- Competent authorities should monitor key indicators on a quarterly basis.
- Competent authorities should produce a documented summary of the overall SREP assessment at least annually.
- Competent authorities should update the assessments of all individual SREP elements at least every 2 years. For risks to capital and risks to liquidity and funding, this should include assessment of at least the most material individual risks.
- Competent authorities should inform the institution of the outcome of the overall SREP assessment at least every 2 years, and particularly provide:
- a statement on the quantity and composition of the own funds the institution is required to hold in excess of the requirements specified in Chapter 4 of Title VII of Directive 2013/36/EU and in Regulation (EU) No 575/2013 relating to elements of risks and risks not covered by Article 1 of that Regulation;
- a statement on the liquidity held and any specific liquidity requirements set by the competent authority; a
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