The Belgian Banking Commission (French: Commission bancaire) was a Belgian financial supervisory authority created in 1935 in the aftermath of the financial turmoil of the early 1930s. It was later renamed CBF in 1990 (French: Commission bancaire et financière, Dutch: Commissie voor het Bank- en Financiewezen), then CBFA in 2004 (French: Commission Bancaire, Financière et des Assurances, Dutch: Commissie voor het Bank-, Financie- en Assurantiewezen).
Building at rue du Congrès 12-14 in Brussels, seat of the Banking Commission from June 2004 after having moved from its previous address at Avenue Louise 99;[1][2] previously head office of Kredietbank-Congo (1952-1966)
As with most Belgian financial institutions, the Commission was generally referred to by its French name in its first decades of existence, including in English-speaking contexts. As Belgian linguistic practices and sensitivities evolved in the postwar period, more emphasis was gradually placed on parity of status between French and Dutch. The acronyms CBF and CBFA were specifically construed so as to be identical in the two languages.
Commission bancaireedit
The Banking Commission was established in 1935, at the time one of the first independent banking supervisory agencies in the world - in other countries, to the extent that banking supervision existed at all, it was exercised either by a specialized office in the ministry of finance, or by an arm of the central bank. Under the German occupation of Belgium during World War II, a separate German-run Office of Banking Control operated in parallel with the Banking Commission, which was deprived of any authority over German banks operating in Belgium.[4]: 138
The mandate of the Commission was gradually broadened to control of mutual funds, then corporate securities offerings in 1964, holding companies in 1967, and private savings banks in 1975.[5]
CBFedit
In 1990, the Banking Commission was renamed CBF (French: Commission bancaire et financière, Dutch: Commissie voor het Bank- en Financiewezen) as its duties were extended to more non-bank market segments.[3]: 5
CBFAedit
Logo of the CBFA
The CBFA was formed in 2004 by the merger of the CBF with Belgium's insurance supervisory authority OCA-CDV (French: Office de Contrôle des Assurances, Dutch: Controledienst voor de Verzekeringen), which had been created in 1975.
2011 reformedit
The crisis experience with Fortis Group and Dexia in 2008 led to the demise of the CBFA and a reform of financial supervisory architecture, enshrined in legislation of 2 July 2010.[6] As a result, Belgium adopted the so-called Twin Peaks model in which prudential supervision of banks and insurers is separated from the conduct-of-business supervision of a range of financial professionals, firms and markets.[3]: 5 On 1 April 2011, the CBFA's former prudential mandate went to the National Bank of Belgium, while its conduct-of-business supervisory duties went to the Financial Services and Markets Authority (FSMA).[7]
^Procès-verbal de la quatre-vingt-quatrième séance du comité des gouverneurs des banques centrales des États membres de la Communauté économique européenne tenue à Washington, le lundi 30 septembre 1974 à 15 heures(PDF)
^ abcThibaud Giddey (2017), "Formation et spécificités historiques de la Commission bancaire (1935-1975)", Courrier hebdomadaire du CRISP, 2357–2358: 5–54
^Federal Reserve Board (June 1944), Army Service Forces Manual M361-5 / Civil Affairs Handbook Belgium Section 5: Money and Banking, Washington DC: U.S. Army Service Forces
^Thibaud Giddey (2017), "Évolution de la pratique de la Commission bancaire (1935-1975)", Courrier hebdomadaire du CRISP, 2359–2360: 5–58
^"About FMSA - Powers". FMSA. Retrieved June 18, 2011.
