These enterprises have more than 30 billion euros in assets, according to the ECB’s communiqué.
By virtue of the new European Union (EU) law, these investment companies must request a banking license and, as a consequence, will be inspected by the ECB. The measure will be implemented as of June 26, 2021.
The ECB’s message stated that the new legal framework aims to better address the specific activities and risks of the investment firms.
jg/iff/mem/rfc
