Insight EU Finance Monitoring Weekly 16 – 21 February 2026

EUROGROUP

Main result of the Eurogroup on 16 February 2026
Eurogroup: Ministers of the euro area reconfirm Tuomas Saarenheimo as President of the Eurogroup working group
Remarks by Kyriakos Pierrakakis following the Eurogroup meeting of 16 February 2026
Remarks by EU Commissioner Dombrovskis at the Eurogroup press conference

ECOFIN COUNCIL

Main results of the Economic and Financial Affairs Council, 17 February 2026
EU annual budget 2027: EU Council sets guidelines for next year’s EU budget
Economic governance: EU Council approves flexibility for Austria to increase defence spending
EU Council updates its list of non-cooperative jurisdictions for tax purposes
Remarks by EU Commissioner Dombrovskis at the ECOFIN press conference

SAVINGS & INVESTMENTS UNION

Capital markets integration and supervision: Master regulation – EP Research Service

BANKING SECTOR

EU Commission: Non-Performing Loans Advisory Panel renews its membership

DIGITAL EURO

The digital euro: enhancing payments in the euro area – Speech by Piero Cipollone, Member of the Executive Board of the ECB, at the Italian Parliamentary Committee of Inquiry into the Banking, Financial and Insurance System
ECB and ONCE Foundation launch collaboration to ensure digital euro is accessible for everyone

ECB

ECB Blog: Climate-related disasters can push up the cost of debt
The order that took centuries to build – Acceptance speech by Christine Lagarde, President of the ECB, for the Wolfgang Friedmann Memorial Award 2026 at Columbia Law School in New York
Wall Street Journal Interview with Christine Lagarde, President of the ECB, conducted by Emma Tucker, Chelsey Dulaney, Greg Ip, Nick Timiraos, Daniel Colarusso and Amol Sharma on 19 February 2026
The ECB Blog: Using AI to transform the ECB’s Corporate Telephone Survey
Further publications by the ECB
Letters to MEPs: Letter from the ECB President to Mr Fabio de Masi and Mr Dick Erixon, MEPs, on institutional matters
Balance of payments (monthly): Euro area monthly balance of payments: December 2025
Weekly financial statement: Consolidated financial statement of the Eurosystem as at 13 February 2026
Economic Bulletin: Economic Bulletin Issue 1, 2026
Economic Bulletin Issue 1, 2026: Fiscal challenges amid geopolitical uncertainty and ageing societies
Economic Bulletin – Article: Overcoming structural barriers to the green transition
Economic Bulletin – Box: Estimating the time-varying reserve elasticity of money market rates in the euro area
Economic Bulletin – Box: Consumption and saving amid uncertainty: recent insights from the CES
Economic Bulletin – Box: Global trade redirection: tracking the role of trade diversion from US tariffs in Chinese export developments
Economic Bulletin – Box: The fundamental drivers of recent developments in euro area housing investment
Economic Bulletin – Box: Drivers of electricity prices across households and energy-intensive industries and their importance for the EU’s decarbonisation objectives
Working Paper Series – Issue No. 3189: Bayesian inference in IV regressions
Working Paper Series – Issue No. 3188: A structural model of capital buffer usability

ECB BANKING SUPERVISION

ECB welcomes extension of Frank Elderson’s term as Vice-Chair of the Supervisory Board
Bloomberg Interview with Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Laura Noonan and Nick Comfort on 17 February 2026
ECB sanctions J.P. Morgan for misreporting capital requirements
ECB Podcast: Inside euro area banks

EIB

EIB Working Paper 2026/04 – Sovereign debt dynamics at the brink of default and the special role of supranational lenders
European promotional institutions and European Investment Bank Group to accelerate investment and strengthen Europe’s competitiveness, resilience and security

