Your global update across regulatory, risk, tax, and finance reporting
The global regulatory landscape is decisively shifting from design to delivery. In Europe, the ECB is moving its IReF project into the realisation phase while the EBA is consulting on major supervisory reporting simplification. The Bank of England is enhancing its resolution framework, the U.S. agencies have finalized rules to provide community banks with more flexibility, and authorities in APAC, including the HKMA, are continuing to strengthen capital and stress-testing requirements.
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07 May 2026: The European Banking Authority (EBA) launched a public consultation on proposed amendments to the Regulatory Technical Standards (RTS) for assigning risk weights to specialized lending exposures. The proposed changes aim to align the RTS with the new Capital Requirements Regulation (CRR3) and provide more clarity on the supervisory slotting approach for exposures. The consultation is open until 7 August 2026.
07 May 2026: EBA published its final report amending the guidelines on the application of the definition of default. The update introduces two key changes: it extends the specific past-due treatment for individual invoices under non-recourse factoring from 30 to 90 days to better reflect operational realities and reduce incorrect default classifications, and, the report confirms that the existing 1% Net Present Value (NPV) threshold for recognizing default in debt restructurings remains appropriate, concluding that it is sufficiently flexible, risk-sensitive, and crucial for maintaining efforts to reduce non-performing loans.
04 May 2026: The European Central Bank (ECB) announced that its Governing Council has decided to move the Integrated Reporting Framework (IReF) and the Analytics and Data projects from the investigation phase into the realisation phase. This decision greenlights the next stage of work on the projects, which aim to streamline statistical reporting for banks. The ECB expects to publish a full implementation plan, including key project milestones, by June 2026.
04 May 2026: The Single Resolution Board (SRB) published its bi-annual reporting note to the Eurogroup, providing an update on the resolvability of banks under its remit. The note confirms that all banks have met their MREL targets, enhancing their capacity to absorb losses. The SRB is now shifting its focus from assessing the building blocks of resolvability to testing whether banks are resolvable in practice, supported by new guidance on self-assessments and a multi-year testing program. The report also touches on the links between financial stability, competitiveness, operational resilience, and emerging risks.
29 April 2026: EBA announced the partial deletion of its Guidelines on connected clients following the entry into force of a new Commission Delegated Regulation. This decision ensures a consistent, aligned framework for credit institutions to identify groups of connected clients across the EU, as the new regulation provides directly applicable, binding technical standards. The consolidated guidelines are available on the EBA's website.
28 April 2026: EBA published an update to the list of correlated currencies. The list is used for (amongst others) the calculation of capital requirements for foreign exchange risk under the standardized approach. The proposed amendments have been sent to the European Commission for endorsement.
20 April 2026: SRB issued a statement welcoming the publication of the Crisis Management and Deposit Insurance (CMDI) reform in the Official Journal of the EU. The SRB noted that this is a significant step towards completing the Banking Union and will enhance the resolvability of banks and the protection of depositors.
17 April 2026: The European Securities and Markets Authority (ESMA) issued a statement clarifying its supervisory expectations for the end of the transitional period for the Markets in Crypto-Assets (MiCA) Regulation on 1 July 2026. ESMA expects any entity providing crypto-asset services to EU clients to be fully licensed by this date. The statement outlines requirements for orderly wind-down plans for unauthorized firms and emphasizes that authorized firms must manage client migration while adhering to all relevant EU conduct and AML/CFT obligations.
16 April 2026: EBA invited feedback on the draft technical package for version 4.3 of its reporting framework. This package introduces new reporting requirements for anti-money laundering (AML) and third-country branches (TCB). The release includes the Data Point Model (DPM), XBRL taxonomies, and validation rules to help firms prepare for the changes. The consultation is open until 10 May 2026, with the final package expected in June 2026.
15 April 2026: The SRB published its response to the European Commission's consultation on the competitiveness of the EU banking sector. The SRB highlighted that while the Banking Union has enhanced resilience, its incomplete nature hinders cross-border integration. The SRB called for a more integrated European deposit protection framework and a more predictable approach to liquidity in resolution to support both market integration and the international competitiveness of EU banks.
10 April 2026: The European Banking Authority (EBA) launched a public consultation on a comprehensive package of changes to the ITS on supervisory reporting and supervisory benchmarking. The initiative is part of the EBA’s broader “efficient reporting: simpler, smarter, proportionate” programme and aims to significantly reduce reporting burden while maintaining high-quality supervisory data.
The proposals include:
The first public hearing was held on 5 May 2026, focusing on the proposed changes to supervisory reporting and the integration of new requirements, including IFRS 18, ESG reporting, and FRTB-related changes into the reporting framework.
The proposed changes are expected to apply from September 2027, following the consultation and implementation phase. Feedback on the consultation can be submitted until 10 July 2026, while comments related to IFRS 18 changes are requested by 10 May 2026.
10 April 2026: EBA published a decision to harmonize how National Competent Authorities (NCAs) report data under the SEPA Regulation. The decision establishes a single reporting channel through the EBA, which will then make the data available to the European Commission. This change is intended to reduce the administrative burden on NCAs and improve the consistency of data used to monitor the cost and accessibility of instant credit transfers across the EU.
