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2026-03-25•Global•International Monetary Fund
The IMF's Executive Board completed its Article IV consultation for the Slovak Republic, endorsing efforts to restore fiscal sustainability and advance reforms amid slowed growth and elevated inflation. Growth projections are modest, with 0.9% in 2026 and 1.8% in 2027, while inflation is expected to remain high at 3.4% in 2026. The Board emphasized the need for continued financial sector vigilance, macroprudential measures, and structural reforms to enhance growth potential.
Policy & regulationGuidance & interpretationEconomic data and developments
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2026-03-25•United Kingdom•Open Banking Limited
Open Banking Limited's Chair, Marion King, highlighted the evolution of UK open banking from a competition remedy to an innovation-driven model at Pay360 2026, emphasizing its economic impact and future priorities. The EY analysis projects significant economic benefits, with potential long-term annual gains of up to £43 billion. King also discussed progress on commercial Variable Recurring Payments and upcoming publications on AI's interaction with the Open Banking Standard.
Policy & regulationReform agendas & prioritiesOpen banking and finance
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2026-03-25•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) released its third survey on Portugal's health insurance market, revealing stable coverage patterns and satisfaction levels since 2024. Coverage was highest for private emergency and general medicine, while dental services had the lowest coverage despite high usage. The survey highlighted that difficulty accessing National Health Service care remains a key driver for purchasing health insurance.
ResearchConsumer and investor protection
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2026-03-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued decisions on rulemaking, supervision, and licensing, including new procedures for inspections and investigations in capital and commodity markets. Key actions include a draft regulation on insider information disclosure, securities issuance registrations, and approvals of key function holders. The Commission also addressed amendments to existing regulations, registration of non-public issuances, and various appointments in compliance and risk management roles.
Policy & regulationRules & requirementsOther
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2026-03-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market participated in a training on investigating financial crimes involving virtual assets. The programme, supported by the UK Government, included blockchain analysis, crypto wallet operations, and digital forensics, using Crystal Blockchain software to trace cryptocurrency transactions.
Institutional developmentCooperation & capacity buildingCyber resilience
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2026-03-25•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS has amended its consolidated supervision regulation for financial and mixed conglomerates to align with operational concentration limits. The amendments update definitions and set group-level financing exposure limits based on Tier 1 effective capital, capping related party financing at 25% for financial groups and 30% for insurance conglomerates. Total financing to a counterparty or connected counterparties is limited to 25% of the group's Tier 1 effective capital.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2026-03-25•Philippines•Central Bank of the Philippines
Bangko Sentral ng Pilipinas left the target reverse repurchase rate at 4.25 % on 25 March, pausing after 150 bp of cumulative cuts since April 2025 amid fragile growth and supply-driven inflation from Middle East conflict-related commodity shocks. The Board expects headline inflation to breach the 4 % ceiling in 2026 before easing in 2027 and pledged vigilance against second-round effects.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning regarding alleged unauthorised virtual asset activity linked to www.poloniex.com, operated by Polo Digital Assets Ltd, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. Polo Digital Assets Ltd was dissolved as of 1 January 2022 and is no longer a legal entity. The FSA advises consumers to verify the licensing status of virtual asset service providers and report any suspected unauthorised activity.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-03-25•Albania•Bank of Albania
Bank of Albania held the policy rate at 2.5 percent, with overnight deposit and lending facility rates unchanged at 1.5 percent and 3.5 percent, judging the stance adequate to sustain growth and return inflation to the 3 percent target by 2026. The Supervisory Council flagged surging oil prices tied to Middle-East tensions as a primary external risk and said it will respond swiftly if supply shocks threaten price stability.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•United States•Federal Reserve Bank of Cleveland
The Federal Reserve System released its 2025 annual financial statements for all 12 Federal Reserve Banks and the Board of Governors. The Federal Reserve Bank of Cleveland also published its statements and provided access to previous reports on its Annual Reports page.
Data & statisticsActivity and performance reporting
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2026-03-25•Global•International Monetary Fund
The International Monetary Fund (IMF) released an end-of-visit statement by Krishna Srinivasan, Director for the Asia Pacific Department, after a staff visit to Dhaka. The statement highlights discussions with senior policymakers on the need for ambitious policies and structural reforms to ensure macro-financial stability and inclusive growth. The IMF expressed readiness to assist Bangladesh and will continue dialogue during the IMF-World Bank Spring Meetings.
Policy & regulationGuidance & interpretationOther
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2026-03-25•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary emphasized the link between domestic food production investment and Hungary's economic sovereignty and stability. He noted inflation returned to the tolerance band at 1.4% in February, the forint strengthened against the euro, and foreign exchange reserves reached nearly HUF 60 billion, supporting financial market stability. Varga highlighted the completion of a new mill and hulling plant, enhancing local agricultural processing capacity.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2026-03-25•Hungary•National Bank of Hungary
The National Bank of Hungary is transferring its fine art collection to museums for public display as part of a review to focus on its core mandate and rationalize resource use. Governor Mihály Varga announced that artworks will be accessible at one museum in Budapest and 29 museums outside the city. The MNB has already loaned pieces to museums in Budapest, Debrecen, Székesfehérvár, and Karcag.
