Frankfurt-based regulators confirmed that approximately 40 of the existing 130 bank reports are being scrapped, as the institution deems them outdated or redundant. The move aligns with a broader global trend of regulatory easing, echoing the deregulatory climate currently championed by the U.S. administration. ECB board member Frank Elderson noted that the objective is to ensure supervisory guidance remains fit for purpose within an increasingly complex risk environment.

Beyond reporting, the ECB is softening its stance on internal bank management, including remuneration policies and whistleblower protections. The previous draft guide on governance will now serve as a non-binding report on best practices. Under this new framework, lenders may remain fully compliant with the law even if they ignore these recommendations, provided they demonstrate appropriate alternative measures. Further reviews regarding sensitive lending practices are already underway, with the ECB expected to finalize those assessments by the end of this year.