gaps threaten to undermine the European Union’s ambitious plans for a green and digital transformation. |
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30/11/2020 |
State aid and Support Measures |
Covid-19: tijdelijke steunmaatregelen – Tweede lezing |
De ministerraad keurt op voorstel van eerste minister Alexander De Croo in tweede lezing een voorontwerp van wet goed houdende tijdelijke ondersteuningsmaatregelen wegens de Covid 19 pandemie.
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Banking & Finance |
The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, has today endorsed a coordinated approach to mitigating Covid-19 risks to the global banking system. |
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Tax & Social Security |
27/11/2020 |
Tax & Social Security |
Tijdelijke werkloosheid overmacht corona - kunstenaars en tijdelijke medewerkers evenementen – update 27 november 2020 |
De minister van Werk heeft op 3 november 2020 de beslissing genomen om het openstellen van het stelsel van tijdelijke werkloosheid wegens overmacht voor artiesten en andere occasionele werknemers, te verlengen. Het betreft tewerkstellingen in het kader van festivals en andere evenementen, die geannuleerd werden als gevolg van de corona maatregelen genomen door de overheid. Het is mogelijk om tijdelijke werkloosheid wegens overmacht corona 'evenementen' aan te vragen wanneer men een belofte kan aantonen op een arbeidsovereenkomst (die dateert van ten laatste 31 oktober 2020) voor een evenement dat had moeten plaatsvinden tussen 14 maart 2020 en 31 maart 2021. De juiste procedures die moeten gevolgd worden en meer details kan u terug vinden in de FAQ- lijst tijdelijke werkloosheid corona. De laatste versie die momenteel gepubliceerd is op de website van de RVA , is deze van 25 november 2020. |
Employment |
Aangifte van tijdelijke werkloosheid wegens overmacht - terugkeer vereenvoudigde procedure - update 27 november 2020 |
De federale regering heeft op 6 november 2020 beslist om de vereenvoudigde procedure voor tijdelijke werkloosheid van 1 oktober 2020 tot en met 31 maart 2021 opnieuw in te voeren voor alle werkgevers en werknemers. Vanaf 1 september 2020 was de prestatiecode 77 enkel nog maar geldig voor werknemers tewerkgesteld in een onderneming die 'uitzonderlijk hard getroffen was' of actief in een sector die 'uitzonderlijk hard getroffen was'. Door de nieuwe uitbreiding van de vereenvoudigde procedure tijdelijke werkloosheid overmacht corona, zal vanaf 1 oktober 2020 opnieuw geen onderscheid meer gemaakt worden tussen het al dan niet zwaar getroffen zijn van de werkgever en is de prestatiecode 77 opnieuw algemeen toepasbaar. Meer details zijn terug te vinden op de website van de RVA, 'Tijdelijke werkloosheid door de coronacrisis Covid-19 – Terugkeer naar de vereenvoudigde procedure vanaf 01.10.2020 '. |
State aid and Support Measures |
25/11/2020 |
Employment |
Ministerieel besluit betreffende de veiligheidsvoorschriften in de dienstencheque-sector om de verspreiding van het coronavirus te beperken | ||
Uitbreiding studentenarbeid 4-2020 en 1-2021 in sommige sectoren - update 25 november 2020 - coronamaatregel |
De wet inzake verschillende sociale maatregelen ingevolge de COVID-19-pandemie van 4 november 2020, is op 13 november 2020 in het Belgisch Staatsblad verschenen. Daarin staat de maatregel opgenomen die het mogelijk maakt jobstudenten in te zetten om de door de coronacrisis verhoogde werkdruk in bepaalde sectoren tegen te gaan, door de uren die een student presteert in de zorgsector of in het onderwijs, tijdens het 4de kwartaal 2020 en het 1ste kwartaal 2021 niet mee te laten tellen voor het contingent van 475 uren per jaar (dus voor respectievelijk 2020 en 2021). Het in de mededeling van 5 november 2020 opgenomen toepassingsgebied voor de openbare zorginstellingen werd in laatste instantie voor de stemming nog gewijzigd en verschilt dus met dat van de gepubliceerde wetgeving.
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24/11/2020 |
State aid and Support Measures |
Wet met het oog op steunmaatregelen in het kader van de COVID-19-pandemie (1) / Loi visant des mesures de soutien dans le cadre de la pandemie de COVID-19 (1) |
23/11/2020 |
Regulatory - Environment |
Employment |
State aid and Support Measures |
20/11/2020 |
Banking & Finance |
Banks report a significant use of COVID-19 moratoria and public guarantees |
The European Banking Authority (EBA) published today a first assessment of the use of COVID-19 moratoria and public guarantees across the EU banking sector. COVID-19 related moratoria on loan repayments provided breathing space to borrowers across many countries with many banks reporting that loans under moratoria represented a significant share of their total loans. The use of moratoria was particularly widespread for SMEs and commercial real estate but were also important for mortgage loans in some countries. While public guarantees were used to a lesser extent, they allowed banks to provide new lending to many companies impacted by the crisis. The EBA will be closely monitoring the evolution of moratoria and public guarantee schemes (PGSs) in the following quarters.
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19/11/2020 |
Regulatory - Environment |
Décret modifiant l'article 5 du décret du 29 octobre 2020 octroyant des pouvoirs spéciaux au Gouvernement wallon en vue de faire face à la deuxième vague de la crise sanitaire de la COVID-19 pour les matières réglées par l'article 138 de la Constitution (1) / Decreet tot wijziging van artikel 5 van het decreet van 29 oktober 2020 tot toekenning van bijzondere machten aan de Waalse Regering om te reageren op de tweede golf van de gezondheidscrisis COVID-19 voor de aangelegenheden geregeld bij artikel 138 van de Grondwet (1) |
18/11/2020 |
State aid and Support Measures |
COVID-19: Presidency and Parliament reach political agreement on REACT-EU |
The EU is making additional financial resources available to the member states to strengthen cohesion and boost the economic recovery from the COVID-19 pandemic. The German Presidency of the Council and the European Parliament today reached a political agreement on REACT-EU, an emergency legislative initiative to release €47.5 billion through the structural funds to the hardest hit member states and regions. This additional funding will come from the European Recovery Instrument. |
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16/11/2020 |
State aid and Support Measures |
Sanctions: Commission further expands Guidance on COVID-19-related humanitarian aid in sanctioned environments | The European Commission further expanded its Guidance Note on how COVID-19-related humanitarian aid can be provided to countries and areas around the world that are subject to EU restrictive measures (sanctions). This Guidance now also has a self-standing chapter on Nicaragua. | |
Towards a more dynamic, resilient and competitive European industry: Council adopts conclusions |
The Council today adopted a set of conclusions setting out how recovery from the COVID-19 crisis can be used as leverage for a more dynamic, resilient and competitive European industry. In these conclusions, the Council stresses the need for European solidarity to master a swift, sustainable and inclusive economic recovery and a long-term sustainable future of the EU industry impacted by the COVID-19 pandemic. |
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12/11/2020 |
State aid and Support Measures |
10/11/2020 |
Employment |
Dimona en C3.2A kaarten voor de bouwsector - coronamaatregel update |
In gewone omstandigheden is het verplicht om bij Dimona-aangiften voor de bouwsector C3.2A-kaartnummers (in het kader van tijdelijke werkloosheid) in te voeren voor de eerste twee maanden van tewerkstelling. Deze kaarten worden afgeleverd door het Fonds voor de Bouwsector (Constructiv) of door de RVA wanneer de werkgever geen niet-nominatieve kaarten meer ter beschikking heeft. In het kader van de Coronacrisis werd bij de RVA een tijdelijke vereenvoudigde procedure ingevoerd, waarbij het niet langer nodig was om deze kaarten af te leveren. Aan deze vereenvoudigde procedure kwam op 31 augustus 2020 een einde.
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6/11/2020 |
Tax & Social Security |
COVID-19: verlenging van de uitzonderlijke maatregelen inzake pensioenen |
De ministerraad gaat op voorstel van minister van Pensioenen Karine Lalieux akkoord met een ontwerp van koninklijk besluit tot verlenging van de maatregelen voorzien in de wet van 7 mei 2020 houdende uitzonderlijke maatregelen in het kader van de COVID-19-pandemie inzake pensioenen, aanvullende pensioenen en andere aanvullende voordelen inzake sociale zekerheid.
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Regulatory - Environment |
4/11/2020 |
Employment |
Uitbreiding studentenarbeid 4-2020 en 1-2021 in sommige sectoren - coronamaatregel |
Om het mogelijk te maken jobstudenten in te zetten om de door de coronacrisis verhoogde werkdruk in bepaalde sectoren tegen te gaan, werd beslist om de uren die een student presteert in de zorgsector of in het onderwijs, tijdens het 4de kwartaal 2020 en het 1ste kwartaal 2021 niet mee te laten tellen voor het contingent van 475 uren per jaar (dus voor respectievelijk 2020 en 2021).
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Tax & Social Security |
3/11/2020 |
Regulatory - Environment |
State aid and Support Measures |
België maakt draft budgetary plan over aan Europese Commissie |
België heeft eind vorige week haar definitief ontwerpbegrotingsplan overgemaakt aan de Europese Commissie. Op vraag van het Parlement heeft de staatssecretaris voor Begroting het plan vandaag ook ter beschikking gesteld van de Kamer van Volksvertegenwoordigers. Uit het ontwerpbegrotingsplan blijkt nog maar eens de belangrijke inspanningen die geleverd worden om iedereen die getroffen is door COVID-19 – medisch en economisch – zoveel mogelijk te ondersteunen. |
Employment |
Belangrijke mededeling betreffende de tijdelijke werkloosheid wegens overmacht vanaf november 2020 |
Door de beslissing tot gedeeltelijke lockdown zullen een aanzienlijk aantal werknemers vanaf november 2020 opnieuw een beroep op tijdelijke werkloosheid wegens overmacht moeten doen. |
Banking & Finance |
Basel Committee reports to G20 Leaders on Basel III implementation |
The Basel Committee on Banking Supervision has today published a report for the G20 Leaders at their Summit in Riyadh on 21-22 November. The report is an update on the implementation of Basel III regulatory reforms and the Basel Framework-related measures taken by Basel Committee members in response to Covid-19. |
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2/11/2020 |
Employment |
Covid - Employers must provide employees who can not telework with a document confirming the necessity of their presence on the workplace. |
As of Monday 2 November, telework is mandatory for all employees, except when it is impossible due to the nature of the function or the continuity of the service or activities. |
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1/11/2020 |
Regulatory - Environment |
30/10/2020 |
Banking & Finance |
Wet tot opening van voorlopige kredieten voor de maanden november en december 2020 (1) / Loi ouvrant des crédits provisoires pour les mois de novembre et décembre 2020 (1) | ||
29/10/2020 |
Tax & Social Security |
Employment |
Aangifte van tijdelijke werkloosheid wegens overmacht - quarantaineattest en kinderopvang – coronamaatregel |
Werknemers die niet ziek zijn, maar in quarantaine wordt geplaatst, kunnen tijdelijk werkloos worden gesteld wegens overmacht. Hetzelfde geldt voor de werknemer die een probleem heeft met kinderopvang omdat (een deel van) de school of het opvangcentrum van zijn kind gesloten wordt. |
Banking & Finance |
In the current environment of risks clearly tilted to the downside, the Governing Council will carefully assess the incoming information, including the dynamics of the pandemic, prospects for a rollout of vaccines and developments in the exchange rate. The new round of Eurosystem staff macroeconomic projections in December will allow a thorough reassessment of the economic outlook and the balance of risks. On the basis of this updated assessment, the Governing Council will recalibrate its instruments, as appropriate, to respond to the unfolding situation and to ensure that financing conditions remain favourable to support the economic recovery and counteract the negative impact of the pandemic on the projected inflation path. This will foster the convergence of inflation towards its aim in a sustained manner, in line with its commitment to symmetry. |
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28/10/2020 |
State aid and Support Measures |
Coronavirus resurgence: Commission steps up action to reinforce preparedness and response measures across the EU |
Today, the European Commission is launching an additional set of actions to help limit the spread of the coronavirus, save lives and strengthen the internal market's resilience. Concretely, the measures aim to better understand the virus' spread and the effectiveness of the response, ramp up well-targeted testing, bolster contact tracing, improve preparations for vaccination campaigns, and maintain access to essential supplies such as vaccination equipment, while keeping all goods moving in the single market and facilitating safe travel. This comes ahead of the European Leaders' virtual meeting on 29 October on COVID-19 coordination, following the 15 October European Council. Even though Member States are better prepared and more coordinated than in the early months of the pandemic, citizens, families and communities across Europe continue to face an unprecedented risk to their health and well-being.
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Banking & Finance |
European accounting enforcers to enhance transparency on COVID-19 impact |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued its annual Public Statement on European Common Enforcement Priorities (Statement), which sets out the priorities that EEA corporate reporting enforcers will consider when examining listed companies’ 2020 annual financial reports. |
Employment |
Verlenging van de herfstvakantie van de scholen – mogelijkheid voor het invoeren van tijdelijke werkloosheid overmacht voor de opvang van een kind |
Voor de periode van 1 oktober 2020 tot en met 31 december 2020 kunnen werknemers die verlof zouden moeten nemen om een kind op te vangen ten gevolge van de sluiting van de school een beroep doen op het stelsel van tijdelijke werkloosheid wegens overmacht De reden waarom het kind niet naar de school kan gaan, moet te wijten zijn aan ‘de tijdelijke sluiting als gevolg van een maatregel om de verspreiding van het coronavirus te beperken’. |
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27/10/2020 |
Banking & Finance |
October 2020 euro area bank lending survey |
In the fourth quarter of 2020, banks expect that net demand for loans to firms will rebound. Demand for housing loans is expected to fall, while demand for consumer credit is expected by banks to increase in the fourth quarter of 2020.
