Bank of Italy

The 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 Google Cloud and Google Workspace 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.