A small, deliberately-capped membership for CROs, CFOs and Heads of Group Risk at European, GCC and US banks. Proprietary benchmarks. Monthly Partner call. A private group of peers. The regulatory intelligence we used to send our mandated clients only.
We do not scale this. When the seats are taken, the waiting list opens. Membership renewals are reviewed annually on fit, not on renewal form.
Every major advisory firm gives away its "insights" for free because their commercial model depends on it — the insights funnel a day-rate sale. Ezelman does the opposite. The public Regulatory Radar is a preview. The benchmarks on the public site are summaries. The real work sits behind a paid, capped membership.
We do this for three reasons. One, scarcity is signal: a view you pay for is a view we will stand behind. Two, a paid member list is a CRO-grade network — and it is the network that creates the insight, not us. Three, because a capped membership is a boutique move — a senior-only CRR3 and OSI specialist can hold the list at 60 in a way a generalist firm with thousands of seats structurally cannot.
If you are in the membership, you get the benchmark before the rest of the market. If you are not, you can still work with us — but we will be louder in the room for our members.
Practitioner essays on CRR3, Pillar 2G, ECB on-site and stress testing. ~2 essays / month. No spam, no vendors, unsubscribe anywhere.
These are published in the clear — the same long-form practitioner voice that our members read in the gated intelligence, on subjects that cannot be compressed into a bullet. If you read one and want the quarterly benchmark that sits behind it, that is what the membership is for.
The ECB doesn't publish the formula, the board doesn't see the draft, and by the time the JST letter lands the number is already set. Here is the machinery — and the operational test that separates banks exiting cycles at zero bps.
Done properly, it converts a qualitative supervisory concern into a quantitative governance artefact — and changes the Pillar 2G trajectory inside a cycle. Most banks still run it as a narrative exercise.
An on-site is not an audit. It is a structured adversarial engagement — and the first 48 hours decide the next six months.
Level 1 is signed. More than a hundred EBA mandates sit behind it. The banks that will be ready in 2028 are the ones that read the CCF RTS as a forecast, not a technical update.
The 2025 EBA cycle exposed the same preparation gap we saw in 2023. The fix is not a better engine. It is a different kind of programme — and a board that owns the reverse stress test.
The stress test that sets Pillar 2G for the next three years is not the one you are running. It is the one you are quietly preparing for this year. Methodology, ESRB scenario anchors, starting points, management-action discipline, on public data.
Basel IV in the US, the UK and the GCC will not look like the Basel text. It will look like what CRR3 implementation actually produced inside European G-SIBs. The ground truth is worth importing.