Institutional developmentCooperation & capacity buildingMandate change
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2026-03-25•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission published three anonymized enforcement decisions involving investment firm, audit and AML/CFT breaches. The sanctions included a formal reprimand and fines totaling EUR 25,000.
EnforcementInvestigations & enforcement actionsAuditingAML and CFT
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2026-03-25•Czech Republic•Czech National Bank
The Czech National Bank (CNB) sold its Plzeň building to V.D.O. Group s.r.o. for CZK 102.5 million as part of its strategy to manage its property portfolio and enhance digital client services. The sale, brokered by Cushman & Wakefield, followed a sealed-bid process and marks the CNB's exit from the property, which had not been used for cash processing since 2014. The CNB is also in the process of selling its building in Ústí nad Labem.
Institutional developmentOtherProcurement
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2026-03-25•Europe•European Central Bank
The European Central Bank's working paper examines how digital-only banks in the euro area transmit monetary policy compared to traditional banks. The study finds that digital banks adjust retail funding rates more swiftly during tightening cycles, leading to margin compression and slower lending growth, while loan-rate pass-through remains similar. The paper also highlights supervisory considerations due to the rate sensitivity of retail funding and the need for scenario and stress-testing frameworks to account for asymmetries in policy cycles.
Research
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2026-03-25•Europe•European Central Bank
The European Central Bank's Working Paper No 3205 examines the euro-denominated repo market's resilience during financial stress, using transaction-level data and network methods. The study finds that from 2021 to mid-February 2025, the market remained stable, with stress linked to lower repo spreads rather than reduced activity. The analysis reveals a core–periphery network structure, with increased bank-to-bank linkages driving connectivity during stress periods.
ResearchMarket infrastructure
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2026-03-25•Macao•Monetary Authority of Macao
The Monetary Authority of Macao joined the first joint meeting of financial supervisors from Guangdong, Hong Kong, Macao and Shenzhen to strengthen cooperation and support high-quality development of banking and insurance while safeguarding financial consumer rights. Discussions covered banking support for the Greater Bay Area International Innovation and Technology Centre, oversight of artificial intelligence and its safe application, the insurance sector’s role in urban governance and cross-border healthcare, and consumer protection.
SupervisionCooperationCross-border cooperation
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2026-03-25•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released findings from its Access to Financial Advice Review, highlighting barriers such as affordability and awareness, particularly affecting lower socio-economic and ethnic groups. The review identified structural and operational constraints in the sector and opportunities in technology-enabled advice models. The FMA plans further engagement with stakeholders and a thematic review of AI use in financial advice.
Policy & regulationReform agendas & prioritiesConsumer and investor protectionFinancial literacy and education
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2026-03-25•Spain•Bank of Spain
The Bank of Spain's Deputy Governor Soledad Núñez emphasized climate change as a critical factor influencing economic and financial conditions during a conference in Madrid. She highlighted the rising physical and transition risks, stressing the need for reliable climate data and improved risk assessment methodologies. Núñez also called for integrating climate considerations into central bank portfolio management to enhance financial-system resilience.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has postponed the applicability of intraday borrowing guidelines for mutual funds to 15 July 2026, addressing operational challenges raised by asset management companies. This deferral pertains to clause 4 of the 13 March 2026 circular, now incorporated as clause 5.9.1 of the SEBI Master Circular for Mutual Funds. The addendum was issued under section 11(1) of the SEBI Act, 1992, and regulation 77 of the SEBI (Mutual Funds) Regulations, 1996.
Policy & regulationRules & requirementsLending
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2026-03-25•India•Securities & Exchange Board of India
SEBI amended its Master Circular for Investment Advisers, allowing members of the Institute of Cost Accountants of India to conduct annual audits for SEBI compliance. These audits, due within six months of the financial year-end, can also be conducted by members of the Institute of Chartered Accountants of India or the Institute of Company Secretaries of India. SEBI also updated record-keeping requirements for compliance with client-level segregation under Regulation 22.
Policy & regulationRules & requirementsAuditing
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) amended its Master Circular for Research Analysts to include members of the Institute of Cost Accountants of India as eligible to conduct the annual compliance audit. The audit, verifying compliance with SEBI regulations, can now be performed by members of three professional institutes and must be completed within six months of the financial year-end. Research Analysts must publish the audit status on their websites and disclose any adverse findings.
Policy & regulationGuidance & interpretationAuditing
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2026-03-25•Laos•Bank of the Lao
The Bank of the Lao PDR reported on a meeting with the International Monetary Fund Capacity Development Office in Thailand to review progress on CDOT-supported technical assistance and plan upcoming work. CDOT introduced two new experts to support external sector statistics and monetary policy implementation, and both sides discussed preparations for the Bank of the Lao PDR to chair and co-host the 12th CDOT Advisory Committee Meeting in May 2026.
Policy & regulationCooperationOther
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2026-03-25•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported February 2026 estimates for core inflation at 4.19% and services sector inflation at 4.73%, based on consumer price index data. Despite strong domestic inflationary pressures, both inflation measures remain nearly unchanged, with core inflation 69 basis points higher than the December nowcast due to changes in statistical weightings. Both core and services inflation are slightly weaker compared to the previous year's levels.
