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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

The European Banking Authority (EBA) today published three final draft Regulatory Technical Standards (RTS) that provide a taxonomy for operational risk losses and offer clarity on the exemptions for the calculation of the annual operational risk loss and on the adjustments to the loss data set that banks must perform when merging or acquiring entities or activities.

The RTS on establishing a risk taxonomy on operational risk provide a list of operational risk event types, categories and attributes that institutions must use when recording operational risk loss events, in line with the current framework and the international standards.

The RTS on the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss recognise cases when it would be disproportionate for an institution to promptly calculate the annual operational risk loss. In such cases, the RTS allow for a temporary waiver from the requirement to calculate the annual operational risk loss.

The RTS on the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities provide indications on the currency and the risk taxonomy to be used when incorporating the loss data set of merged entities or activities, and provides guidance on how to calculate the annual operational risk loss when data on historical losses are not available.

Legal basis and background

Article 317(9) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR), mandates the EBA to develop draft RTS to establishing a risk taxonomy on operational risk that complies with international standards and a methodology to classify the loss events included in the loss data set based on that risk taxonomy on operational risk.

The operational risk taxonomy represents a significant update of the operational risk loss events, featuring clearer definitions and enhanced descriptions. It aligns with industry’s best practices by capturing the attributes of loss events, which represent additional information on the nature of the losses that go beyond the event types and the categories.

Furthermore, the operational risk taxonomy is aligned with the definitions in the Digital Operational Resilience Act (DORA), allowing for a simpler management of the loss dataset. Finally, attributes on ESG are meant to complement the risk taxonomy, allowing institutions to add this piece of information to relevant operational risk losses.         

Article 316(3) of the CRR, mandates the EBA to develop draft RTS to specify the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss.

Article 321(2) of the CRR3 mandates the EBA to draft RTS to determine the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities.

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Gaza: As aid trucks enter, videos of Israeli hostages and attack on Red Crescent staffers spark outrage

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Gaza: As aid trucks enter, videos of Israeli hostages and attack on Red Crescent staffers spark outrage

Meanwhile, on Thursday and again on Saturday, Palestinian Islamic Jihad and Hamas militants published disturbing videos of two emaciated Israeli hostages, sparking worldwide outrage and condemnation from UN leaders, including Secretary-General António Guterres on Monday.

The hostages pictured, Rom Braslavsk and Evyatar David, are two of the 49 are still being held in Gaza, including 27 the Israeli military says are dead.

At Monday’s daily briefing in New York, UN Deputy Spokesman Farhan Haq said the Secretary-General “was very shocked by this unacceptable violation of human dignity.”

UN rights chief Volker Türk added in a statement that he was appalled by the humiliating treatment of the hostages. Both he and the Under-Secretary-General for Humanitarian Affairs, Tom Fletcher, reiterated their call for an unconditional, immediate release of all hostages still being held since the 7 October terror attacks.

The High Commissioner said the “intolerable” sight of starvation in Gaza served as another reminder that the violence had to end. “Saving lives must be everyone’s priority.”

He called for Israel to immediately allow and facilitate rapid and unimpeded aid: “Denying civilians access to food may amount to a war crime, as well as potentially a crime against humanity.”

Attack on aid workers

On Sunday, the Israeli military reportedly struck the headquarters of the Palestinian Red Crescent Society in Khan Younis, killing one and injuring three other staff members.  

The facility is marked with the Red Crescent emblem and is thus protected under international humanitarian law.

The UN rights office (OHCHR) in Palestine expressed deep shock and outrage over these killings.

“These workers continue to engage in life-saving efforts putting their own lives at risk,” OHCHR said.

Aid entry  

Amid these controversies, the Director-General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, posted on social media on Saturday, saying that since Friday, the agency had brought 24 trucks with medical supplies into Gaza.  

Items included essential medicines, trauma and surgery supplies, treatments for non-communicable disease and laboratory and water testing supplies.  

Mr. Haq also highlighted on Monday that in recent days, the UN and its partners have collected wheat flour, ready-to-eat rations and hot meals from crossing points into Gaza, but most of the cargo was taken by the hungry and desperate before reaching intended destinations.

Additionally, hygiene kits and nutrition supplies, including high-energy biscuits for pregnant and breastfeeding women and infant formula, have entered in the past week.

However, in the second week since the Israeli announcement of tactical pauses to allow safe passages for UN aid convoys, Mr. Haq said realities on the ground remain largely the same.  

This includes many challenges to delivering aid, resulting in the impediment of two of the 11 missions on Sunday and the full passage of only seven.

Famine-like conditions

This aid is still a fraction of what is needed, as a catastrophic food crisis worsens across the Strip.  

