Regulatory Alerts2025-03-14
Joint Guidelines on the Assessment of Aggregated Annual Costs and Losses Resulting from Significant ICT Incidents under Regulation (EU) 2022/2554 (JC 2024 34)
The European Supervisory Authorities issued Joint Guidelines to establish a common methodology for financial entities to assess aggregated annual costs and losses resulting from significant ICT incidents under the DORA Regulation. The guidelines mandate that financial institutions aggregate gross costs, losses, and financial recoveries from significant incidents reported in the reference year, utilizing a standardized template for submission to competent authorities. These guidelines apply from May 19, 2025, requiring entities to align their supervisory practices and reporting frameworks with the specified assessment procedures.
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