Bulgaria’s Ministry of Finance highlighted that effective implementation of government measures and policies should benefit businesses, citizens, foreign investors and visitors. The Deputy Prime Minister also discussed Bulgaria’s planned full euro area membership from 1 January 2026 and its expected impact on trade relations.
Ceres urged the California Air Resources Board to adopt California’s updated cap-and-invest program without delay while preserving market integrity, warning that postponement would undermine confidence and disrupt business planning. It raised concerns that the proposed Manufacturing Decarbonization Incentive, by creating additional emissions allowances outside the cap, could weaken market integrity, depress allowance prices and reduce program revenues, and called for MDI monitoring and reporting tied to progress toward statutory climate milestones.
The Austrian National Bank and SUERF will hold the 53rd Economics Conference in Vienna on 18–19 June 2026 on “Monetary policy trade-offs in a heterogeneous currency area,” focusing on uneven effects of single monetary policy measures and trade-offs between price stability and financial imbalances. The programme will examine how heterogeneity influences monetary policy and how fiscal and macroprudential policies can complement it, and will feature a fireside chat with OeNB Governor Martin Kocher and IMF Managing Director Kristalina Georgieva alongside sessions with central bank and supervisory speakers.
The National Bank of Moldova said Governor Anca Dragu is attending the Conference of Governors of Francophone Central Banks in Phnom Penh, focusing on central bank autonomy and the role of independence, credibility and transparent communication in anchoring inflation expectations. She highlighted the dominance of European investors in Moldova’s banking sector and recent sovereign rating actions. Dragu is also holding bilateral meetings with counterparts from the European Central Bank, National Bank of Belgium, Bank of France and National Bank of Cambodia on cooperation and support for Moldova’s European Union accession negotiations.
The U.S. Department of the Treasury has launched the Trump Accounts mobile app nationwide as the primary interface for the Trump Accounts program, marking the next operational phase ahead of the official launch on July 4, 2026. Parents and legal guardians who previously elected to open accounts via IRS Form 4547 will receive activation emails, and from July 4, 2026, accounts will be able to receive contributions within annual limits and a USD 1,000 pilot program contribution for eligible children. Treasury said legitimate activation emails will only come from no-reply@TrumpAccounts.Treasury.gov and that new account elections remain open for eligible children until they turn 18.
The Taiwan Financial Services Commission reported that 1,949 of 1,950 listed companies (excluding financial holding companies) filed their 2026 first quarter financial reports, with only Yeong Guan Energy Technology Group Co., Ltd. outstanding. For domestic companies listed on the Taiwan Stock Exchange and Taipei Exchange, operating revenue reached TWD 13.60 trillion and net profit before tax TWD 1.74 trillion, both decade highs, with year-on-year increases of 26.41% and 51.01% respectively, driven mainly by semiconductor, electronic parts and components, plastic, computer peripheral equipment and financial sectors.
HM Treasury has published a framework for the National Wealth Fund, defining HM Treasury as shareholder, UK Government Investments as shareholder representative, and confirming the fund’s operational independence within agreed delegations. The fund is designated the UK government’s principal investor and policy bank for capital‑intensive infrastructure, supply chains and businesses, aligned with climate and regional growth objectives and a triple bottom line approach, and limiting support for fossil fuel extraction and certain water companies. The framework also sets governance arrangements, including Chancellor appointments and HM Treasury approvals, and provides GBP 27.8 billion of capacity, including GBP 7.7 billion of equity, loan facilities, management of the UK Guarantee Scheme and authority to issue up to GBP 10 billion of guarantees.
The Astana Financial Services Authority issued a public alert stating that Unilive Central Asia Ltd is not licensed or authorised to provide financial services or make financial promotions, including in relation to digital assets, within or from the Astana International Financial Centre. AFSA clarified that the firm is registered only as a holding company and warned the public about social media promotions offering guaranteed returns and immediate withdrawals, urging verification of firms’ status on the AFSA Public Register.
The Prudential Regulation Authority has finalised its Phase 1 Pillar 2A policy, updating capital methodologies, ICAAP and SREP guidance, and reporting for banks, building societies, designated investment firms and relevant holding companies, including Small Domestic Deposit Takers, to reflect Basel 3.1 and improve transparency and proportionality. Key changes include removal of the credit risk benchmarking methodology, new systematic Pillar 2A approaches for certain non-UK sovereign, regional or local authority exposures and retail unconditionally cancellable commitments, clarified operational and conduct risk treatments, eased pension-related reporting, and minor market and counterparty credit risk updates. The revised materials apply from 1 January 2027, with 2026 ICAAPs required to assess Basel 3.1 impacts and a further consultation on selected Pillar 2A methodologies planned for 2027.
The Republic of Serbia Securities Commission published remarks by its chairman outlining how licensing, legal compliance assessments, approvals and ongoing supervision are used to uphold professional and ethical standards among capital market participants. He said these tools aim to maintain investor confidence, safeguard market stability and support further development of Serbia’s capital market.
De Nederlandsche Bank published an analysis showing that job mobility in the Netherlands is a key channel for labour reallocation across sectors, with around one in six employees changing employer annually and 57% of job-to-job movers also switching sector. Intersectoral mobility is highest in smaller sectors such as mining and quarrying and energy and waste, while most job movers in health care and financial services remain in-sector, and temporary agency work and trade act as transfer points into other sectors.
The Liechtenstein Financial Market Authority has ordered TGI AG to immediately stop distributing and publicly offering its “Customer Basic 2%”, “Sales Premium” and “Instant Discount” products, after determining the firm was conducting unauthorized deposit business. TGI AG must also cease holding third-party funds accepted as deposits for these products within four months, with the injunction dated May 26, 2026 immediately enforceable but not yet legally binding.
