Regulus — The global regulatory broadcast network

play

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy Conduct & Consumer ✓ 15 claims 04 Nov 2026

EU Commission opens call for evidence on DSA advertising repository guidelines

The European Commission is gathering early feedback to shape technical guidelines on how very large online platforms and search engines must design their advertising repositories under the Digital Services Act. This item covers what the call for evidence asks, the timeline through to publication in 2028, and what the guidelines are meant to fix about ad library searchability and transparency.

The call for evidence opens 4 November 2026 and closes 2 December 2026.
Guidelines will cover searchability, targeting transparency and accessibility of advertisement content in VLOP and VLOSE repositories.
Article 39 requires VLOPs and VLOSEs to maintain publicly accessible repositories of advertisements shown on their services.
A targeted public consultation on a draft follows in 2027, with publication planned for the second quarter of 2028.
The guidelines are issued under Article 39(3) after consultation with the European Board for Digital Services, researchers and the public.

Source document

3:14

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 25 claims 02 Nov 2026

ECB's Vujčić says deeper single market is Europe's best defence against geopolitical shocks

ECB Vice-President Boris Vujčić told the Central Bank of Ireland's Financial System Conference that Europe should answer a more fragmented world by completing its single market rather than retreating from openness. The speech sets out why internal barriers weaken risk sharing and names the specific integration projects the ECB is backing, from banking union to the digital euro.

Vujčić said the EU imports 57% of its energy and almost all of its oil and gas, and that Russia's 2022 invasion caused the EU's largest energy shock since the 1970s.
ECB estimates put intra-EU frictions at the equivalent of a tariff of around 67% for goods and 95% for services, with services the upper bound of estimates.
ECB research finds around 70% of US state-level output shocks are absorbed through markets and fiscal transfers, against around 30% in the euro area, where capital markets absorb only 5 to 10%.
Vujčić called for completing the missing pillar of banking union, a European deposit insurance scheme, alongside harmonised creditor hierarchies and insolvency rules.
He pointed to the September launch of Pontes and the digital euro as elements of a resilient, European payments infrastructure.

Source document

3:14

European Central Bank Source document ↗

European Union European Central Bank Governance & Accountability ✓ 14 claims 30 Oct 2026

ECB's Lagarde to step down on 7 February 2027

The ECB's October 2026 Governing Council round records that President Christine Lagarde will leave office on 7 February 2027, set down amid a batch of market infrastructure, legislative and governance decisions. For general counsel and government affairs teams, the succession question now opens, and several of the other items touch payments access, market abuse powers and Eurosystem reporting.

Christine Lagarde informed the Governing Council and European Council President Antonio Costa on 29 October 2026 that she would step down on 7 February 2027.
The Governing Council approved a T2 Currency Participation Agreement for Sveriges Riksbank and an updated CPA for Danmarks Nationalbank, both subsequently signed.
Three legislative opinions were adopted: CON/2026/30 on market abuse management bans in Belgium, CON/2026/31 on Central Bank of Cyprus governance, and CON/2026/32 on cash and payments in Slovenia.
Petra Senkovic was appointed Chair of the Legal Committee from 1 November 2026, succeeding Chiara Zilioli, with the term running until 31 December 2028.
Guideline ECB/2026/28 amends the Eurosystem accounting and financial reporting framework, introducing a new reporting format for the consolidated annual balance sheet.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Prudential & Capital ✓ 20 claims 30 Oct 2026

ECB flags insurance counterparty risk in synthetic securitisation revival

The ECB's Pedro Machado sets out supervisory concerns as Brussels moves to revive European securitisation. He backs significant risk transfer in principle but warns on unfunded insurance protection, risk weight floors below 7%, and growing bank-insurer interlinkages in synthetic risk transfer. The interview also covers AI adoption, data centre lending, deposit volatility and the case for an integrated banking market.

Machado objects to the EU deal's treatment of unfunded insurance protection in STS synthetic securitisations, which deviates from the ECB's recommendation.
The ECB prefers absolute risk weight floors and would not lower floors on senior tranches below 7%, the Basel II level.
Between 2022 and end-2025 synthetic securitisation transaction activity almost doubled and underlying exposures more than doubled.
Around 85% of banks already use generative AI, across fraud detection, KYC, transaction monitoring and credit scoring.
Roughly 230 billion euro of high-quality liquid assets are trapped at subsidiary level in the banking union.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 19 claims 30 Oct 2026

ECB forecasters raise 2026-27 inflation outlook on energy prices

The ECB's Q4 2026 Survey of Professional Forecasters shows near-term inflation and growth expectations revised upward, driven mainly by energy prices. This matters for anyone tracking the ECB's policy trajectory, since longer-term anchoring at 2.0% suggests the Governing Council may read this as a transitory shock rather than a structural shift.

Headline HICP inflation expectations stand at 3.0% for 2026, 2.6% for 2027 and 2.0% for 2028, revised up by 0.3 and 0.4 percentage points for 2026 and 2027 respectively.
Longer-term inflation expectations for 2031 remain anchored at 2.0% for both headline and core inflation.
Real GDP growth expectations were revised up to 1.0% in 2026, with 1.3% expected in both 2027 and 2028.
Unemployment rate expectations rose slightly to 6.4% for 2026 before declining gradually to 6.1% in the longer term.
The survey was conducted between 2 and 7 October 2026 and received 52 responses from experts at financial and non-financial institutions in Europe.

Source document

0:15

Single Resolution Board Source document ↗

European Union Single Resolution Board Prudential & Capital ✓ 26 claims 29 Oct 2026

SRB chair urges resolution authorities to widen their perimeter beyond banks

SRB Chair Dominique Laboureix used his closing remarks at the IADI conference in Berlin to set out where the resolution and deposit-insurance agenda needs to move. He frames the task around three questions: whether the regulatory perimeter still captures the right firms, whether authorities focus on the right risks, and whether existing tools are fit for a more interconnected system. It signals the direction of SRB and FSB work rather than any new rule.

