Discussed the Supervisory Review and Evaluation Process of AB SEB Bank
The Board of the Bank of Lithuania was provided with information on the Supervisory Review and Evaluation Process of AB SEB Bank and its results. During it, the process of evaluation of the Bank’s internal capital was assessed.
As AB SEB Bank is within Sweden’s SEB group, during the Supervisory Review and Evaluation Process the Bank of Lithuania closely cooperated with the institutions performing the supervision of the SEB group (of Swedish financial institutions in particular). The performed evaluations of all countries were discussed at a meeting of the SEB Supervisory College held in Stockholm. The coordinator of the work of the College (a representative of the Swedish Supervisory Authority) performed evaluation summaries of all the countries, prepared a report on the Supervisory Review and Evaluation Process of the entire SEB group which included the observations made by the members of the College.
In 2011 the SEB group’s Supervisory College adopted a joint decision regarding the capital adequacy of the Group’s units and the entire Group. Implementing the internal capital adequacy process and enhancing risk management in 2012, AB SEB Bank must take into account the Bank of Lithuania’s observations recorded in the report on the SEB group’s Supervisory Review and Evaluation Process.
The Bank of Lithuania, as a supervisory authority, checks each domestic bank’s internal capital adequacy assessment process at least once per calendar year.