Large Exposures Reporting

In addition, Q&A 211 states that this condition can also be met where, in a Member State, financial institutions (to which the CRR is not applicable) are subject to prudential and supervisory requirements equivalent to those applied to institutions in terms of robustness, in accordance with Article 119(5) CRR.   In the same way, if a CCP is considered by the relevant competent authority to be subject to Regulation (EU) 648/2012 on European Market Infrastructures (EMIR), it cannot be considered unregulated in the terms of the first paragraph, since the EMIR is an EU-equivalent of the CRR for the entities to which it applies.   Finally, regarding the question of whether CCPs can be considered financial institutions, the latter are defined in Article 4(1)(26) CRR, and also in this vein paragraph 2(93)(c) of the European System of Accounts ESA 2010 states that specialised financial corporations or financial intermediaries “cover also Central Counterparty Clearing Houses (CCPs) carrying out inter-MFI repurchase agreement transactions.” Regarding the issue of how to report the largest 20 exposures to clients and the largest exposures to Institutions and Unregulated financial entities see Q&A 1256 .