Information session about fit and proper assessments DNB
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
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Can DNB require payment institutions and electronic money institutions to hold additional own funds?
Published: 01 February 2024
Latest update: 10 July 2024
Yes, this follows from Section 60a of the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels – Bpr) for payment institutions and Section 64(5) of the Bpr for electronic money institutions. DNB may impose an additional capital requirement of up to 20% on a payment institution or electronic money institution if warranted by an assessment of the following:
DNB may find grounds to impose an additional capital requirement based on one or more of the following circumstances (among other things):
The decision to impose an additional capital requirement is provided in writing and explained to the institution in a supervisory meeting, during which DNB indicates how the additional capitalisation contributes to mitigating the shortcoming identified. In the decision, DNB also specifies the conditions that the institution must meet for the additional own funds requirement to be rescinded. If the institution meets these conditions, DNB will take a decision to rescind the additional capital requirement.
DISCLAIMER
Q&As provide further insight into our policy practice by setting out our interpretation of statutory supervisory rules. Institutions subject to our supervision may choose to comply with the laws and regulations in other ways, however. If they do so, they must be able to demonstrate that their interpretation complies with the applicable laws and regulations and substantiate this. To read more about the status of our policy statements, go to the Explanatory guide to DNB's policy statements on Open Book on Supervision.
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
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