No C 318/22 Official Journal of the European Communities 20. 12. 89 
Re-examined proposal for a Second Council Directive on the coordination of laws, regulations 
and administrative provisions relating to the taking-up and pursuit of the business of credit 
institutions and amending Directive 77/780/EEC (') 
COM(89) 621 final — SYN 120 
(Submitted by the Commission pursuant to Article 149 (2) (d) of the EEC Treaty on 8 December 
1989) 
(89/C 318/09) 
O OJ No C 84, 31. 3. 1988, p. 2. 
COMMON POSITION OF THE COUNCIL REEXAMINED PROPOSAL OF THE COMMISSION 
Recitals 1 to 22 unchanged 
23 rd recital 23 rd recital 
Whereas technical modifications to the detailed rules laid 
down in this Directive may from time to time be neces­
sary to take account of new developments in the banking 
sector; whereas the Commission shall accordingly make 
such modifications as are necessary, after consulting the 
Banking Advisory Committee, within the limits of the 
implementing powers conferred on the Commission by 
the Treaty; whereas that Committee shall act as a 'regu­
latory' committee, according to the rules of procedure 
laid down in Article 2, procedure III, variant (b) of 
Council Decision 87/373/EEC of 13 July 1987 laying 
down the procedures for the exercise of implementing 
powers conferred on the Commission (l); 
Article 9 (4) 
4. Whenever it appears to the Commission, either on 
the basis of the reports referred to in paragraph 2 or on 
the basis of other information that Community credit 
institutions in a third country do not receive national 
treatment offering the same competitive opportunities as 
are available to domestic credit institutions and that the 
conditions of effective market access are not fulfilled, the 
Commission may initiate negotiations in order to remedy 
the situation. Whereas technical modifications to the detailed rules laid 
down in this Directive may from time to time be neces­
sary to take account of new developments in the banking 
sector; whereas the Commission shall accordingly make 
such modifications as are necessary, after consulting the 
Banking Advisory Committee, within the limits of the 
implementing powers conferred on the Commission by 
the Treaty; whereas that Committee shall act as a 'regu­
latory' committee, according to the rules of procedure 
laid down in Article 2, procedure III, variant (a) of 
Council Decision 87/373/EEC of 13 July 1987 laying 
down the procedures for the exercise of implementing 
powers conferred on the Commission (l); 
Article 9 (4) 
4. Whenever it appears to the Commission, either on 
the basis of the reports referred to in paragraph 2 or on 
the basis of other information that Community credit 
institutions in a third country do not receive national 
treatment offering the same competitive opportunities as 
are available to domestic credit institutions and that the 
conditions of effective market access are not fulfilled, the 
Commission may initiate negotiations in order to remedy 
the situation. Articles 1 to 9: unchanged 
Article 9 (1) to (3): unchanged 
(') OJ No L 197, 18. 7. 1987, p. 33. (') OJ No L 197, 18. 7. 1987, p. 33. 
20. 12. 89 Official Journal of the European Communities No C 318/23 
COMMON POSITION OF THE COUNCIL REEXAMINED PROPOSAL OF THE COMMISSION 
In the circumstances described in the first subparagraph, 
it may also be decided at any time, and in addition to 
initiating negotiations, in accordance with the procedure 
laid down in Article 22 (2), that the competent authori­
ties of the Member States must limit or suspend their 
decisions regarding requests pending at the moment of 
the decision of future requests for authorizations and the 
acquisition of holdings by direct or indirect parent 
undertakings governed by the laws of the third country 
in question. The duration of the measures referred to 
may not exceed three months. In the circumstances described in the first subparagraph, 
it may also be decided at any time, and in addition to 
initiating negotiations, in accordance with the procedure 
laid down in Article 22 (2), that the competent authori­
ties of the Member States must limit or suspend their 
decisions regarding requests pending at the moment of 
the decision of future requests for authorizations and the 
acquisition of holdings by direct or indirect parent 
undertakings governed by the laws of the third country 
in question. The duration of the measures referred to 
may not exceed six months. 
Before the end of that three-month period, and in the 
light of the results of the negotiations, the Council may, 
acting on a proposal from the Commission, decide by a 
qualified majority whether the measures shall be conti­
nued; Before the end of that six month period, and in the light 
of the results of the negotiations, the Council may, 
acting on a proposal from the Commission, decide by a 
qualified majority whether the measures shall be conti­
nued; 
Such limitations or suspension may not apply to the 
setting up of subsidiaries by credit institutions or their 
subsidiaries duly authorized in the Community, or to the 
acquisition of holdings in Community credit institutions 
by such institutions or subsidiaries. Such limitations or suspension my not apply to the 
setting up of subsidiaries by credit institutions or their 
subsidiaries duly authorized in the Community, or to the 
acquisition of holdings in Community credit institutions 
by such institutions or subsidiaries. 
Article 9 (5) to 21: unchanged 
Article 22 (1): unchanged 
Article 22 (2) 
2. The Commission shall be assisted by a committee 
composed of representatives of the Member States and 
chaired by a representative of the Commission. Article 22 (2) 
2. The Commission shall be assisted by a committee 
composed of representatives of the Member States and 
chaired by a representative of the Commission. 
The Commission representative shall submit to the 
committee a draft of the measures to be taken. The 
committee shall deliver its opinion on the draft within a 
time limit which the chairman may lay down according 
to the urgency of the matter. The opinion shall be deli­
vered by the majority laid down in Article 148 (2) of the 
Treaty in the case of decisions which the Council is 
required to adopt on a proposal from the Commission. 
The votes of the representatives of the Member States in 
the committee shall be weighted in the manner set out in 
that Article. The chairman shall not vote. The representative of the Commission shall submit to the 
committee a draft of the measures to be taken. The 
committee shall deliver its opinion on the draft within a 
time limit which the chairman may lay down according 
to the urgency of the matter. The opinion shall be deli­
vered by the majority laid down in Article 148 (2) of the 
Treaty in the case of decisions which the Council is 
required to adopt on a proposal from the Commission. 
The votes of the representatives of the Member States in 
the committee shall be weighted in the manner set out in 
that Article. The chairman shall not vote. 
The Commission shall adopt the measures envisaged if 
they are in accordance with the opinion of the 
Committee. The Commission shall adopt the measures envisaged if 
they are in accordance with the opinion of the 
Committee. 
If the measures envisaged are not in accordance with the 
opinion of the committee, or if no opinion is delivered, 
the Commission shall, without delay, submit to the 
Council a proposal relating to the measures to be taken. 
The Council shall act by a qualified majority. If the measures envisaged are not in accordance with the 
opinion of the committee, or if no opinion is delivered, 
the Commission shall, without delay, submit to the 
Council a proposal relating to the measures to be taken. 
The Council shall act by a qualified majority. 
No C 318/24 Official Journal of the European Communities 20. 12. 89 
COMMON POSITION OF THE COUNCIL 
If the Council does not act within three months of the 
referral to it the Commission shall adopt the measures 
proposed, unless the Council has decided against those 
measures by a simple majority. 
Articles 23 to 25 and REEXAMINED PROPOSAL OF THE COMMISSION 
If on the expiry of three months from the day of referral 
to the Council, the Council has not acted, the proposed 
measures shall be adopted by the Commission. 
Annex unchanged