Regnology Nexus Briefing | March 2026

17-Mar-2026: The European Banking Authority (EBA) published an updated list of its ITS validation rules for supervisory reporting, specifying which rules have been deactivated due to inaccuracies, reactivated, or had their severity status changed. A key technical update, effective with the reporting framework release 4.0, is that validation rules will now be embedded directly in both the data point model (DPM) and the XBRL taxonomy. This integration is designed to enhance consistency in how rules are implemented by institutions, improve the traceability of changes, and contribute to a more efficient and harmonized supervisory reporting process across the EU.

17-Mar-2026: The European Banking Authority (EBA) has launched public consultations on new draft guidelines and regulatory technical standards (RTS) for the authorization of initial margin models. This follows the introduction of EMIR 3, which requires firms to obtain prior approval from their competent authority to use internal models for non-cleared derivatives. The draft guidelines specify the information firms must submit in their applications, while the draft RTS details the assessment techniques regulators will use for firms with over €750 billion in non-cleared OTC derivatives. The consultation is open until 17 June 2026.

06-Mar-2026: The Banks’ Integrated Reporting Dictionary (BIRD) initiative has released version 6.7 of its Data Models and version 3.1 of the Transformation Rules. This significant update provides financial institutions with the latest logical data models (LDM/ELDM) and introduces new semantic and logical derivation rules for key reporting frameworks, such as AnaCredit and FINREP. Notably, the release highlights new BIRD API endpoints that enable users to easily retrieve transformation rules and their related logical lineage, enhancing transparency and usability for regulatory reporting processes.

05-Mar-2026: The European Banking Authority (EBA) has published its final draft implementing technical standards (ITS), which set out new harmonized supervisory reporting requirements for the EU branches of non-EU banks. The framework introduces uniform formats and definitions, requiring branches to submit data on both their own operations and their head office. A key feature is a proportionate "core + supplement" approach, where smaller branches submit a core set of data while larger branches provide additional details. Following a public consultation, the EBA has postponed the first reporting reference date for these new requirements to 31 March 2027.

02-Mar-2026: The European Banking Authority (EBA) published its final guidelines on the capital endowment requirement for third-country branches. The rules clarify that eligible capital instruments are limited to those with a 0% risk weight, such as assets issued or guaranteed by central banks and public sector entities. The guidelines establish minimum operational conditions to ensure these instruments are immediately available to protect local depositors and creditors within the EU. This action is designed to ensure assets can be used without restriction to absorb losses, particularly in the event of a branch's resolution or winding-up.

25-Feb-2026: The European Banking Authority (EBA) concluded its dedicated monitoring of legacy own funds instruments. This decision aligns with the EBA's long-standing expectation that these grandfathered instruments should be phased out to reduce complexity in the prudential framework. Citing extensive work already completed, including published opinions and regular monitoring, the EBA is confident that national competent authorities can now oversee the remaining specific cases. This shift aims to ensure a clear subordination ranking within institutions’ capital structures.

25-Feb-2026: The European Banking Authority (EBA) and European Securities and Markets Authority (ESMA) launched a joint consultation on revised guidelines for assessing the suitability of management body members and key function holders. The "Suitability Package" aims to harmonize assessments across the EU, incorporating new requirements from the revised Capital Requirements Directive (CRD). It introduces mandatory assessments for key roles, strengthens links to the anti-money laundering framework, and specifies documentation for large institutions. The consultation runs until 25 May 2026.

23-Feb-2026: The European Banking Authority (EBA) published a follow-up report on how competent authorities assess ICT risk under the supervisory review and evaluation process (SREP). The report finds notable progress since 2022, largely driven by the implementation of the Digital Operational Resilience Act (DORA). While authorities have enhanced their supervisory capacity and are using assessment tools more systematically, the EBA states that continued investment and work are necessary. The report encourages the full integration of ICT risk methodologies into all supervisory processes.

23-Feb-2026: The Single Resolution Board (SRB) published its updated operational guidance for banks on separability and transferability. The update, following a public consultation, is part of the SRB's focus on operationalizing resolution plans and enhancing crisis preparedness. While no new documents are required from banks, the guidance provides a clearer framework for existing work, including a structure for developing "transfer playbooks" and an annex on testing these capabilities. The guidance has also been simplified to be more proportional and is now aligned with resolvability self-assessment requirements.

16-Mar-2026: The Australian Prudential Regulation Authority (APRA) has announced it will consult on a package of reforms to its bank capital and liquidity rules. The proposals aim to uplift Australia's liquidity framework to align with international practice while making the capital framework more risk-sensitive, particularly for lending to infrastructure and unrated corporates. Key changes include a new Pillar 2 liquidity framework for large banks and a simplified implementation of the Fundamental Review of the Trading Book (FRTB). APRA has stated the reforms are intended to be broadly cost-neutral across the industry, with consultations beginning in the first half of this year. 

