Key resources for in-house banking & financial services lawyers

This overview is a guide to the Irish banking & finance content within the Key resources for banking & financial services in-house lawyers subtopic, with links to appropriate materials. It is written for lawyers working in-house in banks and other financial institutions.

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Latest Ireland - Banking & Financial Services News

EIOPA consults on rules for resolution colleges and reporting requirements under IRRD

The European Insurance and Occupational Pensions Authority (EIOPA) has launched two consultations on draft technical standards under the Insurance Recovery and Resolution Directive (Directive (EU) 2024/2979) (IRRD), which is expected to become operational in 2027. The first consultation concerns draft regulatory technical standards (RTS) on the establishment and functioning of resolution colleges, which will coordinate resolution planning and execution for insurance groups. The second covers draft implementing technical standards (ITS) specifying procedures and standardised templates for insurers to submit information to resolution authorities for the preparation of resolution plans. Responses to the consultations are sought by 31 October 2025.

General Court of the EU upholds Credit Suisse’s role in FOREX cartel but reduces fine

The General Court of the EU has upheld the European Commission’s finding that Credit Suisse participated in an anticompetitive agreement in the G10 FOREX spot-trading sector but has reduced the fine imposed from €83.2m to €28.9m. The judgment in Case T-84/22, follows an action brought by UBS Group AG, UBS AG and Credit Suisse Securities (Europe) Ltd, successors in law to Credit Suisse Group AG and Credit Suisse AG, seeking annulment or reduction of the Commission’s 2021 decision. The Commission had found that traders from five banks—Credit Suisse, Barclays, HSBC, RBS and UBS—exchanged sensitive information in a professional online chatroom called ‘Sterling Lads’ between 2011 and 2012, enabling informed trading decisions and distorting competition in the sector.

European Commission publishes report on EU cash control

The European Commission has published its first report on the application of the EU Regulation on Cash Controls (Regulation (EU) 2018/1672), which lays down rules on controls of cash entering or leaving the Union. The regulation, fully applicable since 3 June 2021, aims to protect the EU against money laundering and terrorist financing by requiring declarations for cash movements of €10,000 or more at external borders. The report, submitted to the European Parliament and the Council pursuant to Article 19, covers the period from 3 June 2021 to 2 June 2024 and presents feedback gathered from Member States, customs authorities and Financial Intelligence Units (FIUs). It concludes that the regulation is functioning effectively and does not require amendment at this stage. The Commission also confirms that the current threshold and scope remain appropriate.

EIOPA publishes statement with findings on climate risk integration in insurers’ ORSAs

The European Insurance and Occupational Pensions Authority (EIOPA) has published a statement on the findings of a monitoring exercise examining how (re)insurers in Europe are integrating climate change-related risks into their Own Risk and Solvency Assessment (ORSA). The results indicate that most insurers now include climate change risk assessments in their ORSAs, covering both physical and transition risks, and are increasingly using scenario analysis to assess potential financial impacts. In several cases, these assessments are linked to defined management actions and considered in strategic decision-making. The exercise also identified challenges such as variations in approaches across jurisdictions, limited availability of high-quality and granular data, and difficulties in extending the time horizon of analyses. EIOPA stated that supervisory practices are evolving and vary in maturity, and it remains committed to supporting convergence and capacity building in this area.

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