The European Banking Authority (EBA) launched today a consultation on its draft Guidelines for common procedures and methodologies for the supervisory review and evaluation process (SREP). These guidelines will be applied in the supervision of all institutions across the Union and represent a major step forward in forging a consistent supervisory culture across the single market. The guidelines provide a common framework for the work of supervisors in their assessment of risks to banks' business models', their solvency and liquidity. These guidelines will be a key component of the EU Single Rulebook aimed at improving the functioning of the internal market, including a sound, effective and consistent level of regulation and supervision in the banking sector.
The consultation runs until 07 October 2014.