ABBL - The Luxembourg Bankers' Association

𝗘𝗕𝗔 𝗧𝗮𝘅𝗼𝗻𝗼𝗺𝘆 𝗮𝗱𝘃𝗶𝗰𝗲: 𝘀𝗲𝘃𝗲𝗿𝗮𝗹 𝗸𝗲𝘆 𝗔𝗕𝗕𝗟 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗮𝗿𝗲 𝗿𝗲𝗳𝗹𝗲𝗰𝘁𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗳𝗶𝗻𝗮𝗹 𝗿𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗮𝘁𝗶𝗼𝗻𝘀.

In its response to the EBA consultation on the Taxonomy Disclosures Delegated Act, the ABBL called for requirements that are 𝗽𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝘁𝗲, 𝘄𝗼𝗿𝗸𝗮𝗯𝗹𝗲 𝗶𝗻 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲 𝗮𝗻𝗱 𝘂𝘀𝗲𝗳𝘂𝗹 𝘁𝗼 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝗮𝗻𝗱 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘀.

The EBA’s final advice now reflects several of these priorities:

🔹 𝗙𝗲𝗲𝘀 & 𝗖𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻𝘀 𝗞𝗣𝗜: recommended for removal
🔹 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 𝗕𝗼𝗼𝗸 𝗞𝗣𝗜: recommended for removal
🔹 “𝗢𝘁𝗵𝗲𝗿 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀” 𝗞𝗣𝗜: a more targeted approach focused on capital-markets activities
🔹 𝗚𝗿𝗼𝘂𝗽-𝗹𝗲𝘃𝗲𝗹 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴: a simpler approach based primarily on the parent undertaking’s KPIs
🔹 𝗢𝗽𝗘𝘅: kept outside financial institutions’ KPI methodology

For the ABBL, this is a concrete advocacy outcome: 𝗹𝗲𝘀𝘀 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆, 𝗳𝗲𝘄𝗲𝗿 𝗹𝗼𝘄-𝘃𝗮𝗹𝘂𝗲 𝗱𝗶𝘀𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀 𝗮𝗻𝗱 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗳𝗼𝗰𝘂𝘀 𝗼𝗻 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝘁𝗵𝗮𝘁 𝗶𝘀 𝗴𝗲𝗻𝘂𝗶𝗻𝗲𝗹𝘆 𝘂𝘀𝗲𝗳𝘂𝗹.

As Alexandre Dias, Adviser – Financial Markets & ESG at the ABBL, notes:
“𝘖𝘷𝘦𝘳𝘢𝘭𝘭, 𝘈𝘉𝘉𝘓’𝘴 𝘮𝘢𝘪𝘯 𝘤𝘢𝘭𝘭𝘴 𝘵𝘰 𝘳𝘦𝘮𝘰𝘷𝘦 𝘭𝘰𝘸-𝘷𝘢𝘭𝘶𝘦 𝘒𝘗𝘐𝘴 𝘢𝘯𝘥 𝘳𝘦𝘥𝘶𝘤𝘦 𝘶𝘯𝘯𝘦𝘤𝘦𝘴𝘴𝘢𝘳𝘺 𝘳𝘦𝘱𝘰𝘳𝘵𝘪𝘯𝘨 𝘤𝘰𝘮𝘱𝘭𝘦𝘹𝘪𝘵𝘺 𝘢𝘳𝘦 𝘳𝘦𝘧𝘭𝘦𝘤𝘵𝘦𝘥 𝘪𝘯 𝘵𝘩𝘦 𝘌𝘉𝘈’𝘴 𝘢𝘥𝘷𝘪𝘤𝘦.”

The advice does not change the rules. The 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗖𝗼𝗺𝗺𝗶𝘀𝘀𝗶𝗼𝗻 will now consider it as part of its review of the Disclosures Delegated Act.

👉 Read the full article: https://lnkd.in/e3i96yY4

Alexandre Dias | European Banking Authority (EBA) | European Commission | ABBL

SustainableFinance EUTaxonomy ESG Banking Regulation Advocacy ABBL

𝗘𝗨 𝟮𝟬𝟮𝟳 𝗪𝗼𝗿𝗸 𝗣𝗿𝗼𝗴𝗿𝗮𝗺𝗺𝗲: 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀 𝗮𝗻𝗱 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗺𝗼𝘃𝗲 𝘂𝗽 𝘁𝗵𝗲 𝗮𝗴𝗲𝗻𝗱𝗮.

The European Commission’s 2027 Work Programme puts 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀, 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝘀𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗿𝗲𝗺𝗼𝘃𝗮𝗹 𝗼𝗳 𝗦𝗶𝗻𝗴𝗹𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗯𝗮𝗿𝗿𝗶𝗲𝗿𝘀 at the heart of its financial services agenda.

