The European Banking Authority (EBA) has repealed its guidelines on the specification of types of exposures to be associated with high-risk. The repeal responds to the updated capital requirement framework set out in Regulation (EU) 2024/1623 and Directive (EU) 2024/1619, collectively known as the CRR 3 mandate. Under this framework, Article 128 no longer identifies a distinct high risk exposure category but exclusively refers to subordinated debt exposures. Originally published on 15 March 2019 under previous regulatory provisions, the Guidelines are now considered inapplicable, with the measure contributing to legal certainty within the market.

EU Law analysis: The European Banking Authority (EBA) is consulting on draft guidelines on acquisition, development and construction (ADC) exposures to residential property under the standardised approach to credit risk. Responses are sought by 19 August 2024.

The European Banking Authority (EBA) has launched a consultation on proposed amended disclosure requirements as part of the updated Pillar 3 framework under Regulation (EU) 2024/1623 of the European Parliament and of the Council amending Regulation (EU) No 575/2013 (CRR3). The consultation addresses environmental, social, and governance (ESG) risks, equity exposures, and aggregate exposure to shadow banking entities. Responses to the consultation are sought by 22 August 2025, and a public hearing is scheduled for 26 June 2025, with registration closing on 24 June 2025.

The European Banking Authority (EBA) has published an onboarding plan to implement the Pillar 3 Data Hub, a centralised platform for public disclosures under Regulation (EU) 2024/1623 of the European Parliament and of the Council amending Regulation (EU) 575/2013 (CRR3). The plan outlines the steps for large and other institutions to access and submit their Pillar 3 information using the European Centralised Infrastructure of Data (EUCLID) regulatory reporting platform. The phased approach allows institutions to update their internal processes while continuing their disclosure requirements throughout 2025, with final submissions scheduled for a later stage. Public access to the disclosed information through the Pillar 3 Data Hub is scheduled to commence in December 2025.

The European Commission has launched a targeted consultation on draft guidance concerning the prudential treatment of equity exposures incurred by banks under legislative programmes in the Capital Requirements Regulation (Regulation (EU) 575/2013) (CRR). The draft Communication sets out how banks may apply more favourable capital treatment to equity investments made under qualifying public programmes and clarifies the conditions under which such exposures would be eligible, including the presence of significant public subsidies or guarantees, and oversight by public authorities. The consultation forms part of the EU’s broader strategy to mobilise private funding for strategic sectors and ensure consistent application of CRR rules across the single market. Responses are sought by 8 September 2025.

The European Commission has published a proposal to amend the Capital Requirements Regulation (EU) 575/2013 (CRR) to make the current transitional approach to the net stable funding ratio (NSFR) permanent. This aims to ensure banks have stable funding sources and reduce dependency on short-term wholesale funding. The proposal focuses on securities financing transactions (SFTs) and short-term unsecured transactions, maintaining their current treatment to avoid market disruptions and ensure consistency with other jurisdictions. The Commission also proposes mandating the European Banking Authority (EBA) to monitor and report every five years on the appropriateness of the treatment, particularly its impact on the market liquidity of assets received as collateral in SFTs.

HM Treasury (HMT) has published a policy paper on its treatment of overseas investment exchanges for the purposes of the Capital Requirements Regulation (CRR). In 2022 HMT consulted on the prudential treatment of overseas exchanges and proposed linking the definition of ‘recognised exchanges’ in the CRR to the recognised overseas investment exchange (ROIE) regime. Having considered the feedback received through its consultation, HMT is adding a link to the ROIEs regime as initially proposed.

This Practice Note outlines the requirements to report a claim to the Compensation Recovery Unit (CRU) and the procedures followed when applying for a CRU certificate, requesting a review, mandatory reconsideration and appeal of a CRU certificate detailing recoverable benefits and lump sum payments. Separate legislation covers the recovery of NHS charges. For guidance on requesting and challenging a certificate of NHS charges, see Practice Note: Recovery of NHS charges. Recovery of social security benefits A claimant will often receive state benefits as a result of their accident, injury or disease. The Department for Work and Pensions (DWP) operates a system for recovering these benefits from the compensator (either the defendant or, in most cases, the defendant’s insurers) via the Compensation Recovery Unit (CRU). For further information, see Practice Note: Recovery of social security benefits. Reporting requirements The CRU operates an online system which allows compensators and their representatives to: • register a claim • request a CRU certificate • notify the CRU of claim settlement • make any relevant payments

securities-depositaries'>Central Securities Depositaries—these are clearing and settlement systems for domestic market securities. CSDs usually trade all types of securities in their domestic market. The CSDs usually maintain settlement and trading links with the ICSDs. Some of the major CSDs are the United States’ DTC, Switzerland’s SIS/SEGA Intersettle, Italy’s Monte Titoli or Spain’s Iberclear.

The Competence Steering Group (CSG) has published a report, ‘A Higher Bar - Achieving a Competence-led Built Environment’. The report introduces new standards and frameworks across the built environment and fire sectors, urging companies and individuals to adopt new competencies, practices and measures to raise safety standards.

Construction Safety Justification

Consejo de Seguridad Nuclear (Nuclear Safety Council): The sole authority'>competent authority in matters relating to nuclear safety and radiological protection in Spain. The Mission of the Nuclear Safety Council is to protect the workers, the public and the environment against the harmful effects of ionising radiation, by assuring the safe operation of nuclear and radioactive facilities and by establishing preventive and corrective measures against radiological emergencies, whatever their origin.