Data & statisticsEconomic data and developments
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2026-03-25•Estonia•Central Bank of Estonia
The Supervisory Board of the Central Bank of Estonia approved the transfer of EUR 6.8 million, a quarter of last year's profit, to the state budget and endorsed the bank’s annual report. The board emphasized a long-term strategy to build capital reserves to align with the euro area central bank average. Additionally, the Governor and Deputy Governor provided updates on the euro area economy and the upcoming economic forecast.
Institutional developmentGovernance
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2026-03-25•Estonia•Central Bank of Estonia
The Central Bank of Estonia's Supervisory Board appointed Martti Randveer as Deputy Governor for a five-year term starting 7 June, coinciding with Ülo Kaasik's transition to Governor. The Executive Board will include Governor Kaasik and Deputy Governors Randveer and Andrus Alber. Randveer, with the central bank since 1996, has led the Economics and Research Department since 2011.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-25•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka kept the Overnight Policy Rate unchanged at 7.75% in its March 2026 review, saying low inflation provides room to absorb a significant domestic energy price increase linked to higher global energy prices and trade disruptions amid the Middle East conflict. It now expects inflation to reach the 5% target in Q2 2026 earlier than previously anticipated and remain around that level, while noting strong early-2026 economic recovery and a robust external sector despite elevated geopolitical uncertainty.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has recognised India International Bullion Exchange (IFSC) Limited to operate in GIFT IFSC as both a Bullion Exchange and a Bullion Clearing Corporation, and has granted the clearing corporation Qualifying Central Counterparty status. IIBX is designated as a Market Infrastructure Institution under the Securities Contracts (Regulation) Act, the IFSCA Act and the IFSCA (Bullion Market) Regulations, 2025, and is subject to PFMI-based supervision.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-03-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has issued a market alert through its Market and Intermediaries Relations Superintendence, ordering the immediate suspension of public offers of securities intermediation services by SUN WAVE LLC. The firm, using brands such as Veloc Broker, Nyrion Broker, and Mundial Broker, was found soliciting Brazilian residents without CVM authorization. The suspension was enacted via CVM Declaratory Act 24.976.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-03-25•Russia•Central Bank of Russia
The Central Bank of Russia has revised income verification standards for banks and microfinance organizations (MFOs) when calculating the debt service-to-income ratio (DSTI), effective 1 April 2026. Under Ordinance No. 7286-U, stricter documentation is required, with account statements only confirming specific income types and additional documents needed for other receipts. The simplified income declaration approach will be phased out by 1 July 2027, transitioning to confirmed income only.
Policy & regulationRules & requirementsLending
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2026-03-25•Russia•Central Bank of Russia
The Central Bank of Russia advised credit institutions to inform customers about transaction and remote service suspensions under cybersecurity and anti-money laundering rules. Banks should provide clear instructions for resolution, even if online banking access is suspended. If restrictions persist, banks must explain contestation procedures and guide customers listed in the regulator’s fraudulent transactions database on removal processes.
Policy & regulationGuidance & interpretationCyber resilienceAML and CFT
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2026-03-25•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) fined Familiam Asset Management Oy EUR 70,000 for failing to report 2,867 transactions on time and for delays in quarterly supervisory reporting under FINREP and IF frameworks. The omissions occurred between September 2021 and August 2023, with reporting delays in 2024 ranging from four days to two weeks. The penalty reflects the nature and duration of the omissions, with the firm's cooperation considered a mitigating factor; the decision is not legally binding and may be appealed.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-03-25•Canada•Payments Canada
Payments Canada outlined how its forthcoming Real-Time Rail (RTR) will modernize Canada’s payments infrastructure with always-on instant payments, ISO 20022-based rich data, embedded fraud controls and a roadmap for global interoperability. The commentary highlighted legislative changes in 2025 expanding Payments Canada membership to payment service providers, credit union locals and designated clearing houses, with eligible payment service providers potentially gaining direct RTR access.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsMarket development
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2026-03-25•South Korea•Bank of Korea
The Bank of Korea reported that its March 2026 Composite Consumer Sentiment Index fell 5.1 points from February to 107.0, reflecting weaker views on current and future domestic economic conditions and living standards. Expected household income eased while expected household spending was unchanged, and inflation expectations stood at 2.7% one year ahead, 2.6% three years ahead, and 2.5% five years ahead.
Data & statisticsEconomic data and developments
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2026-03-25•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission secured an interim injunction from the Court of First Instance against four individuals suspected of manipulating KNT Holdings Limited shares, freezing assets up to HKD 219 million. The injunction aims to preserve funds for potential compensation to affected investors and is part of broader enforcement related to a ramp-and-dump scheme. Three suspects face related criminal proceedings, with a trial set for April 2027, while the fourth is subject to an arrest warrant.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-03-25•Hong Kong•Hong Kong Securities & Futures Commission
Hong Kong Securities and Futures Commission announced the re-appointment of its CEO, Julia Leung, as Chair of the International Organization of Securities Commissions’ Asia-Pacific Regional Committee for a second two-year term starting May 2026. Leung's priorities include addressing online investment scams, digital assets, market developments, and cross-border cooperation. IOSCO regulates over 95% of global securities markets across more than 130 jurisdictions.
