Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

credit institution

(1) (except in REC) 52(in accordance with articles 4(1) and 10748 of the BCD):48

  1. 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
  2. 52(b)52 an electronic money institution within the meaning of the E-Money Directive;

but so that:48

  1. 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. 52(d)52 for the purposes of BIPRU 10 (Concentration risk requirements) it means:48
    1. 52(i)52 a credit institution as defined by (1)(a)81 to 81(1)(b)81 that has been authorised in an EEA State; or48
    2. 52(ii)52 any private or public undertaking which meets the definition in (1)(a)81 - (1)(b)81 and which has been authorised in a non-EEA state.48

(see also BCD credit institution, full credit institution, full BCD credit institution and Zone A credit institution.)

  1. (2) (in REC):52
    1. (a) a credit institution authorised under the Banking Consolidation Directive; or52
    2. (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