The Latvian Ministry of Finance published a review of Finance Minister Arvils Ašeradens’s term, highlighting a budget shift toward defence and growth, a projected return to economic growth in 2025 with GDP up 2.1%, and strengthened public finances. The review notes higher defence spending, labour tax and minimum wage changes, greater use of EU and Recovery Fund financing, and public sector reforms including State Revenue Service restructuring, expenditure cuts and procurement changes. It also cites improved anti-money laundering controls, stronger lending conditions, and outlines further work on affordable housing, capital market development and municipal financial equalisation.
The Central Bank of Malta reported that business activity moderated toward its long-term average, while inflation rose to 2.5% and unemployment remained at 3.5%. Property demand stayed strong, but industrial production contracted and economic sentiment weakened. Resident deposits grew 7.5%, credit expanded 7.8% and the March fiscal deficit widened to EUR 313.9 million.
The Central Bank of Latvia’s Supervision Committee has granted Nexdesk SIA a payment institution licence for money remittance services, complementing its December 2025 crypto-asset services licence and enabling full crypto-asset custody and transfer services. The central bank reiterated that it authorises crypto-service providers under the Markets in Crypto-Assets Regulation and that firms offering transfer services involving e-money tokens may also need a payment institution licence under the Law on Payment Services.
The Financial Conduct Authority announced that Sukate & Bezeboh Ltd, trading as SB Remit, a small payment institution, entered administration on 22 May 2026, with Charles Turner and Frank Ofonagoro of Opus Restructuring LLP appointed as joint administrators. Before this, SB Remit had agreed to a voluntary undertaking restricting its activities, including accepting new customer funds, and the administrators will manage customer claims and return funds where possible. SB Remit remains authorised, and the FCA warned customers to remain alert to scams.
The European Central Bank outlined a three-part response to the digitalisation of money and payments: preparing for a possible retail digital euro, enabling settlement of distributed ledger technology-based transactions in central bank money from September 2026, and linking fast payment systems to improve cross-border payments. The digital euro would be non-interest-bearing legal tender for day-to-day use with holding limits. Subject to legislation, a pilot could start in 2027 with first issuance in 2029, and the ECB plans to present a blueprint for an integrated tokenised financial ecosystem in 2028 under the Appia roadmap.
The Central Bank of Russia reported that broad money supply M2X rose by 1.2% in April, mainly due to higher household ruble deposits, with annual M2X growth increasing to 12.5% from 12.2% in March. Annual growth in credit to the economy accelerated to 9.4% from 9.0%, with credit remaining the main driver of money supply growth and the fiscal sector also contributing positively.
The Hong Kong Mandatory Provident Fund Schemes Authority published the March 2026 Mandatory Provident Fund Schemes Statistical Digest, reporting record first quarter 2026 contributions of HKD 24.4 billion and tax-deductible voluntary contribution accounts surpassing 100,000, with quarterly contributions of HKD 1.5 billion. Total MPF assets reached about HKD 1,530 billion, with equity and mixed assets funds and Default Investment Strategy funds continuing to deliver average annualised net returns above inflation.
The National Bank of Denmark has introduced an online registration option for citizens to file claims to redeem banknotes that will become worthless after 31 May 2026, supplementing in-person registration at existing exchange points. The measure aims to ease heavy demand and long queues, particularly in Copenhagen, with claims registered online or physically by 31 May to be processed and FOREX subsequently contacting online registrants to submit banknotes and documentation.
The Australian Financial Complaints Authority has adjusted its handling of complaints about Interprac Financial Planning after Interprac commenced Federal Court proceedings challenging AFCA’s lead determinations. AFCA will continue to register, investigate and progress Interprac complaints but will pause them before assessing loss or issuing determinations until the court proceedings conclude, and may review this position if circumstances change.
The Swedish Financial Supervisory Authority has proposed new rules from 10 July 2026 for major holdings notifications, prospectus approval applications and ongoing market information submitted via its reporting portal, including new mandatory fields and Legal Entity Identifiers for notifying parties and issuers. The proposal would mandate digital-only submission of major holdings notifications, require additional issuer and transaction data, and expand prospectus application content in connection with new European Union ESAP Regulation rules.
The French Financial Markets Authority has approved amendments to the operating rules of the Aquis Exchange Europe multilateral trading facility. The changes introduce a second closing auction phase (MaC+), a new market order type, dynamic price collars, revised matching priority rules in the AMP segment, and modified iceberg order functionality.
The Bank of the Lao PDR co-chaired the 12th Advisory Committee Meeting of the International Monetary Fund’s Capacity Development Office in Thailand, which reviewed technical assistance and capacity development to strengthen macroeconomic management in Cambodia, Laos and Vietnam. The central bank presented work on links between the macroeconomy, monetary policy, liquidity management and policy implementation, with lessons feeding into reforms of Laos’s macroeconomic forecasting and monetary policy operational frameworks.
The European Securities and Markets Authority has updated its Q&A on the EU ESG Ratings Regulation, the Market Abuse Regulation and the Markets in Crypto-Assets Regulation. The ESG guidance clarifies treatment of defined ranking systems, transitional provisions, post-entry ESG rating providers and material changes to registration information, while the MAR update covers the annual audit under Commission Delegated Regulation (EU) 2016/957. The MiCA update clarifies exemption from white paper requirements when offering a crypto-asset other than an asset-referenced token or e-money token.
