No C 83/6 Official Journal of the European Communities 24. 3. 84 
II 
(Preparatory Acts) 
COMMISSION 
Amendments to the proposal for a Council Directive concerning the annual accounts of 
banks and other financial institutions (') 
COM(84) 124 final 
(Submitted by the Commission to the Council pursuant to Article 149(2) of the EEC Treaty 
on 14 March 1984) 
(84/C 83/06) 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
Recitals 1 to 12 unchanged 
Whereas, taking account of the importance of 
banking networks which extend beyond national 
frontiers and their constant development, it is 
important that the annual accounts of a credit 
institution having its head office in one Member 
State, should be published in all the Member States 
where it is established and that this publication should 
be made in the official languages of the Member 
States concerned; 
1. The coordination measures prescribed by this 
Directive shall apply to all credit institutions within 
the meaning of Article 1 of Directive 77/780/EEC, 
where such institutions are companies or firms within 
the meaning of the second paragraph of Article 58 of 
the Treaty. 
2. This Directive shall also apply to all other 
companies or firms whose principal activity is to 
receive deposits or other repayable funds, for their 
own account or to grant credits (including 
guarantees), to acquire participating interests or make 
investments, in so far as such companies or firms have 
not been made subject to Directive 78/660/EEC. 
3. This Directive shall not apply to: 
(a) the credit institutions listed in Article 2 (2) of 
Directive 77/780/EEC; Whereas, taking account of the importance of 
banking networks which extend beyond national 
frontiers and their constant development, it is 
important that the annual accounts of a credit 
institution having its head office in one Member 
State, should be published in all the Member States 
where it is established; 
Unchanged. 
2. This Directive shall also apply to all other 
companies or firms whose principle activity is to grant 
credit facilities (including guarantees), to acquire 
participating interests or to make investments, \n so 
far as such companies or fims have not been made 
subject to Directive 78/660/EEC. 
Unchanged. Article 1 unchanged 
Article 2 Article 2 
O OJNoC 130, 1.6. 1981, p. 1. 
24. 3. 84 Official Journal of the European Communities No C 83/7 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
(b) the following credit institutions: 
— the Netherlands: credit institutions which by 
virtue of Article 8 of the Wet Toezicht 
Kredietwezen' (*) are not subject to Article 11 
of the aforesaid law, 
— in the United Kingdom: 'Friendly Societies' 
and 'Industrial and Provident Societies'. 
4. Member States may defer application of this 
Directive to: 
(a) the credit institutions referred to in Article 2 (5) 
of Directive 77/780/EEC, and included in the 
Commission communication of 14 October 
1978 (2), for so long as the application of them of 
Directive 77/780/EEC is deferred; 
(b) other specialized credit institutions, where, 
because of the nature of their business, immediate 
application would create serious problems; in this 
case, these institutions must be notified to the 
Commission within six months of the notification 
of this Directive. Member States may decide to 
defer application of this Directive to these 
institutions pending further coordination and 
until 1 January 1988 at the latest. 4. Member States may defer application of this 
Directive to: 
(a) the credit institutions referred to in Article 2 (5) 
of Directive 77/780/EEC, and included in the 
Commission communications of 14 October 
1978 O and of 6 October 1981 (2), for so long as 
the application of them of Directive 77/780/EEC 
is deferred; 
(b) other specialized credit institutions, where, 
because of the nature of their business, immediate 
application would create serious problems; in this 
case these institutions must be notified to the 
Commission within six months of the notification 
of this Directive. Member States may decide to 
defer application of this Directive to these 
institutions pending further coordination and 
until at the latest five years following the 
notification of this Directive. 
Article 3 unchanged 
Article 4 Article 4 
The Member States shall 
layout for the balance sheet: prescribe the following Unchanged. 
Assets Assets 
Items 1 to 7 unchanged 
8. Shares and other variable-yield securities, 
including: 
— participating interests, 
— shares in affiliated undertakings. 8. Shares and other variable-yield securities. 
9. Participating interests. 
9a. Shares in affiliated undertakings. 
(») Adopted on 13 April 1978 — Staatsblad 1978, No 255. 
(2) OJ No C 244, 14. 10. 1978, p. 2. (') OJ No C 244, 14. 10. 1978, p. 2. 
(2) OJ No C 254, 6. 10. 1981, p. 1. 
