European Union: Debt Capital Markets

There were several important legislative changes which were published over the course of September 2025. Below is an overview of the key updates across different areas.

The proposed changes in the Draft Regulation aim to address several challenges in the current Solvency II framework, including excessive sensitivity to short-term market volatility...

On 15 September 2025, the European Central Bank (ECB), acting in its role at the head of the Single Supervisory Mechanism (SSM) pillar of the EU's Banking Union, launched a public consultation on new guidelines for dealing with non-performing exposures (NPEs) at less significant institutions (LSIs) (the LSI NPE Guidelines).

On 22 August 2025, the Luxembourg tax authorities ("LTA") published a new Circular (L.I.R. nº 168quater/2, dated 12 August 2025) addressing certain aspects of the Luxembourg reverse hybrid mismatch rules ("RHMR").

The world of banking and finance is undergoing rapid transformation. From the rise of digital platforms and alternative payment systems to the expanding scope of regulatory oversight, today's financial environment is more complex and fast-paced than ever.

In the recent decision of Pepper v O'Reilly[1], delivered on 8 July 2025, the Court of Appeal considered the correct procedural steps in an appeal of a Circuit Court Order for Possession...

The Central Bank of Ireland ("the CBI") has published its ‘Authorisations and Gatekeeping Report 2024' (the "Report") (here).

The European Commission yesterday published a formal legislative proposalOpens in new window in connection with the current EU securitisation framework (the "Securitisation Legislative Proposal").

The European Securities and Markets Authority ("ESMA") has published its final reports on the Prospectus Regulation (the "Regulation") and civil prospectus liability.