Institutional developmentLeadership change & appointmentsCross-border cooperation
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2026-03-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a 2.65% increase in Fixed Pay for its staff, with 1.35% allocated for high performers, following the 2026 annual pay review. Staff will also receive Variable Pay amounting to 20.04% of Total Pay based on 2025 performance. The adjustments were approved by the Financial Secretary, considering recommendations from the Governance Sub-Committee and sector pay surveys.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2026-03-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported on the first Guangdong-Hong Kong-Macao-Shenzhen Joint Financial Regulatory Meeting, aimed at enhancing cross-jurisdictional cooperation in banking and insurance sector development, financial market stability, and consumer protection. Hosted by the National Financial Regulatory Administration Guangdong Office, the meeting addressed industry developments, regulatory oversight of AI in banking, and cross-boundary medical insurance services.
Policy & regulationCooperationCross-border cooperation
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2026-03-25•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee assessed the financial system as stable, maintaining the countercyclical capital buffer at 2.5%. Systemically important banks have strong financial positions, but external risks from the Persian Gulf conflict are noted. Domestically, resilience is supported by tight capital requirements and low private sector debt, though construction sector debt has risen, prompting lenders to monitor risks.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2026-03-25•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Report 2026/1 maintains the countercyclical capital buffer rate at 2.5%, amid global uncertainties like geopolitical risks and surging commodity prices. Domestically, Iceland shows resilience with low government debt and strong external positions, though vulnerabilities persist in tourism and construction sectors. The report also details efforts to enhance financial infrastructure resilience, including a new incident centre and reorganisation of the operational security forum.
Research
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2026-03-25•France•France Autorite des marches financiers
The France Autorité des Marchés Financiers released issue 21 of its Active Retail Investors Dashboard, monitoring quarterly changes in individual transaction activity in financial instruments.
Data & statisticsOther
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2026-03-25•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) released an updated quarterly dashboard on retail stock market investors, highlighting unprecedented activity in 2025 with nearly 2.5 million French individuals trading equities. Retail share transactions rose to 56 million, with 26% executed via EU providers outside France. ETF trading also surged, with over 1.1 million investors participating, doubling transactions to 14.4 million, and 47% conducted through EU providers outside France.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-25•Denmark•National Bank of Denmark
The National Bank of Denmark reported that Danish listed companies' share repurchases totaled DKK 47 billion in 2025, marking the lowest annual level since 2020. While buybacks were previously concentrated among a few large firms, they were more widely distributed across companies in 2024 and 2025. The statistics are based on net transactions and end-of-month prices, with some data limitations noted.
Data & statisticsFinancial and market indicators
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2026-03-25•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses (EACH) released a position paper on the EU's Market Integration and Supervision Package, supporting its single market goals while suggesting changes for effective CCP oversight. EACH advocates for ESMA's exclusive decision-making power over significant CCPs, streamlined NCA-ESMA cooperation for less significant CCPs, and cost-effective ESMA fees. It also calls for simplified reporting, outsourcing, legal clarity for CCP DLT use, and highlights the need for a global competitiveness objective in ESMA's mandate.
Policy & regulationReform agendas & prioritiesCCPs
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2026-03-25•Europe•European Central Bank - Banking Supervision
Anneli Tuominen of the European Central Bank Banking Supervision highlighted supervisory priorities, including a reverse stress test on geopolitical risks and a thematic review of banks' credit underwriting practices. She noted European banks' strengthened positions, citing improvements in the Common Equity Tier 1 ratio and non-performing loans, while emphasizing operational resilience amid rising cyberattacks. Concerns were raised about commercial real estate, particularly in Austria, with issues in collateral valuations and interest-only loans.
SupervisionSupervision approach, priorities & toolkitCapital adequacyAsset qualityPrudential risks
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2026-03-25•Europe•European Central Bank
ECB President Christine Lagarde detailed the ECB's strategy to tackle the energy shock from the war in Iran, stressing a flexible policy approach based on the shock's nature rather than fixed rate paths. She noted that while energy shock pass-through is historically rare in the euro area, vigilance is needed due to potential global oil supply disruptions and inflationary pressures. ECB staff have released scenarios showing varying inflation impacts, with the ECB ready to adjust policy as needed based on evolving evidence.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2026-03-25•Georgia•National Bank of Georgia
The National Bank of Georgia kept its refinancing rate at 8.0 % at the 25 March MPC meeting, warning that Middle-East tensions and Hormuz-linked energy and shipping shocks have pushed the economy into a high-inflation-risk scenario. While February CPI eased to 4.6 %, the bank now expects short-term inflation to overshoot before returning to the 3 % target from Q2 2026 and said it will keep policy tight or raise rates if second-round effects arise.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•Georgia•Ministry of Finance (Georgia)
The Ministry of Finance of Georgia announced the start of an International Monetary Fund Article IV consultation mission to assess the macroeconomic environment and the direction of fiscal and monetary policies. The mission, led by Alejandro Hajdenberg, met Finance Minister Lasha Khutsishvili to review IMF cooperation, discuss current macroeconomic indicators and medium-term forecasts, and address the 2026 Eurobond refinancing and international investor participation.
Policy & regulationCooperationEconomic data and developmentsMonetary policy decisions and developments
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2026-03-25•Guatemala•Bank of Guatemala
Bank of Guatemala’s Monetary Board kept the leading rate at 3.50 %, pausing after four 25 bp cuts since Aug 2025, as growth remains solid and February inflation stayed below the 3–5 % target range. The Board flagged potential imported price pressures from higher oil amid Middle East tensions and reiterated readiness to adjust policy if needed.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India has issued special measures for the 2025-26 financial year, advising insurers to keep branches open during normal working hours on 31 March 2026 to avoid hardship to policyholders. Insurers have been asked to note the arrangement and provide adequate publicity.
