Financial Sector Continuity
The national plan for BCP for critical players in the financial sector aims to strengthen the resilience of the Belgian financial system events likely to affect the operational continuity.
The National Bank of Belgium is the sectoral authority and the inspection service referred to respectively in Articles 3 and 24 of the Law on the security and protection of critical infrastructures (Law of 1 July 2011) for the financial services sector.
Security measures, such as continuity policies, business continuity plans (commonly known as BCP) and physical and logical security plans, which companies are required to set up under the applicable prudential supervision status and/or as part of the Bank’s oversight of them, are similar to the management security plan (plan de sécurité de l’exploitant or P.S.E.) and may be considered as such by the Bank, in its capacity as inspector.
The Bank reports regularly back to the Ministry of Finance on the tasks it carries our under this legislation. But, in the event of an imminent and genuine threat to any critical infrastructure in the banking and finance sector, the Bank informs the Ministry immediately.