ZBB 2026, 136
Supervisory Intrusiveness and the Evolution of On-Site Inspections and Internal Model Inspections under the SSM
The development of on-site inspections (OSIs) and internal model investigations (IMIs) under the Single Supervisory Mechanism (SSM) reveals how European banking supervision has evolved from a rule-based system to one grounded in professional judgement, operational integration, and forward-looking risk assessment. These missions embody supervisory intrusiveness in practice – they are the physical expression of the SSM’s mandate to assess banks’ governance, risk management and capital adequacy. Yet, they also bring to the fore essential questions of legality, proportionality and due process. This article explores that dynamic, analysing how OSIs and IMIs have matured into a cornerstone of the ECB’s supervisory architecture, and what this evolution means for the balance between discretion and accountability within the SSM.
Contents
- I. Introduction: The Supervisory Function and Its Legal Foundations
- II. Objectives and Methodology of On-Site Inspections and Internal Model Inspections
- III. Planning and Conduct of Missions
- IV. Integration of Horizontal and Vertical Dimensions
- V. Digitalisation and Methodological Innovation
- VI. Legal and Due-Process Considerations
- VII. Supervisory Judgement and Accountability
- VIII. Concluding Reflections
- *
- *)Member of the Supervisory Board of the European Central Bank (ECB), Frankfurt/M.; former Board Member, Single Resolution Board (SRB). The views expressed herein are strictly personal and do not necessarily reflect those of the ECB or the SRB. I would like to thank Florent Bonnard, Gaëlle Chalas, Pietro Giammario, Robert Lauter, Laurent Mercier, Vincent Moss, Marco Rocco and Anke Veuskens for their contribution to the preparation of the slide deck I presented at the SRB Legal Conference on 18 June 2025, which this article closely follows.
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