'2. It shall not apply to:
- the central banks of Member States,
- post office giro institutions,
- in Belgium, the "Institut de Réescompte et de Garantie/Herdiscontering- en Waarborginstituut",
- in Denmark, the "Dansk Eksportfinansieringsfond", the "Danmarks Skibskreditfond" and the "Dansk Landbrugs Realkreditfond",
- in Germany, the "Kreditanstalt für Wiederaufbau", undertakings which are recognized under the "Wohnungsgemeinnützigkeitsgesetz" as bodies of state housing policy and are not mainly engaged in banking transactions and undertakings recognized under that law as non-profit housing undertakings,
- in Greece, the "ÅëëçíéêÞ ÔñÜðåæá Âéïìç÷áíéêÞò Áíáðôýîåùò" (Elliniki Trapeza Viomichanikis Anaptyxeos), the "Ôáìåßï Ðáñáêáôáèçêþí êáé Äáíåßùí" (Tameio Parakatathikon kai Danion) and the "Ôá÷õäñïìéêü ÔáìéåõôÞñéï" (Tahidromiko Tamieftirio),
- in Spain, the "Instituto de Crédito Oficial",
- in France, the "Caisse des dépôts et consignations",
- in Ireland, credit unions and friendly societies,
- in Italy, the "Cassa Depositi et Prestiti",
- in the Netherlands, the "Nederlandse Investingsbank voor Ontwikkelingslanden NV", the "NV Noordelijke Ontwikkelingsmaatschappij", the "NV Industriebank Limburgs Instituut voor Ontwikkeling en Finaniering" and the "Overijsselse Ontwikkelingsmaatschappij NV",
- in Austria, undertakings recognized as housing associations in the public interest and the "Österreichische Kontrollbank AG",
- in Portugal, "Caixas Económicas" existing on 1 January 1986 with the exception of those incorporated as limited companies and of the "Caixa Económica Montepio Geral",
- in Finland, the "Teollisen yhteistyön rahasto Oy/Fonden för industriellt samarbete Ab" and the "Kera Oy/Kera Ab",
- in Sweden, the "Svenska Skeppshypotekskassan",
- in the United Kingdom, the National Savings Bank, the Commonwealth Development Finance Company Ltd, the Agricultural Mortgage Corporation Ltd, the Scottish Agricultural Securities Corporation Ltd, the Crown Agents for overseas governments and administrations, credit unions and municipal banks.`