The European Central Bank (ECB) has made changes to the organisational structure of its supervisory arm for better supervision of banks in the euro area.
Beginning the fourth quarter, banks will be grouped together according to their business model, rather than size.
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The overhaul adds two business areas in ECB Banking Supervision with the redistribution of tasks across all seven business areas.
ECB will deploy dedicated business units for supervisory strategy and risk, on-site supervision, and governance and operations activities.
The shakeup is aimed at bolstering supervisory strategy and risk function and enable risk-focused supervision.
ECB chair of supervisory board Andrea Enria said: “Building on six years of experience, we are adapting our operating model so we can sharpen our risk-focused supervision, increase collaboration across business areas and simplify internal processes.
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By GlobalData“The new structure will strengthen the ECB’s role as a prudent, efficient and transparent supervisor for the benefit of all – customers, banks and investors.”
The central bank said that the organisational changes will be headcount-neutral and cost-neutral.
ECB has appointed Patrick Amis as the head of specialised and smaller banks, Korbinian Ibel of universal and diversified banks, and Ramón Quintana of systemic and international banks.
It has appointed Pedro Teixeira as the head of governance and operations, and Stefan Walter of horizontal line supervision.
The head of on-site and internal model inspections business and the supervisory strategy and risk business will be appointed at a later stage.
