Communication NBB_2022_23 / New governance manual for the banking sector (+ annex manual)
The National Bank of Belgium has revised its governance manual for the banking sector to reflect the entry into force of the Companies and Associations Code, the new guidelines of the European Banking Authority on sound governance, and the legal and regulatory developments that have occurred since 2018.
The main changes relate to:
(i) the integration of new prudential expectations in relation to suitability, diversity and environmental and climate risk management;
(ii) clarifying the interrelationship between governance and the fight against money laundering and terrorist financing,
(iii) developing expectations on risk culture (including the management of conflicts of interest);
(iv) strengthening ICT security expectations; and
(v) formalising governance expectations at a group level.
The new manual is available on the Bank’s website.