LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES FEBRUARY 2004 LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES FEBRUARY 2004 In 2004 all ECB publications will feature a motif taken This paper can be downloaded from from the €100 banknote. the ECB’s website (http://www.ecb.int). © European Central Bank, 2004 Address Kaiserstrasse 29 60311 Frankfurt am Main, Germany Postal address Postfach 16 03 19 60066 Frankfurt am Main, Germany Telephone +49 69 1344 0 Website http://www.ecb.int Fax +49 69 1344 6000 Telex 411 144 ecb d All rights reserved. Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged. As at end-December 2003. ISSN 1725-3314 (print) ISSN 1725-3322 (online) Contents Section 1 Overview Foreword.................................................................................................................................... vi Definition of terms .....................................................................................................................viii MFI sector analyses: as at the end of December 2003 Chart 1: The EU MFI sector by country and by category....................................................... ix Chart 2: Percentage share of the EU MFI sector by country .................................................. x Chart 3: Percentage share of the EU MFI sector by category ................................................ x Chart 4: Foreign branches in the EU by country of residence and head office location.......... xi MFI sector analyses: 1 January 1999 to end-December 2003 Chart 5: Development of the EU MFI sector .........................................................................xii Chart 6: Total net change in the MFI sector by country.........................................................xii Chart 7: The EU MFI sector by country and by quarter ........................................................xiii Section 2 List of MFIs and institutions subject to minimum reserves Euro area Member States ECB ....................................................................................................................................1 Belgium………………………………………………………………………………………………...2 Germany .............................................................................................................................5 Greece…………………………………………………………………….................................... 47 Spain ................................................................................................................................ 49 France............................................................................................................................... 59 Ireland............................................................................................................................... 88 Italy................................................................................................................................... 97 Luxembourg .................................................................................................................... 112 Netherlands..................................................................................................................... 124 Austria............................................................................................................................. 134 Portugal .......................................................................................................................... 150 Finland............................................................................................................................ 155 Non-euro area Member States Denmark ......................................................................................................................... 162 Sweden........................................................................................................................... 166 United Kingdom............................................................................................................... 171 iii Abbreviations Countries BE Belgium DK Denmark DE Germany GR Greece ES Spain FR France IE Ireland IT Italy LU Luxembourg NL Netherlands AT Austria PT Portugal FI Finland SE Sweden GB, UK United Kingdom Others ECB European Central Bank EU European Union MFIs Monetary Financial Institutions NCBs national central banks Na not applicable Section 1 Overview Foreword Background the national central banks of the EU and the ECB, the List of MFIs includes credit The “List of Monetary Financial Institutions institutions (as defined in Community law), and institutions subject to minimum reserves” money market funds and other institutions (“List of MFIs”) is published by the European fulfilling the definition of an MFI. Central Bank in accordance with Article 3.2 of the Regulation of the European Central The List of MFIs is moreover based on Bank of 22 November 2001 concerning the Article 19.1 of the Statute of the European consolidated balance sheet of the monetary System of Central Banks and of the financial institutions sector (ECB/2001/13), as European Central Bank (Statute of the amended, and Article 2.3 of the Regulation of ESCB), which empowers the ECB to require the European Central Bank of 12 September credit institutions established in the euro area 2003 on the application of minimum reserves to hold minimum reserves in pursuance of (ECB/2003/9). monetary policy objectives. Branches located in the euro area of Aim institutions without a registered office in the euro area are also subject to the This publication relates to the monetary Eurosystem’s minimum reserve requirements. financial institutions sector (MFI sector) as at The ECB may exempt a specific institution if the end of December 2003. it is subject to winding-up proceedings or restructuring measures or if the application of The List of MFIs comprises institutions the Eurosystem’s minimum reserve resident in the European Union (EU) which requirements to the institution concerned comply fully with the definition of an MFI1 and would not serve the intended purpose. Only correspond to Sectors 121 and 122 of the institutions subject to the Eurosystem’s European System of Accounts 1995 minimum reserve requirements are eligible to (ESA 95)2 classification. be counterparties to the Eurosystem’s monetary policy operations. The objectives of the List of MFIs include facilitating the production of a comprehensive and consistent balance sheet of the money- Structure creating sector in the euro area and ensuring that the information on the statistical The introductory pages of this publication reporting population is as complete, accurate provide definitions of relevant terms and and homogeneous as possible. In addition to analyses of the MFI sector in the EU as at 1 Refer to “Definition of terms”. 2 The European System of Accounts 1995 (ESA 95) and Official Journal L 310, 30 November 1996. vi the end of December 2003, including that the information contained in the List of developments since the start of Stage Three MFIs remains up to date, accurate and of Economic and Monetary Union (see consistent. Charts 1 to 7). The List of MFIs is published at the beginning The main body of this document provides a of each calendar year; this is the seventh in comprehensive listing, by country and by the series. category, of the MFIs established in the EU. It also states whether or not each institution This publication is available from the ECB is subject to the Eurosystem’s minimum only in English, with national translations reserve requirements. being left to the discretion of the EU national central banks. All the information in this publication has been provided by the national central banks of the EU Member States. February 2004 It should be noted that, in accordance with Community practice, the EU countries are listed in this publication using the alphabetical order of the country names in their national languages. Status of the publication An updated version of the List of MFIs is published monthly on the ECB’s website (http://www.ecb.int) in the “Monetary Financial Institutions” part of the “MFIs and Eligible assets” section. The full list and updates are made available to the public on the last business day of each calendar month. Procedures for monitoring and continuous checking have been established to ensure vii Definition of terms The terms used in this publication for the categories and attributes of MFIs are defined below: Term Definition Central banks The national central banks of the 15 Member States of the European Union. Credit institutions Any institution falling under the definition contained in the Banking Co-ordination Directive 2000/12/EC of 20 March 2000, as amended by Directive 2000/28/EC of 18 September 2000 (including the exempt credit institutions), whereby credit institution shall mean “(a) an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or (b) an electronic money institution within the meaning of Directive 2000/46/EC of the European Parliament and of the Council of 18 September 2000 on the taking up, pursuit and prudential supervision of the business of electronic money institutions”. Euro area The 12 countries of the European Union participating in Stage Three of Economic and Monetary Union, namely Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal