Directive 2000/28/EC of the European Parliament and of the Council of 18 September 2000 amending Directive 2000/12/EC relating to the taking up and pursuit of the business of credit institutions
Date: 2000-09-18
Institutions: Council of the European Union, European Parliament
Subjects: credit institution, economic analysis, provision of services

27.10.2000

EN

Official Journal of the European Communities

L 275/37

DIRECTIVE 2000/28/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL

of 18 September 2000

amending Directive 2000/12/EC relating to the taking up and pursuit of the business of credit
institutions

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE
EUROPEAN UNION,

electronic money
money institutions.

institutions (6) defines

electronic

Having regard to the Treaty establishing the European
Community, and in particular the first and third sentences of
Article 47(2) thereof,

(5)

It is necessary for electronic money to be redeemable to
ensure bearer confidence,

Having regard to the proposal from the Commission (1),

Having regard to the opinion of the Economic and Social
Committee (2),

HAVE ADOPTED THIS DIRECTIVE:

Article 1

Having regard to the opinion of the European Central Bank (3),

Directive 2000/12/EC is hereby amended as follows:

Acting in accordance with the procedure laid down in Article
251 of the Treaty (4),

1. Article 1, point 1, first subparagraph shall be replaced by

the following text:

Whereas:

(1)

(2)

(3)

(4)

it is
In accordance with the objectives of the Treaty,
desirable to promote harmonious development of the
activities
the
of
Community,
in particular as regards the issuance of
electronic money.

throughout

institutions

credit

Certain institutions limit their activity primarily to the
issuance of electronic money. To avoid any distortion of
competition between electronic money issuers, even as
regards application of monetary policy measures, it is
advisable that
to suitable
specific provisions taking into account their special char-
acteristics, be brought within the scope of Directive
2000/12/EC (5).

these institutions, subject

It is advisable, consequently, to extend to these institu-
tions the definition of credit institutions provided for in
Article 1 of Directive 2000/12/EC.

Directive 2000/46/EC of the European Parliament and of
the Council of 18 September 2000 on the taking up,
pursuit and prudential supervision of the business of

(1) OJ C 317, 15.10.1998, p. 12.
(2) OJ C 101, 12.4.1999, p. 64.
(3) OJ C 189, 6.7.1999, p. 7.
(4) Opinion of the European Parliament of 15 April 1999 (OJ C 219,
30.7.1999, p. 421), confirmed on 27 October 1999, Council
Common Position of 29 November 1999 (OJ C 26, 28.1.2000, p.
12) and Decision of the European Parliament of 11 April 2000 (not
yet published in the Official Journal).

(5) Directive 2000/12/EC of

the
Council of 20 March 2000 relating to the taking up and pursuit of
the business of credit institutions (OJ L 126, 26.5.2000, p. 1).

the European Parliament and of

‘1. “Credit institution” shall mean:

(a) an undertaking whose business is to receive deposits
or other repayable funds from the public and to
grant credits for its own account; or

(b) an electronic money institution within the meaning
of Directive 2000/46/EC of the European Parliament
and of the Council of 18 September 2000 on the
taking up, pursuit and prudential supervision of the
business of electronic money institutions (*).

(*) OJ L 275, 27.10.2000, p. 39.’

2. The following Article shall be added to Title V:

‘Article 33a

Article 3 of Directive 2000/46/EC shall apply to credit
institutions.’

Article 2

1. Member States shall bring into force the laws, regula-
tions and administrative provisions necessary to comply with
than 27 April 2002. They shall
later
this Directive not
immediately inform the Commission thereof.

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

these measures,

(6) See page 39 of this Official Journal.

L 275/38

EN

Official Journal of the European Communities

27.10.2000

2. Member States shall communicate to the Commission
the text of the main provisions of national
law which they
adopt in the field covered by this Directive.

This Directive is addressed to the Member States.

Article 4

Article 3

This Directive shall enter into force on the day of its publi-
cation in the Official Journal of the European Communities.

Done at Brussels, 18 September 2000.

For the European Parliament

For the Council

The President

N. FONTAINE

The President

H. VÉDRINE