Source: European Banking Authority
Skip to main content
The EBA issues Opinions on two measures to address macroprudential risk following notifications by the Swedish FSA
Skip to main content
Skip to main content
Foreign minister Caspar Veldkamp to temporarily take over Foreign Trade and Development portfolio
Source: Government of the Netherlands
On June 3, 2025, Prime Minister Dick Schoof tendered the resignation of the members of government belonging to the Freedom Party (PVV) to His Majesty the King. All other ministers and state secretaries will continue in the capacity of a caretaker government. For the time being, Minister of Foreign Affairs Caspar Veldkamp will take over the duties of former foreign trade and development minister Reinette Klever.
Prime Minister Schoof tenders government’s resignation
Source: Government of the Netherlands
Following the conclusion of the leader of the Freedom Party (PVV) in the House of Representatives that he would no longer lend support to the government, the prime minister called a meeting of the cabinet. The outcome of that meeting was that PVV members of the government tendered their resignations to the King. The prime minister and the remaining members of the government resigned their portfolio, office or role.
The King, at the recommendation of the prime minister, and with immediate effect, has granted honourable discharge to the members of the government who were nominated by the leader of the PVV parliamentary party for the following appointments:
- Fleur Agema as Deputy Prime Minister and Minister of Health, Welfare and Sport;
- Dick Beljaarts as Minister of Economic Affairs;
- Barry Madlener as Minister of Infrastructure and Water Management;
- Marjolein Faber as Minister of Asylum and Migration;
- Reinette Klever as Minister for Foreign Trade and Development;
as well as:
- Ingrid Coenradie as Minister for Detention and Protection;
- Zsolt Szabó as Minister for Digitalisation and Kingdom Relations;
- Chris Jansen as Minister for the Environment and Public Transport;
- Vicky Maeijer as Minister for Long-term and Social Care.
Their tasks will be temporarily carried out by other members of the government.
With respect to the prime minister and the remaining members of the government, the King has considered their resignations and has asked that they continue to carry out the duties that they consider necessary to the interests of the Kingdom.
The Netherlands supports Radio Free Europe with donation of €3 million
Source: Government of the Netherlands
The Netherlands is donating €3 million to Radio Free Europe/Radio Liberty (RFE/FL), a media organisation that brings independent factual news to regions where press freedom is under pressure or non-existent. This was announced today by the Minister of Foreign Affairs Caspar Veldkamp. With this donation the Netherlands hopes to enable RFE/RL to continue its vital work.
‘Radio Free Europe plays an important role in providing independent journalism, from Eastern Europe to Asia,’ says Mr Veldkamp. ‘It serves as a counterweight to Russian propaganda and disinformation, and promotes press freedom. With this donation the Netherlands hopes to promote press freedom and democratic values in the countries where RFE/RL works.’
RFE/RL has been experiencing financial problems since March, when the US government cut funding for the US Agency for Global Media (USAGM) – the government agency that financed RFE/RL – with immediate effect.
That same month, the Netherlands signed a statement initiated by Czechia underscoring the importance of RFE/RL and calling for the implementation of a long-term financial solution. RFE/RL has been headquartered in Prague since 1995, and Czechia is working hard to ensure the organisation’s future.
The EBA releases final technical package for its 4.1 reporting framework to support compliance assessment of issuers and the Pillar 3 data hub
Source: European Banking Authority
The European Banking Authority (EBA) today published the final technical package for version 4.1 of its reporting framework. This package will support the assessment and identification of significant crypto asset providers. It will also support the centralisation of institutions’ prudential disclosures in the EBA Pillar 3 data hub, which shall facilitate access and usability of this information to all users, including institutions. This package support competent authorities in performing their supervisory duties regarding issuers’ compliance under MiCAR. This framework will apply as of the second half of 2025.
The draft technical package provides the standard specifications which include the validation rules, the data point model (DPM) and the XBRL taxonomies to support the following reporting obligations:
- Pillar 3 templates included in the comprehensive Implementing Technical Standards (ITS) on Pillar 3 disclosures, for the purpose of the Pillar 3 data hub.
- Own initiative guidelines on reporting of data that competent authorities will need for the purpose of their supervisory tasks and for significance assessment (MiCAR reporting Guidelines).
- Integration of Instant Payments reporting ITS into DPM and taxonomy
- A series of validation rules have been added to the ESG ad-hoc data collection module.
Background and Next steps
A draft version of the technical package for the 4.1 reporting framework was published at the end of March 2025. The final version published today includes corrections and addresses the feedback provided from the revision of the draft technical package by various stakeholders.
In June 2024, the EBA published its plan for the implementation of DPM 2.0. The draft technical package for version 4.1 published today, continues the transition to DPM 2.0 and to the new glossary, as announced in June. This draft technical package includes a version of the data dictionary contents in both formats the DPM 1.0 and the new format DPM 2.0.
