Recital 5 Microenterprises and to other financial entities that are not significant

Taking into account the criteria set out in Article 20, first paragraph, point (a), of Regulation (EU) 2022/2554, the reporting timelines should not pose a disproportionate burden to microenterprises, ‘small enterprises’ and ‘medium-sized enterprises’ mean, respectively, microenterprises, small enterprises and medium-sized enterprises as defined in the Annex to Recommendation 2003/361/EC; and to other financial entitiesas defined in Article 2, points (a) to (t) that are not significant. In addition, to avoid a disproportional burden on financial entitiesas defined in Article 2, points (a) to (t), the reporting time limits should take into account weekends and bank holidays.