July 19 2024
GBIC comments on the European Central Bank's (ECB) draft Guide on outsourcing cloud services
The German Banking Industry Committee has issued a statement on the European Central Bank’s (ECB) draft Guide on outsourcing cloud services to cloud service providers. The guide formulates detailed supervisory expectations for significant institutions in the Single Supervisory Mechanism (SSM). Regarding the fact that the DORA regulation and supplementary ESA standards lay down extensive requirements, which also include cloud outsourcing, it should be possible to apply the additional expectations in the ECB Guide in a risk-oriented and proportional manner.
