The Bank of Greece proceeded with the update of the bank’s internal governance framework, in the context of its modernization and the establishment of more effective governance regulations based on the principle of proportionality, as announced.

Specifically, as announced by the Bank of Greece, through the publication of no. 243/2/07.07.2025 Executive Committee (WIF), updated the existing institutional framework regarding the internal governance of credit and financial institutions, adopting the relevant guidelines of the European Banks Authority (EBA/GL/2021/05).

This PAE abolishes PD/TD 2577/9.3.2006 “Framework of Operating and Evaluation Criteria of the Organization and Internal Audit systems of credit and financial institutions and relevant responsibilities of their administrative bodies”, however, some provisions of the above PD/TE/TE continuing to enhance the supervisory work of Greece.

The aim of the PCE is to modernize the internal governance framework and to establish more effective governance regulations based on the principle of proportionality.

In this regard, in principle, the responsibilities and composition of the Board of Directors and its committees clearly specify the concept of independence of internal control functions and the responsibilities of both such functions and their heads are defined.

In addition, it is envisaged to develop a good internal control framework that includes a holistic risk management framework that incorporates, among other risks, to manage the risk of money laundering (money laundering) and the funding of terrorism (AML/CFT) and the risk of non -implementation of environmental and non -environmental and environmental implementation.

According to the provisions of this WIP, the development of a strong risk management culture is enhanced, promoting high ethical and professional standards through the establishment of a Code of Conduct, and the obligation to establish a political conflict of interests and processes of infringement is provided.

The reports of reports to the Bank of Greece and the deadlines are redefined, taking into account their use for supervision purposes.

Taking into account the weight of the new requirements established with the EIA, it is projected to comply with the institutions by October 1, 2025.