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Article 411 - Definitions

Article 411
Definitions

For the purposes of this Part, the following definitions apply:

(1)

‘financial customer’ means a customer that performs one or more of the activities listed in Annex I to Directive 2013/36/EU as its main business, or is one of the following:

(a)

a credit institution;

(b)

an investment firm;

(c)

an SSPE;

(d)

a CIU;

(e)

a non-open ended investment scheme;

(f)

an insurance undertaking;

(g)

a financial holding company or mixed-financial holding company.

(2)

‘retail deposit’ means a liability to a natural person or to an SME, where the natural person or the SME would qualify for the retail exposure class under the Standardised or IRB approaches for credit risk, or a liability to a company which is eligible for the treatment set out in Article 153(4) and where the aggregate deposits by all such enterprises on a group basis do not exceed EUR 1 million.

Official text · consolidated version 18/01/2015 (no longer in force) Open full page ↗
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