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2026-05-11•Laos•Bank of the Lao
The Bank of the Lao announced an internal leadership reshuffle affecting the Information Technology Department, the Deposit Protection Office and the Non-Bank Financial Institution Supervision Department, as part of an organizational adjustment to align posts with current banking sector needs. Two department heads retired with pension benefits, while the bank appointed acting heads and transferred a deputy branch head to strengthen leadership, management and operational agility.
Institutional developmentLeadership change & appointmentsOther
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2026-05-11•Europe•Single Resolution Board
The Single Resolution Board has launched a public consultation on consolidated draft operational guidance for banks on liquidity and funding in resolution, updating expectations based on resolution planning experience and lessons from the 2023 banking turmoil. Targeted amendments cover the scope and standardised identification of Key Liquidity Entities, methodological assumptions for estimating liquidity needs, governance expectations for monitoring and reporting, and collateral-related expectations, consolidating prior guidance for banks under its direct remit where resolution is the preferred strategy.
Policy & regulationGuidance & interpretationLiquidity riskRecovery and resolution
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2026-05-11•Europe•European Central Bank
The European Central Bank has published staff research on how higher energy prices and war-related uncertainty in the Middle East could affect the euro area household saving rate, real GDP growth and inflation. Model scenarios show that an adverse terms-of-trade shock lowers the saving rate and growth but raises Harmonised Index of Consumer Prices inflation, while a rise in consumer uncertainty increases the saving rate and further reduces growth with negligible inflation effects. The analysis also finds contrasting distributional impacts, with lower-income households bearing most of the consumption decline under a terms-of-trade shock and higher-income households driving the adjustment under an uncertainty shock.
Research
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2026-05-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has fined Renta Nacional Compañía de Seguros Generales S.A. UF 150 for selling insurance between October 2021 and January 2025 through sales agents not enrolled in the Registry of Insurance Sales Agents and through brokers whose listings in the Registry of Insurance Trade Auxiliaries had been cancelled. The CMF Board found breaches of Articles 57 and 58 of the Insurance Law and General Rule No. 471, noting that the insurer failed to verify in the public registry that intermediaries were authorized before selling policies.
EnforcementInvestigations & enforcement actionsSales and distribution
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2026-05-11•Germany•German Bundesbank
The German Bundesbank, in cooperation with vdpResearch, has introduced a new quarterly commercial property price index for Germany based on more than 300,000 transactions since 2013, providing an additional data source for market monitoring. The first release shows commercial property prices up 2.1 percent year on year in the first quarter of 2026, continuing the upswing that began in mid-2024, with multifamily buildings recording the strongest long-term price growth and retail prices back near their initial level.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-11•Estonia•Central Bank of Estonia
The Central Bank of Estonia has published the timetable for balance of payments data releases, including first quarter figures on 8 June and second quarter 2026 foreign travel statistics on 12 August 2026. The travel statistics, which cover exports and imports of travel services, will be released as part of the central bank’s statistical data and separately from economic policy releases.
Data & statisticsBalance of payments and other external statistics
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2026-05-11•Pakistan•State Bank of Pakistan
The State Bank of Pakistan reported workers’ remittances of USD 3.5 billion in April 2026, up 11.4 percent year on year but down 7.6 percent month on month. Cumulative workers’ remittances for July to April of FY26 reached USD 33.9 billion, an 8.5 percent increase from USD 31.2 billion a year earlier, with April inflows mainly from Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States.
Data & statisticsBalance of payments and other external statistics
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2026-05-11•Indonesia•Bank Indonesia
Bank of Indonesia and Bank Negara Malaysia have signed a new memorandum of understanding to strengthen bilateral cooperation across central banking functions. The framework covers monetary policy, financial stability and macroprudential policy, payment systems and digitalisation, financial sector development, capacity-building and information sharing, and other agreed areas.
Policy & regulationCooperationDomestic cooperationMacroprudential policy and tools
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2026-05-11•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has disqualified Sydney director Katsuyoshi “Ken” Sadamatsu from managing corporations for five years, until 27 April 2031, for misconduct involving five failed accommodation and food services companies in New South Wales. ASIC found failures to meet statutory obligations to the Australian Taxation Office, inadequate books and records, asset sales below market value and to related entities to the detriment of the companies, and failure to prevent insolvent trading, with unsecured creditors owed AUD 4,375,875.63. Sadamatsu may seek review of the decision by the Administrative Review Tribunal.
EnforcementSanctions & designationsCorporate governance
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2026-05-11•Moldova•National Bank of Moldova
The National Bank of Moldova, in collaboration with the International Finance Corporation, held an online training session on green and sustainability linked loans to strengthen institutional capacity in line with Moldova’s Sustainable Finance Roadmap. The session covered global and European market developments, relevant EU and international regulatory frameworks, differences between green and sustainability linked loans, and Moldova’s potential to develop a domestic market for such lending.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable financeFinancial inclusion
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2026-05-11•Madagascar•Central Bank of Madagascar
The Central Bank of Madagascar has released its bulletin on economic conditions for the fourth quarter of 2025.
