Many large non-financial corporations have their treasury organised in a separate legal entity. These corporate treasuries issue financial instruments (e.g. debt securities) and provide loans to the corporate. The issued financial instruments are guaranteed by the non-financial corporation on an instrument by instrument basis. The counterparty classification for liquidity reporting of the individual legal entity is “financial customer”, also refer to EBA Q&A 2016_2793,  because the activities of the individual entity are listed in Annex I to Directive 2013/36/EU. The question is whether issued debt securities from these type of corporate treasuries can be classified as “corporate debt securities” mentioned in the Delegated Regulation (EU) 2015/61?