AMLA

Il Sole 24 Ore interviews AMLA Chair Bruna Szego

EBA

EBA issues Opinion to the European Commission on the draft amended European Sustainability Reporting Standards
The EBA ESG Dashboard update shows stable climate risk indicators
Ongoing EBA consultations
Consultation on amending Guidelines on the appropriate subsets of exposures in the application of the systemic risk buffer (EBA/CP/2026/01)
Consultation on Technical standards on prudentially material transactions under CRD (EBA/CP/2025/25)
Consultation on Regulatory Technical Standards on prudential requirements for central securities depositories (CSDs) (EBA/CP/2025/24)

EIOPA

EIOPA issues its Opinion on EFRAG’s technical advice on the draft revised European Sustainability Reporting Standards
EIOPA publishes the first batch of guidelines and draft technical standards related to the IRRD
Ongoing consultations by EIOPA
Consultation on supervisory statement on the authorisation and ongoing supervision of (re-)insurance undertakings related to private equity – Deadline: 30 April 2026, 23:59 (CEST)
Consultation on on the proposal for Regulatory Technical Standards specifying methodologies and principles on the valuation of liabilities arising from derivatives – Deadline: 20 March 2026, 23:59 (CET)
Consultation on on the proposal for Regulatory Technical Standards on contractual recognition of resolution stay powers under Article 52 of the IRRD – Deadline: 20 March 2026, 23:59 (CET)
Consultation on the proposal for Regulatory Technical Standards on the independence of valuers for resolution under Article 24(6) of the IRRD – Deadline: 20 March 2026, 23:59 (CET)
Consultation on the proposal for Guidelines to specify further details on the criteria on simplified obligations under the IRRD – Deadline: 20 March 2026, 23:59 (CET)
Consultation on the proposal for Guidelines to specify how information should be provided in summary or collective form for the purposes of Article 66(2) of the IRRD – Deadline: 20 March 2026, 23:59 (CET)
Consultation on the proposal for Guidelines to specify further the qualitative and quantitative indicators in pre-emptive recovery planning – Deadline: 20 March 2026, 23:59 (CET)
Consultation on the proposal for Guidelines to specify further the range of scenarios in pre-emptive recovery planning – Deadline: 20 March 2026, 23:59 (CET)
Consultation on draft revised Guidelines on group solvency – Solvency II Review – Deadline: 27 February 2026, 23:59 (CET)
Consultation on draft revised Guidelines on reporting and public disclosure – Solvency II Review – Deadline: 27 February 2026, 23:59 (CET)

ESMA

ESMA supports the simplified European Sustainability Reporting Standards and suggests targeted adjustments
ESMA seeks input to streamline and simplify its market abuse guidelines
Upcoming changes to the Euribor Panel
Further ESMA publications
Compliance table on the Guidelines on Enforcement of Sustainability Information
ESMA publishes statement supporting the smooth implementation of the Listing Act – simplifying prospectus compliance for issuers
Statement on Reshaping performance: Implementation of IFRS 18 Presentation and Disclosure in Financial Statements
ESMA sanctions Regis-TR for serious breaches of organisational obligations
ESMA publishes list of supplementary deferrals for sovereign bonds
Compliance table on MiCA reverse solicitation Guidelines
AI adoption and trends in securities markets: EU evidence – TRV article
Hearing: Webinar on the AI adoption and trends in securities markets: EU evidence

EU COMMISSION REGISTER

Directorate-General for Economic and Financial Affairs
COMMISSION OPINION on the Draft Budgetary Plan of Belgium
COMMISSION IMPLEMENTING DECISION on the authorisation of the disbursement of the eighth instalment of the non-repayable support and the eighth instalment of the loan support for Portugal
COMMISSION IMPLEMENTING DECISION on the authorisation of the disbursement of the third instalment of the loan support for Lithuania
Directorate-General for Financial Stability, Financial Services and Capital Markets Union
COMMISSION IMPLEMENTING REGULATION (EU) …/… laying down technical information for the calculation of technical provisions and basic own funds for reporting with reference dates from 31 December 2025 until 30 March 2026 in accordance with Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance
Commission Notice related to the Commission Implementing Regulation (EU) 2026/124 on the average market price for Russian crude oil over the monitoring period (15 July 2025 until 15 December 2025) and the new price cap level for Russian crude

