Recital 1

(1)Regulation (EU) 2022/2554 aims to harmonise and streamline reporting requirements for ICT-related incidents and for operational or security payment-related incidents concerning credit institutions, payment institutions, account information service providers, and electronic money institutions (‘incidents’). Considering that the reporting requirements cover 20 different types of financial entities, the classification criteria and the materiality thresholds for determining major incidents and significant cyber threats should be specified in a simple, harmonised and consistent way that takes into account the specificities of the services and activities of all relevant financial entities.