CNB Board approved the "CNB Provision Stipulating the Essentials for a Banking Licence Application"

At its meeting today, the CNB Board approved the "CNB Provision Stipulating the Essentials for a Banking Licence Application". The new regulation replaces the original CNB Provision No. 24/1994 and revises the requirements for the information necessary when establishing new banks and foreign bank branches. The changes relate to the amendment to the Act on Banks (information on the financial status of the founders, their business intentions and the staffing of the most important managerial posts). The minimum initial capital required for the establishment of a bank remains unchanged at CZK 500 mil. The CNB-approved provision will enter into effect on the day of its promulgation in the Collection of Laws and will be published on CNB internet site.

CNB - M. Švehla