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January 09, 2019

ECB published a consolidated version of the guide to assessments of license applications for banks. The guide applies to all license applications to become a credit institution within the meaning of the Capital Requirements Regulation (CRR), including, but not limited to, initial authorizations for credit institutions, applications from fintech companies, authorizations in the context of mergers or acquisitions, bridge bank applications and license extensions.

The consolidated guide is intended as a practical tool to support those involved in the process of authorization and to ensure a smooth and effective procedure and assessment. The text of the consolidated version of the guide, which is not legally binding, combines the content of the first guide published in March 2018 and that of Part 2, the public consultation for which ended on October 25, 2018. As the ECB received no comments during the public consultation of Part 2, no feedback statement has been published.

When granting authorizations to banks, ECB acts as a gatekeeper to ensure that only robust banks can enter the market. The consolidated guide promotes a level playing field throughout the euro area and reduces the risk that entities will circumvent banking regulation and supervision. It also promotes awareness and enhances the transparency of the assessment criteria and processes for establishing a credit institution in the euro area. These criteria include the applicant banks’ capital levels, their program of operations, the structural organization and the suitability of their managers and relevant shareholders. No particular business model for banks is advocated. The guide will be updated regularly to reflect new developments and experience gained in practice.

 

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Keywords: Europe, EU, Banking, License Applications, CRR, Guide, ECB

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