1. The EBA conducted a consultation on the draft guidelines on outsourcing over a three-month period, ending on 24 September 2018; a public hearing was held on 4 September 2018. During the consultation period, the EBA, together with the chair of the EBA’s Subgroup on Remuneration and Governance, had meetings with some significant European Associations (the European Banking Federation, the European Association of Co-operative Banks and the European Savings and Retail Banking Group) to discuss their concerns. Altogether, 59 responses were received, including the response of the EBA’s Banking Stakeholder Group and nine responses that have not been published.
2. While many respondents acknowledged the efforts undertaken by the EBA to update the outsourcing guidelines and to integrate the EBA’s recommendation on outsourcing to cloud service providers, several respondents made suggestions to reduce the scope of the guidelines and the regulatory burden that allegedly would be created by
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