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2026-05-26•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market held a two-day staff training on implementing the European Union crowdfunding regulation, supported by the EU’s Ukraine2EU initiative. The programme focused on platform operating rules, licensing, investor protection, supervisory models and key risks to prepare the regulator to oversee crowdfunding platforms and align Ukrainian legislation with EU standards.
Institutional developmentCooperation & capacity buildingCrowdfunding
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2026-05-26•Russia•Central Bank of Russia
The Central Bank of Russia reported that its Business Climate Index fell to 1.7 points in May from 2.1 points in April, as firms became more cautious about output and demand over the next three months despite a more positive assessment of current demand. Business price expectations also declined month on month and on average moved below 2024–2025 levels, according to the May monitoring commentary.
Data & statisticsEconomic data and developments
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2026-05-26•Kyrgyzstan•State Service for Regulation and Supervision of Financial Markets
The Kyrgyz Republic’s State Service for Regulation and Supervision of Financial Markets has intensified monitoring of virtual asset market participants to improve transparency and stability and prevent breaches of virtual asset rules, terrorist financing, money laundering and sanctions evasion. Supervisory focus will include compliance with virtual asset legislation, customer due diligence, suspicious transaction reporting, sanctions measures, and the effectiveness of internal compliance and risk management systems. The authority will continue to cooperate with domestic agencies, international partners and industry participants in line with international standards such as the Financial Action Task Force recommendations.
SupervisionSupervision approach, priorities & toolkitRegulatory sandbox
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2026-05-26•Hong Kong•Hong Kong Securities & Futures Commission
The Financial Services & the Treasury Bureau and the Hong Kong Securities & Futures Commission have issued consultation conclusions on proposals to regulate virtual asset advisory and management service providers under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The regimes will align with Type 4 and Type 9 activities under the Securities and Futures Ordinance and complement Hong Kong’s proposed virtual asset dealing and custody regimes. The authorities aim to introduce a bill into the Legislative Council in 2026 and encourage firms to engage early with the SFC for pre-application discussions.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-26•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has launched a consultation on updated guidelines for standardised procedures and messaging protocols to support the European Union’s move to a T+1 settlement cycle. The draft changes mandate electronic, standardised communication channels and international messaging standards for allocations and confirmations, removing non-electronic methods except in temporary technical disruptions, and align the guidelines with proposed amendments to the Regulatory Technical Standards on Settlement Discipline.
Policy & regulationGuidance & interpretationMarket infrastructure
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2026-05-26•China•Central Bank of the Republic of China
The People's Bank of China Deputy Governor Xuan Changneng met SWIFT Chief Executive Javier Perez-Tasso to discuss bilateral financial cooperation. The parties exchanged views on strengthening collaboration between the central bank and SWIFT.
Policy & regulationCooperationCross-border cooperation
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2026-05-26•Europe•European Central Bank
The European Central Bank published a Working Paper Series study on how carbon pricing under the EU Emissions Trading System affects employment, using quarterly microdata from 23 EU countries between 2007 and 2019. It finds that an exogenous 1 percent increase in EU-ETS prices reduces aggregate employment by about 0.2 percent after roughly 18 months, with a much larger impact on more polluting jobs, and that effects are stronger where fewer emissions are covered by free allowances and weaker where employment protection legislation is stricter.
ResearchCarbon markets
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2026-05-26•Europe•European Central Bank
The European Central Bank published blog analysis of first quarter 2026 Survey on the Access to Finance of Enterprises data around the 28 February outbreak of the United States–Iran war, indicating an immediate supply-driven shock for euro area firms. Firms sharply raised expectations for non-labour input costs, selling prices and one-year inflation, became more pessimistic on near-term turnover, investment and bank loan availability, and reported the strongest deterioration in energy-intensive sectors such as construction and transportation. Wage cost expectations and three- and five-year inflation expectations remained broadly stable, suggesting firms viewed the shock as temporary.
ResearchGeopolitical risk
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2026-05-26•Europe•European Central Bank
The European Central Bank has published a working paper proposing a sequential deep learning method to solve dynamic stochastic general equilibrium models without a pre-computed starting approximation. The authors report that relatively shallow networks offer the best accuracy-cost trade-off and that, in a two-country open-economy model, the method captures strongly non-linear tariff shock responses, including exchange-rate sign reversals that local solution methods miss.
ResearchArtificial intelligence
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2026-05-26•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan published results of a foreign exchange purchase auction with seven participants and accepted bid sizes between USD 400,000 and USD 10,215,000. The weighted average rate on accepted bids was 9.2559 USD/TJS.
Monetary policyMonetary policy instruments & operationsOther
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2026-05-26•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urged shareholders of Origin Global Empire Public Company Limited to carefully review materials and the independent financial advisor’s recommendation to reject a proposed disposal of all DRJ Group subsidiaries and related acquisitions of Multita Co., Ltd. and newly issued shares in SPT X Public Company Limited. The authority also wrote to EMPIRE’s board and audit committee, stating that their response did not adequately address concerns over the reliability of information on Multita and SPTX.
SupervisionAlertsCorporate governance
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2026-05-26•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission is consulting on revisions to net capital requirements and digital asset custody rules for digital asset business operators, alongside changes to the capital framework for securities and derivatives firms. Proposals introduce counterparty, settlement and fund management risks into the NC-1 approach, recalibrate net capital for digital asset custodians, align capital rules and cessation thresholds with mixed traditional and digital asset activities, broaden the definition of derivatives business operators, and update net capital reporting.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2026-05-26•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority relayed a warning from Hong Kong Interbank Clearing Limited about fraudulent Faster Payment System Facebook advertisements that impersonate FPS and seek users’ credentials by requesting Hong Kong identity card scans for purported lending. HKICL clarified it has no Facebook channel and does not usually contact individuals, and the public was urged to treat suspicious communications with caution, protect personal data, and report suspected fraud to the Police.