Policy & regulationGuidance & interpretationOther
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2026-03-25•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported that domestic banks’ substandard or below loan ratio was stable at 0.57% in December 2025, with balances rising to KRW 16.6 trillion and provisioning and coverage indicators weakening. Total provisions for bad debts fell to KRW 26.7 trillion, reducing the non-performing loan coverage ratio to 160.3%, while new substandard or below loans of KRW 5.9 trillion were broadly offset by KRW 5.7 trillion in resolutions in the fourth quarter of 2025.
Data & statisticsAsset quality
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2026-03-25•South Korea•South Korea Financial Supervisory Service
The Financial Supervisory Service held its FSS SPEAKS 2026 forum with foreign financial companies, outlining a shift toward consumer-centred supervision as its core value for 2026. Key priorities include a comprehensive risk-focused supervisory framework, overhauled dispute settlement standards, tighter oversight of debt and capital markets, expanded consumer-protection measures, and strengthened IT risk management. The authority will incorporate foreign firms’ feedback into its supervisory work and maintain regular market communication.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protectionDomestic cooperation
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India and the Investor Education and Protection Fund Authority will host the sixth Niveshak Shivir in Bhubaneswar on March 27, 2026. The event aims to facilitate the transfer of unpaid dividends, assist with KYC and nomination updates, and resolve pending claims related to unclaimed shares and dividends. Participants include major market infrastructure institutions and registrar and transfer agents.
Financial literacy & educationConsumer and investor protection
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2026-03-25•Indonesia•OJK
Indonesia’s Financial Services Authority (OJK) reaffirmed that the banking sector remains solid with positive growth, despite Moody’s and Fitch revising the outlook on major Indonesian banks, including Himbara, to negative after the sovereign outlook change. OJK cited January 2026 credit growth of 9.96% year on year, deposit growth of 13.48%, non-performing loans of 2.14%, strong capital and liquidity ratios, and predominantly domestic deposit-based funding, and called the outlook changes potentially temporary while pledging continued close supervision and coordination with Financial System Stability Committee stakeholders.
SupervisionRisk monitoring & watch pointsFinancial and market indicatorsSupervision process and methodologies
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2026-03-25•Indonesia•OJK
Indonesia’s Financial Services Authority (OJK) confirmed the swearing-in of seven Board of Commissioners members before the Chief Justice of the Supreme Court, formalising their appointments under a presidential decree and enabling them to exercise OJK’s statutory powers. The new line-up, including Chair Friderica Widyasari Dewi and commissioners responsible for capital markets, market conduct and financial sector technology innovation, was confirmed by the House of Representatives following fit-and-proper tests, with two ex officio members from the Ministry of Finance and Bank Indonesia. OJK reiterated its focus on integrated supervision, market deepening, consumer protection and strengthened law enforcement.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-25•Russia•Central Bank of Russia
The Central Bank of Russia's February 2026 review indicates moderate growth in corporate lending, with a 0.6% rise following a January decline, while household mortgage expansion slowed significantly due to changes in the Family Mortgage programme. Consumer lending contracted by 0.7%, and credit card utilisation decreased compared to January. Household and corporate funds with banks increased by 1.9% and 2.7%, respectively, reflecting seasonal and tax-related factors.
ResearchFinancial and market indicatorsMonetary data
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2026-03-25•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority has approved licensing requirements for underwriting activities by insurance companies and managing general agencies. Licensees must maintain at least SAR 1 million in capital and SAR 3 million in professional liability insurance, alongside qualified staff and appropriate governance, compliance and risk management arrangements.
Policy & regulationRules & requirementsCorporate governanceComplianceRisk management
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2026-03-25•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority released its 2025 supervisory report, highlighting reduced inspections due to Denmark's EU Presidency but increased case processing. Key figures include 121 inspections initiated and 155 completed, with improved timeliness and 14,697 cases handled. The report covers supervision across various sectors and anticipates increased activity in 2026.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2026-03-25•China•China Banking and Insurance Regulatory Commission
Li Yunze, Director of China's National Financial Regulatory Administration, met with HSBC Group CEO Georges Elhedery to discuss the international economic and financial situation, China–UK financial cooperation, and HSBC's development in China.
Policy & regulationCooperationCross-border cooperation
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2026-03-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines confirmed the corporate name change of Panguil Bay Rural Bank of Ozamiz, Inc. to "Panguil Bay Rural Bank of Ozamiz, Inc. doing business under the name/s and style/s of PBRB." The Bangko Sentral ng Pilipinas approved amendments to the bank's Articles of Incorporation and By-Laws on 12 September 2025, with the Securities and Exchange Commission granting approval on 23 December 2025.
SupervisionAuthorisations & approvalsLicence approval
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2026-03-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding scams involving fraudulent websites, fake internet banking login screens, and phishing emails. The alert includes warnings from several banks and reminds the public that banks will not request sensitive information via SMS, email, or phone. Affected individuals should contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2026-03-25•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission will host ASEAN securities regulators on March 26 to advance regional capital market integration, sustainable finance and cross-border enforcement. Planned initiatives include a supervisory and enforcement network, standards for sustainable finance verifiers and an expanded corporate governance assessment.
