The Taiwan Financial Services Commission reported a 0.15% nonperforming loan ratio across 38 domestic banks at the end of September 2026, an increase of 0.01 percentage points from the previous month and unchanged from a year earlier. Nonperforming loans rose to TWD 73.7 billion, while allowance coverage declined by 76.08 percentage points to 887.52%.
The Central Bank of Taiwan had approved 3,451 banks to conduct foreign exchange business by the end of October 2026, comprising 3,411 domestic banks, three mainland Chinese banks and 37 foreign banks.
The Hong Kong Securities and Futures Commission and Hong Kong Monetary Authority convened more than 200 financial sector stakeholders to discuss commercial uses of tokenisation. Discussions covered secondary trading, corporate treasury management and infrastructure for payments and liquidity. The seminar followed the launch of 24/7 tokenised fund trading and Ensemble TX’s addition of 24/7 interbank settlement for tokenised deposit transactions.
The Hong Kong Securities and Futures Commission reported that Oliver Chow Pak Wah will stand trial on April 26, 2027, after pleading not guilty to three charges of failing to comply with notices connected to two ongoing market manipulation investigations. The alleged failures concern producing records and documents and attending interviews. He was granted HKD 15,000 cash bail subject to travel, residence and police reporting conditions.
The Hong Kong Monetary Authority and the Securities and Futures Commission held an industry seminar on commercial uses of tokenised deposits and authorised investment products. Discussions followed Ensemble TX’s expansion to 24/7 interbank settlement and the SFC’s approval of secondary trading in tokenised money market funds around the clock. Further work will focus on scaling transactions and using tokenised deposits to settle a broader range of tokenised investment products.
The People's Bank of China reported that 297 projects won the 2025 Fintech Development Awards, up from 290 in the previous review. The review meeting called for exploring artificial intelligence in financial management and services while managing model risks. It also reiterated priorities for fintech investment, technologies under domestic control, stronger data foundations and technology governance.
At COP31 in Antalya, Dutch central banker Olaf Sleijpen, chair of the Network for Greening the Financial System, urged faster movement away from fossil fuels to reduce climate damage and exposure to energy price shocks. Adaptation and a more diversified energy mix cannot substitute for reaching net zero emissions. He called for predictable climate policies, emissions pricing and targeted, temporary subsidies to mobilize private investment and support affected households and firms.
The Dutch central bank estimates a median EUR 150 increase in gross monthly mortgage payments for households with variable rates or rate resets before the end of 2028. These exposures account for 19% of outstanding bank mortgage debt and affect around 950,000 households. Most appear able to absorb higher payments, but the share of analyzed households spending more than 40% of net income on mortgages would double from 4% to 8%.
The Australian Securities and Investments Commission is seeking feedback on extending financial product application form relief for five years, with existing relief and conditions largely unchanged. The current instrument expires on April 1, 2027, and covers switching arrangements, specified corporate actions and applications that do not require a product disclosure statement.
South Korea's Financial Services Commission dismissed online claims about additional KOSDAQ measures on November 13 as false, warning that spreading unfounded rumors could constitute unfair trading and lead to strict action if violations are confirmed, while urging investors to verify policy information through official press releases rather than trade on rumors.
South Korea's Financial Services Commission has outlined emergency security expectations for virtual asset providers, including continuous monitoring, tighter wallet safeguards and sufficient insurance and reserves. Planned no action letters would allow deposit and withdrawal suspensions when hacking is suspected, addressing uncertainty over intervention before confirmation. Broader security support and revised inspection standards will accompany preparations for legislation imposing security duties and damages liability comparable with those of financial institutions.
The Reserve Bank of New Zealand’s 2025/26 reverse stress test found that participating life and health insurers needed combinations of severe shocks to produce solvency breaches. Modelled recovery measures reversed those breaches, but depended on customers retaining cover and funding and reinsurance remaining available. The findings call for stronger evidence supporting assumptions, independent review and recovery plans that test whether critical actions remain feasible under stress.
