The Banking Supervision Directorate is responsible for the prudential supervision of credit institutions, as well as of undertakings and institutions of the financial sector that are subject to the supervision of the Bank of Greece, except from those falling within the scope of the Supervised Institutions Inspection Directorate and the Directorate of Private Insurance Supervision.
Main tasks
The Directorate:
- reviews compliance of supervised entities, on a solo and consolidated basis, with the regulatory framework governing their operation;
- reviews applications for banking licenses and related authorisations and monitors the continued fulfillment of conditions for authorisation;
- monitors, on an ongoing basis, compliance with the capital, liquidity and risk frameworks and cooperates with the European Central Bank in the context of the Single Supervisory Mechanism (SSM);
- develops supervisory methodologies for assessing capital adequacy, securitisation and covered bond risks, as well as for carrying out the Supervisory Review and Evaluation Process (SREP);
- adopts the regulatory framework for the supervision of credit and financial institutions;
- assesses the internal control systems of supervised entities, including risk management and compliance systems;
- supervises transparency in banking procedures and transactions (under the legislation in force, the Bank of Greece has no competence in respect of any unfair contractual clauses);
- analyses the financial statements and supervisory data of credit and other financial institutions;
- identifies vulnerabilities and assesses risks for the banking sector;
- recommends the imposition of administrative sanctions that the Bank of Greece may impose on supervised entities;
- develops supervisory methodologies and issues guidance and other documentation to be used for the identification, monitoring and management of crises, as well as ESG (Environmental, Social and Governance) issues;
- monitors and addresses supervisory quality assurance issues.
The Banking Supervision Directorate comprises the following Divisions:
- Authorisations Division
- Risk Analysis Division
- Other Institutions
Supervision Division
- Non-Systemic Credit
Institutions Supervision
Division
- Systemic Credit Institutions
Supervision Division A
- Systemic Credit Institutions
Supervision Division B
- Risk Supervisory
Methodology Division
- Prudential Reporting
Division
- Regulatory Framework
Division
- Regulatory Framework and
Supervision of Transaction
Transparency and
Complaints Division