On 10 February 2025, the European Central Bank (ECB) issued a document that reminds EU banks of some of the ECB’s main supervisory expectations on sound and effective capital and liquidity management in line with the 2018 ECB guides on the internal capital/liquidity adequacy assessment processes (ICAAP / ILAAP). The document provides certain clarifications on the governance around the submissions and key content areas which should be reflected in ICAAP and ILAAP packages.