The Financial Action Task Force (FATF) released two documents, indicating jurisdictions with strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.Read more
Application process (12 steps)
The process of applying for a licence as a bank has two phases: the preliminary phase and the formal phase. The statutory consideration period for an application to be authorised as a bank is 26 weeks. The consideration period will start when DNB has received your formal application for a licence.
Before proceeding to a formal application for a licence, we would advise you to use the opportunity to discuss you application informally with us first. During this preliminary phase, we can assess your draft application before you submit your formal application.
Preliminary phase, step 1 – discussion based on business plan
Before you submit your formal application, you are welcome to discuss your intended activities and their feasibility with us first. This briefing will be based on a tangible business plan, without a full application being required. We will give you feedback on the content of your business plan and inform you about the application process.
Your business plan should at least address the financial projections for the first three years, the required capital and a summary of the proposed activities. We will assess the business plan against the submitted projections and a series of key questions about the business model and strategy1. Other topics that you may address in your business plan are the proposed governance (management board and supervisory board) and aspects relating to sound and ethical operational management (including compliance, internal audit services, outsourcing and ICT).
Preliminary phase, step 2 – draft application for a licence
You can submit a draft application, which we will assess free of charge. We will then send you a detailed written response on the completeness and quality standard of the submitted documents, and we will inform you about any supplementary information that we would need if you intend to submit a formal application for a licence.
Submission of an application
Be sure to complete the application form fully and truthfully and make sure to enclose all the required documents.
The application procedure comprises several steps. For example, we may ask you to provide supplementary information and (suspending the deadline for consideration) schedule a meeting, or we may need to assess your institution's decision makers. We have prepared an overview of the steps that you may need to go through. Watch the animation about the practical aspects of applying for a licence.
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The countercyclical capital buffer (CCyB) is a macroprudential instrument that aims to protect banks against systemic risks arising from excessive credit growth in a member state.Read more