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Dispensation from prohibition on takingrepayable funds


Under Section 3:5 of the Financial Supervision Act (Wet op het financieel toezicht – Wft) it is in principle prohibited to take, acquire or hold repayable funds from the public. The prohibition does not apply to institutions holding a licence as a bank. Even if the institution does not have a licence as a bank, DNB may under specific conditions issue dispensation from this prohibition.

Published: 01 April 2017

DNB is authorised but not obliged to issue dispensation. In practice, we are very reluctant to issue dispensation. The Decree on the Scope of the Wft (Besluit reikwijdtebepalingen Wft) states the minimum requirements for issuing dispensation. When applying for dispensation from the prohibition under Section 2:5 of the Wft, you must at least meet these requirements.

When considering whether to use our authority in a specific case, we will first decide whether granting dispensation could compromise the interests which Part 3 of the Wft (on the prudential supervision of financial enterprises) aims to protect. The aim of prudential supervision is to safeguard the soundness of the financial institution and to contribute to the stability of the financial sector as a whole. In considering the application, we will assess whether the party seeking dispensation will at all times be able to meet its obligations regarding the repayable funds that it invites.


Dispensation will be issued only if the applicant has submitted a guarantee that warrants compliance with all the obligations arising from operating a business engaged in taking, acquiring or holding repayable funds from the public. This guarantee must have been provided by an authorised bank having its registered office in the Netherlands, a bank authorised to operate in the Netherlands or a public body as referred to in Section 1, under a, of the Local and Regional Authorities Funding Act (Wet financiering decentrale overheden).

Parent guarantee

A guarantee provided by the applicant's parent company is not sufficient. Practice has shown that we cannot verify to a satisfactory degree whether the parent company is at all times able to fulfil the obligations of the subsidiary company. The actual value of such a guarantee depends on the soundness of the parent company, which may fluctuate and cannot be established by us.


We also consider whether the applicant actually needs dispensation. In many cases, institutions can set up their operational management in a way that does not involve taking repayable funds.

Limited period

Dispensations are only granted for a limited period of time, which cannot be extended. If a company wishes to qualify for dispensation after this period, it will have to apply again. In considering the new application, we will take into account whether the company observed the provisions of its earlier dispensation.


Corporations having a dispensation under section 3:5 of the Financial Supervision Act (Wet op het financieel toezicht) are included in the register under the Act. The register states the name of the organisation, the date when the dispensation was issued, the activities permitted and any restrictions imposed.


We charge a fee of EUR 3,600 for processing applications for dispensation. This fee is laid down in the Financial Supervision Funding Act (Wet bekostiging financieel toezicht).

Submitting an application for dispensation

If you or your institution intend to submit an application for dispensation, please complete the notification form, sign it, attach all required documents and submit it via the DLT.

Information licence application for a bank

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