The World Food Programme (WFP) said it “is doing everything possible to distribute vital food assistance to families,” but reported on Sunday that over half a million people in Gaza are enduring famine-like conditions.  

The UN aid agency for Palestinians (UNRWA) released an audio of Manar, an employee who works within Gaza, on Monday. She said that “food is never enough,” and that many walk in the heat for hours to search for food and medical supplies.

The Commissioner-General for UNRWA, Philippe Lazzarini, underscored that this near-famine is largely due to deliberate efforts to dismantle the UN-coordinated humanitarian system through the Israeli and US-backed Gaza Humanitarian Foundation (GHF), which is responsible for the killing of nearly 1,400 starving Palestinians near its sites and convoy routes, according to Gaza’s health ministry.

Prioritising the GHF, Israel has prevented UNRWA – “the backbone of humanitarian response” – from bringing in assistance since 2 March, he said. 

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Small-scale solar explosion reveals big clues about magnetic reconnection

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Using the world’s largest solar telescope, a team of scientists has captured one of the most detailed views

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Become a European Commission trainee

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Become a European Commission trainee

Applications are open for the Commission’s Blue Book traineeship programme for March-July 2026. There’s no age limit; you just need to have a 3-year higher education degree and be proficient in at least 2 EU official languages. Get a taste of how the EU institutions work and apply now. Find out how.

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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

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The European Banking Authority (EBA) today published three final draft Regulatory Technical Standards (RTS) that provide a taxonomy for operational risk losses and offer clarity on the exemptions for the calculation of the annual operational risk loss and on the adjustments to the loss data set that banks must perform when merging or acquiring entities or activities.

The RTS on establishing a risk taxonomy on operational risk provide a list of operational risk event types, categories and attributes that institutions must use when recording operational risk loss events, in line with the current framework and the international standards.

The RTS on the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss recognise cases when it would be disproportionate for an institution to promptly calculate the annual operational risk loss. In such cases, the RTS allow for a temporary waiver from the requirement to calculate the annual operational risk loss.

The RTS on the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities provide indications on the currency and the risk taxonomy to be used when incorporating the loss data set of merged entities or activities, and provides guidance on how to calculate the annual operational risk loss when data on historical losses are not available.

Legal basis and background

Article 317(9) of Regulation (EU) No 575/2013 (Capital Requirements Regulation – CRR), mandates the EBA to develop draft RTS to establishing a risk taxonomy on operational risk that complies with international standards and a methodology to classify the loss events included in the loss data set based on that risk taxonomy on operational risk.

The operational risk taxonomy represents a significant update of the operational risk loss events, featuring clearer definitions and enhanced descriptions. It aligns with industry’s best practices by capturing the attributes of loss events, which represent additional information on the nature of the losses that go beyond the event types and the categories.

Furthermore, the operational risk taxonomy is aligned with the definitions in the Digital Operational Resilience Act (DORA), allowing for a simpler management of the loss dataset. Finally, attributes on ESG are meant to complement the risk taxonomy, allowing institutions to add this piece of information to relevant operational risk losses.         

Article 316(3) of the CRR, mandates the EBA to develop draft RTS to specify the conditions under which it would be unduly burdensome for an institution to calculate the annual operational risk loss.

Article 321(2) of the CRR3 mandates the EBA to draft RTS to determine the adjustments to an institution’s loss data set following the inclusion of losses from merged or acquired entities or activities.

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The final straw? Discussions on plastic pollution begin in Geneva

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Unless an international agreement is inked, Plastic waste should triple by 2060, causing significant damage – including our health – according to the United Nations environment program (Dive).

The talks led by UNEP followed a decision in 2022 by the member states to meet and develop a legally binding international instrument to put an end to the crisis of plastic pollution, including in the marine environment in the two years.

The scale of the problem is massive, with straws, cups and agitators, transporter bags and cosmetics containing single -use microbead microbeads found in our oceans and discharge sites.

Supporters of an agreement have compared it to the Paris climate agreement in terms of meaning. They also underlined the pressure which claims to be exerted against an agreement by Petrostats, whose crude oil and natural gas provide the constituent elements of the plastics.

“We will not recycle the crisis of plastic pollution: we need a systemic transformation to reach the transition to a circular economy”, “ The Executive Director of UNEP, Inger Andersen, insisted.

Circular argument

The purpose of the agreement is that it encompasses the full life cycle of plastics, from design to production and elimination “To promote plastic circularity and avoid plastic leaks in the environment”,, According to the text used to guide the talks of the Rally of the Intergovernmental Negotiation Committee (INC) in the Swiss City.

At 22 pages, the Document Inc Contains 32 projects of articles that will be discussed online. The text is designed to shape the future instrument and will serve as a starting point for negotiations.

