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.
Answer
This question has been rejected because the matter it refers to is answered inQ&A DORA 102(see thejoint Q&A register).The final answer was provided by the Commission on Thursday, June 20, 2024. The Q&A was then reopened for review in the light of the changes introduced to Directive (EU) 2013/36 (CRD) by Directive (EU) 2024/1619.the joint ID if this Q&A is DORA013