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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)52123295[deleted]123295

  1. 52(c)525681123295[deleted]123295
  2. 52(d)52 for the purposes of BIPRU 10108(Large exposures108 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 and in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)):5286
    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
  2. (3) (in relation to the definition of electronic money issuer) a credit institution as defined by (1)(a) and includes a branch of the credit institution within the meaning of Article 4(3) of the Banking Consolidation Directive which is situated within the EEA and which has its head office in a territory outside the EEA in accordance with Article 38 of the Banking Consolidation Directive.123295