Banking on the Cloud

21 Transactions: The Tennessee Journal of Business Law 381 (2020)

21 Pages Posted: 6 Aug 2020

See all articles by Colleen Baker

Colleen Baker

University of Oklahoma, Michael F. Price College of Business

David Fratto

affiliation not provided to SSRN

Lee Reiners

Duke University School of Law; Global Financial Markets Center at Duke Law

Date Written: July 9, 2020

Abstract

Cloud computing is fast becoming a ubiquitous part of today’s economy for both businesses and individuals. Banks and financial institutions are no exception. While it has many benefits, cloud computing also has costs and introduces risks. Significant cloud providers are single points of failure and, as such, are an important new source of systemic risk in financial markets. Given this reality, this article argues that such institutions should be considered critical infrastructures and designated as systemically important financial market utilities under Dodd-Frank’s Title VIII.

Keywords: cloud computing, banking, Dodd-Frank Title VIII, systemically important financial market utilities

JEL Classification: K12, K20, K22, K23

Suggested Citation

Baker, Colleen M. and Fratto, David and Reiners, Lee, Banking on the Cloud (July 9, 2020). 21 Transactions: The Tennessee Journal of Business Law 381 (2020), Available at SSRN: https://ssrn.com/abstract=3647392

Colleen M. Baker (Contact Author)

University of Oklahoma, Michael F. Price College of Business ( email )

307 West Brooks
Norman, OK 73019-4004
United States

David Fratto

affiliation not provided to SSRN

Lee Reiners

Duke University School of Law ( email )

210 Science Drive
Box 90362
Durham, NC 27708
United States

Global Financial Markets Center at Duke Law ( email )

210 Science Drive
Durham, NC 27708
United States

HOME PAGE: http://https://law.duke.edu/globalfinancialmarkets/

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