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2026-03-31•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
Central Bank of Bosnia and Herzegovina Governor Jasmina Selimović delivered a keynote at the international “Central Banking” conference in Kuala Lumpur on structural changes in the global financial system, highlighting digital money, private digital currencies, and the need to safeguard monetary sovereignty and institutional resilience. She stressed integrating Bosnia and Herzegovina into the European financial framework, more resilient and diversified foreign exchange reserve management with a larger role for gold, and responsible use of artificial intelligence in central banking. The Central Bank was also named this year’s winner of “Central Banking” magazine’s award for initiative in financial stability.
OtherMonetary policy decisions and developments
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2026-03-31•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has issued guidance urging audit firms to strengthen information security and IT risk management in light of data leaks. Drawing on practices at public interest entity audit firms and De Nederlandsche Bank’s Good Practice on Information Security, the guidance highlights improvements in ICT risk processes, continuity and configuration management, supplier oversight, and incident learning. The authority says IT risk control will remain a supervisory priority and that it will continue engaging with the sector.
Policy & regulationGuidance & interpretationCyber resilience
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2026-03-31•Iraq•Central Bank of Iraq
The Central Bank of Iraq has announced two seven-day auctions for 21 April 2026: an Islamic certificate of deposit auction (ICD813) for Islamic banks and a Central Bank remittance auction (W505) for conventional banks at an interest rate of 5.25%. Eligibility for both is based on each bank’s Iraqi dinar private sector deposit base, with a minimum threshold of IQD 50 billion and bid sizes between IQD 50 billion and IQD 500 billion, calculated using deposit data as of 26 March 2026 submitted via the BSRS system.
Monetary policyMonetary policy instruments & operationsMonetary policy operations
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2026-03-31•Croatia•Ministry of Finance (Croatia)
Croatia’s Ministry of Finance reported that Deputy Prime Minister and Finance Minister Tomislav Coric met the European Investment Bank’s new vice-president and his predecessor to review bilateral cooperation and the economic outlook at a Croatian National Bank–EIB conference on artificial intelligence. Discussions covered past and prospective cooperation, including in health and energy. The ministry said the EIB Group has financed EUR 8.33 billion of projects in Croatia from 2001 to end-2025, alongside European Investment Fund investments of EUR 715 million via funds and EUR 1.3 billion in guarantees.
Policy & regulationCooperationArtificial intelligenceMarket development
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2026-03-31•Dominican Republic•Central Bank of the Dominican Republic
In its March 2026 decision, the Central Bank of the Dominican Republic kept the monetary policy rate at 5.25%, with the 1-day repo rate at 5.75% and the overnight deposit rate at 4.50%, as it balanced higher Middle East-related uncertainty and oil prices against recovering domestic activity and inflation expectations anchored to target. Annual inflation was 4.67% in February and core inflation 4.76%, both within the 4.0% ± 1.0% target range, and the central bank said it expects 2026 inflation to close within target while continuing to monitor global conditions and act as needed.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-31•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro’s Council approved the 2025 financial statements, confirmed by an unqualified external audit opinion, and decided to transfer EUR 7.8 million of the EUR 19.5 million net profit to the state budget, with the remainder to reserves. The Council also adopted a draft law amending the Payment System Law to align with the EU acquis, maintained the countercyclical capital buffer rate, revoked Foldana Financial LLC’s licence, and reviewed supervisory materials including quarterly and annual bank reports and bankruptcy proceedings.
Policy & regulationRules & requirementsFinancial benchmarks
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2026-03-31•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro has signed a licensing agreement with the European Payments Council to introduce a domestic instant payment scheme aligned with Single Euro Payments Area standards under the TIPS Clone project. Montenegro becomes the first Western Balkans country to secure the framework for SEPA-standard instant payments, with implementation mirroring the Eurosystem’s TARGET Instant Payment Settlement service and the Bank of Italy as technical provider. The system will enable near-instant, 24/7 payments with lower costs and greater interoperability with the European payments market.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-03-31•Serbia•National Bank of Serbia
The National Bank of Serbia published an overview of global financial market developments for 23–27 March 2026, noting euro depreciation against the US dollar, higher long-term US and German government bond yields, and weaker US and euro area preliminary March composite PMI readings. The report highlights European Central Bank communication indicating no urgent need for rate increases and lower median inflation expectations, alongside modestly higher Brent crude prices and a decline in gold. It also notes that after the escalation of the Middle East conflict, Central and Eastern European currencies weakened against the euro, local-currency bond yields rose sharply, and yields on 10-year euro-denominated Eurobonds, including Serbia’s 2036 issue, increased.
Monetary policyMonetary policy assessments & outlooksFinancial and market indicatorsForeign exchange policy and markets
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2026-03-31•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg has published a research paper on Luxembourg-domiciled private market funds, constructing a new database to assess their scale, structure and potential financial stability risks. The study estimates total net assets at EUR 1.61 trillion at end-2024, with closed-ended vehicles managing over 80% of assets and non-directly supervised structures accounting for around two-thirds, and finds activity is largely driven by private equity and real assets, with asset growth linked to equity markets, exchange rates and global interest rates.
ResearchOther
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2026-03-31•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has issued a sanctions notice after the UN Security Council Committee added Hamidah NABAGALA (QDi.439) to the ISIL (Da’esh) and Al‑Qaida sanctions list and updated the UN Consolidated List, which applies in Guernsey via UK and local regulations. Businesses must screen for links to designated persons, immediately freeze relevant funds and assets, avoid making funds or economic resources available to them except under permitted licences, and report any matches to the States of Guernsey Policy & Resources Committee and the Commission in line with statutory and Handbook Rule 12.37 obligations.
