ISDA

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This subtopic provides guidance on the International Swaps and Derivatives Association, Inc. (ISDA). It outlines the primary differences between the ISDA documentation governed by Irish law and that governed by English law. It examines the key provisions in the ISDA and sets out what credit support is and why parties enter into credit support agreements. It also contains a summary of new and updated documents published by ISDA since 2018.

This subtopic contains the following guidance:

  1. •

    Practice Note: Ireland—English law v Irish law governed ISDA documents—outlines

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Latest Ireland - Banking & Financial Services News

EIOPA launches consultation on revised supervisory review guidelines under Solvency II

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on draft revised Guidelines on the Supervisory Review Process. The primary objective of the revision is to clarify existing instructions in light of the Solvency II review and to bring emerging risks within scope. The proposed amendments aim to align the Guidelines with recent regulatory developments and supervisory best practices, while introducing new processes to address risks and trends that have emerged since the Guidelines were first adopted. The draft includes new sections on business model analysis, joint on-site inspections, early intervention measures, pre-emptive recovery planning, and supervision of conduct of business. EIOPA has also introduced guidance to ensure that supervisors incorporate sustainability risks, IT and cyber risks, and Supervisory Technology (SupTech) into their review processes. EIOPA says the amendments are targeted and limited, reflecting its commitment to regulatory simplification and burden reduction. Responses are sought by 24 September 2025.

ESMA publishes list of MiCA grandfathering periods adopted by Member States

The European Securities and Markets Authority (ESMA) has published an updated list detailing the grandfathering periods adopted by Member States under Article 143 of the Markets in Cryptoassets Regulation (Regulation) (EU) 2023/1114) (MiCA). These transitional measures allow cryptoasset service providers (CASPs) that were operating in accordance with applicable national law before 30 December 2024 to continue their activities temporarily—until 1 July 2026 or until they are granted or refused authorisation under Article 63 of MiCA, whichever comes first.

EU CRR: EBA launches consultation on amended Guidelines on application of the definition of default

The European Banking Authority (EBA) has launched a consultation on proposed amendments to its Guidelines on the application of the definition of default of the Capital Requirements Regulation (EU) No 575/2013 (EU CRR). The amendments follow the EBA’s mandate under Article 178(7) of the EU CRR, as revised by Regulation (EU) 2024/1623, and aim to ensure institutions retain sufficient flexibility while maintaining robust risk management standards. Responses are sought by 15 October 2025, with a public hearing scheduled for 3 September 2025 (registration deadline: 29 August 2025).

SRB updates solvent wind-down guidance of trading books

The Single Resolution Board (SRB) has published updated operational guidance for banks on solvent wind-down (SWD) planning. The revised guidance replaces the 2021 version and sets out expectations for planning and executing the orderly wind-down of trading activities, with the aim of supporting resolvability and minimising risks to financial stability. The updated guidance outlines the scope and key elements of SWD planning, including the development and maintenance of capabilities to implement a SWD plan within a reasonable timeframe. It distinguishes between the SWD plan—covering trading activities, dependencies and complexity—and the SWD playbook, which focuses on operational procedures. This separation is intended to support a more proportionate and flexible application based on a bank’s risk profile.

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