EBI Regulatory Report #220

EBI Report
on
Economic Policy and Financial Regulation Measures:
International, EU and Euro Area Levels
(14 June 2025)

Professor Dr. Christos V. Gortsos and Daphne Farmaki
(Law School, National and Kapodistrian University of Athens)

All previous entries have been put in 4 archives, which can be retrieved here.

Main developments during the weeks 2 – 13 June:

13 June

  • Basel Committee on Banking Supervision: publication of framework for voluntary disclosure of climate-related financial risks

12 June

  • ECB/Eurosystem: adding indicator of nature loss in climate-related financial disclosures as portfolio emissions continue to decline
  • Council: approval of decision to maintain certain bank liquidity rules under the CRR
  • Commission: adoption of a delegated act postponing by one additional year – until 1 January 2027 – the date of application of the one remaining part of the Basel III international standards in the EU – the Fundamental Review of the Trading Book (FRTB)
  • Financial Stability Board (FSB): Plenary meeting in Madrid
  • EBA: revised list of validation rules on supervisory reporting
  • ESMA: Principles for Third-party Risk Supervision
  • ESMA: Advice and Recommendations to Streamline Prospectuses

11 June

  • ECB and People’s Bank of China: Memorandum of Understanding on cooperation
  • European System of Central Banks (ESCB): reply to the Commission’s targeted consultation on integration of EU capital markets

10 June

  • Commission Delegated Regulation (EU) 2025/1140 of 27 February 2025 supplementing MiCAR with regard to RTSs specifying records to be kept of all crypto-asset services, activities, orders and transactions undertaken (OJ L, 2025/1140, 10.6.2025)
  • Commission Delegated Regulation (EU) 2025/1141 of 27 February 2025 supplementing MiCAR with regard to RTSs specifying the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens (OJ L, 2025/1141, 10.6.2025)
  • Commission Delegated Regulation (EU) 2025/1142 of 27 February 2025 supplementing MiCAR with regard to RTSs specifying the requirements for policies and procedures on conflicts of interest for crypto-asset service providers and the details and methodology for the content of disclosures on conflicts of interest (OJ L, 2025/1142, 10.6.2025)
  • ECB Decision (EU) 2025/1148 of 2 June 2025 amending Decision (EU) 2025/222 on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts (ECB/2025/2) (ECB/2025/18) (OJ L, 2025/1148, 10.6.2025)
  • EBA: No Action letter on the interplay between Payment Services Directive (PSD2/3) and MiCAR
  • SRB: Single Resolution Board banks continue to meet their MREL targets at end 2024
  • ESMA: latest edition of its Newsletter

6 June

  • ECB/Eurosystem: Public consultation on possible extension of T2 operating hours
  • ESRB: response to ESMA consultation on the draft technical standards to further detail the new EMIR clearing thresholds regime

5 June

  • ECB/Eurosystem: Monetary policy decisions – lowering of the three key ECB interest rates by 25 basis points
  • ECB/Eurosystem: ECB staff macroeconomic projections for the euro area, June 2025
  • BIS Innovation Hub: Project Hertha: Identifying financial crime patterns in real-time retail payment systems

4 June

  • ECB/Eurosystem: reports on Bulgaria’s progress towards euro adoption OECD: Ministerial Council Outcomes
  • EBA: Opinions on two measures to address macroprudential risk following notifications by the Swedish FSA

3 June

  • ECB Opinion of 2 May 2025 on a proposal for a regulation of the European Parliament and of the Council amending the CRR as regards requirements for securities financing transactions under the net stable funding ratio (CON/2025/9) (OJ C, C/2025/3176, 3.6.2025)
  • ESM: Evaluation Report on Analytical Capability