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EBA’s Work Programme 2025
Quantitative Risk EBA’s Work Programme 2025
On 02 October 2024, the European Banking Authority (EBA) published its Work Programme for 2025, outlining its plan to fulfil its mission and mandates for the upcoming year, based on EU legislation and its founding regulation. The Programme supports broader EU financial sector priorities, organized into five key areas for the next three years: (i) the EU Single Rulebook, (ii) Financial stability, (iii) Data management, (iv) Oversight of DORA and MiCAR and (v) conduct and AML/CFT supervision. In more detail, in 2025, EBA will address a wide range of mandates related to the financial sector, with a strong focus on implementing the EU banking package (CRR III/CRD VI) to further develop the EU Single Rulebook. Its ongoing analyses, risk metrics and stress – testing methodologies aim to ensure financial stability and address risks from economic and geopolitical developments. Additionally, the EBA will begin overseeing critical 3rd party IT services under DORA and supervising significant crypto – asset providers under MiCAR. It will also establish a new EU AML – CFT framework.
21 Oct 2024
Blockchain and Artificial Intelligence
Distributed Ledger Technology Blockchain and Artificial Intelligence
Blockchain is a shared, immutable ledger that provides an immediate, shared and transparent exchange of encrypted data simultaneously to multiple parties as they initiate and complete transactions. Artificial intelligence (AI) uses computers, data and sometimes machines to mimic the problem-solving and decision-making capabilities of the human mind.
11 Oct 2024
World Food Day: Reducing Food Waste through the "Pay As You Throw" System
Sustainability World Food Day: Reducing Food Waste through the "Pay As You Throw" System
With the slogan "Right to food for a better life and a better future," World Food Day brings to the forefront one of the most serious challenges of our time: food waste. Every year, millions of people suffer from hunger and food insecurity, while about one-third of the food produced globally ends up in the trash. This paradox not only highlights social inequalities but also worsens environmental issues such as climate change, as food waste also means wasting resources like water, energy, and labor.
16 Oct 2024
Trending articles
VAT Update Amendments in Cyprus VAT Law
25 Aug 2020
Transfer Pricing Alert Extension of the submission date for persons who are obliged to submit a Summarized Information Table (SIT) for tax years 2022 and 2023
George Karavis
George Karavis
| 1 min read | 30 Oct 2024
Transfer Pricing Alert Update on the submission of the Summarized Information Table (SIT) for 2022
George Karavis
George Karavis
| 1 min read | 05 Jun 2024
Tax update Transfer pricing: new rules as of 1 January 2022
George Karavis
George Karavis
| 3 min read | 12 Jul 2022
Our latest insights
Embracing Sustainability: The Critical Role of Zero Waste in Fashion and Textiles
Sustainability Embracing Sustainability: The Critical Role of Zero Waste in Fashion and Textiles
World "Zero Waste Day" serves as a powerful reminder of the critical need to address waste across all sectors. This year's theme, "Towards Zero Waste in Fashion and Textiles," highlights the significant impact of the fashion industry on global waste and the environment. The fashion and textile industry has long been a major contributor to environmental degradation, and as demand for fast fashion continues to grow, it is essential to rethink production, consumption, and disposal practices to reduce waste and promote sustainability. Valued at USD 1.3 trillion and employing over 300 million people globally, the industry is a significant economic force with a substantial environmental footprint.
30 Mar 2025
AI Literacy: The Key to Thriving in an AI-Driven World
AI and Data Lab AI Literacy: The Key to Thriving in an AI-Driven World
Imagine arriving at work to find that overnight, your role has fundamentally changed. Your emails are drafted before you even open them, meetings are automatically summarised, and reports that used to take hours are now generated in seconds. The office buzzes with conversations about AI-driven strategies—except you’re struggling to keep up. Would you embrace this shift, or feel left behind?
19 Mar 2025
Women in Business 2025
IBR Women in Business 2025
Our latest Women in Business report reveals the pace towards parity in mid-market firms isn’t moving fast enough.
05 Mar 2025
Is Artificial Intelligence the next big thing in accountancy or the end of the profession as we know it?
AI and Data Lab Is Artificial Intelligence the next big thing in accountancy or the end of the profession as we know it?
Imagine a world where accountants work smarter, not harder – where software not only records transactions, but also analyses them, identifying trends and opportunities that might otherwise go unnoticed. Although this may sound like something out of a sci-fi movie, AI is making this vision a reality, transforming traditional processes and paving the way for exciting new innovations.
25 Feb 2025
Deep Learning: What is it really?
AI and Data Lab Deep Learning: What is it really?
To be completely honest, I was pretty intimidated when I first heard about Deep Learning. The words deep and learning made it sound like something only super-smart people could understand! But once I got the hang of it, I was totally fascinated by how it works. It's like a machine that thinks and learns just like our brain does - pretty cool, right? So, let's go on a fun journey together to learn all about Deep Learning and how it's going to change our lives in the future, explaining it simply.
13 Feb 2025
Cyprus Tax Facts 2025
Tax/ VAT Cyprus Tax Facts 2025
Welcome to the 2025 edition of Cyprus Tax Facts. We are delighted to present our updated comprehensive guide, offering essential insights into the latest advancements in tax legislation.
24 Jan 2025
Technology & Beyond Survey
SURVEY Technology & Beyond Survey
In continuation of our successful survey which took place last year, and in an effort to build on valuable and quality conclusions, we are pleased to announce the relaunch of the “DPO (Data Protection Officer) function” survey. This year, the survey is carried out with the collaboration of 10 other Grant Thornton member firms across Europe.
