Recital 1

(1)It is necessary to establish standard templates for the purposes of the register of information in relation to all contractual arrangements on the use of ICT services provided by information and communication technology (ICT) third-party service providers referred to in Article 28(3) of Regulation (EU) 2022/2554. Information gathered from that register is essential for the financial entities’ internal ICT risk management, for the effective supervision of the financial entities by their competent authorities, and for the establishment and conduct of oversight of the critical ICT third-party providers by the Lead Overseer. Furthermore, that information is essential for the annual process to designate critical ICT third-party service providers by the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority (collectively ‘European Supervisory Authorities’ (ESAs)).