The Credit Institutions Directive 2013/36/EU is an EU law that aims to ensure banks are run prudently, and do not go insolvent. It was introduced as part of a package rules, following the financial crisis of 2007–2008, with the Capital Requirements Regulation 2013. Contents Titles I-II, administration Title I concerns definitions. Title II explains competent authorities to administer the Directive, decentralised within member states (e.g. the Financial Conduct Authority in the UK, the Bundesamt für Finanz in Germany). Title III, authorisation Title III sets out requirements to be active as a credit institution" (especially, running a bank). Article 8 contains the key requirement for credit institutions to be authorised. Article 9, prohibition on taking deposits without authority. art 11, ‘Member States shall not require the application for authorisation to be examined in terms of the economic needs of the market.’ art 12, initial €12m capital. art 14, authority depends on disclosing identities of shareholders or members with qualifying holdings, or of the largest 20 holders. art 18, exhaustive reasons for withdrawal of authorisation – esp (c) it no longer fulfils conditions under which it was granted authority. ch 2, The right of establishment of credit institutions Titles IV-VI, establishment Title IV concerns minimum initial capital. Title V concerns the rights of establishment and freedom to provide services. Article 35, restates the right to establish a branch in another member state, a CI must notify authorities of home member state. Article 40 concerns reporting requirements that host member states can require. Article 43 adds that host states can take emergency precautionary measures in derogation from the general rights. Title VI concerns relations with third countries. Title VII, prudential and governance standards Title VII concerns prudential supervision of credit institutions and corporate governance. Article 49 says that the basic position is that the home state of the credit institution is responsible for supervision. Article 50 requires collaboration on supervision among member state authorities. Article 73 contains provisions on internal capital. Article 74 says internal governance and recovery plans should be defined and transparent. Article 76 requires standards for the organisation and treatment of risks. Articles 88 to 96 contain loose provisions on corporate governance. Under Article 88(1) there must be a segregation of management and supervision duties to prevent conflicts of interest, and (2) non-executive directors must be on the nomination committee for new appointees. Article 89 requires country by country reporting