On 7 July 2026, the Chair of the ECB Supervisory Board, Claudia Buch, wrote to the CEO of every significant institution under a letter numbered SSM-2026-0301 and titled “Addressing AI-enabled cybersecurity threats”. The ECB AI cybersecurity letter does one operationally concrete thing behind its strategic language: it gives each directly supervised bank until 31 October…
A non-EU bank that wants to keep taking deposits, lending, or issuing guarantees in an EU Member State through a branch now has a hard date to work toward: 11 January 2027. On 7 July 2026 the European Banking Authority published its final Guidelines on the authorisation of third-country branches (EBA/GL/2026/08), and they settle the…
On 6 July 2026 the European Securities and Markets Authority (ESMA) selected Etrading Software (Netherlands) B.V. to run the EU’s OTC derivatives consolidated tape, naming it the consolidated tape provider for over-the-counter derivatives under the Markets in Financial Instruments Regulation (MiFIR). It is the third and last asset class under Article 27da of MiFIR to…
On 1 July 2026 the three European Supervisory Authorities each opened a consultation on rewriting the Key Performance Indicators that firms disclose under Article 8 of the EU Taxonomy Regulation. ESMA published a Consultation Paper, the European Banking Authority a Discussion Paper, and EIOPA a consultation on the insurance side. All three close on 12…
On 6 July 2026 the European Banking Authority published its 2025 immovable property loss data: the annual dataset of losses and exposures for residential and commercial property across the EU and EEA. For a standardised-approach credit-risk reporting team, that dataset does real work. It is one of the inputs that decides whether the preferential risk…
Every spring, a Luxembourg reporting team assembles a document that no COREP or FINREP template captures: the institution’s own account of whether it holds enough capital and enough liquidity to survive the risks it actually runs. That account is the ICAAP and ILAAP file, and in Luxembourg its rules sit in Circular CSSF 07/301. The…
The CSSF SREP 2025 supervisory disclosure, published on 29 June 2026, is a short spreadsheet that describes, in the regulator’s own words, how the CSSF runs the supervisory review and evaluation process (SREP) for Luxembourg investment firms. It carries no firm names and no individual scores. For a Class 2 investment firm it is still…
On 3 July 2026 the European Commission adopted two delegated acts that rewrite how the European Sustainability Reporting Standards work: a revised set of ESRS and a new voluntary standard for smaller companies. The revised ESRS cut the number of mandatory datapoints by more than 60% and the total number of datapoints by more than…
Luxembourg counterparties that clear euro or Polish zloty interest rate derivatives face their first round of EMIR active account reporting around the end of this month. ESMA’s supervisory guidance sets the first report under Article 7b of the European Market Infrastructure Regulation for 31 July 2026, covering the stretch from 25 June 2025, when the…
On 2 July 2026 the European Banking Authority published the EBA Pillar 3 peer review of how competent authorities supervise Pillar 3 disclosures. Six supervisors were assessed against four benchmarks, and their scores ran the full length of the scale, from fully applied to not applied. For a reporting team the spread is the story:…