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2026-05-20•Global•International Monetary Fund
The International Monetary Fund concluded a staff visit to Pakistan after discussions on economic developments, reform implementation, and the fiscal year 2027 budget strategy. Authorities reaffirmed a primary surplus target of 2 percent of GDP and plans for gradual fiscal consolidation through broader taxation, stronger tax administration, more efficient spending, and improved public financial management. The State Bank of Pakistan reiterated its commitment to tight monetary policy and exchange rate flexibility. The mission also reviewed reforms in the energy sector, state-owned enterprises, product markets, the financial sector, and progress under the Resilience and Sustainability Facility.
Policy & regulationPeer reviews and country evaluationsOther
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board published a research note finding that slower population and trend labor force growth, which have pushed breakeven monthly employment growth near zero, do not systematically make labor markets more sensitive to recessions. Evidence from U.S. states and OECD economies shows no clear link between low population growth and higher unemployment volatility or deeper downturns, though the note stresses these results are descriptive and that factors such as the source and speed of population changes may still matter.
ResearchEconomic data and developments
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2026-05-20•St. Vincent & the Grenadines•St. Vincent & the Grenadines Financial Services Authority
The St. Vincent and the Grenadines Financial Services Authority has warned that Nova-Dox LLC is not registered, licensed, or authorised to conduct virtual asset business in or from St. Vincent and the Grenadines. The authority noted that Nova-Dox LLC was cancelled on 31 December 2023, has no legal status in the jurisdiction, is not registered under the Virtual Asset Business Act, No. 9 of 2022, and that any claims of authorisation in St. Vincent and the Grenadines are false and misleading.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-05-20•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank Executive Board member Olaf Sleijpen urged the Dutch government to improve conditions for entrepreneurship to safeguard the Netherlands’ long-term earning capacity. He highlighted domestic bottlenecks including the nitrogen crisis, electricity grid constraints, housing shortages, labour market pressures and weak productivity, alongside external risks such as trade conflicts, instability, war and climate change, and said a substantial policy agenda remains despite cabinet plans.
Other
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Financial Services Users published results of its 2025 supervision of five Sociedades Financieras Populares on transparency and information quality for minors’ savings accounts, finding two fully compliant institutions and one partially compliant after remediation, with the average score rising from 4.8 to 7.9. The review identified deficiencies in contracts, websites, account statements and advertising, including missing required terms, unregistered commissions and incomplete disclosure of Protection Fund coverage, and stressed that remediation does not exempt institutions from sanctions or other measures.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published results of its 2025 transparency supervision of four Popular Financial Societies offering Current Account Credit, finding only two achieved partial compliance despite average scores improving from 2.1 to 7.1. The review identified deficiencies in contracts, account statements, cover sheets and websites, including missing key product terms, incomplete disclosure of amounts due, and inconsistencies with the Registry of Commissions, and noted that remediation does not preclude sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protectionDisclosures
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published its 2025 financial transparency review of five Popular Financial Societies (SOFIPOs) offering Crédito Refaccionario loans, finding all only partially compliant after a two-stage supervisory process. Average scores improved from 4.3 to 8.0, but CONDUSEF identified persistent deficiencies in contracts, disclosure of Total Annual Cost (CAT), amortization tables, account statements, websites and advertising, which may result in sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protectionDisclosures
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board requested comment on a proposal to create a new payment account that legally eligible financial institutions could use solely to clear and settle payments through Federal Reserve payment services, without intraday credit, discount window access or interest on balances. The proposal refines a December 2025 prototype by linking closing balance limits to expected payment activity, raising the maximum closing balance, and encouraging Reserve Banks to temporarily pause access decisions for Tier 3 institutions.
Policy & regulationRules & requirementsCBDC
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2026-05-20•United States•National Futures Association
The National Futures Association has imposed an emergency Member and Associate Responsibility Action on Vespula Capital Management LLC and its principal Joel Kirkham Johnson after finding reason to believe approximately USD 2 million of VCM Strategic Opportunity Fund LP assets were dissipated through transfers to related entities. The action, which does not suspend or expel the firm or Johnson, bars new solicitations, restricts fund disbursements and transfers without prior NFA approval, and limits trading to liquidations until NFA completes its review.
EnforcementInvestigations & enforcement actionsOperational risk and resilience
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2026-05-20•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission, together with the Bank of Thailand and the Office of Insurance Commission, has launched the third class of the Responsible Voices for Finfluencers Project to promote responsible finance, investment and insurance content on social media. The class provides training on compliant financial communications, case studies of potentially non-compliant posts, and engagement with social media platforms, with 28 pages or channels representing 35 individuals selected from 60 applicants.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2026-05-20•Brazil•Central Bank of Brazil
The Central Bank of Brazil has expanded the coverage of its Regional Economic Activity Index (IBCR) to four additional states, bringing the total to 17 states plus the five Brazilian regions. The expansion follows improved state-level primary data availability, enabling broader monitoring of regional economic conditions. The central bank will also release its annual Regional Bulletin for 2025 in May, including a section on the new states and a methodological revision.
Data & statisticsEconomic data and developments
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2026-05-20•Israel•Bank of Israel
The Bank of Israel reported a 0.2 percent decline in its monthly Index of Economic Activity in April, indicating growth below the long-term trend of about 0.3 percent. The fall mainly reflected weaker domestic demand and labour market indicators, partly offset by stronger goods exports, imports and financial market data. The Bank also revised the index down for the previous three months following new data and a further downward revision to fourth quarter 2025 growth.
