More recently, the ECB President, the Supervisory Board Chair and I shared publicly some information about the overall impact of SREP decisions. 2  BIS central bankers’ speeches  So, all in all, I believe that in its first year of operation the SSM has been a supervisor which has maintained a dialogue with all the stakeholders concerned.
Now there are also challenges associated with transparency and communication. The right level of transparency has to be found. Banks need to clearly understand what shapes the supervisor’s assessment so that they can better explain their situation and also have the right incentives to improve their risk profiles.