95. Institutions should have in place policies and procedures for the induction and training of members of the management body. The policy should be adopted by the management body.

96. The human and financial resources provided for induction and training should be sufficient to achieve the objectives of induction and training and to ensure that the member is suitable and meets the requirements for his or her role. When establishing the human and financial resources required to deliver effective policies and procedures for the induction and training of the members of the management body, the institution should take into account available relevant industry benchmarks, for example relating to available training budget and training days provided, including benchmarking results provided by the EBA. [The annex to the impact assessment of these Guidelines includes EBA benchmarking results (2015 data) for training resources and training days provided by institutions. ]

97. The policies and procedures for induction and training may be part of an overall suitability policy, and should at least set out:

a. the induction and training objectives for the management body, separately for the management function and the supervisory function where applicable. This should also include where appropriate, the induction and training objectives for specific positions according to their specific responsibilities and involvement in committees.

b. the responsibilities for the development of a detailed training programme;