EBA publishes final standards specifying information requirements for the authorisation of credit institutions

14 July 2017

The European Banking Authority (EBA) published today (i) its final draft regulatory technical standards (RTS) on the information applicants shall provide to competent authorities when applying for authorisation as credit institutions, and (ii) its final draft implementing technical standards (ITS) related to the templates to be used for the provision of such information. Overall, these final draft technical standards aim at promoting convergence of supervisory practices regarding the assessment of the applications by prescribing a common set of information to be submitted to the competent authorities whilst securing a proportionate and workable approach that takes into account differences in applicants' size and proposed business models.
The RTS are intended to support the proportionate and prudent common approach for the licensing of banking activities in the EU.  They support the level playing field as regards access to the activity of credit institutions by harmonising the information required to be provided to competent authorities in order to enable them to assess applicants against the conditions for authorisation laid down in the Capital Requirements Directive (CRD), including in relation to the programme of operations and structural organisation, initial capital, effective direction and place of business of the applicants.  
In addition, the RTS acknowledge the need to verify whether all requirements for authorisation laid down by the Member States and notified to the EBA have been satisfied. In this regard, the RTS give competent authorities the ability to require additional information where such verifications are needed.
The EBA encourages the Commission to adopt the RTS and ITS at the earliest possible opportunity to support the consistent, efficient and rigorous assessment of any applications for authorisation to be submitted by entities seeking to relocate in the context of the UK's withdrawal from the EU.

Legal basis

These draft RTS have been developed in accordance with Article 8(2) of the CRD, which mandates the EBA to specify the information to be provided to competent authorities in the application for the authorisation of credit institutions. The draft ITS have been developed according to Article 8(3) of the CRD, which mandates the EBA to produce standard forms, templates and procedures for the provision of such information.

Press contacts

Franca Rosa Congiu

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