Implementation
Date of application
With the exception of paragraph 63 (b), these guidelines apply from 30 September 2019 to all outsourcing arrangements entered into, reviewed or amended on or after this date. Paragraph 63 (b) applies from 31 December 2021.
Institutions and payment institutions should review and amend accordingly existing outsourcing arrangements with a view to ensuring that these are compliant with these guidelines.
Where the review of outsourcing arrangements of critical or important functions is not finalised by 31 December 2021, institutions and payment institutions should inform their competent authority of that fact, including the measures planned to complete the review or the possible exit strategy.
Transitional provisions
Institutions and payment institutions should complete the documentation of all existing outsourcing arrangements, other than for outsourcing arrangements to cloud service providers, in line with these guidelines following the first renewal date of each existing outsourcing arrangement, but by no later than 31 December 2021.