# Commission Implementing Regulation (EU) 2018/1624 of 23 October 2018 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/1066 (Text with EEA relevance), Division 38

Extent: E+W+S+N.I.

Pursuant to Article 2(1) point 35 of the Directive 2014/59/EU, critical functions means activities, services or operations the discontinuance of which is likely in one or more Member States, to lead to the disruption of services that are essential to the real economy or to disrupt financial stability due to the size, market share, external and internal interconnectedness, complexity or cross-border activities of an institution or group, with particular regard to the substitutability of those activities, services or operations.

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Source: https://www.legislation.gov.uk/eur/2018/1624/annex/II/division/II/division/II.7/division/II.7.1/division/38 (the official version)
Page: https://openlegislation.uk/eu-regulation-2018-1624/annex-II/division-II/division-II.7/division-II.7.1/division-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.