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We researched and summarised for you, all recent regulatory updates from Cyprus and Europe, which are applicable for Regulated Companies operating in the Region.
We support our clients and associates by providing a comprehensive page with the recent circulars, directives, and guidance issued by the following Regulators:
05/02/2025 – C681 Risk-Based Supervision Framework (the ‘RBS-F’) – Electronic submission of information for the year 2024 (Form RBSF-CBR)
CySEC informs the Branches of Investment Firms that are established in Cyprus, which are authorised by the National Conduct Authority of a Member State other than Cyprus and which are operating in Cyprus, about a new version of the Form RBSF-CBR (the ‘Form’), Version 2, found in the Appendix, is now issued and its scope is the collection of various statistical information. This Form is issued on an annual basis. CySEC will use this information to conduct statistical analyses, risk management and other purposes.
12/02/2025 – C682 Risk-Based Supervision Framework (the ‘RBS-F’) – Electronic submission of information for the year 2024 (Form RBSF-CASP)
CySEC informs Crypto Asset Services Providers (CASPs) registered with CySEC, providing services in or from Cyprus, about a new version of the Form RBSF-CASP (the ‘Form’), Version 2, found in the Appendix, which is now issued, and its scope is the collection of various statistical information. This Form is issued on an annual basis. CySEC will use this information to conduct statistical analysis, risk management and other purposes.
13/02/2025 – C683 Sustainability-related obligations of CIFs
CySEC issued this circular to outline the sustainability-related obligations of Cyprus Investment Firms (‘CIFs’) as defined under European and national legislative acts. These obligations align with the goals of the European Green Deal1, fostering a greener and more sustainable economy. The financial sector’s role is critical in achieving these objectives, and sustainable finance has emerged as a key EU priority with harmonized rules applicable across member states.
03/02/2025 - Payment Statistics
CBC has released the second statistical report on Payment Statistics, which provides an overview of the main developments in non-cash payment services used in Cyprus, as well as useful information on the public's usage of payment cards and terminals. Non-cash payments are broken down by payment service in the following categories:
(a) credit transfers,
(b) direct debits,
(c) card payments,
(d) e-money payments,
(e) cheques, and
(f) money remittances.
Information is collected from all Cyprus resident payment service providers (PSPs), i.e. Credit Institutions, E-Money Institutions and Payment Institutions.
04/02/2025 - Statistics on Interest Rates applied by Monetary Financial Institutions
CBC released the statistics on the average interest rates1 applied by monetary financial institutions (MFIs) in Cyprus on deposits and loans of euro area residents in euro, as well as data regarding volumes (amounts) of new euro-denominated loans to euro area residents for the reference month of December 2024.
05/02/2025 - Bank Lending Survey - October 2024
The Bank Lending Survey is a qualitative survey of bank lending in the euro area. Its main objective is to improve the Eurosystem's knowledge of financing conditions in the euro area. The survey is based on a representative sample of euro area banks and covers a broad range of topics relating to loans to enterprises and households. The questionnaire for the survey is undertaken on a quarterly basis, and the national results are published by the CBC, soon after the publication of the euro area results by the ECB.
07/02/2025 - CBC urges caution on crypto-assets investments
CBC, with the aim to safeguard financial stability and support consumer protection, urges caution regarding investments in crypto-assets. Crypto-assets exist in various forms, including those intended for payments, investments, and access to goods or services. In the European Union, introducing the Regulation on markets in crypto-assets (MiCA) seeks to enhance transparency and establish a robust framework for crypto-assets-related activities, mitigating some, but not all, risks associated with crypto-assets. Meanwhile, blockchain technology continues to evolve, offering promising applications in payment systems and the development of central bank digital currencies (CBDCs).
12/02/2025 - Interest rate data for deposits and loans for each credit institution (Available in GR)
To further enhance transparency, from July 2024 onwards, CBC has published detailed interest rate data for deposits and loans for each credit institution.
19/02/2025 - Investment Funds Statistics
CBC released the Investment Funds statistics for the reference month of December 2024.
21/02/2025 - Aggregate Cyprus banking sector data (non-performing loans data) with reference date 31 October 2024
CBC published updated aggregate Cyprus banking sector data (non-performing loans data) with reference date 31 October 2024.
27/02/2025 - Monetary Financial Institutions (MFIs) Deposits and Loans Statistics
CBC released the MFIs' deposits and loans statistics for the reference month of January 2025, which are included in the February 2025 edition of Monetary and Financial Statistics.
20/02/2025 - Eurosystem expands initiative to settle DLT-based transactions in central bank money
ECB decided to expand its initiative to settle transactions recorded on distributed ledger technology (DLT) in central bank money.
21/02/2025 - ECB announces changes to use of external ratings for private sector assets in Eurosystem collateral framework
ECB decided to change the rules on the use of credit ratings issued by external credit assessment institutions (ECAIs) to assess the eligibility of private sector assets for use as collateral under the Eurosystem collateral framework and to determine the haircuts to be applied to those assets.
