CELEX: 51995PC0584
Language: en
Date: 1995-11-27
Title: 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

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)
 ---pagebreak---  ---pagebreak---                            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.
 ---pagebreak---                                                   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 , ...
 ---pagebreak--- 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:
 ---pagebreak---                                               -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, the "Dansk Eksportfinansieringsfond",              the    "Danmarks
        Skibskreditfond" and the "Dansk Landbrugs Realkreditfond",
        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";
 ---pagebreak---                                      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."
 ---pagebreak---                                              -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
 ---pagebreak---  ---pagebreak---                                                 L
                                                                  ISSN 0254-1475
                                                            COM(95) 584 final
                                              DOCUMENTS
EN                                                                           10
                                     Catalogue number : CB-CO-95-623-EN-C
                                                             ISBN 92-77-96434-0
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