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New version applies from 12/01/2016 — introduced by Payment Services Directive (PSD2). 80 provisions change. Later versions: 30/03/2019, 01/01/2020, 26/06/2021, 30/12/2024, 10/11/2025, 31/12/2025. Article 4 changes in this version: compare with the current text.

Article 4 - Definitions

Article 4
Definitions

For the purposes of this Regulation the following definitions apply:

(1)

‘financial institutions’ means ‘credit institutions’ as defined in Article 4(1) of Directive 2006/48/EC, ‘investment firms’ as defined in Article 3(1)(b) of Directive 2006/49/EC, and ‘financial conglomerates’ as defined in Article 2(14) of Directive 2002/87/EC, save that, with regard to Directive 2005/60/EC, ‘financial institutions’ means credit institutions and financial institutions as defined in Article 3(1) and (2) of that Directive;

(2)

‘competent authorities’ means:

(i)

competent authorities as defined in point (40) of Article 4(1) of Regulation (EU) No 575/2013, including the European Central Bank with regard to matters relating to the tasks conferred on it by Regulation (EU) No 1024/2013, in Directive 2007/64/EC, and as referred to in Directive 2009/110/EC;

(ii)

with regard to Directives 2002/65/EC and 2005/60/EC, the authorities competent for ensuring compliance with the requirements of those Directives by credit and financial institutions;

(iii)

with regard to deposit guarantee schemes, bodies which administer deposit guarantee schemes pursuant to Directive 2014/49/EU of the European Parliament and of the Council 43, or, where the operation of the deposit guarantee scheme is administered by a private company, the public authority supervising those schemes pursuant to that Directive; and

(iv)

with regard to Directive 2014/59/EU of the European Parliament and of the Council 44 and to Regulation (EU) No 806/2014 of the European Parliament and of the Council 45, the resolution authorities, defined in Article 3 of Directive 2014/59/EU, the Single Resolution Board, established by Regulation (EU) No 806/2014, and the Council and the Commission when taking actions under Article 18 of Regulation (EU) No 806/2014, except where they exercise discretionary powers or make policy choices.

  1. 43 Directive 2014/49/EU of the European Parliament and of the Council of 16 April 2014 on deposit guarantee scheme (OJ L 173, 12.6.2014, p. 149). ↩
  2. 45 Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ L 225, 30.7.2014, p. 1). ↩
  3. 44 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190). ↩
Official text · consolidated version 19/08/2014 (no longer in force) Open full page ↗
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