Data & statisticsEconomic data and developments
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2026-05-20•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission revoked Mount Peak Securities’ broker-dealer registration and imposed PHP 17.25 million in penalties for 12 regulatory violations, including misuse of client accounts, false records and capital breaches. Two company officers also lost their licenses and were permanently disqualified from registration. Mount Peak has appealed the decision to the Commission En Banc.
EnforcementInvestigations & enforcement actionsComplianceCapital adequacyConsumer and investor protection
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2026-05-20•Nigeria•Central Bank of Nigeria
Central Bank of Nigeria’s Monetary Policy Committee on 20 May kept the Monetary Policy Rate at 26.5 %, leaving the ±50/–450 bp corridor and cash-reserve ratios unchanged, after a cumulative 100 bp cut since September 2025. It said April’s food-driven uptick in headline inflation to 15.69 % is temporary and that robust reserves and prior reforms support a cautious, data-dependent path to renewed disinflation.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Ghana•Bank of Ghana
Bank of Ghana kept its policy rate unchanged at 14.0 % on 20 May 2026, judging inflation-growth risks as balanced after 750 bp of cuts since September 2025 amid headline inflation of 3.4 % in April and solid activity. The central bank will replace the dynamic cash reserve ratio with a uniform 20 % requirement for domestic-currency deposits from 4 June 2026 to bolster liquidity management.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•United States•The White House
The White House announced new sanctions on Cuba’s military and intelligence apparatus and on those providing it with material and financial support, as part of a broader effort to cut off financial lifelines to regimes in Central and South America that it says fund transnational criminal and terrorist operations. The sanctions aim to deprive the Cuban regime and its elites of resources and profits, and reiterated that the United States will not tolerate Cuba hosting hostile foreign military, intelligence, and terror operations near US territory.
EnforcementSanctions & designationsOther
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2026-05-20•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela held a working meeting with the Caracas Stock Exchange and the National Chamber of Securities Market Intermediaries to discuss joint measures to strengthen the domestic capital market, with a focus on supporting productive activities. The central bank also reported ongoing engagement with executives from public and private banks.
Policy & regulationCooperationMarket developmentDomestic cooperation
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2026-05-20•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission reported that exchange-traded fund assets have tripled since 2019 and continue to drive securities market innovation. After fund sponsors agreed to delay the effectiveness of several novel ETFs, including event contract ETFs, SEC staff has been instructed to seek public input on how the Commission should respond to recent market changes.
Policy & regulationOtherMarket development
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2026-05-20•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority installed new commission members for four-year terms and renewed two existing mandates. The commission comprises a president and six members and is responsible for reviewing cases and taking decisions under the applicable legal and regulatory framework.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board published a speech by Governor Michael S. Barr urging that financial inclusion be assessed by customer outcomes rather than access, and highlighting banks’ growing use of transaction data, behavioral science and artificial intelligence to measure and improve financial health. He cited Federal Reserve survey evidence of persistent financial vulnerability despite high account ownership, and noted both the benefits of financial health metrics and challenges around standardization, data privacy and methodological rigor.
Policy & regulationGuidance & interpretationFinancial inclusionFinancial literacy and education
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2026-05-20•Global•Financial Markets Standards Board
The Financial Markets Standards Board has issued a final Statement of Good Practice on Grey Market Trading, providing a framework for assessing when conditional trading of securities before they are free to trade is appropriate. The guidance sets out four good practice statements covering issuer awareness, management of conflicts of interest and information asymmetries, control frameworks for syndicate banks, and public announcements by active bookrunners when new issuances become free to trade.
Policy & regulationGuidance & interpretationTrading
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2026-05-20•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported that March 2026 terms of trade rose 32.4 percent year-on-year, as export prices increased 38.7 percent and import prices 4.8 percent. Export price gains were led by gold, copper and fishmeal, while higher petroleum and petroleum product prices lifted import prices. On a monthly basis, terms of trade fell 2.4 percent, mainly due to higher oil prices.
Data & statisticsBalance of payments and other external statistics
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2026-05-20•Global•Egmont Group
The Egmont Group reported on its participation in the No Money for Terror Conference in Paris, where discussions focused on evolving terrorist financing risks, links to organised crime and the need for secure, timely cooperation between Financial Intelligence Units. It highlighted a Tracfin-led session to strengthen public-private partnerships and reiterated the central role of Financial Intelligence Units in detecting suspicious patterns, tracing illicit flows and identifying cross-border connections through secure information exchange, supported by Egmont’s information sharing and capacity building.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2026-05-20•Europe•European Systemic Risk Board
The European Systemic Risk Board has launched a call for expressions of interest from international macroprudential and systemic risk experts to join its Advisory Scientific Committee for renewable four-year mandates starting by May 2027. Appointments by the General Board will be based on candidates’ competence and experience across academia and other sectors, with employees of institutions represented on the General Board ineligible and non-selected candidates placed on a two-year reserve list.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2026-05-20•Canada•Payments Canada
Payments Canada has appointed Deana Djurdjevic as Chief of Staff, effective 25 May 2026, to act as strategic adviser to the President and CEO and the executive leadership team and to help translate complex initiatives into actionable outcomes for the organisation’s long-term agenda. She brings over 25 years of financial services and regulatory leadership experience, including senior roles at the Ontario Securities Commission, TMX Group and the Financial Services Regulatory Authority.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-20•Global•Ceres
Ceres’ 2026 Progress Report on climate risk reporting in the U.S. insurance sector finds broader participation in standardized climate reporting has not produced decision-useful disclosure, with only 10.5% of 77 assessed Task Force on Climate-related Financial Disclosures datapoints fully met despite 83.2% of insurers addressing all four pillars. The review highlights persistent gaps in Metrics and Targets, including 81.9% of datapoints rated not found and 91% of carriers not disclosing indirect emissions, while Risk Management remains the strongest pillar and only six carriers fully met at least half the datapoints.