Data & statisticsEconomic data and developments
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2026-05-11•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has asked the public prosecutor to file a civil lawsuit against Paranya Rudjanapronpajee for alleged manipulation of Thiensurat Public Company Limited (now TSR Living Solution Public Company Limited) shares, after she refused to comply with sanctions imposed by the Civil Sanction Committee. The SEC is seeking THB 43,018,879.32 plus interest and maximum statutory penalties, including trading and director/executive bans, and has referred the case to the Anti-Money Laundering Office as unfair securities trading is a predicate offense under the Anti-Money Laundering Act.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-05-11•Europe•European Central Bank
European Central Bank Vice-President Luis de Guindos urged caution ahead of the June rate decision, stressing the need to await new staff projections, incoming data and more clarity on the Iran conflict, while saying the current energy shock poses lower inflation risk than in 2021-22. He warned that limited euro area fiscal space amid rising defence spending and possible energy support could lift yields and sovereign spreads, though the Transmission Protection Instrument has not been considered. De Guindos reiterated support for cross-border banking consolidation, urged restructuring of Germany’s fragmented banking sector and said political resistance to deals such as UniCredit–Commerzbank undermines the savings and investments union.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-05-11•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force issued Saint Vincent and the Grenadines’ second enhanced follow-up report, saying the country has been re-rated on four FATF Recommendations and is now compliant or largely compliant with 31 of 40. The report text provided shows Recommendation 15 on new technologies remained partially compliant because, despite new rules for virtual asset service providers, a sector-specific risk assessment and risk-based supervision are not yet in place.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2026-05-11•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported net foreign direct investment inflows of USD 590 million in February 2026, bringing cumulative January–February net inflows to USD 1 billion based on its Balance of Payments measure. February inflows were led by the United States and directed mainly to financial and insurance activities, while year-to-date equity capital placements came primarily from Japan, the United States, and Singapore into manufacturing, financial and insurance, and real estate. The central bank reiterated that its FDI statistics follow BPM6 and apply a 10 percent ownership threshold, distinguishing them from the Philippine Statistics Authority’s commitment-based approved foreign investment data.
Data & statisticsBalance of payments and other external statistics
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2026-05-11•Honduras•Central Bank of Honduras
The Central Bank of Honduras reported that net international reserves increased by USD1,129.7 million between 27 January and 8 May 2026, raising import coverage from 6.0 to 6.6 months under the 2026-2027 Monetary Program. Reserves rose from USD10,305.8 million to USD11,435.5 million over the period, although they declined by USD51.3 million in the latest week, with import coverage remaining at 6.6 months.
Data & statisticsBalance of payments and other external statistics
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2026-05-11•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has fined Renta Nacional Compañía de Seguros Generales S.A. UF 150 for selling insurance between October 2021 and January 2025 through unregistered sales agents and brokers whose registrations had been cancelled. The authority found breaches of Articles 57 and 58 of Decree with Force of Law No. 251, the Insurance Law, and General Rule No. 471, which require insurers to verify in the public registry that intermediaries are duly authorized to market insurance.
EnforcementInvestigations & enforcement actionsSales and distribution
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2026-05-11•Egypt•Central Bank of Egypt
The Central Bank of Egypt has signed a memorandum of understanding with the COMESA Competition and Consumer Commission to strengthen regional cooperation on competition protection across the Common Market for Eastern and Southern Africa, focusing on the banking sector and other central bank regulated activities. The arrangement aims to coordinate competition policies, enhance enforcement of competition rules, support review of cross-border mergers and acquisitions, and provide expertise sharing and capacity building across banks, exchange businesses, money transfer, credit inquiry and rating, credit guarantee, payment system operators, payment service providers, and financial technology.
Policy & regulationCooperationCross-border cooperation
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2026-05-11•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama reported that Superintendent Milton Ayón Wong participated in the first LatAm Economic Forum organized by the Bank of Spain, focused on capital flows, exchange rates, geopolitics and broader economic and financial challenges facing Latin America. As part of the same agenda, he also attended meetings of the Latin American Center for Monetary Studies on cross-border payments and monetary cooperation and held bilateral meetings with representatives of Spanish banks.
SupervisionCooperationCross-border cooperation
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2026-05-11•Global•World Bank
The World Bank’s Pacific Economic Update projects regional growth slowing to 2.8 percent in 2026 as higher fuel and shipping costs, supply chain disruptions, and global volatility weigh on fuel‑dependent Pacific economies. It urges shifting from repeated crisis response to a jobs‑first strategy that strengthens water, energy, transport, digital connectivity, skills, business conditions, market access, and access to finance and private investment. The report highlights reliable water systems as critical for employment, identifies tourism, agribusiness and fisheries, health and care services, resilient infrastructure, and digital services as key job‑creating sectors, and calls for stronger public financial management and targeted, temporary support for vulnerable households instead of broad subsidies.
ResearchEconomic data and developments
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2026-05-10•Egypt•Central Bank of Egypt
The Central Bank of Egypt has signed a cooperation protocol with the Internal Trade Development Authority to give banks aggregated electronic access to commercial registry data, including unified commercial registry numbers. The initiative supports completion of the Central Bank’s national database for corporate financial inclusion and aims to improve company profiling, risk analysis, credit decisions and tailored products, particularly for micro and small enterprises, women-owned firms, and businesses formalising from the informal economy.
Policy & regulationCooperationFinancial inclusion
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2026-05-10•Peru•Central Bank of Peru
The Central Bank of Peru published April results of its Macroeconomic Expectations Survey, reporting improved indicators of companies’ current conditions alongside a decline in business expectations that largely remained in optimistic territory. Overall, 15 of 18 indicators were above the 50-point neutral threshold, with the three-month economy indicator the only expectations measure below this level, while current-condition indicators such as business situation and production strengthened and demand stayed below neutral.
Data & statisticsEconomic data and developments
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2026-05-10•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority met with the consumer finance federation’s anti-fraud committee and 48 companies to review anti-fraud and cash-out measures, highlighting progress on a unified central database of entities and individuals created under Board Decision No. 222 of 2025. Enhancements include a separate watch list, expanded reporting and editing capabilities, broader coverage of harmful actors, and plans for real-time case reporting via APIs and phased expansion to microfinance and other financial federations.
Policy & regulationImplementation, projects & pilotsFraud and scamsAML and CFT
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2026-05-10•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has issued new rules for licensed takaful insurance companies under the Unified Insurance Law, replacing the 2019 framework and introducing an integrated wakala–mudaraba model alongside standalone models. The regime sets requirements for policy documentation, surplus and deficit treatment, reserves, Sharia-compliant investment, governance and disclosure, including an independent Sharia supervisory committee, a Sharia auditor, separation of shareholder and participant accounts, and rules on reinsurance placement with takaful or, subject to approval, conventional reinsurers.
Policy & regulationRules & requirementsCorporate governance
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2026-05-10•Oman•Oman Financial Services Authority
The Oman Financial Services Authority met active individual investors in the Muscat Stock Exchange to gather feedback on trading and the regulatory environment. It said the input will be considered in future capital market policies and procedures as part of a more interactive supervisory approach.
