This Week in Finance — Brussels (#29, 2026)
ECB updates statistics rules for banks; Council authorises Spain to cut fuel excise; Ukraine Facility receives Norway funds; Commission refers Belgium, Hungary, Spain to Court over investor-state disputes.
September 28, 2026 to October 04, 2026
ECB updates statistics rules for banks; Council authorises Spain to cut fuel excise; Ukraine Facility receives Norway funds; Commission refers Belgium, Hungary, Spain to Court over investor-state disputes.
📋 In This Week's Newsletter
• 📅 This Week's Calendar in Brussels
• 🇪🇺 European Commission
• ⚖️ EU Legislation
• 🤝 EU Council
This Week's Calendar in Brussels
- Committee on Budgets (BUDG): On October 05, the European Parliament's Committee on Budgets (BUDG) is scheduled to meet. Agenda includes: ------; Chair’s announcements; Date of next meetings.
- Eurogroup: On October 08, the EU Council's Eurogroup configuration is scheduled to hold an eurogroup ministerial meeting in Brussels.
- Committee on Legal Affairs (JURI): On October 08, the European Parliament's Committee on Legal Affairs (JURI) is scheduled to meet. Agenda includes: * * *; Amending Regulation (EU) 2019/1753 as regards amendments adopted by the Assembly of the Lisbon Union on 14 July 2025 to the Common Regulations under the Lisbon Agreement on Appellations of Origin and Geographical Indications; Amendments to the Decision of the European Parliament of 28 September 2005 adopting the Statute for Members of the European Parliament, regarding proxy voting.
- Economic and Financial Affairs Council: On October 09, the EU Council's Economic and Financial Affairs Council configuration is scheduled to hold an ministerial meeting in Brussels.
European Commission
Commission refers Belgium to Court of Justice over investor-State arbitration awards
On 30 September 2026, the European Commission decided to refer Belgium (INFR(2025)2199) to the Court of Justice of the European Union. The referral concerns Belgium's recognition of investor-State arbitration awards that the Commission considers to violate the principle of autonomy of EU law. These awards, resulting from a renewable energy scheme modification, were made enforceable in Belgium prior to Commission State aid approval. According to the Commission, this action risks forcing Member States to pay compensation in breach of Articles 267 and 344 TFEU, the standstill obligation in Article 108(3) TFEU, and Commission decision SA.40348. The Commission had previously sent a letter of formal notice in December 2025 and a reasoned opinion in April 2026.
Commission refers Hungary to Court of Justice over intra-EU investor-State arbitration
On 30 September 2026, the European Commission decided to refer Hungary (INFR(2025)2204) to the Court of Justice of the European Union. The Commission alleges that Hungary failed to prevent violations of the prohibition on intra-EU investor-State arbitration, as established by the Court of Justice in Case C-741/19 (Komstroy judgment). The matter involves MOL, a state-controlled entity, bringing arbitration against another Member State under Article 26 of the Energy Charter Treaty and seeking enforcement of awards in third-country courts. The Commission sent a formal notice in December 2025 and a reasoned opinion in April 2026.
Commission refers Spain to Court of Justice for non-compliance on State liability for EU law breaches
On 30 September 2026, the European Commission referred Spain (INFR(2017)4004) to the Court of Justice of the European Union for not implementing the June 2022 judgment in case C-278/20. The original judgment found that Spanish rules made it excessively difficult for individuals to claim compensation for damages caused by State legislation contrary to Union law. Despite a reasoned opinion in January 2018 and subsequent exchanges, Spain has not amended the relevant laws (Law 40/2015 and Law 39/2015). The Commission may seek financial penalties if the Court finds continued non-compliance.
EU Legislation (Official Journal)
ECB updates Guideline on balance sheet and interest rate statistics for monetary financial institutions
Guideline (EU) 2026/2169 of 15 September 2026 amends Guideline (EU) 2021/830 (ECB/2021/11) to enhance statistical data reporting by monetary financial institutions. The amendment updates requirements on reporting of balance sheet items and interest rate statistics, aligns economic activity classification with NACE Rev. 2.1, and expands the reference population. The new guideline takes effect on notification, with certain provisions applying from January and April 2027.
Council authorises Spain to apply reduced excise rates on fuel
Council Implementing Decision (EU) 2026/2194 of 22 September 2026 authorises Spain to apply reduced rates of excise duty to gas oil and unleaded petrol under Article 19 of Directive 2003/96/EC. The temporary measure addresses energy price shocks linked to geopolitical developments in the Middle East. The authorisation is valid until 30 September 2026.
Norway provides additional funding to Ukraine Facility
Council Implementing Decision (EU) 2026/2229 of 24 September 2026 amends Decision (EU) 2024/1447 to include an additional NOK 1,000,000,000 financial contribution from Norway to the Ukraine Facility. The Norwegian funds are allocated to the Facility's eleventh quarterly instalment, to be disbursed upon fulfilment of specified reform steps.
EU Council
ECOFIN to address market integration and banking sector competitiveness
The Economic and Financial Affairs Council (ECOFIN) will meet on 9 October 2026 to agree its position on the market integration and supervision package, a key element of the savings and investments union. Finance ministers will also discuss competitiveness in the EU banking sector.
