Page Contents
Domestic
European
Related areas
Cabinet agrees to bring forward right to be forgotten legislation before Summer Recess
On 8 July 2025, the Irish Government agreed to bring forward the Central Bank (Amendment) Bill 2025 (the Bill) which would limit discrimination against cancer survivors for receiving mortgage protection where they have met defined recovery milestones.
Under the Bill, insurers are required to disregard a cancer diagnosis where treatment ended more than seven years prior to their application for insurance, or more than five years where they were under 18 at the time of diagnosis.
ECB commits to DLT settlement plans with dual-track strategy
On 1 July 2025, the Governing Council of the European Central Bank (ECB) approved plans to enable the settlement of distributed ledger technology transactions using central bank money.
EBA consults on draft guidelines on the application of the definition of default under Article 178 CRR
On 2 July 2025, the European Banking Authority (EBA) launched a public consultation on its draft amended guidelines on the application of the definition of default under Regulation (EU) 575/2013 on prudential requirements for credit institutions and investment firms (CRR). In the context of debt restructuring, the EBA proposes to maintain the current 1% net present value loss threshold.
A public hearing will take place on 3 September 2025 with the deadline for submissions being 15 October 2025.
EBA consults on draft guidelines on the methodology to estimate and apply credit conversion factors under the CRR
On 2 July 2025, the EBA launched a public consultation on the methodology to be used by institutions for self-estimation and the application of credit conversion factors under the CRR.
A public hearing will take place on 3 September 2025 with the deadline for submissions being 15 October 2025.
The EBA consults on draft guidelines on ancillary services undertakings
On 7 July 2025, the EBA launched a consultation on its draft guidelines concerning ancillary services undertakings which set the applicable criteria for identifying:
The EBA will hold a public hearing on 2 September 2025 with the consultation closing on 7 October 2025.
EBA consults on its draft guidelines on third-party risk management with regard to non-ICT related services
On 8 July 2025, the EBA launched a consultation on its draft guidelines concerning the sound management of third-party risk. In particular, the guidelines address third-party arrangements for the provision of non-ICT related services from third-party service providers and their subcontractors. The guidelines place a particular emphasis on these arrangements in the context of critical or important functions.
The deadline for submission of comments is 8 October 2025.
EBA consultation on guidelines on product oversight and governance arrangements for retail banking products to take into account products with ESG features and greenwashing risks
On 9 July 2025, the EBA launched its public consultation on its guidelines on product oversight and governance arrangements for retail banking products to take into account products with ESG features and greenwashing risks.
The guidelines address the recommendations made in the EBA’s previous report on greenwashing monitoring and supervision, and updates the EBA’s existing guidelines on product oversight and governance which were published in 2015. The 2015 EBA guidelines set a framework for product design and distribution with the consumer’s interest, objectives and characteristics in mind. The 2015 EBA guidelines were created in order to address previous retail and market conduct failures.
The consultation runs until 9 October 2025.
EBA consultation on RTS amending RTS on own funds and eligible liabilities
On 9 July 2025, the EBA launched its consultation on draft regulatory technical standards (RTS) which seek to amend Commission Delegated Regulation (EU) 241/2014 on the timing for the application for prior permission to reduce own funds and eligible liabilities instruments under Articles 77, 78 and 78a of the CRR.
The deadline for submitting responses is 9 October 2025.
The EBA consults on regulatory products on third-country branches under the CRD
On 11 July 2025, the EBA launched three public consultations concerning RTSs and guidelines on third-country branches under Regulation 2013/36/EU on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms (CRD). The public consultations are:
The consultation closes on 10 October 2025, with a public hearing taking place on 3 September 2025.
ECB publishes regulation on oversight requirements for SIPS
On 14 July 2025, the ECB’s Regulation (EU) 2025/1355 on oversight requirements for systemically important payment systems (SIPS Regulation) was published in the Official Journal. The SIPS Regulation firstly sets out the criteria for the identification of a payment system as a SIPS in the context of the Eurosystem, and secondly, imposes oversight requirements on a SIPS operator.
ECB amends the exercise of options and discretions available in Union law by national competent authorities in relation to less significant institutions
On 15 July 2025, the ECB adopted Regulation (EU) 2025/1520 amending Regulation (EU) 2016/445 on the exercise of options and discretions available in Union law, and Guideline (EU) 2025/1521 amending Guideline (EU) 2017/697 on the exercise of options and discretions available in Union law by national competent authorities in relation to less significant institutions.
ECB publishes guide and feedback statement on outsourcing cloud services
On 16 July 2025, the ECB published its finalised guide on outsourcing cloud services to cloud service providers following a public consultation which ended in July 2024. The guide sets out soft law clarifications for the ECB’s expectations in respect of DORA compliance by banks. The guide also demonstrates practices for managing outsourcing risk for supervised banks which use third party cloud services.
The ECB concurrently published its feedback statement on responses to the July 2024 public consultation.
Report on the exemption of third country undertakings from the requirement to set-up a branch for the provision of banking services to EU financial sector entities
On 23 July 2025, the EBA published its report to the European Parliament, European Council and European Commission on the exemption of third country undertakings from the requirement to set-up a branch for the provision of banking services to EU financial sector entities under Article 21c(6) of the CRD.
The EBA proposes a clarification on the interaction of Article 21c and other sectoral legislation in order to provide clarity to authorities and market participants.
EBA announces the publication time of the 2025 EU wide stress test results
On 25 July 2025, the EBA made an initial announcement that the results of the 2025 EU wide stress test will be published on 1 August 2025 at 18:00 CEST. Subsequently on 30 July 2025, the EBA published the metadata, data dictionary and guide for data exploitation which should be used by data users to automate the analysis of the 2025 stress test results when they are released.
Payment Systems Market Expert Group mandate extended
On 25 July 2025, the European Commission adopted Commission Decision amending Decision 2011/C 253/04 of 29 August 2011 setting up a Payment Systems Market Expert Group as regards its period of validity. The decision extends the validity of the group’s mandate from 31 December 2025 to 31 December 2030.
The group is made up of payment service providers and users, who advise the European Commission on policy development and implementation in the payments sector.
EBA consults on harmonised reporting for third-country branches across the EU
On 31 July 2025, the EBA launched a public consultation on its draft implementing technical standards (ITS) for the supervisory reporting of third-country branches under the CRD. The draft ITS aim to establish uniform formats, definitions, and reporting frequencies for third-country branches which ensure a consistent and comprehensive approach to regulatory and financial information reporting across the Union.
A public hearing will take place on 5 September 2025, with the deadline for submissions being 31 October 2025.
For more information on these topics please contact any member of A&L Goodbody's Financial Regulation Advisory team.
This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.