Roméro Diaz, NicolasDe Bondt, JanVeredas, David2024-02-082024-02-082023http://hdl.handle.net/20.500.12127/7389The great success of the one-year “Staatsbon” or government bond was caused by the low deposit rates at Belgian banks and the reduction in withholding tax (from 30% to 15%). This forced banks to revise their deposit rates and give up profitability, or to retain the low rates and lose liquidity. Investor demand for high-interest, fixed-income instruments means that banks need to readjust their risk models and compete with sovereign and private sector alternatives.enAccounting & FinanceSystainability289970181874