Another important aspect for supervisors is to make sure that a bank is compliant with  BIS Review 28/2005  5  Pillar 1 on an ongoing basis. Let me cover this second part of the supervisory review and evaluation process first. During the last year BaFin and Bundesbank prepared for the approval process of internal rating systems.
Mr Meyer, Mr Merk, let me wish both of you all the best and good luck for this quite challenging and responsible position. I look forward to a close and trusting cooperation. Thank you for your attention. 2  BIS central bankers’ speeches