1.

The provisions of Annex A to Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union must be interpreted as meaning that, in order to determine whether a separate institutional entity placed under government control should be classified in the general government sector, within the meaning of the revised European system of accounts established by that regulation, where it has the characteristics of a captive financial institution, it is necessary to examine its exposure to economic risk in the exercise of its activity;

2.

An institutional unit, such as that at issue in the main proceedings, whose degree of independence from general government is limited by national legislation, under which the institutional unit does not have complete control over the management of its assets and liabilities, in so far as that government exercises control over its assets and assumes part of the risk arising from its liabilities, may be regarded as a ‘captive financial institution’ within the meaning of paragraphs 2.21 to 2.23 of Annex A to Regulation No 549/2013, provided that the control measures laid down by that national legislation may be interpreted by the national courts to the effect that the institutional unit concerned may not act independently from that government given that the latter imposes the conditions under which the institutional unit is required to act, without that unit having any margin to substantially modify those conditions on its own initiative.