Policy & regulationCooperationCross-border cooperationCorporate governanceClimate risk and sustainable finance
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2026-03-25•Vietnam•Vietnam State Securities Commission
Vietnam's Ministry of Finance and the Vietnam State Securities Commission released a compilation of consultation feedback and responses on the draft Circular. The Circular outlines the economic and technical characteristics of securities-sector services provided by the Vietnam Stock Exchange and the Vietnam Securities Depository and Clearing Corporation, where prices are state-determined.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-03-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
On 23 March 2026, an authorised officer from the National Bank of the Kyrgyz Republic delivered a lecture to employees on the new anti-corruption law. The session covered the law's objectives, tasks, key provisions, and current legislative requirements.
Institutional developmentCooperation & capacity buildingBribery and corruption
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2026-03-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined three individuals KGS 17,500 each for unlicensed cash foreign currency exchange operations in Bishkek.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2026-03-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam met with a UK delegation to discuss cooperation on developing Vietnam's international financial centre, focusing on green finance and digital trade finance infrastructure. Drawing on the Astana International Financial Centre's experience, they emphasized strategic clarity, a fit-for-purpose legal framework, and governance arrangements. Discussions included UK PACT support for green finance legal frameworks and plans for a trade finance data platform, highlighting legal considerations like cross-border data handling and cybersecurity.
Policy & regulationCooperationCross-border cooperation
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2026-03-25•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway published an inspection report finding that Deloitte AS breached the Norwegian Auditor Act in its 2024 audit of a public interest entity by failing to obtain sufficient and appropriate audit evidence over inventory existence and sales transactions. The authority identified deficiencies in the audit approach and documentation for inventory and revenue, including weaknesses in responses to IT control issues and reliance on a bank transaction list from the audited entity, and noted that engagement partner review did not detect these shortcomings. Deloitte acknowledged that the audit file documentation did not support the risk assessment or provide sufficient audit evidence.
SupervisionReviews, inspections & stress testsAuditing
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2026-03-25•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported that the substandard or below (SBL) loan ratio for domestic banks remained at 0.57% at the end of December 2025, with the SBL balance rising to KRW 16.6 trillion. Business-loan SBLs totaled KRW 13.2 trillion, with large-company SBL ratios increasing to 0.49% and SME ratios decreasing to 0.83%. Household-loan SBLs were KRW 3.1 trillion, with a 0.31% ratio, while new SBL inflows were KRW 5.9 trillion against KRW 5.7 trillion resolved.
SupervisionRisk monitoring & watch pointsAsset quality
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2026-03-25•South Korea•South Korea Financial Supervisory Service
South Korea's Financial Supervisory Service (FSS) announced a shift towards consumer-centered supervision at its FSS SPEAKS 2026 forum, emphasizing financial consumer protection. The FSS plans to implement a comprehensive supervisory framework to manage risks, overhaul dispute settlement standards, and enhance capital markets transparency. Additional priorities include supporting MSCI Developed Markets Index inclusion, diversifying exchange-traded fund products, and strengthening IT risk management.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protectionGeopolitical risk
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2026-03-25•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission reported survey results from 27 registered virtual asset service providers for the second half of 2025, revealing a 3% increase in eligible users and a 31% rise in KRW deposits despite a 15% drop in average daily trading volume and a 38% decline in total operating profits. KRW-based exchanges maintained market dominance, while coin-only exchanges saw a 26% decrease in market capitalization but a 36% increase in trading volume. External transfers to registered entities rose 6%, with notable increases in transfers to whitelisted overseas entities and personal digital wallets.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-25•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) has recognized India International Bullion Exchange (IFSC) Limited (IIBX) as both a Bullion Exchange and a Bullion Clearing Corporation in the GIFT IFSC, granting it Qualifying Central Counterparty (QCCP) status. This recognition, under the Securities Contracts (Regulation) Act, 1956, and IFSCA regulations, designates IIBX as a Market Infrastructure Institution, requiring adherence to the Principles for Financial Market Infrastructures.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) introduced a "Verified" label on the Google Play Store for stock trading apps by SEBI-registered brokers to help retail investors identify genuine apps. This initiative, developed with Google, will expand to other regulated intermediaries' apps. SEBI's Chair emphasized investor diligence with the "Pehle Pechaan Kare, Fir Nivesh Kare!" approach, encouraging verification of broker accounts and app authenticity.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2026-03-25•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) received two Bronze Stevie Awards at the 2026 Asia-Pacific Stevie Awards for its public communications initiatives. The "Check-Protect-Report" campaign was recognized for Innovation in Community Relations/Public Service Communications, while the "Meaning in a Minute" series won for Innovation in Short-Form Video Series.
OtherOperational excellence
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2026-03-25•United States•Federal Reserve Bank of Dallas
The Federal Reserve Bank of Dallas reported that oil and gas activity in the Eleventh District returned to expansion in the first quarter of 2026, with the business activity index rising 27 points to 21 and firms citing a stronger but uncertain outlook tied to the Middle East conflict. Production and employment were broadly flat, while cost pressures increased and oilfield services firms saw improved utilization and pricing but continued negative operating margins. Executives cited an average West Texas Intermediate price of about USD 43 per barrel to cover operating expenses for existing wells and USD 66 per barrel to profitably drill a new well.
