Archive publications
Supervision & policy
Jaarverslag
Annual report Febelfin 2025
2025 was a pivotal year in which the financial sector reaffirmed, more than ever, its role as a reliable partner to the economy. Febelfin remained committed to fostering a competitive, sustainable and inclusive financial sector, in close dialogue with policymakers and stakeholders. This annual report provides an overview of the priorities, actions and commitments that are preparing the sector for the challenges of tomorrow.
Position paper
For an ambitious Savings and Investment Union
Febelfin and the Federation of Enterprises in Belgium (FEB/VBO) call on Belgium, and by extension all members of the European Council, to take decisive action to deliver a Savings and Investments Union, as proposed in the Draghi Report.
Position paper
Position paper: Digital Fairness Act
The DFA is a horizontal initiative to strengthen fairness and transparency in the digital environment. Febelfin supports the objective of protecting consumers online and tackling practices such as deceptive interfaces. At the same time, we stress the need for coherence with existing EU rules to avoid overlaps, conflicting obligations and legal uncertainty. All our concerns and recommendations are set out in our submission.
Position paper
Position paper: FiDA proposal
FiDA, the Financial Data Access framework, is a proposal for a European regulation. With this proposal, the European Commission aims to establish clear rights and obligations regarding the sharing of customer data in the financial sector, also beyond payment accounts. FiDA should enable Open Finance in a far-reaching way and promote the data economy. Febelfin sees clear advantages in Open Finance as a concept, but sees major risks in the way FiDA wants to open up customer data. All our concerns and recommendations can be found in our position paper.
Position paper
EBA Consultation on proposed Regulatory Technical Standards in the context of new AMLA mandates
This document outlines Febelfin’s reply to the EBA’s consultation on the proposed Regulatory Technical Standards (RTS), in response to the European Commission’s request regarding new AMLA mandates. It reflects the Belgian financial sector’s recommendations on future EU anti-money laundering requirements.
Opinion
Opinion Geert Gielens: Capital market elephants
In this opinion, Geert Gielens, Chief Economist Febelfin, explains why it is right and absolutely necessary to make the capital markets in Europe work better, together with policies aimed at not only making the whole supply side of the economy work better, but also promoting financial education so that investors also have the necessary knowledge.
Position paper
Febelfin position on the Capital Markets Union
In this paper, the Belgian Financial industry shares its vision on how to achieve stronger European capital markets for the benefit of citizens, companies and Member States alike. The political momentum that we see today – reflected in recent reports and statements - should be leveraged to the greatest possible extent.
Position paper
Febelfin position on the Late Payment Regulation
The Belgian financial industry welcomes the Late Payment Regulation and supports the goal of the Commission to combat late payments but has, in this respect, some practical remarks concerning the financing of corporates in the EU.
Position paper
ESMA consultation on shortening of the settlement cycle
In light of, among other things, the announced shortening of the settlement cycle of securities in the US and Canada from the end of May 2024 and of recent technological developments, the European Securities and Markets Authority (ESMA) is organizing a consultation on the consequences for the European financial markets of the shortening of the settlement cycle in other jurisdictions, as well as on a possible shortening of the settlement cycle in Europe from T+2 (current situation) to T+1 or even T+0. In this document, Febelfin presents the vision of the Belgian financial sector.
Position paper
Political memorandum: The financial sector, a partner for the future (short version)
In this memorandum (short version), Febelfin makes a number of proposals for concrete and necessary cooperation between the Belgian financial sector and the various levels of government in Belgium.
Position paper
Political memorandum: The financial sector, a partner for the future
More than ever, the public and private sectors must work together for a sustainable future. In this memorandum, Febelfin makes a number of proposals for concrete and necessary cooperation between the Belgian financial sector and the various levels of government in Belgium.
Position paper
Retail Investement Strategy (RIS)
In May 2023, the Commission proposed the Retail Investment Strategy. With this proposal, EU lawmakers aim to improve retail investor participation in capital markets while safeguarding the highest levels of consumer protection. The Belgian financial industry is a strong supporter of these goals and has given its feedback on the proposal. Febelfin believes that the expertise of the Belgian financial industry can support lawmakers in developing well-balanced and effective measures to achieve these goals.
Opinion
Banking: a complex system that needs nuance instead of populism
The debate on the minimum interest rate on savings accounts has dominated the public and political debate for several days now. Understandable, everyone would like to receive a little more interest on their savings. This would be a nice bonus, especially in a period of high inflation in which life has become more expensive. Read the opinion of Karel Baert, CEO of Febelfin.
Position paper
Belgium at the helm: Financial recommendations for the Belgian presidency in 2024
In the run-up to 2024, Febelfin is publishing its recommendations for the Belgian presidency. With this document, the financial sector hopes to make its priorities known, and share its knowledge around specific technical files. Moreover, we submit some suggestions to raise the quality of European legislation.
Position paper
Position paper: Consumer Credit Directive Review & draft Imco
In 2021, the Commission published a proposal to revise the current Consumer Credit Directive (CCD). This directive harmonises European rules on consumer credit, which are loans for the purchase of consumer goods and services. Febelfin is in favor of a guideline that enables consumers to make well-considered financial choices, while at the same time allowing them to realize their projects.
Position paper
Position: European Banking Package
In these position papers, Febelfin explains its position in the context of the Banking Package. With the Banking Package, the European Commission is trying to implement the Basel III rules at European level. Within this package, the rules on capital requirements will be revised.
Position paper
Position: Interest Rate Risks for the Banking Book (IRRBB) en CSRBB Credit Spread Risk in the Banking Book (CSRBB)
The European Banking Authority's work on interest rate risk for the banking book (IRRBB) and credit spread risk from non-trading book activities (CSRBB) takes a closer look at the technical aspects of managing/monitoring interest rate risk.
Position paper
Position: AML Package
In July 2021, the Commission published the AML Package. This package should serve to strengthen the rules on combating money laundering and terrorist financing (called AML/CFT rules: Anti-money laundering/ countering the financing of terrorism). Febelfin believes that it is essential to develop a pragmatic approach based on an effective exchange of information to mitigate the risks of money laundering and detect financial crime.
Position paper
Position: De 'European Digital Identity'
In 2021, the commission came up with a proposal for a European digital identity. This proposed framework lays the foundations for a system that citizens and businesses can use across the EU. The financial sector advocates a secure platform that can be widely used.
Position paper
Febelfin position: revision PSD 2
PSD2 (Payment Services Directive II) has been regulating the payment traffic of consumers and companies in the EU since 2019. This directive ensured better protection of payment transactions. This guideline is now being revised. Read our views.
Opinion
Opinion: Febelfin & Assuralia on the introduction of European legislation on sustainability preferences in investments and purchases of financial products
Opinion piece by the CEOs of Febelfin and Assuralia in response to the introduction of the MiFID legislation and the request for sustainability preferences.