Progress on financial services legislative files

The Economic and Financial Affairs Council (ECOFIN) has published an updated version of its document containing „information from the Presidency concerning the state of play of legislative proposals in the field of financial services“. The overview table is dated 14 July 2023 and distinguishes different colour-coded stages of each file.
The changes are as follows:
1. Due to the provisional agreement reached with the EP on 27 June 2023, the „trilogues„ on the Basel III implementation comprising amendments to the Capital Requirements Regulation (CRR) and the Capital Requirements Directive (CRD IV) are „in finalisation„;
2. So are the „interinstitutional negotiations„ concerning the Central Securities Depositories Regulation (CSDR) „Refit“;
3. As the Council and the EP reached a provisional agreement on 29 June 2023, the „trilogues„ on the CMU Package (amendments to MiFID/ MiFIR) are „in finalisation„ as well;
4. The Council’s „review„ is about „to start„ concerning:
– the new „Open Finance package“ comprising the proposal for a Regulation on a Framework for Financial Data Access and the proposal for a Directive on payment services (PSD3) as well as a Regulation on payment services (PSR); and
– the „Digital Euro package“ including the proposal for a Regulation on the establishment of the digital euro and a proposed Regulation on the provision of digital euro services by payment services providers incorporated in Member States whose currency is not the euro.