43. Competent authorities should assess that the applicant meets all the elements of the definition …

Competent authorities should assess that the applicant meets all the elements of the definition of a credit institution set out in point (1), letter (a) of Article 4(1) of CRR – ‘an undertaking the business of which is to take deposits or other repayable funds from the public and to grant credit for its own account’. In particular, they should assess that both the activity of ‘taking deposits or other repayable funds from the public’ and of ‘granting credit for its own account’ will be exercised by the applicant credit institution.

1. Overview

1.1 References

• Article 4 1.

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/