Payment Services Directive (PSD2)
Table of Contents
Chapter I – SUBJECT MATTER, SCOPE AND DEFINITIONS
Chapter II – PAYMENT SERVICE PROVIDERS
Chapter III – TRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES
Chapter IV – RIGHTS AND OBLIGATIONS IN RELATION TO THE PROVISION AND USE OF PAYMENT SERVICES
Chapter V – DELEGATED ACTS AND REGULATORY TECHNICAL STANDARDS
Chapter VI – FINAL PROVISIONS
Recitals (113)
Annexes
Chapter II – PAYMENT SERVICE PROVIDERS
Article 8
Own funds
1. The payment institution’s own funds, shall not fall below the amount of initial capital as referred to in Article 7 or the amount of own funds as calculated in accordance with Article 9 of this Directive, whichever is the higher.
2. Member States shall take the necessary measures to prevent the multiple use of elements eligible for own funds where the payment institution belongs to the same group as another payment institution, credit institution, investment firm, asset management company or insurance undertaking. This paragraph shall also apply where a payment institution has a hybrid character and carries out activities other than providing payment services.
3. If the conditions laid down in Article 7 of Capital Requirements Regulation (CRR) are met, Member States or their competent authorities may choose not to apply Article 9 of this Directive to payment institutions which are included in the consolidated supervision of the parent credit institution pursuant to Capital Requirements Directive (CRD IV).