The Malaysia Securities Commission has issued revised Equity Guidelines and a response paper updating the primary market framework to sharpen the distinction between the MAIN Market and the ACE Market. The reforms raise profit and financial reporting requirements and broaden eligibility for infrastructure-type listings on the MAIN Market, while reinforcing the ACE Market’s sponsor-driven model through stricter transfer, sponsorship, moratorium and public allocation requirements.
The European Central Bank published a speech by President Christine Lagarde stressing that legal safeguards alone cannot secure central bank independence, which must rest on credibility and trust earned by delivering price stability. She warned that more frequent supply shocks, tighter fiscal space and eroding trust in public institutions are weakening de facto independence, and argued it should be protected through a clear mandate prioritising price stability, direct communication and accountability to citizens, and preserving policy space via fiscal responsibility and a resilient financial system.
The National Bank of the Kyrgyz Republic has suspended from 26 May to 9 June 2026 the 4 May 2023 license No. 6524 of DIMAIK LLC’s exchange bureau in Bishkek. The suspension follows breaches of Kyrgyz Republic legislation and the National Bank’s regulatory legal acts.
The Agency for Regulation and Development of the Financial Market of Kazakhstan warned that pyramid schemes almost always cause financial losses and violate national law, noting that organisers increasingly use digital tools, social media and professional rhetoric while still paying earlier participants from new investors’ money. It listed red flags such as above‑market “guaranteed” returns, recruitment requirements, lack of licensing and disclosure, informal payment channels and misleading labels like “investment club” or “innovation fund”, and clarified that this differs from network marketing based on real sales. The agency urged citizens to report suspected fraud and stressed that creating or promoting pyramid schemes is a criminal offence under Article 217 of the Criminal Code, punishable by property confiscation, up to 12 years’ imprisonment and a lifetime ban on certain activities.
The Australian Securities & Investments Commission outlined early observations from the first mandatory climate-related financial disclosures, saying they provide a baseline for more comparable reporting but should not be treated as a long-term benchmark. ASIC identified six priority areas for improvement, including clearer disclosure of judgements, separation of mandatory and voluntary content, adherence to cross-referencing rules, removal of conflicting disclaimers, and more consistent risk and target disclosures. It is supporting implementation through guidance and education while applying a pragmatic supervisory approach during the three-year modified liability period.
The Eurasian Group published the declaration from its fifth parliamentarians forum on crimes involving new technologies. Participants highlighted legal gaps around the use of generative artificial intelligence to bypass customer due diligence and around oversight of decentralized finance. They also called for stronger use of anti-money laundering tools and more harmonized cross-border procedures for virtual asset restraint and digital evidence.
Bank of Korea’s Monetary Policy Board held the base rate at 2.50 %, citing stronger-than-expected growth, April CPI of 2.6 % and renewed housing, FX and commodity-price pressures. It retained a hawkish bias, stating the timing of any hikes will depend on data, with two of seven members already voting for a 25 bp increase.
The U.S. Treasury’s Office of Foreign Assets Control has designated Iran’s so‑called Persian Gulf Strait Authority under Executive Order 13224 for supporting the Islamic Revolutionary Guard Corps by extracting passage fees and vessel information from ships transiting the Strait of Hormuz and channeling proceeds to the IRGC. Treasury warned that parties cooperating with the authority may face U.S. sanctions exposure, and that all of its property in the U.S. or under U.S. person control is blocked.
The Bank of Korea raised its 2026 GDP growth forecast to 2.6% from 2.0% and its consumer price index inflation forecast to 2.7% from 2.2%, citing stronger semiconductor exports and government support measures alongside higher oil and energy costs. It now projects 2027 growth at 2.1%, 2027 CPI inflation at 2.3%, a current account surplus of USD 250 billion, and employment growth of 180,000, while warning that elevated uncertainty around the Middle East and the semiconductor cycle could alter these outcomes.
South Korea’s Financial Supervisory Service reported that domestic banks’ capital and leverage ratios declined slightly in Q1 2026 but stayed above regulatory requirements, with the common equity Tier 1 ratio at 13.41% and the leverage ratio at 6.65%. The FSS attributed the decline mainly to risk-weighted assets rising faster than CET1 capital due to increased corporate exposures and higher exchange rates, and noted that bank holding companies reported lower average ratios than banks. The FSS will guide banks to strengthen loss-absorbing capacity and continue closely monitoring capital ratios.
The Central Bank of the Philippines and the Insurance Commission used a webinar to promote bundling parametric insurance with credit to enhance lending to climate-exposed sectors and strengthen financial institutions’ risk management. Officials described parametric insurance, which pays out automatically when predefined weather thresholds are met, as both a resilience and bankability tool, and discussed international practices, product design, credit integration and distribution channels.
The Central Bank of the Republic of Kosovo approved its audited 2025 financial statements, which received an unqualified opinion and reported net income of EUR 24 million. In line with the central bank law, it will transfer EUR 12 million to the state budget and EUR 12 million to its general reserve fund, marking the third consecutive year of income distribution to the state budget and bringing total transfers to nearly EUR 38 million.
The Reserve Bank of Australia has published its May 2026 Bulletin, covering new research on financial stability, the Australian economy, payments and bank pricing. Key articles provide a richer data-based profile of housing investors, analyse claims about profit margins and inflation, update evidence on consumer payment behaviour and bank fees, and track movements in banks’ funding costs and lending rates as the cash rate fell in 2025 and rose in early 2026.
The Chile Financial Market Commission reported April 2026 data showing modest 12‑month real loan growth in the banking system, driven by continued expansion in consumer and slower housing lending, with commercial lending contracting, while credit risk indicators declined and profitability rose to a return on average equity of 14.96 percent. Savings and credit cooperatives recorded stronger loan growth but weaker results, as higher net provision expenses and lower net fees reduced profitability to a return on average equity of 11.41 percent.