SupervisionSupervision approach, priorities & toolkitMarket development
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2026-05-10•Europe•European Central Bank
The European Central Bank and the Reserve Bank of India have signed an updated Memorandum of Understanding on cooperation in central banking, replacing their 2015 agreement. The MoU establishes a framework for regular information exchange, policy dialogue and technical cooperation, including joint seminars and workshops in areas of mutual interest.
Policy & regulationCooperationCross-border cooperation
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2026-05-10•Iraq•Central Bank of Iraq
The Central Bank of Iraq announced two seven-day dinar auctions for execution on 12 May 2026: Islamic certificate of deposit auction ICD816 for Islamic banks and central bank bill auction W508 for conventional banks at 5.25%. Participation in both is limited to banks with at least IQD 50 billion in qualifying IQD deposits as of 23 April 2026, with bid sizes between IQD 50 billion and IQD 500 billion, based on data submitted via BSRS.
Monetary policyMonetary policy instruments & operationsMonetary policy operations
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2026-05-10•Iraq•Central Bank of Iraq
The Central Bank of Iraq announced a seven-day auction of Islamic certificates of deposit (ICD816) for execution on 12 May 2026, open to Islamic banks via the Central Securities Depository system. Participation is restricted to Islamic banks with Iraqi dinar deposits above IQD 50 billion, with subscription sizes between IQD 50 billion and IQD 500 billion, based on private sector deposit data as of 23 April 2026 submitted through the BSRS system.
Monetary policyMonetary policy instruments & operationsOther
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2026-05-10•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank has licensed Madark Solutions for Financing to provide buy now pay later services, bringing the total number of licensed finance companies to 74. The authority reiterated that customers should only deal with authorized financial institutions listed on its website.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-10•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority has licensed Tatbiq Darahem Company for Technology Almaliya to provide account information services, a payment service linked to open banking, bringing the total number of licensed payment service companies in Saudi Arabia to 32. The licence follows the company’s completion of the regulatory sandbox phase under the authority’s supervision, and the authority reiterated that customers should deal only with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approvalRegulatory sandbox
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2026-05-10•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank held a meeting in Riyadh with chief executives of open banking companies to review developments in the open banking ecosystem and set operational and regulatory priorities as firms move from the Regulatory Sandbox to licensing. Discussions focused on strengthening compliance with upcoming requirements, enhancing coordination during the transition, and maintaining a regulatory framework that balances financial innovation with beneficiary protection.
SupervisionCooperationOpen banking and finance
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2026-05-10•Palestine•Palestine Capital Market Authority
The Palestine Capital Market Authority has issued new instructions establishing a regulatory framework for sharia compliant financial leasing, including licensing requirements, governance standards and clarified roles and responsibilities. The rules prohibit firms from combining conventional and sharia compliant financial leasing, mandate appointment of an independent Sharia adviser, and strengthen transparency and disclosure obligations, with compliance assessed against sharia requirements and relevant standards.
Policy & regulationRules & requirementsOther
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2026-05-10•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved First Avenue for Real Estate Development Company’s capital increase from SAR 205 million to SAR 300 million through issuing 95 million bonus shares, raising outstanding shares from 205 million to 300 million. Eligible shareholders will receive nine bonus shares for every 20 existing shares, funded by transferring SAR 95 million from the share premium account to capital, subject to an extraordinary general assembly and regulatory compliance.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-10•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Edarat Communication and Information Technology Company’s capital increase from SAR 50.4 million to SAR 75.6 million via a bonus issue of one new share for every two existing shares, funded by transferring SAR 25.2 million from retained earnings. Outstanding shares will rise from 5.04 million to 7.56 million, with bonus shares allocated to shareholders registered at the Securities Depository Center on the second trading day after a due date set by the board, subject to an extraordinary general assembly and regulatory compliance.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-10•Syria•Central Bank of Syria
The Central Bank of Syria announced the start of Oliver Wyman’s work to assess gaps in the central bank and the Syrian financial sector. Governor Abdulkader Husrieh met with banks and licensed exchange companies to discuss cooperation with the consultancy on a comprehensive assessment and the identification of technical and regulatory development needs in line with international standards.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-10•Palestine•Palestine Capital Market Authority
The Palestine Capital Market Authority reported that a delegation led by Director General Buraq Nabulsi visited Jordan to review the Jordanian insurance market’s experience, focusing on the electronic traffic accident reporting system E-Kroka. The delegation held working sessions with the Central Bank of Jordan, the Jordanian insurance federation and the Public Security Directorate on electronic issuance, data exchange with official bodies and the implementation and outcomes of E-Kroka, including faster, more accurate compensation and enhanced data for underwriting, claims and market analysis.
Policy & regulationCooperationOther
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2026-05-10•Israel•Bank of Israel
The Bank of Israel’s Banking Supervision Department published a retrospective update on crisis-era customer assistance programs, noting that payments on more than one million loans were deferred and that over 90 percent of borrowers subsequently resumed orderly repayment. The measures, developed and adjusted during the COVID-19 pandemic and recent conflicts, included loan deferrals and regulatory leniencies that enabled banks to hold less equity and continue expanding credit to households and businesses.
Policy & regulationImplementation, projects & pilotsLendingSupervision process and methodologies
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2026-05-09•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela reported on the participation of its acting president, Luis A. Pérez G., in the first LatAm Economic Forum, which gathers central bank governors, financial supervisors, academics and monetary policy researchers to discuss capital flows, exchange rates and geopolitics. Hosted by the Bank of Spain from 7 to 9 May, the event features an opening intervention by European Central Bank President Christine Lagarde and four closed-door panels. The Central Bank of Venezuela stated that its delegation’s participation forms part of the normalization of Venezuela’s relationship with multilateral financial institutions.