The FAQs published in December 2024 providing additional explanations on the transition to DPM 2.0 and a new glossary period remain a good source of information. In addition, the EBA is providing a presentation explaining the use of DPM-XL language for validation rules
Foreign trade minister Reinette Klever: prosperity and resilience at the forefront of Dutch trade policy
Source: Government of the Netherlands
Foreign trade is the cornerstone of the Dutch economy. The Netherlands earns roughly a third of its total income abroad. Foreign trade also provides some 2.6 million full-time jobs – about a third of all jobs in the Netherlands. But an open economy also makes the Netherlands vulnerable to turmoil in global markets.
The government has therefore decided to implement an assertive trade policy. Priority will be given to what is good for the country’s economy (prosperity) and what is important for its security (resilience).
Speaking today, Ms Klever said, ‘This government will pursue a robust trade policy, focused on prosperity and a strong, resilient economy. We will continue to support our entrepreneurs abroad and invest in promising markets and high-potential sectors. The Netherlands is a trade champion and together we’ll make sure it stays that way, even in a turbulent world.’
Promising markets and high-potential sectors
The Netherlands will continue to invest in trusted partners and established markets where its businesses have long been successful. At the same time, the country is seeking new strategic partners, and the government is focusing on the promising markets of the future. These are countries that are expected to see strong economic growth in the coming decades, for example due to rapid population growth or major investment in education and research and development.
The government is also explicitly targeting high-potential sectors and essential key technologies, such as semiconductors (microchips), quantum technology and photonics. These technologies are important not only for the Dutch economy, but also for our national security and technological leadership.
Agreements within the EU
Within the European Union, the government aims to advocate more explicitly for Dutch trade interests, for example during talks on trade agreements. The government will work to ensure a level playing field internationally, so that Dutch entrepreneurs have a fair chance to compete.
In addition, it is committed to a well-functioning single European market, free from unnecessary rules. The Netherlands will also press for a constructive dialogue between the EU and the United States on import tariffs. At the same time, the government is ready to defend Dutch economic interests with countermeasures if dialogue does not lead to a positive outcome.
Protecting sensitive technologies
The government is also working to protect Dutch technologies, together with the EU and international partners. For example, the export of sensitive goods and technologies is being monitored to prevent them from falling into the wrong hands. The government is also actively implementing policy on knowledge security and overseeing the implementation of and compliance with sanctions.
Support for Dutch businesses
Supporting Dutch entrepreneurs remains a key part of the minister’s trade policy, for example through economic missions and assistance with international contract award procedures. The Netherlands has several grant and financing opportunities available for companies that want to do business internationally. Invest International and Atradius Dutch State Business also give entrepreneurs extra support to get high-risk projects abroad off the ground.
Linking aid, trade and investment
Finally, the government wants to link aid, trade and investment more firmly, as laid down in the policy letter on international development. The government is committed to working with Dutch companies in stable low- and middle-income countries. The focus is on areas where the Netherlands excels: food security, water management and health.
The EBA releases final technical package for its 4.1 reporting framework to support identification and assessment of crypto asset providers and the Pillar 3 data hub
Source: European Banking Authority
The European Banking Authority (EBA) today published the final technical package for version 4.1 of its reporting framework. This package will support the assessment and identification of significant crypto asset providers. It will also support the centralisation of institutions’ prudential disclosures in the EBA Pillar 3 data hub, which shall facilitate access and usability of this information to all users, including institutions. This framework will apply as of the second half of 2025.
The draft technical package provides the standard specifications which include the validation rules, the data point model (DPM) and the XBRL taxonomies to support the following reporting obligations:
- Pillar 3 templates included in the comprehensive Implementing Technical Standards (ITS) on Pillar 3 disclosures, for the purpose of the Pillar 3 data hub.
- Own initiative guidelines on reporting of data that competent authorities will need for the purpose of their supervisory tasks and for significance assessment (MiCAR reporting Guidelines).
- Integration of Instant Payments reporting ITS into DPM and taxonomy
- A series of validation rules have been added to the ESG ad-hoc data collection module.
Background and Next steps
A draft version of the technical package for the 4.1 reporting framework was published at the end of March 2025. The final version published today includes corrections and addresses the feedback provided from the revision of the draft technical package by various stakeholders.
In June 2024, the EBA published its plan for the implementation of DPM 2.0. The draft technical package for version 4.1 published today, continues the transition to DPM 2.0 and to the new glossary, as announced in June. This draft technical package includes a version of the data dictionary contents in both formats the DPM 1.0 and the new format DPM 2.0.
