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ECB Annual Review Raises Governance Concerns

ECB Annual Review Raises Governance Concerns

by Starling Insights

Starling Insights Editorial Board

Feb 17, 2023

Observations

ECB EU Culture & Conduct Supervision Challenges in Governance Governance, Audit & Regulatory Failures Regulatory Trends

Earlier this month, the European Central Bank (ECB) published the results of its annual Supervisory Review and Evaluation Process (SREP). The findings suggest that many EU banks' implementation of governance structures and risk controls may be insufficient.

While the ECB found that banks had sufficient capital and liquidity positions, it demanded "qualitative" changes from most of the systemic institutions it surveyed. Its concerns were focused mainly on internal governance, which accounted for 28% of the 101 total directions issued. The report also noted that 76% of significant institutions had measures imposed upon them to mitigate internal governance and risk management-related deficiencies.

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