The Council's Financial Services Committee (FSC) has scheduled a meeting for 9 September 2026 at 09:30 in the Justus Lipsius building in Brussels, according to a notice of meeting and provisional agenda issued by the Council General Secretariat on 30 July 2026 (document CM 3808/1/26 REV 1). The agenda covers six items, including a progress update on the implementation of the Markets in Crypto-Assets (MiCA) regulation, a discussion on shifting to a one-day settlement cycle (T+1), and a presentation of findings from a report on the competitiveness of the EU banking sector. No decisions are pre-announced; the meeting is set to review ongoing monitoring activities, receive a quarterly update on financial risks, and take stock of banks' resolvability and related policy topics.
The FSC, which prepares the work of the Economic and Financial Affairs Council (ECOFIN) on financial services, will convene in format 1+1, indicating that each member state delegation may send one delegate plus one accompanying expert. The meeting notice was circulated to delegations via the Delegates Portal, with the Council General Secretariat serving as the issuing body.
The agenda reflects several ongoing EU financial services priorities. The MiCA implementation update comes as the regulation's full application deadlines approach, with the European Commission and the European Securities and Markets Authority (ESMA) having previously issued technical standards and guidance. The discussion on T+1 settlement aligns with broader international moves toward shorter settlement cycles, following similar initiatives in the United States and Canada. The competitiveness report on the EU banking sector is expected to feed into ongoing debates about the Banking Union and the Capital Markets Union, particularly regarding the bloc's ability to compete globally.
The meeting will also include a standard quarterly risk assessment briefing and a review of the 2026 Structured Monitoring activities, which track the implementation of financial services legislation. The update on banks' resolvability will cover progress on resolution planning under the Bank Recovery and Resolution Directive (BRRD) and the Single Resolution Mechanism.
Stakeholders likely to be affected include crypto-asset service providers and issuers, who face compliance obligations under MiCA; EU banks and financial market infrastructures, which would need to adapt their systems and processes for a T+1 settlement cycle; and national supervisory authorities, which are responsible for implementing these frameworks. The competitiveness report could influence future policy directions, potentially affecting the regulatory burden on EU banks relative to international peers.
Following the FSC meeting, its conclusions and recommendations are typically forwarded to ECOFIN, which may take formal decisions on related legislative or non-legislative proposals. The European Parliament is also expected to play a role, particularly on any legislative follow-up to the competitiveness report or changes to settlement rules.