It applies to all Belgian credit institutions and to foreign credit institutions, regardless of whether they carry on their activities in Belgium through a subsidiary, a branch or the cross-border supply of banking services. In the event of a negative decision by the CBF, the bank concerned can appeal to the Minister of Finance, whose decision can also be appealed against under common law before the Council of State. Private sector credit institutions are free to choose under which heading they are listed. The only nuance relates to the terms 'savings institution' or 'savings bank' and the term 'securities bank', which may be used solely by credit institutions which have opted to register under this heading. The Belgian banking system traditionally occupies an important place.
Intermediation provides substantial added value for a large number of companies and investors.
Banks can rely on their big assets in the field of information and risk management. Moreover, the strong presence of small and medium-sized enterprises is typical for the Belgian industry. For companies such as these, seeking their financing funds directly in the financial markets is not an obvious option. These last 15 years, the process of deregulation and the reforms have had a deep impact on the working of the Belgian financial system. Reorganisation and modernisation of the markets are the keywords.