ECB Governing Council Decisions: Collateral and Macroprudential Updates (July 2026)
On 24 July 2026 the National Bank of Belgium published the ECB Governing Council's July 2026 decisions taken in addition to interest rate decisions. They include the permanent integration of non-financial corporate credit claims into the Eurosystem general collateral framework, the reclassification of financial subsidiaries of non-financial corporate issuer groups, and the extension of climate factors to NFC credit claims. The Governing Council also adopted Guideline ECB/2026/17 on the enhanced Eurosystem repo facility (EUREP) and published a statement on macroprudential policies.
Related updates
ECB raises interest rates
On 10 September 2026, the ECB Governing Council decided to raise its three key interest rates by 25 basis points, effective 16 September 2026. The deposit facility rate was raised to 2.50%, the main refinancing operations rate to 2.65% and the marginal lending facility to 2.90%. The decision is relevant to the broader financial and prudential environment, particularly interest-rate, funding and liquidity risk, but does not introduce new compliance obligations.
10 Sep 2026
NBB Governor discusses Europe’s low-risk model and regulatory challenges
The NBB published an analysis by Governor Pierre Wunsch and economist Geert Langenus on Europe’s economic model and its ability to adapt to a changing global environment. The authors discuss Europe’s risk-averse approach, regulatory burden, technological competitiveness and strategic autonomy. They argue that Europe faces difficult trade-offs between regulation, growth, competitiveness, climate objectives and strategic autonomy. The publication does not introduce new compliance requirements but provides a broader policy perspective on the future direction of European economic and regulatory policy.
05 Sep 2026
Belgian economy expected to grow by 0.3% in Q3 2026
The National Bank of Belgium's Business Cycle Monitor projects a rebound in Belgian GDP growth to 0.3% in Q3 2026, with nowcasting models indicating a range of 0.3% to 0.6%. Domestic demand is expected to edge up, driven by resilient household consumption and a moderate recovery in business investment, while net exports' contribution is likely to be neutral. Risks are assessed as broadly balanced.
09 Sep 2026