ABBL - The Luxembourg Bankers' Association

The ABBL was honoured to engage with H.E. Jean McDonald, Ambassador of Ireland to Luxembourg, and with Ibec, represented by Pat Ivory and Neil Willoughby, thanks to the excellent hosting by FEDIL - The Voice of Luxembourg's Industry.

𝗜𝗿𝗲𝗹𝗮𝗻𝗱 𝗮𝗻𝗱 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴 𝗵𝗮𝘃𝗲 𝗺𝘂𝗰𝗵 𝗶𝗻 𝗰𝗼𝗺𝗺𝗼𝗻: small countries, strong financial centres, open economies and international hubs.

It was reassuring to observe that 𝗼𝘂𝗿 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝗲𝘀 𝗮𝗿𝗲 𝗮𝗹𝗶𝗴𝗻𝗲𝗱: simpler regulation for a more competitive, innovative and sustainable economy.

We wish Ireland every success with its 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝗰𝘆 𝗼𝗳 𝘁𝗵𝗲 𝗖𝗼𝘂𝗻𝗰𝗶𝗹 𝗼𝗳 𝘁𝗵𝗲 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗨𝗻𝗶𝗼𝗻.

Jerry Grbic | Sandrine Roux | Ananda Kautz | Antoine Kremer
ABBL
Ibec

ABBL Ireland Luxembourg EU Competitiveness Regulation Innovation

The ABBL welcomes the European Banking Authority (EBA)'s proposed revisions to the 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗶𝗻𝗴 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱𝘀 (𝗜𝗧𝗦) on supervisory reporting and fully supports the objective of creating a simpler, smarter and more proportionate reporting framework. Streamlining reporting requirements, reducing duplication and improving consistency across reporting modules should enhance the efficiency of supervisory reporting over time.

At the same time, successful simplification will depend on how these changes are implemented. The ABBL highlights several priorities:

🔹 While simplification measures are welcome, the expected reduction in reporting burden is likely to be 𝗺𝗼𝗿𝗲 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 𝘁𝗵𝗮𝗻 𝘀𝘂𝗴𝗴𝗲𝘀𝘁𝗲𝗱 𝗳𝗼𝗿 𝗹𝗮𝗿𝗴𝗲𝗿 𝗮𝗻𝗱 𝘀𝘆𝘀𝘁𝗲𝗺𝗶𝗰 𝗶𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝘀. The removal of some templates is partly offset by new reporting requirements, including the integration of stress-testing information into regular supervisory reporting.

🔹 Successful implementation requires 𝗮𝗱𝗲𝗾𝘂𝗮𝘁𝗲 𝗹𝗲𝗮𝗱 𝘁𝗶𝗺𝗲𝘀. Institutions need sufficient time to adapt systems, conduct testing and ensure data quality. Where timelines are compressed, transitional arrangements and phased implementation should be considered.

🔹 We strongly support greater 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗽𝗿𝗲𝗱𝗶𝗰𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆, including fixed implementation calendars aligned with reporting reference dates. Early adoption should remain voluntary, allowing institutions to implement revised requirements according to their own capabilities.

🔹 We welcome the 𝗘𝗕𝗔'𝘀 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝘁𝗼𝗼𝗹𝘀, including the Time Traveller, Signposting Tool and Reporting Framework Overview. Additional implementation guidance and clearer change management tools would further support institutions preparing for regulatory change.

🔹 𝗙𝘂𝘁𝘂𝗿𝗲 𝗶𝗺𝗽𝗮𝗰𝘁 𝗮𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁𝘀 should better differentiate between Small and Non-Complex Institutions (SNCIs) and larger or systemic institutions, as implementation efforts remain significantly higher for the latter.

𝗢𝘃𝗲𝗿𝗮𝗹𝗹, 𝘁𝗵𝗲 𝗔𝗕𝗕𝗟 𝘀𝘂𝗽𝗽𝗼𝗿𝘁𝘀 𝘁𝗵𝗲 𝗱𝗶𝗿𝗲𝗰𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗕𝗔'𝘀 𝗽𝗿𝗼𝗽𝗼𝘀𝗮𝗹𝘀 𝗮𝗻𝗱 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗰𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗱 𝘁𝗼 𝗮 𝘀𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝘁𝗵𝗮𝘁 𝗶𝘀 𝘀𝗶𝗺𝗽𝗹𝗲𝗿, 𝗺𝗼𝗿𝗲 𝗽𝗿𝗼𝗽𝗼𝗿𝘁𝗶𝗼𝗻𝗮𝘁𝗲 𝗮𝗻𝗱 𝗺𝗼𝗿𝗲 𝗽𝗿𝗲𝗱𝗶𝗰𝘁𝗮𝗯𝗹𝗲, 𝘄𝗵𝗶𝗹𝗲 𝗲𝗻𝘀𝘂𝗿𝗶𝗻𝗴 𝗿𝗲𝗮𝗹𝗶𝘀𝘁𝗶𝗰 𝗶𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝘁𝗶𝗺𝗲𝗹𝗶𝗻𝗲𝘀 𝗮𝗻𝗱 𝗵𝗶𝗴𝗵-𝗾𝘂𝗮𝗹𝗶𝘁𝘆 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗿𝗲𝗽𝗼𝗿𝘁𝗶𝗻𝗴.

𝗔𝗕𝗕𝗟𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝗶𝗻𝗴𝗖𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗲 | Thomas Collin | Sandrine Roux

ABBL EBA Banking PrudentialReporting SupervisoryReporting Regulation

🤖✨ AI is often discussed in theory. Seeing it in action is something else entirely.

This week, ABBL members had the opportunity to explore the 𝗟𝗛𝗼𝗙𝗧 𝗔𝗜 𝗘𝘅𝗽𝗲𝗿𝗶𝗲𝗻𝗰𝗲 𝗖𝗲𝗻𝘁𝗿𝗲, discovering firsthand how artificial intelligence is already transforming financial services through interactive demonstrations and real-world use cases.

From compliance and wealth management to ESG and productivity, the visit showcased practical applications that are helping financial institutions improve efficiency, support better decision-making and create new value.

Beyond the technology itself, the discussions also highlighted the strength of 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴'𝘀 𝗔𝗜 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺, the importance of attracting leading European and international use cases, and the need to equip financial professionals with the skills required to embrace this transformation.

A big thank you to The LHoFT - Luxembourg House of Financial Technology, and especially Esli Spahiu, for the warm welcome and for sharing their expertise with our members.

We look forward to continuing to foster dialogue, collaboration and hands-on learning as Luxembourg's financial sector accelerates its AI journey. 🚀

Arnaud Clément | Galina Miroshnichenko | Andrey Martovoy | The LHoFT - Luxembourg House of Financial Technology | Esli Spahiu

ABBL ArtificialIntelligence AI Innovation FinTech DigitalTransformation LuxembourgFinance