Policy & regulationGuidance & interpretationSanctions list update
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published balance of payments statistics for Q4 2025, showing the current account deficit narrowed year on year by USD 229.8 million to USD 484.5 million, or 4.6 percent of GDP, and by USD 803.9 million to USD 1,008.4 million, or 2.6 percent of GDP, for 2025 as a whole. The improvement was driven mainly by a higher services surplus and increased current transfers, while the goods deficit widened and the current account gap was predominantly financed by net foreign direct investment of USD 374.4 million, or 3.5 percent of GDP.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published updated gross external debt statistics, compiled under the International Monetary Fund’s External Debt Statistics Guide and harmonised with balance of payments data. Georgia’s gross external debt stood at USD 26.9 billion (70.4% of GDP) at 31 December 2025, with net external debt at USD 12.6 billion (33.1% of GDP), and the National Bank of Georgia’s external liabilities declining to USD 780.9 million.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published updated statistics on Georgia’s international investment position, reporting a net IIP of USD -32.3 billion (GEL -87.1 billion) as of December 31, 2025, equivalent to -87.7% of annual GDP and a deterioration of USD 2.5 billion year on year. International assets rose to USD 19.9 billion (GEL 53.7 billion), while international liabilities increased to USD 52.3 billion (GEL 140.8 billion).
Data & statisticsBalance of payments and other external statistics
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2026-03-31•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported its seasonally adjusted monthly House Price Index showed U.S. house prices rose 0.1% in January and 1.6% year-on-year, with December’s change revised from 0.1% to 0.3%. Regional monthly changes ranged from -0.7% in the West South Central division to +1.7% in the East South Central division, and 12‑month changes from -0.8% in West South Central to +4.4% in East North Central. The agency will introduce an Expanded-Data House Price Index that broadens coverage from 50 to over 400 metropolitan areas.
Data & statisticsEconomic data and developments
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2026-03-31•Türkiye•Banking Regulation and Supervision Agency
The Banking Regulation and Supervision Agency of Turkey published its February 2026 Banking Sector Monthly Bulletin, providing key financial data regularly reported by institutions under the Banking Law and related regulations. The release supports the authority’s supervisory transparency and public information objectives.
Data & statisticsSupervisory data
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam set strategic priorities for the Cooperative Bank of Vietnam for 2026–2031 at its 2025 member delegates congress, which elected a new Board of Directors and Supervisory Board and appointed Nguyen Quoc Cuong as Chair. SBV directed the apex bank for nearly 1,200 People’s Credit Funds to align with SBV’s direction, pursue safe, effective credit growth in priority sectors like agriculture and rural development, strengthen inspection and supervision, resolve weak funds, and lead digital transformation and governance improvements. SBV also presented emulation flags and commendations, and the new leadership pledged to embed this guidance into the bank’s five-year strategy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-31•Europe•European Systemic Risk Board
The European Systemic Risk Board said systemic risks in the EU remain elevated and have risen since November, driven by the escalating Middle East conflict, energy price volatility, bond market repricing, equity declines and high cyber risk. It warned that prolonged conflict could trigger disorderly asset price corrections, tighter financing, and higher credit and sovereign risks, with vulnerabilities in some investment funds and private markets amplifying stress. The General Board also set priorities for its response to the European Commission’s consultation on banking competitiveness, published the 55th risk dashboard and reappointed Professor Richard Portes to the Advisory Scientific Committee until March 2030.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMarket risk and volatility
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2026-03-31•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has published a research paper under the Bilateral Assistance and Central Bank Capacity Building programme analysing how liquidity conditions influence volatility in the overnight interbank interest rate and setting out policy recommendations. Prepared jointly with the Swiss State Secretariat for Economic Affairs and the Geneva Graduate Institute and released on both institutions’ platforms, it forms part of an ongoing research collaboration the central bank plans to continue.
ResearchOther
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2026-03-31•Europe•Committee on Economic and Monetary Affairs
The European Parliament’s Economic and Monetary Affairs Committee will hold a public hearing on the role of pension funds and insurers in mobilising long-term capital, with input from sector experts, EIOPA and Better Finance. The discussion will examine conditions for these institutions to thrive within the Savings and Investments Union and Draghi report context, and is linked to ongoing reviews of the Institutions for Occupational Retirement Provision Directive and the Pan-European Personal Pension Product Regulation, plus a briefing on their potential to fund riskier investments and support EU capital markets.
Policy & regulationReform agendas & prioritiesMarket development
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2026-03-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia’s Annual Report 2025, Economic and Monetary Review 2025 and Financial Stability Review for Second Half 2025 confirm a resilient financial system supporting the economy. The central bank reported 2025 GDP growth of 5.2% with 1.4% inflation and projects 2026 GDP growth of 4%–5% and headline inflation of 1.5%–2.5%. It highlighted strong capital, liquidity and asset quality, sectoral reforms including the Consumer Credit Act, and enhanced anti-fraud and financial literacy initiatives. The Annual Report shows total assets of MYR 602.22 billion, net profit after tax of MYR 12.45 billion, MYR 5 billion in dividends to the Government, and ongoing work on the post-2026 financial sector blueprint.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsMonetary policy decisions and developmentsFinancial stability and systemic risk
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2026-03-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia published its IMF Special Data Dissemination Standard detailed breakdown of international reserves, confirming that Malaysia’s reserves remained usable as at end-February 2026. Official reserve assets were USD128,298.1 million, with pre-determined short-term outflows of USD10,240.0 million, net short forward positions of USD21,211.3 million and contingent short-term net drains of USD847.2 million in Government guarantees of foreign currency debt due within one year.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority published Bulletin Issue 01/2026, featuring an article titled “The Hong Kong Bond Market in 2025.” The article is available for viewing and download on the Hong Kong Monetary Authority website.
ResearchMarket development
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has published analytical data on the Hong Kong Special Administrative Region’s foreign currency reserves and liquidity as at end-February 2026, using the International Monetary Fund’s Special Data Dissemination Standard (SDDS) template. The authority reiterated that it issues four Exchange Fund data press releases each month, comprising three SDDS monetary data releases and a separate release on the Exchange Fund’s abridged balance sheet and currency board account.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported that in February 2026 total deposits with authorized institutions rose by 0.9% and total loans and advances increased by 0.6%, lifting the Hong Kong dollar loan-to-deposit ratio to 72.4%. Hong Kong dollar deposits declined by 0.2% while foreign currency deposits rose by 1.7% and renminbi deposits increased by 3.6% to RMB 1,029.3 billion. Hong Kong dollar M2 and M3 both rose modestly in February and 2.1% year on year, while seasonally adjusted Hong Kong dollar M1 increased 12.6% year on year.
