The proposal contains two parts: a directive governing the access to deposit-taking activities and a regulation governing how activities of credit institutions and investment firms are carried out.

Please remove spaces between words.
Theproposalcontainstwoparts:adirectivegoverningtheaccesstodeposit-takingactivitiesandaregulationgoverninghowactivitiesofcreditinstitutionsandinvestmentfirmsarecarriedout.