Outsourcing and third party risk management Supervisory Statement: central counterparties

The document details the Bank’s expectations on governance and accountability, risk management, and record-keeping. It addresses the criticality and risk assessments of their outsourcing and other third-party arrangements, including notification to the Bank where required, and CCPs’ due diligence on third parties.

“When a CCP outsources services or activities to a third party, it shall remain fully responsible for discharging all of its obligations, and outsourcing does not result in the delegation of its responsibility. This is a key principle underlying all requirements and expectations regarding outsourcing and other third party arrangements.”

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