As well as pushing for further developments at a European level, the Central Bank is driving firms to improve how they execute recovery planning as well as advancing our own approach to resolving insurance firms. Culture Culture is also important for a firm’s resilience.
As you all know, the culture of a firm is pervasive, and relevant to all aspects of how the firm is run, how decisions are made, how risks are considered, how customers are treated, and so on. It is therefore of interest to both prudential and conduct supervisors. And, as is well documented, a cause of legitimate concern both domestically and internationally.