Public consultation on the Guide on governance and risk culture

This consultation gives interested parties the opportunity to comment on the draft Guide on governance and risk culture.

The deadline for submitting comments is midnight (24:00) CET on 16 October 2024.

Only comments received before this deadline will be considered.

Guide on governance and risk culture

The Guide reflects the ECB’s focus on diverse and effective management bodies, which is a supervisory priority of the Single Supervisory Mechanism (SSM), as well as its experiences over the past ten years, and sets out supervisory expectations regarding the governance and risk culture of supervised banks. 

The Guide replaces the SSM supervisory statement on governance and risk appetite from 2016, providing banks with a roadmap to a more effective internal governance and risk culture.

In particular, the Guide clarifies supervisors’ expectations regarding how management bodies and committees should be composed and function, spells out the roles and responsibilities of the internal control functions, emphasises the importance of risk culture and outlines expectations regarding the risk appetite frameworks of banks.

The Guide reflects recent updates to standards set by, among others, the European Banking Authority (EBA) and provides examples of good practices collected by the ECB over a number of years. It aims to serve as a practical reference point for banks. 

Submitting comments

Submit your comments by midnight (24:00) CET on 16 October 2024 using this template.

So that comments can be processed automatically, please do not change the template structure or the file format. Where appropriate, please provide relevant examples or data.

Only comments sent using the above template will be published after the close of this public consultation.

Submitting comments by email:

Using the above template, send your comments to SSMPublicConsultation@ecb.europa.eu.

In the subject line, please write “Public consultation on the Guide on governance and risk culture”.

Submitting comments by post:

Using the above template, send your comments to:

European Central Bank
Secretariat to the Supervisory Board
“Public consultation on the Guide on governance and risk culture”
60640 Frankfurt am Main
Germany

Stakeholder meeting on 26 September 2024

As part of the public consultation process for the Guide on governance and risk culture, the ECB will organise a stakeholder meeting during the consultation period, at 11:00 CET on 26 September 2024, bringing together relevant experts from supervised institutions and other interested parties. The meeting will be held online.

The event will be opened by Vice-Chair of the ECB’s Supervisory Board, Frank Elderson, followed by a panel discussion moderated by Supervisory Board member Elizabeth McCaul and composed of senior representatives from the banking industry and the supervisory community.

If you are an industry stakeholder and are interested in participating in this event, please express your interest via this registration link by 17:00 CET on 6 September 2024, after which we will confirm the participation of all relevant stakeholders.

If you have any questions about the Guide that you would like to have considered during the stakeholder meeting, please submit them by email to Governance_and_Risk_Culture_Guide@ecb.europa.eu by 17:00 CET on 30 August 2024. Only questions received before this deadline will be considered for discussion in the stakeholder meeting.

Data protection

For details on how your personal data and contribution will be handled, please see this privacy statement:

Privacy statement