EBI Regulatory Report #225

EBI Report
on
Economic Policy and Financial Regulation Measures:
International, EU and Euro Area Levels
(8 September 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 period 11 July – 5 September:

14 July

  • Response to the public consultation on a proposed recast of the ECB Regulation on oversight requirements for systemically important payment systems (SIPS Regulation)
  • FSB Chair’s letter to G20 Finance Ministers and Central Bank Governors: July 2025
  • FSB Roadmap for Addressing Financial Risks from Climate Change: 2025 update 

15 July

  • ESRB Annual Report 2024
  • ESAs publish guide on DORA Oversight activities 

  16 July

  • Progress on the preparation phase of a digital euro – Third progress report
  • ECB finalises Guide on outsourcing cloud services  
  • EBA publishes Handbook on simulation exercises for resolution authorities

18 July

  • New Q&As Available
  • Commission Implementing Regulation (EU) 2025/1420 of 17 July 2025 laying down rules for the application of Regulation (EU) 2024/903 of the European Parliament and of the Council, as regards the establishment and the operation of the interoperability regulatory sandboxes (OJ L, 2025/1420, 18.7.2025)
  • Euro area monthly balance of payments: May 2025

21 July

  • IAIS collaborates with the World Bank Group to develop G20 input paper on natural catastrophe protection gaps 

22 July

  • EIOPA opens consultation on rules for resolution colleges and reporting requirements under IRRD
  • EU Balance of Payments and International Investment Position statistical sources and methods – B.o.p. and i.i.p. e-book·       July 2025 euro area bank lending survey

23 July

  • EIOPA monitoring exercise marks progress in the integration of climate change considerations into insurers’ risk assessments
  • Payments statistics: second half of 2024
  • EBA publishes Report on direct provision of banking services from third countries

24 July

  • Monetary policy decisions
  • ESMA Prepares For Switch Toward Single Volume Cap In October 2025
  • EIOPA highlights progress in follow-up to peer review on outsourcing

25 July

  • Letter from the ECB President to Ms Scheuring-Wielgus, MEP, on new banknotes:
  • Recommendation ECB/2025/26 amending Recommendation ECB/2017/10 on common specifications for the exercise of some options and discretions available in Union law by national competent authorities in relation to less significant institutions
  • Guideline ECB/2025/25 amending Guideline (EU) 2017/697 on the exercise of options and discretions available in Union law by national competent authorities in relation to less significant institutions (ECB/2017/9
  • Regulation ECB/2025/24 amending Regulation (EU) 2016/445 on the exercise of options and discretions available in Union law (ECB/2016/4)
  • ECB clarifies harmonised approach to policy choices offered by EU law
  • Commission Delegated Regulation (EU) 2025/753 of 16 April 2025 supplementing Regulation (EU) 2023/2631 of the European Parliament and of the Council by establishing the content, methodologies, and presentation of the information to be voluntarily disclosed by issuers of bonds marketed as environmentally sustainable or of sustainability-linked bonds in the templates for periodic post-issuance disclosures (OJ L, 2025/753, 25.7.2025)
  • Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
  • Monetary developments in the euro area: June 2025 

28 July

  • ECB publishes revised guide to internal models
  • A careless use of innovative compliance products can lead to money laundering and terrorism financing risks, the EBA says in its Opinion
  • The ECB Survey of Monetary Analysts: Agregated Results (July)

29 July

  • ECB Consumer Expectations Survey results – June 2025

30 July

  • EBA publishes additional data guidance ahead of the release of its 2025 EU-wide stress test
  • New data release: ECB wage tracker continues to show easing wage pressures

31 July

  • Statistical release: BIS international banking statistics and global liquidity indicators at end-March 2025 
  • EU banks continue to meet their MREL requirements set by Resolution Authorities on the basis of the identified resolution strategies
  • EBA consults on harmonised reporting for third-country branches across the EU
  • EIOPA’s risk dashboard shows stable risk landscape for occupational pension funds although geopolitical uncertainties worsen the outlook for macro and market risks

1 August

  • Commission Delegated Regulation (EU) 2025/789 of 23 April 2025 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards specifying the conditions and indicators that the EBA is to use to determine whether extraordinary circumstances in the sense of Article 325az(5) and Article 325bf(6) of that Regulation have occurred (OJ L, 2025/789, 1.8.2025)
  • Stress test shows that euro area banking sector is resilient against severe economic downturn scenario
  • EBA publishes the results of its 2025 EU-wide stress test
  • ESMA Publishes Data For Quarterly Bond Liquidity Assessment
  • Decision ECB/2025/29 on safeguards in relation to access by central counterparties to Eurosystem overnight credit in TARGET
  • Guideline ECB/2025/28 amending Guideline (EU) 2022/912 on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) (ECB/2022/8)

