Authorisation to conduct banking or financing business (application)
Firms that would like to conduct banking or financing business must have authorisation from Finansinspektionen.
Banking business includes processing payments via general payment systems and receiving money on account, which after a notice of termination should be available to the claim holder within a maximum of 30 days.
Financing business includes commercial operations with the intention of receiving funds from the general public that must be repaid. This definition also includes granting loans and guaranteeing loans or, for funding purposes, acquiring claims or leasing personal property.
Origin: Swedish Financial Supervisory Authority
Responsible: Swedish Agency for Economic and Regional Growth