23 Jan 2025
ML: What is it really?
AI and Data Lab ML: What is it really?
Machine Learning is, as its name defines it, a machine who learns. The first reference of Machine Learning dates back to 1959 and attributed to artificial intelligence and computer gaming pioneer; Arthur Lee Samuel. 63 years later and “self-teaching computers” (another term for Machine Learning) are revolutionising every industry, from healthcare to finance, marketing, and agriculture.
21 Jan 2025
GenAI: What is it really?
AI and Data Lab GenAI: What is it really?
Generative AI is a type of artificial intelligence that creates new content such as text, images, music, or even ideas. Unlike traditional AI, which follows rules to provide answers, generative AI leverages what it has learned from large datasets and uses it to produce something following a request from a user.
15 Jan 2025
Extension of the submission date for persons who are obliged to submit a Summarized Information Table (SIT) for tax years 2022 and 2023
Transfer Pricing Alert Extension of the submission date for persons who are obliged to submit a Summarized Information Table (SIT) for tax years 2022 and 2023
On 25 October 2024, the Cyprus Tax Department (“CTD”) released an announcement informing all taxpayers that the Council of Ministers in their latest meeting decided to extend the date of submission of the Income Tax Return, for persons who have an obligation to submit a SIT for their controlled transactions for 2022 and 2023 as follows: • Income Tax Return 2022: extension until 28 February 2025 • Income Tax Return 2023: extension until 30 November 2025
George Karavis
George Karavis
| 1 min read | 30 Oct 2024
EBA’s Work Programme 2025
Quantitative Risk EBA’s Work Programme 2025
On 02 October 2024, the European Banking Authority (EBA) published its Work Programme for 2025, outlining its plan to fulfil its mission and mandates for the upcoming year, based on EU legislation and its founding regulation. The Programme supports broader EU financial sector priorities, organized into five key areas for the next three years: (i) the EU Single Rulebook, (ii) Financial stability, (iii) Data management, (iv) Oversight of DORA and MiCAR and (v) conduct and AML/CFT supervision. In more detail, in 2025, EBA will address a wide range of mandates related to the financial sector, with a strong focus on implementing the EU banking package (CRR III/CRD VI) to further develop the EU Single Rulebook. Its ongoing analyses, risk metrics and stress – testing methodologies aim to ensure financial stability and address risks from economic and geopolitical developments. Additionally, the EBA will begin overseeing critical 3rd party IT services under DORA and supervising significant crypto – asset providers under MiCAR. It will also establish a new EU AML – CFT framework.
21 Oct 2024
World Food Day: Reducing Food Waste through the "Pay As You Throw" System
Sustainability World Food Day: Reducing Food Waste through the "Pay As You Throw" System
With the slogan "Right to food for a better life and a better future," World Food Day brings to the forefront one of the most serious challenges of our time: food waste. Every year, millions of people suffer from hunger and food insecurity, while about one-third of the food produced globally ends up in the trash. This paradox not only highlights social inequalities but also worsens environmental issues such as climate change, as food waste also means wasting resources like water, energy, and labor.
16 Oct 2024
Blockchain and Artificial Intelligence
Distributed Ledger Technology Blockchain and Artificial Intelligence
Blockchain is a shared, immutable ledger that provides an immediate, shared and transparent exchange of encrypted data simultaneously to multiple parties as they initiate and complete transactions. Artificial intelligence (AI) uses computers, data and sometimes machines to mimic the problem-solving and decision-making capabilities of the human mind.
11 Oct 2024
Net Zero: A Business Imperative for a Resilient Future
Sustainability Net Zero: A Business Imperative for a Resilient Future
In an era defined by climate change, businesses are increasingly recognizing the critical need to take real action. "Net zero" has evolved from an environmental goal to a core business imperative, shaping strategies for long-term success and resilience. As the global economy slowly but steadily shifts toward sustainability, companies that fail to adapt, risk being left behind. Achieving net zero emissions is no longer just about environmental responsibility—it's a pathway to innovation, financial stability, and future-proofing operations in an unpredictable world. A resilient future depends on businesses that lead the charge toward carbon neutrality.
21 Sep 2024
Climate Scenario Analysis and Emerging Regulatory Standards
Quantitative Risk Climate Scenario Analysis and Emerging Regulatory Standards
The publication from BIS highlights the significance of climate scenario analysis in financial institutions, particularly in the context of emerging regulatory standards. The increasing awareness of climate change as a global risk has led to a need for more advanced methods of assessing potential financial impacts. Climate Scenario analysis provides a forward – looking approach, which is crucial in navigating the uncertain landscape of climate – related risks. The publication also emphasizes the growing challenges associated with the adoption of these methods. To address these challenges and enhance transparency, regulatory bodies such as the ISSB, have introduced new standards, which aim to improve the quality of climate – related disclosures.
11 Sep 2024
The EBA sets 2025 priorities for resolution authorities and reports on the progress achieved in 2023.
Quantitative Risk The EBA sets 2025 priorities for resolution authorities and reports on the progress achieved in 2023.
The publication from the EBA sets out the priorities for resolution authorities for 2025 and reports on the progress achieved in 2023. It focuses on ensuring the effective implementation of resolution strategies, enhancing management information systems for valuation, and improving liquidity strategies during resolution. The report also highlights the challenges encountered and the measures taken by resolution authorities to improve banks' resolvability and readiness to handle financial crises effectively.
05 Sep 2024
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