The Australian Securities and Investments Commission has expanded advertising relief to allow broader retail investor communications about initial public offerings before prospectus lodgement, following its August 2026 consultation. Publicity must identify the issuer, direct investors to the prospectus and explain the application requirements. Offerors must keep information current, while prohibitions on misleading or deceptive conduct remain unchanged.
South Korea’s Financial Services Commission announced a decision to refer suspected insider trading involving undisclosed bonus share issue information to the Serious Crimes Investigation Agency. The allegations concern corporate trades generating several billion KRW in illicit gains and personal trades yielding tens of millions of KRW. Penalties can include imprisonment of at least one year or fines of up to six times illicit gains, with companies also potentially liable.
South Korea’s Financial Services Commission reported a provisional KRW 6.4 trillion increase in household lending in October 2026, reversing September’s KRW 2.2 trillion decline. Mortgage growth accelerated, supported partly by previously approved group loan disbursements, while other lending returned to growth. Authorities urged lenders to avoid blanket credit cutoffs while maintaining controls on speculative borrowing and protecting access for borrowers with genuine financing needs.
South Korea's Financial Services Commission outlined governance reforms to restrict CEO influence over succession and strengthen board, shareholder and remuneration oversight. Bank holding company CEO reappointments would face progressively higher approval thresholds, while CEO nomination committees would comprise only independent directors. The plan also provides for shareholder nominations of independent directors, stronger pay disclosure and deferral requirements, and performance pay clawbacks, with draft legislative and regulatory amendments planned by the end of 2026.
South Korea’s Securities and Futures Commission imposed auditor designation requirements on Selvas Healthcare and Daewoo Industrial Development for accounting violations, alongside a securities issuance ban lasting 12 months for Daewoo Industrial Development. Daejoo Accounting Corp. is barred from auditing Daewoo Industrial Development for five years over audit failures and a rotation breach, with four accountants also facing restrictions. Financial penalties remain subject to final decisions by the Financial Services Commission.
South Korea’s Financial Supervisory Service reported a combined capital adequacy ratio of 186.0% for seven financial conglomerates at end-June 2026, up 8.4 percentage points from December. Equity valuation gains and higher retained earnings helped capital grow faster than requirements. All seven groups exceeded the 100% regulatory minimum.
The Australian Prudential Regulation Authority (APRA) warns that global market volatility and accelerating artificial intelligence risks could combine to test Australia’s financial stability. Household and bank buffers remain strong despite weaker housing conditions, although high indebtedness could amplify a downturn. APRA is intensifying AI supervision and scrutiny of shared service dependencies, while its 2027 stress test will examine potential economic and market disruption from AI.
The Australian Securities and Investments Commission (ASIC) has brought civil penalty proceedings against Commonwealth Bank of Australia, alleging undisclosed CommBiz payment fees resulted in approximately 42,000 customers being overcharged about AUD 8.5 million between November 2020 and May 31, 2025. The case also alleges governance failures allowed misleading disclosures to persist despite earlier complaints and an internal audit. CBA has completed a broader remediation program paying more than AUD 26.4 million to approximately 93,000 customers, while ASIC is seeking financial penalties and other court orders.
The Portuguese Insurance Regulator (ASF) is consulting on proposed amendments to the Chart of Accounts for Insurance Companies.
The Financial Planning Standards Board (FPSB) has named Matthew Boersen, Edwin Cheung and Angus Dale-Jones as directors from April 1, 2027. Their backgrounds span financial planning leadership, international market development and financial regulation. FPSB also confirmed elections to its council, nominating committee and other network leadership roles for terms starting in January and April 2027.
The Jersey Financial Services Commission has issued a public warning about VaultPay for impersonating the genuine Jersey registered entity Vault Limited. The scam falsely claims to be a trading name of the company and uses its registered office address despite having no connection to it.
The Central Bank of Kuwait has finalized its open banking framework following consultation on the June 2025 draft. Dedicated account information and payment initiation providers must register and maintain minimum capital of KWD 100,000 and KWD 500,000, respectively. Data access and payment initiation require explicit, revocable customer consent and compliance with technical and security requirements.
