EBA Launches Consultation on its Guidance for the Use of Cloud Computing

May 18, 2017

The EBA has launched a consultation on its guidance for the use of cloud service providers by financial institutions. The Recommendations are intended to clarify the EU-wide supervisory expectations if institutions intend to adopt cloud computing, to ensure any related risks are adequately identified and managed.

The Recommendations address five key areas:

  1. The security of data and systems
  2. The location of data and data processing
  3. Access and audit rights
  4. Chain outsourcing
  5. Contingency plans and exit strategies

For further details, please see full press release here.