Banking Directives

Banking Directives

Banking regulations instituted in Europe in the 1970s and 1980s in anticipation of the introduction of the euro. The first banking directive encourages cooperation between EU nations in the establishment and regulation of credit institutions. The consolidated supervision directive requires two institutions in different countries to be regulated on a supranational basis if one owns more than 25% of the other. Finally, the second directive created a single banking license throughout the EU.
References in periodicals archive ?
Until recently, observers generally thought both directives would begin operation at the same time as the banking directives because the 2BD gives banks (and other credit institutions) the right to do securities business throughout the EC on a single passport basis.
In the 1992 legislation, the Second Coordinating Banking Directive (2BD) is the primary banking directive.
This belief stems partly from the "Reciprocity Clause" in early drafts of the Second Banking Directive.
2] The general structure of the reciprocity clause in the Second Banking Directive is expected to be copied for the other major areas of financial services, including investment services and insurance.