10 -day stint

During 10 days from August 5 to 14, delegations from 179 countries are due to pores on the INC text while they meet in the UN Geneva, alongside more than 1,900 other participants of 618 observers’ organizations, including scientists, environmentalists and industry representatives.

One of the main objectives of Reunion is to share proven and tested means of reducing the use of plastic such as non -plastic substitutes and other safer alternatives.

Before the talks in Geneva, the medical journal respected The Lancet published a warning that the materials used in plastics cause an extensive disease “at each stage of the plastics life cycle and at each stage of human life”.

According to more than two dozen health experts cited in the journal, infants and young children are particularly vulnerable. “Plastics are a serious, growing and under-regulated danger for human and planetary health” and are responsible for economic losses related to health exceeding $ 1 · $ 5 billion per year, “he noted.

To follow discussions on live plastic pollution on the UN Web TV, click here: https://webtv.un.org/en/asset/k16/k16cqrvu2w

Directing talks in Geneva is Jyoti Mathur-FilippExecutive secretary of the Intergovernmental (or Inc) negotiation committee on plastic pollution and head of the secretariat of the inc.

“Just in 2024, humanity was to consume more than 500 million tonnes of plastic. From this, 399 million tonnes will become waste, “she said.

The latest forecasts indicate that plastic leaks in the environment will increase by 50% by 2040. “The cost of damage caused by plastic pollution could increase as high as a cumulative of 281 billions of dollars between 2016 and 2040,” she said.

The road to an international agreement:

Five negotiation sessions to a plastic treaty have been held so far:

  • The first was in Uruguay in November 2022.
  • Two others followed in 2023 – in France and Kenya.
  • In April 2024, the intergovernmental negotiation committee (INC) met in Canada.
  • More recently, discussions took place in Busan, Republic of Koreaat the end of last year. These talks were postponed after the delegations agreed to resume discussions in Geneva, under the leadership of the Chairman of the Committee, Ambassador Luis Vayas Valdivieso of the Ecuador.

Originally published at Almouwatin.com

103/2025 : 1 August 2025 – Judgments of the Court of Justice in Cases C-758/24, C-759/24

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103/2025 : 1 August 2025 – Judgments of the Court of Justice in Cases C-758/24, C-759/24

Alace

Area of Freedom, Security and Justice

International protection: the designation of a third country as a ‘safe country of origin’ must be amenable to effective judicial review

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103/2025 : 1 August 2025 – Judgments of the Court of Justice in Cases C-758/24, C-759/24

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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

Alace Area of Freedom, Security and Justice International protection: the designation of a third country as a ‘safe country of origin’ must be amenable to effective judicial review Source link

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EC President Encounters EIT-supported Remonda Project during JRC Visit in Seville

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During her recent visit to the Joint Research Centre in Seville, European Commission President Ursula von der Leyen was introduced to Remonda, a circular economy initiative supported by the EIT Community New European Bauhaus

The encounter offered an opportunity to showcase how EU-backed innovation can drive local change, empower young talent, and offer tangible solutions to environmental challenges. 

From Orange Peels to Bioplastics

Remonda is led by a dynamic team of young female innovators, Monica, Celia and Marina, who are transforming a local challenge into a sustainable opportunity. Inspired by the vast number of orange trees in Seville – which produce nearly six million kilos of oranges each year – the team has developed a process to convert discarded orange peels into biodegradable bioplastics. 

A Project Rooted in Community-Led Action 

The project emerged from a Climathon in Seville, a local innovation event organised under the umbrella of Climate-KIC. From this initial spark, the team went on to receive recognition through the EIT Community New European Bauhaus Ideation Awards, where Remonda won the Audience Award in 2022. Supported by the EIT Community, Remonda is now developing a minimum viable product and conducting further research to scale up its impact.

Connecting Local Talent to a Continental Network 

As part of Europe’s largest innovation ecosystem, the EIT Community brings together more than 2 400 partners across 70+ hubs, enabling ventures like Remonda to grow from grassroots ideas into real-world solutions. The visit from President von der Leyen highlights how EIT-supported initiatives are contributing to a greener, more resilient Europe – one peel at a time.

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EC President Encounters EIT-supported Remonda Project during JRC Visit in Seville

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The EBA publishes key regulatory products on operational risk losses under the EU Banking Package implementation

During her recent visit to the Joint Research Centre in Seville, European Commission President Ursula von der Leyen was introduced to Remonda, a circular economy initiative supported by the EIT Community New European Bauhaus.  The encounter offered an opportunity to showcase how EU-backed innovation can drive local change, empower young talent, and offer tangible solutions […]

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