Data & statisticsMonetary data
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority published its February 2026 residential mortgage survey, reporting month-on-month declines in mortgage applications, approvals and loan drawdowns, while the outstanding mortgage book continued to edge higher and delinquency indicators remained low. Total approved mortgage loans fell 10.8% to HKD 29 billion and loans drawn down dropped 24.4% to HKD 16.4 billion, as primary and secondary market approvals weakened and refinancing approvals rose.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert on scams involving fraudulent websites and internet banking login screens impersonating The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank and OCBC Bank (Hong Kong). It reiterated that banks do not send embedded hyperlinks for transactions or request sensitive information via phone, email or SMS, and advised affected individuals to contact the bank and report cases to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2026-03-31•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 reported on a delegation visit to Japan to deepen regulatory cooperation with the Japan Financial Services Agency and the Securities and Exchange Surveillance Commission in support of cross-border investment and financial sector digitalisation. The authorities discussed technical assistance for Kazakhstan’s stock market development programme to 2030 and new securities market law, and signalled readiness to sign a memorandum of understanding on information exchange, financial stability consultations, supervision, consumer protection, and adoption of international best practices.
Policy & regulationCooperationCross-border cooperation
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2026-03-31•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing met Monetary Authority of Macao Administrative Committee Chair Huang Shanwen to discuss recent domestic and international economic and financial conditions. The authorities exchanged views on deepening capital markets cooperation between mainland China and Macao during the 15th Five-Year Plan period, including support for Macao’s integration into national development and economic diversification.
Policy & regulationCooperationCross-border cooperation
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2026-03-31•China•Central Bank of the Republic of China
The Central Bank of the Republic of China’s February 2026 statistics showed a sharp year-on-year rise in money market activity, with average daily interbank lending up 87.1% to CNY 429.32 billion and interbank bond repo trading up 52.9% to CNY 7.4 trillion, while short-term funding rates stayed broadly stable. Government and corporate bonds saw net financing of CNY 1.40138 trillion and CNY 152.18 billion, taking total bond custody to CNY 198.9 trillion, including CNY 3.4 trillion held by foreign institutions. The interbank bond market remained concentrated in corporate credit bonds, with the top 50 investors holding 53.7% and accounting for 61.1% of trading.
Data & statisticsMonetary data
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2026-03-31•China•Central Bank of the Republic of China
The People’s Bank of China held a televised meeting on its 2026 survey and statistics work, prioritising a stronger integrated financial statistics framework, completion of reporting on the financial “Five major articles” and local government financing vehicle debt, and tighter data-quality controls to support macroeconomic management and risk prevention. Building on its 2025 rollout of a “1+N” statistical system and expanded use of the national financial basic database, the central bank will continue core monetary and structural statistics while enhancing analytical use of the database and maintaining strict controls to uphold rigorous, standardised financial statistics.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2026-03-31•China•Central Bank of the Republic of China
The People's Bank of China reported that Deputy Governor Xuan Changneng held separate meetings with BlackRock Vice Chairman Philipp Hildebrand and Citi Group International business Chief Executive Officer An Licheng during the China Development Forum. The parties exchanged views on current economic and financial conditions in China and globally, as well as on the opening-up of China’s financial sector.
Monetary policyOtherCross-border cooperation
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2026-03-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission reported that life insurers’ premium revenues from new foreign-currency denominated policies rose 115% year-on-year to NT$69.536 billion as of end-January 2026. Traditional insurance products accounted for NT$59.620 billion (86% of the total), up 119% year-on-year, while investment-linked products reached NT$9.916 billion (14% of the total), up 94% year-on-year.
Data & statisticsFinancial and market indicators
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a conference for state capital representatives and supervisory boards at enterprises and credit institutions under its management, setting expectations on exercising ownership rights, strengthening oversight, and improving state capital efficiency, while updating its internal framework for managing and investing state capital. Governor Nguyễn Thị Hồng urged them to fix constraints and prioritise organisational streamlining, safe credit growth to priority sectors, charter capital increases, stronger internal controls, and better non-performing loan management. SBV is seeking internal comments on a draft decision to replace its existing framework and is preparing draft decrees on state capital management at Vietnam Deposit Insurance and on the financial mechanism for credit institutions.
Policy & regulationRules & requirementsMandate change
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2026-03-31•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance announced National Assembly approval of amendments to the Framework Act on Supporting Supply Chain Stabilization for Economic Security, expanding the Supply Chain Stabilization Fund’s eligible investments, diversifying funding sources to include private contributions, easing pre-emptive rights on equity disposals, and revising fund governance. The ministry also highlighted a KRW 1.5 trillion special support programme to address Middle East-related impacts, including extended loan maturities, preferential interest rates of up to 2.3 percentage points, and faster support assessments for firms handling high-dependence economic security items.
Policy & regulationRules & requirementsOther
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2026-03-31•Japan•Ministry of Finance (Japan)
Japan’s Ministry of Finance reported that it conducted no foreign exchange intervention operations between 26 February 2026 and 27 March 2026. The total intervention amount over this period was JPY 0.
Data & statisticsForeign exchange policy and markets
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2026-03-31•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation published its 2025 annual report and audited financial statements, highlighting total comprehensive income of GBP 1.3 million and reserves of GBP 49.2 million, supported by cost reductions and deferred spending. The report details 2025 technical delivery by the International Accounting Standards Board and International Sustainability Standards Board, noting their standards are complementary but not required to be applied together. The Trustees will continue to oversee the organisational transformation programme in 2026, including restructuring, cost reviews and a refresh of the Foundation’s medium- to long-term strategy.
Institutional developmentMandate & organizational structureAccounting and financial reporting
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2026-03-31•United Kingdom•Prudential Regulation Authority
The UK Prudential Regulation Authority has finalised the Financial Services Compensation Scheme Management Expenses Levy Limit for 2026/27 at GBP 113 million, confirming its consultation proposals unchanged. The limit comprises a GBP 108 million management expenses budget and a GBP 5 million unlevied reserve, applies to all levy-paying firms authorised by the Prudential Regulation Authority and the Financial Conduct Authority, and will be offset by a forecast GBP 2.5 million underspend from 2025/26.
