in accordance with the rules derived from experience and the theory of enterprise (profitability), not subject to improper influences (independence) and based on correct business relations - and prudent - i.e. sensitive to risk - will have beneficial results in terms of the orderly and efficient operation of the economic and financial system. Sound and prudent management is an overarching criterion for supervisory activity.
It sums up the values of stability, efficiency, integrity and proper functioning of the financial system. It is where systemic objectives and microeconomic goals meet. As a norm, it requires that intermediaries’ dealings with firms and households be constantly inspired by the canons of business and professional ethics, transparency, legality, fair competition.