On September 14, 2018, the European Central Bank opened a consultation on a draft Part 2 to its Guide to Assessments of Licence Applications by banks. The ECB published the Guide to Assessment of Licence Applications in March 2018, which applies to all license applications to become a credit institution within the meaning of the CRR. The ECB developed the Guide, which is not legally binding, to promote awareness and enhance the transparency of the assessment criteria and processes for establishing a credit institution within the Single Supervisory Mechanism.
The consultation on the draft Part 2 of the Guide focuses on assessment criteria for capital requirements and business plans, including initial capital, own funds, location, operations and structural organization, banking group and outsourcing.
The consultation closes on October 25, 2018.
The consultation paper is available at:
https://www.bankingsupervision.europa.eu/legalframework/publiccons/pdf/licence_applications_part2/ssm.draft_guide_201809.en.pdf?b370a4ec6f586938767bab4bf5e321d8, the consultation webpage is available at: https://www.bankingsupervision.europa.eu/legalframework/publiccons/html/licence_applications_part2.en.html and details of the Guide to Assessments of Licence Applications are available at: https://finreg.shearman.com/european-central-bank-issues-final-guides-on-lice.
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