Australia’s Treasury has released exposure drafts of Scams Prevention Framework codes and rules for banking, telecommunications and digital platforms, setting cross-sector obligations on governance, secure systems, third-party oversight, scam detection, consumer notification and dispute resolution, many with civil penalties. Sector-specific measures include payee confirmation and account monitoring for banks, user and advertiser verification and content checks for digital platforms, and customer verification, traffic blocking and message filtering for telecommunications, with exemptions for smaller digital platforms and standalone purchased payment facility providers. A position paper proposes internal dispute resolution settings, cooperation on multi-party complaints, automatic reimbursement of verified scam losses below AUD 3,000 and equal liability sharing where multiple entities breach the framework.
The International Monetary Fund reached staff-level agreement with The Gambia on the fifth review of its 36‑month Extended Credit Facility and second review of its 18‑month Resilience and Sustainability Facility, alongside the 2026 Article IV consultation, proposing a six‑month extension of both arrangements to July 2027 and an increase in Extended Credit Facility access by SDR 12.44 million. Subject to Executive Board approval, the package would disburse SDR 6.22 million under the Extended Credit Facility and SDR 10.36 million under the Resilience and Sustainability Facility, bringing total disbursements to SDR 55.97 million and SDR 25.9 million respectively.
The Australian Prudential Regulation Authority reported that total superannuation assets fell 1.0 per cent over the March 2026 quarter to AUD 4.4 trillion, while remaining 7.9 per cent higher year-on-year, with APRA-regulated assets up 8.7 per cent to AUD 3.14 trillion. Over the year, self-managed super fund, exempt public sector scheme and life office statutory fund assets all increased, and for entities with more than six members, contributions rose 11.3 per cent to AUD 226.1 billion, benefit payments 12.3 per cent to AUD 143.5 billion, and net contribution flows 9.6 per cent to AUD 74.5 billion.
The Bank of Japan published a climate change disclosure aligned with the Task Force on Climate-related Financial Disclosures, outlining how climate considerations are integrated into monetary policy, financial system oversight, research, international finance and its own operations. It reports that climate response funds-supplying operations have been conducted nine times with 91 counterparties and JPY 21.1 trillion in loans outstanding, and that counterparties must meet specified disclosure standards. The Bank also discloses its own emissions, targets energy efficiency improvements, plans to continue climate response financing loans through fiscal 2030, and will update its TCFD-based disclosure annually.
The Central Bank of Estonia will publish its May 2026 statistics on credit institutions and leasing companies at 08:00 on 29 June, covering changes in the volume and structure of assets, loans and leases, deposits, and interest rates. The release will be presented separately from economic policy releases.
The Angola Capital Markets Commission held a workshop on “Fundamentals of the Capital Market” for the academic community of Kibangas Polytechnic Institute as part of its Financial Education Programme. The session explained how the capital market operates, the main characteristics of traded financial instruments, and the Commission’s role in promoting a fair, transparent and efficient financial environment, and included an interactive question-and-answer segment with students.
The Japan Financial Services Agency reported Cabinet approval to use JPY 513.5 billion from fiscal 2026 contingency funds to support electricity and gas charges from July to September and is preparing a supplementary budget of just over JPY 3 trillion to address Middle East uncertainty. The general contingency fund will be restored to JPY 1 trillion, a new fund created for the Middle East situation, and a JPY 2 trillion priority support local grant will cover areas not eligible for the utility support scheme. Japan’s net external assets at end-2025 rose by JPY 24 trillion year-on-year to JPY 562 trillion, ranking third globally after Germany and China.
The Bank of Japan reported that the Services Producer Price Index rose 3.0 percent year on year in April 2026 (2.5 percent excluding international transportation), with both measures up 0.5 percent from March but at a slower annual pace. Price gains were driven mainly by transportation and postal activities, particularly sharp increases in international transportation, alongside higher information and communications and leasing and rental prices, while weaker growth in several service categories moderated the overall rise.
The Bahamas Ministry of Finance Competent Authority confirmed that the FATCA and CRS reporting deadline for the 2025 reporting period remains June 30, 2026. No administrative penalties will apply to reports filed by July 31, 2026, but the concession is limited to the 2025 period. A bulk CRS registration facility is available for institutions or service providers registering 200 or more entities.
Mexico’s Ministry of Finance and Public Credit, through the Financial Intelligence Unit and the National Banking and Securities Commission, has issued an alert instructing financial institutions to strengthen controls against money laundering and illicit risks linked to human trafficking for the FIFA World Cup 2026. The alert provides indicators and warning signs for detecting unusual transactions, calls for enhanced due diligence, stronger internal controls and closer coordination with competent authorities, and was developed with the U.S. Financial Crimes Enforcement Network and Canada’s Financial Transactions and Reports Analysis Centre.
The IMF Executive Board’s Article IV consultation with Greece found stronger fiscal sustainability and financial stability but slower growth, elevated inflation and mainly downside risks, with real GDP growth projected at 1.8 percent in 2026 and 1.5 percent over the medium term. Directors highlighted strong fiscal performance and urged maintaining primary surpluses, using EU funds for public investment, and keeping energy support targeted and temporary. The 2026 Financial Sector Assessment Program found low but manageable systemic risks and called for stronger oversight of credit servicers, crisis preparedness and bank capital quality, while the Board also pressed for structural reforms to boost productivity and labor participation, cut regulatory burdens, improve skills, address housing affordability and narrow the current account deficit.
