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01 April 2017 Supervision Supervision label Factsheet

Any party wanting to pursue the business of a bank in the Netherlands must hold the appropriate licence. Under specific circumstances, this does not apply to central corporate treasuries.

A central corporate treasury is an entity that invites repayable funds by issuing securities and that lends the invited funds within the group to which it belongs.

Exception

An exception to the prohibition to pursue the business of a bank without a licence may apply if a central corporate treasury holds an unconditional guarantee from a licensed bank or from its own parent company with respect to all obligations arising from the repayable funds received. The central corporate treasury must grant at least 95% of those funds as credits within the group to which it belongs. The parent company is required to guarantee that the central corporate treasury is able to fulfil all of its obligations arising from having invited repayable funds at all times. The parent company is also required to have positive consolidated own funds at its disposal during the entire life of the guarantee.

No licence

The central corporate treasury is only excepted from the obligation to have a licence if it is at all times able to demonstrate that it complies with the conditions for exception.

Information licence application for a bank

Sector(s)

  • Banks