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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:
07/01/2025 - E674 - Transitional period for the provision of services in cryptocurrencies as defined in Article 143 (3) of Regulation (EU) 2023/1114 on Cryptocurrency Markets.
CySEC informs that according to Article 143, Paragraph 3 of the Regulation, “Cryptocurrency service providers that provided their services in accordance with the applicable legislation before 30 December 2024 may continue with the same practice until 1 July 2026 or until they obtain a license or not pursuant to Article 63, depending on which of the two dates is earlier.
10/01/2025 – C677 - Adoption of the EBA Guidelines EBA/GL/2024/04 on the resubmission of historical data under the EBA reporting framework.
CySEC informs the CIFMs that the European Securities and Markets Authority (‘ESMA’) has published the Guidelines on funds’ names using ESG or sustainability related terms on August 21, 2024, translated in all official languages of the EU.
21/01/2025 – C678 - Guidelines on funds’ names using ESG or sustainability-related terms
CySEC informs the CIFMs that the European Securities and Markets Authority (‘ESMA’) has published the Guidelines on funds’ names using ESG or sustainability related terms (ESMA34-1592494965-657) (the “Guidelines”) on August 21, 2024, translated in all official languages of the EU.
23/01/2025 – C679 - EBA public Consultation Paper on Draft Regulatory Technical Standards amending Commission Delegated Regulation (EU) 2018/1108, on the criteria for the appointment of central contact points for crypto-asset service providers to strengthen the fight against money-laundering and terrorism financing in host Member States
CySEC informs the Regulated Entities of the following: EBA launched a public consultation on draft Regulatory Technical Standards (‘RTS’) specifying the criteria according to which crypto-asset service providers (‘CASPs’) should appoint a central contact point to ensure compliance with local anti-money laundering and countering the financing of terrorism (AML/CFT) obligations of the host Member State. Button grey
02/01/2025 - Monetary Financial Institutions (MFIs) Deposits and Loans Statistics
CBC released the MFIs deposits and loans statistics for the reference month of November 2024, which are included in the December 2024 edition of the Monetary and Financial Statistics
07/01/2025 - Statistics on Interest Rates applied by Monetary Financial Institutions
CBC released the statistics on the average interest rates applied by monetary financial institutions 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 November 2024. These statistics are included in the December 2024 Monetary and Financial Statistics edition.
09/01/2025 - Central Bank of Cyprus: Acceptance of instant payments as of Thursday, 9 January 2025
CBC informs the public that as of 9 January 2025, it will be able to accept, on behalf of itself and its customers (certain government departments and agencies), instant payments from any payer account held with a bank in Cyprus or with a bank within the Single Euro Payments Area (SEPA).
14/01/2025 - Decision of the CBC to increase the countercyclical buffer rate from 1,0% to 1,5% effective as of 14 January 2026
CBC, in accordance with the provisions of the Macroprudential Oversight of Institutions Laws of 2015 to 2022, decided on 10 January 2025 to increase further the countercyclical buffer rate from 1,0% to 1,5% that will be effective as of 14 January 2026.
29/01/2025 - Monetary Financial Institutions (MFIs) Deposits and Loans Statistics
CBC released the MFIs deposits and loans statistics for the reference month of December 2024, which are included in the January 2025 edition of Monetary and Financial Statistics.
28/01/2025 - Decision ECB/2025/2 on access by non-bank payment service providers to Eurosystem central bank operated payment systems and central bank accounts
ECB informs that payment institutions and electronic money institutions (collectively referred to as non-bank payment service providers, or NB-PSPs) in the list of institutions eligible are subject to conditions to become participants in payment systems designated under that Directive.
31/01/2025 - ECB selects motifs for future euro banknotes
ECB selected motifs to illustrate the two possible themes for future euro banknotes. “European culture” focuses on shared cultural spaces and prominent Europeans. “Rivers and birds” focuses on the resilience and diversity of the natural world, complemented by European institutions.
31/01/25 - ECB and ESRB issue a joint report on experiences of using the countercyclical capital buffer early in the cycle.
ECB and ESRB published a joint report aimed at deepening our knowledge of the implementation of positive, neutral approaches to setting the CCyB in the European Economic Area (EEA).
09/01/2025 - EBA publishes its final Guidelines on the management of ESG risks
EBA published its final Guidelines on managing Environmental, Social and Governance (ESG) risks. The Guidelines set out requirements for institutions for the identification, measurement, management and monitoring of ESG risks, including through plans aimed at ensuring their resilience in the short, medium and long term.
16/01/2025 - EBA consults on Guidelines on ESG scenario analysis
EBA launched a public consultation on its Guidelines on Environmental, Social and Governance (ESG) scenario analysis draft. The draft Guidelines set out expectations for institutions when adopting forward-looking approaches and incorporating the use of scenario analysis as part of their management framework to test institutions’ financial and business model resilience to the negative impacts of ESG factors. They complement the EBA Guidelines on the management of ESG risks, published on 9 January this year. The consultation runs until 16 April 2025.
16/01/2025 - The EBA and ESMA analyse recent developments in crypto-assets
EBA and ESMA published a Joint Report on recent developments in crypto-assets, analysing decentralised finance (DeFi) and crypto lending, borrowing and staking. This publication is the EBA and ESMA’s contribution to the European Commission’s report to the European Parliament and Council under Article 142 of the Markets in Crypto-Assets Regulation (MiCAR).
No new announcements/circulars/directives for this month
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