Policy & regulationCooperationCross-border cooperationMonetary policy decisions and developments
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2026-05-09•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority announced that the eMPF Platform has completed onboarding of all 24 Mandatory Provident Fund schemes offered by 12 trustees and is now fully operational as a one-stop digital system for more than 10 million accounts. The authority highlighted that the platform is intended to streamline procedures, reduce time and fees, enhance transparency and improve efficiency, and encouraged employers and scheme members to register and use the system.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-09•Vietnam•State Bank of Vietnam
The State Bank of Vietnam signed a memorandum of cooperation with the Reserve Bank of India on financial innovation and digital payments, establishing a framework for cooperation on financial and banking sector modernization, information sharing, management experience and innovation initiatives. The first project will support research and implementation of a cross-border retail QR code payment link between Vietnam and India to facilitate tourism, strengthen people-to-people exchanges and support the use of local currencies in bilateral retail transactions.
Policy & regulationCooperationCross-border cooperation
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2026-05-09•Europe•European Central Bank - Banking Supervision
European Central Bank Banking Supervision’s Sharon Donnery said in a keynote that completing the EU Single Market and reducing gender-based barriers should form a unified productivity agenda, arguing that a more integrated market would improve supervision and capital allocation. Citing IMF estimates that remaining Single Market barriers equal tariffs of about 44% for goods and 110% for services, she said convergence towards US internal market levels could raise long-run European productivity by nearly 7 percentage points and called for deeper capital markets via a savings and investments union. Donnery also highlighted persistent gender gaps in financial literacy, employment, pay and pensions, noting that euro area central banks are building a financial literacy network and implementing targeted initiatives for women.
Policy & regulationReform agendas & prioritiesOther
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2026-05-09•China•China Securities Regulatory Commission
The China Securities Regulatory Commission, with other agencies and State Council approval, issued a two-year plan to crack down on illegal cross-border securities, futures and fund business and to phase out domestic investor accounts while protecting investor property. It targets offshore institutions operating in China without approval, their domestic affiliates and related online marketing channels, and restricts existing investors to one-way sales and withdrawals before these institutions must fully shut China-facing services. The CSRC will lead implementation and maintain a list of illegal offshore operators.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2026-05-09•Moldova•National Bank of Moldova
The National Bank of Moldova has published Europe Day videos in which staff describe participation in the European Commission’s National Experts in Professional Training programme, highlighting exposure to EU policy development in banking legislation, financial market risk monitoring and anti-money laundering and counter-terrorist financing. The bank reports that this has strengthened analytical and risk capabilities, informed proposals on data harmonisation, artificial intelligence adoption and internal mobility, and expanded professional networks across the EU.
Institutional developmentCooperation & capacity buildingCapacity building
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2026-05-09•Moldova•National Bank of Moldova
The National Bank of Moldova, in a Europe Day statement, highlighted progress in aligning the country’s financial sector with the European framework, including modernisation of payment infrastructure and safer, more efficient payment services. It noted that Moldovan banks’ access to the Single Euro Payments Area has led to more than 70% of cross-border euro transaction volume being processed through SEPA and a reduction in transfer costs of over 90% to an average of EUR 1.26 per transfer, alongside efforts to enhance financial inclusion.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-08•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia has launched its 31st Training and Examination and Continuing Professional Education program for securities business firms, collective investment scheme firms, derivatives firms, issuers, and other securities service providers. The program targets management and senior staff of licensed, approved, or accredited entities to strengthen professionalism among market participants.
Policy & regulationImplementation, projects & pilotsCapacity building
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2026-05-08•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia held a seminar on the offering of real estate investment trusts under collective investment schemes at the Non-Bank Financial Services Authority building. The event was chaired by Director General Sou Socheat and brought together representatives from the Financial Services Authority, Cambodian Securities Exchange and a broad range of securities market stakeholders.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2026-05-08•Japan•Japan Financial Services Agency
Japan’s Financial Services Agency has published for consultation a draft partial revision to its Comprehensive Supervision Guidelines for Financial Instruments Traders to strengthen liquidity risk management by investment managers of public investment trusts. The proposals align domestic supervision with the International Organization of Securities Commissions’ recommendations on liquidity risk management for collective investment schemes and complement related changes consulted on by the Asset Management Association of Japan.
Policy & regulationGuidance & interpretationLiquidity risk
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2026-05-08•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury’s Office of Foreign Assets Control has designated 10 individuals and entities across the Middle East, Asia and Eastern Europe for supporting Iran’s procurement of weapons and raw materials for Shahed-series unmanned aerial vehicles and its ballistic missile program, including suppliers of aerospace-grade materials to the Islamic Revolutionary Guard Corps’ Aerospace Force Self Sufficiency Jihad Organization. The U.S. Department of State also designated four entities linked to Iran’s conventional arms activities. The designations under Executive Order 13382 block U.S.-held property, bar U.S. persons from dealings, extend blocking to majority-owned affiliates, and expose foreign financial institutions to secondary sanctions for significant transactions.
EnforcementSanctions & designationsNew sanctions designations
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2026-05-08•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance announced that the Council of Ministers has adopted a draft law to implement the EU’s Markets in Crypto-Assets Regulation, designating the Polish Financial Supervision Authority as supervisor with broad powers over crypto-asset issuance, trading and services. The proposal is largely unchanged from earlier drafts but introduces tougher sanctions, including up to 8 years’ imprisonment, fines of up to PLN 25 million, extended suspension powers, and enhanced client and investor protections such as stricter disclosure, marketing and redemption requirements.
Policy & regulationRules & requirements
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2026-05-08•Turks & Caicos Islands•Turks & Caicos Financial Services Commission
The Turks and Caicos Islands Financial Services Commission has launched a public consultation on a proposed Virtual Assets Business Bill, 2026, establishing a licensing, supervisory, prudential and enforcement framework for virtual asset service providers, stablecoin issuers and related activities. The draft regime addresses authorization, AML/CFT/CPF obligations, prudential rules for stablecoins, ICT and cyber resilience, sanctions, enforcement and a regulatory sandbox, aligns with FATF, IOSCO and FSB guidance, and excludes closed-loop tokens and certain non-VASP technology and infrastructure providers.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-08•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission hosted its inaugural Industry Dialogue Series on virtual assets and Virtual Asset Service Providers and formally recognised eight registered providers operating within Trinidad and Tobago’s regulatory framework. The hybrid session, held after new virtual asset legislation took effect, brought together regulators, law enforcement, financial sector representatives and industry stakeholders to discuss the evolving market, risk landscape, regulatory framework, suspicious activity reporting and emerging crypto-sector challenges.
