48. Institutions, in line with the requirements under Article 85(2) of Directive 2013/36/EU and Title VI of the EBA Guidelines on internal governance [Available under: https://eba.europa.eu/regulation-and-policy/internal-governance/guidelines-on-internal-governance-revised-], and payment institutions should have in place, maintain and periodically test appropriate business continuity plans with regard to outsourced critical or important functions. Institutions and payment institutions within a group or institutional protection scheme may rely on centrally established business continuity plans regarding their outsourced functions.
49. Business continuity plans should take into account the possible event that the quality of the provision of the outsourced critical or important function deteriorates to an unacceptable level or fails. Such plans should also take into account the potential impact of the insolvency or other failures of service providers and, where relevant, political risks i
…