09-Mar-2026: The Hong Kong Monetary Authority (HKMA) has issued a circular requiring all authorized institutions to proactively review and adapt their long-term business models in response to accelerating digital transformation. Citing the rise of distributed ledger technology (DLT) and artificial intelligence, the HKMA expects institutions to move beyond simple adoption of new tech and fundamentally redefine their core strategies. Banks' boards of directors are now expected to endorse a formal strategic plan within six months, outlining how they will transform product offerings, revenue models, and operations. The circular also encourages firms to use the HKMA's Supervisory Incubator for DLT to test and validate new models. 

06-Mar-2026: The Monetary Authority of Singapore (MAS) has launched two significant consultations to modernize its risk management framework for financial institutions. The first paper proposes updated Guidelines on Operational Risk Management that reflect the increased risks posed by digitalization and cyber threats. Complementing this, the second paper introduces a comprehensive framework for Third-Party Risk Management, which will supersede the current outsourcing guidelines to cover all third-party relationships. A key proposal in the new third-party framework is the requirement for firms to maintain and submit to the MAS a register of all material third-party arrangements, aiming to enhance supervisory oversight in an increasingly interconnected environment. 

05-Mar-2026: The Monetary Authority of Singapore (MAS) has issued new guidelines outlining its supervisory expectations for banks, insurers, and asset managers regarding transition planning to address climate-related environmental risks. The guidelines require financial institutions to establish a forward-looking process to manage both the physical and transition risks arising from climate change. A key expectation is for institutions to actively engage with their customers and investee companies on their climate risks, aiming to support them rather than indiscriminately withdrawing credit or investment. The tailored guidelines will take effect in September 2027 after an 18-month transition period. 

05-Mar-2026: Hong Kong’s four main financial regulators (HKMA, SFC, IA, and MPFA) have jointly announced a significant expansion of the Generative A.I. Sandbox. Now called "GenA.I. Sandbox++", the initiative is open to firms across the banking, securities, insurance, mandatory provident fund (MPF), and stored value facility sectors. In partnership with Cyberport, the program will provide participants with complimentary access to high-performance GPU computing resources. A key part of the initiative encourages institutions to collaborate with their technology partners to translate business problems into practical A.I. use cases for testing in the sandbox. Regulators are inviting firms to apply for participation by 30 June 2026. 

02-Mar-2026: The Securities and Exchange Commission (SEC) of the Philippines has issued new guidelines establishing a regulatory framework for the issuance of Sukuk, or Shari'ah-compliant bonds. The move is designed to promote the development of the country's Islamic capital market and expand investment opportunities. The guidelines outline rules for registering public offerings, permissible structures, and detailed disclosure requirements to ensure transparency and investor protection. Under the new framework, issuers must appoint a Shari'ah advisor to certify compliance, and publicly offered Sukuk must be registered and obtain a credit rating. 

26-Feb-2026: APRA has detailed its plan to focus on major 'like-for-like' migrations, including EFS monthly and quarterly reports, and Market Risk. In 2027, Liquidity Reporting and non-EFS reports shall also be migrated, with D2A fully decommissioned by the end of the year. The supported formats at APRA Connect shall be XML and Excel. The submissions to the portal shall continue to be manual, and historical submissions from D2A shall not be migrated. 

26-Feb-2026: HKMA has a general discretion to grant or refuse authorization. Applicants must fulfil the minimum criteria outlined in the Seventh Schedule to the Ordinance, which are continuing in nature and are forward-looking. Key criteria include: Adequate home supervision for overseas banks, fitness and propriety of senior management, adequate financial resources (capital and liquidity), adequate control of large exposures, adequate provisions, adequate accounting systems and systems of control, as well as conducting business with integrity, prudence, and competence. Digital banks are subject to the same supervisory requirements as conventional banks, with adaptations for their business models.  HKMA in general employs a risk-based supervisory approach and the CAMEL system for ongoing supervision. 

The Bank of Thailand has strengthened oversight of cross-border foreign exchange transactions by requiring authorized banks to obtain supporting documentation for transactions equivalent to USD 200,000 or more when converting or depositing foreign currency received from overseas. The requirement aims to ensure that the source and purpose of funds are properly verified, improving transparency in cross-border capital flows. This move also signals BoT’s intent to enhance monitoring of FX transactions and aligns with its Phase 2 (FX and Derivatives) of the RDT initiative, which focuses on more granular supervisory data collection. 

Bank Negara Malaysia (BNM) is set to revolutionize its data collection framework with the upcoming Project STREAM initiative. This project will replace legacy form-based reporting with a modern system for submitting granular data via API. Based on a "Collect Once, Use Many" principle, the new process involves the daily submission of five specific CSV files into a centralized data lake. Although detailed technical specifications are still pending, BNM has formally notified banks to begin preparing for this shift. The initial phase will focus on collecting deposit data, which has been structured into 5 distinct data entities comprising 63 unique data points. The transition will be a phased, multi-year rollout expected to conclude by 2031. It should be noted that, as of now, no official documentation on this project has been published on BNM's public website.