The U.S. Department of Justice obtained a court order forfeiting a luxury New York apartment and related rental income purchased with funds misappropriated from 1Malaysia Development Berhad (1MDB), resolving a civil forfeiture case in the U.S. District Court for the Central District of California. The order covers more than USD 6 million in assets linked to an international conspiracy involving high-level 1MDB officials, their associates, and Low Taek Jho, and directs forfeiture of the condominium and rental income held by May Ling Catherine Tan.
The Turks and Caicos Islands Financial Services Commission is consulting on a proposed Virtual Assets Business Bill, 2026, which would establish a comprehensive regulatory framework for virtual asset businesses. The draft bill covers licensing and supervision, anti-money laundering, counter-terrorist and counter-proliferation financing measures, prudential rules for stablecoins, ICT and cyber resilience, sanctions and enforcement powers, and a regulatory sandbox.
The New York State Department of Financial Services published Governor Kathy Hochul’s auto insurance reform package in the FY27 Enacted Budget, targeting staged-accident fraud, litigation and insurer pricing to reduce premiums. The measures tighten eligibility for damages, expand criminal penalties for organizing staged accidents, require prior Department approval for rate increases, cap excess profits and bar the use of homeownership, occupation, education level or zip code in pricing.
The Hellenic Capital Market Commission approved the prospectus of Safe Bulkers Inc. for the admission of all its common shares to trading on the Main Category of the Regulated Market of Euronext Athens and approved the information sheet for Alpha Bank S.A.’s optional public offer to Alpha Trust Holding S.A. shareholders. At the same meeting, it imposed total fines of EUR 41,000 on individuals and investment firms for breaches of disclosure obligations and anti-money laundering organisational requirements under Laws 3556/2007, 3461/2006 and 4557/2018 and related decisions.
The Ministry of Finance of Kyrgyzstan announced the official visit of a Tajik delegation led by Finance Minister Fayziddin Kakhhorzoda to participate in the Bishkek meeting of finance ministers and central or national bank heads from Shanghai Cooperation Organisation member states, as well as the third consultative council on creating an SCO Development Bank. The ministry also noted that 2026 will mark the 25th anniversary of the Shanghai Cooperation Organisation.
The Reserve Bank of New Zealand has filed civil proceedings in the Wellington High Court against The Co‑operative Bank Limited for three admitted breaches of core Anti‑Money Laundering and Countering Financing of Terrorism Act 2009 requirements, with a jointly recommended NZD 1.425 million penalty subject to court approval. The case concerns deficiencies in the bank’s AML/CFT programme—transaction monitoring, assurance over monitoring, and record‑keeping—which led to failures to identify higher‑risk activity and conduct timely enhanced due diligence, though no money laundering or terrorism financing involvement is alleged.
The Ontario Securities Commission has awarded five CAD 30,000 research grants under its inaugural OSC Research Grant Competition to support work on the competitiveness of Ontario’s capital markets. The funded projects, undertaken by five Canadian universities, will examine topics including exchange-traded fund competitiveness, the decline in Canadian public companies, prediction market outcomes, links between market competitiveness and stock price efficiency, and retail execution quality in Canada and the United States.
The Chile Financial Market Commission fined Orsan Seguros de Crédito y Garantía S.A. UF 8,000 for failing to comply with the defining features of first demand guarantee insurance policies. The insurer did not pay amounts claimed under policies issued in favor of the Superintendence of Casinos to secure casino development obligations, contrary to Article 583 of the Code of Commerce and CMF Circular Letter No. 972, and the sanction reflects repeated breaches.
The U.S. Securities and Exchange Commission announced that its Investor Advisory Committee will hold a public meeting to discuss retail investor confusion regarding private market assets, passive index funds and shareholder voting, and potential recommendations on fund proxy voting and fund reporting frequency. The meeting will feature two panels on private market assets and on passive index funds and shareholder voting, and will be webcast on the SEC website.
The European Association of CCP Clearing Houses published an interview with Maud Timon of the European Securities and Markets Authority, who expects clearing to become more concentrated and strategically important, with market fragmentation, credit and collateral pressures, and digital finance developments potentially reducing the number of central counterparties. She anticipates that local or regional CCPs will remain due to links with market structure, currency areas, legal frameworks and public policy, and that supervisory expectations will further elevate CCPs’ risk management and technological resilience.
The SEC’s Trading and Markets Director said the Commission is reviewing near- and long-term reforms to the Consolidated Audit Trail, focusing on funding, governance, functionality, and security, while preserving cross-market surveillance. He said CAT’s operating budget has been cut by more than USD 100 million, and the SEC is seeking input on modernizing broker-maintained blue sheets and a request-response mechanism to link sensitive client data to CAT. He also highlighted the need to surveil products providing U.S. equity exposure outside traditional markets, including tokenized assets, event contracts, and perpetual futures on offshore venues.
The State Bank of Vietnam reported on a meeting between Governor Pham Duc An and Asian Infrastructure Investment Bank President Zou Jiayi on expanding medium and long term financing cooperation in Vietnam. Discussions focused on mobilising long term funding for strategic infrastructure, green growth and energy transition, with priority given to transport (especially rail), energy, digital infrastructure, sustainable urban development and climate adaptation, and on increasing private sector financing, including non-sovereign guaranteed funding for green projects.
The Bank of Portugal reported higher financial stability risks from geopolitical tensions, a potential market correction, residential real estate and increasingly interconnected climate and cyber threats. Banks retain strong profitability, capital and liquidity, supported by macroprudential measures including a 0.75% countercyclical capital buffer.
