On 6 November 2025, the European Banking Authority (EBA) issued a follow-up peer review report on the exclusion from the credit valuation adjustment (CVA) risk of transactions with non-financial counterparties established in a third country.
The report is a follow-up to the EBA’s 2023 peer review report on excluding transactions with
In February 2024 we published a briefing note, MiFIR and MiFID II review: ten key things that EU financial institutions should know, which summarized the key features of the draft legislation that was generally known as the ‘MiFID II / MiFIR review’ and was designed to update both the Markets in Financial Instruments Directive
On 6 November 2025, the European Commission (Commission) launched a targeted consultation on the prudential framework for market risk for banks, the Fundamental Review of the Trading Book (FRTB).
The consultation is framed by the empowerment to the Commission under Article 461a of the Capital Requirements Regulation (CRR) and
On 4 November 2025, the Financial Action Task Force (FATF) issued Asset Recovery Guidance and Best Practices.
The FATF revised its Recommendations on asset recovery and related international co-operation in October 2023 and made corresponding changes to the FATF Assessment Methodology in June 2024. These changes signal that asset recovery must become
On 5 November 2025, the European Banking Authority (EBA) published its final Guidelines on environmental scenario analysis, which complements the EBA Guidelines on the management of Environmental, Social and Governance (ESG) risks by specifying supervisory expectations regarding how institutions should conduct environmental scenario analysis.
Background
The Guidelines, like the Guidelines
On 4 November 2025, The Board of the International Organisation of Securities Commissions (IOSCO) published its final report on the Single-Name Credit Default Swaps Market (the report).
Summary
The report considers current levels of post-trade transparency in member jurisdictions, explores potential measures to encourage greater post-trade transparency, and considers the advantages and
On 4 November 2025, the European Systemic Risk Board (ESRB) published a report, setting out an analysis of the market for credit default swaps (CDS).
Overview
The report’s findings highlight the existence of several issues with the CDS market such as concentration, illiquidity and information asymmetries in the single-name CDS
On 4 November 2025, the Joint Committee of the European Supervisory Authorities published an update to its consolidated Q&As on the Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088, the SFDR) and Commission Delegated Regulation (EU) 2022/1288 (the SFDR delegated regulation), which supplements the SFDR.
Specifically, a new Q&A has been added in relation
On 3 November 2025, the European Banking Authority (EBA) issued a consultation paper containing draft guidelines on the authorisation of third country branches in accordance with Article 48c(8) of the Capital Requirements Directive IV (as amended by Directive (EU) 2024/1619).
Scope
The draft guidelines are addressed to Member State competent authorities in charge