Report on the convergence of supervisory practices in 2021
EBA sees progress in implementing supervisory review and evaluation process and supervisory priorities for 2021, but still sees room for improvementThe EBA has published its annual report on the convergence of supervisory practices for 2021. Competent authorities have made progress in implementing the EBA guidelines for the supervisory review and evaluation process (SREP). The report also reflects the consistent implementation of key supervisory priorities for 2021 in their supervisory practices. However, the report expects competent authorities to make additional efforts on issues such as ICT risks, especially cyber risks, and challenges in business models and related digital transformation. In addition, the report highlights the need for more harmonized practices in setting capital add-ons.