News & Press
ESAs published joint final Report on the draft technical standards on subcontracting under DORA
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their joint Final report on the draft Regulatory Technical Standards (RTS) specifying how to determine and assess the conditions for subcontracting information and communication technology (ICT) services that support critical or important functions under the Digital Operational Resilience Act (DORA). These RTS aim at enhancing the digital operational resilience of the EU financial sector by strengthening the financial entities’ ICT risk management over the use of subcontracting.
Final Q&As
Question ID: 2024_7004
Should institutions check the compliance of ‘do no significant harm’ and ‘minimum safeguards’ requirements for BTAR exposures?
Question ID: 2024_7080
In Template 5, should the gross carrying amount of exposures in column j (of which exposures sensitive to impact from both from chronic and acute climate change events) be reported also in column h (Of which exposures sensitive to impact from chronic climate change events) and column i (Of which exposures sensitive to impact from acute climate change events) or is the gross carrying amount of exposures reported in these 3 columns mutually exclusive?
Question ID: 2024_7085
Based on the Excel version of Template 3 (Annex XXXIX), there are 8 sectors explicitly listed in column a (Sector / IEA Sector):
- Power
- Fossil fuel combustion
- Automative
- Aviation
- Maritime transport
- Cement, clinker and lime production
- Iron and steel, coke, and metal ore production
- Chemicals
And referring to the ITS Annex XL - Instructions for disclosure of ESG risks - Paragraph 19(a), it also mentions that there are 8 mandatory minimum set of sectors:
19. Institutions shall disclose in this template:
a. Columns a and b: these columns include the sectors (IEA sectors in column a) under which rows 1-8 lists the mandatory minimum set of sectors, and .....
However, in the "Annotated Table Layout 330-P1-ESG 3.3.xlsx" and in the data dictionary / DPM, downloaded from EBA's website, there are only 7 values mentioned for the IEA sector -
The <Key value> (combination of all <Key value> columns when more than one) must uniquely specify each row.
Value restricted to subset [CT55]:
(CT:x83) Carbon intensive firms
(CT:x84) 1. Power
(CT:x85) 2. Fossil fuel combustion
(CT:x86) 3. Automotive
(CT:x87) 4. Aviation
(CT:x88) 5. Maritime transport
(CT:x89) 6. Cement, clinker and lime production
(CT:x90) 7. Iron and steel, coke, and metal ore production
The IEA Sector named "Chemicals" is not included in the EBA 3.3 list of values.
Will either the Excel version and ITS be updated to remove "Chemicals" from the list of mandatory minimum set of sectors or the "Annotated Table Layout for ESG" be updated to include "Chemicals"?