No C 83/8 Official Journal of the European Communities 24. 3. 84 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
Assets as listed in Article 9, Assets B, C I and 
C II (2), (3) and (4) of Directive 78/660/EEC, 
including: 
— formation expenses, 
— goodwill, to the extent that it was acquired 
for valuable consideration, ' 
— assets listed in Article 9 C II (2), (3) and (4) 
of Directive 78/660/EEC. 10. Assets as listed in Article 9, Assets B, C I and 
C II (2), (3) and (4) of Directive 78/660/EEC, 
including: 
— formation expenses, 
— goodwill, to the extent that it was acquired 
for valuable consideration, 
— assets listed in Article 9, Assets C II (2), (3) 
and (4) of Directive 78/660/EEC. 
10. Land and buildings. 
11. Subscribed capital unpaid, 
— called-up capital (unless national law provides 
for called-up capital to be included under 
liabilities, in which case capital called but not 
yet paid up must be included either in item 11 
of the assets or in item 14 of the assets). 
12. Own shares 
— in addition: nominal/accounting per value. 
13. Other assets. 
14. Subscribed capital, called but not paid-up (unless 
national law provides that called-up capital be 
shown as an asset under item 11). 
15. Accruals and deferred income. 
16. Loss for the financial year (unless national law 
provides for its inclusion under item 13 of the 
liabilities). 11. Land and buildings. 
12. Subscribed capital unpaid, 
— called-up capital (unless national law provides 
for called-up capital to be included under 
liabilities, in which case capital called but not 
yet paid up must be included either in item 11 
of the assets or in item 14 of the assets). 
13. 
14. Own shares 
— in addition: nominal/accounting per value. 
Other assets. 
15. Subscribed capital, called but not paid-up (unless 
national law provides that called-up capital be 
shown as an asset under item 11). 
16. Accruals and deferred income. 
17. Loss for the financial year (unless national law 
provides for its inclusion under item 13 of the 
liabilities). 
Total assets Total assets 
'Liabilities' unchanged 
'Below the Line items' unchanged 
Article 5 
1. The Member States shall describe that the 
following shall be shown separately in sub-items to 
the respective items: 
— claims, whether or not represented by certificates, 
on affiliated undertakings and contained in 
'Assets' items 3 to 7, 
— claims, whether or not represented by certificates, 
on undertakings with which the credit institution 
is linked by virtue of a participating interest and 
contained in 'Assets' items 3 to 7, Article 5 
1. The following shall be shown separately in sub-
items to the respective items: 
Unchanged. 
Unchanged. 
24.3.84 Official Journal of the European Communities No C 83/9 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
— liabilities, whether or not represented by cer- Unchanged, 
tificates, to affiliated undertakings and contained 
in 'Liabilities' items 1, 2, 3 and 8, 
— liabilities whether or not represented by cer- Unchanged, 
tificates, to undertakings with which the credit 
institution is linked by virtue of a participating 
interest and contained in 'Liabilities' items 1, 2, 3 
and 8. 
2. The Member States may, however, permit this Unchanged, 
information, broken down by the items referred to in 
paragraph 1, to be shown in the notes. 
Articles 6 to 8 unchanged 
Article 9 
1. The classification by maturity of certain assets 
and liabilities shall be based on the originally agreed 
maturity or period of notice. However, where a credit 
institution has acquired an existing loan not 
represented by a certificate, it shall classify that loan 
on the basis of the remaining maturity as at the date 
on which it was acquired. 
2. The originally agreed maturity for loans shall be 
the period between the date of first drawing and the 
date of repayment. The period of notice shall be 
deemed to be the period between the date on which 
notice is given and the date on which repayment is to 
be made. 
3. If loans and advances or other claims are 
redeemable by instalments, the agreed maturity shall 
be the period between the date on which such loans 
and advances or other claims arose and the date on 
which the last instalment falls due. 
4. Only those amounts which can at any time be 
withdrawn without notice or for which a maturity or 
period of notice of not more than 24 hours or one 
working day has been agreed shall be regarded as 
repayable on demand. Article 9 
1. The classification by maturity of certain assets 
and liabilities shall be based on the remaining maturity 
as at the balance sheet date. 
2. If loans and advances or other claims are 
redeemable by instalments, the remaining maturity 
shall be the period between the balance sheet date and 
the date on which the last instalment falls due. 
