The European Banking Authority has published a document setting out the methodology for peer reviews, including the guidance and procedures for the completion of both self-assessments and review by peers, the reporting and publication requirements, and the follow-up work.

A peer review is an assessment and comparison of the effectiveness of the supervisory activities and the implementation and effectiveness of the provisions of competent authorities. Peer reviews are conducted to strengthen consistency in supervisory outcomes and to facilitate the identification of supervisory best practices across competent authorities.