Bank of Italy is
responsible for ensuring the sound and prudent management of
intermediaries, the overall stability and efficiency of the
financial system, and compliance with the rules and
regulations of those subject to supervision.
Circular 285 addresses the approach that the Bank of Italy
expects regulated entities, such as banks and other
financial institutions, to undertake in relation to
outsourcing. Circular 285 provides specific guidance on data
system security requirements, monitoring, accountability,
traceability, and termination.
Google Cloud’s contracts for financial institutions in
Italy address the requirements in Circular 285. We have also
created mappings to the guidelines for both
to assist you with understanding how we can support you with
meeting the requirements and assess us as an outsourced
service provider. Google Cloud is committed to addressing
these requirements regardless of how financial institutions
choose to use our services.