ResearchClimate risk and sustainable financeESG
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2026-05-20•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is expanding cooperation with universities and institutes to link academic study with practical application and raise youth awareness of the non bank financial sector as part of its financial literacy work. It plans to broaden youth-focused events, field visits and workshops across governorates and reported strong student interest in its fintech regulatory sandbox for testing digital financial solutions.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Global•Bank for International Settlements
The Basel Committee on Banking Supervision will publish a report on observed ICT risk management practices for non-malicious incidents and advanced its review of the prudential standard for banks’ cryptoasset exposures. It will also assess whether to update its Principles for Sound Liquidity Risk Management and Supervision, finalise machine-readable Pillar 3 disclosures, consult on the treatment of cross-border exposures within the European banking union in the global systemically important bank framework, and deepen analytical work on banks’ management of physical risks from extreme weather events and the role of insurance.
Policy & regulationInternational standards & recommendationsCyber resiliencePrudential risks
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2026-05-20•Albania•Bank of Albania
The Bank of Albania reported that the Resolution Fund rose by ALL 1.18 billion in April 2026 to ALL 8.22 billion following the annual bank contributions, marking the ninth year of funding since its establishment in 2018. The fund is required under Albania’s bank recovery and resolution law to reach ALL 9.4 billion, or 0.5% of banking system liabilities, by 2027 and is managed by the Deposit Insurance Agency under a Bank of Albania-approved asset management policy.
Policy & regulationImplementation, projects & pilots
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2026-05-20•Panama•Panama Superintendencia del Mercado de Valores
The Panama Superintendency of the Securities Market issued Resolution SMV-202-26 appointing a new liquidator for PLUS CAPITAL MARKET INC. The appointment is made under the consolidated text of Decree Law No. 1 of 8 July 1999.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 bank cash desk statistics showing that cash disbursements exceeded cash receipts by MDL 776 million, with receipts of MDL 15,261 million and disbursements of MDL 16,037 million. Receipts from sales of consumer goods were the main inflow at MDL 9,344 million, or 61.2 percent of total receipts, and the figures include transactions in commemorative coins.
Data & statisticsCurrency and cash management
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova’s April 2026 monetary statistics show the monetary base rose 0.4 percent month-on-month to MDL 83,752 million, while broad money M3 declined 0.4 percent to MDL 195,428 million. Outstanding bank deposits fell 1.1 percent to MDL 143,309 million, driven by a 6.3 percent drop in foreign currency deposits partly offset by a 1.6 percent increase in national currency deposits, while claims on the economy rose 1.3 percent to MDL 111,981 million, with national currency claims up 2.0 percent and foreign currency claims down 1.0 percent.
Data & statisticsMonetary data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 lending statistics showing banks extended MDL 7.299 billion in new loans, with 65.1 percent to businesses and 34.9 percent to individuals, mostly denominated in MDL for individuals. The data, including tables on loan volumes and nominal interest rates, are based on banks’ reporting under Instruction No. 331/2016, with minor rounding differences in aggregated figures.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 banking data showing new deposits of MDL 25,792 million, with businesses accounting for 68.1% and individuals 31.9%, confirming corporate deposits as the main funding source. The data indicate that term deposits in Moldovan leu represented 69.7% of total term deposits, and include detailed volumes and nominal interest rates by sector and currency based on banks’ interest rate reporting.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova reported that Governor Anca Dragu awarded certificates to participants in the Modern Finance School programme, which it runs with the National Bank of Romania and the Bucharest University of Economic Studies. The initiative trains economics and journalism students to deliver financial education in rural communities and produce explanatory economic journalism, and has operated since 2023.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Canada•Canadian Securities Administrators
The Canadian Securities Administrators will livestream a Toronto tokenization workshop, “Powering Growth and Competitiveness,” as part of Project Tokenization to gather input on tokenization in capital markets, including use cases, legal issues, friction with current securities laws and potential areas for regulatory guidance. The project will use stakeholder engagement and targeted research to assess opportunities and risks, with possible subsequent phases including a discussion paper or live testing of tokenized financial instruments within the CSA Collaboratory.
Policy & regulationImplementation, projects & pilotsTokenization
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2026-05-20•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the Senate has passed a bipartisan housing bill intended to address unaffordable housing costs. Chairman Tim Scott and Ranking Member Elizabeth Warren said they will continue working with the White House and the House on housing legislation that can pass the Senate and reach the President.
Policy & regulationRules & requirementsOther
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority has approved Alkhabeer Capital’s request to delist the Al-Khabeer Growth and Income Traded Fund, subject to unitholder approval. The fund manager will publish the delisting timetable, after which trading in the fund’s units will be suspended and the units removed from the Saudi Exchange if unitholders agree. The authority clarified that its approval only confirms compliance with the Capital Market Law and Implementing Regulations and does not constitute an investment recommendation.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-20•Iceland•Ministry of Finance and Economic Affairs (Iceland)
Iceland's Ministry of Finance and Economic Affairs launched tripartite talks with the Icelandic Confederation of Labour and the Confederation of Icelandic Enterprise to preserve assumptions underpinning collective agreements in the general labour market in autumn 2026 and curb inflation. A steering group and three subgroups will analyse the impact of interest rates, inflation, indexation and automatic price changes on social groups, strengthen wage statistics, and assess potential effects of the war in the Persian Gulf on domestic prices, with interim findings presented to the National Economic Council.
