Impacts of these developments on the Belgian banking sector  As indicated by the previous speaker, the financial sector will face a very competitive environment in the search of stable financing. This will result in a number of consequences:   More costly credit.
It is difficult to deny that the stricter capital requirements, combined with the new liquidity rules and new taxes, will increase the cost of credit. We do not yet know the extent to which this higher cost will impact aggregate lending or the real economy.