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26/10/2020 |
Regulatory - Environment |
State aid and Support Measures |
Zelfs nog vóór de volledige negatieve impact van de recentste beperkende maatregelen bleef het herstel van de Belgische economie slabakken | De Belgische ondernemingen ramen dat hun omzet deze week 14 % lager is ten gevolge van de coronacrisis, zijnde hetzelfde niveau als in de enquêtes van augustus en september. Dat betekent dat het herstel sinds augustus is stilgevallen. De tijdelijke sluiting van cafés en restaurants heeft geleid tot een forse verslechtering van de bedrijfsomzet in de horeca en ook de niet-voedingswinkels hebben hun omzet in oktober zien verslechteren in het verlengde van de sinds eind augustus opgetekende neerwaartse tendens. Dit blijkt uit de nieuwe enquête van de ERMG bij de Belgische ondernemingen. De vooruitzichten van de bevraagde ondernemingen blijven overigens somber, aangezien ze ervan uitgaan dat de omzet in het vierde kwartaal op het huidige niveau zal blijven en volgend jaar nog steeds 11 % lager zal liggen dan normaal. Tot slot is er een sterke stijging van het aantal werknemers die afwezig zijn door ziekte, vooral in de sectoren waar thuiswerk minder mogelijk is. Er moet worden opgemerkt dat deze enquête werd uitgevoerd net na de inwerkingtreding van de recente federale maatregelen voor cafés, restaurants en thuiswerk en net vóór de nog recenter genomen bijkomende maatregelen voor de recreatiesector en voor het Waals Gewest en het Brussels Hoofdstedelijk Gewest. De negatieve impact van deze maatregelen wordt dus zeker nog niet volledig in deze resultaten weerspiegeld. | |
Arrêté du Gouvernement de la Région de Bruxelles-Capitale relatif à une aide aux hôtels et appart-hôtels dans le cadre de la crise sanitaire du COVID-19 / Besluit van de Brusselse Hoofdstedelijke Regering betreffende steun aan hotels en aparthotels in het kader van de gezondheidscrisis COVID-19 | ||
23/10/2020 |
Employment |
19/10/2020 |
State aid and Support Measures |
UNDP and EIB expand partnership to support governments in tackling global crisis |
The European Investment Bank (EIB) and the United Nations Development Programme (UNDP) have signed a new partnership agreement to scale up their support to countries facing situations of emergency caused by epidemics, natural disasters, conflict and other types of fragility. This agreement will enable both institutions to reinforce the resilience of partner countries and contribute to achieve the Sustainable Development Goals (SDGs). The immediate focus will be to address setbacks, mainly caused by the COVID-19 crisis, in Eastern and Southern neighborhood, Central Asia and Africa.
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16/10/2020 |
Banking & Finance |
Cijfers ICB sector 2de trimester 2020 |
De Belgische fondsenmarkt herstelde merkbaar tijdens het tweede kwartaal van 2020 en recupereerde een aanzienlijk deel van de koersverliezen die optraden tijdens het eerste kwartaal van 2020 ten gevolge van de Covid-19 pandemie. Daarenboven behielden de beleggers het vertrouwen in de Belgische fondsenmarkt. |
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The FCA has published proposals on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of coronavirus (Covid-19), after 31 October 2020. | ||
15/10/2020 |
Regulatory - Environment |
Coronavirus: Commission lists key steps for effective vaccination strategies and vaccines deployment |
As Europe learns to live with the pandemic, the development and swift global deployment of safe and effective vaccines against COVID-19 remains an essential element in the eventual solution to the public health crisis. In this context, the Commission is working to ensure that there will be access to safe vaccines across Europe, and encourages a coordinated approach of vaccination strategies for deployment of the vaccines. Today, ahead of the discussion of EU Leaders, the Commission is presenting the key elements to be taken into consideration by Member States for their COVID-19 vaccination strategies in order to prepare the European Union and its citizens for when a safe and effective vaccine is available, as well as priority groups to consider for vaccination first.
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State aid and Support Measures |
14/10/2020 |
Banking & Finance |
FSB CHAIR’S LETTER TO G20 FINANCE MINISTERS AND CENTRAL BANK GOVERNORS: OCTOBER 2020 |
The letter notes the extraordinary challenges for the global financial system this year. The FSB will provide a comprehensive report on the financial stability implications of, and policy responses to, the COVID Event to the November G20 Summit, including a holistic review of the market turmoil in March. The holistic review will inform future steps of the FSB in 2021 under the Italian G20 Presidency to improve the resiliency of the NBFI sector while preserving its benefits.
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13/10/2020 |
Regulatory - Environment |
COVID-19: Raad neemt aanbeveling aan over coördinatie van beperkingen vrij verkeer |
De Raad heeft een aanbeveling aangenomen over een gecoördineerde aanpak van beperkingen van het vrije verkeer wegens de COVID-19-pandemie. De aanbeveling moet versnippering en verstoring voorkomen en burgers en bedrijven meer transparantie en voorspelbaarheid bieden
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State aid and Support Measures |
The EU Bank supports European regions and cities in their response to the Covid-19 crisis and for a green recovery. |
In response to the coronavirus pandemic, the EIB quickly deployed a support plan to support the European economy and help meet the most urgent financing needs of regions and municipalities. Recognizing the key role of cities and regions in mitigating the pandemic’s effects, the EIB approved exceptional measures to enable a faster approval and disbursement of new loans and allow more flexibility for the use and increase of ongoing loans. |
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12/10/2020 |
Employment |
Het corona-ouderschapsverlof liep af op 30 september 2020. Voor de periode van 1 oktober 2020 tot en met 31 december 2020 kunnen werknemers die verlof zouden moeten nemen om een kind op te vangen, ten gevolge van de sluiting van de kinderopvang, de school of een opvang voor gehandicapten wegens coronamaatregelen een beroep doen op het stelsel van tijdelijke werkloosheid wegens overmacht. |
State aid and Support Measures |
Regulatory - Environment |
9/10/2020 |
State aid and Support Measures |
Banking & Finance |
Mededeling betreffende de tijdelijke uitsluiting van bepaalde blootstellingen met betrekking tot centrale banken van de maatstaf van totale blootstelling voor de berekening van de hefboomratio en dit vanwege de COVID-19-pandemie. |
In het licht van de coronacrisis (COVID-19) bevat deze Mededeling een publieke verklaring vanwege de Nationale Bank van België dat er zich uitzonderlijke omstandigheden voordoen die de uitsluiting van de in artikel 500 ter, lid 1, onder a) en b), van Verordening (EU) nr. 575/20132 genoemde blootstellingen met betrekking tot centrale banken van de maatstaf van totale blootstelling rechtvaardigen (voor de berekening van de hefboomratio). Deze Mededeling specifieert ook welke blootstellingen met betrekking tot centrale banken vallen onder deze mogelijkheid tot uitsluiting. |
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07/10/2020 |
Regulatory - Environment |
Nationale Bank / ERMG publiceren maandelijks COVID-19 economisch dashboard |
Vanaf vandaag publiceert de Nationale Bank samen met de partners van de Economic Risk Management Group (ERMG) maandelijks een complete set van indicatoren voor wie de impact van COVID-19 op de Belgische en internationale economie van dichtbij wil volgen in de vorm van een maandelijks COVID-19 Dashboard. Dit Dashboard brengt zowel de situatie van de bedrijven, de financiële sector als de gezinnen in kaart. |
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Overlegcomité beslist strengere maatregelen en duidt COVID-19 commissaris aan |
De federale regering en de minister-presidenten van de deelstaten hebben zich vandaag gebogen over de epidemiologische situatie met betrekking tot COVID-19. Het Overlegcomité beoordeelt de situatie als bijzonder ernstig en heeft daarom beslist de maatregelen te verstrengen. Het Overlegcomité heeft ook een COVID-commissaris aangeduid. |
State aid and Support Measures |
05/10/2020 |
Regulatory – Environment |
Banking & Finance |
FCA assists innovative companies in tackling coronavirus challenges |
Application windows for Cohort 7 of the Regulatory Sandbox and the pilot of a new Digital Sandbox initiative have opened today, with an emphasis on supporting products and solutions that will assist consumers and firms affected by the pandemic. Three key areas - preventing fraud and scams, supporting the financial resilience of vulnerable consumers, and improving access to finance for small and medium sized enterprises - have been identified as particular areas of importance for the FCA. |
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02/10/2020 |
State aid and support measures |
Coronavirus: Commission Statement on consulting Member States on proposal to prolong and adjust State aid Temporary Framework |
Today, the European Commission has sent to Member States for consultation a draft proposal to prolong until 30 June 2021 the State aid Temporary Framework, adopted on 19 March 2020 to support the economy in the context of the coronavirus outbreak, and adjust its scope.
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1/10/2020 |
Employment |
30/09/2020 |
Banking & Finance |
EIOPA sets up its key priorities in the light of the pandemic |
The European Insurance and Occupational Pensions Authority (EIOPA) has set out its priorities for 2021-2023 taking into account the current market situation in the light of the COVID-19 pandemic, as well as the political priorities defined by the European Commission.
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28/09/2020 |
Regulatory - Environment |
Banking & Finance |
Vorig jaar waren er in België 26 betalingsinstellingen vergund, in 2015 waren er dit slechts 17, dit betekent dus sinds dan een stijging met 53 %. Dat maakte de NBB bekend bij de publicatie van haar jaarlijks rapport over het toezicht van de financiële marktinfrastructuren, betalingsinstellingen en aanbieders van kritische diensten, dat verder ook een eerste beeld geeft van de impact van COVID-19 op deze instellingen. |
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27/09/2020 |
Tax & Social Security |
25/09/2020 |
State aid and Support Measures |
COVID-19: Council approves €87.4 billion in financial support for member states under SURE |
The Council today approved €87.4 billion of financial support to 16 member states in the form of EU loans under SURE – a temporary EU instrument to mitigate unemployment risks during the COVID-19 crisis. The support will help the member states finance the severe increase in public expenditure incurred as of 1 February 2020 as a result of the use of national short-time work schemes and similar measures, including for self-employed persons, and some health-related measures in response to the pandemic. SURE is one of the three safety nets, worth up to €540 billion, that were agreed by the Eurogroup on 9 April 2020 and subsequently endorsed by the EU leaders to protect workers, businesses and sovereigns. |
Banking & Finance |
Basel Committee approves annual G-SIBs assessment, updates workplan to evaluate post-crisis reforms |
The Basel Committee met on 14, 18 and 25 September 2020 to take stock of Covid-19 risks to the global banking system and related vulnerabilities, and to discuss a range of policy and supervisory initiatives. The outlook for global financial stability continues to be uncertain. Factors that could heighten risks to the banking system include the trajectory of Covid-19 infections and containment measures, a protracted recovery period, and the unwinding and expiration of support measures. And the banking system's operational resilience will continue to be tested in light of the increase in remote working and banks' reliance on technology and third-party service providers. |
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24/09/2020 |
Employment |
23/09/2020 |
Employment |
22/09/2020 |
Banking & Finance |
EU financial regulators assess risks to the financial sector after the outbreak of COVID-19 and call for enhanced cooperation |
The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) have issued their first joint risk assessment Report of the financial sector since the outbreak of the COVID-19 pandemic. The Report highlights how the pandemic has led to further amplified profitability concerns across the board and heightened liquidity challenges in segments of the investment fund sector. It particularly points to economic and market uncertainty as a key challenge going forward. The impact of the crisis on EU banks’ asset quality is a key concern as significant uncertainty about the timing and size of a recovery persists. The ESAs see a risk of decoupling of financial market performance from the underlying economic activity, and , a prolonged lower for longer interest rate environment which is expected to weigh on the profitability and solvency of financial institutions, as well as contributing to the build-up of valuation risks. |
Corporate |
Circulaire 2020/C/122 over de vrijgestelde reserve ter versterking van de solvabiliteit en het eigen vermogen van de vennootschappen ten gevolge van de COVID-19-pandemie |
Deze circulaire bespreekt de bepalingen over de vrijgestelde reserve ter versterking van de solvabiliteit en het eigen vermogen van de vennootschappen ten gevolge van de COVID-19-pandemie die werden ingevoerd door de wet van 23.06.2020 houdende fiscale bepalingen ter bevordering van de liquiditeit en solvabiliteit van ondernemingen in het kader van de bestrijding van de economische gevolgen van de COVID-19-pandemie. |
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21/09/2020 |
Tax & Social Security |
Banking & Finance |
IOSCO issues measures to reduce conflict of interests in debt capital raising |
The Board of the International Organization of Securities Commissions (IOSCO) published final guidance to help its members address potential conflicts of interest and associated conduct risks market intermediaries may face during the debt capital raising process. The guidance also seeks to address some specific concerns observed by certain regulators during the COVID-19 crisis that may affect the integrity of the capital raising process. |
Regulatory - Environment |
18/09/2020 |
Banking & Finance |
Public debt: Safe at any speed? |
Has government debt reached dangerous levels? Or can it still be raised to bridge the economic crater left by the COVID-19 pandemic? As usual, economists are split on the answers to these critical policy questions. While some point out that current levels signal heightened risk of sovereign debt crises, others take comfort in the historically low interest rates, suggesting that governments could actually sustain much higher debts than in the past. To help clarify the discussion, the article draws on the conventional toolkit used in debt sustainability analyses by institutions like the IMF or the European Commission to estimate debt levels beyond which it would be unsafe to venture.
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State aid and Support Measures |
17/09/2020 |
Regulatory - Environment |
Financial services – Regulatory |
ESMA renews its decision requiring net short position holders to report positions of 0.1% and above |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position reaches or exceeds 0.1% of the issued share capital. The measure applies from 18 September 2020 for a period of three months. |
Banking & Finance |
ECB’s Governing Council says that exceptional circumstances justify leverage ratio relief |
The Governing Council of the European Central Bank (ECB) has decided that it concurs with ECB Banking supervision that there are ‘exceptional circumstances’ allowing the temporary exclusion of certain central bank exposures from the leverage ratio. |
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16/09/2020 |
State aid and Support Measures |
15/09/2020 |
Tax & Social Security |
14/09/2020 |
Employment |
Vrijwilligers jaarlijks kostenplafond - coronamaatregel |
Bij heel wat activiteiten in de vrijetijdsbesteding of de ondersteunende zorg, worden vrijwiligers ingeschakeld. Zij zijn niet verbonden door een arbeidsovereenkomst en doen dit onbezoldigd. Het 'onbezoldigd karakter' van het vrijwilligerswerk belet niet dat de kosten die de vrijwilliger voor de organisatie maakt, door de organisatie worden vergoed. De realiteit en de omvang van die kosten moeten niet bewezen worden, voor zover het totaal van de ontvangen kostenvergoedingen niet meer bedraagt dan 34,71 EUR/dag en 1.388,40 EUR/jaar (geïndexeerd).