22 April 2026: The UK PRA released a Policy Statement finalizing the first phase of its reforms to the Senior Managers and Certification Regime (SM&CR). The targeted changes aim to streamline the regime and reduce administrative burdens. Key updates include providing more flexibility for firms to cover temporary Senior Management Function vacancies under the '12-week rule', clarifying the scope of the Group Entity Senior Manager role, and simplifying requirements for regulatory references and criminal record checks.
17 April 2026: Bank of England published its Business Plan for 2026/27, detailing its strategic priorities for the coming year. Key focus areas include maintaining the safety and soundness of the financial sector through the implementation of Basel 3.1 and the "Strong and Simple" framework, ring fencing review and modernizing liquidity framework. The PRA will also continue to monitor emerging risks from geopolitical trends, support responsible AI adoption, and scrutinize novel outsourcing arrangements. Additionally, the plan emphasizes the PRA's commitment to supporting competitive and dynamic markets by streamlining regulatory reporting and providing tailored support for innovative firms.
15 April 2026: The Financial Conduct Authority (FCA) has published a consultation paper proposing guidance to clarify when cryptoassets fall within the financial services’ regulatory perimeter. The guidance aims to provide greater certainty to firms on whether their activities require FCA authorization by clarifying how existing rules apply to different types of cryptoassets. It helps determine whether a cryptoasset qualifies as a 'specified investment', which would bring related activities, such as dealing, arranging, or advising on these assets, under the FCA's remit. The FCA is seeking feedback on the proposed guidance until 3 June 2026.
13 April 2026: The PRA published updated operational guides on its resolution regime. These guides provide greater clarity on how the Bank would manage a firm's failure through bail-in or transfer, further strengthening the UK's financial stability framework. The Bank also obtained a No-Action Letter from the US Securities and Exchange Commission (SEC). This letter confirms that the bail-in process can be applied across borders, providing extra security.
23 April 2026: The federal bank regulatory agencies jointly finalized a rule to modify the community bank leverage ratio consistent with existing statutory authority. The final rule is being adopted without change from the proposal issued in November 2025. The rule will lower the community bank leverage ratio from 9% to 8%, providing more flexibility for community banks to opt into the framework. The final rule also extends the grace period from two quarters to four quarters for a community bank that temporarily falls out of compliance. The framework continues to simplify regulatory capital requirements for community banks by allowing them to adopt a relatively simple leverage ratio to measure capital adequacy, rather than calculating and reporting risk-based capital ratios.
17 April 2026: The OCC, FRB, and FDIC, issued updated guidance on model risk management. The new guidance clarifies that model risk management practices should be risk-based and tailored to an institution's size, complexity, and extent of model use. The update rescinds several prior issuances) and explicitly states that generative and agentic AI models are out of its current scope. The agencies plan to issue a request for information on the use of AI in the near future.
FDIC - Press Release; FRB - Supervisory Letter; OCC - News Release
05 May 2026: The Australian Prudential Regulation Authority (APRA) revised Frequently Asked Questions (FAQs) for Prudential Standard APS 221 Large Exposures. The updated guidance provides additional clarity for authorised deposit-taking institutions (ADIs) on the application of the standard, covering topics such as how exposures to structured vehicles should be calculated and reported using the value look-through methodology. The FAQs are designed to support ADIs in complying with the large exposure limits and reporting requirements.
30 April 2026: The HKMA issued a letter to consult the banking industry on proposed amendments to the Banking (Capital) Rules. The consultation closes on 1 June 2026.
30 April 2026: APRA has called on banks, insurers, and superannuation funds to make a "step-change" in their risk management and governance of artificial intelligence (AI). In a letter to all regulated entities, APRA warned that AI risk management practices need to be more effective given its widespread use by businesses in daily operations. The regulator expects boards to be accountable for the oversight of AI strategy, implement robust risk management frameworks, and manage the full lifecycle of AI systems, including development and reporting.
30 April 2026: The Monetary Authority of Singapore (MAS) has finalized amendments to the Securities and Futures Act to enable the Global Listing Board (GLB) to support seamless dual listings (e.g., SGX–Nasdaq). The changes reduce regulatory friction through a single prospectus, aligned IPO timelines, and safe harbor provisions, while maintaining investor protection. This strengthens Singapore’s position as a globally competitive listing hub with enhanced cross-border capital access.
27 April 2026: The Reserve Bank of India (RBI) has issued the final Directions on calculating the capital charge for credit risk under the standardized approach. These directions, following a consultation on a draft released in October 2025, aim to enhance the robustness, granularity, and risk sensitivity of the credit risk framework. The new rules, which align with international Basel III standards, will be effective from 1 April 2027.
13 April 2026: The Hong Kong Monetary Authority (HKMA) issued a revised version of its Supervisory Policy Manual (SPM) module IC-5 on "Stress-testing". The update aligns the guidance with the stress testing principles published by the Basel Committee on Banking Supervision and incorporates other good industry and regulatory practices. The revised module aims to ensure that authorized institutions have robust, comprehensive stress-testing frameworks to assess their capital adequacy and resilience under a range of severe but plausible scenarios.
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