The designated CCPPs provide essential ICT services to financial institutions across the EU, ranging from core infrastructure to business and data services. They play an important role within the European financial ecosystem. With the publication of the list, supervision by the European supervisors also starts. They assess whether the critical suppliers on the list have sufficient risk management and governance frameworks in place to ensure that their ICT services effectively contribute to the operational resilience of the European financial sector.
Assessing critical ICT service providers
The supervisors first collected information about the ICT contracts of the financial institutions. The institutions, together with national supervisors, then looked at the importance of each service provider and whether it is easy to replace. Service providers that were identified as significant were given the opportunity to respond before the decision to include them as a "critical" service provider became final.