^Simon Danaher (April 12, 2011). "Belgium restructures financial regulation". International Advisor.[permanent dead link]
External linksedit
Prudential Supervision, National Bank of Belgium website
Financial Services and Markets Authority
This Belgium-related article is a stub. You can help Wikipedia by expanding it.
belgian, banking, commission, french, commission, bancaire, belgian, financial, supervisory, authority, created, 1935, aftermath, financial, turmoil, early, 1930s, later, renamed, 1990, french, commission, bancaire, financière, dutch, commissie, voor, bank, fi. The Belgian Banking Commission French Commission bancaire was a Belgian financial supervisory authority created in 1935 in the aftermath of the financial turmoil of the early 1930s It was later renamed CBF in 1990 French Commission bancaire et financiere Dutch Commissie voor het Bank en Financiewezen then CBFA in 2004 French Commission Bancaire Financiere et des Assurances Dutch Commissie voor het Bank Financie en Assurantiewezen Building at rue du Congres 12 14 in Brussels seat of the Banking Commission from June 2004 after having moved from its previous address at Avenue Louise 99 1 2 previously head office of Kredietbank Congo 1952 1966 The Commission s existence ended in 2011 with its duties were shared between the National Bank of Belgium and the newly established Financial Services and Markets Authority 3 Contents 1 Naming 2 Commission bancaire 3 CBF 4 CBFA 5 2011 reform 6 See also 7 References 8 External linksNaming editAs with most Belgian financial institutions the Commission was generally referred to by its French name in its first decades of existence including in English speaking contexts As Belgian linguistic practices and sensitivities evolved in the postwar period more emphasis was gradually placed on parity of status between French and Dutch The acronyms CBF and CBFA were specifically construed so as to be identical in the two languages Commission bancaire editThe Banking Commission was established in 1935 at the time one of the first independent banking supervisory agencies in the world in other countries to the extent that banking supervision existed at all it was exercised either by a specialized office in the ministry of finance or by an arm of the central bank Under the German occupation of Belgium during World War II a separate German run Office of Banking Control operated in parallel with the Banking Commission which was deprived of any authority over German banks operating in Belgium 4 138 The mandate of the Commission was gradually broadened to control of mutual funds then corporate securities offerings in 1964 holding companies in 1967 and private savings banks in 1975 5 CBF editIn 1990 the Banking Commission was renamed CBF French Commission bancaire et financiere Dutch Commissie voor het Bank en Financiewezen as its duties were extended to more non bank market segments 3 5 CBFA edit nbsp Logo of the CBFAThe CBFA was formed in 2004 by the merger of the CBF with Belgium s insurance supervisory authority OCA CDV French Office de Controle des Assurances Dutch Controledienst voor de Verzekeringen which had been created in 1975 2011 reform editThe crisis experience with Fortis Group and Dexia in 2008 led to the demise of the CBFA and a reform of financial supervisory architecture enshrined in legislation of 2 July 2010 6 As a result Belgium adopted the so called Twin Peaks model in which prudential supervision of banks and insurers is separated from the conduct of business supervision of a range of financial professionals firms and markets 3 5 On 1 April 2011 the CBFA s former prudential mandate went to the National Bank of Belgium while its conduct of business supervisory duties went to the Financial Services and Markets Authority FSMA 7 See also editEconomy of Belgium National Bank of Belgium Securities Commission List of financial regulatory authorities by jurisdictionReferences edit Rue du Congres n 10 12 14 16 ReflexCity Proces verbal de la quatre vingt quatrieme seance du comite des gouverneurs des banques centrales des Etats membres de la Communaute economique europeenne tenue a Washington le lundi 30 septembre 1974 a 15 heures PDF a b c Thibaud Giddey 2017 Formation et specificites historiques de la Commission bancaire 1935 1975 Courrier hebdomadaire du CRISP 2357 2358 5 54 Federal Reserve Board June 1944 Army Service Forces Manual M361 5 Civil Affairs Handbook Belgium Section 5 Money and Banking Washington DC U S Army Service Forces Thibaud Giddey 2017 Evolution de la pratique de la Commission bancaire 1935 1975 Courrier hebdomadaire du CRISP 2359 2360 5 58 About FMSA Powers FMSA Retrieved June 18 2011 Simon Danaher April 12 2011 Belgium restructures financial regulation International Advisor permanent dead link External links editPrudential Supervision National Bank of Belgium website Financial Services and Markets Authority nbsp This Belgium related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Belgian Banking Commission amp oldid 1190241916, wikipedia, wiki, book, books, library,
