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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:
10/03/2025 – C686 Financial Action Task Force’s Public Consultation on Complex
CySEC published a Circular to inform the Regulated Entities that the Financial Action Task Force (the ‘FATF’) launched a public consultation on the Complex Proliferation Financing and Sanctions Evasion Schemes project.
10/03/2025 – C687 EBA’s Public Consultation Paper on Proposed Regulatory Technical Standards in the context of the EBA’s response to the European Commission’s Call for advice on new AMLA mandates
CySEC informs the Regulated Entities about EBA public consultation on four draft Regulatory Technical Standards (the ‘RTS’) that will be part of the EBA’s response to the European Commission’s Call for Advice. These technical standards will be central to the EU’s new AML/CFT regime and will shape how institutions and supervisors will comply with their AML/CFT obligations under the new AML/CFT package.
11/03/2025 – C688 ESMA launches a Common Supervisory Action (‘CSA’) with NCAs on Compliance and Internal Audit Functions
CySEC informs CyIFMs that ESMA has launched the 2025 Compliance and Internal Audit Functions CSA with national competent authorities (NCAs), on compliance and internal audit functions of UCITS
management companies and Alternative Investment Fund Managers (AIFMs) across the EU.
19/03/2025 – C689 Adoption of EBA Guidelines on benchmarking of diversity practices, including diversity policies and gender pay gap under Directive 2013/36/EU and Directive (EU) 2019/2034 (EBA/GL/2023/08)
CySEC brings to the attention of the CIFs the EBA Guidelines on benchmarking of diversity practices, including diversity policies and gender pay gap (the “Guidelines on benchmarking of diversity practices”), which were issued on December 18, 2023, and entered into force on June 27, 2024.
05/03/2025 - Statistics on Interest Rates applied by Monetary Financial Institutions
CBC released statistics on the average interest rates applied by monetary financial institutions (MFIs) in Cyprus on deposits and loans of euro area residents in euros, as well as data regarding volumes (amounts) of new euro-denominated loans to euro area residents for the reference month of January 2025.
06/03/2025 - Bank Lending Survey - January 2025
CBC published the Bank Lending Survey (BLS) for the fourth quarter of 2024 (Greek only).
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 various topics relating to loans to enterprises and households.
06/03/3035 - Aggregate Cyprus banking sector data (non-performing loans data) with reference date 30 November 2024
CBC published updated aggregate Cyprus banking sector data (non-performing loans data) with reference date 30 November 2024.
11/03/2025 - Interest rate data for deposits and loans for each credit institution (GR only)
To further enhance transparency, CBC publishes monthly detailed interest rate data for deposits and loans for each credit institution. This facilitates public information, providing households and businesses with access to more comprehensive information.
17/03/2025 - CBC Macroeconomic Forecasts March 2025 for the Cypriot Economy (GR only)
CBC completed its March 2025 forecasts for Cyprus's primary macroeconomic aggregates for 2025-2027: Gross Domestic Product (GDP), unemployment, inflation, and inflation excluding energy and food (structural inflation). The analysis of the potential deviations from the baseline scenario of the GDP and inflation forecasts, respectively, has also been completed.
Read the Macroeconomic Forecasts
27/03/2025 - Monetary Financial Institutions (MFIs) Deposits and Loans Statistics
CBC released the MFIs deposits and loans statistics for February 2025, which are included in the March 2025 edition of Monetary and Financial Statistics.
06/03/2025 - Combined monetary policy decisions and statement
The Governing Council decided to lower the three key ECB interest rates by 25 basis points. In
particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission.
05/03/2025 - EBA consults on fees to validate pro forma models under the European Market Infrastructure Regulation
EBA launched a public consultation on fees to be paid by financial and non-financial counterparties requiring the validation of pro forma models under the European Market Infrastructure Regulation (EMIR). The consultation runs until 7 April 2025.
06/03/2025 - EBA consults on new rules related to the anti- money laundering and countering the financing of terrorism package
EBA launched a public consultation on four draft Regulatory Technical Standards (RTS) that will be part of the EBA’s response to the European Commission’s Call for Advice. These technical standards will be central to the EU’s new AML/CFT regime and will shape how institutions and supervisors will comply with their AML/CFT obligations under the new AML/CFT package. The consultation runs until 6 June 2025.
14/03/2025 - EBA consults on draft technical standards setting out the threshold for prudential risk management requirements of central securities depositories providing banking-type ancillary services
EBA launched a public consultation on draft Regulatory Technical Standards (RTS) on the threshold of activity at which Central Securities Depositories (CSDs) providing ‘banking-type ancillary services’ need to meet specific prudential risk management requirements set out in the Central Securities Depositories Regulation (CSDR). This work aims to allow CSDs to do more settlement of foreign currency in commercial bank money without increasing the risk in CSDs or the overall financial system.
17/03/2025 - EBA updates technical standards on the joint decision process for internal model authorisation
EBA published its final draft Implementing Technical Standards (ITS) amending the existing Implementing Regulation on the joint decision process for internal model authorisation under the Capital Requirements Regulation (CRR). The revised ITS incorporate changes to the EU legal framework. This final draft amending ITS is part of the first phase of the EBA roadmap for implementing the EU Banking Package.
27/03/2025 - EBA releases the draft of the technical package for its 4.1 reporting framework
EBA published a draft technical package for version 4.0 of its reporting framework. This publication aims to provide an early version of the 4.0 release, given that its reporting obligations will apply as of the first half of 2025.
31/03/2025 - ESA publishes evaluation report on the Securitisation Regulation
The Joint Committee (JC) of ESAs published its evaluation report on the functioning of the EU Securitisation Regulation (SECR). The report recommends strengthening the overall effectiveness of Europe’s securitisation framework through simplification while ensuring high investor protection and safeguarding financial stability.
31/03/2025 - ESAs call for vigilance amid rising geopolitical and cyber risks
EBA, EIOPA, and ESMA—the ESAs—published their Spring 2025 Joint Committee update on risks and vulnerabilities in the EU financial system. The update focuses on challenges linked to geopolitical tensions and cyber risks.
10/03/2025 - Guidelines on explanations and opinions, and the standardised test for crypto-assets under MiCA
ESMA established guidelines on templates for explanations and opinions, and the standardised test for crypto-assets, under Article 97(1) of Regulation (EU) 2023/1114
19/03/2025 - Guidelines on the conditions and criteria for the qualification of crypto-assets as financial instruments
These guidelines are issued under Article 16(1) of the ESMA Regulation and Article 2(5) of
MiCA. These guidelines specify conditions and criteria for determining whether a crypto-asset should qualify as a financial instrument and ensure the common, uniform and consistent application of the provisions in Article 2(4)(a) of MiCA.
26/03/2025 - Guidelines on specific aspects of the suitability requirements and format of the periodic statement for portfolio management activities under MiCA
These guidelines apply to competent authorities and crypto-asset service providers, as
defined in Article 3(1)(15) of MiCA, where they provide, as relevant, advice on cryptoassets or portfolio management of crypto-assets. These guidelines are based on Article 81(15) of MiCA and Article 16(1) of the ESMA Regulation. The objectives of these guidelines are to establish consistent, efficient and effective supervisory practices within the ESFS and to ensure the common, uniform and consistent application of the provisions in 81(1), (7), (8), (10), (11), (12) and (14) of MiCA, as relevant.
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