(h)

‘financial intermediary’ means any financial institution regardless of its form and ownership, which operates on a for profit basis; public promotional banks or institutions are not considered to fall within that definition where they act as granting authorities and there is no cross-subsidisation of the activities undertaken at their own risk and account.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.