The Financial Services and Markets Authority (FSMA) received three requests for an opinion on the loyalty bonus on regulated savings accounts. The requests came from the Secretary of State for the Budget and Consumer Protection, the Deputy Prime Minister and Minister for the Economy, and the chairperson of the Finance and Budget Committee of the Belgian Chamber of Representatives, respectively. For the first time since its creation in 2011, the FSMA was asked to give its opinion on the very principle of the loyalty bonus. In response to the request, it has now prepared and published its opinion. In it, the FSMA outlines the history of the successive developments regarding regulated savings accounts and examines the origins of the concepts of ‘basic interest rate’ and ‘loyalty bonus’.