Policy & regulationRules & requirementsPrudential risks
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank has released an updated online-only Tax Chronology of South Africa covering tax, duty and levy rates and related policy parameters over 1979–2026. The supplement consolidates time series across major tax headings and reflects selected 2026 Budget measures, including adjustments to personal income tax brackets and rebates, medical tax credits, tax-free savings limits, VAT registration thresholds and exchange control limits. It also notes plans to publish draft regulations to implement the capital flow management framework and a future crypto assets framework for cross-border activities, alongside Reserve Bank operational reforms to reduce administrative burden.
Data & statisticsTaxation
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank released updated statistical tables in its March 2026 Quarterly Bulletin, covering balance of payments, gross value added, household consumption and selected national accounts indicators through 2025. The data show a 2025 current account deficit of ZAR 35,222 million, a trade balance of ZAR 212,084 million and 0.4% quarter-on-quarter GDP growth in 2025 Q4 at constant 2015 prices, with household consumption up 1.2% and gross fixed capital formation up 1.3%.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank published updated gross external debt statistics showing total gross external debt rose to USD 200,307 million at end-December 2025, from USD 193,047 million at end-September 2025 and USD 168,354 million at end-December 2024. General government accounted for USD 98,233 million, entirely long-term and mainly in debt securities, while deposit-taking corporations excluding the central bank held USD 43,510 million, predominantly short-term, with the remainder across direct investment, public corporations, other sectors and the central bank.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank reported that South Africa’s positive net international investment position (IIP) declined from a revised ZAR2,362 billion at end September 2025 to ZAR1,988 billion at end December 2025, as foreign assets edged down and foreign liabilities increased. Foreign assets fell 0.1% to ZAR10,314 billion while foreign liabilities rose 4.5% to ZAR8,325 billion, driven mainly by valuation effects from higher domestic equity prices and a stronger rand, reducing the net IIP from 31.3% to 26.0% of GDP.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market joined the presentation of a study on corruption risks in residential property investment and endorsed its use as a roadmap to strengthen investor protection and supervision in housing finance. The study highlighted gaps from 2022 legislative changes that let developers raise funds directly without adequate oversight, weak requirements for developers, and unclear supervisory powers. The Commission also backed integrating its registers with those of the State Inspectorate for Architecture and Urban Planning to track investor cash flows versus construction progress and is reinforcing responsibilities and disclosure rules for managers of FFB and FON structures.
Policy & regulationReform agendas & prioritiesOther
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2026-03-31•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors published two reports concluding its multi-year assessment of the Holistic Framework for mitigating systemic risk in the insurance sector, finding strong progress across 16 major markets but persistent gaps in resolution capabilities and liquidity risk disclosure. The 2025 Targeted Jurisdictional Assessment of six group-wide supervisors for 10 Internationally Active Insurance Groups identified robust risk identification and macroprudential data collection but uneven group-level analysis, liquidity risk requirements and resolution frameworks. A parallel 2025 exercise for 10 jurisdictions previously assessed in 2022 noted strengthened resolution powers and recovery planning, while highlighting remaining weaknesses.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2026-03-31•Ireland•Central Bank of Ireland
The Central Bank of Ireland published opening remarks by Governor Gabriel Makhlouf at the inaugural Savings and Investment Forum, part of efforts to boost retail participation in capital markets and support the EU Savings and Investments Union agenda. He highlighted the scale of euro area deposits and the concentration of Irish household wealth in housing and bank deposits, alongside low direct retail market participation. Makhlouf identified psychological, knowledge and ecosystem barriers and stressed the need for suitable products, financial education and advice, and strong consumer protection, including balancing product flexibility with standardisation.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2026-03-31•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait published the thirteenth issue of its quarterly report series, titled “Opportunity Cost”, outlining an economic approach to decision-making and rational behaviour. The report discusses scarcity and choice, explains the concept of opportunity cost, and highlights the importance of efficient resource allocation in meeting needs and achieving objectives.
Financial literacy & educationOther
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2026-03-31•Denmark•National Bank of Denmark
The National Bank of Denmark reported that Denmark’s net international investment position rose to a record DKK 3,220 billion at end-2025, around five times higher than at end-first half 2024. The increase was driven mainly by valuation losses on foreign investors’ Danish equity holdings, notably a DKK 1,827 billion fall in foreign investments in Novo Nordisk shares, alongside a DKK 565 billion balance of payments surplus and gains on Danish holdings of foreign equities, partly offset by exchange-rate losses on dollar-denominated assets.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority warned that extended warranties may be offered only by licensed and registered insurance companies. Unlicensed sellers may face fines of up to SAR 2 million, imprisonment for up to four years, or both.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-03-31•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank reported that in 2025 Dutch pension funds cut United States securities and increased European holdings, especially sovereign and corporate bonds. Net U.S. sales totaled EUR 30 billion, while European securities rose by about EUR 23 billion, driven by German and Spanish sovereign bonds and European corporate bonds from French and Dutch issuers and financial institutions. Globally, pension funds sold EUR 36 billion of equities, including major disposals linked to Japan, Taiwan and the Cayman Islands.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Austria•Austrian National Bank (OeNB)
The Austrian National Bank has launched a free, interactive commercial real estate dashboard consolidating key data and analysis on Austria’s commercial property market as part of its financial stability work. Complementing its residential real estate dashboard, the tool provides around 50 indicators and over 1,000 time series across supply, demand, market and macroprudential dimensions, including granular data on lending volumes, interest rates, financing structures and credit quality, and will be expanded in July 2026 to include price, transaction and vacancy data.
Data & statisticsMarket development
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2026-03-31•Germany•German Bundesbank
The German Bundesbank reported that Germany’s general government Maastricht debt rose by EUR 144 billion in 2025 to EUR 2.838 trillion, lifting the debt-to-GDP ratio to 63.5% from 62.2%. It said the 1.3 percentage point rise reflected a 3.3 point mechanical increase from higher debt, partly offset by 2.0 points from nominal GDP growth, and that debt growth exceeded the Maastricht deficit because some borrowing financed financial asset accumulation. The Bundesbank estimated Germany’s attributed share of EU institutions’ debt at about EUR 118 billion (2.6% of GDP) out of EUR 477 billion in 2025, mainly from Next Generation EU transfers and EU loans to Ukraine.
