The EU-U.S. Joint Financial Regulatory Forum convened on June 24-25, 2025, to discuss financial regulatory matters of shared interest. This meeting was co-chaired by the European Commission and the U.S. Department of the Treasury.
EU representatives included members from the European Commission, European Central Bank (ECB), European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA), and Single Resolution Board (SRB). The U.S. delegation comprised officials from the U.S. Department of the Treasury, Federal Reserve Board (FRB), Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Securities and Exchange Commission (SEC).
The discussions centered on seven key themes: market developments and financial stability; digital finance and payments; sustainability-related financial items; EU Savings and Investments Union; banking and insurance; anti-money laundering efforts; capital markets.
Participants addressed global economic concerns, noting that inflation has moderated but risks persist regarding asset valuations. They stressed robust prudential regulations to maintain a stable financial system.
Digital finance discussions included updates on crypto-assets regulations like the EU's Markets in Crypto-Assets Regulation and U.S. policy priorities concerning digital assets. Cross-border payment enhancements were also discussed alongside developments in artificial intelligence use in finance.
Both parties exchanged insights into anti-money laundering advancements, with updates provided on respective regulatory frameworks such as the EU's Anti-Money Laundering Package and U.S.'s implementation of its Anti-Money Laundering Act of 2020.
Banking topics included Basel III reforms implementation, emphasizing consistent regulatory frameworks for international banks' stability. Updates were shared about deposit insurance approaches and resolution planning for banks.
In sustainability-related finance, discussions focused on reducing regulatory burdens while maintaining effectiveness. Capital markets conversations involved settlement cycle shortening in Europe compared to recent changes in the U.S., along with updates on treasury clearing rules.
The forum underscored ongoing dialogue between both regions as vital for addressing mutual concerns affecting financial stability, investor protection, market integrity, and equitable conditions across jurisdictions.
Future engagements are planned ahead of another forum meeting expected later in 2025.