Argentina Securities Commission Chair Roberto E. Silva asked the Organisation for Economic Co-operation and Development (OECD) to drop priority corporate governance recommendations or downgrade them to recommendations for improvement. Addressing the OECD Corporate Governance Committee in Paris, he presented Argentina's position on its accession assessment and outlined progress on governance, transparency and simplification.
The Moroccan Capital Markets Authority has approved the definitive prospectus for Capgemini SE’s employee offering of up to 3 million new shares. Eligible employees at three Moroccan group companies can subscribe or retract subscriptions on Nov. 12-13, 2026, at a subscription price of EUR 106.89, equivalent to MAD 1,174.47 per share.
The Bank of the Republic of Burundi plans to return available funds to former Ineza Microfinance members. Members are to report to its headquarters from November 16, 2026, according to published name lists.
The Bank of the Republic of Burundi will begin returning part of INEZA IWACU MICROFINANCE S.A. depositors’ funds on November 16, 2026, subject to available funds and applicable law. A published list will specify individual processing dates. Depositors with bank or savings and credit institution accounts must prove ownership to receive transfers, while those without accounts will be notified of payment arrangements.
Georgia’s parliament endorsed the National Bank of Georgia’s monetary and exchange rate policy framework for 2027–2029, setting a 3% inflation target. In her parliamentary presentation, President Natia Turnava reiterated that the policy rate remains at 8.25%, with further tightening possible if inflation expectations and second round effects intensify. Inflation could approach target from the second half of 2027 if pressures from the Middle East conflict ease, while international reserves reached a record USD 8.25 billion in October amid continued accumulation and diversification.
The Luxembourg Insurance Commission’s third-quarter 2026 indicators show life premiums increased 12.42% to EUR 25.84 billion over the first nine months, with growth in both unit linked and guaranteed rate products. Reported nonlife premiums declined 1.04% amid portfolio transfers, changes in domicile and soft market conditions, but rose 4.77% on a comparable business scope. Life insurers’ technical provisions increased 11.12% from a year earlier to EUR 283.84 billion.
National Bank of Moldova Governor Anca Dragu is participating in the Center of Excellence in Finance governing board’s review of 2026 activities and discussions on its 2027 work program and resources. She emphasized cooperation’s role in applying European standards and highlighted an existing project that enables central bank staff to share knowledge across the institution.
The Bank of Botswana has published the Financial Stability Council’s assessment that the financial system can withstand moderate shocks, although severe stress scenarios could cause bank capital breaches. Fiscal measures have eased liquidity and funding pressures, but deposit concentration, weak economic activity and interconnected exposures remain risks. Work continues on crisis management frameworks and financial integrity measures ahead of the 2027 mutual evaluation.
The National Bank of Ukraine reports that Raiffeisen Bank JSC joined the FX Global Code on Nov. 3, 2026. The signing represents a public commitment to ethical and professional conduct in foreign exchange markets. It follows the central bank’s own adherence in May 2026 and its recommendation that Ukrainian banks consider joining.
In a Granma interview published by the Central Bank of Cuba, Deputy Minister of Foreign Trade and Foreign Investment Déborah Rivas Saavedra confirmed approval of two foreign investment ventures with Cuban private businesses. Expanded rules permit partnerships with private companies and cooperatives and allow usufruct and surface rights of up to 99 years. Faster approval procedures allow projects to advance when evaluators do not comment within the prescribed deadline.
The Caribbean Financial Action Task Force has published its fourth asset recovery article, explaining the range of confiscation mechanisms required under Financial Action Task Force standards, with no preferred approach. It highlights confiscation without conviction as a required component, subject to fundamental principles of domestic law and judicial procedures. The article also explains how extended confiscation and recovery of equivalent value can reach additional assets while protecting affected persons and bona fide third parties.
Banks received 18% more credit reports in the first half of 2026 than a year earlier, according to a Central Bank of Russia review. Microfinance organisations requested fewer reports but used credit scoring more extensively. Household demand was largely unchanged, with individual credit ratings accounting for more than half of all requests to credit history bureaus.
The Central Bank of Russia’s maximum ruble deposit rate monitoring recorded 13.31% for November 1–10, 2026. The measure covers the 10 largest credit institutions by household deposits in Russia.
