EBI Regulatory Report #236

  • Date November 24, 2025

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

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


Key developments from 17 – 21 November:
 
21 November
  • Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
  • Framework for Threat Intelligence-based Ethical Red Teaming (TIBER-EU) guide – How to implement the TIBER-EU framework for the DORA TLPT of significant institutions
  • European Systemic Risk Board (ESRB): Recommendation of 25 September 2025 on third-country multi-issuer stablecoin schemes (ESRB/2025/9) (OJ C, C/2025/6342, 21.11.2025)
20 November
  • OECD: GDP growth shows a mixed picture across its member countries in the third quarter of 2025
  • Financial Stability Board (FSB) Chair: Evolution of private credit markets and stablecoins warrant close monitoring
  • FSB & G20: Strengthening global financial resilience
  • CPMI: Safety and efficiency through payment pre-validation: spotting issues before money moves
  • Commission: Proposals to boost supplementary pensions to help ensure adequate retirement income
19 November
  • Opinion of the ECB of 18 November 2025 on a proposal for a fiscal simplification package containing targeted changes to certain Union economic governance rules (CON/2025/37)
  • FSB Plenary: 2026 work plan
  • Basel Committee on Banking Supervision: continues to prioritise Basel III implementation, approves final principles on third-party risks and agrees to expedite targeted review of crypto-asset standard
  • ESMA: No changes for Data Reporting Services Providers following 2025 Assessment of Derogation Criteria
18 November
  • ECB/SSM: capital requirements broadly stable for 2026 amid persisting global challenges
  • ECB/SSM: Supervisory Priorities 2026-2028
  • International Association of Insurance Supervisors (IAIS): Insurance supervisors reach globally agreed path forward on addressing risks from structural shifts in the life insurance sector
  • Commission Implementing Regulation (EU) 2025/2312 of 17 November 2025 laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 30 September 2025 until 30 December 2025 in accordance with the Solvency II Directive (OJ L, 2025/2312, 18.11.2025)
  • ESAs: designation of critical ICT third-party providers under the DORA
17 November
  • ECB: review of risk control framework for monetary policy credit operations
  • Commissioner Dombrovskis: Press conference presenting the Autumn 2025 Economic Forecast
  • FSB: Practices Paper on the Operationalisation of Transfer Tools
  • IOSCO: Consultation Report on Valuing Collective Investment Schemes
  • ESMA: Identification of measures to further enhance Depositary Supervision
  • EIOPA: Submission of technical standards on new macroprudential requirements following the Solvency II review
  • BIS Innovation Hub: Project Rio: Fast-paced market monitoring


All previous reports are kept in four (4) archives. These can be found here.

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