Author: Selwyn Manning

Source: European Banking Authority

Consultation process 

Legal basis 

Background and next steps 

Source: Government of the Netherlands

News item | 10-07-2025 | 09:43

The foreign minister also announced that €30 million of this sum will be earmarked to help Dutch businesses and organisations to set up projects that contribute to Ukraine’s reconstruction and sustainable recovery through the Ukraine Partnership Facility (UPF) grant programme. Mr Veldkamp had already said that €52 million of the Dutch contribution would be spent on repairing Ukraine’s energy infrastructure and drinking water supplies in 2025.

In addition, the Netherlands is donating €4 million for the construction of a new wing at the children’s hospital in Lviv, to be carried out in partnership with the Princess Máxima Center for paediatric oncology in Utrecht.

These amounts are part of the funds that the government had already set aside for non-military support to Ukraine in 2025 and 2026. The support amounts to €252 million per year, which adds up to more than €500 million in total. The details of how the first €200 million would be spent had already been announced. Now the purpose of the remaining amounts has also been determined. 

‘Russia isn’t just trying to bring Ukraine’s armed forces to their knees, but for more than three years has also been attempting to destroy Ukraine’s society and economy through continuous attacks, for instance on energy infrastructure, water supplies and grain storage facilities, as well as houses and apartments. It is therefore important that the international community supports Ukraine not only with arms, but also with financial, economic and social assistance. Ukraine’s economy and society must be kept running because that will help the country in its struggle. It is, as it were, another front line. Our financial and economic support is also intended to help the recovery process run more smoothly and to keep the costs of reconstruction down,’ said Mr Veldkamp. 

Ukraine Partnership Facility

At the conference, Mr Veldkamp and Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, will sign a cooperation agreement on the extension of the UPF grant programme established in 2023 to help Dutch businesses and organisations working on projects in the fields of agrofood, sustainable energy, healthcare, water and circular construction that will benefit Ukraine’s recovery and reconstruction. The Netherlands and Ukraine will collaborate to ensure that the selected projects meet Ukraine’s needs to the greatest extent possible. 

€20 million to boost Ukraine’s cyber resilience

One of the topics discussed at the conference will be efforts to boost Ukraine’s cyber resilience. The Netherlands had already announced it was setting aside €10 million per year for 2025 and 2026 to assist Ukraine in this area. The cyber threat posed to Ukraine by Russia has never been greater, as cyber attacks are an integral part of Russia’s war effort. The funding may for example be used to increase the cyber resilience of critical sectors such as energy and transport.

Source: European Banking Authority

The European Banking Authority (EBA) today launched a public consultation to amend the EU Delegated Regulation on own funds and eligible liabilities. The proposed key amendment is the shortening of the timeframe to process the applications to reduce own funds and eligible liabilities instruments under the Capital Requirements Regulation (CRR), with the aim of simplifying processes. The consultation runs until 9 October 2025.

Leveraging on the experience that competent and resolution authorities have gained during the past few years, and to allow institutions more flexibility in their capital planning, the EBA is proposing to shorten the timeframe to process the applications to reduce own funds and eligible liabilities instruments from four to three months. The initiative is in line with the EBA’s commitment in 2021 to monitor how the submission and assessment of applications is implemented in practice. In addition, the simplified procedure for the reduction of MREL eligible liabilities for liquidation entities is removed from the RTS, in line with recent amendments of the Level 1 text. 

Consultation process

Responses to the consultation can be sent to the EBA by clicking on the “Submit response” button on the consultation page.

All contributions received will be published after the consultation closes, unless requested otherwise. The deadline for the submission of comments is 9 October 2025.

A public hearing on this consultation will take place via conference call on 2 September 2025 from 9:00 to 10:00 CEST. Deadline for registration is 28 August 2025 at 16:00 CEST.

Legal basis and background

The 2021 update of the RTS on own funds and eligible liabilities instruments, among other changes, extended the timeframe to reduce own funds and eligible liabilities instruments from three to four months. The extension was necessary to cater for the more complex assessment that competent and resolution authorities needed to undertake.