The Central Bank of Russia will allow exchanges to begin cryptocurrency trading from 22 November 2026 if it agrees to their trading rules. Exchanges must register participants, maintain order and transaction records, monitor trading and calculate price indicators. They must report trading progress and results under the procedure already used for other assets.
Nigeria's National Insurance Commission has warned of fraudsters impersonating Commissioner for Insurance Olusegun Ayo Omosehin online, offering contracts, jobs and approvals while requesting payments through unofficial channels. The commission does not conduct official business through personal social media accounts or private messaging platforms, and no one is authorized to collect funds on its behalf. The public should disregard and report such solicitations.
The Central Bank of Nigeria has clarified that payment transaction data generated in Nigeria, including supporting records and backups, must be stored, processed and managed domestically by January 1, 2027. Existing contracts and international group arrangements provide no exemption, and there is no automatic grace period or grandfathering for legacy systems. Remote support requires CBN approval, while necessary international payment data exchanges remain permitted subject to domestic storage and management requirements and applicable controls.
The Central Bank of Ecuador has strengthened verification, due diligence, identification and recordkeeping requirements for financial institutions depositing USD 50 and USD 100 banknotes, effective Nov. 6, 2026. Institutions must use designated facilities, while individuals exchanging these notes at central bank counters must identify themselves, declare the lawful source of funds and permit serial number recording. The update does not restrict the notes’ circulation or use in everyday transactions.
The Brazilian Superintendence of Private Insurance (SUSEP) presented its previously published catastrophe insurance report at a Hong Kong roundtable on partnerships between the public and private sectors. Insurance covers only about 9% of disaster losses in Brazil. The report contains 30 proposals to strengthen financial resilience and protection over the short, medium and long term.
The Brazil Securities Commission imposed a BRL 16.1 million fine and disqualification for 15 years on former Petrobras executive Nestor Cuñat Cerveró for receiving an improper benefit linked to the Pasadena refinery acquisition. Other decisions fined four Auzza Securitizadora administrators a combined BRL 360,000 for periodic reporting failures and warned GBMF Portfolio Solutions over late shareholding disclosure. Six Rio Paranapanema Energia administrators were acquitted over votes approving management accounts.
The Guernsey Financial Services Commission removed Bulgaria and Monaco from its higher risk jurisdictions list following their removal from Financial Action Task Force (FATF) increased monitoring. Côte d’Ivoire and the Democratic Republic of the Congo remain listed because of risks identified by other external sources. FATF also expressed concern about Vietnam’s slow progress and will consider next steps without tangible improvements by its next plenary.
Indonesia’s Financial Services Authority reported business category commitments from 192 securities firms and investment managers as of Oct. 29, 2026, with most selecting the broadest categories. These are initial steps toward meeting capital, governance and operational requirements, with fulfillment targeted for April 2029. Securities firms involved in violations must also strengthen controls, investigate causes and report corrective measures.
The Central Bank of Kuwait fined two unnamed local banks a combined KWD 930,000 after inspections identified breaches of its instructions on combating money laundering and terrorist financing. Each bank received two penalties, totaling KWD 320,000 for one and KWD 610,000 for the other.
Morocco’s Supervisory Authority of Insurance and Social Welfare (ACAPS) is taking part in the International Association of Insurance Supervisors (IAIS) Annual Conference in Hong Kong from Nov. 9-13, 2026. Morocco will host the IAIS committee meetings, General Assembly and Annual Conference in Rabat in 2027 under ACAPS’s auspices.
The Securities and Exchange Board of India has directed registered intermediaries qualifying as Reporting Financial Institutions to align Foreign Account Tax Compliance Act and Common Reporting Standard reporting and due diligence with the Income Tax Rules, 2026. Required updates cover onboarding procedures, controlling person and account information, and mandatory fields in Form 166 reporting software. Intermediaries must upload client certifications to Know Your Customer registration agencies and remain solely responsible for obtaining and reporting them.
