52. In order to ensure appropriate frequency of supervisory activities related to SREP for Category 3 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 3 years, or sooner in light of material new information emerging on the risk posed;
d. inform the institution of the outcome of the overall SREP assessment at least every 3 years;
e. have risk-based engagement and dialogue with the institution's management body and senior management (i.e. where necessary) to assess the material-risk element(s).