SupervisionAlertsFraud and scams
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2026-05-26•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina has updated its potential GDP and output gap estimates, projecting moderate potential growth of 3.38 percent in 2026, 3.32 percent in 2027 and 3.07 percent in 2028, with a small negative output gap of 0.26 percent in 2026 expected to close by the end of the period. It notes that real growth exceeded potential from 2022 to 2025, partly due to strong nominal wage growth in 2025, but stresses that potential growth remains too low for faster convergence with the European Union, underscoring the need for productivity gains and higher labour participation. The bank will refine its model by developing firm- and industry-level productivity estimates and replacing some assumptions with model-based estimates from next year.
Research
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2026-05-26•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets’ annual Financial Stability Report finds that the escalation of the conflict in the Middle East has worsened the global outlook and heightened valuation, liquidity, operational and cyber risks for financial firms. It highlights vulnerabilities in the Dutch TTF gas derivatives market, growing dependence on non-European digital infrastructure and AI-related fraud and market integrity risks, with investment fraud losses in the Netherlands estimated at about EUR 750 million. The report also flags private credit illiquidity and transparency issues and expects asset managers to strengthen liquidity risk management.
SupervisionRisk monitoring & watch points
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2026-05-26•Serbia•National Bank of Serbia
The National Bank of Serbia has published a draft Law on Credit Institutions to strengthen bank regulation and align Serbia’s framework with European Union requirements under Chapter 9 of the accession negotiations. The draft transposes the European Union regime on access to credit institution activities and prudential supervision under Directive 2013/36/EU and on recovery and resolution of failing credit institutions and investment firms under Directive 2014/59/EU.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-26•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has required individuals listed in an attached notice to pay a fee of VND 1,000,000 per securities practice certificate to complete the licensing process, in line with the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment may be made by bank transfer or in person, and certificates will be cancelled if recipients do not complete the collection procedure within one year of the fee payment notice.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2026-05-26•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka raised the Overnight Policy Rate by 100 bps to 8.75%, after holding at 7.75% in January and March 2026, citing inflation above target, stronger demand and intensifying external sector pressures amid domestic and global uncertainty. It said April 2026 headline inflation rose to 5.4% year on year on domestic energy price adjustments linked to high oil prices, while credit growth, credit-driven imports, a wider fuel-led trade deficit, slower tourism earnings and recent rupee depreciation pressure supported tighter policy.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-26•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has opened a public consultation on a draft resolution to amend several regulatory acts on the licensing and regulation of specialized financial organizations. The consultation seeks stakeholder feedback on the proposed changes.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-26•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission rejected a proposed settlement in an administrative proceeding against the CEO and CFO of REAG Capital Holding S.A., after its settlement committee found the case inseparable from other ongoing proceedings involving the REAG group and related parties. The case concerns alleged failures by REAG Capital Holding to disclose full annual and standardized financial statements for 2024 and to prepare quarterly information forms for the first and second quarters of 2025, potentially breaching Article 176 of Brazil’s Corporations Law and Article 31 of CVM Resolution 80.
EnforcementInvestigations & enforcement actions
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2026-05-26•Global•Bank for International Settlements
The Bank for International Settlements published research showing that supervisory scrutiny alone can significantly increase banks’ cybersecurity spending, based on the European Central Bank’s 2024 cyber resilience stress test for 109 large euro area banks. The announcement of the qualitative test, which had no capital consequences and did not disclose bank-level results, was associated with a 45% rise in sector-wide cybersecurity investment, with prior underinvestors increasing spending by about 80% and adjusting outsourcing, staffing and cyber insurance in response to more intensive supervisory follow-up.
Research
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2026-05-26•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported U.S. house prices rose 1.7 percent between the first quarter of 2025 and the first quarter of 2026, with a 0.5 percent quarterly increase and a 0.1 percent monthly gain in March. Price gains occurred in 42 states and 65 of the 100 largest metropolitan areas, with Illinois and the Elgin, Illinois metro area recording the strongest annual increases and Colorado and Austin-Round Rock-San Marcos, Texas posting the largest declines. FHFA also expanded its Expanded-Data House Price Index coverage from 50 to more than 400 metropolitan areas.
Data & statisticsFinancial and market indicators
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2026-05-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam, together with domestic partners, announced Digital Finance Day 2026 under the theme Smart Payments Driving Digital Finance, recasting the annual No Cash Day into a broader digital finance initiative. The programme positions cashless payments as the foundation for wider access to modern financial services, highlights growth to 25.2 billion transactions worth over VND 362 quadrillion by end-2025, and includes QR code migration in key commercial areas and public events, plus education on safe digital finance and new rules for household businesses.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-05-26•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority has issued Circular No. 5/2026 to revoke the extraordinary supervisory measures and additional monthly reporting regime introduced during the COVID-19 pandemic and extended in 2022, effective from the May 2026 reference period. The move repeals Circular Letters No. 4/2020 and No. 10/2020 and Circulars No. 5/2020, No. 6/2021 and No. 6/2022, as regular reporting is deemed sufficient, while reserving the option to reintroduce exceptional measures if macroeconomic conditions deteriorate.
Policy & regulationRules & requirementsGeopolitical risk
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2026-05-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam used the launch of its 2026 Digital Finance Day programme to outline a digital finance agenda focused on revising the legal framework for digital banking and non-cash payments, upgrading national payment infrastructure, and expanding bilateral cross-border QR retail payments, with an emphasis on data protection and system security. It reported strong growth in non-cash payments, high levels of digitalisation in banking operations, and active use of its SIMO fraud monitoring system, and plans further legal revisions and broader deployment of standardised payment QR codes and cross-border QR links.
Policy & regulationRules & requirementsPayments and payment systemsFinancial inclusion
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2026-05-26•Finland•Finanssivalvonta
The Finnish Financial Supervisory Authority published a thematic review of retail instant credit transfer services, finding that instant payments generally meet the 10-second execution requirement but that customer communication and some security practices fall short of regulatory expectations. It calls on banks to strengthen security limits, payee verification warnings, fraud monitoring and risk-based automatic blocking, and will monitor remediation of shortcomings, including in sanctions screening linked to the Instant Payments Regulation.
