European Banking Authority rolls out new ESG and third‑country bank reporting rules

The European Banking Authority (EBA) has published revised product‑oversight guidelines for retail banking products with environmental, social and governance (ESG) features. The updated rules aim to curb greenwashing by making ESG considerations explicit throughout the product lifecycle, strengthening consumer protection and requiring clearer information for manufacturers and distributors. The guidelines will be translated into all EU languages and take effect on 11 January 2027.

In a separate but related move, the EBA released the final technical package (version 4.3) of its reporting framework for third‑country bank branches. The package introduces mandatory reporting standards, including validation rules, a Data Point Model and XBRL taxonomies, with the first reporting deadline set for 31 March 2027. It also supports data collection for the new Anti‑Money‑Laundering Authority, with obligations for obliged entities beginning 31 December 2026. The regulator noted that a hot‑fix may be issued by September 2026 to address early‑stage implementation issues.