The FAQs published in December 2024 providing additional explanations on the transition to DPM 2.0 and a new glossary period remain a good source of information. In addition, the EBA is providing a presentation explaining the use of DPM-XL language for validation rules
Looking Back on King Willem-Alexander’s Visit to Expo 2025 Osaka
Source: Government of the Netherlands
On Wednesday, 21 May, and Thursday, 22 May, King Willem-Alexander of the Netherlands visited the World Expo in Osaka as part of his journey to Japan. Between 13 April and 13 October 2025, Expo 2025 Osaka, Kansai, Japan is expected to welcome no less than 28 million visitors. The Netherlands has its own pavilion at the Expo, which has already received many thousands of guests in its first month. The King’s visit marked the highlight of the Netherlands’ National Day at the Expo. He was accompanied by Minister Klever for Foreign Trade and Development and Minister Beljaarts of Economic Affairs, who are in Japan for an economic working visit and a trade mission focusing on high tech and digitalization.
National Day Celebrations
National Day at the Expo is a special occasion hosted by each participating country. On 21 May, it was the Netherlands’ turn, and the King traveled to Osaka for the event. After signing the guestbook and attending an official ceremony—featuring the Dutch national anthem and flag-raising—King Willem-Alexander delivered a welcome address. In his speech, he emphasized the long-standing relationship between Japan and the Netherlands. In addition to Expo, 2025 also marks 425 years of Dutch–Japanese relations.
Dance and Design on Display
To mark National Day, the King attended a dance performance in the National Day Hall on the Expo grounds. Dutch ensemble Introdans collaborated with the Japanese group LAND FES for the occasion. Choreographers Adriaan Luteijn and Dai Matsuoka are pioneers in inclusive dance, creating performances where professional dancers share the stage with dancers with disabilities. The King also visited the temporary exhibition Arts & Crafts on Common Ground, where Dutch designers and Japanese artisans collaborated to create works that fuse contemporary and traditional techniques.
Strengthening Economic Ties
As part of the economic mission, a roundtable was held at the Netherlands Pavilion with CEOs from Dutch and Japanese companies. The meeting was attended by the King and co-hosted by the Kansai Economic Federation and the Confederation of Netherlands Industry and Employers (VNO-NCW). The goal: to encourage economic cooperation between the Netherlands and the Kansai region in western Japan—particularly in the fields of natural sciences, healthcare, and chemistry.
Circular Pavilion
The King concluded the day with a visit to the rest of the Netherlands Pavilion. A day earlier (20 May), AND BV, the design and construction consortium behind the pavilion, reached an agreement with the Japanese multinational Pasona Group to purchase and repurpose the pavilion after the Expo. This was always the intention: the Dutch pavilion is a model of circular construction—each part is registered and can be dismantled and reused elsewhere without loss. The day also included visits to the Japanese and Czech pavilions.
425 Years of Shared History
Throughout May, Osaka Castle is spotlighting the long-standing relationship between Japan and the Netherlands. The exhibition A New Dawn on Common Ground: 425 Years of Exchange between Japan and the Netherlands features objects dating back to the year 1600. That year, the Dutch ship De Liefde arrived in Japan, carrying the first Dutchmen to make contact with the country. This meeting eventually led to an exclusive trading relationship that lasted more than 200 years. On the second day of his visit, the King visited this exhibition, which was organized by the Dutch Consulate in Osaka and features items from both Dutch and Japanese collections.
The Legacy of Rangaku
Later that day, 22 May, the royal delegation visited Tekijuku, one of the most important Dutch-language schools in Japan. Until well into the 19th century, Japanese students studied Dutch there to access Western books. The presence of the Dutch in Japan offered a rare window to the rest of the world. Through Rangaku (Dutch Studies), the latest knowledge in fields such as medicine was introduced to Japan. Today, Tekijuku is part of Osaka University, where last year a new medical cooperation agreement was signed between Japan and the Netherlands. The King also visited Nakanoshima Qross, a new hub for research into the future of healthcare.
Innovation and Future Collaboration
In the afternoon, King Willem-Alexander and Minister Klever joined the economic mission on high tech and digitalization, led by Minister Beljaarts. Around 70 Dutch companies were introduced to approximately 170 Japanese guests. Multiple partnership agreements were signed to promote cooperation in areas such as semiconductors, quantum computing, and 6G telecommunications. The day concluded with an Innovation Parade, where 19 Dutch and Japanese organizations presented their work to the King.
The EBA issues Opinion on a measure to address macroprudential risk following a notification by the Norwegian Ministry of Finance
Source: European Banking Authority
The European Banking Authority (EBA) today published an Opinion following a notification by the Norwegian Ministry of Finance of its intention to change the calibration of a measure originally introduced on 31 December 2020 and already extended until 30 June 2025. The measure aims to ensure that capital requirements of Norwegian institutions using internal ratings-based (IRB) approaches are appropriate for the systemic risks stemming from their residential real estate exposures. Based on the information provided, the EBA does not object to the measure.