SupervisionReviews, inspections & stress testsPayments and payment systemsFraud and scams
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2026-05-26•Global•Bank for International Settlements
The Bank for International Settlements published a research volume for emerging market economy Deputy Governors on how post-crisis shifts in capital flows, exchange rates and global financial conditions are reshaping EME financial structures and policy choices. The papers find a move from bank lending to bond and equity financing, greater local currency use, larger resident outflows, a bigger role for non-bank financial institutions and stronger intraregional integration, which have supported resilience but left domestic conditions heavily influenced by global factors, especially the US dollar. The volume highlights evolving use of policy rates, foreign exchange intervention, macroprudential tools and financial conditions indices, and flags the growing importance of NBFIs, deeper foreign exchange markets and the potential impact of cryptoassets and stablecoins on capital flows and monetary policy.
ResearchCross-border paymentsForeign exchange policy and markets
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2026-05-26•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reminded policyholders of the simplified Europrotocol procedure for filing compulsory motor insurance claims at accident scenes without traffic police or courts, subject to valid insurance, loss limits, agreed fault, and no injuries or third‑party damage. Claims must be submitted via designated mobile apps or insurers’ websites using digital identification and on-site photo and video evidence, and drivers must remain until insurer confirmation. The agency reported 27,822 accidents processed and KZT 5.5 billion paid under Europrotocol, noting faster payments and reduced pressure on roads and courts.
Policy & regulationGuidance & interpretationOther
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2026-05-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published a supervisory report on Sem & Johnsen Oppgjør og Administrasjon AS identifying multiple errors in real estate settlements and concluding that the firm’s internal control system was not adequately designed to prevent serious failures. It highlighted weaknesses in settlement practices under the Housing Construction Act and in anti-money laundering compliance, noting that most breaches occurred before 1 July 2025, when the administrative penalty provision took effect. The firm has tightened routines, enhanced training and controls, committed to updating its anti-money laundering risk assessment and procedures, and was instructed to share the report with its auditor.
SupervisionReviews, inspections & stress testsOperational risk and resilience
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2026-05-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway reported that the share of new loans granted under flexibility quotas outside the lending regulation’s requirements rose slightly in the first quarter of 2026, covering residential mortgage loans, consumer loans and loans secured on assets other than housing. The report is based on quarterly data from a sample of Norwegian and foreign financial undertakings on total lending volumes and deviations from each regulatory requirement.
SupervisionRisk monitoring & watch pointsLending
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2026-05-26•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority suspended trading in BioSenic financial instruments (ISIN BE0974280126) on Euronext Brussels at the company’s request. The suspension took effect at 10:40 CET on 26 May 2026 and will remain in place until the publication of a press release.
SupervisionAuthorisations & approvalsTrading
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2026-05-26•Global•World Bank
The World Bank’s Spring 2026 Afghanistan Development Update reports real GDP grew 4.8 percent, but rapid population growth, weak investment, and structural constraints caused a 5.6 percent fall in GDP per capita and worsening living standards. Inflation reached 7.6 percent by March 2026, the current account deficit widened to 36.1 percent of GDP, and declining external grants constrained infrastructure and shock response despite stronger domestic revenue collection. The World Bank projects growth to slow to about 4 percent in 2026 and calls for stronger private sector policies, better access to finance, and higher infrastructure investment to sustain recovery.
Research
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2026-05-26•Laos•Bank of the Lao
The Bank of the Lao briefed industry on subordinate rules under the revised Law on Payment Systems, detailing the supervisory framework for payment system operators and payment service providers, including licensing, service categories, governance, reporting, monitoring and inspection requirements. The session also covered rules on fintech testing, payment and electronic money services, and presented findings from 2025 inspections highlighting outstanding compliance issues for providers to address.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2026-05-26•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission reported that premium revenue from new foreign-currency denominated life insurance policies reached about TWD 148.996 billion at end-March 2026, up 50% year on year from TWD 99.476 billion. Investment-linked products contributed TWD 23.936 billion, or about 16% of the total, up 54% year on year, while traditional products contributed TWD 125.06 billion, or about 84% of the total, up 49% year on year.
Data & statisticsFinancial and market indicators
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2026-05-26•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India has amended its Master Circular on Corporate Governance to revise performance parameters for key management persons at insurers, shifting emphasis towards customer outcomes, governance, and transparent disclosures. Performance is now tied to financial soundness, product performance, claim responsiveness, grievance redressal, removal of dark patterns, and enhanced disclosures, including multi-year, comparable data in accessible formats. IRDAI also signalled further work on a sector-wide framework and benchmarking key management person remuneration.
Policy & regulationRules & requirementsCorporate governance
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2026-05-26•Bulgaria•National Bank of Bulgaria
The Bulgarian National Bank has amended its ordinance on capital buffers, combined buffer requirements, distribution restrictions and recommendations for additional own funds. The changes ensure that information produced under the ordinance can be submitted to the European Single Access Point and introduce formatting requirements to enable machine search, filtering and analysis.
Policy & regulationRules & requirementsRegulatory reporting
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2026-05-26•South Africa•South African Reserve Bank
The South African Reserve Bank reported that the composite leading business cycle indicator rose 2.4% in March 2026, driven by faster real M1 growth, a wider long-term government bond–Treasury bill yield spread, and gains in export commodity prices, approved building plans, new passenger vehicle sales and job advertisements. The composite coincident indicator fell 0.1% and the lagging indicator rose 0.6% in February 2026, reflecting weaker manufacturing capacity utilisation and industrial production, while some component series were unavailable and the indicators remain subject to revision.
Data & statisticsEconomic data and developments
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2026-05-26•Ireland•Central Bank of Ireland
The Central Bank of Ireland Deputy Governor outlined a positive stance on tokenised finance, stressing system-wide coordination, interoperable infrastructure and central bank money as the anchor, while noting macrofinancial issues such as stablecoin growth, capital markets intermediaries and potential DLT fragmentation. He set out a three-part response: enabling DLT-based settlement in central bank money and advancing the Digital Euro; expanding eligibility of DLT-issued assets as Eurosystem collateral; and authorising and supervising MiCA entities while using the innovation sandbox and consultation to assess regulatory changes. The Bank will also support work on a longer-term European tokenised financial ecosystem.
