ECB Onboarding

The ECB Onboarding workstream support banks who are transitioning to come under the supervision of the ECB.

Introduction

The ECB Onboarding workstream is designed to support banks who are transitioning to come under the supervision of the ECB. This change in supervisory authority typically signifies a shift to more intensive oversight, presenting various operational challenges for the institutions involved. Our role is to guide these banks through the complexities of ECB supervision, ensuring they understand and can effectively manage the new regulatory landscape.

Challenges

Comprehensive assessment as entry point to the SSM

The ECB performs an initial health check on banks that are newly classified or soon to be classified as significant, thus falling under direct ECB supervision. This ‘Comprehensive Assessment’ includes an Asset Quality Review (AQR) that scrutinises credit risk, market risk, and governance processes, and also places these banks into the regular supervisory stress tests conducted by ECB Banking Supervision.

Challenges faced by banks in the Comprehensive Assessment include providing consistent and detailed data, managing multiple complex requests simultaneously, and maintaining the timeliness and quality of their responses. These factors are critical to successfully navigating the Comprehensive Assessment process.

How we can help

PwC has supported numerous banks in various ECB Onboarding related projects. 

As a leading consulting firm, we can work closely with your organisation to deliver high-quality outcomes across all aspects of the ECB Onboarding. We can also advise on value-adding initiatives, identify areas requiring enhancements, and support clients on ensuring compliance with regulatory requirements. 

We can assist you with the following topics:

Contact us

Savin  Dyankov

Savin Dyankov

ECB Onboarding Workstream Lead, Director, PwC Bulgaria

Tel: +359 89 732 2113

Strategy + business, a PwC publication

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