This technical note focuses on regulation and supervision of less significant institutions as part of the Slovak Republic’s Financial Sector Assessment Program. Národná banka Slovenska’s (NBS) supervisory approach focuses on Less Significant Institution (LSI) risks and vulnerabilities however streamlining some of the off-site activities while enhancing on-site inspections will increase its overall effectiveness of assessments of LSI’s risk management practices across key risk areas. Although NBS undertakes on-site inspections across several subject areas, the focus on the effectiveness of LSIs’ risk management practices needs to be enhanced as well as an augmentation of supervisory resources. NBS’ capital requirements for LSIs follow the EU framework, including the assessment of capital buffers established in the EU Capital Requirement Regulation. NBS is proactively addressing several key supervisory priorities simultaneously; however, there is room to enhance certain regulatory gaps with the Basel framework. NBS undertakes on-site inspections and off-site monitoring of LSI’s compliance with Anti-Money Laundering/Countering the Financing of Terrorism regulatory and supervisory requirements.