Policy & regulationGuidance & interpretationTokenization
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2026-05-26•Ukraine•National Bank of Ukraine
The National Bank of Ukraine, the European Bank for Reconstruction and Development and Korn Ferry have launched a scoring self-assessment model for financial institutions that signed the Charter on Financial Inclusion and Reintegration of Veterans, to gauge their readiness to work with veterans as employers and financial service providers. The model assesses human resources policies, financial products and services using a maturity framework with differentiated benchmarks for small, medium and large institutions. Participants also discussed a Financial Inclusion Development Strategy, to be finalized by end-2026, with support for military personnel, veterans and their families as a key goal.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2026-05-26•Greece•Ministry of National Economy and Finance (Greece)
The Ministry of National Economy and Finance announced that Deputy Minister Nikos Papathanasis has submitted to the European Commission a EUR 1.63 billion Recovery and Resilience Facility payment request, covering 34 milestones and marking Greece’s eighth grants and seventh loans request. Greece has completed 112 of 130 reform milestones (86.15%), including health, employment, social cohesion, digital, and economic resilience measures, as well as milestones on EUR 11.5 billion of contracted loans and EUR 600 million-backed venture capital schemes. A final, ninth payment request is planned for September 2026.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2026-05-26•Denmark•National Bank of Denmark
The National Bank of Denmark’s biannual Financial Stability analysis finds Denmark’s risk outlook has worsened amid sharply rising house prices and heightened geopolitical and energy price uncertainty, and cautions against easing lending rules. It highlights more pronounced housing market warning signs in Copenhagen, increased but still limited use of mortgage-like bank loans, and potential spillovers from sharp global market price falls. The analysis notes banks’ high profits and stress tests indicate the sector can withstand a severe recession, though corporate borrowers could be vulnerable under significantly higher energy prices and interest rates.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2026-05-26•Global•Islamic Financial Services Board
The Islamic Financial Services Board’s 2026 Islamic Financial Stability Report finds the Islamic financial services industry expanded to about USD 4.4 trillion in assets in 2025, with growth across banking, capital markets and insurance and stronger momentum in non-bank segments. It warns that new hybrid products and balance-sheet structures are reshaping Islamic banks’ risk profiles in ways not fully captured by current frameworks, and calls for enhanced capital treatment, macroprudential monitoring and oversight of operational dependencies. The report also highlights rising external risks from geopolitical tensions and market volatility and urges more proactive risk management, stronger liquidity preparedness, forward-looking supervision and reinforced crisis management.
ResearchFinancial stability and systemic riskPrudential risks
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2026-05-26•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines now requires money service businesses to submit the Financial Reporting Package for MSBs in XML via the Prudential Reporting Innovation and Monitoring Engine under the BSP Relationship Management System. The rule covers remittance transfer companies, money changers, foreign exchange dealers, and virtual asset service providers, with an observation period before live submissions. Existing reporting standards and sanctions remain, and other MSB reports continue under current arrangements until further guidance.
Policy & regulationGuidance & interpretationRegulatory reporting
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2026-05-26•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has permanently banned former Nerico Brothers Limited responsible officer and director Paul Wan Kai Leung from the industry for his role in misusing and misappropriating client funds and providing false or misleading information. The SFC found that Nerico Brothers used over USD68 million of client funds for its own account, facilitated a scheme that misappropriated about USD154 million more, and submitted fabricated explanations and documents, with Wan authorizing transfers and executing facilitating documents. Wan withdrew his application to the Securities and Futures Appeals Tribunal to review the SFC’s August 2025 decision in May 2026.
EnforcementSanctions & designationsClient asset custody and safekeepingCorporate governance
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2026-05-26•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia reported that the Kuala Lumpur High Court has allowed its appeal and made absolute a garnishee order nisi against Goh Chin Liong and Leong Ah Chai, enabling recovery of the RM5.83 million judgment sum from a 2022 insider trading ruling involving WCT Berhad shares. The court also ordered each defendant to pay an additional RM5,000 in costs, and the regulator will proceed with recovery while the defendants’ main appeal remains pending before the Court of Appeal.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-26•Europe•European Central Bank
The European Central Bank published a special feature on stress in global private credit markets and implications for euro area financial stability, finding limited direct exposures and low systemic risk, with main vulnerabilities arising indirectly via leveraged loans, high-yield bonds and equities. Simulations show contained bank losses, larger losses for insurers and the largest relative losses for pension funds, driven mainly by second-round market revaluations. The ECB calls for closer monitoring, better data, a harmonised global definition of private credit, and for reviewing whether existing recommendations on liquidity mismatches and leverage in non-bank finance should apply more directly to private credit funds.
ResearchCredit riskFinancial stability and systemic risk
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2026-05-26•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Ministry of Finance of the Republic of Uzbekistan held an open dialogue with IT Park residents and other digital economy participants to identify sector issues and proposals, which it has forwarded to relevant ministries and agencies for review and action. Discussions focused on tax procedures for marketplaces and e-commerce platforms, the use of QR codes in goods classification, and measures to support artificial intelligence and other modern IT technologies.
Policy & regulationCooperationOther
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2026-05-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published a supervisory report on Axactor Norway AS, finding the firm breached good debt collection practice by adding a 25 percent VAT-equivalent uplift to extrajudicial collection costs in cases for Axactor Capital AS, despite both entities being in the same VAT group. The authority states the uplift is only permitted where the creditor incurs non-deductible VAT, and expects Axactor Norway to repay overcharged debtors, restart unsettled cases with new notices, correct cases from the past three years and confirm changes to its collection routines, while also noting issues with client money reconciliation, risk management and ICT governance.
SupervisionReviews, inspections & stress testsOperational risk and resilienceOutsourcing and third-party risk management
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2026-05-26•Japan•Ministry of Finance (Japan)
Japan’s Ministry of Finance published year-end 2025 estimates of the international investment position, reporting external assets of JPY 1,805.6 trillion, external liabilities of JPY 1,243.9 trillion and a net position of JPY 561.8 trillion, up JPY 23.7 trillion from end-2024. Asset growth was driven mainly by portfolio and direct investment and by exchange-rate and other valuation effects, while liabilities rose largely through portfolio and other investment, with stock and bond price movements also affecting positions.