The industry considered the four-month timeline too long in 2021 and the EBA committed to monitoring the implementation. As a result of the monitoring, in 2024, the EBA considered that competent and resolution authorities had gained the necessary experience and were able to process applications within a shorter period. 

Source: Government of the Netherlands

News item | 09-07-2025 | 11:57

ECtHR and flight MH17

In 2020 the Netherlands submitted an inter-State application to the ECtHR regarding Russia’s responsibility for the downing of flight MH17 on 17 July 2014 over eastern Ukraine. All 298 people on board were killed, including 196 Dutch nationals.

The ECtHR’s judgment

This is the second time in a short period that it has been established at international level that Russia violated international law when it downed flight MH17. The ECtHR ruled in the Netherlands’ favour in regard to Russia’s violation of four human rights, as laid down in the European Convention on Human Rights:

• Russia is responsible for the downing of flight MH17 and the deaths of everyone on board (Article 2, right to life, substantive).
• Russia did not perform an adequate investigation of its own, and did not cooperate sufficiently with requests for information submitted by the Netherlands and the Joint Investigation Team (Article 2, right to life, procedural).
• Russia’s lack of cooperation and continued denial of any involvement in the downing of flight MH17 caused the next of kin additional suffering (Article 3, prohibition of torture and inhuman treatment).
• Russia did not provide the next of kin with any legal remedy (Article 13, right to an effective remedy).

Minister of Foreign Affairs Caspar Veldkamp: ‘The judgment of the European Court of Human Rights is crystal clear: Russia is responsible for the downing of flight MH17 and for the deaths of everyone on board, including 196 Dutch nationals. This confirms what we have known and felt all along, and is an important step on the road to justice.

Russia is also responsible for additional suffering caused to the next of kin, due to its continued denial of any involvement and lack of cooperation. Nothing can take away the grief and suffering, but I hope that this outcome brings a sense of justice and acknowledgement.’

Next steps

Up until now, the proceedings before the ECtHR have been focused on establishing the human rights violations concerned. Now that these have been established, the ECtHR can determine the consequences of the violations and the damages payable. Throughout this process, the Netherlands will remain in close contact with the next of kin about potential damages.

Source: European Banking Authority

The European Banking Authority (EBA) today launched a public consultation proposing to revise the EBA Guidelines on product oversight and governance (POG) arrangements for retail banking products. The proposed revision aims to prevent greenwashing and ensure that financial institutions meet the highest standards of business conduct when offering products with Environmental, Social and Governance (ESG) features to consumers. The consultation runs until 9 October 2025.

The proposed amendments aim to strike the right balance between clarifying existing POG requirements for products with ESG features to prevent consumer detriment (e.g. risks of misleading commercial practices, mis-selling of products etc.) that might occur if financial institutions fail to comply with conduct requirements when offering product with ESG features, without imposing additional regulatory burden on FIs.

In June 2024, the EBA published a report on greenwashing, highlighting an increase in potential cases across all sectors, including among EU banks. In light of this report and recent legislative changes such as amendments to the Capital Requirement Directive (CRD) and the Capital Requirements Regulation (CRR) regarding ESG risks, the EBA concluded that it is necessary to give further consideration to products with ESG features and greenwashing risks in the existing POG Guidelines.

The consultation paper proposes a targeted approach, adjusting only a limited number of existing requirements in the POG GLs related to the subject matter, manufacturer’s internal control functions, the target market, distribution channels, information for distributors and information and support for the manufacturer’s arrangements.

The EBA expects to publish its final guidelines in Q1 2026, which will be applied as of 1 December 2026.

Consultation process and next steps

Comments to this consultation can be sent to the EBA by clicking on the “send your comments” button on the consultation page. Please note that the deadline for the submission of comments is 9 October 2025. All received contributions will be published at the end of the consultation, unless requested otherwise.

