Within the single supervisory mechanism (SSM), we will also have a single supervisory manual that will apply to all banks. This will cover issues like the methodology for the Supervisory Review and Evaluation Process (SREP), off-site and on-site reviews, risk assessments and model validations.
Resolving those issues can, for example, reinforce the effects of the targeted long-term refinancing operations that the ECB is offering to banks to support the supply of credit at the present juncture.