credit institution
- 52(a)52 an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or
- 52(b)52 an electronic money institution within the meaning of the E-Money Directive;
- 52(c)52 (except for the purposes of GENPRU, ELM56, BIPRU and IPRU(INV) (in so far as it relates to exempt CAD firms)56) an institution within 81(1)(b)81 that does not have the right to benefit from the mutual recognition arrangements under BCD is excluded; and48
- (2) (in REC and in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)):5286
- (a) a credit institution authorised under the Banking Consolidation Directive; or52
- (b) an institution which would satisfy the requirements for authorisation as a credit institution under the Banking Consolidation Directive if it had its registered office (or if it does not have a registered office, its head office) in an EEA State.52
(1) (except in REC) 52(in accordance with articles 4(1) and 10748 of the BCD):48
but so that:48
(see also BCD credit institution, full credit institution, full BCD credit institution and Zone A credit institution.)