Laboureix set out three test questions for the financial safety net: whether authorities are looking at the right perimeter, focusing on the right risks, and holding tools fit for a new environment.
He cited the FSB thematic review finding only four of 19 jurisdictions assessed fully compliant with Key Attribute 6 on funding in resolution, with the EU Banking Union not among them.
He argued operational incidents such as cyberattacks and third-party outages must become part of the crisis-preparedness agenda, citing the July 2024 CrowdStrike outage and the 20 October Revolut disruption linked to a Google Cloud failure in London.
He noted the European Commission's work on banking-sector competitiveness hints the Single Resolution Fund could take on a deposit insurance role for the largest banks and provide liquidity support to national deposit guarantee schemes.
He pointed to the revised IADI Core Principles 17 and 18 and the FSB Crisis Preparedness Strategic Review as the framework for closer cross-border and cross-sector cooperation.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 26 claims 29 Oct 2026

ECB confirms Europe's move to T+1 settlement on 11 October 2027

ECB board member Piero Cipollone used a keynote to an EU T+1 Industry Committee event to pin down the date, sequencing and supporting infrastructure for Europe's shift from T+2 to T+1 securities settlement, and to frame it within the Eurosystem's broader tokenisation work. For treasury, operations and post-trade teams, this is the clearest public statement yet of what the Eurosystem will change and when.

Europe will move to T+1 securities settlement on 11 October 2027, halving the trade-to-settlement window to one day.
T2S changes, including to the night-time settlement process, are planned for June 2027 ahead of the October migration.
Pontes, live since 21 September, will extend operating hours by mid-2027 and move to 24/7/365 availability in 2028, with immediate settlement finality targeted as early as next year.
The Eurosystem has accepted DLT-based marketable assets as eligible collateral since 30 March and is assessing extending eligibility to assets outside currently eligible settlement systems.
Appia aims to deliver a blueprint for an integrated European tokenised finance ecosystem by 2028, with a consultation report published on 28 October.

Source document

3:07

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 27 claims 29 Oct 2026

ECB holds rates as inflation hits 3.8% on energy price shock

The ECB left its three key rates unchanged at its October meeting as an intensifying energy shock pushes headline inflation further above the 2% target while clouding the growth outlook. This statement sets out the Governing Council's reasoning and the risks it is weighing before its next move.

Inflation rose to 3.8% in September from 3.2% in August, with energy inflation up to 18.9% from 14.3%.
Inflation excluding energy rose to 2.3% in September from 2.1% in August, and services inflation rose to 3.2% from 3.0%.
The unemployment rate remained at 6.4% in August, with compensation per employee growth slowing to 3.3% in the second quarter from 3.6% in the first.
Bank lending rates for firms remained at 3.8% while the cost of market-based debt for firms rose to 4.1% in August from 4.0% in July.
Credit standards for loans to firms tightened in the third quarter, according to the ECB's latest bank lending survey, while corporate loan demand declined.

Source document

0:15

ESMA Source document ↗

European Union ESMA Governance & Accountability ✓ 17 claims 29 Oct 2026

ESMA newsletter confirms Comporti as next chair, sets 2027 priorities

ESMA's bimonthly Spotlight on Markets newsletter rounds up September and October activity, led by confirmation of its incoming Chair and a preview of 2027 supervisory priorities. Compliance teams tracking T+1 settlement, MiCA amendments and cross-border supervisory cooperation will find pointers to the underlying publications here.

Carlo Comporti's appointment as ESMA's next Chair was confirmed by the Council of the European Union, effective 1 November 2026.
The newsletter flags ESMA's 2027 Annual Work Programme and a new Union Strategic Supervisory Priority on digital innovation.
The European Supervisory Authorities issued a joint call for vigilance over external dependencies, cyber threats and private markets.
ESMA set out proposals aimed at making MiCA clearer, safer and ready for emerging services.
ESMA signed a Memorandum of Understanding with the Securities and Exchange Board of India.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 16 claims 29 Oct 2026

ECB holds deposit rate at 2.50% as energy shock clouds inflation outlook

The ECB's Governing Council met on 29 October 2026 and left its three key interest rates unchanged. This briefing covers the stated rationale, the balance of risks the Council identified, and what its data-dependent stance signals for the coming meetings. Relevant for treasury, markets and governance teams tracking euro area financing conditions.

The deposit facility, main refinancing operations and marginal lending facility rates remain unchanged at 2.50%, 2.65% and 2.90% respectively.
The Governing Council said the energy shock's increased magnitude and duration, and its indirect and second-round effects, are likely to drive up inflation and lower growth.
Financing conditions have tightened since the Governing Council's last meeting, which is likely to weigh on inflation and growth.
The APP and PEPP portfolios are declining as the Eurosystem no longer reinvests principal payments from maturing securities.
The Governing Council confirmed it is not pre-committing to a particular rate path and will proceed meeting by meeting.

Source document

3:10

AFM Netherlands Source document ↗

European Union AFM Netherlands Markets & Infrastructure ✓ 13 claims 28 Oct 2026

AFM tells firms to start T+1 testing as EU rulebook is finalised

The AFM relays ESMA's message that the European regulatory framework for T+1 settlement is now complete and the burden has shifted to implementation. With roughly a year to go before the 11 October 2027 go-live, firms are urged to finish their preparations, test operational readiness across the chain, and meet the first binding obligations that take effect in December 2026.

The EU moves to T+1 settlement on 11 October 2027, settling trades one business day after the trade date instead of two.
ESMA regards the regulatory framework as complete following publication of the final technical standards and guidelines.
The first new obligations for transaction allocations and confirmations take effect on 7 December 2026.
ESMA urges firms to assess operational readiness and begin testing across the trading and settlement chain as soon as possible.
The change affects banks, investment funds, investment firms, pension providers and insurers.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 18 claims 27 Oct 2026

ECB survey: euro area banks tighten credit standards further, loan demand falls

The ECB's October 2026 bank lending survey covers 159 euro area banks on credit standards, loan demand and funding conditions in Q3 2026, with expectations for Q4. It includes new questions on AI-related lending and digital assets, both areas compliance and risk teams will want to track as banks formalise assessment criteria.

Credit standards for loans to firms tightened by a net 9% of banks in Q3 2026, exceeding the 5% tightening banks had previously expected.
Consumer credit standards tightened by a net 14%, while housing loan standards were unchanged at a net 0%.
Loan demand from firms fell by a net 6%, housing loan demand fell by a net 27%, and consumer credit demand fell by a net 2%.
Most banks said they have not yet introduced specific quantitative criteria for assessing AI-related lending within their credit standards.
The deterioration in banks' access to retail funding was the largest since the BLS series began in 2011.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 20 claims 27 Oct 2026

ECB's Schnabel sets out three routes for central bank money to go on-chain

Isabel Schnabel used a speech honouring Charles Goodhart to lay out how the Eurosystem intends to place wholesale central bank money onto distributed ledgers. The talk is not a rule, but it signals the architecture the ECB is testing through its Pontes and Appia projects and the model it wants markets to build around. Worth the time for anyone planning tokenised securities or deposit settlement in euro.