ResearchEconomic data and developments
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2026-03-25•Australia•Reserve Bank of Australia
The Reserve Bank of Australia (RBA) outlined findings from Project Acacia, emphasizing tokenisation's future role in enhancing efficiency and reducing risk in Australia's financial system. The project tested 20 use cases with regulatory relief, highlighting potential economy-wide gains of AUD 24 billion annually, while addressing challenges like legal uncertainty and interoperability. The RBA plans further exploration of digital financial market infrastructure and policy reviews, alongside new industry forums to advance tokenisation and modernize the Reserve Information and Transfer System (RITS).
Policy & regulationImplementation, projects & pilotsTokenization
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2026-03-25•Ecuador•Central Bank of Ecuador
The Central Bank of Ecuador reported a 3.7% GDP growth for 2025, driven by stronger exports, higher investment, and increased household consumption. Exports rose 6.4%, with significant contributions from non-oil products, while investment and household consumption increased by 5.6% and 2.7%, respectively. The release includes updated annual figures and methodological improvements, aligning with international practices and the System of National Accounts 2025.
Data & statisticsEconomic data and developments
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2026-03-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) Board rejected IQ Option LLC's revised settlement proposal in Administrative Sanctioning Proceeding PAS 19957.006709/2021-81, citing legal impediments and ongoing concerns about alleged misconduct. The proposal, which included increased amounts and commitments on investor reimbursement, was deemed untimely and inconvenient by the Term of Commitment Committee. The proceeding continues to investigate unauthorized securities offerings targeting Brazilian residents.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2026-03-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren warned of rising financial stability risks after a Financial Stability Oversight Council meeting, criticizing the Trump Administration's weakening of post-crisis oversight. She highlighted concerns over private credit deterioration, an oil price shock linked to the President's actions in Iran, and a potential debt bubble in the artificial intelligence sector. Warren argued that deregulation could lead to conditions necessitating taxpayer bailouts and broader economic harm.
OtherFinancial stability and systemic risk
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2026-03-25•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office (ATO) issued a joint letter to RSE licensees about implementing Payday Super, effective 1 July 2026, to address unpaid superannuation. The ATO will lead on superannuation data and payment standards, while APRA will oversee RSE licensees, who must process employer contributions within three business days. The letter also highlights the commencement of SuperStream 3.0 and notes concerns about RSE licensees' readiness, particularly regarding the Member Verification Request service.
Policy & regulationGuidance & interpretationOther
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2026-03-24•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved senior management appointments at the Bulgarian Export Insurance Agency EAD and rejected crypto-asset service provider license applications from GRX Europe EOOD, Stor Assets EOOD, and NIMLAB EOOD due to incomplete submissions. Additionally, the FSC set the 2026 annual contributions for the Investment Intermediary Resolution Fund.
SupervisionAuthorisations & approvalsLicence approval
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2026-03-24•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority conducted workshops for Economics Faculty students at FINVEO AD as part of its CAPITAL CONNECT education project, enhancing financial literacy and capital markets knowledge. Students engaged in a trading simulation to understand trading financial instruments and investment decision-making. CAPITAL CONNECT, initiated in October 2024, offers interactive lectures and simulations to bridge academic learning with practical business experience.
Financial literacy & educationFinancial literacy and education
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2026-03-24•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in the 7th BODIVA Forum in Luanda, focusing on technological innovation's impact on Angola’s capital markets and alternative financing. Executive Administrator Edna Mascarenhas and Director Dalvim Pipa emphasized financial literacy and investor confidence as essential for market deepening, highlighting the need for institutional coordination to foster informed and inclusive economic participation.
Policy & regulationCooperationFinancial literacy and educationMarket development
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2026-03-24•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission (CMC) reminded supervised entities to maintain functional and up-to-date websites as per regulatory requirements, emphasizing this as a legal duty for market transparency. Compliance is expected under Regulation No. 2/25 and CMC Regulation No. 4/14, with timely publication of financial statements and reports to bolster investor confidence and integrity in Angola’s capital markets.
Policy & regulationGuidance & interpretationRegulatory reporting
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2026-03-24•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission participated in a Global Money Week webinar on preparing Generation Alpha for financial wellbeing, represented by Márcia Aurélio. The session addressed the challenges of educating this digital-native generation, focusing on financial education strategies amid increasing digitalisation and early exposure to financial products.
Financial literacy & educationFinancial literacy and education
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2026-03-24•Japan•Japan Financial Services Agency
The Japan Financial Services Agency released implementation status reports for the fiscal year ending September 7 from several banks, including Bank of Fukui Co., Ltd. and Aichi Bank Co., Ltd., under the fund grant system "Implementation Plan."
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2026-03-24•Japan•Japan Financial Services Agency
The Japan Financial Services Agency released reports on Management Enhancement Plans for the fiscal year ending September 7, focusing on financial institutions under special-case frameworks, including COVID-19 and earthquake-disaster cases. The disclosures involve multiple banks and credit unions, with a revised-law framework highlighted. The agency will continue to monitor management strategies, evaluate initiatives, and accumulate repayment resources for public funds.