The Reserve Bank of India has consolidated existing domestic money transfer rules for banks and authorised payment system operators and participants. Cash payouts are capped at INR 10,000 per transaction, compared with INR 5,000 for cash remittances through business correspondents and similar channels, with monthly ceilings of INR 25,000 per beneficiary and per remitter, respectively. Cash remittances into accounts require sender registration and additional authentication, while providers must monitor transactions and investigate unusual account credits.
The Central Bank of Libya and the Government of National Unity’s economy minister discussed preparing an import budget to meet domestic needs while rationalizing foreign currency use. They agreed to exchange economic data and statistics to improve information accuracy and support decisions.
The Central Bank of Libya’s reconstituted Monetary Policy Committee urged a unified state budget and closer policy coordination amid mounting inflation and a widening gap between official and parallel market exchange rates. Budget estimates should reflect available resources, state financing capacity and the economy’s capacity to absorb spending. Exchange rate measures should preserve official rate stability while addressing the causes of the gap and easing pressures on foreign currency demand.
Saudi Arabia’s Capital Markets Authority has approved Keir International Company’s proposed capital reduction from SAR 120 million to SAR 33,577,847, subject to extraordinary general assembly approval and completion of regulatory procedures. The company will disclose the proposed method and expected effects before shareholders vote. Regulatory approval does not constitute an endorsement of the reduction’s feasibility.
The National Bank of Ukraine attributed October 2026 inflation of 11.0% mainly to higher fuel prices and damage to logistics infrastructure. Fuel inflation reached 53.9%, while core inflation accelerated to 9.7%. Price pressures are expected to intensify through early 2027 before easing as the fuel shock dissipates and wage pressures weaken.
The Luxembourg Insurance Commission has published the FWU Life liquidator’s reminder that policyholders and beneficiaries must file claims by Jan. 31, 2028, or be excluded from liquidation payments. Interim distributions may take place before that deadline, with immediate payments restricted to claims already filed and admitted. Claimants must submit a claim even if they dispute the amount shown on their prefilled form.
The Bank of Italy will hold an “Innovation and Finance” research conference with CEPR and EIEF in Rome on Dec. 10-11, 2026, focusing on how innovative firms are financed and scale. The program covers research funding, venture capital and the role of European capital market integration in supporting innovation.
In remarks to the Pan-European Conglomerates Club, the Single Resolution Board favored distinct but coordinated bank and insurer resolution frameworks ahead of the Insurance Recovery and Resolution Directive’s full application on Jan. 30, 2027. Strategies should reflect conglomerates’ interdependencies and may combine business sales with bail-in. The speech supported cooperation between authorities while questioning the practicality of a single strategy merging both frameworks.
The Croatian National Bank clarified that Multitude Bank plc, which continues to use the Ferratum name in Croatia, is authorised and supervised in Malta rather than by the Croatian central bank. Customers therefore cannot receive the same level of consumer protection monitoring as those of domestic institutions under its oversight. Consumers are advised to examine product documentation carefully and seek expert advice where needed before entering an agreement.
The Croatian National Bank warned that paid guarantees linked to Ferratum online loans can add recurring charges and further fees following payment defaults. Ferratum is the trading name used in Croatia by Multitude Bank plc, headquartered in Malta, and consumers must account for obligations and costs under both loan and guarantee agreements. Relationships between consumers and guarantors fall outside the central bank’s supervisory remit, while complaints about guarantors established in other European Union member states may be submitted to the State Inspectorate.
The Bank for International Settlements has published a paper presenting a free liquidity stress testing toolkit for nearly 13,000 banks across more than 100 economies. The tests find stronger liquidity buffers since Basel III, alongside substantial differences across banks and banking systems. Based on annual public data, the tool screens structural vulnerabilities rather than predicting failures during rapid bank runs.
The European Central Bank’s analysis of experimental survey data finds limited current financial stability risks from euro area consumers’ stablecoin holdings. In August 2025, 5% of consumers reported holding stablecoins, with US dollar tokens dominating exposure. Broader use beyond crypto trading could increase risks from runs and reserve asset sales, while affecting bank funding, monetary policy transmission and euro payment instruments.