For banks, several files will be particularly important:

🔹 𝗕𝗮𝗻𝗸 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲𝗻𝗲𝘀𝘀 𝗮𝗻𝗱 𝗦𝗶𝗺𝗽𝗹𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗣𝗮𝗰𝗸𝗮𝗴𝗲 – expected in Q1 2027, with a focus on regulatory complexity, competitiveness and the Banking Union.
🔹 𝗘𝗗𝗜𝗦 – expected to be revisited as part of the banking competitiveness package.
🔹 𝗦𝗮𝘃𝗶𝗻𝗴𝘀 𝗮𝗻𝗱 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀 𝗨𝗻𝗶𝗼𝗻 – with further work on venture capital, pensions, market integration and sustainable finance.
🔹 𝗙𝗜𝗗𝗔 – the Commission intends to withdraw the proposal within six months.
🔹 𝗦𝗶𝗻𝗴𝗹𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗯𝗮𝗿𝗿𝗶𝗲𝗿𝘀 𝗮𝗻𝗱 𝗴𝗼𝗹𝗱-𝗽𝗹𝗮𝘁𝗶𝗻𝗴 – new initiatives are planned to increase transparency and tackle unnecessary national requirements.

For the ABBL, the direction is encouraging. Several of these initiatives reflect concerns that we and our partner associations have consistently raised, particularly around 𝗽𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝗹𝗶𝘁𝘆, 𝗳𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗰𝗿𝗼𝘀𝘀-𝗯𝗼𝗿𝗱𝗲𝗿 𝗯𝗮𝗿𝗿𝗶𝗲𝗿𝘀.

The key question now is whether these political ambitions will translate into 𝘁𝗮𝗻𝗴𝗶𝗯𝗹𝗲 𝗿𝗲𝗱𝘂𝗰𝘁𝗶𝗼𝗻𝘀 𝗶𝗻 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗰𝗼𝗺𝗽𝗹𝗲𝘅𝗶𝘁𝘆 𝗮𝗻𝗱 𝗺𝗲𝗮𝗻𝗶𝗻𝗴𝗳𝘂𝗹 𝗽𝗿𝗼𝗴𝗿𝗲𝘀𝘀 𝘁𝗼𝘄𝗮𝗿𝗱𝘀 𝗮 𝗺𝗼𝗿𝗲 𝗶𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗲𝗱 𝗦𝗶𝗻𝗴𝗹𝗲 𝗠𝗮𝗿𝗸𝗲𝘁.

👉 Read the full article by Antonio Garzon Amadei and Antoine Kremer: https://lnkd.in/e-3MmRXJ

Antonio Garzon Amadei | Antoine Kremer | European Commission | ABBL

EURegulation Banking Competitiveness Simplification SingleMarket BankingUnion ABBL

𝗜𝗳 𝘆𝗼𝘂’𝘃𝗲 𝗯𝗲𝗲𝗻 𝗮 𝘃𝗶𝗰𝘁𝗶𝗺 𝗼𝗳 𝗳𝗿𝗮𝘂𝗱, 𝘁𝗵𝗲 𝗱𝗲𝘁𝗮𝗶𝗹𝘀 𝘆𝗼𝘂 𝗸𝗲𝗲𝗽 𝗰𝗮𝗻 𝗺𝗮𝗸𝗲 𝗮 𝗿𝗲𝗮𝗹 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲. 📁

Messages.
Screenshots.
Phone numbers and email addresses.
Payment receipts.

These may all become important when reporting what happened or filing a complaint.

For the ABBL and the 𝙁𝙤𝙣𝙙𝙖𝙩𝙞𝙤𝙣 𝘼𝘽𝘽𝙇 𝙥𝙤𝙪𝙧 𝙡’𝙀𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣 𝙁𝙞𝙣𝙖𝙣𝙘𝙞𝙚̀𝙧𝙚, helping victims know what to preserve is part of making fraud response more effective: 𝗴𝗼𝗼𝗱 𝗱𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗰𝗮𝗻 𝗺𝗮𝗸𝗲 𝗶𝘁 𝗲𝗮𝘀𝗶𝗲𝗿 𝘁𝗼 𝗲𝘅𝗽𝗹𝗮𝗶𝗻 𝘁𝗵𝗲 𝗶𝗻𝗰𝗶𝗱𝗲𝗻𝘁, 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗮𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘁𝗮𝗸𝗲 𝘁𝗵𝗲 𝗻𝗲𝘅𝘁 𝘀𝘁𝗲𝗽𝘀.

