Article 47

Path:
Capital Requirements Directive 4 (CRD4) > TITLE VI > Article 47
Title:
Article 47
Description:
Notification in relation to third-country branches and conditions of access for credit institutions with such branches
Main content:
1. Member States shall not apply to branches of credit institutions having their head office in a third country, when commencing or continuing to carry out their business, provisions which result in more favourable treatment than that accorded to branches of credit institutions having their head office in the Union.
 
2. The competent authorities shall notify the Commission, EBA and the European Banking Committee established by Commission Decision 2004/10/EC (1) of all authorisations for branches granted to credit institutions having their head office in a third country.
 
3. The Union may, through agreements concluded with one or more third countries, agree to apply provisions which accord to branches of a credit institution having its head office in a third country identical treatment throughout the territory of the Union.
 

 

 

(1) OJ L 3, 7.1.2004, p. 36.