Article 411

Description
Definitions
Main content

For the purposes of this Part, the following definitions apply:

 

(1) ‘financial customer’ means a customer that performs one or more of the activities listed in Annex I to Directive 2013/36/EU as its main business, or is one of the following:

(a) a credit institution;

(b) an investment firm;

(c) an SSPE;

(d) a CIU;

(e) a non-open ended investment scheme;

(f) an insurance undertaking;

(g) a financial holding company or mixed-financial holding company.

(2) ‘retail deposit’ means a liability to a natural person or to an SME, where the natural person or the SME would qualify for the retail exposure class under the Standardised or IRB approaches for credit risk, or a liability to a company which is eligible for the treatment set out in Article 153(4) and where the aggregate deposits by all such enterprises on a group basis do not exceed EUR 1 million.