In addition to the provisions of Law 4261/2014 and Directive 2013/36/EU concerning the terms and conditions of establishment and operation of credit institutions, the regulatory framework on the establishment and operation of credit institutions includes Executive Committee Act 142/11.6.2018 and Banking and Credit Committee Decision 211/1/5.12.2005.
Especially for branches of credit institutions based in countries outside the European Union, the regulatory framework on the establishment and operation is laid down in Executive Committee Act 58/18.1.2016.
"Procedures for (a) the authorization of credit institutions in Greece; (b) the acquisition of, or increase in, a holding in credit institutions; and (c) the taking up of a post as a member of the board of directors and as a key function holder of credit institutions" (not official translation).
This Act consolidates provisions on the authorization of credit institutions in Greece and the acquisition or increase of a qualifying holding in an existing credit institution. Furthermore, it specifies the required data and information to be submitted by credit institutions’ proposed shareholders, members of the management body and key function holders in order for the Bank of Greece to carry out a prudential assessment of the suitability of these persons.
It should be pointed out that, under Regulation (EU) 468/2014, the above procedures are the so-called "common procedures", which are ultimately decided upon by the European Central Bank for all credit institutions of Member States participating in the Single Supervisory Mechanism. This Regulation also sets out the details of cooperation with National Competent Authorities. Pertinent information is also provided in the relevant section of the European Central Bank's website on banking supervision.
Below you can find links to the Annexes to this Act, which are to be completed as prescribed in Chapters A, B and C thereof.
- Annex I
- Application form for authorization as a credit institution pdf 1 doc 1
- Annex II
- Questionnaire Assessment of proposed acquisition of a holding by natural persons pdf 2 doc 2
- Questionnaire Assessment of proposed acquisition of a holding by legal persons pdf 3 doc 3
- Questionnaire Fit and proper assessment of members of the board of directors and key function holders pdf 4 doc 4
- Annex III
- Disclosure requirements associated with the amount of acquisition of a holding by a proposed acquirer pdf 5 doc 5
For using a computer to fill the Annexes, please save the files in .doc format, use Tab to move to the next question and Shift + Tab to return to a previous question. Annexes are to be completed and submitted to the Bank of Greece according to the relevant instructions.
Banking and Credit Committee Decision 211/1/5.12.2005
"Supplement to Bank of Greece Governor's Act 2526/8.12.2003 concerning the terms and conditions for authorizing credit institutions based abroad to establish and operate Representative Offices in Greece".
Banking and Credit Committee Decision 211/1/5.12.2005 supplemented Bank of Greece Governor's Act 2526/8.12.2003 with terms and conditions for authorizing credit institutions based abroad to establish and operate Representative Offices in Greece.
“Establishment and operation of branches of credit institutions established in third countries – Prudential supervision – Withdrawal of authorization”.
This Act codifies, among others, the provisions concerning the terms and conditions for authorizing credit institutions established in third countries to establish and operate branches in Greece.
Below you can find the link to the Annex to this Act, which refers to the application that the credit institution established in a third country submits to the Bank of Greece.
- Application for authorization of a branch of a credit institution established in a third country pdf doc