EBU Single Rulebook Q&A 28 June 2020 2020_5335 How to use bank guarantees instead of PII

Is it acceptable to use third party (other than credit institutions) commitments that are covered by a guarantee from a credit institution as a comparable guarantee instead of professional indemnity insurance (PII)? PSD2 gives the option to use bank guarantees instead of PII but in reality it is not so easy to replace one with another.