116. When developing exit strategies for third-party arrangements supporting critical or important …

When developing exit strategies for third-party arrangements supporting critical or important functions, financial entities should:

a. take into account the results of the analysis described in paragraph 73;
b. define the objectives of the exit strategy;
c. assign roles, responsibilities, and sufficient resources to manage exit plans and the transition of activities;
d. define success criteria for the transition of services provided by TPSPs and the data held by them; and
e. define the indicators to be used for the monitoring of the third-party arrangement (as outlined under Section 13), including indicators based on unacceptable service levels that should trigger the exit or other appropriate actions.

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