1. General principles

Competent authorities should review the information and documents submitted with the application pursuant to Part I of these Guidelines, having regard that they should be true, accurate complete and up to date.

Competent authorities should review the application also in order to assess the indicated classification of the TCB, whether it will fall in category 1 or 2, based on the criteria set out in Article 48a(1) and (2) CRD. Such evaluation, together with the business model and organisational structure of the envisaged TCB will also impact on the calibration of the intensity of the assessment of the application.

The authorisation can only be granted when the competent authority, having reviewed and assessed all the information and documents submitted with the application and any other relevant information including the information obtained from other competent authorities or authorities, deems that the envisaged TCB meets all the conditions for authorisation set out Article 48c(4) of CRD as specified in these Guidelines.