The EBA will hold a virtual public hearing on the consultation paper on 11 September 2025 from 14:30 to 16:30 CET. Please register for the hearing here by 8 September 2025 by 17:00 CET. The dial-in details will be communicated to those who have registered for the meeting.

Background

The EBA issued its initial POG Guidelines in 2016 to address conduct failures of financial institutions. These Guidelines are addressed to manufacturers and distributors of retail banking products in EBA’s remit, namely mortgages, personal loans, deposits, payment accounts, payment services, and electronic money. Recent legislative developments necessitate a revision to incorporate ESG objectives and greenwashing risks and to ensure compliance with the highest standards of business conduct.

The EBA developed these draft Guidelines in accordance with Article 16 of Regulation (EU) No 1093/2010 which empowers the EBA to issue guidelines to ensure the effective and consistent application of European Union law. 

Source: European Banking Authority

The European Banking Authority (EBA) today launched a public consultation on the draft Guidelines on the sound management of third-party risk. The draft Guidelines focus on third-party arrangements in relation to non-ICT related services provided by third-party service providers and their subcontractors with a particular focus on the provision of critical or important functions. These Guidelines revise and update the previous EBA Guidelines on outsourcing, published in 2019, in line with the Digital Operational Resilience Act (DORA). The consultation runs until 8 October 2025.

The draft Guidelines specify the steps to be taken by financial entities for the life cycle of third-party arrangements (i.e. risk assessment, due diligence, contractual phase, sub-contracting, monitoring, exit strategies and termination processes) to ensure consistency with the requirements under the DORA framework to the extent possible. The draft Guidelines provide specific criteria for the application of the proportionality principle.

In addition, the draft Guidelines ensure consistency with the DORA register by allowing financial institutions to store consistent information for both ICT and non-ICT services, including the possibility of using one single register. Taking into account the application of proportionality, the level of information to be documented has been limited to reduce the burden on both financial entities and competent authorities.

To ensure a smooth and efficient transition, financial entities falling under the scope of the updated Guidelines have a transitional period of two years to review and amend their existing third-party arrangements (TPA) and to update the register for non-ICT TPA.

Consultation process

Comments to the consultation paper can be sent by clicking on the “send your comments” button on the EBA’s consultation page. The deadline for the submission of comments is 8 October 2025.

The EBA will hold a virtual public hearing on 5 September from 09:00 to 13:00 – Paris time. The EBA invites interested stakeholders to register using this link by 1 September (16:00 CEST). The dial-in details will be communicated to those who have registered for the meeting.

All contributions received will be published following the end of the consultation, unless requested otherwise.

Legal basis

The draft Guidelines have been developed in accordance with Article 74 of Directive 2013/36/EU which mandates the EBA to further harmonise institutions’ governance arrangements, processes and mechanisms across the EU. Article 11 of Directive (EU) 2015/2366/EU (PSD2), Article 26 of Directive 2019/2034/EU (IFD), Article 16 of Directive (EU) 2014/65 (MiFID II), Article 34 of Regulation (EU) 2023/1114 (MiCAR) and Article 16 of Regulation (EU) No 1093/2010 have also been taken into account.

Source: European Banking Authority

The European Banking Authority (EBA) today launched a public consultation on its draft Guidelines on Ancillary Services Undertakings (ASUs). The draft Guidelines set out clear, simple and consistent criteria for the identification of activities referred to in Article 4(1)(18) of Regulation (EU) No 575/2013 of the Capital Requirements Regulation (CRR). The consultation runs until 7 October 2025.

• The proper identification of ASUs is essential to ensure the consistent and effective application of the prudential framework. It plays a key role in determining the scope of prudential consolidation for banking groups, thereby enabling institutions to comply with the obligations laid down in the CRR on a consolidated basis.
• The draft Guidelines set the criteria for the identification of: (a) activities that should be considered a “direct extension of banking”; and (b) activities that should be considered “ancillary to banking”. They also outline the process to identify activities that the EBA may consider similar to those referred to in points (a) and (b) of Article 4(1)(18) of the CRR.
• The objective of the draft Guidelines is to promote convergence in institutions and supervisory practices regarding the identification of ASUs, with the aim of ensuring a level playing field and enhancing the comparability of prudential requirements across the EU.

