ECB guidelines on applications for authorisation to engage in the banking business available for consultation

On 21 September 2017, the ECB released for public consultation a guide to assessing applications for authorisation to engage in the banking business by credit institutions in general and assessing applications for authorisation to engage in the banking business by fintech credit institutions. Both guides, which are not legally binding, were developed to make the licencing process more transparent, provide practical supporting assistance to applicants and further harmonize the evaluation of applications.

The first document, “Guide to assessments of licence applications”, analyses the topics that will be assessed by the ECB along with the national banking supervisory authorities and explains the application procedure and the relevant timing.

The second document, “Guide to assessments of fintech credit institution licence applications”, contains specific information for institutions with fintech business models interested in applying for authorisation to engage in the banking business, but also for existing banks that intend to create affiliates with a fintech business model or enter into partnerships with such entities.

The consultation period will end on 2 November 2017.

Download the documents