European Central Bank Initiates Reform to Streamline Supervisory Guidance

The European Central Bank (ECB) announced an initiative to streamline its supervisory guidance as part of a 'comprehensive reform agenda for European banking supervision.' This effort will involve assessing all supervisory guides, reports, letters, and methodologies for relevance, effectiveness, and clarity, with some publications to be discontinued or revised. The ECB aims to ensure its guidance remains clear, consistent, and fit for purpose.