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.