20. In the case of paragraph 18, letter n), provided the submitted extension does not materially …

In the case of paragraph 18, letter n), provided the submitted extension does not materially alter the nature and risk profile of the credit institution, the competent authorities’ assessment should be limited in scope and focus on the impact of the new additional activities on the overall business model and on the capacity to comply with prudential requirements, in particular on the sound and prudent management of the credit institution (including, in particular, the profitability of the new business lines and the overall sustainability of the business plan, the suitability of the members of the management body in its management or supervisory function, the internal control framework and IT systems). It should also take into account the competent authority’s direct knowledge of the applicant credit institution’s business model, risk profile and current prudential, financial, business and operational conditions.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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