Draft Guide on Governance and Risk Culture
The European Central Bank (ECB) has published a draft Guideline on Governance and Risk Culture. This draft comes in the context of improving the governance and risk appetite frameworks (RAF) of significant financial institutions in the euro area, following the shortcomings evidenced during the financial crisis. The new Guideline, which is aligned with European Banking Authority (EBA) guidelines and other international standards, underlines the importance of a robust risk culture and effective governance, and seeks to promote consistent supervisory practices across the euro area, while respecting national specificities. The ECB will host a stakeholder meeting on 26 September 2024. The public consultation on the Risk Culture and Governance Guide will end on 16 October 2024, after which the ECB will publish comments, a feedback statement and the final version of the Guide.
For more information, please visit: https://www.managementsolutions.com/e...