3. Only those amounts which can at any time be 
withdrawn without notice or for which a maturity or 
period of notice of not more than 24 hours or one 
working day has been agreed shall be regarded as 
repayable on demand. 
4. For five years from the date referred to in 
Article 44 (2), the Member States may require or 
permit the classification by maturity of the assets and 
liabilities referred to in this Article to be based on the 
originally agreed maturity or period of notice. 
However, where a credit institution has acquired an 
existing loan not represented by a certificate, the 
Member States shall require classification of that loan 
to be based on the remaining maturity as at the date 
on which it was acquired. 
5. The Member States may permit deviations from 
the provisions of paragraphs 2 to 4 provided that this 
is necessary to provide a true and fair view of the 
credit institution's assets, liabilities, financial position 
and profit or loss. In such cases, credit institutions 
shall indicate in the notes the extent to which they 
have deviated from these provisions. 5. For the purposes of paragraph 4, the originally 
agreed maturity for loans shall be the period between 
the date of first drawing and the date of repayment; 
the period of notice shall be deemed to be the period 
between the date on which notice is given and the date 
on which repayment is to be made; if loans and 
advances or other claims are redeemable by 
No C 83/10 Official Journal of the European Communities 24. 3. 84 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
Article 10 
1. Sale and repurchase transactions are transactions 
which involve the transfer by a credit institution or 
customer (the 'transferor') to another credit 
institution or customer (the 'transferee') of assets 
which belong to it, in particular, bills, claims or 
securities against payment of a specified amount, 
subject to an agreement that the same assets be 
repurchased by the transferor, at the purchase price 
or a different amount determined in advance, at a 
specified or still to be specified date. 
2. If the transferee undertakes to return the assets 
at a date determined in advance or to be determined 
by the transferor, the transaction in question shall be 
deemed to be a genuine sale and repurchase 
transaction. 
3. If, however, the transferee is merely entitled to 
return the assets at the purchase price or for a 
different amount agreed in advance at a specified or 
still to be specified date, the transaction in question 
shall be deemed to be a sale with an option to 
repurchase. 
4. In the case of the genuine sale and repurchase 
transactions referred to in paragraph 2, the assets 
transferred shall continue to be carried on the balance 
sheet of the transferor; the purchase price received by 
the transferor shall be entered as an amount owed to 
the transferee. 
5. In the case referred to in paragraph 3, however, 
the transferor is not entitled to enter in his balance 
sheet the assets transferred, and these items shall be 
carried as assets in the transferee's balance sheet. The 
transferor shall enter in item 3 below the line a 
contingent liability equal to the amount agreed in the 
event of repurchase. 
6. Forward exchange transactions, options, 
transactions involving the issue of debentures with a 
commitment to repurchase all or part of the issue 
before maturity and any similar transactions shall not 
be regarded as sale and repurchase transactions 
within the meaning of this Article. instalments, the agreed maturity shall be the period 
between the date on which such loans and advances or 
other claims arose and the date on which the last 
instalment falls due. 
Article 10 
Unchanged. 
Unchanged. 
Unchanged. 
Unchanged. 
5. In the case referred to in paragraph 3, however, 
the transferor is not entitled to enter in his balance 
sheet the assets transferred, and these items shall be 
carried as assets in the transferee's balance sheet. The 
transferor shall enter in item 3 below the line an 
amount equal to the price agreed in the event of 
repurchase. 
Unchanged. 
Article 11 
Assets: Item 1 
Cash in hand and balances with central banks and 
postal cheque offices 
1. Cash in hand shall comprise legal tender 
including foreign notes and coin. Article 11 
Assets: Item 1 
Cash in hand and balances with central banks and 
postal cheque offices 
Unchanged. 
24. 3. 84 Official Journal of the European Communities No C 83/11 
ORIGINAL PROPOSAL 
2. This item may include only balances with the 
central bank and postal cheque offices of the country 
in which the registered office of the credit institution 
drawing up the balance sheet is located, together with 
balances of the credit institution's branches with such 
bodies in their respective host countries. These 
balances must be readily available at any time. Other 
claims on such bodies shall be shown as loans and 
advances to credit institutions ('Assets' item 3) or as 
loans and advances to customers ('Assets' item 5). 
Articles 12.to 2 
Article 28 
For the presentation of the profit and loss account, 
Member States shall prescribe one or both of the 
layouts contained in Articles 29 and 30. If a Member 
State prescribes both layouts it may allow credit 
institutions to choose between them. 