The Bank of France has appointed Emmanuel Moulin as governor for a six-year term from 2 June 2026, succeeding François Villeroy de Galhau, who becomes honorary governor, with Denis Beau and Agnès Bénassy-Quéré remaining deputy governors. Moulin will chair the Prudential Supervision and Resolution Authority and key observatories on payment security and banking inclusion, sit on the High Council for Financial Stability, and represent the Bank of France on the European Central Bank Governing Council and General Council, the Bank for International Settlements board, the G7 and G20 finance tracks, and as alternate governor at the International Monetary Fund.
The Central Bank of Peru reported that Peru’s terms of trade rose 35.9 percent year on year in the first quarter of 2026, driven by a 37.3 percent increase in export prices led by traditional mining exports. Higher prices for gold, copper, zinc, silver and coffee, as well as most non-traditional exports, outweighed a 1.1 percent rise in import prices, mainly from consumer and capital goods.
Ireland’s Department of Finance reported that the Central Bank (Amendment) Bill 2025 has passed Committee Stage, advancing plans to require insurers to disregard certain cancer-related medical history when underwriting mortgage protection insurance. Agreed measures include a statutory right to disregard after five years’ remission, a higher mortgage protection threshold of EUR 650,000, and reforms to the Insurance Acts 1936 and 1964 to complete Insurance Compensation Fund changes in line with EU requirements.
The National Bank of Moldova has extended its campaign against financial fraud as a long-term public awareness initiative to help citizens recognise scams and verify information through official channels. Conducted with law enforcement, financial regulators and banking associations, the campaign warns that fraudsters use false identities and digital channels to obtain personal and banking data, and reiterates that licensed institutions do not request codes, passwords, full card details or transfers to “safe accounts” by phone or messaging apps.
The National Bank of Moldova recalibrated bank capital buffers by raising the countercyclical capital buffer rate for loans granted in Moldova by 1 percentage point to 2.5% and reducing the systemic risk buffer rate to zero, keeping overall own funds requirements unchanged. The central bank cited credit growth outpacing economic activity and a sustained positive deviation of the credit-to-GDP ratio as evidence of cyclical systemic risk, and said all banks currently hold sufficient capital to meet the new requirement.
The Hellenic Capital Market Commission approved the prospectus for Safe Bulkers Inc.'s admission to Euronext Athens and the offer document for Alpha Bank S.A.'s voluntary public offer for Alpha Trust Holdings S.A. It also imposed EUR 41,000 in fines for stake disclosure breaches and anti-money laundering related organizational failures. The largest penalty was EUR 20,000 for late and missing voting rights notifications.
The Czech National Bank reported that instant payments have become mainstream in the Czech Republic, with 53% of the population using the service, high user satisfaction, and strong growth in volumes processed via the CERTIS interbank payment system. Almost all banks now offer instant payments, including QR-code payments to retailers, and the CNB plans to extend the system to instant euro payments by 2027 while preparing bulk koruna instant payments for use cases such as wage payments.
The Central Bank of Ireland, in its first 2026 Financial Stability Review, said external risks to the Irish financial system remain elevated and have intensified, driven mainly by the war in the Middle East and energy market concerns, and is maintaining the Countercyclical Capital Buffer at 1.5 per cent. It warned of potential sudden tightening in global financial conditions and highlighted amplification risks from leveraged non-bank financial intermediaries, AI-related equity valuations, parts of US private credit, and evolving cyber threats, while noting that Irish banks’ balance sheets remain robust with limited direct exposures. The Bank signalled updated economic forecasts in its June Quarterly Bulletin and said any fiscal response to the energy shock should be time bound and consistent with sustainable fiscal policy.
The Bank of Canada has joined the BIS’s Project Agorá, which is testing whether tokenization can improve wholesale cross-border payments via a multi-currency unified ledger enabling atomic settlement using tokenized commercial bank deposits and wholesale central bank money. The next phase will further test the prototype and assess how such a platform could operate within existing legal and regulatory frameworks, including settlement finality and AML/CFT laws, alongside seven other central banks and over 40 private sector financial institutions.
De Nederlandsche Bank published a speech by Olaf Sleijpen positioning the digital euro as public money in digital form, distributed via banks and payment institutions for everyday in-store, online and person-to-person payments, with offline functionality, privacy safeguards and holding limits. He stressed that the digital euro would complement cash, preserve access to central bank money, and reduce reliance on non-European payment providers, while remaining distinct from cryptoassets, stablecoins and programmable money. Sleijpen said the European Central Bank is in a technical preparation phase and, subject to EU legislation, issuance would not occur before 2029.
De Nederlandsche Bank said the roughly 80 percent rise in crude prices constitutes an oil supply shock, but with smaller macroeconomic effects than past energy crises due to the lower real oil burden and reduced oil dependence of the Dutch economy. It links the shock to disruptions in the Strait of Hormuz and Middle Eastern production, noting higher fuel and transport costs and heightened risks for energy-intensive and diesel-dependent sectors. The central bank is using multiple scenarios to assess the impact of sustained high oil prices and ongoing supply uncertainty.
The Liechtenstein Financial Market Authority has amended FMA Guidance 2019/2 to clarify that vested pension benefits may be paid out in cash only within one year of commencing self-employment. The change removes the previous hardship-based practice of allowing later payouts and aims to align with Switzerland, reduce cross-border circumvention, and strengthen legal certainty and equal treatment.
The Superintendence of the Securities Market of the Dominican Republic, the Ministry of Environment and Natural Resources, and the International Finance Corporation signed a cooperation agreement for the second phase of the country’s green taxonomy project. The initiative will develop regulations to support taxonomy compliance in the financial and real sectors and build market capacity to apply the framework. It is aimed at attracting green investment into strategic sectors such as tourism and energy.
