52. When assessing whether the specific expression ‘other repayable funds’ is met, competent …

When assessing whether the specific expression ‘other repayable funds’ is met, competent authorities should refer to ‘financial instruments which possess the intrinsic characteristic of repayability’ as well as ‘those which, although not possessing that characteristic, are the subject of a contractual agreement to repay the funds paid’¹⁵ . They should also take into account that such a notion should include bonds and other comparable securities such as negotiable certificates (not nominative) of deposit, provided these are continually issued by the credit institution¹⁶ .

¹⁵ Court of Justice, 12 February 1999, C-199/97, Romanelli .

¹⁶ Recital 14 CRD reads ‘The scope of measures should therefore be as broad as possible, covering all institutions whose business is to receive repayable funds from the public, whether in the form of deposits or in other forms such as the continuing issue of bonds and other comparable securities […]’ (emphasis added).

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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