III. CREDIT INSTITUTIONS

1. 377 L 0780: First Council Directive 77/780/EEC of 12 December 1977 on the coordination of the laws, regulations and administrative provisions relating to the taking up and pursuit of the business of credit institutions (OJ No L 322, 17.12.1977, p. 30) as amended by:

- 179 H: Act concerning the conditions of accession and the adjustments to the Treaties - Accession of the Hellenic Republic (OJ No L 291, 19.11.1979, p. 17),

- 385 L 0345: Council Directive 83/345/EEC of 8 July 1985 (OJ No L 183, 18.7.1985, p. 19),

- 185 I: Act concerning the conditions of accession and the adjustments to the Treaties - Accession of the Kingdom of Spain and the Portuguese Republic (OJ No L 302, 15.11.1985, p. 23),

- 386 L 0524: Council Directive 86/524/EEC of 27 October 1986 (OJ No L 309, 4.11.1986, p. 15),

- 389 L 0646: Council Directive 89/646/EEC of 15 December 1989 (OJ No L 386, 30.12.1989, p. 1).

The following is added to Article 2 (2):

'In Austria:

- enterprises recognized as building associations for the public benefit,

In Finland:

- Teollisen yhteistyoen rahasto Oy/Fonden foer industriellt samarbete Ab, Suomen Vientiluotto Oy/Finlands Exportkredit Ab, Kera Oy/Kera Ab,

In Sweden:

- Svenska Skeppshypotekskassan.`

2. 389 L 0299: Council Directive 89/299/EEC of 17 April 1989 on the own funds of credit institutions (OJ No L 124, 5.5.1989, p. 16), as amended by:

- 391 L 0633: Council Directive 91/633/EEC of 3 December 1991 (OJ No L 339, 11.12.1991, p. 33),

- 392 L 0016: Council Directive 92/16/EEC of 16 March 1992 (OJ No L 75, 21.3.1992, p. 48).

The following are inserted as the second and third words of Article 4a: 'and Norway`.

3. 389 L 0647: Council Directive 89/647/EEC of 18 December 1989 on a solvency ratio for credit institutions (OJ No L 386, 30.12.1989, p. 14), as amended by:

- 391 L 0031: Commission Directive 91/31/EEC of 19 December 1990 (OJ No L 17, 23.1.1991, p. 20),

- 392 L 0030: Council Directive 92/30/EEC of 6 April 1992 (OJ No L 110, 28.4.1992, p. 52).

(a) The following is added to Article 6 (1) (c) (1):

'and loans fully and completely secured, to the satisfaction of the competent authorities, by shares in Finnish residential housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation, in respect of residential property which is or will be occupied or let by the borrower.`;

(b) In Article 11 (4), the words 'Germany, Denmark and Greece` are replaced by 'Germany, Denmark, Greece and Austria`.

4. 392 L 0121: Council Directive 92/121/EEC of 21 December 1992 on the monitoring and control of large exposures of credit institutions (OJ No L 29, 5.2.1993, p. 1).

(a) The first sentence of Article 4 (7) (p) is replaced by the following text:

'(p) loans secured, to the satisfaction of the competent authorities, by mortgages on residential property or by shares in Finnish residential housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation and leasing transactions under which the lessor retains full ownership of the residential property leased for as long as the lessee has not exercised his option to purchase, in all cases up to 50 % of the value of the residential property concerned.`

(b) The following second subparagraph is added in Article 6 (9):

'The same treatment applies to loans secured, to the satisfaction of the competent authorities, by shares in Finnish residential housing companies, operating in accordance with the Finnish Housing Company Act of 1991 or subsequent equivalent legislation which are similar to the mortgage loans referred to in the previous subparagraph.`.