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GBIC comments on the ECB Guide on outsourcing cloud services

The Guide presents detailed supervisory expectations for significant institutions that are part of the Single Supervisory Mechanism (SSM).

The German Banking Industry Committee has published a comment on the draft of a European Central Bank Guide on outsourcing cloud services to cloud service providers. The Guide presents detailed supervisory expectations for significant institutions that are part of the Single Supervisory Mechanism (SSM). DORA and the complementary ESA regulatory standards lay out comprehensive requirements, including for cloud outsourcing. In light of this, it is essential that the additional requirements contained in the ECB Guide be implemented in a proportional manner that takes risk-orientation into account. 

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Comments on ECB Guide on outsourcing cloud services to cloud service providers

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GBIC comments on amending Delegated Regulation (EU) 2019/98

The German Banking Industry Committee (GBIC) welcomes the objective of revising Commission Delegated Regulation (EU) 2019/980 to simplify prospectus requirements, streamline their content and further standardise format and structure, thereby reducing administrative burdens for issuers, improving comparability for investors and strengthening access to EU capital markets.