meta_id 3260216

On June 22, 2026, the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's financial services authority, issued Circular CSSF 26/913 to apply the European Banking Authority (EBA) Guidelines on ancillary services undertakings (EBA/GL/2026/01), which were published on January 9, 2026. The Guidelines specify criteria for identifying activities that qualify as ancillary services undertakings under Article 4(1)(18) of Regulation (EU) No 575/2013 (Capital Requirements Regulation). The CSSF has integrated these Guidelines into its administrative practice and regulatory approach to promote supervisory convergence across the European Union. The Guidelines establish three categories of ancillary services undertakings: activities constituting a direct extension of banking; activities ancillary to banking such as operational leasing, property ownership or management, and data processing services; and other similar activities identified by the EBA. The Guidelines address innovative and digital business models, including fintech and technology-driven services, to capture emerging forms of ancillary risks within banking groups. The Circular applies immediately to all Less Significant Institutions designated under the Single Supervisory Mechanism and all Capital Requirements Regulation investment firms incorporated under Luxembourg law. Competent authorities across the EU must notify the EBA of their compliance status by May 4, 2026. The Guidelines themselves apply from May 4, 2026. The CSSF's adoption of these Guidelines aims to establish clear, consistent criteria for identifying ancillary services undertakings, promote a level playing field among institutions, and enhance comparability of prudential requirements across member states. REFERENCES: - Circular CSSF 26/913: Application of the Guidelines of the European Banking Authority on ancillary services undertakings (June 22, 2026) - EBA/GL/2026/01 - Guidelines on ancillary services undertakings (January 9, 2026) - Regulation (EU) No 575/2013 (Capital Requirements Regulation)