{"release":{"id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","published":"2026-11-10T16:06:46Z","pinned":false},"limits":{"coverage":{"history":"full","held_since":"2009-10-10","gaps":[],"covered":["EMD L1"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"2d86bd12ba77a288053b34ea2517324b92d03c8039b7f5d156fa4002421384a1","release_published":"2026-11-10T16:06:46Z","checked_at":"2026-11-09","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emd/articles/4","url":"https://www.headlesslaw.com/emd/articles/4","title":"Article 4 — Initial capital","family":"l1_generated","work_id":"emd","status":"in_force","force_status":"in_force","date_state":"current","requested_date":null,"as_of":"2026-11-11","applies_from":null,"application":null,"version_label":"Consolidated version of 13 January 2018","check":{"against":"EUR-Lex","on":"2026-11-09"},"check_result":"matched","official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02009L0110-20180113","valid_from":"2018-01-13","valid_until":null,"revision":1,"content_id":"19c8a3b3d02f512a","change_date":null,"nearest_versions":["2009-10-10","2018-01-13"],"first_text_date":"2009-09-16","correction_applies":false,"versions":["2009-10-10","2018-01-13"],"version_url":"https://www.headlesslaw.com/emd/articles/4/versions/2018-01-13","revision_url":"https://www.headlesslaw.com/emd/articles/4/versions/2018-01-13/rev/19c8a3b3d02f512a","versions_url":"https://www.headlesslaw.com/emd/articles/4/versions","relations_url":"https://www.headlesslaw.com/emd/articles/4/relations","source_line":null,"attribution":null},"provenance":{"official_url":"https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02009L0110-20180113","check":{"result":"matched","checked_at":"2026-11-09","against":"EUR-Lex"},"repo_path":null,"body_sha256":"867dcc394496ae95db109766992ddfe4a7dd7fa1086085bcb87d438611c7b3d2","markdown_sha256":"335c3d6d93237bf90cfafb9d5bf0b66d10f90cc70b7e7158a3a401ba53d6fb27"},"units":[{"locator":"emd/art/4","kind":"article","status":"in_force","label":null,"heading":"Initial capital","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"emd/art/4/subpara/1","kind":"subparagraph","status":"in_force","label":null,"heading":null,"text":"Member States shall require electronic money institutions to hold, at the time of authorisation, initial capital, comprised of the items set out in Article 57(a) and (b) of Directive 2006/48/EC, of not less than EUR 350 000 .","marks":[],"revision":1,"text_hash":"2343331869e3ac652195ad464ef5a48c5bd6f475792f6975e6deb6ea2ff63f37","reason":null}],"markdown":"*In force · Consolidated version of 13 January 2018 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02009L0110-20180113)*\n\nMember States shall require electronic money institutions to hold, at the time of authorisation, initial capital, comprised of the items set out in Article 57(a) and (b) of Directive 2006/48/EC, of not less than EUR 350 000 .\n\n***\n\n[Title II — Requirements for the taking up, pursuit and prudential supervision of the business of electronic money institutions](../titles/ii.md) · [← Article 3](3.md) · [Article 5 →](5.md)\n"}