SupervisionRisk monitoring & watch pointsSupervision process and methodologies
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2026-03-24•Brazil•Brazilian Pension Funds Authority (PREVIC)
Brazil’s Superior Labour Court ruled that ordinary courts, not labour courts, have jurisdiction over damages claims by members of underfunded pension funds against sponsor companies, resolving a jurisdictional impasse. The Brazilian Pension Funds Authority (PREVIC) participated as amicus curiae, linking the decision to Article 202 of the Federal Constitution, enhancing legal certainty and potentially reducing sponsor costs. PREVIC also emphasized its role in monitoring litigation with sector-wide impact through the Commission for Monitoring Relevant Actions.
Policy & regulationGuidance & interpretationOther
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2026-03-24•Japan•Japan Financial Services Agency
The Japan Financial Services Agency released a summary of Finance Minister Katayama's press conference, where he defended a government subsidy to stabilize gasoline prices at JPY 170 amid Middle East tensions. Katayama described the subsidy as an emergency measure, with its duration linked to crude oil price trends and speculative containment efforts. He also addressed yen weakness, emphasizing vigilance and readiness to act against speculative currency swings.
Policy & regulationImplementation, projects & pilotsOther
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2026-03-24•Italy•Bank of Italy
The Bank of Italy released a note highlighting the rapid growth of Buy Now Pay Later (BNPL) in Italy, identifying vulnerabilities due to limited data on volumes and riskiness. BNPL usage surged from 4% of households in 2022 to 30% in 2025, with a concentration among financially vulnerable groups. The upcoming European Consumer Credit Directive (CCD2) will extend to most BNPL transactions, enforcing stricter transparency and creditworthiness assessments to mitigate over-indebtedness.
SupervisionRisk monitoring & watch pointsBNPL
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2026-03-24•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority announced a reduction in the eMPF Platform fee from 37 to 29 basis points of an MPF scheme’s assets under management for the 2026-27 financial year, effective 1 April 2026. This 21.6% fee reduction is due to the platform’s streamlined administration model and non-profit approach, with administrative cost savings estimated at HKD 50 billion over less than 10 years. The eMPF Company aims to further increase digital usage and maintain cost control for additional fee reductions.
Policy & regulationRules & requirementsOther
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2026-03-24•Pakistan•State Bank of Pakistan
The State Bank of Pakistan has revoked the authorization of M/s Dream Exchange (Private) Limited due to serious regulatory violations. The firm is prohibited from conducting any foreign exchange activities.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-03-24•Pakistan•State Bank of Pakistan
The State Bank of Pakistan revoked the license of Al Raj International Exchange Company (Private) Limited due to serious regulatory violations. The firm is prohibited from conducting any foreign exchange-related activities.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-03-24•Japan•Japan Financial Services Agency
The Japan Financial Services Agency is recruiting certified public accountants for fixed-term assistant section manager roles focused on corporate accounting, audits, and corporate disclosure. Responsibilities include international conference preparation, meeting support, and reviewing audit-related topics. Candidates must have relevant qualifications and experience, with English proficiency preferred.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2026-03-24•Japan•Japan Financial Services Agency
The Japan Financial Services Agency is recruiting qualified lawyers to draft regulatory frameworks for digital decentralized finance, including stablecoins, and international business by domestic financial institutions. The role involves preparing draft laws, handling legal examinations, and researching financial systems. Candidates must be licensed lawyers with financial law expertise and high English proficiency, with hiring under a fixed-term national civil servant contract.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2026-03-24•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission issued a public alert regarding fraudulent emails impersonating Commission officials. Industry practitioners and the public are advised to verify emails claiming to be from the regulator by checking the domain extension bvifsc.vg. Further guidance is available in the Commission’s Public Statement 5 of 2026.
SupervisionAlertsFraud and scams
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2026-03-24•Brazil•Central Bank of Brazil
The Central Bank of Brazil has introduced measures to enhance operational security and management of the Instant Payments Account (Conta PI) within the Instant Payments System (SPI). These measures include setting a minimum operational balance, automatic blocking options, and an alternative channel for accessing Conta PI statements during network outages. These enhancements are part of the central bank's Agenda BC and the second phase of a toolset to strengthen the payments ecosystem.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2026-03-24•United States•U.S. Securities & Exchange Commission
U.S. Securities and Exchange Commission Commissioner Hester M. Peirce, at the 2026 Investment Company Institute Investment Management Conference, advocated for problem-focused, cost-transparent investment company regulation. She criticized current proxy voting mechanics and paper disclosure requirements for high costs without clear benefits, citing significant expenses in fund proxy campaigns and annual printing. Peirce proposed alternatives like lowering voting thresholds, adopting electronic disclosures, and exploring new voting models to reduce costs and improve efficiency.
Policy & regulationReform agendas & prioritiesOther
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2026-03-24•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Division of Market Oversight has expanded Brexit-related no-action relief by adding OptAxe Limited and Capitolis UK Limited to the list of eligible United Kingdom trading facilities. This amendment updates Appendix A to CFTC Staff Letter 24-11.
Policy & regulationGuidance & interpretation
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2026-03-24•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) released an Investment Funds Statistics Report and updated its Dashboard.
Data & statisticsFinancial and market indicatorsSupervisory data