The Central Bank of Estonia’s Supervisory Board received updates on the euro area and Estonian economies and a presentation on the financial stability review due on Nov. 24. Members also considered a preliminary plan for 2028 collector coins, expected to be published in December. The board will next meet on Dec. 8.
The Bulgarian National Bank amended its banking rules to implement relevant provisions of Directive (EU) 2024/1619 concerning supervisory powers, sanctions, branches from third countries and environmental, social and governance risks, following changes to the Credit Institutions Act.
Central Bank of Libya Governor Fauzi Misbah Abokhzam discussed fiscal sustainability, public financial management and financial crime controls with UK Ambassador to Libya Martin Alexander Reynolds. Reynolds expressed readiness to provide technical assistance, particularly for cybersecurity and staff training.
The Bank of Korea reported that household lending rose by KRW 5.0 trillion in October, up from KRW 0.5 trillion in September, while corporate lending increased by KRW 10.2 trillion. Treasury yields and the KOSPI fell, although rates at short maturities increased amid expectations of a further Base Rate rise and greater bank funding demand. Bank deposits expanded by KRW 30.4 trillion, and funds under management at asset management companies returned to growth.
The People's Bank of China’s third-quarter 2026 monetary policy report reaffirms moderately accommodative policy and stronger countercyclical support. It outlines a shift toward more diverse loan pricing benchmarks and further disclosure of businesses’ total financing costs. Earlier measures included additional relending quotas of CNY 200 billion for technological innovation and upgrading and CNY 500 billion for agriculture and small businesses.
The People's Bank of China reviewed January-September 2026 measures that expanded targeted credit support while keeping monthly loan prime rates unchanged at 3.0% for one year and 3.5% for over five years. Measures increased relending quotas for small and private businesses and technology projects, lowered selected lending rates and introduced housing interest subsidies. Liquidity changes included overnight reverse repos and a renminbi repo facility for eligible overseas central bank institutions, alongside broader cross-border financing arrangements.
National Bank of Georgia First Vice Governor Ekaterine Mikabadze highlighted reliable financial reporting and independent audit at an event for accountants and auditors. Effective supervision requires complete financial information prepared to international standards. She also reviewed existing cooperation on the Reportal.ge disclosure portal and the Best Annual Report and Transparency Award, emphasizing reporting practices beyond minimum compliance.
The Central Bank of the Republic of Azerbaijan will hold a public reception in Khankendi on November 16, 2026, to assist citizens with financial services inquiries. The outreach is part of its initiatives to protect financial consumers and investors.
The Central Bank of the Republic of Kosovo discussed support for banking reforms with the European Bank for Reconstruction and Development. The focus was technical assistance for regulations under the Law on Banks, bank recovery and resolution, and alignment with European Union standards. Discussions also covered finance for women entrepreneurs, green financing and expertise in capital markets.
HM Treasury has proposed letting local credit union members continue referring relatives or household members for membership after moving outside the area. Bank of England data indicate that more than 50,000 people across Great Britain would gain referral rights, potentially extending access to savings accounts and small loans at lower interest rates.
The Bank of Albania will hold an off the record presentation of its fourth quarter 2026 Monetary Policy Report for economic journalists at its premises on November 12.
The National Bank of the Republic of Tajikistan reported a 6.85% weighted average yield for securities issue K26007070, with an issue volume of TJS 5,594,820,000 and submitted bid yields of 6.50% to 7.00%.
Central Bank of Cyprus statistics show 14 dishonoured cheques on the preliminary list for October 2026, compared with 34 in September. Their aggregate value declined approximately 60% from September and 78% from October 2025. Separately, the Central Information Register recorded 10 registrations in October, taking the 2026 total to 114, without accounting for deletions.
The Central Bank of Cyprus released September 2026 deposit and loan interest rate data broken down by banking institution.
Egypt’s Financial Regulatory Authority held consultations and further live tests of its central lending system ahead of the short selling launch, focusing on brokerage connectivity and operational readiness. Preparations build on earlier industry training and a model borrower contract. An operating procedures guide remains under development, while share eligibility criteria are being assessed for announcement at launch.
