Germany

On 31 October 2025, there was published in the Official Journal of the European Union (OJ) Commission Implementing Regulation (EU) 2025/2159, amending the implementing technical standards (ITS) laid down in Implementing Regulation (EU) 2021/2284 as regards supervisory reporting and disclosures of investment firms. The Implementing Regulation is based on the…

On 31 October 2025, there was published in the Official Journal of the European Union (OJ) Commission Implementing Decision (EU) 2025/2197 which provides that for the purposes of Article 30(2) of the Benchmarks Regulation (BMR), New Zealand’s legal and supervisory framework applicable to financial benchmarks whose administrator has been licensed by…

On 29 October 2025, the European Banking Authority (EBA) issued a Final Report on draft Regulatory Technical Standards (RTS) on credit valuation adjustment (CVA) risk of securities financing transactions (SFTs).

Background

The Capital Requirements Regulation (CRR) as amended by Regulation 2024/1623 (CRR3) implements in the…

On 29 October 2025, the European Commission (Commission) adopted a communication which provides guidance on how banks can benefit from more favourable prudential treatment under the Capital Requirements Regulation (CRR) when investing in equity through legislative programmes – structured public investment schemes established under EU or national law.

Subject to the…

On 28 October 2025, the Basel Committee on Banking Supervision issued a technical amendment to the Basel Framework which relates to the circumstance where a bank uses a guarantee or credit derivative to hedge the counterparty credit risk of a derivative exposure subject to the standardised approach to counterparty credit risk or the internal models…

On 29 October 2025, the European Commission (Commission) adopted a Commission Delegated Regulation amending Delegated Regulation (EU) 2022/805 as regards fees for the supervision by the European Securities and Markets Authority (ESMA) of benchmark administrators endorsing third country benchmarks.

The draft Delegated Regulation updates Delegated Regulation (EU) 2022/805 to include supervisory…

On 29 October 2025, the European Commission (Commission) adopted a Commission Delegated Regulation supplementing the European Market Infrastructure Regulation with regard to regulatory technical standards (RTS) specifying the operational conditions, the representativeness obligation and the reporting requirements related to the active account requirement.

The Commission’s adoption of the Delegated Regulation follows…

On 27 October 2025, the European Commission (Commission) adopted a Commission Delegated Regulation amending the Regulatory Technical Standards (RTS) laid down in Delegated Regulation (EU) 2018/1645 and Delegated Regulation (EU) 2018/1646.

Overview

Delegated Regulation (EU) 2018/1645 sets out information required when a benchmark administrator located in a third country submits its…

On 24 October 2025, the European Banking Authority (EBA) issued a consultation paper proposing updates to its guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing. The guidelines are addressed to Member State competent authorities.

Background

The first version of the guidelines…