Data & statisticsBalance of payments and other external statistics
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2026-05-26•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service has designated 42 highly indebted business groups as 2026 main debtor groups, based on borrowings above KRW 2.5569 trillion and bank credit exposure above KRW 1.5032 trillion. These groups account for KRW 386.9 trillion of banks’ KRW 2,173.2 trillion enterprise credit and total borrowings of KRW 743.9 trillion. Principal creditor banks will assess their financial stability and implement restructuring and turnaround agreements for vulnerable groups to manage credit risk.
SupervisionRisk monitoring & watch pointsCredit riskSupervision process and methodologies
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2026-05-26•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has cancelled the Australian financial services licence of Global Pacific Solutions Group Pty Ltd, effective 20 May 2026, on the basis that the firm is no longer carrying on a financial services business. ASIC acted under section 915B(3)(a) of the Corporations Act; the firm held AFS licence 514164 since 24 February 2019 and may seek review by the Administrative Appeals Tribunal.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-05-26•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission reported that internal stress and liquidity tests show most life and non-life insurers maintain capital and liquidity well above supervisory requirements despite risks from the Middle East conflict. As of the fourth quarter of 2025, capital adequacy ratios were 442.4 percent for life insurers and 367.2 percent for non-life insurers against a 140 percent minimum. The regulator expects slower premium growth in 2026 amid weaker economic conditions and will continue to monitor conflict-related and global economic risks, focusing on more exposed lines such as travel, marine, aviation, energy, property and business interruption.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskStress testing
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2026-05-26•Uruguay•Central Bank of Uruguay
Central Bank of Uruguay kept the Tasa de Política Monetaria at 5.75 % for a second straight meeting after 325 bp of cumulative cuts since Oct 2025, citing anchored two-year inflation expectations at the 4.5 % target and ongoing disinflation. The Board noted a slight uptick in inflation risks from higher energy prices and tighter global yields and signalled readiness to act if needed.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-26•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance secured Cabinet approval for an amendment to the Foreign Exchange Transactions Act bringing cross-border virtual asset transfer businesses into the foreign exchange control framework. These businesses must register with the Minister of Economy and Finance and report cross-border transfer details via the Bank of Korea’s foreign exchange electronic network, with data shared with tax, customs, supervisory and financial intelligence authorities. Non-compliant operators will face sanctions comparable to those applied to existing foreign exchange institutions.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2026-05-26•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported that the delinquency rate on domestic banks’ won-denominated loans fell to 0.56% at end-March 2026 from 0.62% a month earlier, but remained above 0.53% a year earlier. The improvement reflected higher resolved loans and fewer new delinquencies, with notable declines in small and medium-sized enterprise and household loan delinquency, while large corporate loan delinquency rose. The authority said domestic banks typically reduce delinquency rates toward quarter-end through closer management of delinquent loans.
Data & statisticsFinancial and market indicators
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2026-05-26•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendence of Banking, Insurance and Private Pension Fund Administrators of Peru is close to completing the diagnostic phase of its open finance roadmap and will next move into the regulatory phase, targeting approval of a Banking as a Service framework as a key near-term step. The World Bank–supported diagnostic highlighted existing API experience, implementation gaps, and high-potential use cases in credit assessment and personal and business financial management, with security identified as the main concern. The authority plans to share the outline of the future open finance model with industry ahead of a planned 2028 start.
Policy & regulationImplementation, projects & pilotsOpen banking and finance
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2026-05-26•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines held its first Corporate Governance Summit for directors of universal, commercial, and digital banks to reinforce governance expectations and link board oversight, internal controls, and accounting transparency to prudential rules on capital, liquidity, and disclosure. The event focused on global governance practices, leadership and culture, and digital and cybersecurity governance, with contributions from international and domestic experts. The central bank plans to use the summit as a continuing platform for dialogue and best-practice sharing.
Policy & regulationGuidance & interpretationCorporate governance
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2026-05-26•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau and the Securities and Futures Commission have published consultation conclusions on separate licensing regimes for virtual asset advisory and management service providers, aligned with Type 4 and Type 9 regulated activities under the Securities and Futures Ordinance. Most respondents supported the proposals while seeking clarifications. The authorities are finalising legislative proposals covering virtual asset dealing, custodian, advisory and management service providers, aiming to introduce a bill into the Legislative Council this year.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-26•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury will temporarily cut value added tax from 20% to 5% on selected family-related spending, including children’s restaurant meals, family tickets for cinemas, theatres and shows, and admission to attractions, and will extend the Island’s temporary fuel duty reduction until 31 December 2026. Red diesel duty for farmers and fishermen will also fall by more than a third from 15 June 2026 until year-end, mirroring a UK Government VAT cut and avoiding a fuel duty increase that would otherwise have applied under the Customs and Excise Agreement.
Policy & regulationRules & requirementsOther
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2026-05-26•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority’s 2026 Climate-related Disclosures Insights Report reviews 62 climate statements from the second year of the mandatory regime, noting more mature reporting, clearer structures, improved greenhouse gas disclosures, and stronger governance and risk explanations. It calls for more decision-useful physical risk disclosures, stronger data and analysis, clearer links between risks and transition planning, and more complete greenhouse gas assurance. The authority will continue monitoring with an educative approach, including further engagement and support on physical risks.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2026-05-26•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has filed complaints with the Public Prosecutor's Office for alleged fraud against those responsible for three entities that offered mortgage loan advisory and processing services, collected advance payments, and then failed to provide services or refunds. The Commission states that Wolv Brokers (or Wolv Inmobiliaria), Asesoría Estratégica Inmobiliaria SPA, and MAX Millón SPA falsely claimed to be supervised, and it warns the public about similar scams and directs users to its fraud alerts page to verify entities and review alerts on unregulated activities.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-26•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses and the Federation of European Securities Exchanges issued a joint statement on the European Commission’s MISP agenda, backing its single market goals while calling for an effective, efficient and proportionate supervisory model. They recommend that entities under direct European Securities and Markets Authority supervision be overseen solely by ESMA, seek a short transition, and argue that existing crisis management tools under EMIR and the EU recovery and resolution regime are sufficient, opposing additional loss-sharing measures such as a resolution fund for central counterparties.