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Regulatory - Environment |
13/09/2020 |
Employment |
Regulatory - Environment |
11/09/2020 |
State aid and Support Measures |
Besluit van de Vlaamse Regering tot toekenning van steun aan de sportsector in het kader van het noodfonds sport naar aanleiding van de COVID-19-pandemie / Arrêté du Gouvernement flamand octroyant une aide au secteur du sport dans le cadre du fonds d'urgence sport à la suite de la pandémie COVID-19 | ||
Addressing COVID-19: Council approves €6.2 billion budget increase for 2020 |
Today, the Council agreed to add €6.2 billion to the EU 2020 budget to address the impact of the COVID-19-crisis and to fund inter alia the vaccine strategy. The Council adopted draft amending budget No 8 for 2020 by written procedure. The revised budget increases payments for the Emergency Support Instrument (ESI) by €1.09 billion to ensure the development and deployment of a COVID-19 vaccine. The European Commission will use this money as a down-payment for pre-ordering vaccine doses. |
Employment |
10/09/2020 |
Tax & Social Security |
Circulaire 2020/C/117 over de belastingvermindering voor kinderoppas voor activiteiten die worden geannuleerd in het kader van COVID-19 |
Commentaar op art. 16, § 4, van de wet van 29.05.2020 houdende diverse dringende fiscale bepalingen ten gevolge van de COVID-19 pandemie (BS 11.06.2020) en art. 6, van de wet van 15.07.2020 houdende diverse dringende fiscale bepalingen ten gevolge van de COVID-19 pandemie (CORONA III) (BS 23.07.2020). Deze circulaire annuleert en vervangt de circulaire 2020/C/60 van 24.04.2020. / Commentaire de l’art. 16, § 4, de la loi du 29.05.2020 portant diverses mesures fiscales urgentes en raison de la pandémie du COVID-19 (MB 11.06.2020) et de l’art. 6 de la loi du 15.07.2020 portant diverses mesures fiscales urgentes en raison de la pandémie du COVID-19 (CORONA III) (MB 23.07.2020). |
Employment |
State aid and Support Measures |
8/09/2020 |
State aid and Support Measures |
7/09/2020 |
Tax & Social Security |
Circulaire 2020/C/106 met betrekking tot ondersteunende maatregelen en administratieve toleranties inzake registratie- en successierechten in het kader van de gezondheidscrisis verbonden met COVID-19 |
Maatregelen en administratieve toleranties inzake registratie- en successierechten in het kader van de gezondheidscrisis verbonden met COVID-19 / Mesures de soutien et tolérances administratives concernant les droits d’enregistrement et de succession dans le cadre de la crise sanitaire liée au COVID-19
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4/09/2020 |
Regulatory - Environment |
Coronavirus: Commission proposes more clarity and predictability of any measures restricting free movement in the European Union |
The Commission has today adopted a proposal for a Council Recommendation to ensure that any measures taken by Member States that restrict free movement due to the coronavirus pandemic are coordinated and clearly communicated at the EU level. The Commission's proposal sets out four key areas where Member States should work closer together: 1. Common criteria and thresholds for Member States when deciding whether to introduce travel restrictions; |
State aid and Support Measures |
3/09/2020 |
Regulatory - Environment |
2/09/2020 |
Tax & Social Security |
Circulaire 2020/C/112 over de tijdelijke aanpassing van de berekening van de vermeerdering wegens geen of ontoereikende voorafbetalingen als gevolg van COVID-19 |
Deze circulaire bespreekt de tijdelijke maatregel genomen in het kader van de strijd tegen COVID-19 wat betreft de voorafbetalingen gedaan om een belastingvermeerdering te vermijden. / Cette circulaire commente la mesure temporaire prise dans le cadre de la lutte contre le COVID-19 en ce qui concerne les versements anticipés effectués en vue d’ éviter une majoration d’impôt.
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Banking & Finance |
ESMA sees high risk of decoupling of financial market performance and underlying economic activity |
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes its second Trends, Risks and Vulnerabilities (TRV) Report of 2020. A webinar open to the public will be held on 9 September to present the report. The Report analyses the impact of COVID-19 on financial markets during the first half of 2020 and highlights the risk of a potential decoupling of financial market performance and underlying economic activity, which raises the question of the sustainability of the current market rebound. The TRV also highlights specific risks for financial stability and investors in relation to Collateralised Loan Obligations (CLOs) model risk, EU fund industry interconnectedness and spill overs, research unbundling and closet index funds costs and performance. |
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1/09/2020 |
Employment |
Regulatory - Environment |
31/08/2020 |
State aid and Support Measures |
Coronavirus Global Response: Commission joins the COVID-19 Vaccine Global Access Facility (COVAX) |
Today, the European Commission has confirmed its interest to participate in the COVAX Facility for equitable access to affordable COVID-19 vaccines everywhere, for everyone who needs them. As part of a Team Europe effort, the Commission is today also announcing a contribution of €400 million in guarantees to support COVAX and its objectives in the context of the Coronavirus Global Response.
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28/08/2020 |
Employment |
Banking & Finance |
ECB extends euro liquidity lines with two central banks |
The European Central Bank (ECB) and the Hrvatska narodna banka (Croatian National Bank, HNB) as well as the Banca Naţională a României (National Bank of Romania, BNR) have agreed to extend the respective euro liquidity lines by six months until the end of June 2021. |
Financial services – Regulatory |
ESMA proposes to further postpone CSDR settlement discipline |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a final report on draft regulatory technical standards (RTS) definitively postponing the date of entry into force of the Commission Delegated Regulation (EU) 2018/1229 (RTS on settlement discipline) until 1 February 2022. |
Regulatory - Environment |
27/08/2020 |
Banking & Finance |
New EIB index measures economic vulnerability to COVID-19 in countries outside the EU |
The new European Investment Bank (EIB) COVID-19 Economic Vulnerability Index examines which countries are the most vulnerable to a virus such as the COVID-19 and which countries should take the most stringent precautions to prevent the spread of such a virus. It is the only report currently available that takes a closer look at how developing countries are affected by the crisis. The index covers countries outside the European Union and highlights the regions that need the most help. It takes into account risk factors such as the quality of healthcare, age of the population and structure of the economy – including reliance on tourism, remittances, commodity exports, global value chains, capacity of the countries to implement countercyclical financial policy, strength of the banking sector, and more. |
Tax & Social Security |
Circulaire 2020/C/111 over de belastingvermindering voor de in 2020 gedane giften |
Deze circulaire handelt over de belastingvermindering voor in 2020 gedane giften (wet van 15.07.2020 houdende diverse dringende fiscale bepalingen ten gevolge van de COVID-19 pandemie (CORONA III)). |
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Circulaire 2020/C/110 over de fiscale vrijstelling voor vrijwillige overuren in kritieke sectoren in het kader van de COVID-19-pandemie |
Eerste commentaar op de fiscale vrijstelling voor bezoldigingen met betrekking tot 120 vrijwillige overuren die bij de werkgevers die tot de kritieke sectoren behoren werden gepresteerd tijdens de periode van 01.04.2020 tot en met 30.06.2020. |
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Regulatory - Environment |
26/08/2020 |
Financial services – Regulatory |
Circulaire NBB_2020_034 / Dividenduitkeringen, variabele beloning en winstdeelname in de context van de COVID-19 pandemie |
Deze circulaire geeft de verwachtingen van de Nationale Bank van België (de Bank) weer inzake dividenduitkeringen, variabele beloning en winstdeelname door Belgische (her)verzekeringsondernemingen en -groepen in de contextvan de COVID-19 pandemie. Circulaire NBB_2020_012 van 7 april 2020 wordt ingetrokken en wordt vervangen door deze circulaire.
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Employment |
Dringende oproep van de sociale partners binnen de Hoge Raad voor Preventie en Bescherming op het werk voor een vlottere coördinatie van de verschillende maatregelen in de strijd tegen het SARS CoV-2 virus |
De sociale partners van de Hoge Raad voor Preventie en Bescherming op het werk trekken aan de alarmbel i.v.m. de wijze waarop besluitvorming vandaag gebeurt over preventie van virusoverdracht via het werk.
De directe aanleiding hiertoe zijn enkele provinciebesluiten inzake seizoenarbeid, onvoldoende kennis over en aandacht voor de rol die arbeidsartsen opnemen en kunnen opnemen in de preventie van virusoverdracht en merkwaardige beslissingen en praktijken rond het testen en rond het nemen van de temperatuur van werknemers.
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24/08/2020 |
State aid and Support Measures |
Coronavirus: Commission proposes to provide €81.4 billion in financial support for 15 Member States under SURE |
The European Commission has presented proposals to the Council for decisions to grant financial support of €81.4 billion to 15 Member States under the SURE instrument. SURE is a crucial element of the EU's comprehensive strategy to protect citizens and mitigate the severely negative socio-economic consequences of the coronavirus pandemic. It is one of the three safety nets agreed by the European Council to shield workers, businesses and countries.
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Regulatory - Environment |
22/08/2020 |
Employment |
Pretracing buitenlandse arbeidskrachten - coronamaatregel |
In het kader van de strijd tegen de verspreiding van het coronavirus COVID-19, is elke werkgever of gebruiker die voor werkzaamheden in België in de sectoren bouw, schoonmaak en land- en tuinbouw en in de vleessector tijdelijk beroep doet op een in het buitenland verblijvende of wonende werknemer of zelfstandige, verplicht een aantal gegevens in te zamelen en bij te houden. Een uitzondering hierop zijn de uitvoering voor natuurlijke personen van werkzaamheden voor strikt persoonlijke doeleinden (zoals bijvoorbeeld installatie of herstelling van een verkoelingssysteem in de private woning).
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Regulatory - Environment |
Tax & Social Security |
21/08/2020 |
State aid and Support Measures |
State aid: Commission approves €290 million Belgian support to Brussels Airlines in the context of the coronavirus outbreak |
The European Commission has approved a €290 million Belgian aid measure to support SN Group, which is composed of SN Airholding and its sole subsidiary Brussels Airlines, in the context of the coronavirus outbreak. The aid measure consists of a €287 million loan and an equity injection of around €3 million. The aid measure was approved under the State aid Temporary Framework.
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19/08/2020 |
Tax & Social Security |
Circulaire 2020/C/106 met betrekking tot ondersteunende maatregelen en administratieve toleranties inzake registratie- en successierechten in het kader van de gezondheidscrisis verbonden met COVID-19 |
Maatregelen en administratieve toleranties inzake registratie- en successierechten in het kader van de gezondheidscrisis verbonden met COVID-19 Coronavirus, Covid-19 Mesures de soutien et tolérances administratives concernant les droits d’enregistrement et de succession dans le cadre de la crise sanitaire liée au COVID-19 Coronavirus, Covid-19 |
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17/08/2020 |
Banking & Finance |
EIOPA’s Risk Dashboard: European insurers remain exposed to high risks since the outbreak of COVID-19 |
Today the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the first quarter of 2020 Solvency II data. The results show that the risk exposures of the European Union insurance sector remain generally high compared to April as a result of the COVID-19 outbreak. The pandemics continued to cause disruptions in all financial sectors and economic activities. Insurers are particularly exposed to very high levels of macro risk, while market, credit, profitability and solvency risks are at high level. |
Tax & Social Security |
Circulaire 2020/C/104 over het schenken van bepaalde goederen aan bepaalde instellingen en giften in natura |
Deze circulaire handelt over een aantal dringende fiscale bepalingen die worden genomen ten gevolge van de COVID-19-pandemie. Het gaat met name over een tijdelijke maatregel inzake het gratis verstrekken van medische hulpmiddelen of computers aan bepaalde instellingen en de gevolgen ervan op het stuk van de btw, de VenB en de BNI/ven. Verder bespreekt deze circulaire ook een tijdelijke maatregel inzake giften in natura die in dezelfde context gebeuren. Cette circulaire traite d’un certain nombre de dispositions fiscales urgentes prises en raison de la pandémie de COVID-19. Il s’agit en particulier d’une mesure temporaire relative à la fourniture gratuite de dispositifs médicaux ou d’ordinateurs à certains établissements et de leurs implications en matière de TVA, d’ISOC et d’INR/soc. Cette circulaire traite également d’une mesure temporaire concernant les dons en nature effectués dans le même contexte. |
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14/08/2020 |
Regulatory - Environment |
Coronavirus: Commission reaches first agreement on a potential vaccine |
Today, the European Commission has reached a first agreement with the pharmaceutical company AstraZeneca to purchase a potential vaccine against COVID-19 as well as to donate to lower and middle income countries or re-direct to other European countries. This is following the positive steps regarding the conclusion of exploratory talks with Sanofi-GSK announced on 31 July and with Johnson & Johnson on 13 August. Once the vaccine has proven to be safe and effective against COVID-19, the Commission now has agreed the basis for a contractual framework for the purchase of 300 million doses of the AstraZeneca vaccine, with an option to purchase 100 million more, on behalf of EU Member States. The Commission continues discussing similar agreements with other vaccine manufacturers.
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EBA updates its work programme for 2020 in light of the COVID-19 pandemic |
The EBA published today its updated annual work programme for 2020 to reflect all the changes brought in by the COVID-19 pandemic to its activities. The EBA work programme has been impacted by the outbreak of COVID-19 and its global spread since February 2020, resulting in contained delays mainly to allow banks to focus on and ensure continuity of their core operations, including support to their customers. |
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Employment |
Tijdelijke werkloosheid na de corona-epidemie – overgangsmaatregelen van 01.09.2020 tot en met 31.12.2020 |
Tijdens de periode van 13.03.2020 tot en met 31.08.2020 wordt het begrip overmacht soepel geïnterpreteerd en mogen alle situaties van tijdelijke werkloosheid die het gevolg zijn van het coronavirus worden beschouwd als tijdelijke werkloosheid wegens overmacht. Dat is ook het geval als ze het gevolg zijn van werkgebrek wegens economische redenen en het bv. nog mogelijk is om enkele dagen per week te werken. Ook de procedure voor het indienen van tijdelijke werkloosheid werd sterk vereenvoudigd, zowel voor de werkgevers als voor de werknemers. |
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11/08/2020 |
Employment |
Prolongation of the temporary unemployment for force majeure – application needed for prolongation after 31/8/2020 |
The Belgian scheme for temporary unemployment due to ‘force majeure COVID-19’ has been extended until 31 August 2020 and for companies 'particularly hard hit' even until 31 December 2020.
Our Labour & Employment team summarised the conditions for the further application of the system of temporary unemployment for force majeure.
For more information, click here.
Don’t hesitate to reach out to Leen Holvoet or Siemen Buttiëns should you have any questions.