Policy & regulationCooperation
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2026-05-20•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury’s Office of Foreign Assets Control designated more than a dozen individuals and entities in two networks linked to the Sinaloa Cartel’s fentanyl trafficking, targeting bulk cash-to-cryptocurrency conversion, drug trafficking, and related money laundering. The designations, under Executive Orders 14059 and 13224, block all U.S. property and interests in property of listed persons, prohibit U.S. persons from dealing with them, and extend to entities they own 50 percent or more. Treasury also warned that foreign financial institutions that knowingly facilitate significant transactions for persons designated under Executive Order 13224 may face restrictions on U.S. correspondent or payable-through accounts.
EnforcementSanctions & designationsNew sanctions designations
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2026-05-20•India•Reserve Bank of India
The Reserve Bank of India has issued revised draft amendment directions for a second public consultation on loan recovery practices and the use of recovery agents by banks and non-bank lenders. The drafts update responsible business conduct requirements for a wide range of regulated entities and reflect changes to key provisions of the February 12, 2026 draft, including on the use of technology-based mechanisms to restrict functions of financed mobile devices in default.
Policy & regulationRules & requirementsLending
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2026-05-20•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on bank–FinTech partnerships, with Chairman Bryan Steil highlighting these arrangements as drivers of innovation, consumer choice, and access to financial services. Steil emphasized pairing FinTechs’ technological capabilities with banks’ compliance and consumer protections, and argued regulators should not constrain innovation solely because products or technologies are new.
Policy & regulationReform agendas & prioritiesFintech and insurtech
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2026-05-20•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Royal Canadian Mounted Police Federal Policing Central Region has charged eight individuals in a cyber-enabled fraud targeting the Canada Emergency Response Benefit program, involving stolen identities, unauthorized access to taxpayer accounts and redirected payments totaling about CAD 364,000. The case stems from a joint investigation into an attack on the Canada Revenue Agency online portal, with charges including fraud over CAD 5,000 and possession of identity information with intent to commit an indictable offence, supported by the Financial Transactions and Reports Analysis Centre of Canada and the Canada Revenue Agency.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-20•United Kingdom•HM Treasury
HM Treasury has introduced a Financial Services and Markets Bill to reshape UK financial services regulation by strengthening consumer protections, expanding access to credit unions and reducing regulatory overlap. The bill would modernise redress, simplify terms and conditions, reform the Financial Ombudsman Service, widen credit union membership, transfer Payment Systems Regulator responsibilities to the FCA and cut Senior Managers and Certification Regime administrative burdens by 50 percent. It would also update the ring-fencing framework to support lending and investment and, subject to review, give the Government power to protect face-to-face banking where communities rely on it.
Policy & regulationRules & requirementsRegulatory burdenConsumer and investor protection
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2026-05-20•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority fined Pictet Overseas Inc. USD 610,000 and Blue Ocean ATS USD 550,000 for AML and supervisory failures in low-priced securities trading. FINRA found both firms lacked controls reasonably designed to detect and report suspicious activity, and ordered Blue Ocean to certify that it remediated its AML deficiencies. Pictet's case also included failures involving foreign financial institution account due diligence, trade reporting, trade confirmations and Securities Act supervision.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-20•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance reported on the Egmont Group Committee meeting in Kraków, where Finance and Economy Minister Andrzej Domański urged faster international cooperation and information exchange between Financial Intelligence Units to combat financial crime, including risks from new technologies, rapid cross-border transfers and virtual assets. Discussions focused on strengthening FIU cooperation and analytical capabilities, leveraging new technologies and improving the effectiveness of the global anti-money laundering and countering the financing of terrorism system, with Poland highlighting its FIU’s longstanding role and current chairmanship in the Egmont Group.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2026-05-20•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance announced that the Council of Ministers has adopted a draft bill to change how fees payable to the Polish Financial Supervision Authority are collected and allocated, requiring payment at the time of application rather than after proceedings conclude. The reform seeks to shorten case handling, improve application quality, reduce unpaid fees, and reallocates certain supervisory costs in acquisition and risk management proceedings to initiating entities instead of the wider financial sector.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-20•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Office of Pension Normalization and the Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru have approved governance guidelines for the Secure and Transparent Affiliation Platform (PAST), a single virtual platform to centralize processes for choosing, joining and switching between the National Pension System and the Private Pension System. The guidelines establish a co-governance framework under which both authorities jointly set PAST’s strategic direction and oversee its development and monitoring, with a focus on neutrality, secure identity validation, data protection, interoperability and traceability of user decisions.
Policy & regulationGuidance & interpretationOther
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2026-05-20•Germany•BaFin
The Federal Financial Supervisory Authority (BaFin) has published a document containing the German Banking Industry’s statement in response to Consultation 04/2026.
Policy & regulationOther
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2026-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority clarified that, in their current domestic form and use, stablecoins are not classified as “virtual assets” under the Virtual Asset Service Providers Act and therefore fall outside its licensing scope. The Authority noted that most observed stablecoins function as digital representations of fiat value rather than speculative virtual assets, but warned that activities such as exchange, broking, custody or investment advice involving stablecoins may still require a VASP licence and highlighted related counterparty, reserve, redemption, foreign regulatory, cybersecurity and operational risks.
