Regulatory Alerts2017-04-01
Added · Updated
Definition of a bank
The Financial Supervision Act defines a bank as a credit institution that takes deposits or other repayable funds from the public and grants credits for its own account. The document specifies that 'the public' excludes parties within a restricted circle or professional market parties, and clarifies that repayable funds must be payable back at any time, excluding equity instruments. Entities engaging in these activities without the appropriate license are prohibited from operating as banks in the Netherlands.