04/02/2025 - EBA publishes its draft final technical standards on reporting of data on charges for credit transfers and payment accounts, and shares of rejected transactions
EBA published its final draft, Implementing Technical Standards (ITS), on reporting data on charges for credit transfers and payment accounts and shares of rejected transactions. The ITS deliver on the mandate in the Instant Payment Regulation (IPR), amending the SEPA Regulation, and aims at standardising reporting from banks, payment institutions and e-money institutions (i.e. Payment Service Providers - PSPs) to their National Competent Authorities. Following its public consultation, the EBA postponed the first harmonised reporting from PSPs by 12 months, from April 2025 to April 2026.
05/02/2025 - EBA issues an Opinion in response to the European Commission’s proposed amendments to the EBA draft technical standards on conflicts of interests for issuers of asset-referenced tokens
EBA published an Opinion on the amendments proposed by the European Commission (EC) to the EBA draft Regulatory Technical Standards (RTS) on conflicts of interests for issuers of asset-referenced tokens. EBA agrees with the substantive changes proposed by the EC, which favour proportionality, as well as with the other amendments which are considered non-substantive.
06/02/2025 - Reviewed supervisors overall applied the EBA’s recommendations on tax integrity and dividend arbitrage trading schemes, the EBA Report finds.
EBA published a Peer Review assessing the effectiveness and degree of supervisory convergence of issues relating to tax integrity and dividend arbitrage trading schemes following the implementation of its 2020 Action Plan on dividend arbitrage trading schemes. The action plan aimed to clarify that supervisors, while not responsible for investigating tax crimes, must ensure that financial institutions have systems and controls in place to manage tax crime risks.
11/02/2025 - EBA amends its Guidelines on ICT and security risk management measures in the context of DORA application
EBA narrowed down the scope of its existing Guidelines on ICT and security risk management measures, due to the application of harmonised ICT risk management requirements under the Digital Operational Resilience Act (DORA) from 17 January 2025. These amendments aim to simplify the ICT risk management framework and provide legal clarity to the market.
12/02/2025 - EBA publishes its final draft technical standards to implement a centralised EBA Pillar 3 data hub
EBA published its final draft Implementing Technical Standards (ITS) on the Pillar 3 data hub for large and other institutions, which will centralise prudential disclosures by institutions through a single electronic access point on the EBA website. This project is part of the Banking Package laid down in the Capital Requirements Regulation (CRR3) and Capital Requirements Directive (CRD6).
18/02/2025 - ESAs provide a roadmap towards the designation of CTPPs under DORA EBA, EIOPA and ESMA
ESAs are advancing in implementing the pan-European oversight framework of critical ICT third-party service providers (CTPPs) to designate the CTPPs and to start the oversight engagement this year.
25/02/2025 - EBA consults to amend data collection for the 2026 benchmarking exercise
EBA launched a consultation to amend the Implementing Regulation on the benchmarking of credit risk, market risk and IFRS9 models for the 2026 exercise. The most significant changes, in the market risk framework, are the new templates for the collection of the alternative internal model approach (AIMA) risk measures under the fundamental review of the trading book (FRTB) and the extension of the scope of the exercise to banks that apply solely the Alternative Standardised Approach (ASA) methodology. For the credit risk framework, only minor changes are being proposed. This consultation runs until 26 May 2025.
27/02/2025 - EBA responds to the European Commission’s partial rejection of its technical standards on authorisation for issuers of asset-referenced tokens
EBA issued an Opinion in response to the European Commission’s proposed changes to its draft Regulatory Technical Standards (RTS) on the information to be provided to competent authorities when authorising the offer to the public of asset-referenced tokens or the admission to trade them under the Markets in Crypto-Assets Regulation (MiCAR).
13/02/2025 - Geopolitical and macroeconomic developments driving market uncertainty
ESMA, published its first risk monitoring report of 2025, setting out the key risk drivers currently facing EU financial markets. ESMA finds that overall risks in EU securities markets are high, and market participants should be wary of potential market corrections.
17/02/2025 - Consultation Paper on the Guidelines for the criteria on the assessment of knowledge and competence under the Markets in Crypto Assets Regulation (MiCA)
ESMA is empowered to develop technical standards and guidelines specifying certain provisions. ESMA prepared this Consultation Paper (CP) to consult interested parties to produce guidelines for the assessment of knowledge and competence of natural persons advising on cryptoassets or information about crypto-assets or crypto-asset services, on behalf of crypto-asset service providers.
18/02/2025 - Consultation Paper on the Guidelines on supplements which introduce new securities to a base prospectus
ESMA developed Guidelines to specify the circumstances in which a supplement is to be considered to introduce a new type of security that is not already described in a base prospectus. These Guidelines are necessary to align EU-wide supervision on this subject, which has been characterised by longstanding divergence and can lead to different supervisory outcomes. This situation is recognised in Recital 543 of the Listing Act, therefore ESMA is proposing these draft Guidelines to address it.
24/02/2025 - Guidelines on stress test scenarios under the MMF Regulation
The Guidelines apply to competent authorities, money market funds and managers of money market funds as defined in the MMF Regulation 1.
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