5. Capital endowment

The application should contain information on the capital endowment requirement, including the following:

• a) forecast determination of the capital endowment requirement relying on the financial forecasts included in the business plan, based on the envisaged class of the TCB, in accordance with Article 48e CRD;
• b) list of the envisaged instruments that will compose the capital endowment at the time of the submission of the application for authorisation and a statement that they meet the conditions laid down in the EBA Guidelines on the instruments meeting requirements for the capital endowment²⁷ .
• c) copy of the contract of the escrow account with an institution established in the Member State where the authorisation for the TCB is sought, that is not part of its head undertaking’s group, or where permitted under national law, with the central bank of that Member State;
• d) evidence that the capital endowment is deposited in an escrow account, or if it has not yet been deposited in full at the time of the submission of the application for authorisation, indication of the timeline for such deposit before the authorisation to commence the activity as a TCB is effective in accordance with national law;
• e) description of arrangements, strategies, processes and mechanisms to meet the capital endowment requirement on a continuous basis.