Policy & regulationGuidance & interpretationStablecoins
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2026-05-20•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles has launched a public expression of interest to create a pool of potential Non-Executive Board Directors for future appointments, marking the first use of its Non-Executive Director Recruitment Policy. The list will support timely filling of vacancies, including two current Non-Executive Director seats, with candidates required to hold an advanced degree in specified fields, have at least eight years of professional experience including five in senior leadership, and meet eligibility criteria under the Central Bank Act.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2026-05-20•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published its 2025 transparency supervision results for three Popular Financial Companies (SOFIPOs) offering revolving credit linked to a credit card, finding only partial compliance despite an average score improvement from 4.0 to 8.2. CONDUSEF identified breaches including unregistered commissions, non-prominent interest rates, missing or incomplete Total Annual Cost (CAT), minimum payment and statement information, and inconsistent disclosures in contracts, receipts, websites and advertising, and noted that remediation does not exempt the firms from sanctions.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-20•Global•International Monetary Fund
The International Monetary Fund has published a staff report on Zimbabwe’s request for a Staff Monitored Program, noting that recent macroeconomic stabilization has created a window to consolidate progress and advance reforms. The report highlights that Zimbabwe has been in debt default and largely excluded from international capital markets for over 25 years, and reviews improvements in inflation, growth and the current account alongside ongoing challenges in arrears, currency and foreign exchange markets, external debt, fiscal risks, public financial management and financial markets.
ResearchOther
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2026-05-20•Global•International Monetary Fund
The International Monetary Fund reached a staff-level agreement with Moldova on a new 36‑month Policy Coordination Instrument, a non-financing arrangement to support macroeconomic stability, stronger policy frameworks and structural reforms linked to EU accession. The program responds to a renewed energy shock that is slowing growth and raising inflation, and targets a fiscal deficit of 3.5 percent of GDP by 2029 through tax and public finance reforms, plus measures to strengthen macroprudential policy, financial sector oversight, financial integrity and economic statistics. The agreement is subject to IMF Executive Board approval.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-20•Italy•Bank of Italy
The Bank of Italy has simplified its framework for remunerating excess reserves in line with the European Central Bank Governing Council’s December 2025 decision. From 17 June 2026, excess reserves held by monetary policy counterparties with access to the deposit facility, above minimum reserve requirements, will be remunerated at the deposit facility rate.
Policy & regulationRules & requirements
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2026-05-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted new reporting rules for investment firms, amended disclosure procedures for managers’ transactions, advanced draft changes to issuer and guarantor disclosure, and approved a reorganization that terminates the State Institution Agency for Development of Stock Market Infrastructure of Ukraine and revises its 2026 structure and staffing. It also updated the list of sanctioned client and depositor assets at Freedom Finance Ukraine LLC, registered multiple share and bond issues, confirmed several entities’ compliance with Cabinet of Ministers Resolution No 76, and approved senior appointments at professional market participants.
Policy & regulationRules & requirementsMandate change
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2026-05-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market met World Bank representatives to review key capital market reform initiatives. Discussions focused on Ukraine’s accession to the International Organization of Securities Commissions, draft legislation on securitisation and investment funds, and reform of the funded pension system, including current progress, challenges and next steps.
Policy & regulationCooperationCross-border cooperation
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2026-05-20•Russia•Central Bank of Russia
The Central Bank of Russia has issued a consultation paper proposing tougher credit concentration rules, including revising the N6 and N21 ratios from 1 January 2028 by applying a 100% risk weight to all corporate borrowers and using effective concentration ratios instead of introducing a new N30 ratio. The measures, which will apply to all banks, aim to prevent concentrated lending from shifting to smaller institutions, allow gradual reduction of elevated concentrations, introduce a new contribution to the compulsory deposit insurance fund for groups of related borrowers above 25% of capital, and permit the use of credit default swaps and credit digital financial assets to redistribute exposures.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2026-05-20•Russia•Central Bank of Russia
The Central Bank of Russia reported that its spring Coin Week in April 2026 returned 55 million coins to circulation, with a total value of nearly RUB 252 million, RUB 7 million more than in the previous autumn campaign. Coins were exchanged at banks, stores and certain suburban railway ticket offices, with ruble coins accounting for 86.7% of the total and kopeck coins 13.3%.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-05-20•Ukraine•National Bank of Ukraine
The National Bank of Ukraine published a recap of its sixth annual online workshop on monetary policy in emerging markets, highlighting how financial system structures and behaviour shape monetary transmission under extreme uncertainty. The workshop stressed the need to prioritise long term price and macrofinancial stability, strengthen crisis communication, and improve diagnostics of transmission across sectors and regions, including by better integrating the financial sector into analytical models. The NBU linked these themes to its 2023 interest rate operational changes and lending support measures, which it said have strengthened transmission, contained inflation and supported lending growth for a third consecutive year.
ResearchMonetary policy decisions and developments
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2026-05-20•United Kingdom•The Pensions Regulator
The Pensions Regulator has published an artificial intelligence plan setting expectations for how pension trustees and scheme managers should govern AI use, emphasising that accountability for outcomes remains with them even where activities are delegated or AI-supported. Pending fuller guidance, schemes should establish clear AI governance, test and monitor systems, review risks and controls, strengthen data and data protection, and protect members from AI-enabled fraud, while TPR aligns with the Financial Conduct Authority and expands its own AI use.
Policy & regulationGuidance & interpretationArtificial intelligenceConsumer and investor protection
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2026-05-20•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has proposed rules requiring firms that report credit data under Riksbank regulations to submit additional credit information to Statistics Sweden for inclusion in the shared financial market monitoring database. The authority aims to simplify reporting, achieve efficiency gains, and improve the analytical and supervisory basis.