Policy & regulationReform agendas & prioritiesCCPs
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2026-05-26•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission Chairman outlined an agenda to increase the number of public companies, inviting comments on improving IPO rules and removing barriers to public markets. He highlighted measures including clarification that mandatory arbitration provisions are consistent with federal securities laws, expanded shelf registration and offering flexibilities, and broader relief from certain disclosure requirements. Staff are preparing recommendations to simplify public company disclosure, review Securities Act gun-jumping rules, and reassess direct listing requirements following the Slack decision.
Policy & regulationReform agendas & prioritiesCorporate governance
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2026-05-26•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has expelled four members under board resolutions dated 21 May 2026, citing insolvency in three cases and, in one case, insolvency, non-compliance with the AFCA Constitution and rules, and non-payment of monies owed. AFCA reiterates that membership is mandatory for certain licensed financial firms and that expelled members who remain legally required to belong may seek reinstatement at the Board’s discretion once they have rectified issues and met any additional conditions.
SupervisionAuthorisations & approvalsComplaints and dispute resolution
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2026-05-26•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported that its president, Julio Velarde, received an honorary doctorate from the National University of San Cristóbal de Huamanga in recognition of his career and contribution to Peru’s economic stability. Velarde underscored the need for autonomous central banks to protect monetary policy from political pressure, emphasized price stability as the core objective of monetary policy, and highlighted the Bank’s meritocratic hiring and the importance of education for national development.
Other
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2026-05-26•Global•International Monetary Fund
The IMF concluded its Article IV consultation for Seychelles and completed final reviews under the Extended Fund Facility and Resilience and Sustainability Facility, enabling an immediate disbursement of about USD 41 million and closing the arrangements. The Executive Board assessed performance as strong, with solid growth, low inflation, a primary surplus and declining debt, but noted that the war in the Middle East has worsened the near-term outlook via tourism, energy, food and shipping. Directors backed gradual fiscal consolidation toward the 50 percent of GDP debt anchor, data‑dependent monetary policy with exchange rate flexibility, and stronger financial supervision, crisis preparedness, AML/CFT controls, and oversight of virtual asset service providers.
Policy & regulationPeer reviews and country evaluationsEconomic data and developments
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2026-05-25•Global•COP30
Brazil’s COP30 Presidency outlined initial plans for a NAP Implementation Alliance as a political and technical platform to elevate National Adaptation Plans and accelerate adaptation in developing countries, developed with UNDP and several partners. The initiative aims to improve coordination across the adaptation ecosystem by convening governments, financial institutions, multilateral organizations, the private sector, academia and civil society to address fragmented support, develop bankable project pipelines, and strengthen engagement with multilateral development banks and private finance.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2026-05-25•Global•International Monetary Fund
The International Monetary Fund published the staff concluding statement for its 2026 Article IV mission to Ireland, noting a still-strong economy but slower growth, higher energy-driven inflation, and elevated external uncertainty. Staff recommend a broadly neutral fiscal stance with tighter control of current spending, a broader tax base, and a binding national fiscal rule, alongside stronger oversight of non-banks. They also urge measures to boost housing supply, reinforce energy infrastructure and EU links, and prepare workers for artificial intelligence-related change.
Policy & regulationInternational standards & recommendationsEconomic data and developmentsFinancial stability and systemic risk
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2026-05-25•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has appointed Paul Woodburn as Lead Ombudsman Superannuation for a five-year term commencing 25 May 2026. Woodburn has over 20 years of senior experience in superannuation, funds management and financial services, and succeeds Heather Gray, who has held the role since 2020.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-25•Poland•Central Bank of Poland
The Central Bank of Poland reported that M3 money supply increased by PLN 29.2 billion in April 2026. The rise was mainly driven by higher household deposits and other claims, as well as increased cash in circulation.
Data & statisticsMonetary data
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2026-05-25•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru’s Superintendency of Banking, Insurance and Private Pension Fund Administrators has begun returning deposits at Caja Rural de Ahorro y Crédito Del Centro in liquidation that exceed the PEN 117,200 coverage of the Deposit Insurance Fund. It published a first list of affected customers with savings, time deposits and compensation for time of service accounts, who can verify available funds on the Superintendency’s website and withdraw or transfer them via CMAC Arequipa branches.
SupervisionInterventionsRecovery and resolution
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2026-05-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published 2025 supervisory results for eight credit unions offering Crédito de habilitación o avío, finding only two fully compliant with financial transparency rules and four only partially compliant, despite an average sector score improving from 3.6 to 7.6. The authority highlighted that breaches remain subject to sanctions and identified recurring deficiencies in contract disclosures, account statement delivery and complaint channels, commission registration and disclosure, insurance terms, and how commissions and taxes are presented on account statements.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-25•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission outlined a phased, proportionate transition toward sustainability reporting standards aligned with the International Sustainability Standards Board. It also plans to introduce assurance requirements gradually to strengthen the reliability and comparability of disclosures while accounting for market capacity, reporting costs and data challenges.
Policy & regulationInternational standards & recommendationsDisclosuresESGClimate risk and sustainable finance
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2026-05-25•Seychelles•Ministry of Finance National Planning and Trade (Seychelles)
The Seychelles Ministry of Finance and the Central Bank urged banks to ease access to support for customers affected by uncertainty linked to Middle East tensions, including by being more flexible and simplifying processes, particularly for retail, wholesale and tourism businesses. Banks reported case-by-case support through moratoriums, overdrafts and other credit restructuring for just under 100 customers totalling about SCR 145 million, while the Central Bank monitors the situation and receives weekly updates on support measures.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2026-05-25•Uruguay•Ministry of Economy & Finance (Uruguay)
The Uruguay Ministry of Economy and Finance and the UK Foreign, Commonwealth & Development Office have signed a four-year memorandum of understanding establishing a framework for strategic cooperation on infrastructure, institutional development, the aerospace sector, and artificial intelligence and digital innovation. It provides for exchanges on infrastructure planning, governance and financing, civil space strategies and regulatory frameworks, and AI governance and ethical standards, as well as broader bilateral technology cooperation involving relevant Uruguayan ministries and stakeholders.
