EBA published an Opinion addressed to the European Commission to raise awareness as to the opportunity to clarify certain issues relating to the definition of credit institution in the upcoming review of the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD).
Such clarifications would be beneficial to the
development of a truly uniform Single Rulebook and ultimately to a
deeper market integration of banking and financial services across the
EU.
Aspects that would benefit from
clarification are the notions of “deposits”, “other repayable funds” and
“from the public”. These issues had already been analysed and brought
to the European Commission’s attention by the EBA in previous Reports and related Opinions.
Today’s Opinion raises two additional
points relating to a) divergent approaches as to the scope of the
authorisation; and b) the kind and extent to which commercial activities
may be carried out by credit institutions.
In this Opinion, the EBA also recommends
that changes to the regulatory perimeter be accompanied by an impact
assessment and stands ready to provide assistance to the Commission, if
needed.
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