Policy & regulationRules & requirementsRegulatory reporting
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2026-05-20•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority has issued a new Ordinance on the Risk Diversification of Banks and Securities Firms, elevating existing circulars on intra-group positions and risk diversification into binding ordinance form with limited changes. The ordinance sets rules on connected counterparties, foreign group exposures, trading book position calculations and small-bank reliefs, and introduces transitional arrangements for Basel III market risk approaches, extended weighting relief for category 4 and 5 banks, and clarifications on central counterparties, foreign group guarantees and residential property financing.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-20•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority ordered Pictet Overseas Inc. to pay USD 610,000 and Blue Ocean ATS USD 550,000, totaling USD 1.16 million, for anti-money laundering and supervisory failures involving low-priced securities. FINRA found both firms lacked AML programs reasonably designed to detect and report suspicious activity, citing Pictet’s ineffective monitoring of substantial low-priced securities trading and deficient supervision, and Blue Ocean’s manual surveillance that failed to address spoofing, layering or other manipulative patterns.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of Tajikistan reported a meeting with the Swiss State Secretariat for Economic Affairs on financial sector development and continued technical cooperation, including financial inclusion, digital services, banking supervision and structural reforms. Joint projects with Switzerland have strengthened financial infrastructure, supported the National Financial Inclusion Strategy 2022-2026 and expanded digital and non-cash payments, while Tajikistan’s economy and banking system remain stable with growing use of electronic payment instruments.
Policy & regulationCooperationDomestic cooperation
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2026-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan published results of its 20 May 2026 foreign exchange intervention purchase auction, which attracted eight participants. The auction satisfied bids between USD 600,000 and USD 5.755 million at a weighted average rate of 9.3191 USD/TJS.
Monetary policyMonetary policy instruments & operationsOther
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2026-05-20•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency announced the winners of its “Be the Hero of Your Story – Don’t Fall for Fraud!” competition for primary school students, aimed at raising awareness of financial fraud risks and online scams. Hanfa received 28 entries and assessed them on creativity, innovation and how effectively they addressed financial fraud and protection of personal financial assets, with the award ceremony part of its broader financial literacy and digital safety programme.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Capital Markets Authority has referred 17 suspects linked to Cenomi Retail, including former and current board members and senior finance staff, to the Public Prosecution, which filed a penal case before the Committee for Resolution of Securities Disputes for suspected breaches of the Capital Market Law, Market Conduct Regulations and Companies Law. A forensic inspection indicated suspected creation of a false and misleading impression of the company’s security value and misuse of company funds and delegated authority for personal benefit. The committee will publish violators’ identities once decisions are final, and harmed investors may seek compensation after filing a complaint.
EnforcementInvestigations & enforcement actionsAuditingCorporate governance
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority announced that Sukuk Capital Company has completed the commencement of business requirements to conduct custody activity in the securities business. The custody activity operates under a licence approved on 6 November 2025.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-20•Spain•Bank of Spain
The Bank of Spain will host a high-level international meeting in Madrid on 21–22 May on water and financial stability, with the OECD, the Network for Greening the Financial System and CDP. As part of the OECD Roundtable on Financing Water, it will examine how water-related shocks affect the financial system, including supply chain vulnerabilities, supervisory responses, fiscal and sovereign risk, insurance protection gaps and the pricing of water risks in transition pathways, with sessions livestreamed.
Policy & regulationCooperationClimate risk and sustainable financeFinancial stability and systemic risk
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2026-05-20•Serbia•National Bank of Serbia
The National Bank of Serbia reviewed global financial markets for 11–15 May 2026, highlighting a stronger United States dollar, higher United States and German government bond yields, and diverging commodity prices as gold fell and Brent oil rose. The report attributes these moves to uncertainty over the Middle East conflict and stronger-than-expected United States inflation data, and notes that the National Bank of Romania kept its policy rate at 6.50% amid elevated inflation and weak first quarter GDP in emerging European economies.
OtherFinancial and market indicatorsForeign exchange policy and markets
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2026-05-20•Comoros•Central Bank of Comoros
The Central Bank of Comoros and the Ministry of Finance have launched a Treasury bill market and published a quarterly issuance calendar. The new market is intended to broaden government funding sources and support more modern public debt management. The central bank will manage the market infrastructure.
Policy & regulationImplementation, projects & pilotsMarket development
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2026-05-20•Global•Bank for International Settlements
The Bank for International Settlements has published a working paper on how private sector agents learn a new asymmetric average inflation targeting strategy at the effective lower bound. Learning is concentrated around liftoff, can be delayed or halted by recessionary or large inflationary shocks, and even partial learning shortens effective lower bound episodes and improves macroeconomic outcomes relative to the old regime. Using the post-Covid United States as an illustration, the authors infer large monetary policy shocks that kept rates below the new rule’s prescriptions and shaped the learning process.
Research
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2026-05-20•Finland•Bank of Finland
The Bank of Finland’s annual assessment finds Finland’s financial system remains stable despite market shocks from international conflicts and a prolonged housing market downturn linked to higher interest rates. It highlights risks from a weaker economic outlook, rising cyber and hybrid threats, and warns that forthcoming looser rules for mortgages and housing company loans could increase housing market vulnerability. The assessment calls for deeper European capital markets, a common European deposit insurance scheme and less reliance on non-European ICT providers.
Research
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2026-05-20•Portugal•Portuguese Insurance Regulator (ASF)
At Seguros Summit 2026, the President of the Portuguese Insurance Regulator stated that longevity is a major challenge and opportunity for the insurance sector, requiring insurers to rethink their role and adapt products and services to an ageing population. He said the regulator aims to create regulatory conditions that enable market responses to longevity-related needs while ensuring developments remain safe, fair and sustainable.
Policy & regulationReform agendas & prioritiesOther
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2026-05-20•Norway•Norwegian Finanstilsynet
The Norwegian Finanstilsynet will require insurance undertakings’ Solvency II quantitative reporting and EIOPA reporting for the 25 largest pension funds for the 30 June 2026 reference date to be submitted via its new e-Reg reporting solution, with testing already available. Solvency II reports must use EIOPA taxonomy version 2.8.2 in XBRL and pension fund reports taxonomy version 2.9.0 in XBRL, and e-Reg will require prescribed file naming. During 2026, the Altinn Preparer/Submitter role will be discontinued and replaced by access packages.
