Review of Regulation (EU) 2025/925 (BRIDGEforEU)
Regulation (EU) 2025/925, also known as BRIDGEforEU, establishes a voluntary framework for Member States to identify and resolve legislative or administrative obstacles hindering cross-border activities and public services in EU border regions. It introduces cross-border coordination points within Member States to facilitate the handling of cross-border issues and promotes the use of a “Cross-Border Facilitation Tool” to address identified obstacles.
The Regulation defines key terms such as “cross-border interaction,” “cross-border obstacle,” and “initiator,” and it applies to land and maritime border regions within the EU. It details the establishment, organization, and tasks of cross-border coordination points, allowing for joint coordination points between neighboring countries and specifying their role as liaisons for initiators of cross-border projects. The Regulation outlines the process for preparing and submitting cross-border files, including the required content and the assessment steps to be taken by the coordination points or competent authorities. It sets time limits for responding to initiators and outlines procedures for handling files that fall under the competence of another Member State.
The Cross-Border Facilitation Tool procedure involves informing the initiator of the identified obstacle and engaging with relevant authorities to find solutions, whether through amending administrative provisions or initiating legislative changes. The Commission is assigned coordination tasks, including setting up a public register of cross-border files, supporting capacity building in Member States, and promoting the exchange of experiences. A review of the regulation’s implementation is mandated by 2030.
Key articles define the scope of the Regulation, determine how Member States can set up coordination points, specify who can submit a cross-border file, list the essential elements of a cross-border file, describe the process for assessing cross-border files, and detail the steps involved in using the Cross-Border Facilitation Tool.
Review of Regulation (EU) 2025/914 amending Regulation (EU) 2016/1011
Regulation (EU) 2025/914 amends Regulation (EU) 2016/1011, focusing on benchmarks used in financial instruments and contracts. The amendments aim to streamline reporting requirements, reduce the regulatory burden on administrators of smaller benchmarks, and refine rules for third-country benchmarks used in the Union. The regulation also addresses specific issues related to climate transition benchmarks, Paris-aligned benchmarks and commodity benchmarks.
The regulation modifies several articles of Regulation (EU) 2016/1011. It narrows the scope of Titles II, III, IV, V, and VI to critical benchmarks, significant benchmarks, EU Climate Transition Benchmarks, and EU Paris-aligned Benchmarks. It introduces an opt-in regime for administrators wishing to have their benchmarks designated as significant. The regulation also empowers the Commission to exempt spot foreign exchange benchmarks under certain conditions, particularly where currency controls apply in third countries. It removes the requirement for administrators of significant benchmarks to provide an EU Climate Transition Benchmark or an EU Paris-aligned Benchmark, but encourages the provision of such benchmarks. The amended regulation also includes provisions for monitoring and notification when a benchmark reaches a certain threshold of use in the Union, and it allows competent authorities or ESMA to designate benchmarks as significant under specific conditions. It also addresses the supervision and use of EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks, as well as commodity benchmarks.
Key provisions include the revised scope of application, focusing on significant and critical benchmarks, and the introduction of a threshold for determining significant benchmarks based on their use in financial instruments and contracts. The regulation also details the conditions under which benchmarks can be designated as significant by competent authorities or ESMA, even if they do not meet the threshold. Furthermore, the regulation sets out requirements for administrators of significant benchmarks, including authorization, registration, recognition, or endorsement, and it allows for public notices to be issued if benchmarks do not comply with the regulation. The new rules also clarify the use of third-country benchmarks and introduce measures for the transition of supervisory responsibilities to ESMA.
Review of each of legal acts published today:
Regulation (EU) 2025/925 of the European Parliament and of the Council of 7 May 2025 on a Border Regions’ instrument for development and growth (BRIDGEforEU)
Here’s a breakdown of Regulation (EU) 2025/925, designed to help you understand its key aspects:
**1. Essence of the Act:**
Regulation (EU) 2025/925, known as BRIDGEforEU, aims to boost development and growth in EU border regions by establishing a framework to identify and resolve cross-border obstacles. It focuses on legislative or administrative issues that hinder cross-border activities and public services, offering a voluntary tool for Member States to cooperate and coordinate their efforts in overcoming these barriers. The regulation introduces cross-border coordination points within Member States to facilitate the handling of cross-border issues and promotes the use of a “Cross-Border Facilitation Tool” to address identified obstacles.
