Question
Can a CRR PSE entity that qualifies as a Credit Institution under Article 4 of the CRR, be classified as a Credit Institution under FINREP, even if the local regulator classifies them as a "non-CRR Bank"?
Background on the question
We have a few counterparties that are classified as PSE's and are included on the EBA list, as per article 116 of the CRR, but are refered to by their home regulators as non-CRR banks. Under FINREP Counterparts that are included as PSE can be allocated to one of four counterparty sectors, including credit institutions and other financial corporations.. Does the home regulator description of the counterpart as a non-CRR bank mean we disregard that this entity, that classifies as a credit institution under CRR, and classify it as an Other Financial Corporation, or do we not consider the home regulators description and therefore for FINREP conclude it is a Credit Institution?
Answer
This question has been rejected because the matter it refers to is the same ofQ&A 4276.