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CEBS has conducted an analysis of its existing risk management guidelines to identify gaps in coverage and other areas where updates to the guidelines would be desirable.
The aim is to enhance and consolidate previously separate presentations and guidelines on risk management in a comprehensive guidebook.
The high-level principles for risk management are intended to be used by both institutions and supervisors in the supervisory review framework under Pillar 2 and may also form the basis of future CEBS guidelines on specific topics.
The high-level principles address governance and risk culture, risk appetite and risk tolerance, the role of Chief Risk Officer and the risk management function, risk models and integration of risk management areas, and new product approval policies and processes.
Deadline for responses is