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    ECB Guide to On-Site Inspections and Internal Model Investigations

    September 21, 2018

    ECB finalized the guide to on-site inspections and internal model investigations, following a public consultation. The guide, which was drafted in close cooperation with the national competent authorities, explains how ECB Banking Supervision conducts inspections and provides a useful document for banks subject to such inspections. ECB also published the comments received to the consultation on this guide, along with the feedback statement on these comments.

    The guide provides an overview of the general framework under which inspections are conducted, describes the different inspection phases, and sets out the principles for inspections to be followed by both banks and inspection teams. Inspections are a critical tool for banking supervision worldwide. Banks are inspected to provide an in-depth analysis of different risks, internal control systems, business models, or governance. Inspections have a predefined scope and timeframe and take place on the premises of the inspected bank or a related legal entity. Inspections should be intrusive while adhering to the principle of proportionality and aim to provide a detailed snapshot of the situation of a given bank, including a forward-looking analysis. 

     

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    Keywords: Europe, EU, Banking, On-Site Inspections, Internal Model Investigations, Guide, ECB

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