53. In order to ensure appropriate frequency of supervisory activities related to SREP for Category 4 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, tailoring the scope and depth of the review of such an update to the specific risk profile of the institution;
d. inform the institution of the outcome of the overall SREP assessment at least every 3 years;
e. have engagement and dialogue with the institution's management body and senior management at least every 3 years.