Services to the financial sector
The central bank acts as the linchpin of the financial sector. Like most central banks, the National Bank has set up a number of services which it performs for credit institutions.
It organises interbank payments and manages a securities settlement system.
In addition, it exercises oversight over the payment and securities settlement systems established in Belgium.
These tasks acquired a European dimension with the introduction of the single currency, as one of the fundamental tasks of the Eurosystem is to promote the smooth operation of payment systems.
- The securities settlement system
The National Bank administers a settlement system for securities (formerly called Clearing), which ensures the secure handling of transactions in, predominantly, dematerialised securities (securities that only exist in the form of an entry on an account).
- Protection Fund for Deposits and Financial Instruments
In the event of the failure of a credit institution or investment firm, its customers receive partial compensation from a government institution, the "Protection Fund for Deposits and Financial Instruments".
- RECOUR
Recour is the current accounts application of the National Bank of Belgium. Recour is also the central settlement location of other payment and securities clearing systems.
- Issuance of dematerialised securities
- Dematerialisation of bearer securities
- TARGET2
TARGET2, short for Trans-European Automated Real-time Gross Settlement Express Transfer system, is the RTGS-system provided through the Eurosystem.
- CEC
The CEC is the Belgian automated interbank payment system for retail payments.
- Bond Center
For a fee, the Bond Centre provides a service which enables banks to present their customers’ securities and coupons for payment without first grouping them together by ISIN code or denomination.
- Exseco
Exseco (Exchange of Securities and Coupons) enables financial institutions to exchange securities and coupons with one another and with the National Bank.