The new 𝗰𝘆𝗯𝗲𝗿𝗳𝗿𝗮𝘂𝗱.𝗹𝘂 includes practical guidance on the evidence worth keeping and how to prepare your case. 🔎

👉 Check the evidence checklist:
𝗵𝘁𝘁𝗽𝘀://𝗰𝘆𝗯𝗲𝗿𝗳𝗿𝗮𝘂𝗱.𝗹𝘂

𝗗𝗢𝗡’𝗧 𝗖𝗟𝗜𝗖𝗞. 𝗖𝗛𝗘𝗖𝗞. 𝗥𝗘𝗣𝗢𝗥𝗧. ✅

Luxembourg House of Cybersecurity | ABBL | Banque centrale du Luxembourg (BCL) | Direction de la protection des consommateurs (Luxembourg) | Commission de Surveillance du Secteur Financier (CSSF) | INSTITUT LUXEMBOURGEOIS DE RÉGULATION | LuxTrust S.A. | BEE SECURE | Commissariat aux Assurances (CAA) | MyConnectivity G.I.E. | Ministère de l'Économie - Luxembourg

Cyberfraud CybersecurityMonth NationalResilienceDays LëtzPrepare Cybersecurity FraudPrevention Luxembourg

📢 𝗔𝗕𝗕𝗟 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝗮𝗿𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗔𝗻𝗻𝘂𝗮𝗹 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 | 𝗙𝗿𝗼𝗺 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝘁𝗼 𝗰𝗼𝗻𝗰𝗿𝗲𝘁𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀

Yesterday’s 𝗔𝗕𝗕𝗟 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝗮𝗿𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗔𝗻𝗻𝘂𝗮𝗹 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 brought together members and key stakeholders around the issues currently shaping Luxembourg’s depositary banking industry.

Designed around the priorities and challenges identified by our members, the conference provided a 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗼𝘃𝗲𝗿𝘃𝗶𝗲𝘄 𝗼𝗳 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆, 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘆, 𝗺𝗮𝗿𝗸𝗲𝘁 𝗮𝗻𝗱 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁𝘀.

It also highlighted the work carried out by the ABBL on behalf of its members, the priorities addressed through our working groups, and the value of continued dialogue across Luxembourg’s financial ecosystem.

Key discussions included:

🔹 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗙𝗼𝗰𝘂𝘀 & 𝗨𝗽𝗱𝗮𝘁𝗲𝘀 – the latest regulatory developments and supervisory priorities.
🔹 𝗖𝗦𝗦𝗙 / 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝗮𝗿𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗦𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗶𝗼𝗻 – insights into supervisory developments and direct exchange with the CSSF through an interactive Q&A session.
🔹 𝗔𝗕𝗕𝗟 𝗪𝗼𝗿𝗸𝗶𝗻𝗴 𝗚𝗿𝗼𝘂𝗽 𝗨𝗽𝗱𝗮𝘁𝗲 – progress and practical work on year-end asset inventories.
🔹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗧𝗿𝗲𝗻𝗱𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝗮𝗿𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 – developments and challenges affecting the sector, including findings from the 𝗔𝗕𝗕𝗟-𝗖𝗦𝗦𝗙 𝘀𝘂𝗿𝘃𝗲𝘆.
🔹 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗘𝗳𝗳𝗶𝗰𝗶𝗲𝗻𝗰𝘆 𝗶𝗻 𝗗𝗲𝗽𝗼𝘀𝗶𝘁𝗮𝗿𝘆 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 – operational challenges, innovation and the opportunities offered by 𝗔𝗜, with a practical focus on how depositary banks can evolve their operating models while taking regulatory priorities into account.
🔹 𝗘𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻 & 𝗧𝗿𝗮𝗶𝗻𝗶𝗻𝗴 – initiatives developed with the House of Training to support skills development and strengthen expertise across the industry.

For the ABBL, this is exactly the purpose of such exchanges: 𝗿𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗰𝗼𝗻𝘁𝗲𝗻𝘁, 𝗮𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀, 𝘃𝗶𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗼𝗻 𝗼𝗻𝗴𝗼𝗶𝗻𝗴 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝘄𝗼𝗿𝗸 𝗮𝗻𝗱 𝗱𝗶𝗿𝗲𝗰𝘁 𝗱𝗶𝗮𝗹𝗼𝗴𝘂𝗲 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗸𝗲𝘆 𝘀𝘁𝗮𝗸𝗲𝗵𝗼𝗹𝗱𝗲𝗿𝘀 𝗼𝗳 𝗼𝘂𝗿 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗰𝗲𝗻𝘁𝗿𝗲.

Thank you to all our speakers, moderators, members and partners for their contributions and expertise, and to the 𝗖𝗦𝗦𝗙 and our ecosystem partners for their continued dialogue and collaboration.

Together, we continue to address the industry’s priorities, anticipate upcoming challenges and contribute to the development of Luxembourg’s depositary banking ecosystem.

Brenda Bol | Marilyn Rinck | Frederic GNABRO | Pierre Legardien | Laurent Born | Bob Schaminé | Marc Marly | Anda Asaftei | Hélène Lange | Sergio Venti | Vincent Willem | Fabian Longo 🎓 | ABBL | Commission de Surveillance du Secteur Financier (CSSF)

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