ECB Banking Supervision directly supervises the 118 biggest banking groups in the euro area – with over € trillion euros in total assets. Clearly, these banks – some in their own right, some 7 / 10  BIS central bankers' speeches  as part of a group – are systemically relevant.
Given their huge role in financing the euro area economy, their resilience is key to financial stability. The first step is for the supervisor to obtain a holistic view of each of these banks, not only assessing capital and liquidity risks, but also their internal controls and governance.