Egypt's Financial Regulatory Authority held a workshop on implementing the customer due diligence procedures issued in September 2026, following earlier instructions to update firms' policies and controls. The session emphasized ongoing transaction monitoring, regular customer data updates and checks tailored to risk. It also reinforced requirements for board approval of customer acceptance policies and their review at least every two years and whenever necessary.
The Bank of Greece’s General Council unanimously backed Christina Papaconstantinou’s reappointment as deputy governor and agreed to submit the proposal to the Council of Ministers. Papaconstantinou has held the post since March 2021, and her current term expires on March 11, 2027.
The Financial Stability Board’s peer review of Türkiye finds progress in bringing crypto-asset providers under oversight, but continuing gaps in stablecoin regulation and supervisory implementation. It recommends dedicated stablecoin issuer rules, completion of provider licensing and better financial stability risk indicators. Stronger reporting and cooperation with foreign supervisors should improve oversight of offshore activity and foreign stablecoins.
A European Central Bank blog analysis finds that euro area wealth inequality had largely reversed its sovereign debt crisis increase by 2023, although it remained elevated in the countries hardest hit. The Gini coefficient declined from 69.7 in 2014 to 68.5 in 2023, close to its 2010 level of 68.2. Difficulties rebuilding savings and declining homeownership helped sustain inequality in the most affected countries.
The European Central Bank has published research linking municipal corporate tax increases in Portugal to liquidity losses and higher borrowing costs, especially among small firms. Employment falls about 2%, while total factor productivity declines around 2.5% after three years. Firms become more likely to exit or relocate, but neighboring municipalities record no measurable output gains.
In a new blog post drawing on research by its economists, the Dutch central bank argues that AI productivity gains require business reorganization, wider adoption of successful applications and growth among the most productive firms. Initial investment and adjustment could slow productivity growth before benefits emerge. Dependence on U.S. infrastructure and unreliable AI systems create additional risks.
The Bank of Italy’s assessment estimates that Marche’s economy grew 0.7% in the first half of 2026 compared with a year earlier, slightly less than Italy overall. Public works and tourism supported activity, but employment was broadly flat and rising inflation constrained household purchasing power. Business lending resumed growth, although the recovery favored larger firms while credit to smaller businesses continued to contract.
The Bank of Italy has updated its international tourism statistics for Italy with data as of August 2026, accessible through interactive HTML pages on its Statistics Portal.
The Bank of Italy’s regional update estimates that Sardinia’s economy expanded 0.7% in the first half of 2026, below Italy’s 0.9% growth, with tourism and public works supporting activity. Inflation reached 4.4% in September, squeezing household purchasing power and business margins. Business lending continued to fall, and credit quality weakened slightly, although the gross nonperforming loan ratio remained broadly stable at 3.0% in June.
The Bank of Italy’s latest regional assessment puts Lombardy’s economic growth at around 1% in the first half of 2026, supported by consumption, manufacturing and exports. Rising energy costs reduced business margins and household purchasing power, with inflation reaching 3.9% in September. Annual bank lending growth to businesses accelerated to 3.9% in August, while household borrowing rose 4% in the year to June.
The Austrian National Bank’s latest Financial Stability Report highlights a growing, ageing stock of nonperforming loans despite an aggregate NPL ratio stabilising just below 3%. With the ratio above 8% for domestic commercial real estate lending, it calls for active loan resolution, higher provisions and conservative collateral valuations. Strong capital and stress test results support banks’ capacity to absorb shocks, although exceptional items drove much of their EUR 9.3 billion profit in the first half of 2026.
Latvia's Ministry of Finance assessed October annual inflation at 3.1%, with falling food prices offsetting much of the pressure from fuel costs. October's fuel excise duty cuts initially lowered pump prices, but rising oil prices erased that effect. Inflation is expected to remain near 3% in November before accelerating from December, while sustained energy costs could push food prices higher in 2027.
The Central Bank of Iceland’s latest survey shows higher inflation expectations for the coming quarters but lower median forecasts of 3.7% one year ahead and 3% two years ahead. Participants expect faster rate cuts from the third quarter of 2027, taking the key rate to 6% in two years rather than the previously expected 6.25%. The share viewing monetary policy as too tight increased to 65% from 50%.
