Electronic money: taking up, pursuit and prudential supervision of the business of electronic money institutions

This dossier concerns the taking up, pursuit and prudential supervision of the business of electronic money institutions. The amendments define electronic money and its issuance and redeemability at par value, set the scope and exclusions including limited-use instruments, initial capital and own funds requirements, the relationship to credit institutions, permitted activities such as payment services and related credit, treatment of received funds as not constituting deposits, and safeguarding of funds.