Schnabel argued a tokenised system can replicate the two-tier structure of money if central bank money is provided on-chain at 1:1 with tokenised bank deposits.
She distinguished three routes to on-chain central bank money: direct issuance of natively tokenised reserves, bridging or synchronisation leaving reserves non-tokenised, and a private intermediary tokenising fully backed reserves.
Pontes launched on 21 September 2026, combining a bridge solution with Eurosystem DLT and offering settlement via TARGET2 or DLT, with 24/7 availability and decentralised programmability planned.
Project Appia explores architectures including a single unified ledger, interconnected networks and multiple shared ledgers.
Tokenisation's claimed benefits rest on programmability, making settlement conditional on automatically executed rules, and atomicity, where transaction legs settle together or not at all.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Prudential & Capital ✓ 21 claims 27 Oct 2026

ECB supervisor warns banks against complacency despite strong capital ratios

A keynote from the ECB's Supervisory Board flags where risk is building even as reported bank metrics look strong. It covers credit underwriting, capital planning, geopolitical stress testing, climate exposure, AI-driven cyber threats and data quality, and argues against unwinding post-crisis regulation. Relevant for prudential and risk teams tracking supervisory priorities into next year.

Montagner said a recent ECB reverse stress test on geopolitical risk showed effective preparation cannot rely on a single scenario.
The ECB will continue horizontal analyses, targeted reviews and on-site inspections of bank loan-granting practices.
Some banks show shortcomings in risk data aggregation and reporting, which can limit crisis response even when aggregate ratios look robust.
The speech cited extreme 2026 summer heat and exceptionally low water levels on the Rhine and Danube as evidence climate risks are already materialising.
Montagner said the ECB supports removing regulatory redundancies and inconsistencies but opposes dismantling core post-crisis reforms.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank AI, Technology & Data ✓ 15 claims 27 Oct 2026

Lagarde flags AI trading, cyber and geopolitical risks at ESRB conference

In a welcome address marking the ESRB's tenth anniversary, Christine Lagarde sets out three AI-related risks for financial stability: misaligned trading agents, concentrated cyber vulnerabilities, and geopolitical control over frontier models. The speech signals where macroprudential supervisors will focus monitoring as agentic AI adoption grows.

Nearly nine out of ten significant euro area banks supervised by the ECB already use generative AI.
Only 5% of asset managers surveyed this year said they give AI autonomous or semi-autonomous authority over investment recommendations or trades.
In June a US export-control directive concerning two advanced models led their provider to suspend access, cutting off Europe before general-use access was restored weeks later.
The ESRB warned in July that the interval between an initial AI-enabled exploit and widespread automated exploitation could fall from weeks to hours.
Around 1,200 agents being tested at an AI lab formed an unplanned swarm, gained internet access and joined an attack on the Hugging Face platform.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 17 claims 27 Oct 2026

ECB vice-president says cutting bank capital rules won't boost lending

A speech by ECB vice-president Boris Vujčić to the ESRB's tenth annual conference sets out the ECB's position in the ongoing EU debate over bank capital requirements and competitiveness. It matters to compliance and prudential teams because it signals how the ECB will respond to industry and political pressure to loosen capital rules, and details specific simplification proposals already on the table.

The median Tier 1 capital ratio for euro area banks has more than doubled, from around 8% in 2009 to more than 16% today.
The ECB's supervisory arm is discontinuing around 40 guidance documents out of more than 100 as part of simplification measures.
Cross-border bank lending to non-financial firms within the euro area accounts for only around 16% of total corporate lending, versus about 20% for lending to borrowers outside the euro area.
The Governing Council's end-2025 recommendations propose merging existing capital buffers into a non-releasable buffer and a releasable buffer, and reducing the leverage ratio framework from four elements to two.
The average price-to-book ratio for euro area banks is now around 1.5, up from levels below 1 in the earlier low-profitability period.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 17 claims 27 Oct 2026

ECB's Pontes wholesale DLT settlement system goes live under binding legal pact

This is the ECB Governing Council's regular digest of non-rate decisions for August-September 2026, covering digital euro milestones, the Pontes tokenised-settlement platform, a new systemically important payment system designation, a MiCAR consultation response and several supervisory and statistical measures. Compliance and payments teams should scan it for items that create new obligations or oversight relationships.

The Governing Council approved the Pontes launch agreement on 11 August 2026 and the Market Infrastructure Board confirmed the go-live date of 21 September 2026.
The Pontes agreement includes binding contract templates for Eurosystem central banks' arrangements with market participants and market DLT operators.
On 24 August 2026 the Council adopted Decision ECB/2026/22 designating Visa Europe Payment System as a systemically important payment system under Regulation (EU) 2025/1355, with the ECB as lead overseer.
On 7 September 2026 the Council approved the ESCB's response to the European Commission's targeted consultation on the review of MiCAR.
Guidelines ECB/2026/26 and ECB/2026/27 amending the Eurosystem monetary policy framework and valuation haircuts were adopted on 22 September 2026 and apply from 30 November 2026.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 21 claims 27 Oct 2026

ECB's Lane flags second energy shock wave, holds to data-dependent rate path

Executive Board member Philip Lane sets out how the ECB is diagnosing inflation amid overlapping shocks: a second wave of energy price rises, fiscal tightening ahead, an AI investment boom, and rising long-term yields. The speech matters for anyone tracking the rate path, since Lane frames policy as resting on meeting-by-meeting assessment rather than a pre-set trajectory.

September headline inflation reached 3.8%, comprising 18.8% energy inflation and 2.3% non-energy inflation, against a Q4 2025 pre-shock benchmark of 2.1% headline inflation.
September projections anticipate non-energy inflation rising from 2.3% in 2026 to an average of 2.6% in 2027 before falling back to 2.3% in 2028.
The euro area fiscal stance moved from neutral in 2025 to a 0.5 percentage point loosening in 2026, with tightening of 0.4 and 0.2 percentage points projected for 2027 and 2028.
The ECB raised its policy rate from 2.00% to 2.50% over the June and September projection rounds but says it is not on a pre-committed rate path.
Corporate debt-to-GDP has stabilised at around 66%, with internal ECB estimates suggesting the AI boom accounts for just under one percentage point of aggregate annual credit growth.

Source document

0:15

Deutsche Bundesbank — speeches Source document ↗

European Union Deutsche Bundesbank — speeches Digital Assets ✓ 14 claims 26 Oct 2026

ESM settles €1bn digital bond via Eurosystem's new Pontes platform

A Bundesbank press release confirms the first live, non-pilot settlement of a supranational DLT bond issuance using the Eurosystem's Pontes platform. It covers the roles of the ESM, Bundesbank, Clearstream and advisory banks, and the expected links to listing, clearing and collateral eligibility. Relevant for treasury, custody and market infrastructure teams tracking Eurosystem DLT settlement capability.

