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ARTICLE · 16 OCTOBER 2024

Looking Ahead: European Developments - Horizon Scanner: Finance, October 2024

Arthur Cox
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The consultation by the European Central Bank (ECB) on its new draft Guide on governance and risk culture closes on 16 October 2024.

European UnionFinance and Banking
Arthur Cox
Arthur Cox
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BANKS - GOVERNANCE AND RISK CULTURE

The consultation by the European Central Bank (ECB) on its new draft Guide on governance and risk culture closes on 16 October 2024. The new guide would replace the ECB's 2016 SSM supervisory statement on governance and risk appetite, and aims to give banks a roadmap to a more effective internal governance and risk culture. It sets out expectations regarding how management bodies and committees should be composed and function, sets out the roles and responsibilities of the internal control functions, emphasises the importance of risk culture and outlines expectations regarding banks' risk appetite frameworks.

BANKS – INTERNAL MODELS

The consultation paper from the European Banking Authority (EBA) amending the implementing technical standards (ITS) on the joint decision process for internal model authorisation under the Capital Requirements Regulation (CRR) closes for feedback on 16 October 2024. The revised ITS are part of

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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