shell bank

Defined in Article 3, Directive 2005/60/EC

Uses as of 25/12/2007

Definitions over time (1)

1. 25/12/2007 – today applies on 25/12/2007 Article 3, Directive 2005/60/EC Scope: Whole act

   For the purposes of this Directive the following definitions shall apply:

   ‘shell bank’ means a credit institution, or an institution engaged in equivalent activities, incorporated in a jurisdiction in which it has no physical presence, involving meaningful mind and management, and which is unaffiliated with a regulated financial group.

Used in (3 places in 2 provisions on 25/12/2007)

Directive 2005/60/EC (3 in 2)

Article 3 · Article 13²