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Recital 2

Recital 2

(2)To ensure supervisory outcomes which are consistent with the existing supervisory frameworks, the parent undertaking of financial entities that are part of a group as defined in Regulation (EU) 2022/2554 should determine the entities to be included in the register of information at sub-consolidated and consolidated level in accordance with Union financial services legislation. To reduce administrative costs of groups, groups should have the possibility to develop a single register of information at entity, sub-consolidated and consolidated levels in relation to all contractual arrangements on the use of ICT services provided by ICT third-party service providers to all the financial entities that are part of that group. In such cases, the single register of information should allow each financial entity to comply with its obligation to maintain and update the register of information at entity and sub-consolidated level, where applicable, including its reporting to its competent authority.

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