Failure of financial services
The concept of "financial services" is very broad and includes various institutions, such as banks, auditing firms and cryptocurrency service providers. Failures in this sector can range from planned interruptions, such as system upgrades, to unexpected, long-term problems, such as the bankruptcy of a financial institution.
Risks and causes
Causes
Consequences
What can you do?
There are no specific recommendations for this risk.
Check out our general advice to follow before, during, and after an emergency.
Impact and probability
The figures relating to probability and impact describe a [considerable | large-scale | extreme] failure of financial services. The BNRA theoretically describes such a scenario as follows:
The failure of one or more important players within the financial system, resulting in the long-term unavailability of various services.
How should you interpret these results?
Within the BNRA, experts assessed three scenarios for each risk: considerable, major or extreme. On each page, you will find the results of the scenario with the highest score based on the combination of likelihood and impact. This does not mean that this scenario will occur or is the most likely. Read more here about how to correctly interpret the results.
Probability
Improbable
Human impact
Very weak
Societal impact
Very weak
Environmental impact
No impact
Financial impact
Moderate
What do the authorities do?
The FPS Economy is responsible for financial services in our country.
The National Bank of Belgium supervises the financial system.