Consultation process

Comments to the consultation paper can be sent by clicking on the “send your comments” on the EBA’s consultation page. The deadline for the submission of comments is 7 October 2025. The EBA will consider the feedback received to this consultation when finalising the Guidelines.

All contributions received will be published following the end of the consultation, unless requested otherwise.

The EBA will hold a virtual public hearing on the consultation paper on 2 September 2025 from 10:00 to 11:30 CET. The EBA invites interested stakeholders to register using this link by 26 August  2025 at 18:00. The dial-in details will be communicated to those who have registered for the meeting.

Legal basis and background

The draft Guidelines were developed as part of the planned EBA’s actions  for the implementation of the EU banking package. They deliver on the mandate laid down in Article 4(5) of the CRR.

Source: European Banking Authority

The European Banking Authority (EBA) today published a hotfix of its Reporting Framework 4.1 to address a series of technical issues identified in the initial release. This hotfix aims to ensure the consistency and accuracy of the reporting requirements by including some corrections.

To support transparency and facilitate implementation by reporting institutions, the EBA has also made available a list of issues and inconsistencies found in the original version of Framework 4.1. This list provides a clear overview of the issues addressed and the corresponding fixes applied in the hotfix release, as well as other issues identified that will be addressed in v4.2 for which an interim solution is proposed. The updated technical package and issues list are available on the Reporting framework 4.1 | European Banking Authority webpage.

In addition, on Reporting framework 4.2 | European Banking Authority which includes the updated referenced date for modules in release 4.2, the EBA announces the postponement of the obligation to use the xBRL-CSV reporting format. Originally scheduled to become mandatory from the reference date of December 2025, the new reference date for mandatory xBRL-CSV reporting will be March 2026. This delay is intended to give institutions additional time to adjust their systems and processes to the new format.

Source: European Banking Authority

The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today announced that they have concluded a multilateral Memorandum of Understanding (MoU) with the European Union’s new Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) to ensure effective cooperation and information exchange between the four institutions.

The multilateral MoU outlines how the ESAs and AMLA will exchange information with one another and cooperate in practice to perform their respective tasks in an efficient, effective and timely manner. The memorandum aims to promote supervisory convergence throughout the EU’s financial sector, enable the exchange of necessary information, and foster cross-sectoral learning and capacity building among supervisors in areas of mutual interest. It is part of the overall cooperation framework that AMLA is required to issue in relation to the financial sector and is an important component of the institutional arrangements going forward. 

Petra Hielkema, Chair of EIOPA and Chair of the Joint Committee of the ESAs said: “The memorandum we signed demonstrates the strong commitment of Europe’s financial supervisors to working closely together to combat money laundering and terrorist financing—crimes that undermine social justice and the well-being of our communities. Uncovering companies that engage in or facilitate such activities demands serious effort and dedication. The ESAs stand ready to support AMLA with all the knowledge and information at our disposal so that it can exercise its new powers to ensure that these illicit activities do not go undetected or unpunished on our soil. We look forward to a productive and efficient EU-wide collaboration with AMLA to protect the integrity of the EU’s financial system and create a safer and fairer financial environment for all.”

Bruna Szego, Chair of AMLA said: “This Memorandum marks an important step in delivering a risk focused and integrated European AML/CFT framework. Cooperation between AMLA and the ESAs is essential so that we support each other to effectively deliver on our respective mandates and work together for a safer and more resilient Europe . The fight against crime affects all sectors and we are stronger when we work together’.

Legal background

Article 91 of the AMLA Regulation requires AMLA to conclude a multilateral MoU with the ESAs by 27 June 2025, which would set out how the Authorities intend to cooperate in the performance of their tasks under Union law.

