c.3

.................................................................................................................... 59 C.3 Credit risk ...................................................................................................................... 61 C.4 Liquidity risk

..................................................................................................................... 56 C.3 Credit risk

.................................................................................................................... 52 C.2 Market risk .............................................................................................................................. 53 C.3 Credit risk

risk .............................................................................................................................. 58 C.3. Credit risk... a rising interest environment and normalization in inflation rates. The OLO 10 year rate, representing the returns on 10 years Belgian government bonds, increased from 2.6% in December 2023 to c.3.4% in December 2025. At the same time, inflation rates

...................................................................................................................... 59 C.3 Credit risk ........................................................................................................................ 61 C.4 Liquidity risk