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Guidance on Supervisory Interaction with Financial Institutions on Risk Culture (A Framework for Assessing Risk Culture)

  Author: FSB ( Financial Stability Board )
 April, 2014
  Price: FREE

Abstract:

Increasing the intensity and effectiveness of supervision is a key pillar of the FSB's efforts to reduce the risks posed by systemically important financial institutions (SIFIs). A more intense and effective approach to oversight aims to deliver pre-emptive, rather than reactive, outcomes-based supervision. An anticipatory and strategic approach to supervision rests, among other things, on the ability to engage in high-level sceptical conversations with the board and senior management on the financial institution's risk appetite framework, and whether the institution's risk culture supports adherence to the board-approved risk appetite.
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0.2545 s