(7)Second, the legal and supervisory arrangements of the third country must ensure that CSDs established in that third country are subject to effective supervision, oversight and enforcement on an ongoing basis. Until the end of the transition period on 31 December 2020, UK CSDs are under the supervision of the Bank of England, as determined in United Kingdom domestic law in accordance with Regulation (EU) No 909/2014. As part of the incorporation of the provisions set out in Regulation (EU) No 909/2014 into United Kingdom domestic law, the Bank of England will remain responsible for the supervision of CSDs from the end of the transition period and there are, for the moment, no indications that any important changes to that supervision are foreseen.