Articles 29 an 
Article 31 
Article 29, items 1 and 4 (vertical layout) and Article 
30, items A.1 and B.l (horizontal layout). 
Interest receivable and interest payable 
1. Interest receivable shall include all income 
arising from the assets shown in 'Assets', items 1 to 7, 
of the balance sheet regardless of the form in which 
such income is calculated. Interest receivable shall 
also include income arising, through the spreading of 
the discount on a time basis, in the case of assets 
acquired below par value. 
2. Interest payable shall include all charges for 
liabilities shown under 'Liabilities', items 1 to 3, 
regardless of the form in which such charges are 
calculated. Interest payable shall also include charges 
arising, through the spreading of the premium on a 
time basis, in the case of liabilities entered into above 
par value. 
3. Fees and commissions computed on a time basis 
and by reference to the amount of the claim or 
liability shall also be regarded as interest. 
Article 32 AMENDED PROPOSAL 
2. This item may include only balances with the 
central bank and postal cheque offices of the country 
in which the registered office of the credit institution 
drawing up the balance sheet is located, together with 
balances of the credit institution's branches with such 
bodies in their respective host countries. These 
balances must be readily available at any time. 
However, immediate availability shall not be affected 
by monetary policy or banking supervisory 
requirements. Other claims on such bodies shall be 
shown as loans and advances to credit institutions 
('Assets' item 3) or as loans and advances to 
customers ('Assets' item 5). 
7 unchanged 
Article 28 
For the presentation of the profit and loss account, 
Member States shall prescribe the layout contained in 
Article 30. They may also authorize presentation in 
accordance with the layout set out in Article 29. 
unchanged 
Article 31 
Article 29, item 1 and 4 (vertical layout) and Article 
30, items A.l and B.l (horizontal layout). 
Interest receivable and interest payable 
These items shall include: 
1. All income arising from the assets shown in 
'Assets', items 1 to 7, of the balance sheet 
regardless of the form in which such income is 
calculated. This shall also include income arising, 
through the spreading of the discount on a time 
basis, in the case of assets acquired below par 
value. 
2. All charges for liabilities shown under 'Liabilities', 
items 1 to 3, regardless of the form in which such 
charges are calculated. This shall also include 
charges arising, through the spreading of the 
premium on a time basis, in the case of liabilities 
entered into above par value. 
Unchanged. 
unchanged 
No C 83/12 Official Journal of the European Communities 24. 3. 84 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
Article 33 
Article 29, items 3 and 5 (vertical layout) and Article 
30, items A.2 and B.3 (horizontal layout). 
Commissions receivable and commissions payable 
Commissions receivable shall include income in 
respect of all services supplied for the account of 
third parties, and commissions payable shall include 
charges for the use of services of third parties, 
notably: 
— commissions for guarantees, loans administration 
for the account of other lenders and securities 
transactions for the account of third parties, 
— commissions and other charges and income in 
respect of payment transactions, account 
administration charges and commissions for the 
safe custody and administration of securities, 
— commissions for foreign currency transactions and 
for the sale and purchase of coin and precious 
metals for the account of third parties, 
— commissions earned for brokerage services in 
connection with loans, savings or insurance 
contracts. Article 33 
Article 29, items 3 and 5 (vertical layout) and Article 
30, items A.2 and B.3 (horizontal layout). 
Commissions receivable and commissions payable 
Without prejudice to the provisions of Article 31, 
commissions receivable shall include income in 
respect of all services supplied for the account of 
third parties, and commissions payable shall include 
charges for the use of services of third parties, 
notably: 
Unchanged. 
Unchanged. 
Unchanged. 
Unchanged. 
Articles 34 to 35 unchanged 
Article 36 
1. 'Assets', item 9, shall always be valued as fixed 
assets. The assets included in other balance sheet 
items shall be valued as fixed assets where they are 
intended for use on a continuing basis in the normal 
course of the credit institution's activities. 
2. Where reference is made to 'Financial fixed 
assets' in Section 7 of Directive 78/660/EEC, this 
term shall in the case of credit institutions be taken to 
mean participating interests, shares in affiliated under­
takings and securities intended for use on a 
continuing basis in the normal course of the credit 
institution's activities. Article 36 
1. 'Assets', item 10, shall always be valued as fixed 
assets. The assets included in other balance sheet 
items shall be valued as fixed assets where they are 
intended for use on a continuing basis in the normal 
course of the credit institution's activities. 