Policy & regulationImplementation, projects & pilots
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2026-05-08•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency has issued a report, consistent with section 4 of Executive Order 14294 Fighting Overcriminalization in Federal Statutes, identifying criminal regulatory offenses enforceable by the Office of the Comptroller of the Currency or the Department of Justice. The report catalogues the relevant criminal regulatory offenses within the agencies’ remit.
Policy & regulationGuidance & interpretationOther
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2026-05-08•Zimbabwe•Securities & Exchange Commission of Zimbabwe
The Securities & Exchange Commission of Zimbabwe has posted a financial sector framework for contingency planning and systemic crisis management. It creates a cross-agency structure for crisis oversight and resolution, requires recovery and resolution planning for specified and systemically important firms, and sets quantitative triggers and tools for managing failing institutions. The framework took effect on 1 November 2025 and will be reviewed every two years.
Policy & regulationRules & requirementsRecovery and resolution
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2026-05-08•United Kingdom•Open Banking Limited
Open Banking Limited has launched the next phase of UK open banking by facilitating an industry-led design process for a Future Entity expected to become the primary standard-setting body, acting as a neutral facilitator while decision-making remains with industry participants. The programme aims to deliver a majority-supported blueprint aligned with the Financial Conduct Authority’s direction, and OBL is inviting firms, particularly smaller third-party providers and account servicing payment service providers, to join the Future Entity Design Working Group, with funding contributions starting at GBP 750 and GBP 1,500.
Policy & regulationImplementation, projects & pilotsOpen banking and finance
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2026-05-08•United States•U.S. Securities & Exchange Commission
U.S. Securities & Exchange Commission Commissioner Hester Peirce, speaking in a personal capacity, urged regulators to understand rapid changes in market structure and investor behaviour before intervening, cautioning against broad prescriptive rulemaking in response to expanded retail participation, prediction markets, options activity, active exchange-traded funds, crypto-linked products and technology-driven trading. She highlighted growth and complexity in options markets, called for greater engagement with market participants and academics, underscored the SEC’s statutory limits on enforcement and product approvals, and noted that the Office of Information and Regulatory Affairs dashboard indicates the SEC plans to rescind its climate disclosure rules.
Policy & regulationOtherFintech and insurtechMarket development
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2026-05-08•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission Chairman, speaking in a personal capacity, said the agency has recalibrated enforcement to focus on cases that deliver meaningful investor protection and strengthen market integrity, rather than signaling regulatory displeasure or expanding its reach. He emphasized rigorous economic analysis in determining securities law violations, calibrating corporate penalties, addressing issues such as preferential allocation and cherry-picking, ensuring fair distribution of recovered funds, and signaled an expanded role for the Division of Economic and Risk Analysis under new Enforcement Director David Woodcock.
EnforcementEnforcement frameworkOther
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2026-05-08•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission used its 30th anniversary conference to review its evolution into a 200-strong authority with expanded supervision of digital finance, financial technology and crypto-assets, and to outline future priorities around investor protection in the digital age, digitalised products, innovation and market integrity. Contributions from the European Securities and Markets Authority, the International Organization of Securities Commissions and other European regulators highlighted cross-border coordination and artificial intelligence-related risks and opportunities, including cyber resilience, model opacity, market concentration and the use of AI tools for detecting market abuse and illegal offerings.
SupervisionSupervision approach, priorities & toolkitOther
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2026-05-08•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued an investor warning that Nexymus, which claims to be located in the United Kingdom and operates via Nexymus.com, is not registered to deal or advise in securities or derivatives in New Brunswick. The Commission urged investors to avoid unregistered firms due to the lack of investor protections and referenced alerts from other Canadian securities regulators and the National Registration Search tool for verifying registration status.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-05-08•Poland•Central Bank of Poland
The Central Bank of Poland has released the minutes of the Monetary Policy Council decision-making meeting held on 9 April 2026.
Monetary policyPolicy rate decision minutes and accountsOther
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2026-05-08•Romania•Ministry of Finance (Romania)
The Ministry of Finance (Romania) has drafted a decision to establish the TechUp Romania financing scheme, a 2026–2032 programme to support frontier technology projects from research and development through to production, with an annual budget of about RON 759 million and a total allocation of up to RON 5.3 billion. The scheme would provide grants and a 200 percent tax deduction for research and development, as well as grants for initial production investments, targeting digital technologies, life sciences, energy, mobility and space, and Industry 4.0. Designed under EU state aid rules that do not require European Commission notification, the programme is part of Romania’s economic recovery package.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2026-05-08•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a roundtable on the banking sector’s role in supporting economic growth, outlining plans to run monetary policy in 2026 proactively and flexibly in coordination with fiscal and other macroeconomic policies. Officials reported total outstanding credit of more than VND 19.4 quadrillion as of 28 April 2026, up 4.42 percent from end-2025 and 18.26 percent year on year, including VND 437.7 trillion in policy credit supporting over 6.7 million poor households and other beneficiaries. The discussion is intended to refine policy mechanisms to improve capital transmission and access to finance, with credit directed toward production and other high-growth sectors.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2026-05-08•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has warned of fraud cases where its name, employees and logo are misused in connection with supposed loan transactions between Norwegian companies and foreign subsidiaries. It reiterated that it does not participate in, approve or facilitate loan agreements between private or intra-group companies and urged businesses and individuals to treat any such claims as misleading and verify information via official channels.
SupervisionAlertsFraud and scams
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has published the Financial Institutions and Markets Act 2 of 2021.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority published Namibia Financial Institutions Supervisory Authority Act 3 of 2021.
