Regulatory Matters
CECA carries out a permanent monitoring of the regulatory framework affecting its member credit institutions, with the aim of providing them with updated information and effectively representing their interests before the regulatory and supervisory authorities.
CECA covers all areas of banking regulation so that member institutions can anticipate regulatory changes with the greatest impact on their business model.
To this end, it carries out a identification of regulatory projects, both at the national and international levels, develops sectoral positions, actively participates in public consultation processes, and provides rigorous and continuous monitoring of the processing of the most impactful dossiers for its entities until their publication.
To defend the interests of member entities in European matters, CECA relies on the European Association of Cooperative Banks (ESBG).
News Highlighted Regulations
Markets
The CNMV published the public consultation of the draft Circular on disclosure, frequency, and trading volume requirements for the delisting of equity financial instruments. The consultation ends on October 19.
The draft Circular establishes the following criteria: (i) that the number of sessions in which trading of the financial instrument has occurred does not exceed 10% of the total sessions, and (ii) that the total trading volume does not exceed 100,000 euros during the entire period.
The first twelve-month period to determine if the requirements set out in the first standard are met will begin on January 1, 2027.
Sustainability
EFRAG published a consultation that includes the new XBRL Taxonomy for European Sustainability Reporting Standards (ESRS), with the aim of providing the necessary technical structure to digitalize the disclosures of the ESRS, and replace the taxonomy published by EFRAG in 2024. The consultation ends on November 11.
Accounting
The Bank of Spain submitted for public consultation the Draft Circular amending Accounting Circulars for credit institutions, financial credit institutions, payment entities, and electronic money entities, with the main objective of maintaining alignment with the international financial reporting standards adopted in the European Union (IFRS-EU), and continuing the process of simplification and rationalization of information.
Digital
The EBA published the final report of the Guidelines on third-party risk management related to services not related to information and communication technologies (ICT), which replace and extend the previous outsourcing Guidelines from 2019.
Broadly speaking, it includes the following aspects: (i) the concept of 'third-party arrangement', (ii) a special focus on services that support critical or important functions, a concept aligned with the definition used by DORA, (iii) obligations, such as the need for a specific strategy and policy for third-party risk management, (iv) reinforcement of the management body's role, and (v) special attention to concentration risk.
Various
The European Commission published the proposal for a Regulation on affordable housing (Affordable Housing Act), aimed at establishing a common framework so that measures adopted by the competent authorities can ensure the affordability and availability of housing in pressured areas. The legislative proposal includes two types of measures: (i) restrictions on access to short-term rental services in residential properties, and (ii) restrictions on the acquisition or use of residential properties not intended for habitual residence.
The main measures impacting the financial sector are: (i) the creation of the Saving and Investment Account Financia Europa (CAIFE) and Individual Long-Term Saving Insurance Financia Europa (SIALPFE), (ii) limitations on acquisitions of housing by entities dedicated to acquiring properties or portfolios of non-performing mortgage loans, and (iii) the development of the portfolio transfer regime.