EBA Q&A · 2025_7379
SME
Rejectedfiled under Regulation (EU) No 680/2014 - ITS on supervisory reporting of institutions (repealed) (repealed)Submitted 13/03/2025 Rejected publishing date 22/05/2025
Question · verbatim
In the instructions for Finrep ITS consolidated - Annex V to EU Regulation 2021/451 - there is a definition of SME in point 5.i
‘SME’: micro, small and medium-sized enterprises as defined in Commission Recommendation C(2003)1422 (6); (Commission Recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises (C(2003)1422) (OJ L 124, 20/05/2003, p. 36), where in article 1:
“Enterprise
An enterprise is considered to be any entity engaged in an economic activity, irrespective of its legal form. This includes, in particular, self-employed persons and family businesses engaged in craft or other activities, and partnerships or associations regularly engaged in an economic activity.”
In accordance with the above-mentioned recommendation and SME definition, the scope of enterprises also includes self-employed individuals. Given that SME are reported in FINREP ITS as enterprises, should self-employed entrepreneurs be treated as enterprises as well?
Background provided by the submitter · verbatim
Doubts in the interpretation of the definition of non-financial enterprises.
Rationale for rejection · verbatim
This question has been rejected because the issue it deals with is already addressed in the IT Solutions [Annex V, Part 1, paragraph 5, point (i)] to the Regulation (EU) 2024/3117, as well as the Commission Recommendation C(2003) 1422 mentioned under that legislative act.
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Source: EBA Single Rulebook Q&A 2025_7379 · text as published, not rephrased · collected on 2026-10-08