It involves two (2) meetings between interested parties and BoG staff, which can be held in person, online or in a hybrid manner.
It involves two (2) meetings between interested parties and BoG staff, which can be held in person, online or in a hybrid manner.
In the first meeting, which is of an introductory nature, issues concerning the shareholders of the new institution, its business model, the paying-up of the initial capital, any intra-group loans or transactions, etc. are discussed.
Other issues could be discussed on an optional basis, such as: the organisational structure, the governance framework and internal control mechanisms, the prospective members of the Board of Directors, any planned outsourcing of functions, as well as the timeline for the establishment of the new institution.
In the second meeting, which is of a more technical nature, the business plan, the viability of the business model and the ability of the new institution to comply with supervisory requirements are discussed.
Where appropriate, a single meeting may be held on both introductory and technical issues.
To facilitate the discussion, interested parties should send relevant material electronically before a meeting is scheduled.
For the authorisation of a credit institution, microfinance institution, credit servicing firm, leasing, credit or factoring company, the relevant material should be sent to dep.bankingsupervision@bankofgreece.gr.
For the authorisation of a payment institution, electronic money institution or bureau de change, the relevant material should be sent to sec.paymentemoneyins@bankofgreece.gr.
For the authorisation of a (re)insurance undertaking, the relevant material should be sent to dep.insurancesup@bankofgreece.gr.
Any comments, defects or improvements discussed at the above meetings, during the pre-application procedure, should be taken into account by interested parties when preparing the final file and submitting the application for authorisation.