Atribute	Detail
Resolution Reporting Subject Matter	Guidance
Guidance Documents	Critical-Functions
Taxonomy	-
Unique Identifier	QA2019-10

Question

The custody function is located in a separate subsidiary of the banking group. This subsidiary is neither a credit institution nor an investment firm. Hence it is outside the scope of the BRRD in the same way an insurance subsidiary would be.

Response

Entities that do not provide banking functions (e.g. insurance subsidiaries) and which do not fall under the BRRD and/or SRMR are out of scope. However, if a service is offered to clients by an entity in scope and then administered or booked in another entity, it should be reported by the entity offering the service.

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