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Financial services – Regulatory |
The European Banking Authority (EBA) published today a revised version of its Implementing Technical Standards (ITS) on supervisory reporting v3.0 and two sets of Guidelines on disclosures and supervisory reporting requirements. These products provide clarifications on the application of certain adjustments (“quick fix”) on institutions’ disclosures and supervisory reporting introduced in the Capital Requirements Regulation (CRR) in response to the COVID19. |
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10/08/2020 |
Regulatory - Environment |
7/08/2020 |
State aid and Support Measures |
6/08/2020 |
Regulatory - Environment |
5/08/2020 |
State aid and Support Measures |
Ministerieel besluit over de verhoging van het percentage voor budgetoverschrijding als gevolg van COVID-19 | ||
4/08/2020 |
Regulatory - Environment |
29/07/2020 |
Regulatory - Environment |
De epidemie van het coronavirus heeft de consumptie van de particulieren aanzienlijk vertraagd. Na de lockdown blijkt de gezinsconsumptie echter nog niet onmiddellijk op te leven: de meeste consumenten geven te kennen dat ze minder vaak naar winkels en horecagelegenheden gaan, voornamelijk wegens de geldende maatregelen en uit vrees voor de gezondheid. Dit bevestigt de analyse van de Bank dat algemene maatregelen ter ondersteuning van de koopkracht waarschijnlijk maar een beperkte invloed op de gezinsconsumptie zouden hebben. De consumenten lijken tijdens de lockdown ook hun consumptiegewoonten te hebben aangepast, met name door meer dan voorheen gebruik te maken van e-commerce, en nemen zich voor die nieuwe gewoonten in de komende weken te behouden. Dat blijkt uit een enquête die de Nationale Bank van België (NBB) van 14 tot 21 juli heeft gehouden in samenwerking met het Microsoft Innovation Center, dus vóór de opflakkering van het aantal besmettingen en vóór de recente aanscherping van de gezondheidsmaatregelen door de overheid om de verspreiding van het virus in te perken. |
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28/07/2020 |
Banking & Finance |
La présente circulaire remplace la circulaire NBB_2020_21 et intègre la version consolidée du 25 juin 2020 des orientations de l’ABE EBA/GL/2020/02 dans la pratique de contrôle de la Banque. En réponse à la pandémie de COVID-19, des initiatives et des mesures ont été prises dans plusieurs États membres par différentes instances (autorités de contrôle, pouvoirs publics et établissements financiers) pour assister les emprunteurs qui étaient sains et solvables avant l’éclatement de cette pandémie en cas d’éventuels problèmes de liquidité temporaires auxquels ils peuvent être confrontés en raison des mesures de confinement et de leurs conséquences économiques. En Belgique également, un report de paiement non législatif (moratoire) pour les crédits aux entreprises ainsi que des moratoires législatifs pour les crédits hypothécaires et pour les crédits à la consommation ont été instaurés. / Deze circulaire vervangt circulaire NBB_2020_21 en integreert en de geconsolideerde versie van 25 juni 2020 van de EBA richtsnoeren EBA/GL/2020/02 in de toezichtspraktijk van de Bank. Als gevolg van de COVID-19 crisis werden in verschillende lidstaten initiatieven genomen en maatregelen getroffen door verschillende instanties- toezichthouders, overheden en financiële instellingen- om kredietnemers, die gezond en solvabel waren vóór het uitbreken van deze Covid-crisis, bij te staan bij mogelijke tijdelijke liquiditeitsproblemen waarmee ze geconfronteerd kunnen worden door de lockdownmaatregelen en de economische gevolgen hiervan. Ook in België werden een niet wettelijk vastgesteld betalingsuitstel (moratorium) voor ondernemingskredieten en wettelijk vastgestelde moratoria voor hypothecaire kredieten en consumentenkredieten uitgewerkt. |
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Communication NBB_2020_029 / Communication concernant les analyses de scénarios dans le cadre de la crise du COVID-19 / |
Les mesures restrictives prises en vue de lutter contre la pandémie de COVID-19 ont entraîné une crise sociale et économique sans précédent dont les effets se ressentent dans l'ensemble des économies mondiale et belge. Par conséquent, le secteur de l'assurance, tout comme d'autres secteurs économiques, est durement touché. De nombreuses prévisions budgétaires pour l'année 2020 sont compromises. Les résultats des entreprises d'assurance sont mis sous pression : |
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The FCA has published a Statement on mortgage prisoners, and a Consultation Paper containing proposals designed to support some consumers within the mortgage market. |
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27/07/2020 |
Banking & Finance |
EIOPA Statement on Solvency II supervisory reporting in the context of COVID-19 |
Following EIOPA’s Recommendations of 20 March 2020 on annual and quarterly reporting and publication deadlines, EIOPA considers that insurance and reinsurance undertakings should now be in condition to comply with the deadlines provided in the Solvency II framework. |
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24/07/2020 |
Banking & Finance |
Coronavirus response: Making capital markets work for Europe's recovery |
The European Commission has today adopted a Capital Markets Recovery Package, as part of the Commission's overall coronavirus recovery strategy. On 28 April, the Commission had already proposed a Banking Package to facilitate bank lending to households and businesses throughout the EU. Today's measures aim to make it easier for capital markets to support European businesses to recover from the crisis. The package proposes targeted changes to capital market rules, which will encourage greater investments in the economy, allow for the rapid re-capitalisation of companies and increase banks' capacity to finance the recovery |
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Coronavirus response: How the Capital Markets Union can support Europe's recovery |
Today's package contains targeted amendments to the Prospectus Regulation, MiFID II and securitisation rules. All of the amendments aim to help financial markets support Europe's recovery from the coronavirus crisis. They are at the heart of the Capital Markets Unionproject aimed at better integrating national capital markets and ensuring equal access to investments and funding opportunities across the EU. The package includes:
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Regulatory – Environment |
COVID-19 response: Safe collective cross-border travel in the COVID-19 era |
As part of the EU's response to the Covid-19 pandemic, the Council today adopted a set of conclusions aimed at restoring passengers’ and workers' confidence by minimising the risk of infection in cross-border collective passenger transport systems.
The Council also invites the Commission and member states to continue coordinating on the application of the transport guidelines and recommendations on Covid-19 adopted at national and EU level. |
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State aid and support measures |
23/07/2020 |
State aid and support measures |
We agreed on the Recovery Package and the European budget. This moment, it is my conviction, is pivotal in European history. We acted fast and with urgency. In less than two months, we hammered out a deal of more than 1.8 trillion euros. And this response is massive. Compared to the size of its economy, Europe's response is greater than that of the United States or China. |
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Regulatory - Environment |
Arrêté ministériel relatif à la prolongation des autorisations temporaires pour la mise sur le marché et l'utilisation de certains produits biocide TP 1 et TP 2 qui ont été accordées suite à l'émergence du nouveau coronavirus (COVID-19) / Ministerieel besluit betreffende de verlenging van de tijdelijke toelatingen voor het op de markt brengen en gebruik van bepaalde PT 1 en PT 2 biociden die werden verleend naar aanleiding van de uitbraak van het nieuwe coronavirus (COVID-19) | ||
Vanaf het begin van de COVID19-pandemie heeft de POD Maatschappelijke Integratie een monitoringsysteem opgezet om de noden in kaart te brengen van de OCMW's die geconfronteerd worden met de gevolgen van deze crisis. De eerste trends bevestigen de noodzaak van de sociale maatregelen die door de federale regering en de uitgebreide Kern genomen werden. |
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22/07/2020 |
State aid and support measures |
REACT-EU: Council agrees on its partial negotiating position |
The EU is providing additional funding and flexibility in the use of the structural funds to help member states' recovery efforts following the COVID-19 outbreak. EU ambassadors, meeting within the Committee of Permanent Representatives, today endorsed the Council's partial position on REACT-EU, the EU initiative with the biggest impact in the short to medium term, as well as on a series of amendments to long-term legislative proposals.REACT-EU will provide exceptional additional resources to member states, to be used for bolstering the economy and jobs in the worst affected regions and preparing a green, digital and resilient recovery.The resources will be made available in 2021 and 2022, serving as a bridge from the emergency COVID-19 response to the next phase, of repairing the economy in the long term. REACT-EU will primarily support health services and SMEs, the preservation of jobs and job creation, particularly for people in vulnerable situations, youth employment, and access to social services. Member states may also increase allocations for programmes for the most deprived. |
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As part of its measures to foster the recovery from the COVID-19 crisis, the EU will support member states' reform efforts to stimulate growth and put their economies back on track. EU ambassadors today endorsed the Council's position on establishing a ""technical support instrument"". This instrument will help member states strengthen their administrative capacity to prepare and implement reforms, so as to foster their resilience and support their recovery. |
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Consumptiecheque - coronamaatregel |
Ter ondersteuning van de horeca-, cultuur- en sportsector die geconfronteerd werden met een lange periode van lockdown, krijgen de werkgevers de mogelijkheid hun werknemers papieren consumptiecheques te geven vrij van RSZ (en belastingen) tot en met 31 december 2020, voor een maximum van 300 EUR (koninklijk besluit van 15 juli 2020 - BS van 17 juli 2020). Deze consumptiecheques zijn geldig tot en met 7 juni 2021 en kunnen slechts besteed worden:
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Regulatory - Environment |
De FSMA laat de informatie over de reisannulatieverzekering op de websites van verschillende verzekeraars aanpassen |
Op vraag van de Autoriteit voor Financiële Diensten en Markten (FSMA) hebben verschillende verzekeraars hun website aangepast om consumenten een correcte informatie te garanderen wanneer schadegevallen van de dekking worden uitgesloten als zij het gevolg zijn van een epidemie, pandemie of quarantaine. |
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21/07/2020 |
Financial services – Regulatory |
Today, the European Insurance and Occupational Pensions Authority (EIOPA) has published a Supervisory Statement on the Solvency II recognition of schemes based on reinsurance with regard to COVID-19 and credit insurance. The Statement provides EIOPA’s view on the exceptional supervisory treatment– for Solvency II purposes – of schemes based on reinsurance implemented by Member States in the extraordinary context of the European Commission ‘Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak’ adopted on 19 March 2020. |
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EBA publishes overview of public guarantee schemes issued in response to the Covid-19 pandemic |
The European Banking Authority (EBA) published today a list of the public guarantee schemes issued in response to the COVID-19 pandemic. This publication, which complements the information included in the EBA Report on the implementation of selected COVID-19 policies, aims at providing transparency to the public on the existence of public guarantees, as well as responding to the European Commission’s request for a stock-take of such guarantees. |
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ESMA recommends supervisory coordination on accounting for COVID-19-related rent concessions |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statementrecommending coordination of supervisory action with regards to issuers’ accounting for COVID-19-related rent concessions. |
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20/07/2020 |
Banking & Finance |
Tax & social security |
State aid and support measures |
Ministerieel besluit over vermindering van de subsidiëring bij het niet adequaat inzetten van personeel van voorzieningen voor personen met een handicap tijdens de periode COVID-19 | ||
17/07/2020 |
Banking & Finance |
Ultra-low yields and COVID-19 crisis significantly affecting the European insurance sector |
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published the report on the Impact of ultra-low yields on the insurance sector, including first effects of the COVID-19 crisis. The ultra-low interest rate environment remains a key concern for the insurance market. It constitutes one of the most important sources of systemic risk for insurers for the future. |
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Q&As Moratorium and guarantee scheme for credit institutions (updated version of 16 July 2020) |
The federal government, the National Bank of Belgium and the Belgian financial sector have agreed on the provision of temporary support for businesses, self-employed persons and households. Individuals experiencing payment problems as a result of the coronavirus crisis may delay their mortgage loan payments. Sound businesses and self-employed persons can also request postponement of their loan repayments. In their case, two guarantee schemes will also be implemented for new loans and credit lines granted by banks until 31 December 2020. 2. Moratorium 3. First guarantee scheme 4. Second guarantee scheme 5. Reporting and monitoring 6. Prudential and accounting implications
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Regulatory - Environment |
State aid and support measures |
Employment |
16/07/2020 |
Employment |
Coronavirus: European Commission calls for action in protecting seasonal workers |
The European Commission presents Guidelines to ensure the protection of seasonal workers in the EU in the context of the coronavirus pandemic. It provides guidance to national authorities, labour inspectorates, and social partners to guarantee the rights, health and safety of seasonal workers, and to ensure that seasonal workers are aware of their rights. Cross-border seasonal workers enjoy a broad set of rights, but given the temporary nature of their work, they can be more vulnerable to precarious working and living conditions. The coronavirus pandemic has given more visibility to these conditions, and in some cases exacerbated them. In some cases such problems can increase the risk of COVID-19 clusters. |
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Regulatory - Environment |
State aid and support measures |
15/07/2020 |
Regulatory - Environment |
Coronavirus: Commission strengthens preparedness for future outbreaks |
The Commission has presented immediate short-term measuresto strengthen EU health preparedness for COVID-19 outbreaks. The Commission has from the outset coordinated the exchange of information and recommendations with regard to cross border health actions and measures. A continued vigilance and fast response from the Commission and the Member States is essential to ensure that the spread of the virus can be contained and new, generalised lockdowns can be avoided. |
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Employment |
Tax & social security |
14/07/2020 |
State aid and support measures |
Coronavirus Response: Commission welcomes ‘Best Practices' to provide relief for consumers and businesses |
"The European Commission has welcomed a list of ‘best practices' agreed by the financial sector, and consumer and business organisations, to help further mitigate the impact of the coronavirus pandemic. It sets out concretely how different market participants can support citizens and businesses throughout the crisis. Today's ‘best practices' cover several issues, including:
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Minnelijk afbetalingsplan - precisering - coronamaatregel |
"In het kader van de corona-crisis zijn er 2 benaderingen om tegemoet te komen aan de betalingsmoeilijkheden van ondernemingen. Enerzijds is er het klassieke minnelijk afbetalingsplan dat geldt voor alle kwartalen en rechtzettingen. Het maximale uitstel loopt over 24 mensualiteiten met toepassing van sancties van laattijdigheid. Deze zijn begrepen in de betalingsmodaliteiten, met mogelijke kwijtschelding a posteriori wanneer de bijdragen betaald zijn. Anderzijds voorziet het koninklijk besluit nr. 17 in een uitstel van betaling via een bijzonder afbetalingsplan voor de bijdragen van het 1ste kwartaal 2020, voor de afrekening van het vakantiegeld 2019 en voor de bijdragen van het 2de kwartaal 2020, dat loopt over maximaal 24 mensualiteiten, zonder toepassing van sancties voor zover de modaliteiten gerespecteerd worden. Als de afbetalingsmodaliteiten niet worden gerespecteerd, worden deze sancties alsnog in rekening gebracht." |
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13/07/2020 |
Tax & Social Security |
Uitstel van betaling - precisering - coronamaatregel |
Omwille van de corona-epidemie heeft de regering een uitstel van betalingen aan de RSZ tot 15 december 2020 goedgekeurd (koninklijk besluit nr. 17 van 4 mei 2020 - BS van 12 mei 2020. Deze maatregelen hebben betrekking op drie soorten uitstel van betaling:
Het daarop aansluitende koninklijk besluit nr. 30 (BS van 15 juni 2020) wijzigt retroactief dit koninklijk besluit nr. 17 en gaat verder in op een aantal bepalingen. |
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State aid and support measures |
10/07/2020 |
State and Support Measures |
9/07/2020 |
Financial services – Regulatory |
ESMA clarifies external support within the meaning of article 35 of the mmf regulation |
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, today publishes a public statement on external support under Article 35 of the Money Market Funds (MMF) Regulation. ESMA is issuing this statement in the context of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EU’s financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support. It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of these and any future liquidity challenges for MMFs in the context of the current COVID-19 pandemic |
Banking & Finance |
EBA calls on resolution authorities to consider the impact of COVID-19 on resolution strategies and resolvability assessments |
The European Banking Authority (EBA) published today a statement on resolution planning in light of the COVID-19 pandemic. With this statement, the EBA intends to reiterate the importance of resolution planning in times of uncertainty to ensure that resolution stands as a credible option in times of stress. In addition, the EBA highlights the importance for resolution authorities to continue promoting institutions’ efforts to enhance their capabilities and increase their resolvability. Resolution authorities should take into account the impact of COVID-19 on banks and their business models when taking decisions on resolution plans and on the minimum requirement for own funds and eligible liabilities (MREL). In addition, resolution authorities should use and test resolution colleges as the main fora to exchange information and share decisions in these times of stress. |
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8/07/2020 |
Employment |
Tijdelijke collectieve arbeidsduurvermindering - coronamaatregel |
Het KB nr. 46 voorziet in de mogelijkheid dat ondernemingen erkend in moeilijkheden en/of in herstructurering waarvan de begindatum van de erkenning valt in de periode 1 maart 2020 - 31 december 2020, overgaan tot een tijdelijke collectieve vermindering van de arbeidsduur met 1/4de of 1/5de al dan niet in combinatie met de invoering van een vierdagenweek (dit laatste enkel voor de voltijdse werknemers). De tijdelijke collectieve arbeidsduurvermindering en vierdagenweek kunnen ingevoerd worden voor maximum 1 jaar en kan enkel gedurende de periode van erkenning en ten vroegste op 1 juli 2020.
