In a blog post published earlier this week, Claudia Buch, Chair of the Supervisory Board of the European Central Bank (ECB), announced the ECB's intent to update its Supervisory Review and Evaluation Process (SREP).
"The risk environment in which banks operate has evolved substantially in recent years," Buch wrote. “As risks evolve, supervision must evolve too. Supervisors need to understand risks, they need to be forward-looking, they need to communicate clearly with banks, and they need to be intrusive in their actions to ensure that banks remediate their deficiencies.”
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