April ICAS Newsletter - Issue 18/2023

The common supervisory impetus across the EU met its goal for most of the supervisory priorities set in the EBA European Supervisory Examination Programme for 2022 ("ESEP"), although competent authorities are still in the process of building up their capacity to review the risks associated with the digital transformation and environmental, social and corporate governance ("ESG"). Competent authorities also showed ability to react to macro events that affected the financial situation of institutions under their supervision, though timely information exchange and cooperation should be enhanced. Lastly, supervisors consciously applied proportionality in their supervisory practices.