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Banking & Finance |
EIOPA clarifies supervisory expectations on product oversight and governance requirements in the context of COVID-19 |
Today, the European Insurance and Occupational Pensions Authority (EIOPA) has issued a statement calling on insurance companies to review their product oversight and governance measures because of the potential impact the COVID-19 pandemic can have on products and their utility for customers. It is vitally important that insurance companies place the fair treatment of customers at the heart of their response to the COVID-19 pandemic. To ensure the continuing fair treatment of customers in light of COVID-19, insurance manufacturers are asked to:
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Betalingsuitstel krediet voor burgers en bedrijven kan worden verlengd tot eind 2020 |
Particulieren en bedrijven die voor hun hypothecair of ondernemingskrediet betalingsuitstel hebben gevraagd en gekregen tot uiterlijk 31 oktober 2020, kunnen bijkomend uitstel krijgen tot eind dit jaar. Voorwaarde is wel dat zij op het moment dat ze verlenging aanvragen nog steeds aan alle voorwaarden voldoen. Zo moeten ze bv. ook nu aantonen dat ze financieel lijden onder de gevolgen van de coronacrisis.
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6/07/2020 |
State aid and Support Measures |
Commission and EIB provide CureVac with a €75 million financing for vaccine development and expansion of manufacturing |
The European Investment Bank (EIB) and CureVac, a clinical-stage biopharmaceutical company developing a new class of transformative medicines based on optimised mRNA, entered into a €75 million loan agreement to support the Company's ongoing development of vaccines against infectious diseases, including its vaccine candidate CVnCoV aimed at preventing SARS-CoV-2 infections. In addition, the loan will support the Company's efforts to expand its existing Good Manufacturing Practice (GMP) certified production capabilities and accelerate the completion of its fourth production site in Tübingen, Germany. The EIB financing will be provided in three €25 million tranches upon completion of pre-defined milestones.
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Tax & Social Security |
3/07/2020 |
Regulatory - Environment |
Besluit van de Vlaamse Regering houdende maatregelen voor de behandelingstermijnen van de beoordelingscommissie volgens het Procedurebesluit Wonen van 14 juli 2017 en de bijzondere sociale leningen ten gevolge van de beperkende coronavirusmaatregelen / Arrêté du Gouvernement flamand portant des mesures concernant les délais de traitement de la commission d'évaluation conformément à l'arrêté Procédure Logement du 14 juillet 2017 et concernant les prêts sociaux spéciaux suite aux mesures restrictives en matière de coronavirus | ||
Meer CEO-fraude in tijden van corona |
Het verhoogde thuiswerk dat in vele bedrijven werd – en nog steeds wordt - doorgevoerd om het coronavirus te helpen indijken, is voor fraudeurs een opportuniteit om bedrijven op te lichten. Ze geven zich uit als de CEO (of een andere interne of externe vertrouwenspersoon) van het bedrijf en vragen om enkele belangrijke en dringende betalingen te doen. Tips om CEO-fraude te voorkomen De beste tip om CEO-fraude te voorkomen is dan ook: bouw voldoende controlestappen in. Spreek af dat - en al zeker grote - betalingen niet enkel via mail worden doorgegeven maar ook bevestigd worden via een sms, een WhatsAppbericht, via telefoon, … |
State aid and Support Measures |
2/07/2020 |
Banking & Finance |
Investment Plan for Europe exceeds €500 billion investment target ahead of time |
Over the past years and especially after the coronavirus outbreak the focus of the EFSI shifted: it has inspired InvestEU, the Commission's new investment programme for the years 2021-2027, and already now it contributes to the Corona Response Investment Initiative. EFSI will also play a key role in the NextGenerationEU package of measures to rebuild the European economy after the coronavirus shock. It will do this via a top-up for a Solvency Support Instrument, which aims to prevent insolvencies in European businesses.
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State aid and Support Measures |
Regulatory - Environment |
1/07/2020 |
Banking & Finance |
The European Investment Bank (EIB) and the European Stability Mechanism (ESM) are hosting today and tomorrow a joint online seminar on capital markets in the midst of the COVID-19 crisis. Aimed at their investor bases, the first day of the program will cover experts’ views on the macroeconomic and structural impact of the current crisis, as well as the role of sustainable finance in the economic recovery and the role of public and private investment in continuing to sustain the transition to a greener and low-carbon economy. The second day will be focused on Europe’s financial resilience highlighting its journey from banking union to capital markets union. Both institutions are playing a key role in Europe’s response to COVID-19 crisis. Within the EUR 540bn rescue package approved by the European Council in April 2020, the EIB is establishing a European Guarantee Fund that will mobilise up to EUR 200bn, mainly to support SMEs. The ESM has made available a EUR 240bn credit line, Pandemic Crisis Support, for euro area Member States to cover their direct and indirect healthcare costs related to COVID-19. |
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Financial Stability Report: Solid Belgian financial sector can face and help solve the challenges of the COVID-19 crisis |
The COVID-19 pandemic poses challenges to the financial sector and financial stability. But the Belgian financial system, thanks to its capital and liquidity buffers, is solid and can thus play a key role in cushioning the impact of the crisis on households and businesses. In its annual Financial Stability Report, the National Bank of Belgium (NBB), as supervisor, calls on financial institutions to continue to support the real economy, if necessary, by using the buffers that have been built up.
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Regulatory - Environment |
30/06/2020 |
Regulatory - Environment |
Banking & Finance |
The NBB keeps the CCyB rate at 0% |
Pursuant to its macroprudential powers laid down in the Belgian Banking Law of 2014, the NBB decided on 9 June 2020 to maintain the countercyclical buffer rate for credit risk exposures to the Belgian private non-financial sector at 0 % for the third quarter of 2020. Given the significant challenges the global economy is now facing, the National Bank of Belgium (NBB) had announced, on 11 March 2020, the full release of the countercyclical buffer. The countercyclical buffer is a temporary macroprudential buffer that is built up during the upward phase of the credit cycle in order to ensure sufficient absorption capacity for banks to have a sufficient margin to cover credit losses during the downward phase of the credit cycle. |
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29/06/2020 |
Regulatory - Environment |
Het omzetverlies als gevolg van de coronacrisis blijft aanzienlijk, maar is reeds met de helft verminderd |
De Belgische ondernemingen ramen dat hun omzet nog steeds 17 % onder het niveau van vóór de crisis ligt, dat is zowat de helft van de impact die werd opgetekend tijdens de weken van lockdown. Het gaat om een herstel met 6 procentpunten in twee weken en met 9 procentpunten in een maand. Het herstel is vrij algemeen gespreid over de sectoren en deze week betreft het in het bijzonder de horeca, waar de omzet duidelijk verbetert maar nog niet de helft overschrijdt van het niveau van vóór de crisis. De perceptie van het faillissementsrisico, de liquiditeitsproblemen en de mate van bezorgdheid zijn overigens verbeterd. Dat is wat blijkt uit de tiende enquête van de ERMG bij de Belgische ondernemingen. Hoewel deze indicatoren minder ongunstig zijn geworden, blijft de crisis een zware impact hebben op de ondernemingen. De vooruitzichten ten aanzien van investeringen en werkgelegenheid blijven bovendien somber. Een volledig herstel zal tijd vergen.
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27/06/2020 |
State aid and Support Measures |
Coronavirus Global Response: EIB and Commission pledge additional €4.9 billion |
The ‘Global Goal: Unite for our Future’pledging summit organised today by the European Commission and Global Citizen mobilised €6.15 billion in additional funding to help develop and ensure equitable access to coronavirus vaccines, tests and treatments. The money raised will also support economic recovery in the world’s most fragile regions and communities. This amount includes a €4.9 billion pledge by the European Investment Bank, in partnership with the European Commission, and €485 million committed by EU Member States. This brings total pledges under the Coronavirus Global Response pledging marathon, launched by European Commission President Ursula von der Leyen on 4 May, to €15.9 billion. |
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Coronavirus Global Response: EIB and Commission pledge additional €4.9 billion |
The ‘Global Goal: Unite for our Future'pledging summit organised today by the European Commission and Global Citizen mobilised €6.15 billion in additional funding to help develop and ensure equitable access to coronavirus vaccines, tests and treatments. The money raised will also support economic recovery in the world's most fragile regions and communities. This amount includes a €4.9 billion pledge by the European Investment Bank, in partnership with the European Commission, and €485 millioncommitted by EU Member States. This brings total pledges under the Coronavirus Global Response pledging marathon, launched by European Commission President Ursula von der Leyen on 4 May, to €15.9 billion. 40 governments took part in the summit and committed to ensuring universal access to coronavirus medicines. They also vowed to help rebuild communities that have been hit hard by the pandemic, in a fair and just way. As a landmark of global solidarity, the summit resulted in commitments for the production capacity of over 250 million vaccine doses for middle and lower income countries. |
Regulatory - Environment |
26/06/2020 |
Tax & Social Security |
Regulatory - Environment |
Employment |
25/06/2020 |
Banking & Finance |
De FSMA roept de ondernemingen in de bank-, beleggings- en verzekeringssector op om de cliënteninformatie te actualiseren bij het verstrekken van doorlopende beleggingsdiensten van beleggingsadvies of vermogensbeheer of bij de distributie van verzekeringen met een beleggingscomponent. Verwachtingen van de FSMA:
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Employment |
Regulatory - Environment |
24/06/2020 |
Employment |
Tijdelijke werkloosheid overmacht corona - kunstenaars en tijdelijke medewerkers evenementen | Het is mogelijk om tijdelijke werkloosheid wegens overmacht corona 'evenementen' aan te vragen wanneer men een belofte kan aantonen op een arbeidsovereenkomst (die dateert van ten laatste 15 april) voor een evenement dat had moeten plaatsvinden tussen 14 maart 2020 en 31 augustus 2020 en dat geannuleerd werd. De minister van Werk heeft dit op 8 mei 2020 bevestigd in de Commissie Sociale Zaken van de Kamer. Het gaat om het niet vervullen van een overeengekomen tewerkstelling in de evenementensector en dit zowel voor de kunstenaars als voor de tijdelijke medewerkers en uitzendkrachten van festivals en andere evenementen. | |
120 extra vrijwillige overuren - coronamaatregel |
The Council conclusions recommend to member states, the Commission and the sport movement how to address the COVID-19 pandemic in the recovery stage. The conclusions invite member states to promote the possibilities for support through EU programmes, funds and initiatives, such as the Erasmus+ programme, the European Solidarity Corps, the Corona Response Investment Initiative (CRII), and the Corona Response Investment Initiative Plus (CRII+). The conclusions also invite the sport movement to follow the guidelines from competent international bodies and the national health authorities, regarding the prevention and spreading of the COVID-19 virus, and explore possible solutions for the update of the national sport calendars, while taking into consideration the European and the international calendars. The conclusions were adopted by written procedure. |
Regulatory - Environment |
Conference on the Future of Europe - Council agrees its position |
Member states want the Conference on the Future of Europe to get citizens involved in a wide-ranging debate on Europe's future in the coming decade and beyond, including in the light of the COVID-19 pandemic. In its mandate, the Council takes the view that the conference should be launched as soon as the epidemiological conditions allow for it. It should focus on how to develop EU policies over the medium and long term in order to tackle more effectively the challenges facing Europe, including the economic repercussions of the COVID-19 pandemic and lessons learned from the crisis. |
Financial services – Regulatory |
Verlenging van de cyclus van de permanente opleiding van bepaalde complianceofficers naar aanleiding van COVID-19 |
Verlenging van de bijscholingstermijn voor complianceofficers omwille van de coronacrisis: koninklijk besluit en mededeling FSMA_2020_06. |
Banking & Finance |
NBB bevestigt: kredietkraan blijft open ondanks coronacrisis |
De Nationale Bank van België (NBB) gaf vandaag een stand van zaken aan de Kamer over de bancaire kredietverlening tijdens de coronacrisis. Haar belangrijkste bevindingen:
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State aid and Support Measures |
Tax & Social Security |
23/06/2020 |
Employment |
Tax and Social Security |
Regulatory - Environment |
State aid and Support Measures |
22/06/2020 |
State aid and Support Measures |
Supporting the recovery of the sport sector and addressing the COVID-19 pandemic: Council adopts conclusions |
The Council conclusions recommend to member states, the Commission and the sport movement how to address the COVID-19 pandemic in the recovery stage. The conclusions invite member states to promote the possibilities for support through EU programmes, funds and initiatives, such as the Erasmus+ programme, the European Solidarity Corps, the Corona Response Investment Initiative (CRII), and the Corona Response Investment Initiative Plus (CRII+). The conclusions also invite the sport movement to follow the guidelines from competent international bodies and the national health authorities, regarding the prevention and spreading of the COVID-19 virus, and explore possible solutions for the update of the national sport calendars, while taking into consideration the European and the international calendars. The conclusions were adopted by written procedure. |
Financial services – Regulatory |
De FSMA publiceert een q&a voor de genoteerde vennootschappen over het halfjaarlijks financieel verslag in tijden van COVID-19 |
De meeste genoteerde vennootschappen zullen binnenkort hun resultaten publiceren met betrekking tot de eerste jaarhelft van 2020. Dit zal voor deze vennootschappen wellicht de eerste wettelijk vereiste periodieke rapportering zijn die aan beleggers een uitgebreider en gedetailleerder inzicht zal geven over de impact van COVID-19 op hun positie, hun bedrijf en hun resultaten. De FSMA wenst in dit verband een aantal aandachtspunten mee te geven in de vorm van deze Q&A die gepubliceerd wordt in navolging van:
De FSMA roept de genoteerde vennootschappen op om bij de opstelling van hun halfjaarresultaten voldoende aandacht te besteden aan een correcte rapportering over de impact van COVID-19.
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Employment |
19/06/2020 |
Regulatory - Environment |
State aid and Support Measures |
Employment |
18/06/2020 |
Banking & Finance |
EBA extends deadline for the application of its Guidelines on payment moratoria to 30 September |
The European Banking Authority (EBA) has decided today to extend the application date of its Guidelines on legislative and non-legislative moratoria to 30 September 2020. With EU economies not yet fully opened, this extension shows the importance of a continued support to the measures taken by banks to extend loans in response to the extraordinary nature of the current situation. This extension would ensure that adequate treatment for borrowers is available across the EU, considering that the Covid-19 crisis has been affecting EU countries in a different way and at a different pace. |
Regulatory - Environment |
Employment |
Tax & Social Security |
State aid and Support Measures |
17/06/2020 |
Regulatory - Environment |
Countering the COVID-19 crisis in education and training: Council adopts conclusions |
The Council conclusions acknowledge the main challenges in the education and training systems caused by the COVID-19 pandemic as well as the immediate responses by the member states. They invite member states to examine possibilities for innovation and accelerated digital transformation, and for further development of teachers' and trainers' digital skills and competences.
