Question ID:
Legal Act:
Regulation (EU) No 575/2013 (CRR)
Liquidity risk
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations:
Delegated Regulation (EU) 2015/61 - DR with regard to liquidity coverage requirement
3 (9)
Disclose name of institution / entity:
Type of submitter:
Credit institution
Subject Matter:
Financial Customers

When assessing the primary activities of any legal entity to assess whether these activities fall within the list of activities that define an entity as a "financial customer" (Annex I), should the activity of the entity being assessed include intragroup activity with other controlled entities within the same group or should intragroup activities with other controlled entities within the same group be excluded?

Background on the question:

Definition of a financial customer

Date of submission:
Published as Final Q&A:
Final Answer:

In view of the definition of "financial customer" set out in Article 411(1) of Regulation (EU) No 575/2013, any entity performing one or more of the activities listed in Annex I to Directive 2013/36/EU as its main business qualifies as a financial customer.


Since that definition does not distinguish between activities carried out with entities within the same group and entities carried out with entities outside of that group, all activities of that entity need to be considered when assessing compliance with the definition of financial customer, including intragroup activities with other entities of the same group.




The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.

Final Q&A
Answer prepared by:
Answer prepared by the European Commission because it is a matter of interpretation of Union law.