Council Directive 91/633/EEC of 3 December 1991 implementing Directive 89/299/EEC on the own funds of credit institutions

COUNCIL DIRECTIVE  of 3 December 1991  implementing Directive 89/299/EEC on the own funds of credit institutions  (91/633/EEC)
THE COUNCIL OF THE EUROPEAN COMMUNITIES
,
Having regard to the Treaty establishing the European Economic Community,
Having regard to Council Directive 89/299/EEC of 17 April 1989 on the own funds of credit institutions (1) and in particular Article 6 (2) thereof,
Having regard to the proposal from the Commission,
Whereas Directive 89/229/EEC gives a definition of the own funds of credit institutions including the way by which total own funds are to be calculated;
Whereas since, with regard to the fund for general banking risks within the meaning of Article 38 of Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions (2) there was  no final allocation, Article 6 (2) of Directive 89/299/EEC provides that within six months of the date of implementation the Commission shall propose the final treatment of this item either in original own funds or in additional own funds, in accordance  with the procedure provided for in Article 8;
Whereas the Banking Advisory Committee has expressed its opinion; whereas taking into account the results of discussions wider international fora and in accordance with the treatment of the fund for general banking risks at international level, these  are included within the category of original own funds;
Whereas Directive 89/299/EEC should therefore be amended accordingly,