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These recommendations intend to clarify the EU-wide supervisory expectations if institutions intend to adopt cloud computing, so as to allow them to leverage the benefits of using cloud services, while ensuring that any related risks are adequately identified and managed.

The European Banking Authority (EBA) launched today a public consultation to propose extending the scope of application of the existing Joint Committee (JC) Guidelines on complaints-handling to the new institutions established under the revised Payment Service Directive (PSD2) and the Mortgage Credit Directive (MCD). The proposal, which does not envisage any changes to the substance of the existing Guidelines, will ensure that an identical set of requirements for complaints-handling continues to apply to all financial institutions across the banking, investment and insurance sectors. The extension of the scope will provide consumers with the same level of protection, irrespective of which regulated product or service they are purchasing and which regulated institution they are purchasing it from. The consultation runs until 27 May 2018.

The European Banking Authority (EBA) published today its final Guidelines under the revised Payment Services Directive (PSD2), on the criteria on how to stipulate the minimum monetary amount of the professional indemnity insurance (PII) or other comparable guarantee for payment initiation services (PIS) and account information services (AIS). Undertakings intending to carry out these services will need PII cover or a comparable guarantee as a prerequisite to be granted authorisation. The Guidelines, therefore, contribute to the overall objectives of PSD2, by strengthening the liability regime governing the interactions between the different actors involved in electronic payment transactions.

The European Banking Authority (EBA) published today an updated list of regional governments and local authorities that may be treated as central governments for the calculation of capital requirements, in accordance with the EU Capital Requirements Regulation (CRR).