Policy & regulationRules & requirementsOther
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a comprehensive set of retirement fund standards under the Financial Institutions and Markets Act, 2021, effective 30 April 2026. The standards set binding requirements on funding, actuarial valuations, governance, member communications, transfers, dissolutions and registration. They require a minimum 100% funding ratio, annual valuations for defined benefit funds and remediation or rehabilitation plans for underfunded funds.
Policy & regulationRules & requirementsPrudential risksCorporate governance
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2026-05-08•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi has launched BurundiPay, a national instant payment system providing domestic interoperability across banks, microfinance institutions and mobile wallets, and held a workshop on the Pan-African Payment and Settlement System (PAPSS) as the next stage of payment modernisation. PAPSS, launched by Afreximbank and the African Union, enables real-time cross-border African payments in local currencies, and Burundi’s planned integration is framed as a way to facilitate instant transactions with institutions in 19 connected countries and ease pressure on the central bank’s foreign exchange reserves.
Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a full set of medical aid fund standards under the Financial Institutions and Markets Act, 2021, covering governance, solvency, member disclosures, waiting periods, reporting, dissolution and licensing processes for funds and brokers. The standards took effect on publication in the Gazette, and medical aid funds have 12 months to align their rules with the new rule requirements. Key measures include a three-month cap on general waiting periods, a 12-month cap on condition-specific waiting periods, stricter valuator and annual reporting requirements, and board accountability even where functions are outsourced.
Policy & regulationRules & requirementsCorporate governance
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a comprehensive set of collective investment scheme standards under the Financial Institutions and Markets Act, 2021, effective on publication in the Gazette. The package introduces new disclosure, governance, valuation, merger and transfer, and portfolio composition rules, including five-year and seven-year minimum investment periods for participation bond and unlisted securities schemes and a N$5,000,000 capital floor for trustees and custodians. It also formalises registration and approval requirements for key scheme participants and sets due diligence rules for foreign securities investments.
Policy & regulationRules & requirements
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a full rulebook for friendly societies under the Financial Institutions and Markets Act, 2021, covering governance, financial reporting, actuarial soundness, registration and dissolution. The standards require annual asset, liability and annual report filings, impose governance and risk controls, and set operational thresholds including a seven-member minimum and a 75% loan-to-value cap on member mortgage loans. Existing societies referred to in section 292 must update their rules within 12 months.
Policy & regulationRules & requirementsAccounting and financial reporting
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a comprehensive package of financial markets standards under the Financial Institutions and Markets Act, 2021, with immediate effect on gazette publication. The rules cover exchange listings, self-regulatory organisation reporting, off-exchange control-changing transactions, issuer and offer disclosures, governance, and licensing processes. Key measures include a two-day reporting deadline for certain off-exchange control transactions, a 5% affected-transaction threshold, and new capital, insurance, liquidity and conduct requirements for investment managers.
Policy & regulationRules & requirementsMarket infrastructureSecurities offerings and listings
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued a comprehensive set of general standards under the Financial Institutions and Markets Act, 2021, covering governance, fit and proper tests, independence, outsourcing, investment, customer treatment and supervisory filings. Key requirements include 30 day notifications for changes to auditors, valuators and principal officers, prior approval for offshoring of material functions, and payment of certain fund contributions within seven days of falling due. The standards took effect on publication, with a 12 month transition for existing outsourcing arrangements.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has issued standards governing how fund and society administrators apply for registration, how registration certificates are issued, and how registrations can be cancelled or varied. The measures require detailed governance, ownership, fit and proper, insurance and operational information, with submissions mainly made through NAMFISA's electronic system. Registered administrators seeking to exit or change licence conditions must follow a formal notice and application process and show how liabilities and client obligations will be handled.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has published notices confirming that the Financial Institutions and Markets Act, 2021 and the Namibia Financial Institutions Supervisory Authority Act, 2021 took effect on 1 May 2026, subject to limited exceptions. Accompanying regulations implement detailed rules for micro-insurance, health policies, money market instruments, retirement funds, investment limits for friendly societies and medical aid funds, and late-fee interest for intermediaries.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority said its 2021 enabling act and the Financial Institutions and Markets Act, along with related regulations and standards, took effect on 1 May 2026. Transitional provisions keep existing subordinate measures in force unless they conflict with the new laws, while implementation will follow a risk-based and proportionate supervisory approach. A planned regulation on preservation of pension benefits has been delayed, so existing lump sum commutation rules remain unchanged.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-08•Namibia•Namibia Financial Institutions Supervisory Authority
The Namibia Financial Institutions Supervisory Authority has identified the legacy subordinate legislation, market rules and other measures that will continue to apply under the Financial Institutions and Markets Act until replaced. The grandfathered measures cover insurance, medical aid funds, retirement funds, Namibia Stock Exchange rules, unit trust scheme deeds, declarations of undesirable practices, and all directives and circulars issued to date. Financial institutions must also amend or replace their own rules within six months from the Act's effective date if needed to comply.
Policy & regulationGuidance & interpretationRegulatory reporting
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2026-05-08•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has revised norms on educational use of market price data, introducing a uniform 30-day lag for sharing and use in investor education, except allowing the National Institute of Securities Markets one-day-lag access for its simulation lab. The provisions apply to market infrastructure institutions and registered intermediaries, prohibit monetary incentives, require due diligence, legal agreements and audit trails, and bar educators from using data from the preceding 30 days when indicating future prices, advice or recommendations.
Policy & regulationRules & requirementsMarket infrastructure
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2026-05-08•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago issued a media statement welcoming Republic Bank’s response to public concerns, stating that the bank’s chairman and board took appropriate action. It said its own intervention was minimal and aligned with working alongside the banking sector, and commended the chairman for the sensitive and positive handling of the matter.
SupervisionInterventionsOther
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2026-05-08•Moldova•Ministry of Finance (Moldova)
The Ministry of Finance of Moldova announced an International Monetary Fund mission to Chișinău from 7 to 20 May 2026 to negotiate a new program under the Policy Coordination Instrument. Discussions will cover tax reform, fiscal discipline, public revenue administration, macroeconomic and monetary policy, financial sector stability, capital market development, and an updated assessment of the macroeconomic outlook and risks. The ministry said the Policy Coordination Instrument enhances dialogue with the IMF and can bolster external partner confidence and financing.
