CAPITULO II: MARCO TEÓRICO
2. FUNDAMENTACIÓN DE LA INVESTIGACIÓN
2.2. LA INSTITUCIONALIZACIÓN DE LOS PROCESOS ASOCIATIVOS.
Ownership
restrictions
AT
75 Factoring banks (it is
noteworthy that factoring is defined as a banking activity under the Austrian Banking Act).
Parts 2 and 3 of the CRR are applied.
None. Part 4 of the CRR is
applied.
None. None. None.
Kapitalanlageges- ellschaften.
None. None. Part 4 of the CRR is
applicable.
None. None. None.
[Promotion companies] None. None. None. None. None. None.
Credit institutions authorised to conduct severance and retirement fund business.
Part 2 of the CRR is applied. Part 3 of the CRR is not applied.
None. Part 4 of the CRR is
applied.
None. None. None.
Notarial trusteeships. As immediately above. None. None. None. None. None.
BE N/A.76 - - - - -
BG N/A. - - - - -
CZ N/A. - - - - -
DE Securitisation special purpose entities.
Provisions of the CRR are applied as if the SPEs are CRR credit institutions. None. However, LCR/NSFR cover securitisations, e.g. None. However, the EU large exposure regime Institutions have to include on and off- balance sheet
In scope are only those SPEs within the meaning of point
75
With Federal Law Gazette I no 184/2013, a definition of ‘credit institution’ was introduced in the Austrian Banking Act (in force 1 January 2014). According to Art 1a. para 1 of the Austrian Banking Act a CRR-credit institution is a credit institution according to point 1 of Article 4(1) of the CRR. Article 1a para 2 explicitly states that for credit institutions (according to that Act) which are not CRR-credit institutions (but are authorised to carry out at least one of the banking transactions listed in Article 1, paragraph 1, no. 1 to 22 of that Act), the provisions of the CRR shall apply as if those entities are CRR credit institutions.
76
69
under the LCR, committed credit and liquidity facilities need to be considered with a draw down rate of 100%. also covers exposures to schemes, including structured finance vehicles. securitisation exposures, e.g. liquidity facilities in the calculation of the leverage ratio.
(66) of Article 4(1) of the CRR.
70
MS
Entity: description
Own funds requirements
Liquidity
requirements
Lending
limits/large
exposures
Leverage ratio
Activity
restrictions
Ownership
restrictions
DK
77
Savings undertakings. If established on or after 1 January 2004, share capital of no less than €1m. There is an exception for savings undertakings established before 1 January 2004 which can have a lower share capital if they had a lower share capital by 1 January 2004. The share capital must be paid in full. Intellectual rights cannot be used as share capital and the share capital cannot be divided into classes with different voting rights. Reporting requirements: Required to submit audited and approved annual reports to the Danish Financial Services Authority as well as a copy of the audit book
None but the undertakings must adhere to good governance rules. Reporting requirements: No specific requirements on the reporting of liquidity. None. (Savings undertakings cannot grant loans at their own expense (since this combined with the permissible activities would require a banking licence).) Reporting requirements: N/A. None. Reporting requirements: N/A. Savings undertakings cannot grant loans at their own expense (since this combined with the permissible activities would require a banking licence).
Danish FSA shall refuse to register lending undertakings or approve savings undertakings if the person or member of management or the beneficial owners of the undertaking have been convicted of a criminal offence and such offence gives reason to believe there is an immediate danger that the position or business may be abused.
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Savings undertaking are regulated by the Financial Business Act. Savings undertakings are defined in the Financial Business Act as an undertaking, which carries out activities that consist of receiving deposits or other repayable funds from the general public either commercially or as a significant part of its operations, and placing of such funds in a manner other than through deposits with a bank, if the undertaking does not carry out banking or other regulated activities. The savings undertakings may not issue loans at their own expense. Generally the savings undertakings that have recently been licensed have invested in securities of different kinds (e.g. Mortgage Obligations) and have been financed though issuing of bonds (structured bonds) to either private or institutional clients.
The regulation of Savings undertakings date back to the 1934 and currently there are only 5 entities licensed as savings undertakings under supervision of the Danish FSA. 3 of which are under liquidation and one is a special undertaking dating back to 1788 that has a social purpose and is financed with deposits. The DFAS does not expect to receive many new applications for license as savings undertakings in the near future.
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comments from the external auditor. Standard company law requirements on notifications and registration also apply.
72
MS
Entity: description
Own funds requirements
Liquidity
requirements
Lending
limits/large
exposures
Leverage ratio
Activity
restrictions
Ownership
restrictions
EE N/A. - - - -
EL78 Factoring, leasing and consumer credit companies.
Subject to Basel 2.5 capital requirements. [Full transposition of the CRD IV/CRR is currently underway.] For leasing companies and consumer credit companies the required minimum amount of capital stands at EUR 9 million and for factoring companies EUR 4.5 million. The CRDIII framework applies for all the above entities. Reporting requirements: Standard CRD supervisory reporting also applies to leasing, factoring and consumer credit companies.
Leasing, factoring and consumer credit companies are exempted from national liquidity supervisory reporting requirements. Reporting requirements: Non- applicable. CRDIII large exposure limits apply to leasing, factoring and consumer credit companies. Reporting requirements: Full CRDIII large exposure reporting requirements apply.
None. No deposit taking is
permitted without a credit institution licence. Financial institutions providing leasing, factoring and consumer credit services should have the respective services as their exclusive/main purpose.
Persons wishing to hold more than 10% of the shares or of the ten largest shareholders are required to be approved by the Bank of Greece in a process similar to that followed for credit institutions.
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The requirements for leasing, factoring and consumer credit companies are set by the Bank of Greece as their competent authority. Taking into consideration the activities and risks undertaken by these entities, it was perceived appropriate from a supervisory perspective to fully apply equivalent rules to the ones applied by banks (Basel). In addition, the decision guaranteed level playing field for leasing and factoring companies that belonged to a consolidating banking group as opposed to those outside the perimeter of a banking group. These rules have been in place since 2009 for leasing and consumer credit companies and since 2001 for factoring companies.