About AMLA

The Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has the objective to transform the anti-money laundering and countering the financing of terrorism (AML/CFT) supervision in the EU and enhance cooperation among financial intelligence units (FIUs). AMLA will directly supervise the EU’s highest-risk financial institutions with significant cross-border exposure. It will exercise indirect supervision across both the financial and non-financial sectors, ensuring that national supervisors apply EU AML/CFT rules consistently and effectively.. AMLA coordinates the work of Financial Intelligence Units (FIUs) helping to improve the quality, consistency, and cross-border exchange of financial intelligence.  It complements EU AML/CFT rules by developing regulatory and implementing technical standards and issuing guidelines.

About the ESAs

The three European Supervisory Authorities (the EBA, EIOPA and ESMA) have the objective to protect the public interest by contributing to the short, medium, and long-term stability and effectiveness of the financial system, for the Union economy, its citizens, and businesses. The ESAs are tasked with developing and implementing a common regulatory framework and convergent supervisory practices across the EU.

Through the Joint Committee, the ESAs regularly and closely coordinate their supervisory activities within the scope of their respective responsibilities to ensure consistency in their practices. The Joint Committee’s chairmanship rotates annually among the authorities. In 2025, the forum is chaired by EIOPA.

Source: Government of the Netherlands

News item | 30-06-2025 | 14:00

As Minister Struycken explains, “These young people were affected first of all by unfair claims by the Tax and Customs Administration and then by being placed in care without the causes of the problems their families were facing being sufficiently recognised. The youth care and protection system failed to prevent them being placed in care.”

Painful conclusions call for decisive action

The report shows that, in many cases, claims by the Tax and Customs Administration led to debt, poverty and stress which in turn created or exacerbated family problems. Shortcomings on the part of neighbourhood teams and youth care and protection meant that the financial causes were insufficiently identified and this resulted in care orders that might otherwise have been prevented.

In the words of Minister Palmen-Schlangen, “These young people are still burdened by the negative impact each and every day. You can rest assured that you’ve now been seen and heard and we recognise the government’s actions caused a great deal of suffering. That’s why we want to help young people with what they need most.”

Three-pronged approach: recognise, support, learn

The government acknowledges that these children have been particularly affected by its mistakes. It now wants to initiate a careful process during which it will work together with the partners and organisations involved, as well as with young people themselves, to determine how this process of recognition should be structured and implemented and apologies made. The government also wants to expand and improve the existing child support scheme.

A national support centre is going to be set up for all parents and young people who are looking for help with their mental health issues. In addition, a new scheme is going to be introduced for young people who were placed in care and who want to help with training and development. The independent Support Team, which helps aggrieved parents and children who were affected by care orders, is going to continue its work.

The government wants to learn from the mistakes made, for example by adopting an integrated family approach, strengthening legal protection in the context of youth protection and a culture change which revolves around trust in families.

Young people central to the plans

It is important to regain the trust of those families that were affected. That is why young people themselves are going to be closely involved in the process of developing the measures. They will play an active role, including in the actual implementation of those measures, for example in terms of contact with their peers or by providing information to youth welfare organisations.

Joint responsibility

The government wants to prevent families from experiencing the same kind of suffering again and it is taking the lessons from the Hamer Commission report on board. The report stresses the need to address complex problems in families in a coherent way and to make the youth sector more family orientated.

As Minister Tielen explains, “In the Youth Reform Agenda it was agreed that strong local teams should look more closely at what young people and families really need. Their situation and life experiences are key in this respect. This is an important point of departure as far as the government is concerned.”

This move is in line with the improvements in youth protection which are being made on the basis of the Future Scenario for Child and Family Protection. The government wants fewer children to be placed in care and a coherent approach to assistance.

Cooperation with chain partners

Organisations such as the Child Care and Protection Board (Raad voor de Kinderbescherming), certified institutions and the judiciary have completed their own reviews and have started introducing improvement measures.

As Minister Struycken explains, “We are adopting a joint approach. It is our collective responsibility to ensure that this suffering is never repeated and that affected children receive the support they deserve for their recovery and future.”

The government is going to inform the House of Representatives on progress with regard to all the planned measures by the end of 2025.