51. In order to ensure appropriate frequency of supervisory activities related to SREP for Category 2 institutions, competent authorities should:
a. monitor key indicators on a quarterly basis;
b. produce a documented summary of the overall SREP assessment at least annually;
c. update the assessments of all individual SREP elements at least every 2 years;
d. inform the institution of the outcome of the overall SREP assessment at least every 2 years;
e. have ongoing engagement and dialogue with the institution's management body and senior management to assess each SREP element.