RECOUR

RECOUR, the current account system of the National Bank, is used for the settlement of operations on the accounts of its customers.

It concerns payment orders within the framework of our mission as State Treasurer and other operations for the RECOUR customers.

Until the end of 2017 it also concerns the transactions within the framework of the compulsory reserve of credit institutions which have not yet migrated to TARGET2-BE. As from 2018 it will be mandatory for all credit institutions with compulsory reserves to use an account on the TARGET2-BE platform.

Within the scope of the migration towards TARGET2, the settlement of the balances of the retail payments system (CEC) no longer takes place in RECOUR, but on the accounts of the participants in TARGET2-BE.

Since March 2016 the cash leg of the transactions in the securities settlement system of NBB (NBB-SSS) is no longer settled in RECOUR, but on specific cash accounts on the T2S Platform.

Similarly the cash leg of the NYSE/Euronext Brussels exchange trades and the cash leg of the over-the-counter transactions handled by Euroclear Belgium are settled on the T2S platform since September 2016.