Data & statisticsEconomic data and developments
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2026-03-31•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye’s Insurance and Private Pension Regulation and Supervision Agency issued a circular detailing operating rules for appointing insurance experts (loss adjusters) and managing examinations under the Insurance Experts Appointment Regulation, centred on the Expert Appointment and Tracking System (EKSIST) and a list- and score-based allocation model. It sets claim notification and documentation procedures, expert appointment timelines for compulsory motor third-party liability and motor own-damage insurance, operational limits on appointments and reporting, and a 1,000-point performance scoring system guiding expert selection. It applies from 1 April 2026, with a 30-day transition for mandatory appointments, and will initially run as a pilot in Bursa and Ordu.
Policy & regulationRules & requirementsOther
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2026-03-31•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority reported that the Labuan International Business and Financial Centre has risen to 55th place in the Global Financial Centres Index 39, up from 60th, and reclassified from an International Specialist to an International Contender. Labuan IBFC was also ranked 37th globally for its FinTech Offering, recognised among the top 15 centres for Reputational Advantage, and its positioning was linked to Malaysia’s 2025 FATF Mutual Evaluation outcome and Labuan’s role in the national AML/CFT/CPF framework, including cross-border structuring and sustainable finance.
OtherMarket developmentFinancial and market indicators
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2026-03-31•Hungary•National Bank of Hungary
The National Bank of Hungary has published the March issue of its Financial and Economic Review, featuring research on Bulgaria’s euro area accession, BERT-based text analysis in economic research, evolving bank sustainability disclosures under EU rules, and capital adequacy requirements. Articles note that euro adoption would reduce currency and country risk but not Bulgaria’s structural issues, show that a news-based sentiment index can help predict crises, and find that banks’ sustainability reports under the Corporate Sustainability Reporting Directive have become more standardised and narrative. Other contributions assess capital requirements for investment firms, fiscal pressures from global challenges, and argue that monitoring debtors’ greenhouse gas emissions should rest with environmental authorities, not banks.
ResearchClimate risk and sustainable financeFinancial stability and systemic risk
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2026-03-31•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
Uzbekistan’s Ministry of Finance reported that Deputy Prime Minister and Economy and Finance Minister Jamshid Kuchkarov met the IMF mission under the Article IV consultation to review the economic outlook and priority reforms. Discussions in Tashkent focused on macroeconomic stability, inflation control, state-owned enterprise and bank transformation, energy-sector reforms, financial-sector development and implementation of Financial Sector Assessment Program recommendations. Both sides described cooperation as constructive and ready to deepen engagement in support of reforms.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsFinancial stability and systemic risk
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2026-03-31•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association reported that worldwide investment fund net assets rose 3.5% in Q4 2025 to EUR 80.3 trillion, with global fund flows reaching a record high on the back of strong equity and bond markets. Long-term funds attracted EUR 909 billion of net inflows, led by the United States and Europe, while exchange-traded funds and money market funds gathered EUR 699 billion and EUR 401 billion respectively. For 2025 as a whole, worldwide regulated open-end fund assets increased 5.3% to EUR 80.3 trillion, with net inflows of EUR 3,183 billion, driven primarily by bond funds.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Europe•European Banking Federation
The European Banking Federation welcomed renewed political engagement, particularly by the E6 group, to advance the Savings and Investments Union and strengthen EU capital markets, while calling for sustained ambition focused on simplification and practical outcomes. It identified three priorities: a proportionate Retail Investment Strategy Level 1 text that addresses implementation issues such as the Value for Money concept and the new Inducement Test, a Market Infrastructure Package that delivers a consolidated tape without constraining alternative trading mechanisms, and an EU simplification agenda that streamlines rules, reduces unnecessary burdens and limits national fragmentation and gold-plating.
Policy & regulationReform agendas & prioritiesMarket development
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2026-03-31•Europe•Single Resolution Board
The Single Resolution Board outlined a strategic shift with National Resolution Authorities from resolution planning to operational crisis readiness under the Single Resolution Mechanism Vision 2028, centred on resolution testing and crisis preparedness. The framework is built around simplified crisis policies and procedures, an operational toolkit and trained staff, supported by ready-to-use materials, National Handbooks, tools such as a bail-in calculator, valuation tool and Ready for Crisis platform, and multiannual “dry run” exercises. The Single Resolution Board plans to broaden these large-scale exercises and explore closer integration with bank-led testing to refine resolution methodologies.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2026-03-31•France•France Autorite des marches financiers
The France Autorité des marchés financiers has approved changes to the operating rules of the organised trading facility operated by Marex SA. The decision formalises various amendments to the platform’s rulebook.
SupervisionAuthorisations & approvalsTrading
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2026-03-31•France•France Autorite des marches financiers
France’s Autorité des marchés financiers published a synthesis of its SPOT inspections on compliance and internal control functions within portfolio management companies. The review, conducted on five firms as part of the European Securities and Markets Authority 2025 common supervisory action, follows the AMF’s 2020 SPOT campaign on outsourcing of internal control and was preceded by a questionnaire-based analysis of 41 companies.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-03-31•France•France Autorite des marches financiers
The France Autorité des marchés financiers published findings from SPOT thematic inspections on the organisation and effectiveness of compliance and internal control at portfolio management companies, conducted under its 2025 supervisory priorities and ESMA’s 2025 Common Supervisory Action. While all inspected firms had an identified compliance and internal control function, the AMF found uneven maturity of control plans, partial follow-up of recommendations, and deficiencies in the quality of regulatory data submitted, particularly in annual information forms, and set expectations for independent periodic control at larger and more complex firms.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-03-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has directed all Authorized Agent Banks to transition access to the Cash Service Alliance web application from Citrix to a Bangko Sentral ng Pilipinas Virtual Private Network platform, with cutover scheduled for 08 May 2026. Banks must complete VPN onboarding, configuration and testing, with non-compliance risking loss of system access and disruption to CSA-dependent processes.
