Regulatory Alerts2017-04-01
Added · Updated
Exemption from licence requirement: central corporate treasuries
Central corporate treasuries are exempt from the requirement to hold a banking licence if they provide an unconditional guarantee from a licensed bank or parent company for all obligations arising from repayable funds. This exemption requires the treasury to lend at least 95% of these funds within its group and for the parent company to maintain positive consolidated own funds throughout the guarantee's duration. The entity must continuously demonstrate compliance with these conditions to remain exempt from licensing obligations.
Factsheet
Read aloud
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.
Published: 01 April 2017
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
Licence as a bank - overview
License or no license
Definition of a bank
Activities requiring a licence
Exemption from licence requirement: central corporate treasuries
Full licence and partial licence
Licence application
Licence application
Application process (12 steps)
Application process timeline
Application fees
Application success factors
Background information
PSD2
Prohibition on operating as a bank without a licence
Dispensation from prohibition on takingrepayable funds
Public register
Foreign banks
Statutory framework governing market access for banks
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