On 30 June 2016, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that it had reached an agreement with Google on the incorporation of a clause dealing with DNB’s examination rights in cloud computing contracts.

Financial institutions (financiële instelling) are not allowed to use the services of a cloud service provider unless DNB has the right to examine the cloud service provider. DNB and Google’s agreement on the standard clause which will be used for Dutch financial institutions will ensure that such institutions are able to comply with their statutory obligations.

View DNB’s news item (Dutch only), 30 June 2016.