Featured Product

    ECB Issues Consolidated Guide to Assessments of License Applications

    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.

     

    Related Links

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

    Related Articles
    News

    APRA Publishes Proposal to Increase Transparency of Banking Data

    APRA proposed to substantially increase the volume and breadth of data it makes publicly available on authorized deposit-taking institutions, including banks, credit unions, and building societies.

    December 05, 2019 WebPage Regulatory News
    News

    ESMA Consults on Guide to Internal Controls for Credit Rating Agencies

    ESMA launched a consultation on the guidelines on internal controls for credit rating agencies (CRAs).

    December 05, 2019 WebPage Regulatory News
    News

    EU Finalizes Directive and Prudential Rules for Investment Firms

    EU published, in the Official Journal of the European Union, the Directive (2019/2034) and Regulation (2019/2033) on the prudential requirements and supervision of investment firms.

    December 05, 2019 WebPage Regulatory News
    News

    OSFI Revises Guideline on Principles for Management of Liquidity Risk

    OSFI finalized Guideline B-6 on the principles for the management of liquidity risk.

    December 05, 2019 WebPage Regulatory News
    News

    PRA Consults on Framework to Manage Outsourcing and Third-Party Risk

    PRA published a consultation paper CP30/19 that sets out proposals to modernize the regulatory framework on outsourcing and third-party risk management.

    December 05, 2019 WebPage Regulatory News
    News

    BoE, PRA, and FCA Consult to Strengthen Operational Resilience

    BoE, PRA, and FCA published a shared policy summary and coordinated consultation papers on new requirements to strengthen operational resilience in the financial services sector.

    December 05, 2019 WebPage Regulatory News
    News

    EC Amends Rule on Mapping of External Credit Assessment Institutions

    EC published the implementing regulation (EU) 2019/2028, which amends Regulation 2016/1799, regarding the mapping tables specifying correspondence between the credit risk assessments of external credit assessment institutions (ECAIs) and the credit quality steps set out in the Capital Requirements Regulation.

    December 04, 2019 WebPage Regulatory News
    News

    EBA Issues Second Part of Advice on Implementation of Basel III in EU

    EBA published the second part of its advice on the implementation of Basel III in EU, which complements the report published on August 05, 2019.

    December 04, 2019 WebPage Regulatory News
    News

    EU Approves European Council Proposal on CCP Recovery and Resolution

    EU ambassadors approved the position of European Council on a proposed framework for clearing houses and their authorities to prepare for and deal with financial difficulties.

    December 04, 2019 WebPage Regulatory News
    News

    OSFI Releases Guideline on Foreign Bank Branch Deposit Requirements

    OSFI released the final version of Guideline A-10 on foreign bank branch deposit requirements, along with guideline impact analysis statement.

    December 04, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4268