For the purposes of this Regulation, the following definitions shall apply:
(1)
‘deferral period’ means a period of up to six months;
(2)
‘function’ means a structured set of activities, services or operations that are delivered by the institution or group to third parties irrespective from the internal organisation of the institution;
(3)
‘business line’ means as a structured set of activities, processes or operations that are developed by the institution or group for third parties to achieve the organisation's goals.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04
CitationArticle 2 of Commission Delegated Regulation (EU) 2016/778 (LawPlayer, data as of 2026-07-04)
