The terms and conditions for the establishment and operation of credit institutions in Greece are laid down in Law 4261/2014 and Directive 2013/36/EU and are further specified in the Executive Committee Act 142/11.6.2018 (as amended by the Executive Committee Act 178/4/2.10.2020), the Executive Committee Act 205/1/18.05.2022 and the 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 their establishment and operation is laid down in Executive Committee Act 58/18.1.2016.
Finally, the terms and conditions for the granting of approval or exemption from approval to parent financial holding companies and parent mixed financial holding companies of banking groups, according to article 22A of Law 4261/2014, are further specified in Executive Committee Act 190/1/16.06.2021.
"Procedures for (a) the authorisation 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".
This Act codifies provisions on the authorisation of credit institutions in Greece and the acquisition or increase of a qualifying holding in an existing credit institution. Furthermore, it specifies the data and information required to be submitted by candidate shareholders, members of the board of directors and key function holders of credit institutions in order for the Bank of Greece to carry out a prudential assessment of the suitability of these persons “fit and proper assessment”).
The procedures on the authorisation of credit institutions in Greece and the acquisition or increase of a qualifying holding in an existing credit institution are the “common procedures” as defined in Regulation (EU) 468/2014 (ECB/2014/17), on which the final decision lies with the European Central Bank with respect to 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 (NCAs). Relevant information is also available on the banking supervision website of the European Central Bank.
Below you can find links to the Annexes to this Act, with forms that are to be filled out according to the instructions provided in Chapters A, B and C of the Act.
- 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
This questionnaire is not used by significant credit institutions, significant financial holding companies and significant mixed financial holding companies pursuant to article 22A of Law 4261/2014 in accordance with the Executive Committee Act 205/1/18.05.2022. From the 15th of June 2022 onwards, these institutions shall submit the questionnaire of this ECA electronically, through the following dedicated portal of the European Central Bank: Banking supervision portal (europa.eu)
- Annex III
- Information requirements associated with the amount of acquisition of a holding by a proposed acquirer pdf 5 doc 5
The abovementioned Annexes may also be submitted online. To this end, please save the files in .doc format, use Tab to move to the next question and Shift + Tab to return to a previous question. The Annexes are to be completed and submitted to the Bank of Greece according to the relevant instructions.
Executive Committee Act 205/1/18.05.2022
«Adoption of the Questionnaire for the Fit and Proper Assessment of Members of the Board of Directors and Key Function Holders of Significant Institutions»
This Executive Committee Act incorporates the European Central Bank's questionnaire (ECB FAP Questionnaire) adopted by its Board of Supervisors on the 25th of November 2021 on assessing the suitability of members of the Board of Directors and the Key Function Holders of credit institutions, financial holding companies and mixed financial holding companies considered 'significant' in accordance with Regulation (EU) 1024/2013 and Regulation (EU) 468/2014, including the “National Specificities”, namely the information required to be submitted according to the national framework.
This questionnaire is used for the purposes of applying the provisions of Chapter C of the Executive Committee Act 142/11.6.2018, with the exception of the suitability assessment of the “AML/CTF officer” pursuant to article 38 of Law 4557/2018, as well as for the purposes of licensing a significant credit institution or approving significant financial holding companies and significant mixed financial holding companies. In addition, this questionnaire is also used in the context of a qualifying holding assessment in the abovementioned institutions.
This questionnaire shall be submitted electronically via the following dedicated portal of the European Central Bank: Banking supervision portal (europa.eu)
Please find below, the links relating to the ECB FAP Questionnaire and to the National Specificities supplementing the latter.
Links:
- ECA 205/1/18.05.2022 (unofficial translation without Annex)
- ECB FAP Questionnaire
- National Specificities-Greece
- Declaration by the appointee (it accompanies the ECB FAP Questionnaire above)
- Declaration by the institution (it accompanies the ECB FAP Questionnaire above)
Banking and Credit Committee Decision 211/1/5.12.2005
"Supplementation of Bank of Greece Governor’s Act 2526/8.12.2003 with the terms and conditions for the authorisation of Representative Offices in Greece of credit institutions based abroad".
Banking and Credit Committee Decision 211/1/5.12.2005 supplemented Bank of Greece Governor’s Act 2526/8.12.2003 by specifying the terms and conditions for authorising credit institutions based abroad to establish and operate Representative Offices in Greece.
“Establishment and operation of branches of credit institutions based in third countries – Prudential supervision – Withdrawal of authorisation”.
This Act, among other things, codifies the provisions on the terms and conditions for the authorisation of domestic branches of credit institutions based in third countries.
Below you can find a link to the Annex to this Act, which contains the application form to be submitted to the Bank of Greece by the third-country credit institution.
- Annex
- Application for authorization of a branch of a credit institution based in a third country pdf doc
Links
- Questionnaire: Fit and proper assessment of members of the board of directors and key function holders
pdf 4 doc 4
Executive Committee Act 190/1/16.06.2021
“Terms and conditions for granting approval or exemption from approval of financial holding companies or mixed financial holding companies under Article 22A of Law 4261/2014”
This Act further specifies the terms and conditions of new Article 22A of Law 4261/2014 as regards the granting of approval or exemption from approval of parent financial holding companies and parent mixed financial holding companies of banking groups. Law 4799/2021 which incorporates Directive (EU) 2019/878 (CRD 5) and amends Law 4261/2014, introduces a new obligation for a special approval of parent holding companies of banking groups from the Bank of Greece, in its capacity either as consolidating supervisor or as competent authority in the Member State where they are established. The new framework, also, provides for the possibility of granting exemption from approval provided that certain conditions are met.
Below you can find links to the Annexes to this Act, concerning the application forms for approval or exemption from approval.
- Annex Ι
o Application Form for approval under Article 22A of Law 4261/2014 pdf 1 doc 1
- Annex ΙΙ
o Application Form for exemption from approval under Article 22A of Law 4261/2014 pdf 2 doc 2