CZECH NATIONAL BANK GRANTS ITS FIRST LICENCE TO A BRANCH OF A BANK REGISTERED OUTSIDE THE EU

CZECH NATIONAL BANK GRANTS ITS FIRST LICENCE TO A BRANCH OF A BANK REGISTERED OUTSIDE THE EU

Prague, 22 May 2017 – In early May, the Czech National Bank granted its first ever licence to a branch of a bank with its registered office in a non-EU country. The bank is Industrial and Commercial Bank of China. From the perspective of the Financial Market Guarantee System, this is the only branch of a bank that does not have its registered office in the Czech Republic but is governed by the Czech deposit insurance system....

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The Financial Market Guarantee System

  • a more comprehensive protection system for depositors and promotion of stability on the financial market
  • established 1. 1. 2016
  • administers the Deposit Insurance Fund and the Crisis Resolution Fund

Deposit Insurance

EUR 100,000

banks, building societies, credit cooperatives

7 business days

Crisis Resolution

restructuring tools

role and powers of the Czech National Bank

financing crisis resolution