2. Programme of operations of the TCB: business plan

The application should contain a business plan for the three years following access to the market of the TCB upon grant of the authorisation, accompanied by an explanation of its initial viability and ongoing sustainability on a base case and a stress scenario basis for the same period. The underlying assumptions should be credible and realistic and should rely on official macroeconomic forecasts elaborated by a Union or public national institution. The business plan of the TCB should include the following qualitative and quantitative information:

• a) intended location of establishment and address of the TCB;
• b) the applicant head undertaking’s business rationale and business strategy for the establishment of the TCB and the consistency with its business plan;
• c) list of the planned activities including a description of the core banking services, of any other financial service requiring a license under national law and non-financial activities that the TCB intends to carry out, and the related risks, as well as the target customers;
• d) as part of the business plan, financial projections including forecast accounting plans, forecast annual reports, forecast financial statements (namely the balance sheet, the profit and loss accounts or income statements and, where available, the cash flow statements);
• e) forecast calculation of any prudential requirement imposed by national law;
• f) estimate date of commencement of the TCB business activities.