EBA Guidelines on the definition of ancillary activity under Regulation (EU) no. 575/2013 (CRR)

21 May 2026
Ref.: 2604122

Circular no.: 15/2026
To: financial undertakings and the Association of Companies in Financial Services

Subject: EBA Guidelines on the definition of ancillary activity under Regulation (EU) no. 575/2013 (CRR)

The European Banking Authority (EBA) has issued guidelines (EBA/GL/2026/01) that further elaborate the definition of the term undertaking in ancillary activity pursuant to point 18 of the first paragraph of Article 4 of Regulation (EU) 575/2013 (CRR), as amended by Regulation (EU) 2024/1623 (CRR III), which is given legal effect by the first paragraph of Article 1(c) of Act no. 161/2002, on financial undertakings. The guidelines entered into force on 4 May this year and are addressed to financial undertakings and competent authorities.

The objective of the guidelines is to establish clear, simple and uniform criteria for assessing which activities fall under the definition of the term undertaking in ancillary activity pursuant to point 18 of the first paragraph of Article 4. CRR, cf. for reference the second paragraph of Article 21 of the Act on financial undertakings. The guidelines contain further explanations of the term and criteria for determining which activities are considered ancillary activity.

According to point 18 of the first paragraph of Article 4. CRR, this concerns an undertaking whose main activity, whether for the benefit of undertakings within the group or customers outside it, consists in being a direct extension of banking activity, operating leasing, ownership or management of real estate, provision of data processing services or other activity to the extent that it is ancillary to banking services or other activity that is considered comparable to the aforementioned activity in the assessment of the EBA. The guidelines provide, among other things, for how it shall be determined whether an activity is considered a direct extension of banking activity, is considered related or ancillary to banking services, or is considered comparable to such activity. They also address, among other things, the process for determining whether an activity that does not fall directly under the aforementioned categories is nevertheless considered comparable to such activity. In such cases, competent authorities may notify the EBA of the activity in question and submit reasoning for why it should be considered comparable.

The Financial Supervisory Authority directs financial undertakings to familiarise themselves with the aforementioned guidelines and take them into account in their operations, as applicable. The Financial Supervisory Authority will rely on the guidelines in its supervisory practice and in assessing whether the requirements under the provisions discussed above are met.

This circular will be published on the Central Bank's website together with a link to the English version of the guidelines.

Yours faithfully,
CENTRAL BANK OF ICELAND

Finnur Tryggvi Sigurjónsson
Director
Prudential Supervision

Bára Björk Ingibergsdóttir
Specialist
Prudential Supervision