The National Bank of Georgia has released the May editions of its Current Macroeconomic Review and Financial Sector Review. The publications aim to enhance analytical communication and provide timely analytical data to the public via the Publications section of its website.
The National Bank of Georgia reported to Parliament on its 2025 activities, with lawmakers backing a resolution on its monetary, foreign exchange and supervisory policies and audited financial statements. President Natia Turnava noted 3.9 percent average inflation in 2025, a May 2026 policy rate increase to 8.25 percent, a 2.6 percent of GDP current account deficit, higher foreign direct investment, record reserves, reduced dollarization, strong banking sector credit growth and profitability, and continued work on consumer protection, capital markets, pensions, payments, virtual asset service providers and financial technology.
The Central Bank of Latvia’s Supervision Committee has licensed Trek Technologies SIA (Backpack EU) to provide crypto-asset services and operate as a payment institution, allowing it to execute payments and transfers to payment accounts. The crypto-asset licence covers custody and administration, exchange, execution of client orders and transfer services, making Trek Technologies SIA the fifth firm authorised under the Markets in Crypto-Assets Regulation, enabling EU-wide passporting via cross-border notification.
The Central Bank of Trinidad and Tobago met the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce to gather business input on Tobago’s economic conditions and brief stakeholders on payments reforms and its next five-year strategy. The Bank updated participants on the Draft Payment Systems and Services Bill, the CARICOM Payments Settlement System and the domestic Instant Payment System, and invited the Chamber’s views for its 2026–2031 Strategic Plan.
The Insurance Commission of the Bahamas hosted a courtesy meeting with the Bahamas Financial Services Board to strengthen cooperation in supporting insurance sector growth and its alignment with the wider financial services industry. Discussions focused on improving the sector’s domestic and international visibility and on joint initiatives to enhance consumer awareness and financial literacy, highlighting insurance’s role in financial protection, resilience and long-term economic stability.
The IMF’s staff concluding statement for its 2026 Article IV mission to Italy projects GDP growth of 0.5 percent in 2026 and 2027 and calls for faster fiscal consolidation to reduce high public debt. Staff recommend additional fiscal efforts of about 1 percent of GDP over 2026-2027 focused on tax base broadening, improved compliance and spending efficiency, and urge more proactive financial supervision and macroprudential policy alongside continued structural reforms. The 2026 Financial Sector Assessment Program finds the banking sector resilient, supported by strong profitability, capital and liquidity, but highlights the need to address sovereign-bank linkages, legacy non-performing loans and implementation of the National Recovery and Resilience Plan.
The Ukraine National Commission on Securities and Stock Market updated its 2026 rulemaking plan, reference systems, and work on a draft law for a national greenhouse gas emissions quota trading system, and endorsed a Cabinet resolution on eligible foreign exchanges for listing shares of international financial institutions and other issuers, excluding those from Russia, Belarus, Iran, North Korea and other aggressor or occupying states. It also issued investor alerts, adjusted sanctions-related asset lists, withdrew a rating agency’s authorisation, suspended multiple bond series, cancelled an investment fund’s registrations, revised critical-importance status for certain firms, suspended a financial company’s trading licences, and approved senior appointments.
The Federal Deposit Insurance Corporation’s latest Quarterly Banking Profile reports aggregate net income of USD 80.5 billion for 4,278 insured institutions in the first quarter of 2026, up 3.6 percent from the prior quarter, with a return on assets of 1.26 percent despite an 8 basis point decline in the net interest margin to 3.31 percent. Community bank net income rose 3.9 percent, domestic deposits and loan balances grew, and asset quality remained generally favorable, although some commercial real estate and consumer portfolios showed elevated delinquencies. The Deposit Insurance Fund reserve ratio increased to 1.43 percent and capital and liquidity levels remained strong.
The State Bank of Vietnam reported that 113 delegates from its Party Committee, internal units and inspection functions joined a nationwide hybrid conference on updated legal rules and professional training for Party inspection and supervision. Organised by the Central Inspection Commission and linked to more than 3,000 sites, the programme covered new legal requirements on organisation and personnel, science and technology, public finance and assets, land and natural resources, oversight of key Central resolutions and deployment of inspection software, emphasising stronger legal foundations, specialist expertise and digital tools for supervisory staff.
The State Bank of Vietnam’s Financial Stability Task Force reviewed the draft 2025 Financial Stability Report and set 2026 priorities to strengthen analytical, forecasting and early warning capacity and improve policy coordination. The draft finds Vietnam’s financial system remained stable in 2025, with estimated GDP growth of 8.02 percent, inflation of 3.31 percent, improved balance of payments and expanding credit institutions as the main funding channel. The 2026 report will provide a more detailed assessment of overall and sectoral financial stability, with members asked to identify gaps and needed adjustments.
The Financial Services Regulatory Authority of Ontario has imposed administrative penalties on Andrew White following a settlement for breaches of the Mortgage Brokerages, Lenders and Administrators Act, 2006. White provided information about a prospective borrower to a prospective lender contrary to section 2(3) and carried on, or held out as carrying on, the business of mortgage lending without a brokerage licence or exemption contrary to section 4(2).
The Portuguese Securities Commission’s annual conference examined how technological innovation could reshape capital markets in Portugal and the European Union. Discussions covered artificial intelligence, distributed ledger technology, investor protection and the regulatory implications for supervised entities.
