The ECB has developed a common methodology for the Supervisory Review and Evaluation Process (SREP) to which financial institutions will have to adapt.
The ECB took over as supervisor of financial institutions in the Eurozone in November 2014, as part of the Single Supervisory Mechanism (SSM).
The SSM is responsible for the prudential supervision of all credit institutions within the participating Member States. It guarantees that the EU prudential supervision policy is applied consistently and efficiently across all credit institution. It also ensures that these institutions are subject to a high quality supervision.
The three main objectives of the SSM are to:
In order to accomplish these objectives, the ECB is developing rules, procedures and methodologies that will constitute the institutions’ supervisory tools. Specifically, the ECB has developed a common methodology for the development of the Supervisory Review and Evaluation Process (SREP), through which the systems, strategies, processes and mechanisms implemented by entities will be reviewed.
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Latest technical notes released:
|Stress testing in the UK banking system: 2018 results|
|Final Guidelines on ICAAP and ILAAP information collected for SREP purposes / Supervisory expectations and Final Guides to the ICAAP and ILAAP|
|Guide to the Targeted Review of Internal Models (TRIM) – General aspects|
|2018 Stress test results|
|Status update on TRIM – General topics and credit risk review|
© GMS Management Solutions, S.L., 2019. All rights reserved. The information contained on this publication is of a general nature and does not constitute a professional opinion or an advisory service. The data used in this publication come from public sources. GMS Management Solutions, SL assumes no liability for the veracity or accuracy of such data.