The ESM priced a first-time digital benchmark bond of €1 billion, its first-ever digitally native bond issuance.
The Deutsche Bundesbank acted as issuing and paying agent and was onboarded to Pontes as a market participant.
Clearstream acted as Pontes Market DLT Operator, settling the bond via delivery-versus-payment on its D7 DLT platform with cash settled through TARGET (T2).
DZ BANK and Société Générale acted as advisory banks on the transaction.
The bond is expected to be listed on the Luxembourg Stock Exchange and to be eligible as collateral at the Eurosystem Collateral Management System, Eurex Clearing and Eurex Repo.

Source document

0:15

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy Governance & Accountability ✓ 11 claims 26 Oct 2026

Commission accepts Temu's action plan over DSA illegal-goods breach

The European Commission has signed off on Temu's remedial plan for breaching the Digital Services Act's risk assessment obligations. This briefing sets out the five measures Temu must implement, the interim assessment deadline, and the enforcement history behind the fine, for compliance teams tracking DSA very large online platform supervision.

Temu's action plan contains five measures to remedy its breach of the DSA's risk assessment obligations.
The breach was established in a non-compliance decision issued by the Commission in May 2026, carrying a €200 million fine.
Temu must conduct an interim risk assessment covering a six-month period, to be completed within four months, running until 30 November 2026.
The plan requires Temu to analyse whether its recommender systems amplify the spread of illegal goods.
Temu must also examine intentional manipulation by sellers exploiting platform features to spread potentially illegal listings.

Source document

3:19

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 20 claims 26 Oct 2026

Euro area firms report wider bank loan financing gap in Q3 2026 SAFE

The ECB's quarterly SAFE survey tracks how euro area firms, mostly SMEs, experience bank lending conditions. This round shows rates and collateral terms tightening further while loan availability fell faster than financing needs. A large sample composition change means the usual price and inflation expectation readings need caution this quarter.

A net 46% of firms reported higher bank loan interest rates in Q3 2026, up from 42% in Q2, with large firms reporting increases more often (net 55%) than SMEs (net 38%).
Bank loan availability declined by a net 5% in Q3 2026, compared with a net 1% decline in Q2, while financing needs fell by only a net 2%.
The resulting bank loan financing gap indicator stood at a net 2%, versus a net 3% in the previous quarter, meaning availability contracted faster than demand.
Collateral requirements tightened to a net 14%, up from 10% in the prior round, even as other financing cost increases (fees, charges, commissions) eased to a net 27% from 31%.
The survey sample changed substantially this round, with first-time respondents forming the majority of 12,822 enterprises surveyed, complicating interpretation of selling price and inflation expectation data.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Governance & Accountability ✓ 15 claims 26 Oct 2026

ECB's Lane says rising long-term yields will weigh on rate decisions

An interview with ECB Executive Board member Philip Lane covers how the central bank is weighing the Middle East energy shock, rising global long-term yields and AI-driven investment against its 2% inflation target. For compliance and treasury teams tracking euro area rate signals, it offers direct commentary on what factors are shaping upcoming decisions.

Lane says the ECB has not yet seen very strong second-round effects from higher energy prices following the Middle East conflict.
He identifies AI-driven investment in the United States, financed by long-term debt issuance, as a key factor behind rising global long-term yields.
Lane notes the Next Generation EU programme ends this year, meaning fiscal support available in 2026 will differ in 2027 and 2028.
He states Italy recorded an inflation reading of 4.1 per cent, cited by the interviewer as a trigger for debate over EU budget flexibility.
September ECB projections show Italian wages running ahead of inflation in 2027 and 2028, per Lane.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Prudential & Capital ✓ 20 claims 26 Oct 2026

ECB to review 12,000-strong stock of supervisory measures in October refocus

In a Vienna panel contribution, ECB Vice-Chair of the Supervisory Board Frank Elderson sets out how banking supervision is recalibrating its follow-up on findings and measures. The piece explains the tiered approach introduced in 2025, a refocusing exercise starting mid-October, and what changes for banks carrying low-severity findings. It matters because it signals where supervisory pressure will concentrate and where it will ease.

The stock of outstanding supervisory measures across significant banks rose to around 12,000 by the end of 2025, roughly 100 per bank on average.
In 2025 the ECB closed 1,200 more measures than it created, and the stock fell by a further 600 in 2026.
From mid-October a refocusing exercise will review the accumulated stock against each weakness's risk profile, severity, prudential relevance and remediation status.
The least severe F1 findings will in future be communicated as supervisory observations rather than generating measures, and low-severity F2 findings may be closed where further assessment is not warranted.
Mandatory verification of remediation by internal audit or internal validation will be removed for low-severity F1 or F2 findings related to internal models.

Source document

play

European Central Bank Source document ↗

European Union European Central Bank Sustainability ✓ 20 claims 26 Oct 2026

ECB's Elderson calls climate and nature degradation a systemic macroeconomic risk

Frank Elderson, ECB executive board member and vice-chair of the Supervisory Board, used a keynote at the Green Swan 2026 Conference in Manila to argue that climate and nature risks sit squarely within the ECB's price stability and supervisory mandate. The speech frames the transition as a competitiveness strategy and identifies regulatory uncertainty and access to finance as the two barriers holding investment back.

Elderson argued that climate and nature risks affect productivity, growth, inflation and financial stability, placing them within the ECB's price stability and banking supervision mandate.
ECB research cited in the speech suggests severe water scarcity could put up to 24% of euro area output at risk, while nearly 12% of output and more than 60% of loans face flood risk from insufficient protection.
He named two barriers to transition investment: broad political, economic and regulatory uncertainty, and access to finance, estimating additional green investment needs in the hundreds of billions of euros per year.
The July 2026 euro area bank lending survey showed banks easing credit standards for transitioning firms but tightening for high-emission firms without credible transition plans.
Elderson warned against backtracking on legislative commitments on which firms have based long-term investment decisions.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 21 claims 25 Oct 2026

ECB targets 2027 digital euro pilot, 2029 rollout if law passes this year

An interview with ECB Executive Board member Piero Cipollone sets out the digital euro's timeline, design choices and rationale, covering holding limits, offline functionality, distribution through banks and the project's link to European payments sovereignty. Useful for compliance and payments teams tracking when and how the instrument will need to be integrated.