The measure is an exposure-weighted average risk weight floor applying to retail exposures secured by immovable property located in Norway. The institutions in scope of the measure are all institutions established in Norway that use the Internal Ratings Based (IRB) approach for the calculation of capital requirements for the relevant exposures. The notified period of application is between 1 July 2025 until 31 December 2026.
In this Opinion, addressed to the Standing Committee of the EFTA States, the EFTA Surveillance Authority and the Norwegian Ministry of Finance, the EBA takes note of the financial stability risks stemming from high household debt and the build-up of financial imbalances in Norway. Against this background, the EBA invites the Ministry of Finance to closely monitor any overlaps of the proposed measure with microprudential requirements and other macroprudential measures already in force. In particular, the EBA points to unintended overlaps as the output floor requirements are phased-in and invites the Ministry to monitor closely and review the need for the proposed measure.
Legal basis and background
On 11 April 2025, the EBA received a notification from the Norwegian Ministry of Finance of its intention to apply Articles 458(2) and 458(9) of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms (Capital Requirements Regulation, CRR) as incorporated into Annex IX of the Agreement on the European Economic Area (EEA) by the EEA Joint Committee Decision No 79/2019. In accordance with the second subparagraph of Article 458(4) of the CRR as incorporated into Annex IX of the Agreement on the EEA, within one month of receiving the notification, the EBA shall provide its opinion to the Standing Committee of the EFTA States, the EFTA Surveillance Authority and the EFTA State concerned.
EBA publishes onboarding plan to implement the Pillar 3 data hub
Source: European Banking Authority
The European Banking Authority (EBA) today published an onboarding plan for large and other institutions, setting out the steps required for accessing and submitting information to the new Pillar 3 Data Hub (P3DH) – the EBA’s centralised platform for public disclosures under the Capital Requirements Regulation (CRR3).This initiative is a significant milestone in the EBA’s commitment to enhancing transparency and consistency in Pillar 3 disclosures across the EU financial system and promoting market discipline.
The onboarding plan outlines the procedural steps that institutions need to follow to ensure timely and accurate submissions of Pillar 3 information. The onboarding plan provides a step-by-step guide for the identification of institutions and to give them access to the EBA’s EUCLID Regulatory Reporting Platform, through which the Pillar 3 data will be submitted. It also spells out the timeline for the process, which will follow a phased-in approach.
In addition to the onboarding plan, the EBA is publishing a list of Frequently Asked Questions (FAQs) that aim to help institutions during the first implementation and data submission process. The FAQs will be a living document that will be updated by the EBA as needed.
Furthermore, the EBA is introducing a phased-in approach and transitional provisions that should give institutions time to prepare for the process. This means that institutions will be able to continue to fulfil their Pillar 3 disclosure obligations during 2025 as usual, and the submissions to the P3DH will occur only at a later stage. This approach will give institutions with enough time to complete the onboarding process and align their internal processes, without impacting the compliance with the CRR requirements.
By providing a single, centralised platform for Pillar 3 data, the EBA will support all interested users—including institutions—by significantly enhancing access and comparability of prudential information. For the first time, users will be able to explore and visualise disclosures across institutions and over time in a single public platform, making it easier for institutions to benchmark themselves against peers and fostering market discipline. This will not only strengthen the transparency of the EU banking sector but also promote the soundness and resilience of the broader financial system. The P3DH information will be available to the public from December 2025.
The EBA encourages all relevant institutions to familiarise themselves with the onboarding process and begin preparations for the P3DH implementation.
Legal basis, backgrounds and next steps
The new Banking Package (CRR3/CRD6), which will implement the latest Basel III reforms in the EU, includes a mandate to the EBA to develop a Pillar 3 data hub. The EBA’s plan on how to implement the mandates included in the Banking Package is explained in the ‘EBA Roadmap on strengthening the prudential framework’, published in December 2023.
The CRR establishes the prudential disclosure requirements and policies applicable to institutions, specifying the frequency and scope of these disclosures by type of institution, e.g. large institutions, small and non-complex institutions (SNCI) and other institutions The CRR3 (Articles 434 and 434a) mandates the EBA to publish on its website the prudential disclosures for all institutions subject to such requirements, making it readily available in a centralised manner to all the relevant stakeholders through a single electronic access point on its website. To comply with this mandate, the EBA is building a data hub putting together all the disclosures required under Part Eight of the CRR. As a first step the EBA has published also the final draft ITS on the Pillar 3 data hub for large and other institutions.