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Banking & Finance |
Basel Committee meets; discusses impact of Covid-19; reiterates guidance on buffers |
The Basel Committee met on 10 and 16 June 2020 to discuss a range of policy issues and to review the impact to date of the coronavirus disease (Covid-19) pandemic on the global banking system. In addition to its discussion related to Covid-19, the Committee approved: • final revisions to the credit valuation adjustment risk framework, which will be published in the coming weeks; and |
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De coronacrisis heeft een aanzienlijke negatieve impact op de inkomens van bepaalde gezinnen met grotere verliezen voor die met het laagste inkomen |
Omwille van de coronacrisis hebben bepaalde gezinnen, met name die bestaande uit zelfstandigen, tijdelijk werklozen of jobstudenten, belangrijke inkomensverliezen geleden. Dat verlies is groter voor de lagere inkomens. Dat blijkt uit een grootschalige online enquête die door de Nationale Bank van België (NBB) werd gehouden tussen 7 en 24 mei, in samenwerking met Microsoft Innovation Center. |
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16/06/2020 |
Regulatory - Environment |
Tax & Social Security |
Employment |
15/06/2020 |
Regulatory - Environment |
Banking & Finance |
De indicatoren van de ERMG-enquête bij de ondernemingen wijzen op een aanhoudend, maar traag herstel van de Belgische economie |
De bevraagde Belgische ondernemingen rapporteren deze week een omzetdaling met 23 % ten opzichte van het niveau van vóór de crisis, wat een verbetering met 3 procentpunten is ten opzichte van de vorige enquête. Ook de indicatoren met betrekking tot het faillissementsrisico, de liquiditeitsproblemen, de werkgelegenheid, de mate van bezorgdheid en de investeringen tonen deze week een relatieve verbetering, al blijven ze nog steeds op een zorgwekkend niveau. Dat blijkt uit de afgelopen week gehouden enquête van de ERMG (Economic Risk Management Group). De meeste bedrijven zeggen hun verkoopprijzen niet te hebben veranderd en de crisis lijkt ook geen globale impact te hebben op de gemiddelde verkoopprijzen, al zijn deze laatste wel gestegen in sommige sectoren zoals de handel. |
Employment |
12/06/2020 |
Tax & Social Security |
Banking & Finance |
Belgische banken verlenen meer dan 253.000 keer betalingsuitstel aan particulieren en ondernemingen |
De banken blijven consumenten, bedrijven en zelfstandigen die onder financiële druk staan door de coronacrisis volop ondersteunen. Sinds 31 maart 2020 verleenden ze 121.651 betalingsuitstellen aan particulieren voor hun hypothecair krediet. Het totale onderliggende kredietvolume bedraagt 12,8 miljard euro of gemiddeld 105.175 euro per krediet. Wat bedrijven betreft, verleenden de banken sinds 31 maart 131.705 keer uitstel van betaling voor ondernemingskredieten. Het gaat in totaal over een onderliggend kredietvolume van 21,9 miljard euro of gemiddeld 166.021 euro per krediet. Meer dan 80% van het aantal betalingsuitstellen wordt toegekend aan kmo’s en zelfstandigen. |
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A new EIB report published today, the CESEE Bank Lending Survey, provides insights into banking group activities and business expectations in Central, Eastern and Southeastern Europe (CESEE). The report analyses portfolios, demand and supply for financing and the development of non-performing loans. The new edition includes a special analysis on banking group expectations before and after the impact of the coronavirus pandemic. | ||
Employment |
State aid and Support Measures |
Regulatory - Environment |
11/06/2020 |
Regulatory - Environment |
Financial services – Regulatory |
ESMA renews its decision requiring net short position holders to report positions of 0.1% and above | The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has renewed its decision to temporarily require the holders of net short positions in shares traded on a European Union (EU) regulated market to notify the relevant national competent authority (NCA) if the position exceeds 0.1% of the issued share capital. | |
ESMA publishes statement on MiFIR open access and COVID-19 |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is issuing a public statementto clarify the application of the MiFIR open access provisions (OAP) for trading venues (TVs) and central counterparties (CCPs) in light of the recent adverse developments related to COVID-19. |
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State aid and Support Measures |
Real Estate |
Employment |
10/06/2020 |
Regulatory - Environment |
9/06/2020 |
Regulatory - Environment |
The Council today adopted a decision adapting the EU position on the reference period to be used for measuring the growth of CO2 emissions in international aviation, to take account of the unprecedented drop in air traffic due to the coronavirus crisis. The reference period determines the objective for the stabilisation of emissions to be achieved by international aviation under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Consequently, it also determines the amount of offsets airlines have to purchase to meet that objective. CORSIA was agreed on by the International Civil Aviation Organisation (ICAO) in 2016. The baseline as established in 2018 consisted of the average of the international aviation CO2 emissions covered by CORSIA during 2019 and 2020. According to the EU position as set out by the decision, the amended baseline period for the emission values used to calculate growth factors should refer to 2019 emission levels. |
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Belgian economic activity is expected to shrink by a further 16 % in the second quarter of 2020 | The Covid-19 containment measures have caused an economic shock that is unprecedented in modern times. Affected by two weeks of containment measures, Belgian real GDP already shrank by 3.6 % in the first quarter of 2020. This is only slightly better than in the euro area as a whole, where activity declined by 3.8 %. First-quarter growth was only supported by positive contributions from net exports and stockbuilding. | |
Financial services – Regulatory |
ESMA extends deadline for responses to consultation on EMIR REFIT |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has decided, in view of the effects of the ongoing COVID-19 pandemic on stakeholders and market participants, to extend the response date for the consultation on the technical standards on reporting, data quality, data access and registration of Trade Repositories under EMIR REFIT to 3 July 2020. |
Banking & Finance |
EU Finance Ministers welcome rapid EIB response to COVID-19 crisis |
At the Annual Meeting of the EIB Board of Governors, meeting for the first time by video conference, finance ministers highlighted the significant impact of the EU Bank’s immediate response to mobilise EUR 40 billion of new investment since the start of the COVID-19 crisis and recent agreement to mobilise EUR 200 billion through the new pan-European Guarantee Fund identified as crucial for reducing the economic impact of the pandemic. |
Tax & Social Security |
8/06/2020 |
State aid and Support Measures |
"Team Europe" global response to COVID-19: Council welcomes the mobilisation of almost €36 billion and approves conclusions |
The Council approved conclusions on the "Team Europe" package that is part of the EU's global response to the COVID-19 pandemic. In its conclusions the Council expresses its deep concern about the global spread of the COVID 19 pandemic, which continues to claim lives worldwide and have far-reaching social and economic effects. The Council stresses the urgency of protecting the lives and livelihoods of all people, leaving no-one behind, and of prioritising efforts in partner countries that are most in need. In light of that the Council fully supports the "Team Europe" approach and welcomes the announcement that almost 36 billion euro have now been mobilised and will be used to address the devastating effects of the COVID-19 crisis in partner countries and regions. |
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Coronavirus: EU grants €314 million to innovative companies to combat the virus and support recovery |
The Commission announced today that it has awarded nearly €166 million, via the European Innovation Council (EIC) Accelerator Pilot, to 36 companies set to combat the coronavirus pandemic. In addition, over €148 million will be granted to another 36 companies set to contribute to the recovery plan for Europe, bringing the total investment from Horizon 2020, the EU's research and innovation programme, to €314 million in this round.
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Regulatory - Environment |
Arrêté ministériel prolongeant l'arrêté ministériel du 19 mars 2020 relatif aux activités à caractère privé ou public, de nature culturelle, sociale, festive, folklorique, sportive et récréative / Ministerieel besluit tot verlenging van het ministerieel besluit van 19 maart 2020 betreffende de privé- en publieke activiteiten van culturele, maatschappelijke, festieve, folkloristische, sportieve en recreatieve aard | ||
The Belgian economy’s recovery from the coronavirus crisis will be difficult, and the budget deficit in 2022 will still be twice as large as before the crisis |
This year, economic activity in Belgium is down by 9 % as a result of the restrictions imposed to prevent the spread of the Covid-19 pandemic. As these restrictions are eased, the economy should gradually recover. In the first instance, the revival of household consumption will be underpinned by pent-up demand, but there will also be more structural support from purchasing power, which will continue to rise during the projection period. Conversely, business investment will take somewhat longer to recover and net exports will continue to drag down growth throughout the projection period. Real GDP is expected to recover, with a year-on-year growth of 6.4 % in 2021 and 2.3 % in 2022. Nevertheless, even at the end of 2022 GDP will still be around 4 % below the level that was projected before the crisis and the Belgian economy will thus suffer permanent damage from the health crisis. Public finances will likewise be hard hit: the budget deficit will climb to more than 10 % of GDP in 2020. More importantly, even after that the deficit will remain structurally high, at more than twice the level that would have been reached without the crisis. |
Banking & Finance |
EBA releases bank-by-bank data at the start of the COVID-19 crisis |
The European Banking Authority (EBA) published today the seventh EU-wide transparency exercise. This additional data disclosure comes as a response to the outbreak of COVID-19 and provides market participants with bank-level data as of 31 December 2019, prior to the start of the crisis. The data confirms the EU banking sector entered the crisis with solid capital positions and improved asset quality, but also shows the significant dispersion across banks. |
Tax & Social Security |
Employment |
5/06/2020 |
State aid and Support Measures |
Regulatory - Environment |
Employment |
Tax & Social Security |
4/06/2020 |
Tax & Social Security |
Regulatory - Environment |
State aid and Support Measures |
Employment |
Real Estate |
3/06/2020 |
Tax & Social Security |
2/06/2020 |
Financial services – Regulatory |
The European Banking Authority (EBA) published today its Guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis. These Guidelines follow the implementation of a broad range of measures, such as legislative moratoria on loan repayments and public guarantees in Member States, with the aim to support the operational and liquidity challenges faced by borrowers. The Guidelines have been developed to address data gaps associated with such measures to ensure an appropriate understanding of institutions’ risk profile and the asset quality on their balance sheets both for supervisors and the wider public. |
Regulatory - Environment |
De omzet van de ondernemingen begint zich te herstellen, maar de vooruitzichten voor de Belgische economie blijven slecht |
De bevraagde ondernemingen rapporteren een omzetdaling met 26 % ten opzichte van het niveau van vóór de crisis, wat neerkomt op een verbetering met 5 procentpunt vergeleken met de vorige enquête en het beste resultaat is sinds de eerste enquête van eind maart. Deze verbetering is voornamelijk toe te schrijven aan ondernemingen in de handel en de bouwnijverheid, terwijl de situatie kritiek blijft in de horeca en de sector kunst, amusement en recreatie. Dat blijkt uit de enquête van de ERMG (Economic Risk Management Group) die afgelopen week werd gehouden. Voor de nabije toekomst is een normalisatie van de situatie nog niet aan de orde. Zes op tien ondernemingen verwachten tegen het einde van het jaar een daling van hun werkgelegenheid en zeven op acht ondernemingen gaan ervan uit dat ze in het derde kwartaal niet het omzetniveau van vóór de crisis zullen bereiken. De vooruitzichten voor de Belgische economie blijven dus slecht. |
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29/05/2020 |
Regulatory - Environment |
Employment |
Banking & Finance |
EBA has published its Report on convergence of supervisory practices in 2019. Overall, EBA has concluded that the key topics for supervisory attention identified in the EBA 2019 convergence plan have been largely implemented in supervisory work across the EU. This Report also incorporates the 2020 convergence plan, which identified five key topics for supervisory attention for 2020: ICT risk and operational resilience, loan origination standards, profitability, capital and liability management and money laundering and terrorism financing risk and other conduct risk for prudential supervisors. These topics have become even more relevant in the context of this COVID-19 pandemic. The plan makes reference to the significant supervisory efforts and resources that will be dedicated to monitoring the crisis preparedness of institutions in 2020 and further implications of COVID-19 on credit institutions` operations and financial soundness. |
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Coronamonitor: almost 250,000 delay payment credit |
Febelfin publishes an update of the corona monitor on a regular basis. It includes figures on mortgage and corporate credit deferral payments, as well as the latest evolution of new loans, contactless payments, cash withdrawals and card payments in physical outlets. |
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IOSCO encourages issuers’ fair disclosure about COVID-19 related impacts |
In its Statement on Importance of Disclosure about COVID-19, IOSCO:
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EIOPA publishes bi-weekly information for Relevant Risk Free Interest Rate Term Structures and Symmetric Adjustment to Equity Risk with reference to 26 May 2020 |
Due to COVID-19 outbreak, European Insurance and Occupational Pensions Authority is carrying out weekly extraordinary calculations on a weekly basis to monitor the evolution of the relevant risk-free interest rate term structures (RFR) and the symmetric adjustment to equity risk (EDA). EIOPA is publishing this information in order to support insurance and reinsurance undertakings in the monitoring of their solvency and financial position. The information will be published on specific area of the website created for this purpose both for RFR and EDA named “Extraordinary weekly updates”. |
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Newsletter: FAQs for intermediaries and credit providers - COVID-19 |
De FSMA heeft op haar website FAQ’s gepubliceerd om de tussenpersonen en de kredietgevers onder haar toezicht guidance te geven om hen ook in de huidige moeilijke situatie van COVID-19 in staat te stellen correct en in het belang van de consumenten te blijven functioneren. Deze FAQ’s bieden een antwoord op concrete vragen die de FSMA van tussenpersonen en kredietgevers ontving. Het voordeel van FAQ’s is dat deze evolutief van aard zijn en toelaten om de verstrekte informatie aan te vullen en bij te werken in functie van de evolutie van de COVID-19-epidemie en van de maatregelen in deze context. Deze FAQ’s richten zich tot de volgende entiteiten:
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State aid and Support Measures |
Tax & Social Security |
Wet houdende diverse dringende fiscale bepalingen ten gevolge van de COVID-19 pandemie / Loi portant diverses mesures fiscales urgentes en raison de la pandémie du COVID-19 | ||
28/05/2020 |
Tax & Social Security |
Banking & Finance |
COVID-19: overeenkomsten op afstand met betrekking tot beleggingsdiensten en verzekeringsdistributie |
De FSMA vestigt in het kader van de COVID-19-crisis de aandacht van financiële ondernemingen op specifieke regelgeving bij het verlenen van beleggingsdiensten en activiteiten van verzekeringsdistributie op afstand. |
Financial services – Regulatory |
IOSCO consults on outsourcing principles to ensure operational resilience |
The Board of the International Organization of Securities Commissions (IOSCO) is requesting feedback on proposed updates to its principles for regulated entities that outsource tasks to service providers. |
Regulatory - Environment |
State aid and Support Measures |
Arrêté du Gouvernement de la Communauté française de pouvoirs spéciaux n° 17 relatif au soutien des centres de rencontres et d'hébergement dans le cadre de la crise sanitaire du COVID-19 / Besluit van de Regering van de Franse Gemeenschap bij bijzondere machten nr. 17 inzake de steun voor ontmoetings- en opvangcentra in het kader van de gezondheidscrisis COVID-19 | ||
Just Transition Mechanism: the EIB and the European Commission join forces in a proposed new public loan facility to finance green investments in the EU |
The European Commission presents its proposal for a public sector loan facility under the Just Transition Mechanism. The facility will be implemented with the involvement of the European Investment Bank and will encourage investments that support the transition towards a climate-neutral economy by public sector authorities to the benefit of coal- and carbon-intensive regions. The facility will include €1.5 billion in grants from the EU budget and up to €10 billion in loans from the European Investment Bank’s own sources. The facility will mobilise up to between €25 and €30 billion of investments for helping territories and regions most affected by the transition to a climate-neutral economy, prioritising those that have less capacity to deal with the costs of the transition. The facility will be accessible to all Member States, initially based on national envelopes, through calls for proposals that meet the following criteria:
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Employment |
27/05/2020 |
State aid and Support Measures |
Loi relative au crédit à la consommation, visant à aider les emprunteurs à faire face à la crise provoquée par le coronavirus (1) | ||
Wet betreffende het consumentenkrediet, teneinde de kredietnemers van dergelijke kredieten te helpen de door het coronavirus veroorzaakte crisis te doorstaan (1) | ||
Europe's moment: Repair and prepare for the next generation |
