FOR THE PURPOSES OF THIS DIRECTIVE:
- " CREDIT INSTITUTION" MEANS, IN ACCORDANCE WITH THE FIRST INDENT OF ARTICLE 1 OF DIRECTIVE 77/780/EEC, AN UNDERTAKING WHOSE BUSINESS IS TO RECEIVE DEPOSITS OR OTHER REPAYABLE FUNDS FROM THE PUBLIC AND TO GRANT CREDITS FOR ITS OWN ACCOUNT,
- " FINANCIAL INSTITUTION" MEANS AN UNDERTAKING, NOT BEING A CREDIT INSTITUTION, WHOSE PRINCIPAL ACTIVITY IS TO GRANT CREDIT FACILITIES (INCLUDING GUARANTEES), TO ACQUIRE PARTICIPATIONS OR TO MAKE INVESTMENTS,
- " PARTICIPATION" MEANS THE OWNERSHIP BY A CREDIT INSTITUTION, DIRECTLY OR INDIRECTLY, OF 25 % OR MORE OF THE CAPITAL OF ANOTHER CREDIT OR FINANCIAL INSTITUTION,
- " SUPERVISION ", PENDING SUBSEQUENT COORDINATION, MEANS THE TECHNIQUES, IN WHATEVER FORM AND HOWEVER IMPLEMENTED, EMPLOYED BY THE COMPETENT AUTHORITIES IN EACH MEMBER STATE IN ORDER TO MONITOR PRUDENTIAL ASPECTS OF A CREDIT INSTITUTION'S BUSINESS,
- " COMPETENT AUTHORITIES" MEANS THE NATIONAL AUTHORITIES WHICH ARE EMPOWERED BY LAW OR REGULATION TO SUPERVISE CREDIT INSTITUTIONS.