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

ESMA publishes MICA public statement and final guidelines

The European Securities and Markets Authority (ESMA) has published Statement on Avoiding Misperceptions: Guidance for CryptoAsset Service Providers Offering Unregulated Services and Final Report Guidelines for the criteria on the assessment of knowledge and competence under the Markets in Cryptoassets Regulation (Regulation (EU) 2023/1114) (MiCA). The statement highlights risks associated with unregulated products offered by authorised cryptoasset service providers (CASPs), particularly the potential for a ‘halo effect’—where the presence of regulated services may lead investors to mistakenly assume that unregulated offerings benefit from the same level of regulatory protection. The final guidelines set out criteria for assessing the knowledge and competence of CASP staff who provide information or advice on cryptoassets and related services.

EBA consults on prudential framework for third-country branches

The European Banking Authority (EBA) has launched three consultations proposing new guidelines and regulatory measures for third-country branches (TCBs) operating in the EU. The proposals include draft guidelines on capital endowment instruments and two draft regulatory technical standards (RTS) on booking arrangements and supervisory cooperation. These measures are intended to implement provisions introduced under the Capital Requirements Directive 2013/36/EU, as amended by Capital Requirements Directive (EU) 2024/1619 (CRD VI). The final guidelines are expected to apply from 11 January 2027, following translation into the official EU languages and publication on the EBA website. Competent authorities will be required to notify the EBA whether they comply within two months of the publication. The RTS will be submitted to the European Commission by 10 January 2026 for endorsement and, once adopted, will be directly applicable across the EU. Responses to all three consultations are sought by 13 October 2025.

ESMA publishes amended cloud outsourcing guidelines following DORA implementation

The European Securities and Markets Authority (ESMA) has published amended guidelines on outsourcing to cloud service providers, narrowing their scope following the implementation of the Digital Operational Resilience Act (DORA) on 17 January 2025. DORA consolidates the EU legal framework on digital operational resilience and ICT third-party risk management. The revised guidelines now apply exclusively to certain depositaries under the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for Collective Investment in Transferable Securities (UCITS) Directive that fall outside DORA's remit. Specifically, this includes depositaries identified in Articles 21(3)(c) and 21(3) of AIFMD, and Article 23(2)(c) of the UCITS Directive, which are not subject to DORA.

Prudential transition plans under the Capital Requirements Directive

Ireland—Banking & Financial services analysis: This article was written by the Patrick Brandt and Jill Shaw of A&L Goodbody LLP and discusses the Capital Requirements Directive, as recently amended, introduces new obligations for the management bodies of EU credit institutions. They must now develop and oversee detailed plans to address financial risks linked to ESG factors..

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