SupervisionRegulatory reporting
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2026-05-20•Ghana•Ministry of Finance (Ghana)
The Ministry of Finance (Ghana) has established an inter-agency Technical Working Group to develop a national framework for managing unclaimed funds and other dormant assets across banking, pensions, insurance, securities and e-money services. The group will replace current estimates with verified sectoral data, address divergent dormancy and reporting practices, and extend coverage to assets including lottery and gaming winnings, court-awarded funds, intestacy-related property, public sector salary arrears and real estate.
Policy & regulationCooperationOther
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2026-05-20•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro reported that a mission by experts from Germany’s Federal Financial Supervisory Authority under the Twinning project has strengthened its risk-based insurance supervision in line with the Solvency II framework. The work focused on assessing insurers’ risk exposures, risk management quality and capital adequacy as part of broader efforts to modernize the regulatory framework and align supervision with European standards.
SupervisionCooperationSupervision process and methodologies
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2026-05-20•Albania•Bank of Albania
In a keynote address, Bank of Albania Deputy Governor Ahmetaj outlined a vision of sustainable, client‑centric microfinance focused on financing micro and small enterprises, backed by caps on effective interest rates and penalties, stronger risk management and transparency, more selective licensing, and supervisory action against weak entities. He warned that excessive consumer credit heightens over‑indebtedness and reputational risks, and stressed that digital financial services must rely on robust data, sound credit assessment, qualified staff and ongoing supervision. The Bank is considering legislation to clearly separate non‑bank lending from non‑performing loan management to reduce conflicts of interest and improve transparency.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2026-05-20•Macao•Monetary Authority of Macao
The Monetary Authority of Macao held a promotion session in Xiamen on the advantages and development opportunities of Macao’s investment fund sector, concluding a mainland China roadshow linked to the implementation of Macao’s Investment Funds Law and related tax incentives. The initiative targets attracting qualified investment fund management companies to establish operations in Macao, with the authority stating it will continue promotional efforts through various channels.
Policy & regulationImplementation, projects & pilotsMarket development
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2026-05-20•Iceland•Central Bank of Iceland
Central Bank of Iceland’s Monetary Policy Committee lifted the seven-day term deposit rate by 25 bp to 7.75 % in a second straight hike, citing persistent domestic pressures, higher energy costs and inflation at 5.2 %. The MPC warned it may tighten further despite forecasts for weaker GDP growth and rising unemployment to steer inflation back to the 2.5 % target.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Mauritius•Bank of Mauritius
Bank of Mauritius raised its Key Rate 25 bp to 4.75 %, the first hike since February 2025, citing energy-led price pressures and geopolitical risks and vowing to continue draining excess liquidity and watch foreign-exchange markets to anchor inflation expectations. It now sees 2026 headline inflation at about 5.5 % and real GDP growth easing to 2.8 %, says banks remain well capitalised and is prepared to meet between scheduled sessions if conflict spillovers worsen.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Indonesia•Bank Indonesia
Bank Indonesia raised the BI-Rate by 50 bp to 5.25 %, also lifting the Deposit and Lending Facility rates to 4.25 % and 6.00 %, marking its first hike since 2025 to defend the rupiah and anchor 2026-27 inflation within the 2.5 ± 1 % target. The central bank signalled a persistently tight stance, combining stepped-up on- and offshore FX interventions, higher SRBI yields and liquidity support to attract portfolio inflows and sustain growth.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore reported the conviction and sentencing of Tan Chun Yong and Xie Jianfeng in separate Securities and Futures Act cases for false trading and insider trading. Tan, a former trading representative, received 10 weeks’ imprisonment for abetting false trading in KTL shares and enabling unauthorised trading through six client accounts, while Xie, a former finance department general manager, was fined SGD 200,000 for insider trading in Sasseur REIT units and paid additional amounts in profit disgorgement and a voluntary charity contribution.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-20•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau (Hong Kong) reported that the Pilot Green and Sustainable Finance Capacity Building Support Scheme has approved over 10,400 applications with reimbursements exceeding HKD 59 million, providing up to HKD 10,000 per applicant. More than 60 per cent of beneficiaries are practitioners from banking, asset and wealth management, insurance and accounting, with the remainder comprising students and graduates, and the scheme now covers 117 programmes and qualifications. The Government will continue to review implementation and promote participation, with the scheme extended to 2028.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable financeFinancial literacy and education
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2026-05-20•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic reported that Chairperson Almaz Baketaev held an open dialogue with commercial banks to gather feedback on regulatory burden, digitalisation, consumer protection, new technological solutions and central bank–market interaction. The meeting established a basis for continued engagement, with both sides expressing readiness to work jointly on solutions for the sustainable development of the financial system.
SupervisionCooperationRegulatory burdenMarket development
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2026-05-20•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic adopted a resolution setting a minimum working capital requirement for exchange bureaus to support sector development and strengthen operating requirements. A second resolution amends licensing rules for exchange bureaus and microfinance organizations to align with international standards, revise conversion timelines for microcredit entities and credit unions, and adjust conditions for lifting restrictions on microfinance companies’ term deposit licenses.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-20•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 the Republic of Kazakhstan has approved Galimzhan Adilbekovich Shishingarin as Deputy Chairman of the Management Board and member of the Management Board of Kaspi Bank JSC. The decision is recorded in protocol No. 29/BVU/T dated 14 May 2026.
Institutional developmentLeadership change & appointmentsLicence approval
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2026-05-20•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 the Republic of Kazakhstan approved Murat Tursynuly Sharipov as a member of the executive body in the securities market. The decision is set out in Protocol No. 261/RCB dated 19 August 2025.
