Reforms and Law Proposals – September 2026

1. Financial Supervisory Authority: Macroprudential Decision: Banks’ Countercyclical Capital Buffer Requirement and Relaxed Loan Cap Remain Unchanged 

The Board of the Financial Supervisory Authority (FIN-FSA) is extending the validity of its decision to raise the loan cap for loans other than first-home loans, so that it will remain at 95%. The loan cap for credit taken out to purchase a first home will also remain at its basic level of 95%. In addition, the Board is keeping banks’ countercyclical capital buffer requirement at 0.0% and approves the application of Denmark’s updated sectoral systemic risk buffer to Finnish banks’ exposures to Danish real estate companies.

Based on a review of the key risk indicators, risks indicating overheating of the financial cycle remain low. The primary risk indicator, i.e. the deviation of the private sector credit-to-GDP ratio from its trend, fell in the first quarter of 2026 to its lowest level in the cycle so far (−21.5 percentage points). The trend deviation calculated using a narrow definition of the credit stock also fell to its lowest level in the cycle (−13.1 percentage points). Nor do the other risk indicators show any increase in systemic risks related to overheating of the credit cycle, and the countercyclical capital buffer requirement will therefore remain at 0.0%.

Makrovakauspäätös: Pankkien muuttuva lisäpääomavaatimus ja kevennetty lainakatto säilyvät ennallaan – 2026 | Finanssivalvonta

2. ECB: Monetary Policy decision 

The Governing Council decided to raise the three key ECB interest rates by 25 basis points. Accordingly, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be increased to 2.50%, 2.65% and 2.90% respectively, with effect from 16 September 2026. 

The baseline of the new ECB staff projections sees headline inflation averaging 3.0% in 2026, 2.5% in 2027 and 2.1% in 2028. For inflation excluding energy and food, the baseline foresees 2.5% in 2026, 2.6% in 2027 and 2.3% in 2028. Compared with June, the baseline projection for inflation in 2026 is unchanged, while it has been revised up for 2027 and 2028. The baseline projection for economic growth is 0.9% for 2026, 1.4% for 2027 and 1.5% for 2028. This is an upward revision for both 2026 and 2027, mainly reflecting the greater than expected resilience of the euro area economy. 

Monetary policy decisions | European Central Bank

3. European Commission: Commission proposes simpler and more strategic Public Procurement rules 

Drawing on extensive consultations with public buyers, businesses, trade unions, and civil society, the Commission is proposing an ambitious reform to make public procurement simpler, more flexible, and more effective. Key to simplification and administrative burden reduction is the creation of an integrated digital procurement marketplace consisting of interconnected and interoperable Member States’ eProcurement platforms.

The revision was announced in President von der Leyen’s Political Guidelines. It responds to long-standing shortcomings identified by the European Court of Auditors, including declining competition, limited SME and cross-border participation, and the rise of single-bid procedures. It also follows calls from the Council of the EU and the European Parliament for a strategic, simplified, and competitive framework. 

Commission proposes simpler and more strategic Public Procurement rules | European Commission

4. Finnish Government: Reforms Proposed to Basic Banking Services

Basic banking services are essential in today’s society for practically all customer groups. Companies and associations have not had the same rights to basic banking services as private individuals. With the government proposal, the right to basic banking services would be extended to cover micro and small enterprises, self-employed persons, associations, foundations and jointly owned entities, such as road and water cooperatives.

The aim of the government proposal is to ensure, among other things, basic banking services for micro and small enterprises and their reasonable pricing, which would strengthen the conditions for starting a business and engaging in business activities.

Peruspankkipalveluihin ehdotetaan uudistuksia | Valtioneuvosto

5. European Commission: Making data centers energy efficient thanks to a new EU rating system

Data centres are essential to Europe’s digital future. They are also one of the world’s fastest growing sectors, projected to consume more than 3% of overall electricity demand in the EU by 2030, according to the International Energy Agency. This growth puts pressure on electricity grids and the use of natural resources, such as water, and contributes to increased carbon emissions. To limit these impacts, the European Commission has proposed a common rating scheme for data centers aimed at increasing transparency on their energy use and supporting their sustainable integration into Europe’s energy system. 

The EU is looking to triple its data centre capacity over the next five to seven years. The new common rating scheme will cover individual data centres with a capacity above 500 kW and will: 

-ensure transparent information about the actual use of resources (energy, water) by data centres 

-cover data centres’ contribution to the grid, such as the reuse of waste heat and the addition of clean energy generation capacities 

-offer flexibility. 

In a time when we need to be careful with our resources, sustainable, flexible and well-designed data centres that can adjust their electricity use to the grid’s conditions can help lower the overall cost of the electricity system, improve grid stability, and integrate more renewable energy. For example, reusing around half of the total waste heat from data centres in Europe corresponds to the heating demand of four million households.

Making data centres energy efficient thanks to a new EU rating system | European Commission