LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES FEBRUARY 2005 LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES FEBRUARY 2005 In 2005 all ECB publications will feature a motif taken This paper can be downloaded from from the €50 banknote. the ECB’s website (http://www.ecb.int). © European Central Bank, 2005 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 2004. 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 2004 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 2004 Chart 5: Development of the EU MFI sector............................................................................ xii Chart 6: Total net change in the MFI sector by country........................................................... xii Section 2 List of MFIs and institutions subject to minimum reserves Euro area Member States ECB ..........................................................................................................................................1 Belgium .. ……………………………………………………………………………………………...2 Germany...................................................................................................................................5 Greece…………………………………………………………………… .....................................46 Spain ......................................................................................................................................48 France ....................................................................................................................................58 Ireland ....................................................................................................................................89 Italy.........................................................................................................................................99 Luxembourg .........................................................................................................................114 Netherlands ..........................................................................................................................126 Austria ..................................................................................................................................135 Portugal ................................................................................................................................151 Finland..................................................................................................................................156 Non-euro area Member States Czech Republic ....................................................................................................................163 Denmark...............................................................................................................................165 Estonia .................................................................................................................................169 Cyprus ..................................................................................................................................170 Latvia……………………………………………………………………......................................178 Lithuania...............................................................................................................................180 Hungary................................................................................................................................182 Malta.....................................................................................................................................186 Poland ..................................................................................................................................187 Slovakia................................................................................................................................201 Slovenia................................................................................................................................200 Sweden ................................................................................................................................202 United Kingdom....................................................................................................................207 iii Abbreviations Countries BE Belgium DE Germany GR Greece ES Spain FR France IE Ireland IT Italy LU Luxembourg NL Netherlands AT Austria PT Portugal FI Finland CZ Czech Republic DK Denmark EE Estonia CY Cyprus LV Latvia LT Lithuania HU Hungary MT Malta PL Poland SI Slovenia SK Slovakia SE Sweden UK United Kingdom Others ECB European Central Bank EU European Union MFIs Monetary Financial Institutions NCBs national central banks n/a not applicable Section 1 Overview Foreword and homogeneous as possible. In addition to 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 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) European Central Bank (Statute of the and Article 2.3 of the Regulation of the ESCB), which empowers the ECB to require 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 2004. 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 MFI2 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)3 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 analyses of the MFI sector in the EU as at 12 See the “Definition of terms” below. the end of December 2004, including 3 The European System of Accounts 1995 (ESA 95) developments since the start of Stage Three and Official Journal L 310, 30 November 1996. vi of Economic and Monetary Union (see Charts 1 to 6). MFIs of new Member States that the information contained in the List of are included in the list as of May 2004 upon MFIs remains up-to-date, accurate and their accession to the EU. consistent. The main body of this document provides a The List of MFIs is published at the beginning comprehensive listing, by country and by of each calendar year; this is the eighth in the category, of the MFIs established in the EU. series. It also states whether or not each institution is subject to the Eurosystem’s minimum This publication is available from the ECB reserve requirements. only in English, with national translations being left to the discretion of the EU national All the information in this publication has central banks. been provided by the national central banks of the EU Member States. February 2005 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 the national languages. Status of the publication An