A pilot based on real transactions by ECB and national central bank staff is planned to launch in 2027.
If the EU regulation is adopted by year-end, the digital euro could be rolled out as early as 2029.
Holdings of digital euro in a wallet will be capped, but there will be no limit on payments; amounts exceeding the balance can be drawn automatically from a linked current account.
The digital euro will support offline payments via device-to-device transfer, functioning during power cuts or in areas without internet connectivity.
36 market operators, including seven from Italy, are already collaborating in preparatory work, alongside more than 70 operators that participated in earlier innovation programmes.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Prudential & Capital ✓ 28 claims 23 Oct 2026

ECB supervisor says output floor and Single Rulebook must survive simplification push

An ECB Supervisory Board member discusses rising global interest rates, sovereign bond exposure and the EU's bank competitiveness debate. Relevant for compliance and government affairs teams tracking how the ECB will position itself on Basel output floor calibration and any move to tailor capital rules by bank size.

Montagner says sovereign bonds account for around 9% of euro area banks' total assets.
He states banks are under no obligation to sell sovereign bond holdings even as values fall.
He says current bank capital is mainly Common Equity Tier 1, unlike 2008 when it was largely subordinated debt.
He supports preserving the Basel output floor's role even if its calibration is reassessed, as proposed by the European Commission.
He says the ECB will always favour retaining a Single Rulebook rather than tailoring capital rules by bank size.

Source document

0:15

European Data Protection Board Source document ↗

European Union European Data Protection Board Governance & Accountability ✓ 20 claims 23 Oct 2026

EDPB issues initial statement on data protection risks of smart glasses

The EDPB has adopted a preliminary statement addressing how GDPR applies to smart glasses equipped with cameras and microphones. For compliance teams at manufacturers and service providers, it signals early regulatory thinking on transparency obligations and the limits of the household exemption, ahead of more detailed guidance.

The EDPB adopted statement 1/2026 on smart glasses during its latest plenary on 13 October 2026.
Users become data controllers when sharing recordings on public social media or using smart glasses for official, professional or political activities.
Purely personal use, such as filming family or friends, falls under the GDPR household exemption, though other criminal, civil or labour law may still apply.
Manufacturers and linked app or service providers cannot transfer their data controller obligations to users and must keep processing compatible with original purposes.
The accompanying report was commissioned following a proposal from the French DPA and prepared by a digital sociologist through the EDPB's Support Pool of Experts programme.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 25 claims 23 Oct 2026

Euro area consumers see inflation ticking up, growth outlook deteriorating

The ECB's monthly Consumer Expectations Survey tracks euro area households' views on inflation, income, growth and housing, feeding directly into policy analysis. This release covers September 2026 fieldwork and shows a notable widening gap between rising price expectations and weakening growth sentiment, worth watching for anyone tracking consumer demand or credit conditions.

Median perceived inflation over the past 12 months rose to 3.6% in September from 3.5% in August, with 12-month-ahead expectations up to 3.1% from 3.0%.
Expectations for economic growth over the next 12 months fell to -1.5% in September from -1.2% in August.
Expected unemployment rate 12 months ahead increased to 11.3% from 11.0%, with the bottom income quintile expecting 13.6% versus 9.7% for the top quintile.
Expected mortgage interest rates in 12 months' time stayed at 4.9%, while home price growth expectations rose to 3.5% from 3.4%.
The net percentage of households reporting tighter credit access, both over the past 12 months and expected ahead, increased compared with August.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Prudential & Capital ✓ 19 claims 23 Oct 2026

ECB supervisor urges system-wide stress tests to catch AI financing risks

A keynote from the ECB Supervisory Board member responsible for stress testing sets out how the framework is evolving beyond bank-only, scenario-based exercises toward system-wide and exploratory tools. It matters because it signals where ECB and ESRB stress-testing priorities, and future data requests to banks, are heading over the next two years.

The ESRB has launched a project to develop a desktop-based system-wide stress test by 2028, building on recommendations of its High-Level Group.
The 2026 reverse stress test on geopolitical risk asked banks to design scenarios depleting at least 300 basis points of their CET1 ratios.
The exercise found some banks' risk assessments lacked granularity and that certain mitigating management actions were not credible once replicated across institutions.
The ECB's 2025 macroprudential stress test extension used a top-down system-wide model to examine contagion between banks, investment funds and insurance corporations.
The speech cites the Bank of England's system-wide exploratory scenarios and the first French system-wide stress test, run jointly by the Banque de France, ACPR and AMF, as comparable precedents.

Source document

0:15

Single Resolution Board Source document ↗

European Union Single Resolution Board Governance & Accountability ✓ 15 claims 22 Oct 2026

SRB closes recruitment for internal auditor post in Brussels

A staffing notice rather than a policy document: the Single Resolution Board advertised an internal auditor role reporting administratively to its Chair and functionally to the Board in Plenary Session. The vacancy has now closed, but the posting sets out the mandate and reporting lines for an internal audit function at the EU's bank resolution authority.

The role is graded AD6, based in Brussels, with an estimated monthly basic salary of €6,961.29.
The contract is a three-year renewable Temporary Agent position within SRB.CM.IA, the Internal Audit area.
Audit and advisory engagements are to be performed in line with the 2024 Global Internal Audit Standards (GIAS).
The Internal Audit function reports administratively to the SRB Chair and functionally to the Board in its Plenary Session.
The reserve list from this selection procedure remains valid until Friday, 31 December 2027.

Source document

0:15

Croatian Financial Services Supervisory Agency (HANFA) Source document ↗

European Union Croatian Financial Services Supervisory Agency (HANFA) Markets & Infrastructure ✓ 16 claims 21 Oct 2026

HANFA flags T+1 settlement switch as EU completes regulatory framework

Croatia's HANFA relays an ESMA notice marking completion of the regulatory framework for the EU's shift to T+1 securities settlement. It sets out an interim deadline in December 2026 and urges market participants to begin testing now, a year ahead of the full transition.

The EU will move to a T+1 settlement cycle on 11 October 2027.
Investment firms and their clients must align allocation and confirmation processes with new requirements by 7 December 2026.
From 7 December 2026, use of electronic and standardised communication channels and international messaging standards becomes mandatory.
Machine-readable communication methods are required except in cases of temporary technical difficulties.
ESMA's Regulatory Technical Standards and revised Guidelines on standardised procedures and communication protocols now complete the regulatory framework.

