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Bilateral Memoranda of Understanding

Bilateral Memoranda of Understanding between the Bank of Greece and Foreign Authorities

Here you can find information on bilateral MoUs signed by the Bank of Greece with foreign supervisory authorities.

Bilateral MoUs are drafted in a uniform manner and in line with the Core Principles for Effective Banking Supervision established by the Basel Committee on Banking Supervision, which also apply to non-EU countries. These MoUs provide the basis for cooperation and direct communication between the Banking Supervision Department and relevant foreign supervisory authorities on matters relating to: 

  • authorisation of credit institutions and establishment of branches and subsidiaries;
  • exchange of supervisory information, in particular regarding the performance of banking institutions operating in the host country and any problems identified in the course of the host country’s supervisory processes, including on-site examinations;
  • ’fit and proper’ tests for managers of foreign branches of domestic credit institutions;
  • arrangements for the conduct of on-site examinations in host countries by the Banking Supervision Department;
  • monitoring of specific risks;
  • crisis management issues;
  • other ad hoc issues.

The names of the countries and respective supervisory authorities with which the Bank of Greece has signed MoUs are given in the tables below. TABLE A contains the EU Member States, while TABLE B contains third countries.

MoUs with the Central Bank of Egypt, the Bank of Russia and the South African Reserve Bank are under discussion. Moreover, since 2002 the Bank of Greece has established cooperation with the Swiss Federal Banking Commission, through the exchange of letters, on matters concerning the supervision on a sub-consolidated basis of the activities in the Balkans of a specific banking group.

Please use the relevant links on the right-hand menu to access information on any of these foreign authorities.

TABLE A

 EU Member State  Supervisory authority
 Italy  Banca d’Italia
 The Netherlands  De Nederlandsche Bank
 Germany  Bundesanstalt für Finanzdiensleistungsaufsicht
 France  Commission Bancaire
 United Kingdom  Financial Services Authority (FSA)
 Cyprus  Central Bank of Cyprus
 Romania  National Bank of Romania
 Bulgaria  Bulgarian National Bank

TABLE B

Third countries

Supervisory authority

Albania

Bank of Albania

Serbia

National Bank of Serbia

Turkey

Banking Regulatory and Supervisory Agency of Turkey

Ukraine

National Bank of Ukraine

Former Yugoslav Republic of Macedonia

National Bank of the Republic of Macedonia (this is the statutory name of the central bank of FYROM and the Bank of Greece has stated Greece's established reservations regarding this specific use of the word "Macedonia")


 
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