EU PARLIAMENT REGISTER

Draft agenda – Wednesday, 25 February 2026 – PE784.490v01-00 – Committee on Economic and Monetary Affairs , Committee on Civil Liberties, Justice and Home Affairs
Draft agenda – Wednesday, 25 February 2026 – Thursday, 26 February 2026 – PE784.489v01-00 – Committee on Economic and Monetary Affairs
Highlights – European Parliamentary Week (EPW) on 23 and 24 February 2026 in Brussels – Committee on Economic and Monetary Affairs
Highlights – Monetary Dialogue with Christine Lagarde, President of the European Central Bank – Committee on Economic and Monetary Affairs
Highlights – Exchange of views with Nadia Calviño, President of the European Investment Bank Group – Committee on Economic and Monetary Affairs
Highlights – Appointment of the Chairperson of the European Banking Authority – Committee on Economic and Monetary Affairs
Highlights – Economic Dialogue: Makis Keravnos, ECOFIN President and Minister of Finance of Cyprus – Committee on Economic and Monetary Affairs
Highlights – Appointment of the Vice-President of the European Central Bank – Committee on Economic and Monetary Affairs
DRAFT REPORT on the proposal for a Council regulation amending Regulation (EU) No 904/2010 as regards the access of the European Public Prosecutor’s Office (EPPO) and the European Anti-Fraud Office (OLAF) to value added tax information at Union level – PE784.400v01-00
DRAFT REPORT on the Council recommendation for appointment of the Vice-President of the European Central Bank – PE784.232v01-00
DRAFT REPORT on the proposal for the appointment of the Chairperson of the European Banking Authority – PE784.336v01-00
Question to the ECB – Transparency of beneficial owners in securitisation of non-performing loans with State guarantees – PE782.431v01-00
Draft agenda – Wednesday, 25 February 2026 – PE784.490v01-00 – Committee on Economic and Monetary Affairs , Committee on Civil Liberties, Justice and Home Affairs
Briefing – Economic Dialogue with the President of the ECOFIN – 19-02-2026 Study – EU rare disease action plan- European Added Value Assessment – 20-02-2026
Briefing – Outcome of the 12 February 2026 EU leaders’ competitiveness retreat – 20-02-2026
Study – Analysing Malta’s implementation of EU Directive 2002/49/EC on the Assessment and Management of Environmental Noise – 20-02-2026
At a Glance – European Investment Bank (EIB): 2025 operations and outlook for 2026 – 19-02-2026
Briefing – Boosting supplementary pensions – 18-02-2026 Briefing – Capital markets integration and supervision: Master regulation – 16-02-2026
Answer to a written question – Taxing the super-rich – E-004348/2025(ASW)
Answer to a written question – Local authorities’ access to EU funds in the new multiannual financial framework proposal – E-004780/2025(ASW)
Answer to a written question – Compatibility of Article 37 of the Organic Law on the National Bank of Belgium with Article 31.2 of the ESCB Statute – P-004555/2025(ASW)
DRAFT OPINION on the proposal for a Council decision on the conclusion of a broad package of agreements to consolidate, deepen and expand the bilateral relations with the Swiss Confederation – PE784.338v01-00
DRAFT OPINION on the proposal for a Council decision on the conclusion of a broad package of agreements to consolidate, deepen and expand the bilateral relations with the Swiss Confederation – PE782.520v01-00
AMENDMENTS 25 – 178 – Draft opinion Interim report on the proposal for the multiannual financial framework for 2028-2034 – PE782.394v01-00

EU COUNCIL REGISTER

WK 2029 2026 INIT Working Party on Financial Services and the Banking Union (PEPP) – 29 January 2026 Commission presentation – PEPP proposal
ST 6172 2026 INIT Employment and social aspects of the 2026 Recommendation on the economic policy of the euro area – Approval
CM 1650 2026 INIT Ad Hoc Working Party on the Carbon Border Adjustment Mechanism (AHWP CBAM)
CM 1669 2026 INIT Working Party on Customs Union
CM 1638 2026 INIT Ad hoc Working Party on the Multiannual Financial Framework (European Competitiveness Fund)