Today, the European Commission has put forward its proposal for a major recovery plan. To ensure the recovery is sustainable, even, inclusive and fair for all Member States, the European Commission is proposing to create a new recovery instrument, Next Generation EU,embedded within a powerful, modern and revamped long-term EU budget. The Commission has also unveiled its adjusted Work Programme for 2020, which will prioritise the actions needed to propel Europe's recovery and resilience. The coronavirus has shaken Europe and the world to its core, testing healthcare and welfare systems, our societies and economies and our way of living and working together. To protect lives and livelihoods, repair the Single Market, as well as to build a lasting and prosperous recovery, the European Commission is proposing to harness the full potential of the EU budget. Next Generation EU of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027 will bring the total financial firepower of the EU budget to €1.85 trillion. |
Banking & Finance |
Belgians trade up to five times as many shares during the coronavirus crisis |
The coronavirus crisis has led to significant stock market fluctuations. In the light of these fluctuations, the FSMA conducted a quantitative study of the behaviour of Belgian private individual investors. |
Corporate and M&A |
Employment |
Regulatory - Environment |
26/05/2020 |
Tax & Social Security |
Uitstel van verschuldigde betalingen aan de RSZ - update 26/05/2020 coronamaatregel |
Omwille van de corona-epidemie heeft de regering sinds 20 maart 2020 en sinds 4 april 2020, een aantal maatregelen genomen. Één van deze maatregelen betreft het uitstel van betalingen aan de RSZ tot 15 december 2020 (koninklijk besluit nr. 17 van 4 mei 2020 - BS van 12 mei 2020) Deze maatregelen hebben betrekking op drie soorten uitstel van betaling:
De werkgevers die niet in aanmerking komen voor een automatisch uitstel van betaling, die niet volledig gesloten zijn geweest na een voorafgaande verklaring op eer en die niet voldoen aan de voorwaarden om een uitstel te bekomen op basis van een verminderde omzet of loonmassa, kunnen aan de RSZ om een minnelijk afbetalingsplan verzoeken voor de aangegeven bijdragen voor het 1ste en het 2de kwartaal 2020 en voor de bijdrage jaarlijkse vakantie voor het vakantiedienstjaar 2019. Hierop worden de bijdrageopslagen, forfaitaire vergoedingen en / of verwijlinteresten niet aangerekend wanneer en voor zover de vastgelegde afbetalingsmodaliteiten strikt worden nageleefd. Hetzelfde geldt voor de werkgevers die niet in staat zijn om uiterlijk op 15 december 2020 bij het verlopen van het uitstel, aan hun verplichtingen te voldoen. |
Consumer Law and Trade Practices |
Coronavirus: following Commission's call, platforms remove millions of misleading ads |
As part of its commitment to protect consumers online, the European Commission has coordinated a screening (‘sweep') of websites, with the aim of finding out where consumers in the EU are being subjected to content promoting false claims or scam products in the context of the coronavirus. The results show that, following the Commission's call, platforms have removed or blocked millions of misleading advertisements or product listings. The sweep – carried out by the Consumer Protection Cooperation (CPC) Network – consisted of two parts: a high-level screening of online platforms, and an in-depth analysis of specific advertisements and websites linked to products in high demand because of the coronavirus. |
Banking & Finance |
Financial policymakers discuss responses to COVID-19 with the private sector |
Financial policymakers and international standard setters today met virtually with private sector executives to discuss international policy responses to COVID-19. The meeting explored the effectiveness of prudential and other financial policy measures taken to date, including experiences with their implementation. Participants also discussed policy issues going forward, notably how financial institutions can better cope with the challenges resulting from rising solvency risks, and exchanged views on potential areas that may warrant further policy coordination. |
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Pandemic increases risks to financial stability |
Despite the immense social and economic disruption in the wake of the coronavirus (COVID-19) pandemic, decisive policy responses have helped to prevent a seizing-up of the financial system. However, even as infection rates fall in many countries, the impact on the economy and markets has unearthed and increased existing vulnerabilities for euro area financial stability, according to the May 2020 Financial Stability Review (FSR) of the European Central Bank (ECB). Financial stability risks could arise as these vulnerabilities, identified in earlier issues, interact with the pandemic. These include richly valued asset prices, fragile investment funds, the sustainability of sovereign and corporate debt, and weak bank profitability. |
Regulatory - Environment |
25/05/2020 |
Regulatory - Environment |
State aid and Support Measures |
COVID-19: Council adopts relief measures for aviation and railways |
The Council today adopted a temporary amendment to the rules on air services to support airlines and airports in the face of a sharp drop in air traffic due to the coronavirus pandemic. The Council also adopted an extension to the transposition deadline for the rail safety and interoperability directives of the fourth railway package to give the rail industry and the authorities flexibility and legal certainty in the current circumstances. Both legal acts are part of the transport emergency package presented by the Commission on 29 April 2020. |
Banking & Finance |
COVID-19 is placing unprecedented challenges on EU banks |
The European Banking Authority (EBA) published today a preliminary assessment of the impact of COVID-19 on the EU banking sector. With the global economy facing unprecedented challenges, banks entered the health crisis with strong capital and liquidity buffers and managed the pressure on operational capacities activating their contingency plans. The crisis is expected to affect asset quality and, thus, profitability of banks going forward. Nonetheless, the capital accumulated by banks during the past years along with the capital relief provided by regulators amounts on average to 5p.p. above their overall capital requirements (OCR). This capital buffer should allow banks to withstand the potential credit risk losses derived from a sensitivity analysis based on the 2018 stress test. |
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20/05/2020 |
Employment |
Wordt de opzeggingstermijn tijdens tijdelijke werkloosheid wegens overmacht door COVID-19 binnenkort retroactief geschorst? |
De Commissie Sociale Zaken besliste op 13 mei 2020 in tweede lezing om de opzeggingstermijnen betekend door de werkgever voor of tijdens de periode van tijdelijke werkloosheid wegens overmacht ingevolge de COVID-19-crisis, retroactief te schorsen. Volgens dat voorstel zou vanaf 1 maart 2020 de opzeggingstermijn die de werkgever betekent tijdens de periode van tijdelijke werkloosheid wegens COVID-19-overmacht, worden geschorst. Het wetsvoorstel wordt vandaag, woensdag 20 mei 2020, besproken in de plenaire vergadering van het parlement.
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Banking & Finance |
ESMA calls for transparency on COVID-19 effects in half-yearly financial reports |
ESMA has published a Public Statement addressing the implications of the COVID-19 pandemic on the half-yearly financial reports of listed issuers. In particular, this Statement addresses the preparation of the interim financial statements according to IFRS and the interim management reports for the 2020 half-yearly reporting periods. In its Public Statement, ESMA provides recommendations and highlights:
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Regulatory - Environment |
Tax & Social Security |
State aid and Support Measures |
Real Estate |
19/05/2020 |
State aid and Support Measures |
COVID-19: Council adopts temporary support to mitigate unemployment risks in an emergency (SURE) |
The Council today adopted SURE, a temporary scheme which can provide up to €100 billion of loans under favourable terms to member states. The instrument enables member states to request EU financial support to help finance the sudden and severe increases of national public expenditure, as from 1 February 2020, related to national short-time work schemes and similar measures, including for self-employed persons, or to some health-related measures, in particular at the work place in response to the crisis. SURE is one of the three safety nets, worth €540 billion, for jobs and workers, businesses and member states, contained in the Eurogroup report agreed on 9 April 2020. EU leaders endorsed the report on 23 April and called for the package to be operational by 1 June 20. |
Tax & Social Security |
Opinion no. 39 of the supplementary pensions commission on the draft royal decree on the maintenance of the accrual of retirement pension and of insurance coverage during temporary unemployment as a result of COVID-19 |
The Supplementary Pensions Commission has analysed the draft Royal Decree on the maintenance of the accrual of retirement pension and of insurance coverage linked to the occupational activities of salaried workers during temporary unemployment as a result of COVID-19 and the accompanying report to the King. The result of this analysis is set out in the Commission’s Opnion No. 39 (available in French or Dutch only). The text of the draft Royal Decree has now been incorporated as Chapter 3 into the Law of 7 May 2020 containing exceptional measures taken in the context of the COVID-19 pandemic with respect to pensions, supplementary pensions and other supplementary social security benefits. |
Banking & Finance |
The ECB has published the results of the March 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets. The survey sets out the following findings:
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Change of Extraordinary RFR/EDA productions from weekly to two-weekly frequency | EIOPA will continue carrying out extraordinary calculations on two-weekly basis (instead of an weekly basis as previously carried out) to monitor the evolution of the relevant risk-free interest rate term structures and the symmetric adjustment to equity risk. EIOPA is publishing this information in order to support insurance and reinsurance undertakings in the monitoring of their solvency and financial position. | |
Regulatory - Environment |
18/05/2020 |
Financial services – Regulatory |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, notes the non-renewal of the emergency restrictions on short selling and similar transactions by the following national competent authorities (NCAs): Finanzmarktaufsicht (FMA) of Austria; Financial Securities and Markets Authority (FSMA) of Belgium; Autorité des Marchés Financiers (AMF) of France; Hellenic Capital Market Commission (HCMC) of Greece;and Comisión Nacional del Mercado de Valores (CNMV) of Spain. It also notes the early termination of the emergency restrictions by the Commissione Nazionale per le Società e la Borsa (CONSOB) of Italy, that was due to expire on 18 June 2020. ESMA has coordinated the recent emergency restrictions renewals and has contributed to this aligned action today. |
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The FSMA is well aware that the PCPs in training are subject to the regulations are obliged to pass a number of exams within a certain period. Some PCPs in training planned to take the recognized exams within the new system. The FSMA provides an extension of the term for taking the exams for the PCPs training affected by the corona crisis. As soon as there are concrete measures in this regard, the FSMA will communicate this. | ||
FSMA announces the suspension of the ban on creating or increasing net short positions |
On 18 March 2020, the FSMA imposed a ban on creating or increasing net short positions on shares admitted to trading on Belgian trading venues. The FSMA announces today that, as of 19 May 2020, this measure will be suspended. This exceptional measure was taken because the FSMA observed large price movements in the market. This high market volatility indicated that the market had difficulties in correctly valuing the impact of the COVID-19 crisis on the listed companies due to a lack of visibility and understanding at that time. The measure was aimed at preventing those conditions from deteriorating and potentially having adverse effects on the companies concerned and on market confidence in general. |
State aid and Support Measures |
Ministerieel besluit tot uitvoering van het besluit van de Vlaamse Regering van 20 maart 2020 tot toekenning van steun aan ondernemingen die verplicht moeten sluiten ten gevolge van de maatregelen genomen door de Nationale Veiligheidsraad vanaf 12 maart 2020 inzake het coronavirus | ||
State aid: Commission approves €903 million Belgian reinsurance scheme to support trade credit insurance market in coronavirus outbreak |
The European Commission approved a EUR 903m Belgian reinsurance scheme to support the trade credit insurance market in the context of the coronavirus outbreak. The Belgian scheme, with a total budget of EUR 903m, ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs. The Commission found that the scheme notified by Belgium is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state and the general principles set out in the temporary framework. Furthermore, the Commission found the scheme is in line with the short-term export-credit communication. On this basis, the Commission approved the measure under EU state aid rules. |
Employment |
Corona brings young people financial problems |
The corona crisis is causing financial problems for many Belgian families. Not only parents are very concerned about this, young people also strongly feel the impact of corona on their financial affairs. Through a study in collaboration with the research agency Indiville among a thousand young people between 16 and 30 years, Febelfin uncovers to what extent the corona crisis has consequences for the financial life of Belgian youth. About 45% of Belgian young people have financial problems due to the corona crisis. At 13%, these are even serious financial problems. There are various reasons for this (depending on the age of the young people surveyed), such as:
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Banking & Finance |
European insurers face increased risk exposures due to Covid-19, but market perceptions and imbalances remained at medium level |
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published its updated Risk Dashboard based on the fourth quarter 2019 Solvency II data. Despite the fact that some indicators used in this Risk Dashboard do not capture the latest market development in the context of Covid-19 outbreak, the expected deterioration of the relevant indicators reflecting all available information in a forward looking perspective has been considered in the assigned risk levels. This addresses the current situation of high uncertainty in the insurance market. The results show that the risk exposures of the European Union insurance sector increased as the outbreak of Covid-19 strongly affected the lives of all European citizens with disruptions in all financial sectors and economic activities. |
Regulatory - Environment |
Tax & Social Security |
15/05/2020 |
Financial services – Regulatory |
Newsletter: continuous training during the corona crisis |
Since 1 January 2020, intermediaries in the insurance sector have to obtain 15 additional training points. The training period goes from three year to one. The number of training points to be obtained has also been adjusted. The FSMA is well aware that the corona crisis has a major impact on the number of available training courses and the possibility to follow them. The FSMA is not blind to continuing education problems. She took initiatives now to extend the training periods on a regulatory level. As soon as there are concrete measures the FSMA will notify the sector. |
Regulatory - Environment |
State aid and Support Measures |
Besluit van de Vlaamse Regering tot regeling van bepaalde tijdelijke maatregelen met betrekking tot subsidies in het beleidsveld sport door de civiele noodsituatie met betrekking tot de volksgezondheid ingevolge het coronavirus COVID-19 / Arrêté du Gouvernement flamand instaurant certaines mesures temporaires relatives aux subventions dans le secteur politique des sports en raison de l'urgence civile en matière de santé publique due au coronavirus COVID-19 | ||
Besluit van de Vlaamse Regering tot wijziging van het besluit van de Vlaamse Regering van 5 februari 2016 houdende vaststelling van de werking en het beheer van het Financieringsinstrument voor de Vlaamse visserij- en aquacultuursector (FIVA) en de verrichtingen die voor steun in aanmerking komen / Arrêté du Gouvernement flamand modifiant l'arrêté du Gouvernement flamand du 5 février 2016 réglant le fonctionnement et la gestion de l'Instrument de Financement destiné au Secteur flamand de la Pêche et de l'Aquaculture (FIVA) et les opérations éligibles à l'aide | ||
Remarks by Mário Centeno following the Eurogroup videoconference of 15 May 2020 |
Pandemic Crisis Support is operational. This afternoon, the ESM Board of Governors formally confirmed eligibility of all euro area member states and made the instrument available with immediate effect. Member states are doing whatever is needed to get this pandemic under control. The ESM is ready to support them in that. The exceptional costs incurred with direct and indirect health care, cure and prevention expenses, can be covered by the mechanism. So the first safety net – for sovereigns – is now in place. The second safety net is for workers – the SURE programme. The Council has reached a political agreement on all aspects this morning. The SURE programme will become law in a few days, after formal procedures are completed. Member states are doing whatever is needed to protect workers, their jobs and their incomes during this pandemic. The SURE programme means that these efforts are backed up by European solidarity, in the form of cheap loans. The third and final safety net is for businesses - the EIB’s so-called Pan-European Guarantee. President Hoyer debriefed us on the progress made to define the main parameters of this scheme. Policy formulation always entails some political choices and trade-offs. The discussion today helped to clarify where we now stand, especially on issues of scope and risk management. I believe today we prepared the ground for an agreement by the EIB. I will remain closely involved in this file in the next few days. Once this is operationalised, countries can start contributing to the guarantee fund that constitutes the firepower of this instrument. |
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Décret modifiant le décret du 6 février 2004 réglant l'octroi d'une garantie aux petites, moyennes et grandes entreprises, en ce qui concerne la garantie COVID-19 (1) / Decreet tot wijziging van het decreet van 6 februari 2004 betreffende een waarborgregeling voor kleine, middelgrote en grote ondernemingen, wat betreft de COVID-19-waarborg (1) | ||
EIB backs EUR 3.4 billion COVID-19 health and business resilience, energy, transport and education investment |
The European Investment Bank today approved EUR 3.4 billion of new financing to support companies most affected by the COVID-19 pandemic and priority public health projects, alongside energy, transport, water and education projects across Europe and around the world.
