ict concentration risk
as defined in Regulation (EU) 2022/2554 of the European Parliament and of the Council of…, Article 3, point (29) (Definitions)
an exposure to individual or multiple related critical ICT third-party service providers creating a degree of dependency on such providers so that the unavailability, failure or other type of shortfall of such provider may potentially endanger the ability of a financial entity to deliver critical or important functions, or cause it to suffer other types of adverse effects, including large losses, or endanger the financial stability of the Union as a whole
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Also defined in
- Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on digital operational resilience for the… 52020PC0595, Article 3, point (21)
an exposure to individual or multiple related critical ICT third-party service providers creating a degree of dependency on such providers so that the unavailability, failure or other type of shortfall of the latter may potentially endanger the ability of a financial entity, and ultimately of the…