Banking and Financial Newsletter – June 2026
| Banque Finance |
1. Banking services
1.1. Texts and Publications by authorities
– FR I Banque de France / French Ministry of the Economy, 7 May 2026 | Launch of the suspicious IBAN platform: FNC-RF goes live
On 7 May 2026, the French Ministry of the Economy and the Banque de France announced the operational launch of the national register of accounts flagged as presenting fraud risk (the “FNC-RF”), also presented as the suspicious IBAN register.
As a reminder, this mechanism, created by the Law of 6 November 2025, aims to strengthen the fight against fraud based on manipulation of victims or the use of fraudulent beneficiary accounts. Managed by the Banque de France and fed by payment service providers, the FNC-RF enables the relevant institutions to report accounts presenting a fraud risk, thereby facilitating information-sharing and enhancing the early detection of fraudulent schemes.
– FR I ACPR, updated on 7 May 2026 | Guide “Formalities, reporting and notifications – banking and payments sector”
On 7 May 2026, the ACPR updated its guide on formalities, reporting and notifications applicable in the banking and payments sector.
Published for informational purposes, the guide sets out the main submission and notification channels used by institutions, including the ACPR portal, OneGate and Ermes, as well as the principal reporting obligations applicable to prudential matters, AML/CFT, customer protection, payment instruments and digital operational resilience.
1.2. Case Law
– FR I Cour de cassation, First Civil Chamber, 6 May 2026, No. 24-22.196 and No. 24-22.197 | Cross-border transfer fraud: location of the financial loss
In two judgments dated 6 May 2026, the First Civil Chamber of the French Cour de cassation clarified the analysis of the location of damage in cases involving transfers made from French bank accounts to accounts held with an institution located in another Member State.
The Court rejected the appeal decisions that had applied Portuguese law without sufficiently establishing the place where the financial loss had materialised. It thus recalled that the location of the damage cannot be inferred automatically either from the place where the funds were received or from the place of the event giving rise to the damage.
– FR I Cour de cassation, Commercial Chamber, 6 May 2026, No. 23-23.937 | Set-off of connected claims in insolvency proceedings: requirement for a single contractual framework
The Commercial Chamber of the French Cour de cassation clarified the conditions under which the set-off of connected claims may occur despite the opening of insolvency proceedings, as an exception to the principle prohibiting payment of claims predating the opening judgment. In this case, a bank argued that its claim against the principal debtor could be set off against the claim held by that debtor against the bank.
The Court rejected this analysis, holding that the claims in question did not arise from a single contractual framework and therefore could not be regarded as connected. It recalled that the mere economic unity of the transaction is not sufficient to characterise the required connection, which presupposes that the reciprocal claims originate from the same legal basis.
2.AML/CFT
– EU I AMLA, 12 May 2026 | Reporting package for the identification of entities potentially subject to direct supervision
On 12 May 2026, the European Anti-Money Laundering and Countering the Financing of Terrorism Authority (“AMLA”) published a reporting package for the identification of provisionally eligible obliged entities that may be placed under its direct supervision definitively as from 2028.
The reporting package includes a standardised reporting template and an interpretative note intended to clarify the applicable specifications.
The timetable has now been clarified: national supervisors will have to collect the data by 15 August 2026, before a correction and alignment phase with the home supervisors.
AMLA also announced that it will hold a technical webinar on 10 June 2026 to present, in operational terms, the reporting template and the expected data collection process.
The provisional list of eligible entities is expected to be finalised by the end of September 2026.
– EU I AMLA, April-July 2026 | Consultations on risk assessment, group requirements, branches and subsidiaries located in third countries and cooperation between supervisors
AMLA has launched several public consultations relating to the future European AML/CFT framework. These consultations concern, on the one hand, guidelines on business-wide risk assessment and, on the other hand, regulatory technical standards (RTS) on the AML/CFT requirements applicable to groups, including additional measures applicable to subsidiaries and branches located in third countries.
The first draft concerns the business-wide risk assessment and sets out minimum expectations applicable to obliged entities. This consultation is open until 15 July 2026.
The draft RTS on group requirements concerns consolidated AML/CFT frameworks, in particular in cross-border situations and where entities operate in third countries.
This consultation is open until 15 June 2026.
3. Prudential regulation
– EU I EBA, 7 May 2026 | Amendments to the guidelines on the definition of default
On 7 May 2026, the European Banking Authority published its final report amending the guidelines on the application of the definition of default.
These amendments are intended, in particular, to better take into account certain specific features of non-recourse factoring and to confirm the applicability of the 1% threshold in that context.
The objective is to ensure a more consistent application of the CRR framework across the European Union.
– EU I EBA, consultation open until 10 July 2026 | Simplification of prudential reporting
The EBA has launched a consultation on a simplification package for the implementing technical standards on prudential reporting. The consultation is open from 10 April to 10 July 2026 and forms part of the objective of making the reporting framework more streamlined, more proportionate and more efficient for institutions.
The draft aims, in particular, to streamline certain reporting obligations and reduce the operational burden on institutions, while maintaining supervisors’ ability to obtain the information needed for prudential monitoring.
4. Disciplinary sanctions
– FR I ACPR, Sanctions Committee, decision of 13 May 2026 | Reprimand and EUR 20 million financial penalty imposed on Société Générale
By a decision of 13 May 2026, the ACPR Sanctions Committee issued a reprimand and imposed a EUR 20 million financial penalty on Société Générale in its capacity as an insurance intermediary. The decision will be published in nominative form for five years, then in a form that no longer enables the institution to be identified.
The proceedings concerned the marketing of insurance contracts as part of retail banking activities in France, in particular within bundled banking services offers. The Committee found several breaches relating to pre-contractual information obligations, the delivery of the insurance product information document, the collection of the customer’s demands and needs, and the formalisation of the advice provided.