On 3 June 2024, the European Central Bank (ECB) issued a consultation on a new draft guide on outsourcing cloud services to cloud service providers.

The draft guide seeks to clarify the ECB’s understanding of the related legal requirements and its expectations for the banks it supervises. The draft guide draws on risks and best practices observed by the ECB’s joint supervisory teams in the context of ongoing supervision and on-site inspections. When applying the expectations set out in the draft guide, banks should take into account the principle of proportionality. The supervisory regime under the EU Digital Operational Resilience Act that will enter into force on 17 January 2025 has also been taken into consideration to the extent possible.

The deadline for comments on the consultation is 15 July 2024.