Termination of the operation of credit institutions on request (withdrawal of the operating licence)

The credit institution surrenders its foundation or activity licence in accordance with the relevant legal provisions. The withdrawal of the licence requires the consent of the Magyar Nemzeti Bank (MNB).

Kulcsszavak: credit institution, surrendering a licence, voluntary winding up, voluntary liquidation

A credit institution may surrender its activity licence if it provides evidence that it has no outstanding liabilities arising from the provision of financial services, ancillary financial services or any other activity performed in the course of its operation.

In authorisation procedures, applications and notifications must be submitted, in addition to authenticated electronic copies of the relevant attachments, by using the electronic forms available on the ERA platform of the MNB’s website under the E-Administration / Licensing service. The MNB’s decisions, requests for supplementation, notices and other communications are delivered to financial institutions or their legal representatives via the customer’s electronic storage space.

Detailed information on e-administration and on the substantive and formal requirements of electronic documents can be found on the MNB’s website under the following link:


At the same time that the activity licence is withdrawn, the MNB initiates the voluntary winding up or liquidation of the credit institution. After the withdrawal of the activity licence the credit institution may no longer provide financial services. The provision of financial services and ancillary financial services without authorisation constitutes a criminal offence, and the MNB may commence a market surveillance procedure if it suspects engagement in any unauthorised financial activities.

If the MNB finds that an activity is performed without authorisation, it will

a) prohibit the activity,

b) initiate criminal proceedings if, in its opinion, a criminal offence is involved under the Act on the Criminal Code,

c) apply measures or exceptional measures, and/or

d) impose a market surveillance fine.

If the submitted application contains insufficient information, within 45 days of receipt of the application the MNB will request that the applicant to submit supplementary information. In the case of complete applications, the MNB will make a decision within three months of receipt of the application.

A detailed guide to the withdrawal of the activity licences of credit institutions on request can be accessed via the following link. https://www.mnb.hu/letoltes/1-1-2-3-1-engedelyezesi-utmutato-hitelintezet-mukodesenek-megszuntetese.pdf.

The withdrawal of the operating licence of credit institutions upon request does not entail any administrative service fee payment obligation.

Magyar Nemzeti Bank, Money and Capital Markets Licensing Department

The MNB’s decision (resolution or ruling) may not be appealed; however, customers whose rights or legitimate interests are directly affected by the decision may initiate administrative court proceedings within 30 (thirty) days of the disclosure of the resolution or ruling on the grounds of infringement, by submitting an application initiating proceedings to the Budapest-Capital Regional Court.

Legal representation is mandatory in the court proceedings. The application must be addressed to the Budapest-Capital Regional Court, and submitted electronically through the MNB’s form submission support service.

The form submission support service can be accessed at:


The submission of the application has no suspensive effect on the enforceability of the resolution or ruling, but the customer may request interim relief. As a general rule, the court rules in the proceedings without holding a hearing; however, the customer may request a hearing in the application. No application for a remedy may be submitted in the event of a failure to request a hearing.

An application for remedy may be lodged by any party who goes over a time limit or misses a legal deadline during the procedure for reasons beyond their control.

Additional general information about the authorisation procedure is available at: https://www.mnb.hu/felugyelet/engedelyezes-es-intezmenyfelugyeles/engedelyezes/tajekoztatok

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Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises

Act CXXXIX of 2013 on the Magyar Nemzeti Bank (Central Bank of Hungary)