EBU Single Rulebook Q&A 30 October 2019 2019_4972 Chief Risk Officer (CRO) Chairman Credit Risk Committee

Supervisors have identified that for some credit institutions located in some EU countries the CRO acts as Chairman of the Credit Committee.

The question is if this set-up can be considered as fully compliant with the applicable regulation to ensure the independence of the risk management function. The CRO is the chair of a credit risk committee of some local entities.