CEBS opens second round of consultation on outsourcing standards

The Committee of European Banking Supervisors (CEBS) has today started a second round of public consultation on the standards for outsourcing of credit institutions’ business activities.

In this instance, outsourcing is defined as an authorised entity’s use of a third party to perform activities on a continuing basis that would normally be undertaken by the authorised entity. One key element is that outsourcing arrangements can never result in the delegation of senior management’s responsibilities.

The proposed standards are based on current practices and take into account international and European initiatives in the field of outsourcing. CEBS and the Committee of European

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