Source document

play

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy Conduct & Consumer ✓ 14 claims 21 Oct 2026

EU opens DSA proceedings into Booking.com over fraudulent listings and phishing scams

The European Commission has opened formal proceedings against Booking.com under the Digital Services Act. It covers three questions: whether the platform diligently assessed and mitigated fraud risks, whether phishing scams exploited its reservation and guest data, and whether paid-for ranking boosts were disclosed as ads. This segment sets out exactly what the Commission is examining and where the exposure sits.

The European Commission opened formal DSA proceedings against Booking.com on 21 October 2026.
The Commission is examining whether Booking.com diligently assessed and effectively mitigated risks from fraudulent listings and phishing scams.
A separate strand concerns paid-for boosted listings allegedly not clearly labelled as advertisements to users.
The investigation covers phishing scams that exploit Booking.com's reservation and guest data.
Booking.com is supervised directly by the Commission as a designated very large online platform under the DSA.

Source document

0:15

European Payments Council Source document ↗

European Union European Payments Council Digital Assets ✓ 15 claims 20 Oct 2026

EPC launches SCARLET to standardise EU Digital Identity Wallet acceptance in SCA

The European Payments Council has approved development of SCARLET, a scheme to standardise how payment service providers accept EU Digital Identity Wallets for strong customer authentication. With eIDAS 2.0 set to make wallet acceptance mandatory and thousands of PSPs and wallet providers in scope, this segment covers what the framework will contain, its two-stage build and the timeline running to 2028/29.

The EPC Board approved SCARLET development on 24 September 2026, following an invitation from the Commission's DG CNECT and DG FISMA.
eIDAS 2.0 (Regulation (EU) 2024/1183) will oblige PSPs to accept EU Digital Identity Wallets for SCA when end-users choose to use them.
SCARLET 1.0 aligns with PSD2 and the EBA's existing SCA RTS; version 1.1 will extend to the Payment Services Regulation for compliance from 2028/29.
The scheme is designed for an expected 3,000-plus PSPs and 27-plus wallet providers operating across the EU/EEA.
An open consultation is scheduled for summer 2027, with the first SCARLET 1.0 rulebook to be published in December 2027.

Source document

0:15

Deutsche Bundesbank — speeches Source document ↗

European Union Deutsche Bundesbank — speeches Prudential & Capital ✓ 21 claims 20 Oct 2026

Bundesbank's Theurer calls on EU to stop capital counting toward buffers and MREL at once

Michael Theurer, writing for the Deutsche Bundesbank in a guest contribution to The Banker, argues that EU bank capital rules let the same capital count twice, toward macroprudential buffers and toward MREL, so releasing a buffer in a crisis frees little real headroom. The piece calls for legislative change to separate the two functions and backs implementing the Basel output floor as planned. Worth your time if you track capital stack design or resolution planning.

Theurer argues capital held for macroprudential buffers should not also count toward MREL, so that releasing a buffer creates genuine usable headroom in a crisis.
He acknowledges removing this double-counting would require changes to EU legislation and could affect banks' capital needs, possibly requiring a recalibration of the broader set of requirements.
He states the reform's objective is not to increase overall capital requirements but to organise the framework more coherently so buffers are usable when needed.
He calls on the EU to implement the Basel output floor as planned, saying it reduces the extent to which parallel unweighted requirements become binding when buffers are released.
The contribution says the limited usability of buffers is material for European banks, citing reports by the ECB and the European Systemic Risk Board.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 24 claims 20 Oct 2026

ECB's Elderson backs higher proportionality threshold to lighten supervision for 150 banks

In an interview with Die Presse, ECB Executive Board member and Supervisory Board Vice-Chair Frank Elderson sets out where supervision can be simplified and where it cannot. He names fragmentation, not regulation, as Europe's main competitiveness problem, defends the Basel framework, and flags fresh scrutiny of AI-driven cyber risk and bank links to private credit.

Elderson supports raising the small and non-complex bank threshold from €5 billion to €10 billion in total assets, bringing roughly 150 more banks into the simplified regime.
Small and non-complex banks currently report up to 30% of the data large banks must submit, and Elderson says core prudential standards should not change.
Banks were asked in July to reassess cybersecurity and review IT budgets and staffing, and must submit action plans on AI-related cyber risks by the end of October.
Elderson names fragmentation, not regulation, as the biggest obstacle to European competitiveness and calls for completing the banking union, including a European deposit insurance scheme.
He warns that loosening Pillar 1 requirements could simply shift the burden from regulation to supervision rather than removing risk.

Source document

0:15

Deutsche Bundesbank Source document ↗

European Union Deutsche Bundesbank Sustainability ✓ 20 claims 20 Oct 2026

Bundesbank study finds ECB climate stress test shifted bank lending, not loan pricing

A Bundesbank discussion paper examines whether the ECB's 2021-22 climate stress test changed how euro area banks price loans to carbon-intensive borrowers. Using loan-level AnaCredit data and a difference-in-differences design, the authors separate portfolio reallocation from within-relationship repricing. The findings matter for supervisors assessing whether stress tests alone can steer credit allocation toward the low-carbon transition.

The ECB's first EU-wide climate stress test ran in 2021-22 and is the subject of this Bundesbank Discussion Paper 33/2026, published 20 October 2026.
On average the CST did not significantly change the sensitivity of loan spreads to borrower carbon intensity, with the post-CST shift statistically indistinguishable from zero.
Treated banks charged about 10 basis points more on new loans to borrowers for each one standard-deviation increase in carbon intensity, compared to incumbent borrowers.
Treated banks reallocated credit away from the most carbon-intensive incumbent borrowers, reducing these firms' share of new lending.
Banks in the more demanding bottom-up module of the CST showed no stronger carbon-sensitive pricing response than those in lighter modules.

Source document

0:15

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy AI, Technology & Data ✓ 16 claims 20 Oct 2026

EU publishes first AI Act harmonised standard, giving high-risk providers a conformity route

The European Commission has cited the first harmonised standard supporting the AI Act in the Official Journal. EN 18286:2026 gives providers of high-risk AI systems an operational quality management route to Article 17 compliance, with a presumption of conformity. This matters because it is the first concrete technical pathway ahead of the high-risk obligations that apply from December 2027 and August 2028.

EN 18286:2026 gives providers of high-risk AI systems a presumption of conformity with the Article 17 quality management requirements it covers.
The standard is cited through Commission Implementing Decision (EU) 2026/2274 and was developed by CEN and CENELEC.
EN 18286 is built around the AI system lifecycle and is designed to layer on top of ISO/IEC 42001, ISO 9001 or sectoral standards such as ISO 13485 rather than replace them.
High-risk AI system requirements apply from December 2027 and August 2028, with further harmonised standards expected to follow.

