United Kingdom (and EU regulation)

BoE Dear CEO letters – supervisory expectations in relation to material outsourcing to the public cloud

By Simon Lovegrove (UK) on September 30, 2021 Posted in Clearing and settlement, United Kingdom

On 29 September 2021, the Bank of England (BoE) published the following:

Dear CEO letter to central counterparties (CCPs) setting out supervisory expectations in relation to material outsourcing to the public cloud. The first annex to the Dear CEO letter sets out the BoE’s expectations in relation to material outsourcing arrangements. The second annex sets out the BoE’s current expectations when there is a change in the risk profile of CCPs and the clearing eco-system should CCPs allow participants to host connectivity gateway and security solutions on the public cloud.
Dear CEO letter to recognised payment system operators (RPSOs) and specified service providers (SSPs) setting out supervisory expectations in relation to material outsourcing to the public cloud. The first annex to the Dear CEO letter sets out the BoE’s expectations in relation to material outsourcing arrangements. The second annex sets out the BoE’s current expectations when there is a change in the risk profile of the payments eco-system should RPSOs and SSPs allow participants to host connectivity gateway and security solutions on the public cloud.
Dear CEO letter to central securities depositories (CSDs) setting out supervisory expectations in relation to material outsourcing to the public cloud. The first annex to the Dear CEO letter sets out the BoE’s expectations in relation to material outsourcing arrangements. The second annex sets out the BoE’s current expectations when there is a change in the risk profile of the CSDs and the securities settlement system should CSDs allow participants to host connectivity gateway and security solutions on the public cloud.