Every quarter, KPMG ECB Office brings you news and insights into issues relating to the Single Supervisory Mechanism (SSM). This quarterly newsletter seeks to cover the key issues that the ECB are talking about, and the questions and topics that KPMG member firms are discussing among banks and others in the industry. It aims to highlight both current and upcoming change by identifying potential effects on financial institutions' strategies and operations.

The articles in this edition pick up on several themes, while focusing on the practical implications for individual banks.

• The likely shape and timing of the ECB’s dedicated Liquidity Stress Test in 2019 (LiST 19) – and the importance for banks of putting the right human and data resources in place;
• The need for banks to look beyond the TRIM guidelines as they assess model risks that could arise from new, complex models powered by AI and re-design the model risk management framework;
• The growing importance of change management in Internal Audit, as Heads of IA adapt to fast-changing supervisory, commercial and technological pressures;
• How the complexities of reforming Europe’s risk-free benchmark rates is putting pressure on banks to prepare for a challenging period of transition; and
• The need for senior bankers entering SSM supervision as a result of Brexit to learn the rules, customs and language of the SSM - and prepare for fit and proper tests.
• Lastly, a new report published by the ECB Office looks ahead with a detailed review of the SSM’s supervisory priorities in the New Year. This should help banks to draw a heat map of likely areas of scrutiny for 2019.
  

December 2018 (PDF 411 KB)

October 2018 (PDF 134 KB)

June 2018 (PDF 125 KB)

March 2018 (PDF 123 KB)

December 2017 (PDF 148 KB)

September 2017 (PDF 126 KB)

May 2017 (PDF 131 KB)

February 2017 (PDF 130 KB)

December 2016 (PDF 127 KB)

September 2016 (PDF 132 KB)

May 2016 (PDF 124 KB)

February 2016 (PDF 128 KB)