Laki maksulaitoslain muuttamisesta | 612 — Finland law | Esheria

Laki maksulaitoslain muuttamisesta

This law does not apply to services provided by a credit institution.

Jurisdiction
Finland
Instrument
Act or statute
Citation
612
Version
Undated source snapshot
Language
fi
Updated
Official source
View official record ↗
beneficial ownership capital requirements cost compensation credit risk customer identification exemption own funds ownership links payment institutions preparedness planning service scope exclusion supervision supervisory powers

Statute overview

About this statute

This law does not apply to services provided by a credit institution. A payment institution must not have a significant connection that would prevent effective supervision. Payment institutions’ own funds are subject to the EU capital requirements rules for credit institutions’ own funds, and rules on share and cooperative capital also apply to monetary capital contributions. A payment institution must hold sufficient own funds in relation to the total amount of credits it has granted. A payment institution meeting the listed EU solvency-regulation conditions is exempt from the rules in sections 30 and 30 a on minimum own funds.

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