4 August

  • EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

5 August

  • The EBA publishes draft technical standards on the prudential treatment of crypto asset exposures under the Capital Requirements Regulation
  • OECD headline inflation increases slightly to 4.2% in June 2025
  • EBA consults to simplify and streamline its technical standards on resolution plans and on the functioning of resolution colleges

6 August

  • EIOPA publishes Opinion on AI governance and risk management
  • EBA issues a no-action letter on the application of ESG disclosure requirements and updates the EBA ESG risks dashboard with December 2024 data
  • ECB publishes supervisory banking statistics on significant institutions for the first quarter of 2025
  • EBA publishes its final draft technical standards on the equivalent legal mechanism for unfinished property exposures under the Standardised Approach for credit risk

7 August

  • Economic Bulletin Issue 5, 2025
  • Growth in real household income slows in the first quarter of 2025
  • EBA consults on revised Guidelines on internal governance
  • SRB publishes operational guidance for banks on resolvability self-assessment 

8 August

  • EBA publishes statement confirming its response to the new European Commission’s Delegated Act postponing the market risk framework in the EU
  • EBA amends technical standards specifying the data collection for the 2026 benchmarking exercise

11 August

  • First-quarter of 2025 supervisory data shows that the EU/EEA banking sector remains robust, despite increased cost of risk, the EBA Risk Dashboard finds

12 August

  • SupTech can make anti-money laundering and countering the financing of terrorism supervision more effective, the EBA finds 

13 August

  • SRB launches public consultation on its updated approach on separability and transferability: towards more efficiency and effectiveness 

15 August

  • Letter from the ECB President to Mr Eickhout, Mr Gerbrandy, Ms Pietikäinen, Mr Saramo and Ms Wolters, MEPs, on the collateral framework

18 August

  • EBA publishes its final standards for off-balance sheet items conversion factors
  • Project Noor: explaining AI models for financial supervision

19 August

  • Euro area monthly balance of payments: June 2025 

20 August

  • Commission Delegated Regulation (EU) 2025/885 of 29 April 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying the arrangements, systems and procedures to prevent, detect and report market abuse, the templates to be used for reporting suspected market abuse, and the coordination procedures between the competent authorities for the detection and sanctioning of market abuse in cross-border market abuse situations (OJ L, 2025/885, 20.8.2025
  • ESMA and The European Environment Agency Signed a Memorandum of Understanding To Strengthen Their Cooperation in sustainable finance area

25 August

  • ECB Survey of Monetary Analysts (SMA), September 2025

26 August

  • G20 merchandise trade showed modest growth in Q2 2025, while services trade growth accelerated amid increased trade uncertainty
  • EBA updates data used for the identification of global systemically important institutions (G-SIIs)

27 August

  • OECD GDP growth rebounds to 0.4% in the second quarter of 2025
  • FSB Annual Financial Report: 2024-25

28 August

  • Monetary Policy Account: Meeting of 23-24 July 2025
  • Monetary developments in the euro area: July 2025 

29 August

  • ECB Consumer Expectations Survey results – July 2025
  • EBA responds to the European Parliament’s observations made in the 2023 Discharge report

1 September

  • ESRB publishes EU Non-bank Financial Intermediation Risk Monitor 2025

2 September

  • Commission Delegated Regulation (EU) 2025/884 of 7 May 2025 amending Delegated Regulation (EU) 2022/930 as regards fees relating to the supervision by the European Securities Markets Authority of consolidated tape providers (OJ L, 2025/884, 2.9.2025)
  • Commission Delegated Regulation (EU) 2025/1768 of 7 May 2025 amending Delegated Regulation (EU) 2022/803 as regards rules of procedure for the exercise of the power to impose fines or periodic penalty payments by the European Securities Markets Authority with respect to consolidated tape providers (OJ L, 2025/1768, 2.9.2025
  • IAIS Newsletter July-August 2025

3 September

  • EIOPA publishes monthly technical information for Solvency II Relevant Risk-Free Interest Rate Term Structures – end-August 2025
  • Monthly update of the symmetric adjustment of the equity capital charge for Solvency II – end-August 2025
  • Euro area bank interest rate statistics: July 2025

5 September

  • Opinion of the European Central Bank of 2 September 2025 on a proposal for a regulation of the European Parliament and of the Council on non-financial commercial real estate statistics
  • EBA welcomes feedback on its draft technical package and new enhanced DPM 2.0 glossary