IMF

A Global Vision for Indian AI -Remarks by IMF Managing Director Kristalina Georgieva at the India AI Impact Summit in New Delhi, India
IMF Executive Board Concludes 2025 Article IV Consultation with China
How China’s Economy Can Pivot to Consumption-led Growth
People’s Republic of China: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the People’s Republic of China
Further publications by the IMF
Departmental Papers : Macroeconomic Challenges of Fragility and Policies for Stability and Growth
Stock-Bond Diversification Offers Less Protection From Market Selloffs
Republic of Moldova: Technical Assistance Report-Advancing Audit Reforms
Technical Notes and Manual : Climate Risks: The Role of Financial Regulators and Supervisors
IMF Working Papers : Optimal Exchange Rate Policy with Oil Shocks
IMF Working Papers : Population Aging and Pension Reforms in China
IMF Working Papers : Intermediation, Interrupted? Bank-Level Analysis of Interest Spreads in Montenegro

BIS

Basel Committee publishes analysis of synthetic risk transfers
Publications by the BIS
BIS residential property price statistics, Q3 2025
Dollar funding and housing markets: the role of non-US global banks
Literature review on non-maturity deposit stability: Established factors and recent developments
Statistics and beyond: new data for decision making in central banks
Economic impact of AI in emerging market economies
Project Spectrum: using generative AI to enhance inflation nowcasting
Synthetic risk transfers
Does Experience Matter? Past Fraud Experiences, Data Compromises, and Credit Market Behavior
Bayesian inference in IV regressions
Consumer Price Stickiness in the Euro Area During an Inflation Surge
A structural model of capital buffer usability
Unveiling Demand Function Dynamics: A Scalable, Cross-Market Estimation Using Point-of-Sale Data
Model Risk Under CECL: A Consumer Finance Perspective
From traits to rates: How personality shapes inflation expectations
Do Research Universities Recession-Proof Their Regions? Evidence from State Flagship College Towns
Incorporating Micro Data into Macro Models Using Pseudo VARs
Monetary Policy Exposure of Banks and Loan Contracting
Luis de Guindos: Monetary policy and financial stability in the euro area
Claudia Buch: AMLA and ECB Banking Supervision – strengthening cooperation
Piero Cipollone: Europe and monetary sovereignty
Piero Cipollone: The digital euro – strengthening Europe’s payments ecosystem
Philip R Lane: The euro in a changing world
Joachim Nagel: Under what circumstances is the inflation rate too low?
Denis Beau: The regulatory framework for securitisation
Swaminathan J: Values in action – the making of a strong institution
Alberto Naudon: Chile’s economic outlook
Soledad Núñez: Crossed perspectives on a natural catastrophe
David Ramsden: The evolution of the Bank’s approach to resolution
Adnan Zaylani Mohamad Zahid: Bridging the divide – Islamic finance as a catalyst for global climate resilience
Sarah Breeden: Talking ’bout next generation
Petar Chobanov: Back to basics – interest rates, price stability and supply side shocks
Shirish Chandra Murmu: Regulation in the digital era – issues, opportunities and challenges
Dimitar Radev: Bulgaria’s membership of the euro area marks the beginning of a new phase
Fatih Karahan: Recent economic and financial developments in Turkey
Olaf Sleijpen: Repairing the vending machine – how the Savings and Investment Union is key to Europe’s future
Philip N Jefferson: Economic outlook and supply-side (dis)inflation dynamics
Kazuyuki Masu: Economic activity, prices, and monetary policy in Japan
Ida Wolden Bache: Economic perspectives

FSB

Strategic review of FSB crisis preparedness activities

USA

Federal Reserve Board announces it will hold a hybrid public outreach meeting on Thursday, March 26, as part of its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA)
Minutes of the Federal Open Market Committee, January 27–28, 2026
Speech by Vice Chair for Supervision Bowman on revitalizing bank mortgage lending
Speech by Governor Barr on artificial intelligence and the labor market

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