Regulatory Alerts2022-06-20
Reserve Bank of New Zealand White List for BS11 Outsourcing Policy
The Reserve Bank of New Zealand issued this document to define specific services and functions that are exempt from the strict outsourcing requirements of Prudential Supervision Policy BS11. The white list categorizes low-risk activities across sectors such as financial markets, human resources, IT software, and general procurement, allowing banks to outsource these functions without triggering full outsourcing compliance. Banks must ensure that any service directly relevant to BS11 outcomes is not allocated to this list and must reassess contracts upon renewal to maintain compliance.
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