Policy & regulationImplementation, projects & pilotsIT management
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2026-03-31•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has announced new appointments and reappointments to 11 committees and panels effective 1 April 2026, including advisory, disciplinary, compensation, listing and takeover bodies. Key changes include Keith Pogson becoming chairman of the Nominations Committee, Rico Leung Chung Yin continuing to chair the Investor Compensation Fund Committee and Securities Compensation Fund Committee with new members added, and refreshed membership across the Products Advisory Committee, Public Shareholders Group, Takeovers and Mergers Panel, Takeovers Appeal Committee and Share Registrars’ Disciplinary Committee.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-31•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission reported that Hong Kong’s securities industry net profits rose 62% year on year to a five-year high of HKD 71.7 billion in 2025, alongside a 52% increase in transaction value to HKD 219.0 trillion. Growth was broad-based, with strong gains in commission, advisory, underwriting and asset management income, and Stock Exchange of Hong Kong participants’ net profits up 62% to HKD 35.4 billion. Average collateral coverage improved to 4.5 times from 3.9 despite a 22% increase in margin loans.
Data & statistics
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2026-03-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines published updated International Investment Position data showing the country’s net external liability narrowed to USD 50.8 billion (10.4% of GDP) as of end-December 2025, from USD 52.1 billion (10.8% of GDP) at end-September 2025. The improvement reflects residents’ foreign financial assets rising 1.0% to USD 264.1 billion, outpacing a 0.4% increase in foreign investments in Philippine assets to USD 314.9 billion.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission filed a criminal complaint against Royal Kingdom of Maharlika, Royal Vanguard and 15 individuals for allegedly conducting an unauthorized and fraudulent investment scheme. The entities offered purported lifetime benefits of up to PHP 5 million despite lacking the secondary license required to solicit investments from the public.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityFraud and scamsSecurities offerings and listings
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2026-03-31•Philippines•Philippine Securities and Exchange Commission
The Makati Regional Trial Court denied GMA Network’s request to temporarily block the Philippine Securities and Exchange Commission’s nine-year cumulative term limit for independent directors. The court found no extreme urgency because GMA had postponed its annual stockholders’ meeting from May 20 to December 9. GMA’s petition seeking to invalidate the rule remains the underlying proceeding.
Policy & regulationRules & requirementsCorporate governanceCompliance
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2026-03-31•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission extended the 20% MSME corporate registration fee discount through Dec. 31, 2026. A separate 50% discount on eligible MSME securities registration fees remains in effect through June 30.
Policy & regulationRules & requirementsSME financingSecurities offerings and listingsMarket development
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2026-03-31•Europe•European Central Bank
The European Central Bank published the Eurosystem’s comprehensive payments strategy, outlining its vision for retail, wholesale, business-to-business and cross-border payments while reaffirming central bank money as the anchor of trust and stability. The framework focuses on preserving the role of central bank money, strengthening the robustness and autonomy of Europe’s payment system, promoting integrated and innovative payments, and supporting the international role of the euro, including keeping wholesale settlement centred on central bank money complemented by EU-governed, euro-denominated tokenised deposits and stablecoins. It consolidates key initiatives such as the digital euro, Pontes, Appia and cross-border enhancements, and work to maintain euro cash availability and develop new banknotes.
Policy & regulationReform agendas & prioritiesPayments and payment systemsTokenization
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2026-03-31•Europe•European Central Bank
The European Central Bank published analysis showing that digital-related investment has increasingly driven euro area business investment since 2020, with intangible assets such as software, databases and research and development accounting for around 80% of cumulative investment growth since late 2019. ECB proxy measures indicate euro area digital investment rose by just over 60% between 2014 and 2025, lagging a comparable United States proxy where digital investment more than doubled. The ECB expects the digital share of investment to keep rising, supported by venture capital, Next Generation EU funding and EU-wide AI initiatives, while highlighting constraints such as energy supply, skills shortages and overregulation.
ResearchMarket development
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2026-03-31•Europe•European Central Bank
The European Central Bank has outlined a Eurosystem payments strategy combining upgrades to existing infrastructures with new solutions across wholesale, corporate, retail and cross-border payments, anchored in central bank money to strengthen European autonomy, innovation and the euro’s international role. Key elements include an integrated market for tokenised settlement assets with tokenised central bank money, continued investment in T2 and DLT-compatible money via Pontes and Appia, enhanced digital euro and EU-governed wallets, and cross-border initiatives using TIPS and BIS Project Nexus. Pontes is due by end-Q3 2026 and digital euro issuance readiness in 2029, subject to regulation.
Policy & regulationReform agendas & priorities
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2026-03-31•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission is consulting on tighter external auditor accreditation rules and Group A coverage for corporations with government contracts reaching PHP 100 million individually or PHP 150 million in aggregate during a reporting year. The draft raises auditor experience requirements, strengthens denial and enforcement grounds, and limits repeated conditional accreditation. Comments are due by May 15, 2026.
Policy & regulationRules & requirementsAuditingAccounting and financial reportingCompliance
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2026-03-31•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board’s 2025 Annual Report confirms completion of its disclosures project and the shift to firm-specific public inspection reports for audits of Canadian reporting issuers. CPAB reported significant inspection findings in 23% of 120 files reviewed, continued issuer- and enforcement-related disclosures, and noted 20 enforcement actions, four financial statement restatements and one denial of access to component auditor working papers in China. The report also highlights 2026 decisions on regulatory interventions and a leadership transition from CEO Carol Paradine to Sonny Randhawa in March 2026.
SupervisionReviews, inspections & stress testsRegulatory reportingSupervisory data
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2026-03-31•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board’s 2025 annual report details inspection results and progress on expanded public disclosures, including public, firm-specific inspection reporting. CPAB inspected 120 audit files and found significant findings in 23% of cases, down from 24% in 2024 and 34% in 2023, with improvements at many smaller firms. It also launched a Regulatory Reporting webpage for expanded disclosures and firm-specific reports. The report notes growing use of artificial intelligence-enabled tools in audits and stresses the need to manage related risks and adopt responsible, effective practices.
