Microsoft (MSFT), Google parent Alphabet (GOOG, GOOGL), Amazon (AMZN), and Oracle (ORCL) units have been designated by the UK as critical third parties for cloud services provided to the country's financial system, effective July 13, the UK government said Friday.

The designation means that the Bank of England, Prudential Regulation Authority, and Financial Conduct Authority will oversee the critical services they provide to the financial sector in an attempt to reduce the risk of disruption, the government said.

The companies will be subject to oversight by the UK financial regulators to ensure they have tools in place to identify, manage, and recover from disruptions, the government said.

"Microsoft remains fully committed to complying with the relevant oversight requirements and the UK's cybersecurity and resilience laws," said Freddy Dezeure, Microsoft's deputy chief information security officer for Europe.

The other companies also voiced support for the new measures.