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Some respondents to the EBA’s consultation on its draft guidelines had asked for the specific requirements for each type of outsourcing, ‘general outsourcing’, ‘outsourcing of a critical or important function’ and ‘intragroup arrangements’ to be compiled in a specific table or diagram.
The Draft Guidelines on Outsourcing arrangements plan to update the CEBS Guidelines.The updated guidelines will apply to all financial institutions within the scope of the EBA’s mandate: credit institutions, MiFID investment firms subject to CRD, payment institutions, electronic money institutions.
The guidelines contain significant changes to an earlier draft version the EBA consulted on last year, including focusing most of the requirements around ‘critical or important’ outsourcing arrangements.
On 25 February 2019, the European Banking Authority (EBA) published revised (final) guidelines on outsourcing arrangements (Guidelines) for credit institutions and certain investment firms (institutions) as well as payment and electronic money institutions (payment institutions). The Guidelines amend and finalise previously published draft guidelines in light of extensive consultation
The European Banking Authority (EBA) published its Final Report on the Draft Guidelines on outsourcing arrangements in February 2019 (the Guidelines) which replace the guidelines from the 2006
The EBA’s draft Recommendations for Cloud Outsourcing For more information please contact: they can sub-contract with third parties known as “chain outsourcing”. 2006 CEBS Guidelines The draft Recommendations supplement the CEBS Guidelines published All outsourcing arrangements should be In a press release, the EBA said that the guidelines, which review the existing CEBS Guidelines on outsourcing published in 2006, aim at establishing a more harmonised framework for outsourcing arrangements of all financial institutions in the scope of the EBA’s action. The draft guidelines define outsourcing and specify
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