EBA consults on outsourcing to the cloud

EBA is consulting on regulatory expectations when firms outsource to the cloud. It wants to identify a set of key principles that all credit institutions and investment firms should follow, and which all regulators should apply. The paper focuses on five key areas for recommendation:

  •  the security of data and systems
  • the location of data and data processing
  • access and audit rights
  • chain outsourcing and
  • contingency plans and exit strategies.

Consultation closes on 18 August.