Unchanged. 
Article 37 
Article 39 of Directive 78/660/EEC shall be applied 
in the valuation of credit institutions' loans and 
advances subject to the following provisions: 
1. Loans and advances to credit institutions and 
customers ('Assets', items 3 and 5), may be shown 
at a lower value than permitted under Article 
39 (1) (b) and (c) of Directive 78/660/EEC, where 
this is necessary in view of the prudence dictated 
by the particular risk attaching to banking 
business. Nevertheless, the difference between this Article 37 
Unchanged. 
Unchanged. 
24. 3. 84 Official Journal of the European Communities No C 83/13 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
lower value and that which would result from the 
application of the provisions mentioned above 
must not be greater than 5 %. 
2. The valuations thus established may be maintained 
until the credit institution drawing up the balance 
sheet wishes to write up the items in order to avoid 
undue fluctuations in value adjustment charges. Unchanged. 
The authorities in the Member States responsible 
for supervising banks and other financial 
institutions shall ensure that the application of the 
provisions of paragraphs 1 and 2 is not used to 
withhold from customers and other credit 
institutions the information they need to gain an 
accurate impression of the position of their business 
partners. The credit institutions shall supply the 
supervisory authorities with all the data necessary 
for this purpose. 
Article 38 unchanged 
Article 39 
1. Article 43 of Directive 78/660/EEC shall apply Unchanged, 
subject to the following provisions. 
2. In place of the information required under 
Article 43 (1) (6) of Directive 78/660/EEC, credit 
institutions shall, in the notes on the accounts, 
provide an analysis of fixed term claims and liabilities 
in respect of credit institutions and customers other 
than credit institutions ('Assets', items 3 (b), (bb), 
5 (b) and 7 and 'Liabilities', items 1 (b), (bb), 2 (b) 
and (c), 3 (b) and 8) in accordance with the following 
periods: 
— up to and including one year, 
— more than one year but less than five years, 
— five years and over. Article 39 
2. In place of the information required under 
Article 43(1) (6) of Directive 78/660/EEC, credit 
institutions shall, in the notes on the accounts, 
provide an analysis of fixed term claims and liabilities 
in respect of credit institutions and customers other 
than credit institutions ('Assets', items 3 (b), (bb), 
5 (b) and 7 and 'Liabilities', items 1 (b), (bb), 2 (b) 
and (c), 3 (b) and 8) in accordance with Article 9 for 
the following periods: 
— up to one year, 
— more than one and up to two years, 
— more than two and up to five years, 
— more than five years. 
In addition, credit institutions shall indicate, in Unchanged. 
respect of the balance sheet items specified above and 
also in respect of 'Assets', item 6, debt securities held 
in portfolio, and 'Liabilities', item 3 (a), debt 
securities issued, what proportion of assets and 
liabilities with an original maturity of five years or 
more will become due within one year of the balance 
sheet date. 
The Member States may stipulate that this infor- Unchanged, 
mation be given in the balance sheet. 
Lastly, credit institutions shall provide information on Unchanged, 
the assets which have been pledged as security for 
their own liabilities (including contingent liabilities); 
the information should be in sufficient detail to 
No C 83/14 Official Journal of the European Communities 24. 3. 84 
ORIGINAL PROPOSAL AMENDED PROPOSAL 
indicate, for each item under 'Liabilities' and for each 
item below the line, the total amount of the assets 
pledged as security. 
3. Where credit institutions have to provide infor- Unchanged, 
mation within the meaning of Article 43 (1) (7) of 
Directive 78/660/EEC in the items below the line, 
such information need not be repeated in the notes 
on the accounts. 
4. In place of the information required under Unchanged. 
Article 43 (1) (8) of Directive 78/660/EEC, credit 
institutions shall indicate in the notes the proportion 
of their operating income (items 1 to 3 and 6 of the 
profit and loss account) which arises from domestic 
and foreign markets respectively. 
5. By way of derogation from Article 43 (1) (13) of Unchanged. 
Directive 78/660/EEC, credit institutions need 
indicate only the amounts of advances and credits 
granted to the members of their administrative, 
managerial and supervisory bodies, and the 
commitments entered into on their behalf by way of 
guarantees of any kind. 