Policy & regulationCooperationOther
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2026-05-08•India•Reserve Bank of India
The Reserve Bank of India has amended its capital adequacy directions to allow commercial banks to include current-year profits in Common Equity Tier 1 capital on a quarterly basis, subject to audited or limited review financials and a prescribed formula. Eligible profit up to quarter t is defined as net profit minus 0.25 times the average dividend of the last three financial years times t, while any cumulative net loss must be fully deducted from Common Equity Tier 1 capital.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-08•India•Reserve Bank of India
The Reserve Bank of India has amended payments bank capital adequacy rules to allow inclusion of current-year profits in Common Equity Tier 1 capital for capital to risk weighted assets ratio calculations on a quarterly basis. Quarterly profit recognition is allowed only where financial statements are audited or subject to limited review, with eligible profit defined as net profit up to the relevant quarter minus 0.25 times the average dividend paid over the last three financial years multiplied by the quarter number, and any cumulative net loss fully deducted from CET1 capital.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-08•India•Reserve Bank of India
The Reserve Bank of India has amended capital adequacy rules for small finance banks to allow inclusion of current-year profits in Common Equity Tier 1 capital on a quarterly basis, effective immediately. Quarterly profits may be recognised for capital to risk-weighted assets ratio purposes only where financial statements are audited or subject to limited review, with eligible profit defined as net profit up to the quarter minus 0.25 times the average dividend of the last three financial years multiplied by the number of quarters.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-08•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission has proposed amendments to its Part 50 swap clearing requirements to remove mandatory clearing for interest rate swaps linked to the Canadian Dollar Offered Rate and the Interbank Equilibrium Interest Rate, and to introduce clearing requirements for Canadian dollar and Mexican peso swaps referencing overnight, nearly risk-free rates. The proposal specifies new termination date ranges for Canadian dollar overnight index swaps referencing the Canadian Overnight Repo Rate Average and for Mexican peso overnight index swaps referencing the Overnight TIIE Funding Rate, and revises Regulation 50.25(b) to update compliance dates for the new mandatory clearing set.
Policy & regulationRules & requirementsCCPs
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2026-05-08•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada supported a Royal Canadian Mounted Police investigation that led to criminal charges against two individuals for a cyber-enabled scheme that fraudulently obtained about CAD 5.7 million from the Canada Emergency Wage Subsidy program. The suspects allegedly used compromised Represent a Client credentials to access Canada Revenue Agency My Business Account profiles of legitimate businesses and submit unauthorized claims, with affected businesses unaware their accounts were misused.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-08•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia held an event on interest rates, risk management and their social function, highlighting that financing costs remain restrictive despite recent declines. Financial Superintendent César Ferrari and Deputy Delegate for Risks Guillermo Sinisterra noted that average lending rates remain in double digits, with commercial, consumer and housing loan rates still elevated and microcredit growing faster than other segments, while emphasising that pass-through from the policy rate to lending rates is not immediate due to funding costs.
SupervisionRisk monitoring & watch pointsMonetary policy decisions and developments
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2026-05-08•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority warns about letters sent globally in the name of “Oliver Ottey” at 55 Athol Street, Douglas, Isle of Man, soliciting stockbroking investments and personal details, exposing recipients to potential fraud and identity theft. The Authority found no legitimate link between this individual and the address or any genuine Isle of Man business, and confirmed he is not licensed to provide financial services in or from the Isle of Man. Recipients should ignore the correspondence and contact local police.
SupervisionAlertsFraud and scams
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2026-05-08•United Kingdom•Bank of England
The Bank of England has published a staff working paper on how post-Brexit regulatory barriers affected UK banks’ cross-border activity with European Economic Area countries. Using confidential bank-level data for 2014 to mid-2024, it finds that banks losing passporting rights cut loans to and deposits from EEA countries by about 45% more than banks not reliant on that authorisation, with little evidence of offsetting activity via foreign affiliates. The authors conclude that regulatory access is central to cross-border banking and trade in services, stressing the views are research in progress and not Bank of England policy.
Research
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2026-05-08•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has updated guidance on its motor finance compensation scheme amid legal challenges, confirming firms should continue preparations while it supervises lenders on the basis that any quashed elements would be handled through complaints and supervision. Lenders must stay operationally and financially ready, including via provisions and auditor engagement, keep identifying relevant complaints and agreements, collect data on commission and disclosure, cooperate with the Financial Ombudsman Service, and be ready to resume normal complaint handling from mid-November 2026. Consumers are urged to complain directly to lenders rather than use potentially costly claims management firms.
Policy & regulationGuidance & interpretationOther
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2026-05-08•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has secured an additional 499-day prison sentence for Richard Faithfull after he failed to fully pay a Confiscation Order linked to his 2021 conviction for laundering GBP 2.5 million from at least seven overseas investment frauds. Faithfull has repaid GBP 349,214.37 of the GBP 529,961 ordered, remains liable for the outstanding balance and accruing interest, and recovered funds will be used to compensate victims.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-08•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority published remarks by Insurance Commissioner Dr Baghayo Saqware welcoming the launch of the Mufti Bima Foundation, a health insurance fund established by BAKWATA to support Tanzanians with special needs. TIRA framed the initiative as aligned with President Samia Suluhu Hassan’s vision and the government’s agenda to ensure universal access to health insurance services.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-08•South Africa•South African Reserve Bank
The South African Reserve Bank’s Prudential Authority outlined a three-part AI supervisory agenda for the financial sector focused on improving information, building skills and calibrating regulation. A joint Prudential Authority–Financial Sector Conduct Authority discussion paper on AI regulation is expected in early H2 2026, with regulatory arrangements likely by early 2027. The speech highlighted AI as a growing prudential and conduct issue, citing vulnerabilities such as third-party dependencies, cyber and model risks, and prioritising AI taxonomies, governance, explainability and disclosure. It noted gaps in skills, fairness testing and board oversight. In parallel, the Intergovernmental Fintech Working Group is developing an AI workstream with sandbox testing for complex use cases including algorithmic credit scoring, index insurance and tokenised assets.
