Proposal for a COUNCIL DIRECTIVE AMENDING ARTICLE 2(2) OF DIRECTIVE 77/780/EEC IN RESPECT OF THE LIST OF PERMANENT EXCLUSIONS OF CERTAIN CREDIT INSTITUTIONS
Date: 1995-11-27
Institutions: European Commission
Subjects: EU Member State, European Economic Area, banking, credit institution, directory, management audit

COMMISSION OF THE EUROPEAN  COMMUNITIES 

Brussels, 27.11.1995 
COM(95) 584  final 

Proposal  for  a 

COUNCIL  DIRECTIVE 

AMENDING ARTICLE 2(2) OF DIRECTIVE 77/780/EEC 
IN RESPECT OF THE LIST OF PERMANENT EXCLUSIONS 
OF CERTAIN CREDIT INSTITUTIONS 

(presented  by the  Commission) 

EXPLANATORY  MEMORANDUM 

I. 

INTRODUCTION 

The  purpose  of  this  proposal  for  a  Directive  is to  amend  the  list  of  credit  institutions 
excluded  from  the  scope  of  the  banking  directives  set  out  in  Article 2(2)  of  Directive 
77/780/EEC  on  the  coordination  of  laws,  regulations  and  administrative  provisions 
relating to the taking up and pursuit of the business of credit institutions 

II. 

EXAMINATION  OF  THE  ARTICLES  IN  THE  PROPOSAL  FOR  A 
DIRECTIVE 

Article  1 : amendment to Article 2(2) of Directive 77/780/EEC 

At  the  request  of  Belgium,  Denmark,  Greece,  Spain,  the  Netherlands,  Portugal  and 
Finland, this article updates the list of institutions excluded  from  the scope of the banking 
directives by removing  specific  institutions whose  exclusion is no longer justified.  At the 
request of Austria a credit institution has been included in the list. 

lUÇ 

PROPOSAL FOR A COUNCIL DIRECTIVE 

AMENDING ARTICLE 2(2) OF DIRECTIVE 77/780/EEC 
IN RESPECT OF THE LIST OF PERMANENT EXCLUSIONS 
OF CERTAIN CREDIT INSTITUTIONS 

THE COUNCIL OF THE EUROPEAN UNION, 

Having regard to the Treaty establishing the European Community, 

Having regard  to the First  Council Directive (77/780/EEC)  of  12 December  1977 on the 
coordination  of  laws,  regulations  and  administrative  provisions  relating  to  the  taking  up 
and  pursuit  of  the  business  of  credit  institutions,1  and  in  particular  Article 2(2)  and  (3) 
thereof, 

Having regard to the proposal from the Commission,2 

Whereas  Article 2(2)  of  Council  Directive  77/780/EEC  provides  that  specific  credit 
institutions  of  some  Member  States  are  permanently  excluded  from  the  scope  of  that 
Directive; 

Whereas  Article 2(3)  of  that  Directive  provides  that  the  Council,  acting  on  a  proposal 
from  the  Commission,  which,  for  this  purpose,  must  consult  the  Banking  Advisory 
Committee,  is to  decide  on  any  amendments  to  the  list  in  paragraph 2;  whereas  certain 
Member States have asked for the list to be revised; 

OJNoL322,  17.12.1977, p. 30. 
Last amended by Directive 95/26/EC, (OJ No L 168, 18.7.1995, p 7) 
O J N o C,  ... 

Whereas adoption of this Directive constitutes the most appropriate means of attaining the 
desired  objectives;  whereas  this  Directive  is limited  to  the  minimum  necessary  to  attain 
these objectives and does not go beyond what is needed for this purpose, 

Whereas  this  Directive  concerns  the  European  Economic  Area  (EEA)  and  whereas  the 
procedure  under  Article 99  of  the  Treaty  on  the  European  Economic  Area  has  been 
complied with; 

Whereas adoption of this Directive has been the subject of consultations with the Banking 
Advisory Committee, which was set up by Council Directive 77/780/EEC, 

HAS ADOPTED THIS DIRECTIVE: 

- 3-

Article  1 

Article 2(2) of Directive 77/780/EEC is replaced by the following: 

"2. 

It shall not apply to: 

the central banks of Member States; 

post office  giro institutions; 

in  Belgium,  the  "Institut  de  Réescompte  et  de  Garantie/Herdiscontering- en 
Waarborginstituut", 

in  Denmark, 
"Dansk  Eksportfinansieringsfond", 
Skibskreditfond"  and the "Dansk Landbrugs  Realkreditfond", 

the 

the 

"Danmarks 

in  Germany,  the  "Kreditanstalt  fur  Wiederaufbau",  undertakings  which  are 
recognized  under  the  "Wohnungsgemeinniitzigkeitsgesetz"  as  bodies  of  state 
housing  policy  and  are  not  mainly  engaged  in  banking  transactions  and 
undertakings recognized under that law as non-profit  housing undertakings; 

in  Greece,  the  "Elliniki  Trapeza  Viomichanikis  Anaptyxeos",  the  "Tameio 
Parakatathikon kai Danion" and the "Tahidromiko Tamieftirio"; 

in Spain, the "Instituto de Crédito Oficial"; 

in France, the "Caisse des dépôts et consignations"; 

in Ireland, credit unions and friendly societies; 

in Italy, the "Cassa Depositi et Prestiti"; 

4-

in the  Netherlands,  the  "Nederlandse  Investeringsbank  voor  Ontwikkelingslanden 
NV",  the  "NV  Noordelijke  Ontwikkelingsmaatschappij",  the  "NV  Industriebank 
Limburgs  Instituut  voor  Ontwikkeling  en  Financiering"  and  the  "Overijsselse 
Ontwikkelingsmaatschappij  NV"; 

in Austria,  undertakings  recognized  as housing  associations  in the  public  interest 
and the "Oesterreichischen Kontrollbank AG"; 

in Portugal,  "Caixas Economicas"  existing  on  1 January  1986 with  the  exception 
of  those  incorporated  as  limited  companies  and  of  the  "Caixa  Economica 
Montepio Geral"; 

in Finland,  the  "Teollisen yhteistyôn rahasto  Oy/Fonden  for  industriellt  samarbete 
Ab" and the "Kera Oy/Kera Ab"; 

in Sweden, the "Svenska Skeppshypotekskassan"; 

in  the  United  Kingdom,  the  National  Savings  Bank,  the  Commonwealth 
Development  Finance Company Ltd, the Agricultural Mortgage  Corporation  Ltd, 
the  Scottish  Agricultural  Securities  Corporation  Ltd,  the  Crown  Agents  for 
overseas governments and administrations, credit unions and municipal banks." 

-5 

Article 2 

Member  States  shall  bring  into force  the  laws,  regulations  and  administrative  provisions 
necessary  for  them  to  comply  with  this  Directive  by  1st  February  1996  They  shall 
forthwith  inform the Commission thereof. 

When  the  Member  States  adopt  those  measures,  they  shall  contain  a  reference  to  this 
Directive  or  shall  be  accompanied  by  such  a  reference  on  the  occasion  of  their  official 
publication.  The methods of making such a reference  shall be laid  down  by the  Member 
States. 

Article 3 

This Directive shall enter into force on the day of its publication in the OfficialJournal  of 
the European ( Communities. 

Article 4 

This Directive is addressed to the Member States. 

Done at 

For the Council 
The President 

L 

ISSN 0254-1475 

COM(95) 584 final 

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