(7)To enable competent authorities to assess the financial soundness of applicant credit institutions, an application for authorisation as a credit institution should contain financial information about the applicant credit institution, including, where appropriate, at individual, consolidated and sub-consolidated levels. For the same reason, competent authorities should be able to determine the quality, origin and composition of an applicant credit institution’s initial capital, as well as the ability of an applicant credit institution to comply with prudential requirements. An application for authorisation as a credit institution should therefore contain information about the amount of capital issued or to be issued and about the composition of own funds, and proof, where relevant, that the initial capital will be paid in full before the commencement of activities. To ensure that competent authorities can assess whether the activity that generated the initial capital is legitimate, an application for authorisation as a credit institution should also contain information about the origin of that initial capital.