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As part of its emergency support package to tackle the economic impact of the COVID-19 crisis, the EU is setting up a temporary instrument to help workers keep their jobs during the crisis. EU ambassadors today reached a political agreement on SURE, a temporary scheme which can provide up to €100 billion of loans under favourable terms to member states. The instrument will enable member states to request EU financial support to help finance the sudden and severe increases of national public expenditure, as from 1 February 2020, related to national short-time work schemes and similar measures, including for self-employed persons, or to some health-related measures, in particular at the work place in response to the crisis. SURE is one of the three safety nets, worth €540 billion, for jobs and workers, businesses and member states, agreed by the Eurogroup on 9 April 2020. EU leaders endorsed the agreement on 23 April and called for the package to be operational by 1 June 2020. |
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14/05/2020 |
Banking & Finance |
The General Board of the European Systemic Risk Board takes first set of actions to address the coronavirus emergency at its extraordinary meeting on 6 May 2020 |
At its extraordinary meeting on 6 May 2020, the General Board of the European Systemic Risk Board (ESRB) discussed a first set of actions in five priority areas identified to address the impact of the coronavirus (COVID-19) emergency on the financial system from a macroprudential perspective. These actions are guided by two overarching principles. First is to achieve an effective policy response across sectors and across countries, and, at the same time, ensure that necessary national macroprudential actions do not cause negative spillovers and negatively affect the EU’s Single Market and the level playing field. The second principle is to make use of the flexibility provided within existing regulatory standards such as the capital relief for banks announced by European banking supervision1. This aims to enable financial institutions to continue providing vital financial services to the real economy, and to ensure that adequate capital and liquidity resources are available where needed within the financial system. |
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Loi du 25 avril 2014 relative au statut et au contrôle des établissements de crédit et des sociétés de bourse (coordination officieuse : 05/2020) |
Law project adopted, not yet published in the Official Gazette. |
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ESMA supports esrb actions to address covid-related systemic vulnerabilities |
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, has published a statement supporting the recommendations issued by the General Board of the European Systemic Risk Board (ESRB). These recommendations are part of a set of actions to address the Coronavirus emergency from a macroprudential perspective.
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Regulatory - Environment |
Tax & Social Security |
Real Estate |
Employment |
13/05/2020 |
State aid and Support Measures |
Regulatory - Environment |
Banking & Finance |
ESMA highlights challenges for rating collateralised loan obligations |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a Thematic Report on Collateralised Loan Obligations (CLOs) credit ratings in the European Union (EU). The report provides an overview of CLO rating practices and identifies the main supervisory concerns, and medium-term risks, in this asset class which include credit rating agencies’ (CRAs) internal organisation, their interactions with CLO issuers, operational risks, commercial influence on the rating process and the need for proper analysis of CLOs. |
Real Estate |
Tax & Social Security |
12/05/2020 |
Financial services – Regulatory |
COVID-19: verstrekkers van beleggingsdiensten krijgen uitstel tot 1 september 2020 om de MiFID -cartografiegegevens in te voeren |
Elk jaar moeten de ondernemingen die onderworpen zijn aan de MiFID-reglementering de FSMA tegen 30 juni gegevens bezorgen voor haar risicomodel inzake gedragsregels. De FSMA is er zich van bewust dat het moeilijk kan zijn om de gevraagde gegevens in te zamelen tijdens de lockdown die is opgelegd door de Regering, en ongetwijfeld ook nog enige tijd nadat de coronamaatregelen versoepeld zijn. Zij zal dan ook niet optreden tegen ondernemingen die haar deze gegevens niet voor 1 september 2020 hebben bezorgd. Bijgevolg krijgen de ondernemingen dit jaar als uitzonderingsmaatregel uitstel tot 1 september 2020 om hun MiFID-cartografiegegevens in te voeren. |
Stade aid and Asupport Measures |
State aid: Commission approves €25 million Belgian aid scheme to support coronavirus related research and development activities in Wallonia |
The European Commission has approved a €25 million Belgian aid scheme to support coronavirus related research and development in Wallonia. The scheme was approved under the State aid Temporary Framework. In particular, the aid will cover 80% of the relevant R&D costs for SMEs, and 60% for large enterprises. Furthermore, any results of the research activities will be made available to third parties in the EEA through non-exclusive licences. |
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11/05/2020 |
Employment |
Het herstel van de Belgische economie komt heel moeizaam op gang en tot 180 000 tijdelijk werklozen kunnen op korte termijn hun job verliezen |
Volgens de vorige week gehouden ERMG-enquête is, aan het begin van de eerste belangrijke exitfase, het door de Belgische ondernemingen gerapporteerd gemiddeld omzetverlies slechts licht verbeterd. Hoewel het uiteraard nog vroeg is om nu reeds de gedeeltelijke heropstart van de economie te evalueren, blijven de respondenten in sterke mate wijzen op de zwakke vraag die het herstel remt. In dat verband geven de ondernemingen ook aan van plan te zijn ongeveer één op vijf van de tijdelijk werklozen te ontslaan. Dit betekent dat tot 180 000 werknemers hun baan kunnen verliezen. |
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10/05/2020 |
Regulatory - Environment |
8/05/2020 |
Regulatory - Environment |
State aid and Support Measures |
COVID-19: Council agrees its positions on transport relief measures |
The EU is working on a set of urgent measures to help companies and authorities in the aviation, rail, road and shipping sectors to weather the impact of the coronavirus crisis. Today, member states’ ambassadors approved a mandate for the presidency to negotiate with the European Parliament four legislative proposals designed to provide flexibility, ease the administrative burden and reduce financial costs for transport businesses. |
Financial services – Regulatory |
Letter to EFRAG on IASB Exposure Draft COVID-19 Related Rent Concessions |
ESMA has contributed to the European Financial Reporting Advisory Group’s (EFRAG) due process regarding the draft comment letter on the IASB’s Exposure Draft ED/2020/2 Covid-19 Related Rent Concessions with the aim of improving the consistent application and enforceability of IFRS. Like EFRAG, ESMA very much welcomes the initiative of the IASB to introduce a practical expedient that may provide relief for lessees in accounting for rent concessions granted by lessors in the very specific circumstances of the COVID-19 pandemic. More specifically, ESMA agrees with the proposal that a lessee should be allowed to elect not to assess whether a COVID-19 related rent concession is a lease modification or not and therefore be allowed, generally, to account for the effects of such concessions of lease payments in profit or loss. ESMA agrees that in the current circumstances such proposal would provide a practical relief to entities whilst still ensuring that users of financial information continue to have useful information on preparers’ leases. |
Employment |
Tax & Social Security |
Real Estate |
7/05/2020 |
Banking & Finance |
NBB Circular integrates EBA Guidelines on legislative and non-legislative moratoria on loan repayments applied due to the COVID-19 pandemic |
In this Circular, the NBB has integrated into its supervisory practice the EBA guidelines of 25 March on regulatory and supervisory measures on non-statutory moratoria for payment obligations on loans applied in the light of the COVID-19 crisis (EBA/GL/2020/02). The purpose of these guidelines is to provide additional information and coherence on the prudential effects on exposures subject to a moratorium in the context of COVID-19. To this end, the guidelines:
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Regulatory - Environment |
State aid and Support Measures |
Employment |
Tax & Social Security |
Corporate & M&A |
6/05/2020 |
Regulatory - Environment |
Spring 2020 Economic Forecast: A deep and uneven recession, an uncertain recovery |
The coronavirus pandemic represents a major shock for the global and EU economies, with very severe socio-economic consequences. Despite the swift and comprehensive policy response at both EU and national level, the EU economy will experience a recession of historic proportions this year. The Spring 2020 Economic Forecast projects that the euro area economy will contract by a record 7¾% in 2020 and grow by 6¼% in 2021. The EU economy is forecast to contract by 7½% in 2020 and grow by around 6% in 2021. Growth projections for the EU and euro area have been revised down by around nine percentage points compared to the Autumn 2019 Economic Forecast. |
Financial services – Regulatory |
ESMA reminds firms of conduct of business obligations under MiFID II |
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is issuing a Public Statement on the risks for retail investors when trading under the highly uncertain market circumstances due to the COVID-19 pandemic. ESMA also reminds investment firms of the key conduct of business obligations under MiFID when providing services to retail investors. |
Tax & Social Security |
5/05/2020 |
State aid and support measures |
State aid: Commission approves Belgian €250 million subordinated loan scheme to support start-ups, scale-ups and SMEs affected by the coronavirus outbreak |
The European Commission has approved a Belgian scheme of €250 million, financed by the Flemish region, to support companies in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020.
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Regulatory - Environment |
Q&A on the effects of the coronacrisis on additional pensions | The FSMA has published a Q&A regarding the consequences of the COVID-19 pandemic on supplementary pensions and the death cover attached to it. Where relevant, the measures taken by the government are also explained. | |
Tax and Social Security |
4/05/2020 |
Regulatory - Environment |
Financial services – Regulatory |
Joint RTS on amendments to the bilateral margin requirements under EMIR in response to the COVID-19 outbreak |
The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS) to amend the Delegated Regulation on the risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining), under the European Markets Infrastructure Regulation (EMIR), to incorporate a one-year deferral of the two implementation phases of the bilateral margining requirements. |
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Joint RTS on amendments to the bilateral margin requirements under EMIR in response to the COVID-19 outbreak | The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS) to amend the Delegated Regulation on the risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining), under the European Markets Infrastructure Regulation (EMIR), to incorporate a one-year deferral of the two implementation phases of the bilateral margining requirements. | |
Joint RTS on amendments to the bilateral margin requirements under emir in response to the COVID-19 outbreak | The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs), in response to the COVID-19 outbreak have published joint draft Regulatory Technical Standards (RTS) to amend the Delegated Regulation on the risk mitigation techniques for non-centrally cleared OTC derivatives (bilateral margining), under the European Markets Infrastructure Regulation (EMIR), to incorporate a one-year deferral of the two implementation phases of the bilateral margining requirements. | |
Special instructions in response to the COVID-19 pandemic |
The Supervisory Board of Auditors wishes to underline or repeat the following points:
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Banking & Finance |
EBA publishes final draft technical standards on specific reporting requirements for market risk |
The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) on specific reporting requirements for market risk. These ITS introduce the first elements of the Fundamental Review of the Trading Book (FRTB) into the EU prudential framework by means of a reporting requirement. The ITS are expected to apply from September 2021. The specific reporting requirements for market risk include a thresholds template, providing insights into the size of institutions’ trading books and the volume of their business subject to market risk, and a summary template, reflecting the own funds requirements under the alternative standardised approach for market risk (MKR-ASA). At a later stage, and in line with the mandate of Article 430b of the amended Capital Requirements Regulation (CRR), these reporting requirements will be complemented with details on the own funds requirements under the MKR-ASA and the alternative internal model approach. |
State aid ans support measures |
Coronavirus Global Response: €7.4 billion raised for universal access to vaccines |
The Commission registered €7.4 billion, equivalent to $8 billion, in pledges from donors worldwide during the Coronavirus Global Response pledging event. This includes a pledge of €1.4 billion by the Commission. This almost reaches the initial target of €7.5 billion and is a solid starting point for the worldwide pledging marathon, which begins today. The aim is to gather significant funding to ensure the collaborative development and universal deployment of diagnostics, treatments and vaccines against coronavirus. |
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EIB Group outlines finance and advisory support for health in response to COVID-19 at global Pledging Conference | The European Investment Bank (EIB) Group today joined a global fundraising effort in the fight against the coronavirus. The European Union-led global Pledging Conference, co-chaired by the President of the European Commission Ursula von der Leyen and other world leaders, aims to raise an initial €7.5 billion to end this pandemic. | |
Real Estate |
Tax & Social Security |
2/05/2020 |
Regulatory - Environment |
1/05/2020 |
Regulatory - Environment |
WHO and EIB strengthen efforts to combat COVID-19 and build resilient health systems to face future pandemics |
The World Health Organization and the European Investment Bank will boost cooperation to strengthen public health, supply of essential equipment, training and hygiene investment in countries most vulnerable to the COVID-19 pandemic. The new partnership between the United Nations health agency and the world’s largest international public bank, announced at WHO headquarters in Geneva earlier today, will help increase resilience to reduce the health and social impact of future health emergencies. |
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30/04/2020 |
Tax & Social Security |
Regulatory - Environment |
Banking & Finance |
ECB recalibrates targeted lending operations to further support real economy |
The Governing Council of the European Central Bank (ECB) today decided on a number of modifications to the terms and conditions of its targeted longer-term refinancing operations (TLTRO III) in order to support further the provision of credit to households and firms in the face of the current economic disruption and heightened uncertainty.
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EIOPA revises its timetable for advice on Solvency II Review until end December 2020 |
EIOPA, in close coordination with the European Commission, has decided to deliver its advice to the European Commission at end December 2020, to take into account the importance of assessing the impact of the current Covid-19 situation on the Solvency II Review. The new timing will allow an update of the holistic impact assessment in view of the impact of the pandemic on the financial markets and insurance business and to take that impact into account in EIOPA’s advice. The new timing strikes a balance between the need to use the opportunity of reviewing the Solvency II directive and the need for the advice to reflect recent developments. |
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