Policy & regulationCooperationCross-border cooperation
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2026-05-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority Chairman said the authority is developing a more flexible regulatory environment for the non-bank financial sector, particularly insurance, under the Unified Insurance Law No. 155 of 2024 to support market expansion, digitalisation and broader financial inclusion. He highlighted recent measures including the reorganisation of takaful insurance and new regulatory standards for reinsurance to bolster insurers’ stability, solvency, risk management and product innovation.
Policy & regulationRules & requirementsMarket development
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2026-05-25•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions outlined a more risk-focused, proportional supervisory approach, including a streamlined approvals framework for targeted new entrants and earlier risk identification in coordination with Canada’s security and intelligence community. Its latest Annual Risk Outlook and Quarterly Release prioritise residential mortgage, non-bank financial institution, funding and liquidity, wholesale credit, AI, cyber, integrity and security, and third-party risks, and detail measures such as consolidating expectations in a new Credit Risk Management Guideline and removing redundant guidance. OSFI also reiterated governance expectations for AI and signalled that revisions to the Capital Adequacy Requirements guideline, including more risk-sensitive treatment of certain commercial exposures and lower standardized risk weights for some SME and corporate lending, are expected in September.
SupervisionSupervision approach, priorities & toolkitFinancial stability and systemic riskSupervision process and methodologies
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2026-05-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority oversaw a cooperation protocol between the Financial Services Institute and the Egyptian Federation for Medium, Small and Micro Enterprise Finance to expand training and professional qualifications for non-bank financial sector staff. The framework gives federation members access to the institute’s programmes, enables qualified specialists from member firms to become accredited lecturers, and supports the authority’s capacity-building agenda in governance, risk management, financial technology and digital transformation.
Policy & regulationCooperationCapacity building
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2026-05-25•Canada•Canadian Bankers Association
The Canadian Bankers Association, in testimony to a parliamentary committee’s pre-budget consultations for the 2026 Budget, set out six recommendations on prudential regulation, tax reform, anti-fraud and anti-money-laundering measures, competition, and internal trade barriers. It urged adjustments to the prudential capital framework, a review of the corporate tax system including removal of sector-specific financial sector taxes, support for the National Anti-Fraud Strategy and the planned Financial Crime Agency, and a broad-based ban on fees and delays for investment and registered account transfers, as well as harmonized national frameworks for anti-money-laundering and anti-terrorist financing, privacy, market conduct for payment services providers, and over-the-counter derivatives.
Policy & regulationReform agendas & prioritiesAML and CFTFinancial inclusion
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2026-05-25•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority published a notice convening the ordinary and extraordinary general meetings of Crédit Populaire d'Algérie SPA shareholders for 21 June 2026 at 9:30 a.m. in Algiers.
Other
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2026-05-25•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia has amended its foreign exchange directive to let banks approve certain Letters of Credit and Cash Against Documents transactions for foreign currency account holders without prior central bank approval. It also allows those account holders to initiate shipments under Cash Against Documents without prior bank approval, subject to document checks for payment. Commercial banks must now price Letter of Credit fees on an annualized pro rata basis within the existing National Bank of Ethiopia cap.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2026-05-25•Pakistan•State Bank of Pakistan
The State Bank of Pakistan has directed commercial banks to extend branch hours and ensure uninterrupted digital payment services to facilitate over-the-counter and online payment of government duties and taxes at the request of the Federal Board of Revenue. Banks must keep branches open later on 29 and 30 May 2026, support Special Clearing for Government transactions conducted by NIFT, and maintain continuous access to internet banking, mobile applications, ATMs, and other digital platforms.
Policy & regulationRules & requirementsTaxation
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2026-05-25•Indonesia•OJK
The Indonesia Financial Services Authority reported that its 2024 Regional Economic Development Programme now operates in 40 regencies and cities, targeting inclusive, productive financing in sectors based on local strengths, currently agriculture and the creative economy. The model combines sector mapping, cross-agency collaboration and capacity building, with examples including coffee in South Sumatra, dairy in East Java, staple crops and crab in Central Java, and film and creative content in Jakarta. The authority plans to expand the programme to more regions and sectors, including tourism, to strengthen regional value chains and support national development.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2026-05-25•Greece•Bank of Greece
The Bank of Greece reported that the travel services surplus rose to EUR 409.6 million in March 2026 and EUR 928.4 million in January to March, well above the levels a year earlier. Travel receipts increased by 55.6% in March and 64.3% in the first quarter, driven by higher inbound traveller flows and stronger average spending per trip. Inbound arrivals rose by just over 38% in both periods.
Data & statisticsBalance of payments and other external statistics
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2026-05-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic held a staff training with Crystal Intelligence on practical supervision of virtual assets, including blockchain analytics tools and international approaches to countering illicit activity. The programme aimed to strengthen staff expertise and practical skills for monitoring virtual asset transactions and to build supervisory capacity as digital financial technologies and virtual asset regulation evolve.
Institutional developmentCooperation & capacity buildingFintech and insurtechSupervision process and methodologies
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2026-05-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic announced that its subsidiary Interbank Processing Center has enabled international QR payments via Alipay+ for users of the Elkart payment system. Elkart Mobile app users in Kyrgyzstan can now pay for goods and services abroad by scanning Alipay+ QR codes in more than 60 countries and regions, as part of the central bank’s broader work on digital and cross-border payment infrastructure.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2026-05-25•Global•Egmont Group
The Egmont Group’s 2024–2025 Annual Report highlights network expansion to 182 Financial Intelligence Units, completion of 18 projects, and continued focus on cross-border information exchange, member capability building and cooperation with international AML/CFT partners. FIU heads endorsed making operational independence and autonomy core membership requirements, enhancements to the Egmont Secure Web, and a new funding model for the Egmont Centre of FIU Excellence and Leadership. The report also notes extensive training, memoranda of understanding, and further work on secure web matching, data integration for FIU questionnaires, and implementation of the FIU Autonomy Project and ECOFEL Certification Program.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2026-05-25•Peru•Central Bank of Peru
The Central Bank of Peru reported that non-traditional exports reached USD 5.368 billion in the first quarter of 2026, up 3.3 percent year on year, driven mainly by higher export prices. Non-traditional agricultural exports rose 4.8 percent to USD 2.758 billion and non-traditional fishery exports increased 49.5 percent to USD 583 million in the same period, supported by higher volumes, particularly of jumbo flying squid and key fruits.
