51. Competent authorities should engage in regular monitoring of key financial and non-financial indicators to monitor changes in the financial conditions and risk profiles of institutions. Competent authorities should also use this monitoring to identify the need for updates to the assessment of SREP elements in light of new material information outside of planned supervisory activities. Where monitoring reveals a material change in the risk profile of the institution, or any anomalies in the indicators, competent authorities should investigate the causes, and, where relevant, review the assessment of the relevant SREP element in light of the new information.
52. Following the model of minimum engagement discussed in Title 2, competent authorities should monitor key financial and non-financial indicators at least on a quarterly basis for all institutions. However, depending on the specific features of the institutions or situation, competent authorities may establish more frequent mon
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