Pension savings funds and dollar cost averaging: a long-term study
This article investigates various strategies for investing the yearly fiscal limit into an individual pension savings fund. Multiple common investment approaches are evaluated.
RBF digital
Below is a list of articles from the Banking and Finance magazine.
Are holdings hidden treasures in the Belgian stock market?
This article provides an analysis on the undervaluation of Belgian Holdings and its determinants.
The low-risk anomaly in large emerging markets
The Capital Asset Pricing Model (CAPM) assumes a positive risk-return relationship. This positive risk- return relationship has been questioned and rejected in literature due to the existence of other persistent factor premia.
Green monetary policy: analysing the impact of ECB green policy announcements on the performance of green bonds
This article examines how the European Central Bank's (ECB) green policy announcements impact the performance of green bonds, focusing on five green ECB speeches.
Distributieve statistieken voor het vermogen van de Belgische huishoudens in het kader van de nationale financiële rekeningen
Since the beginning of this year, the ECB and the NBB have been publishing data on the distribution of household wealth: the distributional wealth accounts (DWA). These experimental statistics are based on the macro data from the National Accounts and on the micro data from the Household Finance and Consumption Survey.
Environmental and climate-related risks within the FMI landscape
In 2023, the NBB has asked a sample of financial market infrastructures, custodians, payment transaction processors and critical service providers to complete a questionnaire on climate-related risks. The answers showed that the institutions are aware of climate-related risks and that these risks are adequately embedded in the governance framework. However, ...
The impact of the sanctions against Russia and Russian countermeasures
Euroclear Bank played and continues to play an important role in the implementation of international sanctions against Russia. A large share of the assets affected by these sanctions were safeguarded and, following the imposition of the sanctions, effectively frozen or immobilised in the accounts of Euroclear Bank.
Introduction to the Digital Operational Resilience Act (DORA)
The Digital Operational Resilience Act (DORA) aims to enhance the digital resilience of the European financial sector by addressing ICT risks through comprehensive governance, incident management, resilience testing, third-party risk management, and awareness initiatives. Effective from January 2025, DORA targets a wide range of financial entities, ensuring harmonized and stringent ICT security measures across the EU.
The international cooperative oversight of Swift
Swift is a financial messaging services provider that is subject to central bank oversight because of its crucial global role in facilitating correspondent banking and financial market infrastructure operations. The article describes the set-up and focus areas of the international cooperative oversight arrangement for this central bank oversight and announces a planned update to this arrangement.
From policy to portfolio: an inquiry into the impact of monetary policy decisions and low interest rates on pension fund asset allocation
This study confronts micro-level data on asset allocation with low interest rates and monetary policy for a broad set of defined benefit pension funds in the United States. Findings indicate that funds increase their investments in equity assets and decrease their investments in fixed-income assets in response to interest rate reductions. Strikingly, the passive portfolio movements through mechanical return effects explain the most significant part of the observed change.
LIFE AFTER EQUITY CROWDFUNDING: analysing the financial performance of equity crowdfunded firms in Belgium, using a matched sample
This article examines the impact of equity crowdfunding on small business performance, focusing on financial outcomes and survival rates. Using data from the Belgian platform Spreds and methods like matching techniques and generalized linear models, the study found that equity-crowdfunded (ECF) firms generally perform worse and face higher failure rates compared to non-equity crowdfunded (NECF) firms.
Are institutional investors more concerned about climate change than retail investors?
This paper examines the role of institutional investors in responding to climate change concerns and whether they are more reactive than retail investors. By analyzing S&P 500 data from 2010 to 2021, the study explores the relationship between stock returns, emissions intensity, and unexpected climate concern captured through media analysis.