(1)

Article 2 of Directive 2006/48/EC lists those institutions explicitly excluded from the scope of application of that Directive.

(2)

The Danish Ministry of Economic and Business Affairs has requested that Dansk Landbrugs Realkreditfond be deleted from the list in Article 2 of Directive 2006/48/EC. A review of the legal status and the particular structure of Dansk Landbrugs Realkreditfond justifies its deletion from Article 2 of Directive 2006/48/EC. The Danish Ministry of Economic and Business Affairs has also requested that the name of Danmarks Skibskreditfond be changed to Danmarks Skibskredit A/S, due to a change of name of this institution.

(3)

Annex VI, Part 1, point 20 of Directive 2006/48/EC lists the multilateral development banks’ exposures to which a 0 % risk weight should be assigned.

(4)

The World Bank, acting on behalf of the International Finance Facility for Immunisation, has requested the inclusion of the latter in the list in Annex VI, Part 1, point 20 of Directive 2006/48/EC.

(5)

International Finance Facility for Immunisation is a new type of international development financing institution. It has a financial base comprised of legally binding payment obligations (grants) from central government donors. The funds borrowed by International Finance Facility for Immunisation in the international capital markets will finance immunisation programmes in 70 of the poorest countries in the world. International Finance Facility for Immunisation will act as a bank to the Global Alliance for Vaccines and Immunisation to provide funds that will be disbursed as grants to eligible developing countries’ immunisation programmes. International Finance Facility for Immunisation will outsource its two primary activities to existing multinational entities: financing, financial management and risk management will be outsourced to the World Bank and programme management and secretariat functions will be outsourced to Global Alliance for Vaccines and Immunisation.

(6)

International Finance Facility for Immunisation has a risk profile equivalent to the multilateral development banks enumerated in Annex VI, Part 1, point 20 of Directive 2006/48/EC and is therefore eligible for inclusion into Annex VI, Part 1, point 20 and in consequence to benefit from a 0 % risk weight as laid down in that provision.

(7)

The Islamic Development Bank has requested that it be included in the list in Annex VI, Part 1, point 20 of Directive 2006/48/EC.

(8)

The Islamic Development Bank has been set up by the governments of 29 countries with predominantly Muslim populations for the purpose of fostering economic development and social progress of member countries and Muslim communities individually as well as jointly and in accordance with “Shariah” rules. The Islamic Development Bank may undertake any activities which may advance this purpose. The agreement explicitly mentions e.g. equity investments, loans, trade finance and technical assistance.

(9)

Islamic Development Bank has a risk profile equivalent to the multilateral development banks enumerated in Annex VI, Part 1, point 20 of Directive 2006/48/EC and is therefore eligible for inclusion into Annex VI, Part 1, point 20 and in consequence to benefit from a 0 % risk weight as laid down in this provision.

(10)

Directive 2006/48/EC should therefore be amended accordingly.

(11)

The measures provided for in this Directive are in accordance with the opinion of the European Banking Committee,

1.

In Article 2, the fourth indent is replaced by the following:

2.

In Annex VI, Part 1, point 20 is replaced by the following: