(11)In order to respond to the specific risks associated with the issuance of electronic money this prudential supervisory regime must be more targeted and, accordingly, less cumbersome than the prudential supervisory regime applying to credit institutions, notably as regards reduced initial capital requirements and the non-application of Directive 93/6/EEC(6) and Title V, Chapter 2, Sections II and III of Directive 2000/12/EC.
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New version applies from 30/04/2011 — introduced by Directive 2009/110/EC.
32 provisions change.
Recital 11 is deleted from 30/04/2011.