Division (14)

United Kingdom

Granting loans^f1 to enable borrowers to purchase shares or hybrid instruments of the Bank and other banks^f2 shall be prohibited, whoever are those borrowers^f3. This provision shall apply and shall be monitored at the Bank’s level.

Annotations

Footnotes

f1: For the purpose of that Commitment, the term ‘loans’ shall be interpreted largo sensu, as any kind of financing, e.g. credit facility, guarantee, etc.
f2: For clarification, ‘other banks’ refer to any bank – financial institution in the world.
f3: For clarification, all borrowers, including the Bank’s private banking clients are covered by that Commitment.

Notes on Annex

Footnotes

f1: Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 108 of the treaty on the functioning of the European Union (OJ L 83, 27.3.1999, p. 1).