France

On 11 February 2025, the Eurosystem updated its European framework for threat intelligence-based ethical red-teaming (TIBER-EU framework) to align with the regulatory technical standards (RTS) of the Digital Operational Resilience Act (DORA) on threat-led penetration testing (TLPT).

Background

The TIBER-EU framework sets out comprehensive guidance on how

On 12 February 2025, the European Commission published a proposal to shorten the settlement cycle for EU securities from two days to one, through a targeted amendment to the Central Securities Depositories Regulation (CSDR).

The proposed legislative amendment would shorten the settlement cycle on securities, such as shares or bonds executed on EU

On 12 February 2025, the European Banking Authority (EBA) published its final draft implementing technical standards (ITS) on the Pillar 3 data hub for large and other institutions, which will centralise prudential disclosures by institutions through a single electronic access point on the EBA website. The project is part of the

On 13 February 2025, eight Commission Delegated Regulations supplementing the Regulation on markets in cryptoassets (MiCAR) were published in the Official Journal of the EU (OJ).

The Delegated Regulations supplement MiCAR with regulatory technical standards (RTS) in relation to the following topics:

On 13 February 2025, the European Central Bank (ECB) published a speech: From concept to delivery: accounting for climate and nature in maintaining price stability and keeping banks safe and sound, which was delivered by Frank Elderson, a member of the ECB’s Executive Board and vice-chair of its Supervisory Board, at the MNI Webcast

The European Commission (Commission) has published its work programme for 2025. The work programme consists of a communication discussing the Commission’s main plans and priorities and is accompanied by an Annex listing new initiatives and their expected timings, as well as initiatives the Commission intends to withdraw.

The communication emphasises that the

On 11 February 2025, the European Systemic Risk Board (ESRB) issued a report that provides a compliance assessment of the implementation of the ESRB’s  recommendation of 2 December 2021 on reform of money market funds (MMFs). The recommendation was addressed to the European Commission (Commission) as is the report.

On 6 February 2025, the European Commission published a set of draft guidelines on the definition of ‘artificial intelligence (AI) system’ for the purposes of the EU AI Act, which began to apply on 2 February 2025.

Background

Under the EU AI Act (which aims to promote innovation while ensuring high levels of

On 11 February 2025, the Bank of International Settlements published a speech by Denis Beau, First Deputy Governor of the Bank of France, at the Cercle IA et finance.

In his speech Mr Denis discusses, from a supervisor’s perspective, the opportunities and risks of AI and then the conditions necessary for effective regulation of AI

On 10 February 2025, the European Central Bank (ECB) issued a document that reminds EU banks of some of the ECB’s main supervisory expectations on sound and effective capital and liquidity management in line with the 2018 ECB guides on the internal capital/liquidity adequacy assessment processes (ICAAP / ILAAP). The document provides certain