BCE ECB EZB EKP EKT LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES February 2003 LIST OF MONETARY FINANCIAL INSTITUTIONS AND INSTITUTIONS SUBJECT TO MINIMUM RESERVES February 2003 © European Central Bank, 2003 Address Kaiserstrasse 29 D-60311 Frankfurt am Main Germany Postal address Postfach 16 03 19 D-60066 Frankfurt am Main Germany Telephone +49 69 1344 0 Internet 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 2002. ISSN 1725-3314 (print) ISSN 1725-3322 (online) Contents Section 1 Overview Foreword.................................................................................................................................... vi Definition of terms .....................................................................................................................viii MFI sector analyses: as at end-December 2002 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 2002 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…………………………………………………………………….................................... 49 Spain ................................................................................................................................51 France...............................................................................................................................61 Ireland...............................................................................................................................91 Italy ................................................................................................................................. 100 Luxembourg....................................................................................................................115 Netherlands.....................................................................................................................127 Austria.............................................................................................................................135 Portugal ..........................................................................................................................155 Finland............................................................................................................................160 Non-euro area Member States Denmark .........................................................................................................................168 Sweden...........................................................................................................................171 United Kingdom............................................................................................................... 175 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 n/a not applicable iv Section 1 Overview Foreword Background and homogeneous as possible. In addition to the national central banks of the EU and the The “List of Monetary Financial Institutions ECB, the List of MFIs includes credit and institutions subject to minimum reserves” institutions as defined in Community law, (“List of MFIs”) is published by the European money market funds and other institutions Central Bank in accordance with Article 3.2 of fulfilling the definition of an MFI. the Regulation of the European Central Bank of 22 November 2001 concerning the The List of MFIs is also based on Article 19.1 consolidated balance sheet of the monetary of the Statute of the European System of financial institutions sector (ECB/2001/13), as Central Banks and of the European Central amended, and Article 2.3 of the Regulation of Bank (Statute of the ESCB), which empowers the European Central Bank of 1 December the ECB to require credit institutions 1998, on the application of minimum reserves established in the euro area to hold minimum (ECB/1998/15),1 as amended. reserves in pursuance of monetary policy objectives. Aim Branches located in the euro area of institutions without a registered office in the This publication relates to the Monetary euro area are also subject to the Financial Institutions sector (MFI sector) as at Eurosystem’s minimum reserve requirements. end-December 2002. The ECB may exempt a specific institution if it is subject to winding-up proceedings or The List of MFIs comprises institutions restructuring measures or if the application of resident in the European Union (EU) which the Eurosystem’s minimum reserve fully comply with the definition of an MFI2 and requirements to the institution concerned did correspond to Sectors 121 and 122 of the not serve the intended purpose. Only European System of Accounts 1995 institutions subject to the Eurosystem’s (ESA 95)3 classification. minimum reserve requirements are eligible to be counterparties to the Eurosystem’s The objectives of the List of MFIs include monetary policy operations. facilitating the production of a comprehensive and consistent balance sheet for the money- creating sector in the euro area and ensuring Structure that the information on the statistical reporting population is as complete, accurate The introductory pages of this publication provide definitions of relevant terms and analyses of the MFI sector in the EU as at 1 Official Journal L 356, 30 December 1998. 2 See the “Definition of terms” below. end-December 2002, including developments 3 The European System of Accounts 1995 (ESA 95) and Official Journal L 310, 30 November 1996. vi since the since the start of Stage Three of the This publication is available from the ECB in Economic and Monetary Union (see Charts 1 English, with national translations being left to 7). to the discretion of the EU national central banks. The main body of this document provides a comprehensive listing, by country and by In accordance with Community practice, the category, of the MFIs established in the EU. EU countries in this publication are listed It also states whether or not each institution using the alphabetical order of the country is subject to the Eurosystem’s minimum names in the national languages. reserve requirements. All the information in this publication has February 2003 been provided by the national central banks of the EU Member States. 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 that the information contained in the List of MFIs remains up-to-date, accurate and consistent. The List of MFIs is published at the beginning of each calendar year; this is the sixth in the series. 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 and Finland. It should be noted that Greece