Initial Capital Maintenance and Monitoring
What this control requires
Maintain initial capital at all times at or above NBB-required minimum (€125,000 for basic PI, higher for specific services). Monitor capital daily. Establish early warning threshold at 115% of minimum. Notify NBB immediately if capital falls below minimum or early warning threshold is breached.
Other LOI PI 2018 controls
BEPI-A10-001 - Administrative File Completeness and CurrencyBEPI-A20-001 - Management Fitness and Propriety ProgrammeBEPI-A21-001 - Sound Governance and Internal Control FrameworkBEPI-A47-001 - Client Funds Safeguarding ControlsBEPI-A50-001 - Own Funds Adequacy MonitoringBEPI-A53-001 - Risk Management Function ImplementationBEPI-A55-001 - Compliance Function and AML/CFT OversightBEPI-A58-001 - Payment Security Incident Reporting to NBBBEPI-A63-001 - NBB On-Site Inspection ReadinessBEPI-A9-001 - NBB Authorisation — Pre-Application Readiness Assessment