Key developments from 7 – 19 September:

19 September

• ECB Guideline (EU) 2025/1889 of 31 July 2025 amending Guideline (EU) 2022/912 on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer system (TARGET) (ECB/2022/8) (ECB/2025/28) (OJ L, 2025/1889, 19.9.2025)
• EFSF statement following Fitch Ratings’ decision to downgrade the EFSF’s long-term rating by one notch to A+ from AA-
• Commission Delegated Regulation (EU) 2025/1496 of 12 June 2025 amending Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the date of application of the own funds requirements for market risk (OJ L, 2025/1496, 19.9.2025)
• European supervisors asking financial institutions to stay alert to stability risks in uncertain and volatile times
• EIOPA factsheet on the asset allocation of occupational pension funds

18 September

• BIS Innovation Hub Report: Wholesale central bank money in the context of technological innovation

17 September

• ECB Opinion of 17 September 2025 on the establishment of special credit institutions with a lower initial capital threshold of EUR 1 million (CON/2025/28)
• ECB supervisory banking statistics on significant institutions for the second quarter of 2025

15 September

• ECB Guideline (ECB/2025/XX) on the supervisory approach by national competent authorities to coverage of non-performing exposures held by less significant supervised entities
• ECB consultation on managing legacy NPEs in less significant institutions
• EBA revised list of ITS validation rules
• Commission Delegated Regulation (EU) 2025/1125 of 5 June 2025 supplementing MiCAR with regard to RTSs specifying the information in an application for authorisation to offer asset-referenced tokens to the public or to seek their admission to trading (OJ L, 2025/1125, 15.9.2025)
• Commission Implementing Regulation (EU) 2025/1126 of 5 June 2025 laying down ITSs for the application of MiCAR with regard to the establishment of standard forms, templates and procedures for the information to be included in the application for authorisation to offer asset-referenced tokens to the public and to seek their admission to trading (OJ L, 2025/1126, 15.9.2025)