We are now focusing on examining the sustainability of business models and the associated risks, also taking into account the impact of technological innovation on the financial system. Assessing governance structures continues to be crucial, since high-quality corporate bodies and executives serve as the primary guarantors of sound and prudent management.
To be effective, supervisory action requires a strong regulatory framework fully aligned with the most rigorous international standards. In late 2021, the European Commission published its proposal for implementing the most recent Basel Accord, finally completing the review of banking regulations begun more than a decade ago. Negotiations between the Council and the European Parliament are currently underway.