On 13 July 2012, an agreement in principle was reached by the Ministry of Economy, the Ministry of Finance, the FSMA and Febelfin. This agreement is aimed at offering better protection to consumers in the banking sector. The first part of the agreement concerns regulated savings accounts and contains measures regarding information and advertising of savings accounts, conditional offers, the method of calculation and the means of payment for this savings account.
The first measure regarding information consists in making available a simulator on a site managed by the FSMA. Using this simulator, savers enter a series of data such as the amount to be saved and the duration of the savings and receive an overview of the interest rates offered per savings account and per institution. The simulator has been [SM1] available as from 31/01/2013.
The simulator has been the subject of a protocol drawn up between the FSMA and Febelfin. The credit institutions that accede to the protocol take responsibility for providing the information necessary for the smooth operation of the simulator.
For further information:
Accession by credit institutions:
Credit institutions offering savings accounts at the time of the signing of the protocol with Febelfin must accede to the protocol at the latest by 15/01/2013.
- Form for acceding to the protocol for credit institutions (available in French and Dutch only)
- User Guide for first-time use of FiMiS (available in French and Dutch only)
- Quick User Guide FiMiS for Savings Accounts (available in French and Dutch only)