The Bank for International Settlements Innovation Hub published the Project Agorá report on a prototype shared distributed ledger platform combining tokenised commercial bank deposits and central bank reserves for atomic multi-currency wholesale cross-border settlement. Its two-layer architecture preserves correspondent banking while aiming to cut delays, failed payments and reconciliation burdens. Testing showed atomic settlement is achievable across all seven participating jurisdictions without direct legal or regulatory conflicts, though further work is needed on settlement finality, governance and interoperability. Participating central banks and private institutions plan to explore the prototype further and expand the private sector role.
The Central Bank of Ireland’s latest Financial Stability Review finds that risks to Ireland’s financial system from the global environment have intensified, driven by a persistent global energy supply shock, potential financial market corrections, vulnerabilities in parts of the global non-bank sector and rising cyber risks. Prolonged energy disruption could raise inflation, slow growth and increase costs for households and businesses, while high valuations and debt-funded investment in the artificial intelligence sector and greater use of private credit add to vulnerabilities. The review stresses the need to maintain strong bank capital buffers, prudent lending standards and operational resilience, and notes that public finances remain exposed due to reliance on corporation tax-driven surpluses.
The Reserve Bank of New Zealand announced that the Government has decided in principle to introduce a levy under the Reserve Bank of New Zealand Act to fund the Bank’s prudential functions and powers. The Bank will consult, on the Minister’s behalf, with affected entities on whether the levy should cover all or part of these costs, which sectors should be in scope, and how individual levy amounts should be determined, in line with section 296(1) of the Act.
The Bank for International Settlements and the Institute of International Finance published a Project Agorá report finding that tokenisation and programmable technology can reduce inefficiencies in wholesale cross-border payments while preserving settlement in central bank reserves. The prototype demonstrated atomic settlement of tokenised central bank reserves and commercial bank deposits across currencies and jurisdictions, with a layered architecture supporting central bank control, privacy, regulatory compliance and enhanced financial crime controls. The project will move to testing with real-value transactions, a larger private sector role and the addition of the Bank of Canada.
The Czech National Bank reported that instant koruna payments have become a mainstream retail method, with 53% of Czechs using the service, high satisfaction and growing volumes, supported by near-universal bank coverage and 24/7 CERTIS operation. It highlighted rising QR code merchant payments, emerging private applications, and use for taxes, fees and other public payments. The CNB plans to introduce instant euro payments in 2027, requiring banks to receive and later send such payments continuously, and is working with banks on bulk koruna instant payments for wages.
The European Central Bank published a working paper proposing an econometric framework to identify relationship-specific credit demand and supply shocks in firm-bank networks using jointly observed price and quantity data. Using AnaCredit data for nine euro area countries from 2019 to 2023, the authors find large within-firm and within-bank shock variation, substantial bias in standard fixed-effects estimates, and that post-2022 monetary tightening had stronger negative effects on firms with floating-rate or short-term borrowing.
The European Central Bank published a working paper using Consumer Expectations Survey data from 11 euro area countries (2020–2024), finding that household participation in risky assets remains low and broadly stable despite inflows of new investors. About 10% of non-stockholders enter the stock market each year while more than 20% of stockholders exit, with non-participation driven by financial constraints and behavioural barriers, and pandemic-era gains in participation fragile. The paper also reports that crypto ownership of around 8% to 10% is concentrated among younger, male and more risk-tolerant households, with small, speculative holdings and trust concerns limiting wider adoption.
The Hong Kong Monetary Authority reported that Hong Kong Interbank Clearing Limited has identified a fraudulent website, paymentystemfps.click, impersonating HKICL to obtain users’ login credentials and divert them to WhatsApp chats with fraudsters posing as customer service staff. HKICL clarified it has no connection with the site, does not use WhatsApp for communication, and urged the public to verify suspicious contacts and report suspected fraud to the Police.
The Hong Kong Monetary Authority alerted the public to recent bank notices on fraudulent websites, fake internet banking login screens, phishing emails and related scams, and has posted links to these notices on its website. It reiterated that banks do not send embedded hyperlinks for transactions or request sensitive information by phone, email or SMS, and advised anyone who has disclosed information or transacted in response to such scams to contact their bank and report the matter to the Hong Kong Police Force.
The BIS Committee on Payments and Market Infrastructures and the Financial Stability Board report gradual improvements in payment infrastructure, access and standards under the G20 cross-border payments roadmap but find uneven implementation and deem the 2027 targets unlikely to be fully met. The 2025 survey notes wider use of fast payment systems, longer RTGS hours, greater non-bank access, broader cross-border processing and increased ISO 20022 and API adoption. Priorities include scaling fast payment links, expanding access for non-banks and foreign banks, extending RTGS hours in the Americas and Europe, and aligning ISO 20022 implementations with CPMI harmonisation requirements.
The National Bank of Serbia has published draft amendments to the law on protecting financial service users in distance contracting to align Serbia’s framework with EU rules, reflecting Directive 2023/2673 on distance marketing of financial services. The draft introduces new requirements for providers using online interfaces, including a ban on misleading design, easier withdrawal from distance contracts and additional pre-contract information obligations, with the main practical impact expected in new functionality requirements for online channels.
The National Bank of Serbia published its weekly overview of global financial markets for 18–22 May 2026, highlighting shifting signals on US-Iran negotiations, Federal Reserve minutes indicating no urgency to cut rates, and weaker euro area activity data. The review notes modest euro depreciation against the US dollar, mixed moves in US and German government bond yields, and declines in gold and Brent crude prices. It also flags renewed pressure on Turkish assets after a court ruling and Poland’s CHF 885 million three-tranche bond issue, including a 10-year green bond.