This approach is consistent with the home country control principle that is the basis for the EU's banking Directives
. It means that the administrative authorities or courts of the home Member State have sole jurisdiction in cases where banks go under.
Clients are capitalizing on the opportunity for greater trust and transparency using blockchain across a variety of industries, for example to better manage the reconciliation of international mobile phone roaming charges, securing digital identity for citizens, and complying with new European banking directives
on customer communications," read the(https://newsroom.ibm.com/2018-11-14-Leading-European-Companies-Select-IBM-Blockchain-to-Drive-Innovation) announcement from IBM.
CEBS advises the Commission on banking and the implementation of banking Directives
. It also watches over supervisory practices.
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.
On free movement of services, Hungary won a transitional period until the end of 2007 for full application of the investor compensation scheme (subject to a number of safeguards), and exemption of two specialised financial institutions (Eximbank and Hungary Development Bank) from the scope of the banking Directives. The EU decided that because the banks have public policy objectives, are governed by special prudential rules, and have limited activity, they are unlikely to significantly distort competition.
Closure of services was possible because the earlier Czech request for exclusion of the Consolidation Bank from the scope of the banking directives has become redundant, since the bank will no longer exist upon accession, and similar requests concerning the Czech-Moravian Guarantee and Development Bank and the Czech Export Bank have been dropped; but the chapter still remains linked to free movement of persons and to acquisition of real estate by non-residents.
This approach is consistent with the home country principle that forms the basis for the EU's banking Directives
. It was identified as a top priority for the Financial Services Action Plan and its importance was reiterated at the Lisbon Summit in March 2000.--