The Bank of Uganda's FAQs explain its November decision to retain the policy rate at 12% following October's increase and widen the interest rate corridor to 9%–15%. Core inflation is forecast to average 6.0%–6.5% over the next 12 months, exceeding the 5% target. The growth projection for fiscal year 2026/27 has been lowered to 5.5%–6.0% from 6.0%–6.5%.
The Bank of Uganda kept its Central Bank Rate unchanged to give earlier policy measures more time to work. It raised its forecast for average core inflation over the next 12 months to 6.0%–6.5%, above its 5% medium-term target. The growth forecast for fiscal 2026/27 was cut to 5.5%–6.0% from 6.0%–6.5%.
The Central Bank of the UAE’s September 2026 monetary and banking report showed bank credit rising 1.3% to AED 2,908.0 billion and deposits growing 0.9% to AED 3,567.7 billion. Higher lending to companies and the government drove domestic credit growth. Money supply M2 and M3 increased 0.6% and 1.2%, respectively, supported by higher deposits from government related entities and the government.
The Bank of Mauritius’s Monetary Policy Committee unanimously raised the Key Rate by 25 basis points to 5.00% per annum, citing risks of inflation becoming entrenched above target despite downside risks to growth. Headline inflation is projected to exceed the 2–5% target range in 2027, while real gross domestic product growth is forecast at 3.0% in 2026.
Indonesia's Financial Services Authority (OJK) has launched cyber resilience guidelines for online lenders, accompanied by a collection ethics pact between providers and debt collection firms. The guidance emphasizes incident response and recovery, supported by maturity assessments and implementation tailored to providers' risks. Providers are responsible for ensuring ethical collections, protecting personal data and preventing intimidation and violence.
The National Bank of the Kyrgyz Republic and Crystal Intelligence signed a memorandum to support training for specialists in virtual assets. Potential seminars and practical sessions would cover blockchain analytics tools for analyzing transactions, assessing risks and detecting signs of money laundering and sanctions circumvention.
The National Bank of the Kyrgyz Republic fined one commercial bank KGS 65,000 for breaches of Kyrgyz legislation and a central bank regulation on consumer lending.
The China Securities Regulatory Commission backed the Beijing Financial Court’s use of special representative proceedings in the Dongfangtong securities misrepresentation case. It also supported voluntary advance compensation following the creation of a fund for Qingyue Technology investors by GF Securities, Lixin and the company’s actual controller. An ongoing consultation would clarify compensation procedures and investor protection institutions’ support roles.
South Korea's Ministry of Economy and Finance urged overseas economic and financial attachés to monitor external risks and promptly report emerging threats. At a video conference, Deputy Prime Minister and Minister of Economy and Finance Lee Hyoung-il highlighted possible US policy shifts following the midterm elections and global spillovers from France's fiscal crisis. He also called for scrutiny of how wars involving Russia and Ukraine, and the United States and Iran, could affect oil prices and supply chains.
South Korea’s Ministry of Economy and Finance assessed progress on KRW 312 trillion in Yeongnam megaprojects, focusing on investment execution and local permitting. Deputy Prime Minister and Minister of Economy and Finance Lee Hyoung-il urged faster permit approvals and pledged to tackle regulatory and other bottlenecks. Ministries will examine requests raised at the meeting and review the results at the next task force meeting.
China's Ministry of Finance has published its 15th Five Year Plan for Accounting Reform and Development, prioritizing financial fraud enforcement and stronger audit oversight. Planned standards work covers climate disclosure guidance, biodiversity and small business sustainability reporting, and sustainability assurance. Digital reforms include standardized electronic accounting documents, wider use of digital bank confirmations and technology to detect regulatory risks.
People’s Bank of China Deputy Governor Xuan Changneng participated in the Bank for International Settlements governors’ meeting in Basel on Nov. 8-9, 2026, discussing global economic and financial issues and holding separate talks with central bank representatives on shared concerns and bilateral financial cooperation.