SSM challenges eurozone banks to improve governance
Supervisor warns most significant banks in eurozone fall short of international best practices
Most significant banks in the eurozone fall short of international best practices around governance and risk appetite frameworks, according to the region's banking supervisor.
The Single Supervisory Mechanism (SSM) offered guidance to boards in a report today (June 23), based on the findings of a thematic review it conducted in 2015. The review covered 113 institutions.
The composition of a board is, the report says, a "key driver" of its effectiveness. This includes its size and structure
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