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critical functions

171activities, services or operations (wherever carried out)230 the discontinuance of which is likely230 to lead to the disruption of essential services to the real economy of the UK230 or to disrupt financial stability in the UK230 due to the:

  1. (a) size;
  2. (b) market share;
  3. (c) external and internal interconnectedness;
  4. (d) complexity; or
  5. (e) cross-border activities,

of an RRD institution or RRD group, particularly bearing in mind the substitutability of those activities, service or operations.[Note: article 2(1)(35) of RRD]