Policy Briefs

27Feb
2026

Payment sovereignty without walls: the case for Europe’s multi-rail ecosystem

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The debate on European payment sovereignty has intensified amid geopolitical tensions and growing concerns about the dominance of non-EU card schemes.

29Jan
2026

The economic costs of restricting global stablecoins – and how to mitigate the risks

Published in: 
Policy Briefs
Author(s): 
Judith Arnal, Dr Matthew Osborne

While the EU has established a comprehensive framework for crypto-assets under the Markets in Crypto-Assets Regulation (MiCA), growing institutional scepticism towards multi-issu

26Nov
2025

Tackling the twin paradox of EU financial regulation

Published in: 
Policy Briefs

The Lamfalussy process has generated two opposing distortions.

28Aug
2025

EU simplification will fail without better governance: Three necessary reforms to make sure it doesn’t fail

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

The EU has long been seen as a global regulatory power, exporting its standards across the world through what’s commonly known as the ‘Brussels Effect.’ However, newer frameworks

18Jun
2025

How to ensure a safer future for retail payments: Aligning fraud prevention and accountability in the EU

Published in: 
Policy Briefs
Author(s): 
Judith Arnal

Retail payment fraud is a structural challenge that no longer falls solely within the remit of payment service providers (PSPs).

02May
2024

Ten years of the SSM: The past, present and future of banking supervision in the Banking Union

Published in: 
Policy Briefs
Author(s): 
Judith Arnal, Apostolos Thomadakis

European banking supervision will have been operational for ten years come November 2024.

24Feb
2022

The EU is homing in on dirty money

Published in: 
Policy Briefs
Author(s): 
Karel Lannoo

The EU is getting serious in the fight against dirty money. It is currently grappling with a huge legislative package in the domain of anti-money laundering (AML), a package that includes four proposals overall

05Sep
2018

Consumer Credit, Digitalisation and Behavioural Economics: Are new protection rules needed?

Published in: 
Policy Briefs
Author(s): 
Janna Ayoub

In 2008, the Consumer Credit Directive (CCD) was significantly changed by adopting a targeted harmonisation approach that aimed at standardising information disclosure duties and imposing similar r

06Dec
2013

Transaction Banking: Respecting its role in the real economy

Published in: 
Policy Briefs
Author(s): 
Ales Chmelar

This paper sketches the main features and issues related to recent market developments in global transaction banking (GTB), particularly in trade finance, cash management and correspondent banking. It describes the basic functioning of the GTB, its interaction with global financial markets and re-lated implications of global regulatory developments such as Basel III.

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