+Definitions
---+16. Unless otherwise specified, terms used and defined in Directive 2013/36/EU, Regulation (EU) No …
---+17. In addition, for the purposes of these Guidelines, the following definitions apply: means an …
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Definitions
Definitions
1. Pregled
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16. Unless otherwise specified, terms used and defined in Directive 2013/36/EU, Regulation (EU) No …
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Unless otherwise specified, terms used and defined in Directive 2013/36/EU, Regulation (EU) No 575/2013, Directive 2019/2034/EU, Regulation (EU) 2019/2033, Directive 2009/110/EC, Directive (EU) 2015/2366, Regulation (EU) 2023/1114, the EBA Guidelines on internal governance under Directive 2013/36/EU (31 ), the EBA Guidelines on internal governance under Directive (EU) 2019/2034 (32 ) and the EBA Guidelines on the minimum content of the governance arrangements for issuers of asset-referenced tokens under Regulation (EU) 2023/1114 (33 ) have the same meaning in these Guidelines.
31 See: EBA Guidelines on internal governance under Directive 2013/36/EU. 32 See: Final Report on GL on internal governance under IFD (europa.eu). 33 See: Final report on draft Guidelines on internal governance of issuers of ARTs (europa.eu).
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17. In addition, for the purposes of these Guidelines, the following definitions apply: means an …
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In addition, for the purposes of these Guidelines, the following definitions apply: | Third-party arrangement | means an arrangement (34 ) of any form between a financial entity and a third-party service provider, including intragroup third-party service providers, for the support of one or more functions to the financial entity on a recurrent basis or an ongoing basis. This includes outsourcing arrangements as a subset. means an arrangement of any form between a | | Outsourcing arrangement | financial entity and a third-party service provider, including intragroup third-party service providers by which the third-party service provider performs, on a recurrent or an ongoing basis, a function that would otherwise be undertaken by the financial entity itself. means a risk that may arise for a financial entity | | Third-party risk | in relation to the use of services supporting a function provided by third-party service providers or by subcontractors of the latter. The service by the third-party service provider may include the provision of a function or the support to a function, including through outsourcing arrangements. means any process, service or activity, or part of | | Function | it. means a function, the disruption of which would | | Critical or important function (35 ) | materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law. means a situation where a third-party service | | Subcontracting | provider has entered into an arrangement with another service provider to further transfer a function (36 ), in whole or in part. means an undertaking providing a service | | Third-party service provider | supporting a function under an arrangement with a financial entity. means an undertaking that is part of a financial | | Intragroup third-party service provider | group and that provides or supports functions to financial entities within the same group or to financial entities belonging to the same institutional protection scheme, including to their parent undertakings, subsidiaries or other entities that are under common ownership or control. | | Management body | means a financial entity ’s body or bodies, which are appointed in accordance with national law, which are empowered to set the financial entity ’s strategy , objectives and overall direction, and which oversee and monitor management decision-making and include the persons who effectively direct the business of the financial entity and the directors and persons responsible for the management of the payment institution or the electronic money institution. | | Concentration risk | means an exposure to individual or multiple related third-party service providers creating a degree of dependency on such providers so that the unavailability, failure or other type of shortfall of such provider may potentially endanger the ability of a financial entity to deliver critical or important functions or cause it to suffer other types of adverse effects, including large losses, or endanger the stability of the financial system. means the ability of a financial entity to deliver | | Operational resilience | critical or important functions through disruption. |
34 The term excludes an arrangement between a third-party service provider and any entity in the supply chain (i.e. a subcontractor to the financial entity). 35 The wording ‘critical or important function’ is used only for the purpose of these Guidelines and is not the same definition of ‘critical functions’ for the purpose of the recovery and resolution framework as defined under Article 2(1), point (35) of Directive 2014/59/EU (BRRD). 36 For the assessment, the provisions in Section 3 apply; sub-contracting has also been referred to in other documents as a ‘chain of subcontracting’ or the use of n th party service providers.
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1.1 Reference
1.2 Utvrđeni zahtjevi
1.3 Povezani standardi
2. Utvrđeni zahtjevi
3. Povezani standardi
- EBA - Published by the European Banking Authority at https://www.eba.europa.eu/
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