Europe
EBA published its 2026 Work Programme and announced 21 actions to streamline EU regulation
01 Oct 2025: The EBA released its 2026 Work Programme, outlining strategic priorities and 21 targeted actions to improve regulatory and supervisory efficiency. The programme focuses on simplifying frameworks and enhancing cooperation across EU and non-EU stakeholders.
EBA launched the 2025 EU-wide Transparency Exercise
29 Sep 2025: EBA initiated its annual Transparency Exercise to complement Pillar 3 disclosures and promote market discipline. The exercise provides consistent, comparable data on EU banks’ financial health, supporting investor confidence and supervisory convergence.
EBA Risk Dashboard shows improved ROE despite margin pressure
24 Sep 2025: The Q2 2025 Risk Dashboard highlights improved return on equity across EU/EEA banks, despite continued net interest margin compression. The data reflects sector resilience and supports supervisory monitoring of profitability and risk trends.
EBA advises on EU covered bond framework review
23 Sep 2025: In response to the European Commission’s Call for Advice, the EBA recommended enhancements to the EU covered bond framework. Key proposals include harmonization across jurisdictions, improved legal clarity, and expanded market scope to support integration and transparency.
ESAs urge vigilance amid geopolitical and financial stability risks
19 Sep 2025: The EBA, EIOPA, and ESMA published their Autumn Joint Committee Report, warning of heightened geopolitical tensions and systemic vulnerabilities. Supervisors called on financial institutions to maintain robust risk management and provisioning in response to global uncertainty.
EBA has published a draft of the EBA 4.2 taxonomy for public comment
Feedback will be incorporated in the final release scheduled for publication in November.
It contains all 51 modules.
Most have a first reference date of March 2026, while others start in December 2025.
Please note that although DORA is included in this release, it will not be used for the 2026 data collection: the EBA v4.0 taxonomy must be used instead.
NACE2.1 codes are not used in EBA 4.2 as they are not part of the ITS. Advice on converting NACE 2.1 codes to NACE 2.0
codes is provided by the JBRC (link).
The ECB SFRDP taxonomy is updated to include 9 new data points
This taxonomy is expected to be published by the ECB around mid-October, and must be used for the report with reference date December 2025
The EBA has added a new module, FINREPDPFINREP, which will replace the ECB SFRDP module. This EBA module will be used for reference periods in 2026 and later. The ECB Expert Group on Data Quality (EGDQ) rules will be updated after publication of the EBA v4.2 taxonomy.
Single Resolution Board (SRB) update
SRF data collection (EAC_IND) for 2026 will use the taxonomy published in July. The only format allowed is xBRL-XML.
Resolution reporting for 2026 will use the EBA taxonomy modules RESOL1 and RESOL2, both must be reported in
xBRL-CSV format for the reference date December 2025 (and thereafter).
Please note that the validation rules in the
EBA v4.2 draft release cover only 75% of the number of rules expected in the final release.
The U.K.
PRA issues thematic feedback on IFRS 9 and climate risk accounting
30 Sep 2025: A letter to CFOs from David Bailey summarizes findings from auditor reports on IFRS 9 expected credit
losses and climate risk disclosures. The PRA highlighted areas for improvement in governance, model validation, and consistency of provisioning practices.
PRA introduces sequential numbering for Statements of Policy
30 Sep 2025: The PRA adopted a sequential annual numbering format for Statements of Policy, aligning with its approach for CPs, PSs, and SSs. This change improves document traceability and consistency across regulatory publications.
PRA proposes deletion of 37 EU-inherited reporting templates
22 Sep 2025: The Bank of England PRA launched a consultation to remove 37 legacy templates, aiming to reduce
reporting burdens and save firms an estimated £26 million annually. The initiative is part of the Future Banking Data programme and reflects a shift toward proportionate, cost-effective supervision.
FCA consultation on Handbook application for regulated cryptoasset activities
17 Sep 2025: The FCA launched CP25/25 to consult on applying existing Handbook rules to regulated crypto-asset firms.
The proposals cover governance, ESG, operational resilience, and consumer protection. Feedback is sought by 15 October and 12 November 2025 for discussion proposals and consultation proposals.
