ict concentration risk
as defined in Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on…, 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 Union’s financial system as a whole, to deliver critical functions, or to suffer other type of adverse effects, including large losses
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Also defined in
- Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational… 32022R2554, Article 3, point (29)
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…