Credit Institution. An undertaking the business of which is to take deposits or other repayable funds from the public and to grant credits for its own account, and to which authorisation has been granted to operate within the European Union and European Economic Area countries (EEA):
- an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or
- an electronic money institution within the meaning of Directive 2000/46/EC (1);
Credit institutions are regulated entities and generally require a wikipedia:Banking license to operate
- Directive 2006/48/EC Of the European Parliament and of the Council
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