Recital 10 Function taxonomy at individual level and at group level

Each financial entity, including financial entities from the same groupmeans a group as defined in Article 2, point (11), of Directive 2013/34/EU;, have their own internal taxonomy of functions depending on their specific business models and internal organisations. To allow for a clear monitoring distinguishing between the functions of the financial entities and the ICT servicesmeans digital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services;, financial entities should themselves designate relevant functions by using the function identifier at individual level and at groupmeans a group as defined in Article 2, point (11), of Directive 2013/34/EU; level.