EBA欧洲银行-2014-11-27-EBA-Report-Credit-institutions_91页_1mb

报告摘要

EBA Report Summary: Perimeter of Credit Institutions in the EU

Core Content

This EBA report, dated 27 November 2014, addresses the perimeter of credit institutions established in EU Member States, focusing on the definition and interpretation of the term "credit institution" under EU regulations, particularly the CRR (Regulation (EU) No 575/2013) and CRD IV (Directive 2013/36/EU). The report is a response to the European Commission's request to analyze the systemic risks associated with entities engaging in bank-like activities but falling outside the scope of prudential regulation.

Main Objectives

To identify variations in the interpretation of the term "credit institution" across Member States.
To assess exclusions from the scope of CRD IV/CRR under Article 2(5) and Article 9(2).
To evaluate entities carrying out bank-like activities without being subject to solo prudential requirements.
To consider clarifications to ensure a uniform interpretation of the term "credit institution" across the EU.

Key Findings

1. Definition of 'Credit Institution'

The definition is based on Article 4(1)(1) of the CRR: an entity that takes deposits or other repayable funds from the public and grants credit for its own account.
Key terms such as "deposits," "other repayable funds," "granting credit," and "the public" are not defined in the CRR, leading to interpretative differences among Member States.
The EBA does not recommend changing the scope of the prudential framework but suggests clarifications to promote convergence and reduce risk variation.

2. 'Deposit' and 'Other Repayable Funds'

Variations exist in how Member States define these terms:
- No statutory definition: AT, BE, DK, EE, EL, ES, LU, PL, PT, SE
- Defined 'deposit' only: CY, CZ, FI, HR, IE, LV, NL, RO, SI, SK, UK
- Defined both: BG, DE, LT
The EBA proposes a common definition that includes:
- A sum of money
- Repayable on demand or at a contractually agreed time
- Received from third parties
- In the course of business
Exclusions for "deposits" include:
- Funds not repayable at par
- Funds received in the context of services or property provision
- Funds that are market negotiable instruments
A definition of 'other repayable funds' could include bonds and negotiable certificates of deposit, provided they are continuously issued.

3. 'Granting Credit'

Most Member States interpret "granting credit" broadly as any credit transaction by way of business.
Examples include financial leasing, purchase credit, consumer credit, mortgage credit, pledges, guarantees, credit lines, and overdrafts.
The EBA suggests clarifying the term to include specific examples and define "on its own account" as the entity being the creditor.

4. 'The Public'

The term is not defined in most Member States, but the EBA suggests a definition based on objective business activities (i.e., deposit-taking and granting credit).
A threshold-based definition (e.g., minimum number of depositors) is considered inappropriate due to the potential for gaming and the complexity of risk assessment.

5. Connection Between Deposit Acceptance and Credit Granting

The EBA recommends clarifying that entities must use deposits for their own account, particularly to grant credit, to demonstrate the link between the two core activities.
This is reflected in the approaches of FR, HR, and the UK.

Exclusions from CRD IV/CRR Scope

Article 2(5) of CRD IV

The EBA reviewed the exclusions in points (3) to (23) and found that most remain valid due to public function or scale.
Point (6) exclusion (Wohnungsgemeinnützigkeitsgesetz) is no longer applicable as the law has been repealed.

Article 9(2) of CRD IV

Excludes non-credit institutions from taking deposits or other repayable funds from the public.
Examples of excluded entities include:
- Companies issuing corporate bonds not central to their activities
- Trustee savings banks and building societies in Ireland
- Managers, trustees, or custodians of investment funds
- Insurance undertakings in capital operations
- Inläningsföretag in Sweden
The EBA notes the need for further analysis due to limited responses from competent authorities.

Entities Not Subject to Solo Prudential Requirements

The EBA's second survey identified entities engaging in bank-like activities but not regulated under EU prudential measures.
These entities are not covered by solo prudential requirements under national or EU law.
Some Member States, like Spain, have national measures that apply similar prudential requirements to entities outside the CRR scope, such as Establecimientos Financieros de Crédito (EFCs).

Conclusion and Recommendations

The EBA emphasizes the importance of a uniform interpretation of the term "credit institution" to ensure financial stability and consistent regulation across the EU.
It does not propose specific changes to the perimeter but suggests clarifications to the definition to reduce interpretative variations.
The EBA recommends considering the FSB's recommendations and Basel Committee guidelines to align EU standards with global prudential frameworks.
Further work is needed to fully understand the application of exclusions in Article 9(2) of CRD IV.

Key Entities and Activities Covered

Central banks, post office giro institutions, and state-controlled entities are traditionally excluded from the scope of credit institution regulation.
Non-credit institutions that engage in bank-like activities (e.g., issuing bonds, managing funds) may be exempt under certain conditions.
Entities not subject to prudential requirements include:
- EFCs in Spain
- Non-core bond issuers
- Trustee banks and building societies
- Investment fund service providers
- Insurance undertakings in capital operations

Relevance to EU Financial Regulation

The report is relevant to CRD IV, CRR, DGSD (recast), BRRD, Single Supervision Mechanism, and Single Resolution Mechanism.
Ensuring a consistent perimeter is crucial for passporting rights, risk management, and financial stability across the EU.