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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 30 April 2011 - onwards
  Version 2 of 2    

Article 5 Limitations of investments

Repealed from 30 April 2011

1. Electronic money institutions shall have investments of an amount of no less than their financial liabilities related to outstanding electronic money in the following assets only:

(a) asset items which according to Article 43(1)(a)(1), (2), (3) and (4) and Article 44(1) of Directive 2000/12/EC attract a zero credit risk weighting and which are sufficiently liquid;

(b) sight deposits held with Zone A credit institutions as defined in Directive 2000/12/EC; and

(c) debt instruments which are:

(i) sufficiently liquid;

(ii) not covered by paragraph 1(a);

(iii) recognised by competent authorities as qualifying items within the meaning of Article 2(12) of Directive 93/6/EEC; and

(iv) issued by undertakings other than undertakings which have a qualifying holding, as defined in Article 1 of Directive 2000/12/EC, in the electronic money institution concerned or which must be included in those undertakings' consolidated accounts.

2. Investments referred to in paragraph 1(b) and (c) may no

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