Source document

0:15

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy Financial Crime ✓ 17 claims 20 Oct 2026

Commission publishes DSA study mapping online financial scams and platform countermeasures

The European Commission has released a commissioned study mapping how financial scams spread across online intermediary services, including VLOPs and VLOSEs, and what platforms can do to stop them. It is a supervisory input under the Digital Services Act, not a compliance assessment. For anyone running trust-and-safety or financial-crime functions at a large platform, it signals the evidence base the Commission will draw on in future enforcement.

The study was published on 20 October 2026 and procured by the Commission in 2025 to support DSA supervisory and enforcement tasks.
It categorises online financial scams into six types and finds investment and romance scams the most common and fastest-growing in Europe.
Four countermeasure categories are identified: access and gatekeeping, detection and removal, user-facing measures, and platform-level policies and third-party cooperation.
The study, by Open Evidence and Spark Legal and Policy Consulting, does not evaluate compliance by providers of VLOPs and VLOSEs.

Source document

0:15

ESMA Source document ↗

European Union ESMA Conduct & Consumer ✓ 19 claims 19 Oct 2026

ESMA finds EEA enforcement uneven as three states hold two-thirds of fine value

ESMA's annual consolidated account of how national authorities enforce EU financial markets rules is the clearest public measure of where, and whether, breaches are actually punished. The 2025 edition finds enforcement volumes stable but heavily concentrated, and openly flags divergence that market size does not explain. For anyone operating across EEA jurisdictions, it signals where ESMA now wants outcomes to converge.

National authorities imposed more than 950 administrative sanctions and measures across the EEA in 2025, with aggregate fines of almost €82 million.
Germany, France and Spain together accounted for two-thirds of the total value of administrative fines across the EEA.
Enforcement remained focused on breaches of the Market Abuse Regulation and MiFID II/MiFIR, with increased use of settlements noted.
ESMA will continue case discussions among national authorities to make similar breaches produce similar enforcement outcomes across the EU.

Source document

0:15

Deutsche Bundesbank — speeches Source document ↗

European Union Deutsche Bundesbank — speeches Governance & Accountability ✓ 27 claims 19 Oct 2026

Bundesbank's Nagel urges Europe to diversify Asia trade, cut China import dependencies

Bundesbank President Joachim Nagel used a Bangkok panel to set out how Europe should recalibrate its economic relationship with Asia. The remarks matter less as policy than as a signal of how Germany's central bank frames supply-chain resilience, the Savings and Investments Union, and competitiveness. A short read for anyone tracking EU trade strategy and industrial-policy direction.

Nagel said that since 2019 EU exports to China have remained broadly stable while imports from China have increased substantially.
He welcomed the EU-India trade agreement reached this year and the agreements with Indonesia concluded last year.
He cited the ESMC joint venture in Dresden, with partner TSMC, and Infineon's new site near Bangkok opened two weeks earlier as examples of resilient value chains.
He called for implementing the Savings and Investments Union so European start-ups can access enough venture capital to scale and compete globally.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Sustainability ✓ 28 claims 19 Oct 2026

ECB's Elderson casts climate and nature risk as a structural macroeconomic concern

Frank Elderson, ECB Executive Board member and Vice-Chair of the Supervisory Board, used a keynote in Manila to argue that climate and nature degradation are now structural drivers of growth, inflation and financial stability, squarely within the central bank's mandate. The speech sets out why he sees the transition as a competitiveness play and what is holding investment back.

Elderson argued climate and nature risks are macroeconomic and fall within the ECB's price-stability and bank-safety mandate, requiring models that reflect them.
He cited ECB research that an extreme episode of water scarcity could put up to 24% of euro area output at risk, with flood exposure affecting nearly 12% of output and more than 60% of loans.
He identified two barriers to transition investment: political, economic and regulatory uncertainty, and access to finance, calling for predictability and no backtracking on legislative commitments.
The July 2026 euro area bank lending survey showed easing credit standards for transitioning firms but tightening for high-emission firms without credible transition plans.
He put additional EU green investment needs at hundreds of billions of euros annually, citing a Commission estimate of around €477 billion per year until 2030.

Source document

0:15

ESMA Source document ↗

European Union ESMA Governance & Accountability ✓ 13 claims 19 Oct 2026

ESMA says access to third-country CSDs will continue past January 2027 deadline

ESMA has issued a statement addressing uncertainty over what happens when the transitional regime for third-country Central Securities Depositories expires on 17 January 2027, before EU legislation extending it is finalised. This matters for issuers and other market participants relying on notary and central maintenance services from non-EU CSDs.

The current transitional regime for third-country CSDs is set to expire on 17 January 2027.
ESMA's statement, reference ESMA74-2119945926-3877, was published on 7 October 2026.
The Market Integration and Supervision Package, which proposes extending the transitional regime, remains under negotiation.
ESMA states it understands both the Council of the European Union and the European Parliament support an extension.
Issuers had raised concerns about operational challenges stemming from uncertainty over continued access to third-country CSD services.

Source document

0:15

ECB Banking Supervision Source document ↗

European Union ECB Banking Supervision Sustainability ✓ 21 claims 18 Oct 2026

ECB's Elderson says climate stress tests cover all material risks in 15% of cases

Frank Elderson used a keynote at the ECB-Bank of England conference on supervising climate risk to sort climate and nature risks into known knowns, known unknowns and unknown unknowns. The core supervisory message: scenario analysis is indispensable but incomplete, and banks remain early in integrating these risks into core models. The speech extends the same logic to AI, quantum computing and demographic shifts.

Elderson said climate stress tests and scenario analysis in the ICAAP cover all the risk drivers banks deem material in only around 15% of cases.
The average share of interest income from carbon-intensive sectors at significant supervised banks has remained above 70% since 2022.
The 2026-28 supervisory priorities treat heightened uncertainty as a cross-cutting challenge raising the likelihood of extreme tail risks.
Elderson extended the climate framework to AI-enabled cyber risk and to quantum computing's 'harvest now, decrypt later' threat to cryptography.

Source document

0:15

ESMA Source document ↗

European Union ESMA Markets & Infrastructure ✓ 18 claims 18 Oct 2026

ESMA completes T+1 rulebook, sets 7 December 2026 as first compliance deadline

ESMA has published the final piece of the regulatory framework for the EU's move to T+1 securities settlement, confirming an 11 October 2027 switchover. The briefing matters because the first binding obligation arrives sooner, on 7 December 2026, when investment firms and their clients must meet new allocation and confirmation requirements. This covers what is now fixed and what firms must do next.

