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The Regulation and Supervision of the Belgian Financial System (1830 - 2005)

Author

Listed:
  • Erik Buyst

    (University of Leuven)

  • Ivo Maes

    (National Bank of Belgium, Robert Triffin Chair, Universite catholique de Louvain, and University of Leuven.)

Abstract

This paper provides an overview of the regulation and supervision of the Belgian financial system from the creation of Belgium in 1830 to the early 21st century. After severe crises, the National Bank of Belgium was created in 1850. The Great Depression led to further reforms, increasing the role of the government, especially through the establishment of the Banking Commission. In the post-war period, reforms were driven by changes in the financial landscape, especially an increasing role for market forces. In line with the despecialisation process, the responsibilities of the Banking Commission were gradually extended, becoming, in 2004, the Banking, Finance and Insurance Commission. Moreover, at the turn of the millennium, the role of the NBB in financial stability matters was enhanced.

Suggested Citation

  • Erik Buyst & Ivo Maes, 2008. "The Regulation and Supervision of the Belgian Financial System (1830 - 2005)," Working Papers 77, Bank of Greece.
    • Handle: RePEc:bog:wpaper:77
    as

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    References listed on IDEAS

    as
    1. Isabelle Cassiers & Valérie de Briey & Florence Degavre & Anne-Catherine Provost, 1998. "Les banques belges face à l'État : une rétrospective (1935-1993)," Revue d'Économie Financière, Programme National Persée, vol. 48(4), pages 125-155.
    2. Jean-Paul Abraham, 1990. "The Process of Change in Belgian Banking," Palgrave Macmillan Books, in: Edward P. M. Gardener (ed.), The Future of Financial Systems and Services, chapter 3, pages 36-50, Palgrave Macmillan.
    3. Buyst, Erik & Maes, Ivo, 2008. "Central banking in nineteenth-century Belgium: was the NBB a lender of last resort?," Financial History Review, Cambridge University Press, vol. 15(2), pages 153-173, October.
    4. Oosterloo, Sander & de Haan, Jakob, 2004. "Central banks and financial stability: a survey," Journal of Financial Stability, Elsevier, vol. 1(2), pages 257-273, December.
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    Cited by:

    1. Apostolides, Alexander, 2008. "“How Similar to South-Eastern Europe were the Islands of Cyprus and Malta in terms of Agricultural Output and Credit? Evidence during the Interwar Period”," MPRA Paper 9968, University Library of Munich, Germany.
    2. Roumen Avramov & Dragana Gnjatovic, 2008. "Stabilization Policies in Bulgaria and Yugoslavia During Communism's Terminal Years : 1980s Economic Visions in Retrospect," Working Papers 81, Bank of Greece.
    3. Sophia Lazaretou, 2008. "Banking and Central Banking in Pre-WWII Grecce: Money and Currency Developments," Working Papers 86, Bank of Greece.
    4. Stephan Barisitz, 2008. "Banking Transformation (1989 - 2006) in Central and Eastern Europe - With Special Reference to Balkans," Working Papers 78, Bank of Greece.
    5. Dimitrios Sideris, 2011. "Optimum currency areas, structural changes and the endogeneity of the OCA criteria: evidence from six new EU member states," Applied Financial Economics, Taylor & Francis Journals, vol. 21(4), pages 195-206.
    6. Yuksel Gormez, 2008. "Banking in Turkey: History and Evolution," Working Papers 83, Bank of Greece.
    7. Milan Sojic & Ljiljana Djurdjevic, 2008. "Monetary Policy Objectives and Istruments used by the Privileged National Bank of the Kingdom of Serbia (1884 - 1914)," Working Papers 87, Bank of Greece.
    8. Zarko Lazarevic, 2008. "Banking Performance in South-Eastern Europe During the Interwar Period," Working Papers 79, Bank of Greece.

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    More about this item

    Keywords

    Financial regulation; Financial supervision; Belgium;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
    • N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-

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