Article 40 
1. The information required under Article 15 (3) of 
Directive 78/660/EEC shall apply to fixed assets as 
defined in Article 36 of this Directive. Article 40 
Unchanged. 
2. The Member States shall require credit 
institutions to give in addition the following infor­
mation in the notes on the accounts: 
(a) a breakdown of the securities included in 'Assets', 
items 6, 7 and 8 into listed and unlisted securities 
and into securities which, pursuant to Article 36 
of this Directive, were or were not valued as fixed 
assets; 
(b) information on the value of leasing transactions 
apportioned between the relevant balance sheet 
items; 
(c) the book values, separately of land and buildings, 
included in 'Assets', item 10, occupied by the 
credit institution and land and buildings held for 
resale; 
(d) a breakdown of 'Assets', item 13, 'Liabilities', 
item 4, charges items 11 and 15 in the vertical 
layout or A.7 and 9 in the horizontal layout and 
income items 6 and 14 in the vertical layout or 
B.6 and 8 in the horizontal layout into their main 
component amounts, where such amounts are 
important for the purpose of assessing the annual 
accounts, as well as explanations of their nature 
and amount; Unchanged. 
(a) a breakdown of the securities included in 'Assets', 
items 6, 7, 8 and 9 into listed and unlisted 
securities and into securities which, pursuant to 
Article 36 of this Directive, were or were not 
valued as fixed assets; 
Unchanged. 
(c) the book values, separately of land and buildings, 
included in 'Assets', item 11, occupied by the 
credit institution and land and buildings held for 
resale; 
(d) a breakdown of 'Assets', item 14, 'Liabilities', 
item 4, charges items 11 and 15 in the vertical 
layout or A.7 and 9 in the horizontal layout and 
income items 6 and 14 in the vertical layout or 
B.6 and 8 in the horizontal layout into their main 
component amounts, where such amounts are 
important for the purpose of assessing the annual 
accounts, as well as explanations of their nature 
and amount; 
24. 3. 84 Official Journal of the European Communities No C 83/15 
ORIGINAL PROPOSAL 
(e) information on the amounts of interest which the 
credit institutions have received for subordinated 
assets in the year under review or have expended 
for subordinated liabilities. 
SECTION 9 
Certain provisions not applicable 
Article 41 
Article 42 
1. The properly authorized annual accounts of 
credit institutions, together with the annual report 
and the opinion of the person responsible for auditing 
the accounts, shall be published in the manner 
required by the legislation in each Member State in 
accordance with Article 3 of Council Directive 
68/151/EEC 0). 
However, for credit institutions not having one of the 
legal forms specified in Article 1 (1) of Directive 
78/660/EEC and not subject to the national 
legislation concerning publication referred to above, 
Member States shall lay down appropriate 
requirements which will at least make the 
abovementioned documents available to the public, on 
demand and without charge, at the registered office 
of the credit institution. 
2. The annual accounts of a credit institution shall 
be published in all Community countries where the 
credit institution has branches as defined by Article 1, 
third indent, of Directive 77/780/EEC, in the official 
language of each country concerned. 
Articles 43 to 4 AMENDED PROPOSAL 
Unchanged. 
SECTION 9 
Certain provisions not applicable 
to smaller companies 
nchanged 
Article 42 
1. The properly authorized annual accounts of 
credit institutions, together with the annual report 
and the opinion of the person responsible for auditing 
the accounts, shall be published in the manner 
required by the legislation in each Member State in 
accordance with Article 3 of Council Directive 
68/151/EEC 0). 
2. However, where the credit institution which 
drew up the consolidated accounts is not established as 
one of the types of company listed in Article 1 (1) of 
Directive 78/660/EEC and is not required by its 
national law to publish the documents referred to in 
paragraph 1 in the same manner as prescribed in 
Article 3 of Directive 68/151/EEC, it must at least 
make them available to the public at its head office. It 
must be possible to obtain a copy of such documents 
on request. The price of such a copy must not exceed 
its administrative cost. 
3. The annual accounts of a credit institution shall 
be published in each Member State where the credit 
institution has branches as defined by Article 1, third 
indent, of Directive 77/780/EEC. Such Member 
States may require that the publication of these 
documents is made in its official language. 
unchanged 
(*) OJ No L 65, 14. 3. 1968, p. 8. (') OJ No L 65, 14. 3. 1968, p. 8.