The clock is already running: 7 December decides T+1
What applies to allocation and confirmation from 7 December 2026, and why the countdown to 11 October 2027 starts there.
Read moreEU law
Germany (national)
Switzerland
Market standard, not a legal act
T+1
T+1 settlement (CSDR amendment, Regulation (EU) 2025/2075)
AMLR/AMLA
AML package: AMLR (Regulation (EU) 2024/1624), AMLD6, AMLA
AI Act
EU AI Act, high-risk AI under Annex III (amended by Regulation (EU) 2026/1744)
DORA
Digital Operational Resilience Act (Regulation (EU) 2022/2554)
PSR/PSD3
Payment Services Regulation (PSR) and Payment Services Directive 3 (PSD3)
FINMA OpRes
FINMA Circular 2023/1 'Operational risks and resilience – banks'
Digital €
Digital euro (proposed regulation COM(2023) 369)
MaRisk 9
MaRisk 9th amendment (BaFin Circular 06/2026) and repeal of the BAIT
FRTB/CRR3
CRR3: FRTB market risk and output floor (Delegated Regulation (EU) 2026/1221)
Basel III CH
Basel III final in Switzerland (Capital Adequacy Ordinance, SR 952.03)
FiDA
Financial Data Access Regulation (FiDA)
eIDAS 2
eIDAS 2 / EUDI Wallet, acceptance obligation under Art. 5f (2) Regulation (EU) 2024/1183
RIS
Retail Investment Strategy (omnibus directive and PRIIPs amendment)
TBTF CH
Too-big-to-fail package Switzerland (Banking Act, parliamentary item of business 26.027, and governance bill)
MiCA
Markets in Crypto-Assets Regulation (MiCA, Regulation (EU) 2023/1114)
Linear axes, with scores rescaled to the range 30–100. Expert assessment based on primary sources, as of 29 October 2026. Regulatory pressure = geometric mean of deadline urgency, breadth of impact and sanction risk, IT impact = geometric mean of depth of change and breadth of affected core systems, each on a scale of 1 to 5. Zones are determined by the sum of both values, and items are numbered by rank. AI Act and DORA have identical values and are placed side by side for legibility.
key takeaways
What the Matrix Shows
01
Three deadlines in five monthsAMLR on 10 July, T+1 on 11 October and high-risk AI on 2 December 2027: all three reach into core systems and compete for the same budgets.
02
Five regulations in the immediate-action zoneT+1, AMLR/AMLA, AI Act, DORA and PSR/PSD3. In 2027 the pressure comes from deadlines, in 2028 from AMLA direct supervision, the DORA review and the new payment rules.
03
FRTB starts in 2027 with capital reliefThe EU has exhausted the deferral period. The multipliers, which apply until the end of 2029, soften the capital impact, but sensitivities, models and data histories still have to be in place by 1 January 2027.
04
Switzerland moves to T+1 on the same day as the EUIt also sets its own course: an output floor of 72.5% from 2028, the too-big-to-fail package in parliament and FINMA's resilience requirement, fully applicable since 2026.
in-depth analysis
Regulations in Detail
AMLA Frankfurt: Europe's Anti-Money Laundering Authority Goes Operational
How the new EU anti-money laundering authority selects its first institutions and what the AMLR requires as of July 2027.
Read moreEU AI Act: What the Postponement to December 2027 Really Means
What the Digital Omnibus changes in the deadlines for high-risk AI and what banks need to build in the meantime.
Read moreGermany reports twice as many third-party failures as Europe
What the 2025 ICT incident reports reveal about German institutions' dependence on third-party providers.
Read morePSR and PSD3: application in September 2028 at the earliest
Agreed in November 2025, Official Journal pending. The procedural status in the European Parliament's Legislative Train Schedule.
View sourceFINMA: operational resilience fully applicable
The text of Circular 2023/1 with the requirements for critical functions and tolerances for disruption.
View sourceFrom Law to Infrastructure: Who Is Building the ECB's Digital Euro Pilot
The 36 payment service providers in the pilot and the open questions in the regulation.
Read moreMore responsibility, fewer rules: What the 9th MaRisk amendment changes for German institutions
What the final version of 30 June 2026 changes for models, AI and outsourcing, and what disappears with the BAIT.
Read moreFRTB for trading banks: What the EU relief through 2029 means for sales and trading
Why the market risk start date of 1 January 2027 stands and what the multipliers change for trading banks.
Read moreBasel III final: output floor of 72.5% from 2028
The Capital Adequacy Ordinance with the transitional steps of the output floor in its current version.
View sourceFiDA Regulation: How EU Regulation Is Transforming the Capital Markets and Asset Management Business of German Banks
The EU regulation on financial data sharing (open finance) and what it means for banks as data holders.
Read moreeIDAS 2: banks must accept the EUDI Wallet by December 2027
The wording of Art. 5f (2) of the eIDAS Regulation: when banks have to accept the European wallet.
View sourceRetail Investment Strategy: agreement in December 2025
The Council's announcement of the agreement on the Retail Investment Strategy.
View sourceToo big to fail: the Federal Council's dispatch
The dispatch of 22 April 2026 on capital backing for foreign participations.
View sourceFirst the venues, now custody: ESMA closes the stablecoin gap by presumption
What the opinion of 8 October 2026 means for crypto-asset service providers and their legacy holdings.
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