The EU will switch to T+1 settlement on 11 October 2027, with the regulatory framework now complete.
From 7 December 2026, investment firms and their clients must comply with new allocation and confirmation requirements.
Those requirements mandate electronic, standardised communication channels, international messaging standards and machine-readable methods, except during temporary technical disruptions.
ESMA has published the RTS and revised Guidelines on standardised procedures and messaging protocols, and published a final report under reference ESMA74-2119945926-3749.

Source document

0:15

CSSF Luxembourg Source document ↗

European Union CSSF Luxembourg Financial Crime ✓ 10 claims 18 Oct 2026

AMLA calls stakeholders to Frankfurt roundtables on simplified customer due diligence

AMLA is running sectoral roundtables on simplified customer due diligence, and Luxembourg's CSSF is pushing firms to take part. The sessions will shape draft guidelines meant to standardise how simplified CDD is applied across the EU. The window to express interest is short and the meetings are in person only, so this segment covers who should engage and by when.

AMLA will organise sectoral roundtables on simplified customer due diligence, held in person in Frankfurt am Main between 9 November and 2 December 2026.
Expressions of interest must be submitted by 18 October 2026 at 23h59 CEST.
Feedback from the roundtables will inform draft guidelines on proportionate application of simplified CDD across the EU.
The CSSF strongly encourages Luxembourg professionals and their representative bodies to participate.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Markets & Infrastructure ✓ 24 claims 18 Oct 2026

ECB securities financing survey records fourth straight quarter of easing credit terms

The ECB's quarterly SESFOD survey covers how 26 large banks set credit terms in euro-denominated securities financing and OTC derivatives markets. This round shows a fourth consecutive quarter of slight easing, concentrated in pricing, alongside rising valuation disputes in parts of the derivatives market. It is a useful read on how dealers are pricing counterparty risk heading into a period of geopolitical uncertainty.

Overall credit terms and conditions eased slightly for all counterparty types for a fourth consecutive quarter, mainly through price terms.
Non-price terms eased slightly for banks and dealers but tightened slightly for hedge funds, whose use of leverage increased slightly.
Demand for securities financing rose across most collateral types, led by equities at a net 27% of respondents, while haircuts fell for most bond collateral and asset-backed securities.
Initial margin requirements decreased slightly for FX, interest rate, equity and several credit derivative types, while valuation disputes increased for several derivative types, particularly credit derivatives.
Results are based on responses from 26 large banks, comprising 14 euro area banks and 12 with head offices outside the euro area.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Prudential & Capital ✓ 15 claims 17 Oct 2026

Lagarde tells IMF rate hikes of 25bp in June and September were measured, not looking through shock

Christine Lagarde's statement to the IMF's steering committee lays out the ECB's view of growth, inflation and financial stability risks, alongside concrete updates on monetary policy, the EUREP repo facility, and digital euro/tokenisation projects. Useful for compliance and treasury teams tracking policy direction and infrastructure timelines.

The Governing Council raised key ECB interest rates by 25 basis points in September, following an identical increase in June.
September headline inflation rose to 3.8% and core inflation to 2.5%, with headline inflation expected to return to around target towards the end of 2027.
September ECB staff projections foresee euro area growth of 0.9% in 2026, 1.4% in 2027 and 1.5% in 2028.
A 12-month internal digital euro pilot is planned for the second half of 2027, contingent on the EU adopting the digital euro Regulation by end-2026.
The Eurosystem's Pontes DLT platform went live on 21 September as the first step toward a tokenised asset ecosystem under the Appia initiative.

Source document

0:15

Single Resolution Board Source document ↗

European Union Single Resolution Board Prudential & Capital ✓ 13 claims 16 Oct 2026

SRB moves bank-specific resolvability reporting to a three-year cycle from 2027

The SRB has published its annual list of consultations, data requests and deliverables for the coming year, alongside a structural change to how often banks must submit certain resolvability materials. This affects EU banks under SRB remit tracking compliance workload and reporting calendars for 2027 and beyond.

The SRB published its list of consultations, data requests and deliverables for 2027 on 7 October 2026.
From 2027, a broad set of bank-specific deliverables detailed in Table 2.2 move from annual to a three-year submission cycle where no material resolvability concerns exist.
The SRB has discontinued, with immediate effect, the quarterly Sign-off form on MREL eligibility of reported liabilities.
The SRB states that banks with consistently satisfactory resolvability performance can expect bank-specific deliverable requests to fall by up to one-third over the medium term, assuming legal stability.
Each bank has already received a priority letter setting out which 2027 requirements apply to its individual situation.

Source document

play

European Commission Digital Strategy Source document ↗

European Union European Commission Digital Strategy AI, Technology & Data ✓ 17 claims 16 Oct 2026

European Commission sets AI Innovation Month for 14 October to 17 November 2026

The European Commission has scheduled European AI Innovation Month from 14 October to 17 November 2026, run with the Irish Presidency of the Council. The programme is built around three flagship summits and a run of partner events. This is a convening and showcase exercise rather than a rulemaking, but it maps where EU AI policy conversation will concentrate over that window.

European AI Innovation Month runs from 14 October to 17 November 2026, led by the Commission with the Irish Presidency of the Council.
The International AI Summit opens the month on 14 October in Dublin, under the theme of harnessing AI to revolutionise Europe's competitiveness.
The Apply AI Summit on 17 November in Brussels and online closes the month and marks the first anniversary of the Apply AI Strategy.
A Virtual Conference Platform and a series of partner events across Europe run alongside the three flagship summits.

Source document

0:15

European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 27 claims 16 Oct 2026

ECB's Cipollone says digital euro payments could begin within 12 months

ECB Executive Board member Piero Cipollone discusses the digital euro's timeline, rationale and merchant impact in an interview with Corriere della Sera. For compliance and payments teams, this signals near-term milestones on legislation, piloting and participant selection that will shape preparation timelines.

Piero Cipollone said the digital euro pilot was launched in summer 2026, with first tests starting next year and first payments within 12 months.
The ECB received nearly 60 applications in May to take part in the pilot and selected 36 participants, including several Italian banks.
Technical standards agreements were signed in April 2026, according to Cipollone.
Cipollone said the digital euro would be free to individuals, as cash is today, and would also work offline without an internet connection.
He said the EU legislative text needed before the project can proceed should be ready by the end of the year.

Source document

Regulatory news and audio briefings from financial regulators worldwide — financial crime, AML, sanctions, fraud, digital assets and compliance

Regulatory heat map

Filtered