SupervisionReviews, inspections & stress testsAuditing
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2026-03-31•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board has published its 2025 regulatory report on inspections of audit firms for Canadian reporting issuers and announced expanded public disclosures, including publication of individual firm inspection results. CPAB reported significant findings in 27 of 120 files (23%), with higher findings rates at non-annually inspected firms and recurring issues in risk assessment, audit evidence, accounting estimates and use of technology, as well as constraints in cross-border inspections involving China. Twenty firms were subject to enforcement actions, with CPAB signalling potential easing or escalation of certain interventions in 2026.
SupervisionReviews, inspections & stress testsAuditing
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2026-03-31•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
The Australian Transaction Reports and Analysis Centre has opened online enrolment for lawyers, accountants, conveyancers, real estate professionals, and dealers in precious stones and metals ahead of their inclusion in the anti-money laundering and counter-terrorism financing regime from 1 July 2026, expanding coverage to nearly 100,000 businesses. Newly covered entities must implement AML/CTF programs, conduct customer due diligence, report suspicious matters, and keep records, while those offering remittance or virtual asset services must also apply for registration. AUSTRAC has updated enrolment requirements for existing reporting entities, requiring additional information and new forms on the AUSTRAC Online platform.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2026-03-31•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
The Australian Transaction Reports and Analysis Centre announced that Australia’s expanded anti-money laundering and counter-terrorism financing regime now brings a broader range of crypto and other virtual asset businesses under supervision, with digital currency exchange providers renamed virtual asset service providers, all required to register with AUSTRAC and comply with AML/CTF obligations. The reforms aim to close gaps exploited to move illicit funds and align Australia with global standards, and AUSTRAC has cleaned up the former register, removed inactive entities, launched a searchable public virtual asset service provider register, and continues to treat the sector as a priority high money-laundering risk.
Policy & regulationRules & requirementsAML and CFT
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2026-03-31•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission collected PHP 87.72 million in fines and penalties in 2025, an increase of 86.21% from 2024. Insurance industry assets rose 7.93%, while premium collections and product sales surpassed PHP 502 billion.
EnforcementEnforcement statisticsActivity and performance reportingCompliance
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2026-03-31•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 three individuals for senior roles in the insurance sector, including executive and board positions. It also clarified that, subject to qualification requirements under the Law on Insurance Activities, individuals with existing regulatory consent may be transferred within the sector to similar senior roles without additional consent, with such consents recorded in the insurance sector register.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2026-03-31•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 detailed the “Stop-credit” service, which allows individuals to block bank loans and microcredits in their name via the eGov portal and eGov Mobile, creating a refusal flag in their credit history that should lead lenders to reject new applications, with any loan issued in breach subject to write-off; the restriction excludes pawnshops and other entities that do not use credit bureaus, and as of 16 March 2026, 5.1 million citizens had activated it.
Policy & regulationImplementation, projects & pilotsLending
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2026-03-31•Andorra•Andorran Financial Authority
The Andorran Financial Authority published Technical Communication No. 1/2026-SF on the countercyclical capital buffer for the second quarter of 2026. The communication provides a solvency and macroprudential update for banks and other regulated financial entities.
Policy & regulationGuidance & interpretationMacroprudential policy and toolsPrudential risks
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2026-03-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission reported that Mecca Brands Pty Ltd, Mecca Brands NZ Pty Ltd and RTCH Pty Ltd have each paid an AUD 198,000 infringement notice, totalling AUD 594,000, for allegedly failing to lodge their audited financial reports for the year ended 28 December 2024 on time. ASIC framed the action within its 2026 enforcement priority on financial reporting misconduct and a data-driven surveillance program targeting non-lodgement and persistent late lodgement, and reminded directors and auditors of their obligations to report non-compliance.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-03-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has remade its relief instrument for foreign Australian financial services licensees and foreign authorised deposit-taking institutions, replacing ASIC Corporations (Foreign Licensees and ADIs) Instrument 2016/186 and extending its effect to 1 April 2031. The new ASIC Corporations (Foreign Licensees and ADIs) Instrument 2026/121 maintains exemptions from certain record-keeping and financial reporting obligations for foreign licensees and from Australian financial services licensing for foreign authorised deposit-taking institutions, while the ASIC Corporations (Licence Conditions—Treatment of Lease Assets) Instrument 2021/229 is extended to 1 May 2031.
Policy & regulationRules & requirementsOther
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2026-03-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has remade two legislative instruments providing technical relief for Australian financial services licensees and updating reverse-mortgage disclosure for Australian credit licensees, both effective until 1 April 2031. ASIC Corporations (Miscellaneous Technical Relief) Instrument 2026/115 extends exemptions from holding an Australian financial services licence and adjusts rules on lodging or publishing supplementary or replacement documents, while ASIC Credit (Updated details for prescribed disclosure) Instrument 2026/122 updates the reverse mortgage information statement by removing a reference to the National Information Centre on Retirement Investments.
Policy & regulationRules & requirementsRegulatory burden
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2026-03-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has released the February 2026 Monthly Authorised Deposit-taking Institution Statistics, including updated bank-level data, a back-series from March 2019 to February 2026, and the MADIS glossary. APRA also reiterates that earlier balance sheet data are available in the Monthly Banking Statistics and Australian Banking Statistics, noting a series break in March 2002 due to changes in reporting requirements and coverage.
Data & statisticsSupervisory data
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2026-03-31•Colombia•Central Bank of Colombia
Banco de la República lifted its policy rate by 100 bp to 11.25 %, following January’s similar move, to counter rising headline (5.4 % y/y in February) and core (5.5 %) inflation, stubborn expectations (6.3–7 %) and weaker-than-forecast 2025 growth. The board also warned that Iran-related commodity shocks could add price pressure and said further action will depend on data to secure a clear disinflation path.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-31•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service published preliminary end-December 2025 capital and leverage ratios for domestic banks and bank holding companies, showing modest quarter-on-quarter declines but levels remaining comfortably above Basel Committee minimum requirements. Average common equity Tier 1, Tier 1, total capital and leverage ratios for both banks and bank holding companies stayed well in excess of these thresholds. The Financial Supervisory Service said it will continue to guide banks to strengthen loss-absorbing capacity and closely monitor capital ratios.