Institutional developmentLeadership change & appointmentsLicence approval
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2026-05-20•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 has issued a draft resolution on operating a digital platform for collective settlement of unsecured consumer bank loans and microcredit agreements. The draft defines interaction among borrowers, creditors and other participants, and sets requirements for user identification, data protection, information security, system integration, information storage, participant roles, access procedures, monitoring obligations and platform continuity.
Policy & regulationRules & requirementsLendingPrudential risks
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2026-05-20•Qatar•Qatar Central Bank
The Qatar Central Bank announced that the Eidiya ATM service will be available from Thursday, 21 May 2026. The service will dispense QR5, QR10, QR50 and QR100-200 denominations.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-20•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission and the Anti-Money Laundering Department of the State Bank of Vietnam held a training conference for securities and fund management companies on reporting obligations and updated rules on anti-money laundering, terrorist financing and proliferation financing. The event supported Vietnam’s national action plans ahead of the Asia-Pacific Group on Money Laundering’s third mutual evaluation and highlighted recent legal reforms, including Decree 306/2025/ND-CP on sanctions and work on additional sanctions for a draft decree on crypto assets and the crypto asset market.
Policy & regulationGuidance & interpretationAML and CFT
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2026-05-20•United Arab Emirates•Dubai International Financial Centre
The Dubai International Financial Centre announced that Gordian Capital has received Dubai Financial Services Authority approval to expand its institutional cross-border fund platform and solutions into Dubai from a new DIFC office, adding regulated fund infrastructure for institutional managers, asset owners and investment professionals in the Middle East. The licence permits Gordian to manage collective investment funds, advise on financial products, arrange custody and investment deals, manage assets within or from DIFC, and operate a fund platform for experienced investment professionals.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-20•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission, together with the Securities and Exchange Commission and the Bank of Thailand, launched the third Responsible Voices for Finfluencer programme to improve the quality of financial, investment and insurance content by online creators. The initiative trains selected finfluencers to provide accurate information, understand the impact of online communication and work with licensed businesses, with successful participants receiving certification and recognition by the Securities and Exchange Commission.
Financial literacy & educationOther
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2026-05-20•Albania•Ministry of Finance (Albania)
Albania’s Finance Ministry reported that Minister Petrit Malaj joined the fifth international No Money for Terror ministerial conference in Paris, reaffirming Albania’s commitment to combating terrorist financing and protecting financial system integrity. Albania is strengthening anti-money laundering and counter-terrorist financing by investing in institutional capacity, modernising financial monitoring and intelligence, expanding expertise in crypto assets and digital finance, and aligning its legal and regulatory framework with international and EU standards.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2026-05-20•Europe•European Central Bank
The European Central Bank’s March 2026 survey on euro‑denominated securities financing and non‑centrally cleared OTC derivatives showed a slight easing in overall credit terms between December 2025 and February 2026, especially for banks and dealers, driven by better market liquidity, competition and counterparty strength. In securities financing, funding demand, offered amounts and maturities rose, haircuts were stable, and financing rates and spreads increased. In non‑centrally cleared derivatives, initial margins fell slightly and non‑price terms were largely unchanged. Respondents expected a further slight easing in funding conditions from March to May 2026, while compared with a year earlier non‑price terms were broadly stable and price terms had tightened.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan reported a Q1 2026 current account surplus of USD 62.53 billion, USD 32.84 billion higher year-on-year, driven by a USD 30.97 billion increase in the goods trade surplus to USD 58.01 billion as exports benefited from emerging technology applications. The financial account showed a net asset increase of USD 64.86 billion, reflecting higher outward and inward direct investment, increased overseas portfolio holdings by residents, reduced Taiwanese equity holdings by foreign investors, and higher overseas deposits and trade credit, alongside a USD 4.66 billion decline in reserves.
Data & statisticsBalance of payments and other external statistics
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2026-05-20•Czech Republic•Czech National Bank
At the European Supervisor Education Initiative Conference, Czech National Bank Deputy Governor Jan Frait said the CNB backs simplifying financial regulation but warned against using it to reduce bank capital requirements, highlighting the bank’s repeal of 36 decree rules and proposals to remove statutory duties for financial market participants. He argued that extra regulation is needed for a sovereign risk tool to address credit and concentration risks from banks’ government bond holdings, noting that prior EU work on sovereign exposure treatment stalled at ECOFIN and is unlikely to resume soon.
Policy & regulationRules & requirementsRegulatory burden
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2026-05-20•France•Ministry of Economics & Finance (France)
The French Ministry of Economics and Finance released the concluding readout of the G7 finance ministers and central bank governors meeting under France’s presidency, highlighting efforts to reduce global imbalances, deepen partnerships with developing countries, and strengthen critical minerals supply chains. Discussions covered coordinated responses to global economic challenges, the impact of the Middle East crisis on trade and commodity prices, and continued support for Ukraine through sanctions on Russia and financial assistance. The ministry also cited the agreed G7 Finance communiqué, a joint statement on mobilising domestic public resources, and a communiqué on the global economy with partner countries.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2026-05-20•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance reported first-quarter 2026 GDP growth of 3.6 percent year on year and 1.7 percent quarter on quarter, supported by stronger corporate earnings, domestic demand, tax receipts and job creation. It cited an improved external position, with South Korea’s export ranking rising to fifth, a record current account surplus of USD 73.8 billion, KOSPI surpassing 7000 and increased foreign purchases of Korean Treasury bonds after inclusion in the World Government Bond Index. The ministry said an oil price ceiling and fuel tax cuts helped keep April consumer inflation at 2.6 percent.
Data & statisticsEconomic data and developments