Meaning of CREDIT INSTITUTION in English
- CREDIT INSTITUTION
This term refers to an institution covered by the definition contained in Article 1 (1) of Directive 2000/12/EC of the European Parliament and of the Council of 20 March 2000 relating to the taking up and pursuit of the business of credit institutions, as amended by Directive 2000/28/EC of the European Parliament and of the Council of 18 September 2000. Thus, a credit institution is: (i) an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or (ii) an undertaking or any other legal person, other than those under (i), which issues means of payment in the form of electronic money.
European Central Bank English Glossary. Английский глоссарий Европейского Центрального Банка. 2012