APAC
Reserve Bank of India proposes Expected Credit Loss (ECL) framework for provisioning
01 Oct 2025: Reserve Bank of India(RBI) proposes applying the Expected Credit Loss (ECL) provisioning framework with prudential floors to all scheduled commercial banks (excluding Small Finance Banks, Payment Banks, and Regional
Rural Banks) and All India Financial Institutions (AIFIs) from April 1, 2027. A glide path till March 31, 2031, will help
banks manage any one-time impact from higher provisioning on existing loans.
RBI plans Basel III Guidelines on Capital Charge for Credit Risk – Standardized Approach
01 Oct 2025: The RBI plans to implement revised Basel III capital adequacy norms for commercial banks from April 2027.
A draft on the standardized approach for credit risk will be issued soon. Under the proposed norms, lower risk weights
for certain sectors, particularly MSMEs and residential real estate, including home loans, are expected to reduce overall capital requirements.
HKMA and SFC issued a supplemental joint circular on intermediaries’ virtual asset-related activities
30 Sep 2025: Aimed at updating relevant licensing or registration conditions and terms and conditions for intermediaries, the Joint Circular sets out the requirements for intermediaries which intend to or are engaging in certain virtual asset dealing services, advisory services, asset management services and/or distribution of investment products with exposure to virtual assets (virtual asset-related activities).
BNM releases Exposure Draft (ED) on Interest Rate Risk in the Banking Book
30 Sep 2025: The proposed ED for IRRBB sets out requirements for
(i) qualitative principles on IRRBB management
(ii) a quantitative Standardized Framework for financial institutions to measure and report IRRBB
(iii) the Bank’s expectations on Pillar 2 capital allocation for IRRBB.
Updates to APRA’s plan to migrate from D2A to APRA Connect
Since the introduction of APRA Connect platform in 2021, APRA continues to build upon the transition plan for all reporting entities to migrate seamlessly. From the latest information shared by the regulator, the following are the salient updates:
- The target timeline for migration remains 2027-year-end
- All the banking data collections, amongst others, transition iteratively
- EFS in 2026
- Other financial statements collections in 2026
- Liquidity reporting by mid-2027
- The existing forms, most of the reporting validations to remain intact to minimize the impact
- Supported formats being XML & Excel, whereas XBRL is out of support
- API connectivity is still not planned & on the roadmap yet
Americas
Canada
OSFI held its quarterly Industry Day and Quarterly Release
25 Sept 2025: The Office of the Superintendent of Financial Institutions (“OSFI”) held a virtual session to provide stakeholders the opportunity to ask questions about the items posted at the September 11th Quarterly Release.
OSFI announced “several updates to guidelines aimed at focusing OSFI’s response to risks, clarifying regulatory expectations, and improving the overall efficiency of its oversight. OSFI published a report on the Standardized Climate Scenario Exercise (SCSE) that will enhance the financial sector’s understanding of climate-related financial risks. Finally, OSFI outlined a revised approach to Administrative Monetary Penalties (AMPs) that aligns better with OSFI’s risk appetite and the current risk environment.
OSFI published the following elements as part of its regular Quarterly Release:
Updated guidelines
- Capital Adequacy Requirements (CAR) Guideline
- Guideline E-23: Model Risk Management
- Guideline E-15: Appointed Actuary
Other initiatives
- Standardized Climate Scenario Exercise
- Administrative Monetary Penalties
United States
FDIC releases results of the Summary of Deposits Annual Survey
19 Sept 2025: The Federal Deposit Insurance Corporation (FDIC) released results of its annual survey of branch office deposits for all FDIC-insured institutions as of June 30, 2025. The FDIC’s Summary of Deposits (SOD) provides deposit totals for each of the more than 76,000 domestic offices operated by more than 4,400 FDIC-insured commercial and savings banks, savings associations, and U.S. branches of foreign banks.