SupervisionRegulatory reportingFinancial and market indicators
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2026-03-31•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported that total corporate fund-raising via debt and equity reached KRW19.2497 trillion in February 2026, up 8.5% month-on-month, while commercial paper and short-term bond issuance rose 3.1% to KRW159.5722 trillion. Equity issuance more than tripled to KRW341.5 billion on the back of three initial public offerings and four public equity offerings, while debt issuance increased to KRW18.9082 trillion, driven by higher financial debentures despite lower corporate bond and asset-backed securities volumes.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste's first-quarter 2026 Petroleum Fund report shows the fund balance fell to USD 18.31 billion from USD 18.61 billion in the previous quarter. Gross investment income was negative USD 97.72 million and the portfolio returned negative 0.62%, while withdrawals totaled USD 204.18 million, including USD 200 million for the state budget.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Brazil•Central Bank of Brazil
The Central Bank of Brazil released updated Fiscal Statistics data covering figures through February 2026. The publication provides the latest official fiscal data snapshot for the period.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Australia•Reserve Bank of Australia
The Reserve Bank of Australia has finalised a reform package from its Review of Merchant Card Payment Costs and Surcharging, confirming lower interchange fee caps and stronger fee transparency requirements for designated eftpos, Mastercard and Visa card networks. The Reserve Bank of Australia expects the measures to reduce payment acceptance costs, particularly for small businesses, and to promote competition and efficiency. It also plans a separate consultation in mid-2026 on potential regulation of other retail payment services, including mobile wallets, three-party card networks, buy-now pay-later services and e-commerce platforms.
Policy & regulationRules & requirementsPayments and payment systems
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2026-03-31•Australia•Reserve Bank of Australia
The Reserve Bank of Australia published its February 2026 financial aggregates, reporting total credit growth of 0.6% over the month and 7.8% over the year, and broad money growth of 0.8% in February and 7.7% over the year. Housing credit rose 0.6% in February and 7.1% over the year, personal credit increased 0.4% over the month and 4.3% over the year, and business credit to non-financial businesses grew 0.8% in February and 9.5% over the year. Growth rates are seasonally adjusted, and revised historical data reflect resubmissions, re-estimated seasonal factors and securitisation data.
Data & statisticsMonetary data
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2026-03-31•Bolivia•Ministry of Finance (Bolivia)
Bolivia’s Ministry of Finance has appointed Jorge Marcelo Velasco Tudela as chair of Banco de Desarrollo Productivo, aligning the leadership change with the government’s strategy to strengthen the bank’s role in inclusive growth and productive transformation. Velasco pledged to expand access to productive financing, promote innovation and support economic diversification, while the ministry reiterated BDP’s mandate to back sustainable development through financing, technical assistance and “productive intelligence” for key sectors.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-31•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has granted a class exemption to provide a faster, more cost-effective route to market for issuers of green, social, sustainability or sustainability-linked bonds. The exemption allows offers of bonds identical to existing quoted bonds, except for interest rate, redemption date and GSSS status, without a product disclosure statement, subject to conditions including provision of information on the bond’s GSSS status, which may be delivered via a shorter terms sheet.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-03-31•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) published its 2025 Management Report outlining key initiatives to simplify rules and broaden access to capital markets, including the FÁCIL regime for smaller issuers, streamlined debenture issuance, and modernisation of Administrative Sanctioning Proceedings under CVM Resolution 45. The report details adjustments and deferrals to multiple resolutions, consultations on crowdfunding, disclosure, rating agencies and fund regimes, and analytical work on ESG disclosure, suitability and governance. CVM also reported a record 92,818 regulated participants at end-2025 and increased staffing in Rio de Janeiro and São Paulo.
Policy & regulationRules & requirementsMarket development
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2026-03-31•United States•Federal Reserve Board
The Federal Reserve Board published a speech by Vice Chair for Supervision Michelle W. Bowman outlining how recently proposed capital rule changes are intended to support small business credit amid tight lending conditions. She highlighted proposed reductions in standardized corporate and small business loan risk weights, revised capital treatment for small business credit cards, and a request for comment on the treatment of unused credit lines, encouraging stakeholder feedback on the potential impact on lending.
Policy & regulationRules & requirementsSME financing
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2026-03-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines published preliminary data showing loans from universal and commercial banks rose by 9.5% year on year in February, with seasonally adjusted outstanding loans up 0.8% month on month. Resident lending grew by 10.1% while non-resident loans declined by 13.2%, driven by an 8.6% expansion in business loans and 20.8% growth in consumer loans amid strong credit to utilities, transport, real estate, trade and household borrowing.
Data & statisticsFinancial and market indicatorsMonetary data
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2026-03-31•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported that domestic liquidity (M3) grew 10.3% year on year to PHP 19.8 trillion in February, with seasonally adjusted M3 up 1.2% month on month. Growth was driven by an 11.0% increase in claims on the domestic sector, including higher lending to the private sector and increased net claims on the central government, while net foreign assets rose 7.4%. The central bank said it will continue managing liquidity conditions consistent with its price and financial stability objectives.
Data & statisticsMonetary data
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2026-03-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has released private health insurance risk equalisation statistics for the 2024–25 financial year, detailing the net risk equalisation result for each insurer. The data are available as a downloadable spreadsheet on the authority’s website.
Data & statisticsSupervisory data
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2026-03-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has issued a consultation on remaking its Level 3 conglomerate prudential standards, which are due to sunset on 1 October 2026. APRA proposes to remake Prudential Standards 3PS 221, 3PS 222 and 3PS 310 with minor amendments to keep them current, without introducing new requirements for Level 3 conglomerate groups.
Policy & regulationRules & requirementsPrudential risks
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2026-03-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has finalised amendments to its prudential standards on the capital treatment of longevity products, introducing an option for insurers to use an Advanced Illiquidity Premium in capital calculations with additional prudential safeguards. The package adds governance, reporting and asset composition risk controls for portfolios using the Advanced Illiquidity Premium and is intended to deliver a more risk-sensitive, principles-based and less procyclical capital framework aligned with long-dated retirement income liabilities.
Policy & regulationRules & requirementsCapital adequacy