Data & statisticsBalance of payments and other external statistics
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2026-05-25•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has opened a new application window for its special regulatory regime, allowing firms to test innovative financial products in a supervised sandbox environment. The initiative, part of the 2024–2026 Financial Sector Development Strategy, supports financial innovation, digital financial services and new technologies, with ongoing pilots in payment services, capital markets and virtual asset-related solutions.
SupervisionInnovation & testingFintech and insurtech
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2026-05-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services has opened registration for the 53rd intake of its free, 150-hour online Financial Education Diploma for individuals aged 17 and over in Mexico and abroad. The three-module programme covers financial education and inclusion, the Mexican financial system, personal finance tools, entrepreneurship, the social and solidarity economy, digital financial services and fraud prevention, requiring only internet access and an email account.
Financial literacy & educationFinancial literacy and education
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2026-05-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published results of its 2025 transparency supervision of eight savings and loan cooperatives offering current account credit, reporting an average score improvement from 3.8 to 9.0 after remediation, with three entities fully compliant and five partially compliant. Supervisors identified breaches in contract terms, insurance disclosures, amortization tables, account statements, and consistency of information across channels, and noted that remediation does not preclude sanctions or other measures.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published results of its 2025 transparency supervision of 12 Savings and Loan Cooperatives offering savings accounts for minors, finding only five fully compliant with financial transparency and information-quality rules. Following compulsory remediation, the average score improved from 4.1 to 7.7, with two cooperatives scoring 10, although identified breaches remain subject to sanctions or other measures.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-05-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published 2025 supervisory results on financial transparency and information quality for refactionary credit at nine savings and loan cooperatives, finding average scores improved from 5.2 to 8.3 after remediation, with five entities scoring 10 and two only partially compliant. Key breaches involved incomplete or unclear contractual and disclosure information, including transaction terms, account statement delivery, total annual cost, interest rates, total amount payable, contract registry numbers, and website and advertising content.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2026-05-25•Brazil•National Treasury (Brazil)
Brazil’s National Treasury and the Ministry of Environment and Climate Change approved BRL 3.1 billion in catalytic public capital in the fourth Eco Invest Brasil auction to support BRL 13.2 billion of investment in bioeconomy, sustainable tourism and infrastructure, with about BRL 9 billion for projects in the Legal Amazon. The blended finance structure requires at least BRL 3 of private capital per BRL 1 of public funding, at least 60% of it from foreign investors, and this round is the first to incorporate pillars of the National Bioeconomy Development Plan.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeMarket development
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2026-05-25•Brazil•National Treasury (Brazil)
Brazil’s National Treasury launched the fifth Eco Invest Brazil auction, creating six Eco Invest Innovation Funds, a corporate credit line and non-repayable resources to finance ecological transformation and industrial development across six strategic supply chains, with up to BRL 2.5 billion in Treasury support and at least double private leverage. Financial institutions will compete by chain based on their capacity to mobilise private capital, while banks will lend directly to scale-up firms that must contract research, development and innovation projects. The Treasury also reported that the fourth Eco Invest auction for the Legal Amazon approved BRL 3.1 billion in catalytic capital, expected to support about BRL 13.2 billion in total investment.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeGreen taxonomy
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2026-05-25•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has warned that Vaughan Credit Union is not incorporated under the Credit Unions and Caisses Populaires Act, 2020 and is not authorized to operate as a credit union in Ontario. FSRA stressed that entities not incorporated under the Act are outside its regulatory oversight, their deposits are not covered by FSRA’s deposit insurance, and urged consumers to verify firms against its list of incorporated credit unions and caisses populaires and contact law enforcement if they suspect fraud.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-05-25•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission has overhauled the reporting regime for major holdings in listed companies by introducing a single notification form, Model 120 (TR-1), and a fully digital submission via the SH.I.N.E portal. Model 120 (TR-1) replaces multiple existing forms, aligns with the European Securities and Markets Authority standard and the European Single Access Point framework, and is intended to streamline filings and improve the presentation of issuers’ ownership structures.
Policy & regulationRules & requirementsRegulatory reporting
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2026-05-25•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico’s Ministry of Finance and Public Credit, through the Financial Intelligence Unit and in coordination with the Mexican Banking Association, issued a guide for financial sector obliged entities on monitoring customer transaction profiles in extortion cases. The guide aims to strengthen detection and mitigation of money laundering risks by providing red flags, analytical indicators, monitoring recommendations, risk assessment guidance and mitigating measures, drawing on observed patterns such as recurring electronic transfers and rapid fund movements via mobile applications.
Policy & regulationGuidance & interpretationAML and CFT
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2026-05-25•India•Reserve Bank of India
The Reserve Bank of India has amended its Rural Co-operative Banks Governance Directions, 2025 to require a minimum three-year cooling-off period before a director who has completed 10 years of continuous tenure on a State Co-operative Bank or Central Co-operative Bank board can be reappointed to that board. During the cooling-off period, the individual may only be a member or customer of that bank, and tenure calculations will treat interruptions of less than three years as continuous service.
Policy & regulationRules & requirementsCorporate governance
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2026-05-25•India•Reserve Bank of India
The Reserve Bank of India has amended its Urban Co-operative Banks Governance Directions, 2025 to require a minimum three-year cooling-off period for any director of a primary urban co-operative bank who completes ten years of continuous service on the same board before reappointment. During the cooling-off period, the individual may only be a member or customer of that bank, with breaks of less than three years treated as continuous service. The change aims to prevent circumvention of the statutory tenure limit and follows the Banking Laws (Amendment) Act, 2025, which raised the maximum continuous tenure for such directors from eight to ten years.
Policy & regulationRules & requirementsCorporate governance