(In Directive 98/26/EC as amended by Article 4 of Regulation (EU) 2024/886)
- a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013 of the European Parliament and of the Council, including the entities listed in Article 2(5) of Directive 2013/36/EU
- an investment firm as defined in Article 4(1), point (1), of Directive 2014/65/EU of the European Parliament and of the Council, excluding the institutions set out in Article 2(1) of that Directive
- public authorities and publicly guaranteed undertakings
- any undertaking whose head office is outside the Union and whose functions correspond to those of the Union credit institutions or investment firms as defined in the first and second indents, which participates in a system and which is responsible for discharging the financial obligations arising from transfer orders which are processed through that system
- for the purposes of defining participants in a payment system only, a payment institution as defined in Article 4, point (4), of Directive (EU) 2015/2366 of the European Parliament and of the Council, with the exception of a natural or legal person benefitting from an exemption pursuant to Article 32 or 33 of that Directive, or an electronic money institution as defined in Article 2, point (1), of Directive 2009/110/EC of the European Parliament and of the Council, with the exception of a legal person benefitting from a waiver pursuant to Article 9 of that Directive
Defined in / by
Last updated: 22 August 2026.