SupervisionSupervision approach, priorities & toolkitArtificial intelligence
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2026-05-08•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has published Quarterly Financial Return templates for the quarter ended 31 March 2026 and requested in-scope insurers to report exposure to the Iran war and Middle East crisis, including latest loss estimates in the ‘MiddleEastExp’ tab. The request applies to Insurance Groups and Class 4, Class 3B and Class 3A insurers already subject to quarterly financial returns, with preliminary best estimates acceptable where loss figures are still being developed, and filings must be submitted via the BMA Submit Portal.
SupervisionRegulatory reporting
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2026-05-08•United States•The White House
The White House issued a statement highlighting the April US jobs report as evidence of continued labor-market strength, citing 115,000 jobs added in April and strong private-sector hiring, including 12,600 factory construction jobs. It noted average monthly job creation of 76,000 in 2026 versus 10,000 in 2025, the first manufacturing job growth since 2023, robust prime-age labor force participation, and a federal workforce reduced by 345,000 to its smallest level since May 1966 as a share of the total workforce.
OtherEconomic data and developments
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2026-05-08•United States•U.S. Securities & Exchange Commission
The Chair of the U.S. Securities and Exchange Commission, speaking in a personal capacity, said the Commission may consider a limited innovation pathway for onchain trading systems and use notice-and-comment rulemaking to clarify how securities law applies to onchain market structures. He outlined four policy work areas on applying exchange, broker, dealer and clearing agency definitions to onchain activity and clarifying treatment of crypto vaults, while reiterating firms remain responsible for AI tools they deploy.
Policy & regulationReform agendas & priorities
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2026-05-08•United States•Federal Reserve Board
The Federal Reserve Board published a FEDS Note analysing newly available SEC Form N-MFP investor-type data for institutional prime money market funds. It finds that share classes dominated by bank investors exhibit more volatile daily flows and a higher likelihood of large outflows, while holding more liquid, lower-risk portfolios, and suggests investor composition may indicate money market fund flow dynamics and potential run risk, although the analysis does not establish causality and is based on a non-stress period sample.
ResearchLiquidity riskMarket risk and volatility
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2026-05-08•United States•Federal Reserve Board
The United States Federal Reserve Board published a research note introducing a Short-Term Liquid Assets Ratio for long-term domestic corporate bond mutual funds, using SEC Form N-PORT data and a methodology to infer fund type and liquidity where disclosures are incomplete. The study finds that funds primarily manage redemption risk through short-term investment vehicles and repurchase agreements rather than cash, with liquidity buffers drawn down after stress episodes and subsequently rebuilt. It documents average and median ratios of 4.7% and 3.4% over 2019 Q4 to 2025 Q3 and finds higher buffers associated with stronger current net flows, prior extreme inflows and higher Level 3 asset shares, and lower buffers with prior extreme outflows.
ResearchLiquidity riskPrudential risks
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2026-05-08•United States•Federal Reserve Board
The Federal Reserve Board published research showing that classifying all individuals without a mortgage in credit bureau data as renters generates substantial measurement error and understates renter financial stress. Linked survey and Experian data reveal that many proxy renters are actually homeowners, leading to lower observed delinquency, credit utilization and financial hardship than among self-reported renters, and that alternative proxies based on age, credit scores or recent moves only partially improve identification.
ResearchCredit risk
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2026-05-08•United States•Federal Reserve Board
The Federal Reserve Board published research on buy here pay here auto dealers, finding they serve materially riskier borrowers than traditional auto finance and manage this risk through higher interest rates, more frequent repayments and greater use of repossessions. Buy here pay here loans account for about 2% of the USD 1.6 trillion auto loan market and 5% of the subprime segment, with balances up 214% since 2018, delinquency and repossession rates far above traditional lenders, and average subprime interest rates of 25.39%. The study also highlights more than USD 2 billion in bank commitments to the sector, historically supported by strong collateral protections, but notes that bank-reported probabilities of default on these exposures rose sharply in 2025.
ResearchLendingPrudential risks
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2026-05-08•United States•Federal Reserve Board
The Federal Reserve Board has published a research note finding that U.S. banks’ trade finance activities remain meaningful but declining and highly concentrated, with the five largest providers accounting for over 75 percent of trade finance loans and over 87 percent of trade finance claims. For the fourth quarter of 2024, trade finance exposures were small relative to balance sheets, and the note concludes that direct financial stability risks from these activities are limited, with broader lending to firms exposed to trade shocks posing a more important risk channel.
Research
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2026-05-08•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions has published registration details and the agenda for a virtual Industry Day on 4 June 2026, following its Quarterly Release Day on 21 May 2026, to allow stakeholders to engage with OSFI experts on quarterly regulatory releases and risks identified in the Annual Risk Outlook 2026-2027. Sessions will cover a draft revised Guideline B-2 on large exposures for small and medium-sized banks, proposed 2027 updates to the Capital and Liquidity Treatment of Crypto-asset Exposures Guideline, draft amendments to Pillar 3 interest rate risk in the banking book disclosures and Guideline B-12, proposed updates to the Draft 2027 Liquidity Adequacy Requirements Guideline and a new draft Internal Liquidity Adequacy Assessment Process Guideline, as well as revised Guides to Intervention and the approvals framework for targeted new entrants.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2026-05-08•Indonesia•OJK
The Indonesia Financial Services Authority has imposed intensive supervision on PT Lunaria Annua Teknologi (KoinP2P) following legal action against its management, including summoning shareholders, on-site inspections, an operational review and a special audit, while requiring continued services and fulfilment of lender obligations. It will monitor remediation, may impose sanctions, and reiterated peer-to-peer lending safeguards under POJK No. 40 of 2024, including caps on borrower charges, stricter e-KYC and credit scoring, enhanced internal controls, mandatory risk disclosures and potential licence revocation.
SupervisionReviews, inspections & stress testsCrowdfunding