Question ID
2023_6876
Legal act
Regulation (EU) No 2022/2554 (DORA)
Topic
Other DORA topics
Article
2
Paragraph
a
COM Delegated or Implementing Acts/RTS/ITS/GLs/Recommendations
Not applicable
Article/Paragraph
N/A
Type of submitter
Competent authority
Subject matter
DORA Regulation & Applicability to Third-Country Branches
Question

Is Regulation (EU) 2022/2554 (DORA) applicable to third-country branches that are licensed in our country (EU country) as Credit Institutions?

Background on the question

It is our understanding that Credit Institutions that are third-country branches licensed in an EU country would be included in scope of the DORA Regulation and, thus, so would the requirements of the Regulation apply. 

We have encountered a particular situation where we have a third-country branch licensed as Credit Institutions in our EU jurisdiction. However, from a financial perspective, this particular branch has very limited operations in our country and the EU as a whole.

Submission date
Status
Question under review
Answer prepared by
Answer prepared by the European Commission because it is a matter of interpretation of Union law.