Recital 11 Recurring incidents

Recurring incidents means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; that are linked through a similar apparent root cause, which individually are not major incidents means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, can indicate significant deficiencies and weaknesses in the financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations;’s incident means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; and risk means the potential for loss or disruption caused by an incident and is to be expressed as a combination of the magnitude of such loss or disruption and the likelihood of occurrence of the incident; management procedures. Therefore, recurring incidents means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555; should be considered as major collectively where they occur repeatedly over a certain period of time.