**2. Structure and Main Provisions:**
The Regulation is structured into five chapters:
* **Chapter I (General Provisions):** Defines the subject matter, scope, and key terms like “cross-border interaction,” “cross-border obstacle,” and “initiator.” It clarifies that the regulation applies to land and maritime border regions within the EU, but not to borders with third countries.
* **Chapter II (Cross-Border Coordination Points and Relevant Authorities):** Outlines the establishment, organization, and tasks of cross-border coordination points within Member States. It allows for joint coordination points between neighboring countries and specifies their role as liaisons for initiators of cross-border projects. It also addresses the situation where a Member State does not establish a coordination point, requiring them to provide information on a relevant authority.
* **Chapter III (Cross-Border Files):** Details the process for preparing and submitting cross-border files, including the required content and the assessment steps to be taken by the coordination points or competent authorities. It sets time limits for responding to initiators and outlines procedures for handling files that fall under the competence of another Member State.
* **Chapter IV (Cross-Border Facilitation Tool):** Describes the specific procedure to be followed when the Cross-Border Facilitation Tool is applied. This includes informing the initiator of the identified obstacle and engaging with relevant authorities to find solutions, whether through amending administrative provisions or initiating legislative changes.
* **Chapter V (Final Provisions):** Assigns coordination tasks to the Commission, including setting up a public register of cross-border files, supporting capacity building in Member States, and promoting the exchange of experiences. It also mandates a review of the regulation’s implementation by 2030.
**3. Main Provisions Important for Use:**
* **Article 1 (Subject matter):** Defines the scope of the Regulation, focusing on infrastructure and public services that foster economic, social, and territorial cohesion in border regions.
* **Article 4 (Establishment of cross-border coordination points):** Determines how Member States can set up coordination points, either as part of existing entities or as separate bodies.
* **Article 7 (Preparation and submission of cross-border files):** Specifies who can submit a cross-border file (the “initiator”) and where it should be submitted.
* **Article 8 (Content of cross-border files):** Lists the essential elements that must be included in a cross-border file, such as a description of the problem, its impact, and the geographical area concerned.
* **Article 9 (Assessment steps):** Describes the process for assessing cross-border files, including the identification of obstacles and potential solutions.
* **Articles 11 and 12 (Procedure, Final steps):** Detail the steps involved in using the Cross-Border Facilitation Tool, from identifying the obstacle to implementing solutions and informing the initiator of the outcome.
Regulation (EU) 2025/914 of the European Parliament and of the Council of 7 May 2025 amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the Union of benchmarks provided by an administrator located in a third country, and certain reporting requirements (Text with EEA relevance)
Regulation (EU) 2025/914 of the European Parliament and of the Council amends Regulation (EU) 2016/1011, focusing on benchmarks used in financial instruments and contracts. The amendments aim to streamline reporting requirements, reduce the regulatory burden on administrators of smaller benchmarks, and refine rules for third-country benchmarks used in the Union. The regulation also addresses specific issues related to climate transition benchmarks, Paris-aligned benchmarks and commodity benchmarks.
The regulation modifies several articles of Regulation (EU) 2016/1011. It narrows the scope of Titles II, III, IV, V, and VI to critical benchmarks, significant benchmarks, EU Climate Transition Benchmarks, and EU Paris-aligned Benchmarks. It introduces an opt-in regime for administrators wishing to have their benchmarks designated as significant. The regulation also empowers the Commission to exempt spot foreign exchange benchmarks under certain conditions, particularly where currency controls apply in third countries. It removes the requirement for administrators of significant benchmarks to provide an EU Climate Transition Benchmark or an EU Paris-aligned Benchmark, but encourages the provision of such benchmarks. The amended regulation also includes provisions for monitoring and notification when a benchmark reaches a certain threshold of use in the Union, and it allows competent authorities or ESMA to designate benchmarks as significant under specific conditions. It also addresses the supervision and use of EU Climate Transition Benchmarks and EU Paris-aligned Benchmarks, as well as commodity benchmarks.
Key provisions include the revised scope of application, focusing on significant and critical benchmarks, and the introduction of a threshold for determining significant benchmarks based on their use in financial instruments and contracts. The regulation also details the conditions under which benchmarks can be designated as significant by competent authorities or ESMA, even if they do not meet the threshold. Furthermore, the regulation sets out requirements for administrators of significant benchmarks, including authorization, registration, recognition, or endorsement, and it allows for public notices to be issued if benchmarks do not comply with the regulation. The new rules also clarify the use of third-country benchmarks and introduce measures for the transition of supervisory responsibilities to ESMA.
