The EBA has published a revision to the Committee of European Banking Supervisors’ 2006 Guidelines on outsourcing arrangements. The revised guidelines take into account and are consistent with CRD IV, MiFID II, EMD, PSD II and BRRD.
The guidelines will include provisions relating to outsourcing to cloud service providers that the EBA previously published as a recommendation. They will apply to credit institutions and investments firms that are subject to CRD, and to payment and electronic money institutions.
The revised guidelines will enter into force from 30 September 2019.