The National Reserve Bank of Tonga seeks a consultant to develop an Inclusive Green Finance Roadmap, in partnership with the Alliance for Financial Inclusion, to integrate green finance into Tonga’s financial system and enhance climate resilience. Proposals are due by 23 January 2026, with the nine-month assignment commencing in February 2026.
The International Foreign Bribery Taskforce published "Indicators of Foreign Bribery" to aid organizations in identifying potential foreign bribery through risk indicators like disproportionate property ownership and complex shareholdings, noting overlaps with other financial crimes. The IFBT includes agencies such as the New Zealand Serious Fraud Office, Australian Federal Police, and the Federal Bureau of Investigation.
Zambia's Ministry of Finance and National Planning will conclude the sixth review of the current International Monetary Fund (IMF) Extended Credit Facility (ECF) and engage the IMF on a successor programme, foregoing a one-year extension. The government aims to transition to a new programme focusing on debt restructuring, growth, and investment, with policy continuity maintained through adherence to the national budget and ongoing IMF engagement.
Chile's Superintendence of Pensions issued a new General Rule updating the framework for establishing and authorizing new pension fund administrators (AFPs), aligning with pension reform requirements and tightening management standards. Key changes include a 50,000 UF minimum capital requirement, experience standards for investment governance, and operational readiness expectations, with certain provisions effective in April 2027.
The Bulgaria Financial Supervision Commission approved Tsvetelina Dimitrova to independently conclude transactions for Karoll Capital Management EAD and granted Invest Fund Management AD a permit to manage the national mutual fund Invest Focus. Additionally, the FSC deregistered bond issues from TBI Bank EAD and Web Finance Holding AD, totaling EUR 20,000,000 and EUR 10,000,000 respectively.
The Central Bank of Bolivia released an operations bulletin detailing allocations and rates from its week 2/2026 securities auction, including competitive awards for various LB-MN BCB and BT-MN TGN titles, and outlined parameters for money desk collateralised operations with a premium rate of 10.25% to 10.75%. The bulletin set the timetable for repo and securities offers and announced the next electronic public securities auction on 14/01/2026.
The National Bank of Belgium announced its 2026 annual report roadshow schedule, where Board members will present the report and review key economic, financial, and monetary developments across various cities in Belgium from 5 to 17 March 2026.
The Central Bank of Luxembourg's consumer survey for December 2025 indicates a decline in the consumer confidence indicator, with slight improvements in economic expectations but deteriorating perceptions of past financial situations and a significant drop in major purchase intentions.
The Central Bank of Luxembourg and STATEC reported a provisional current account surplus of EUR 5,913 million for the first three quarters of 2025, a decrease of EUR 932 million from the previous year. The goods balance surplus was EUR 1,218 million, with notable changes in exports and imports, while the services surplus declined by 10% due to higher import growth; significant portfolio flows included net inflows into Luxembourg equities and increased resident purchases of foreign debt.
The Panama Superintendency of the Securities Market reminded holders of specified licences that the 2026 annual supervision fee is due within 30 days in January 2026, and noted that Agreement No. 2-2025 eliminates the requirement to submit the RP form for fee payments. Payments can be made via certified cheque, bank transfer, or point-of-sale terminal, with bank transfers requiring prior coordination with the Treasury Department.
At the Vietnamese Government's December 2025 press conference, the State Bank of Vietnam reported that all 2025 macroeconomic targets were exceeded, with GDP growth at 8.02% and inflation below 3.6% over 2021–2025. The economy surpassed USD 510 billion, with GDP per capita above USD 5,000, maintaining a decade-long trade surplus and registering USD 185 billion in foreign direct investment over the period.
The Financial Conduct Authority released CP26/1, responding to CP24/16 and consulting on a UK-wide Value for Money Framework for workplace defined contribution pensions, including draft FCA Handbook rules and a discussion paper for future Department for Work and Pensions regulations. Key updates include new metrics, reduced data requirements, and a redesigned assessment model with a central VFM database, with feedback due by 8 March 2026.
The National Bank of the Republic of Tajikistan issued a public notice refuting false social media claims that it offers loans at 1 percent, clarifying that it does not provide banking services to individuals and urging reliance on official sources.
Mouatassem Boudiaf has assumed the role of interim governor of the Central Bank of Algeria following his appointment by President Abdelmadjid Tebboune on 4 January 2026, succeeding Salah Eddine Taleb. Boudiaf previously served as vice-governor of the bank.
The Bank of Japan's latest Regional Economic Assessment indicates that economic conditions across all nine regions are recovering moderately or picking up, with some areas still showing weakness. The assessment, compared with October 2025, shows broadly unchanged regional views, with Hokkaido, Hokuriku, Kanto-Koshinetsu, Kinki, and Kyushu-Okinawa recovering moderately, while Tohoku and Shikoku are picking up and Tokai is recovering moderately.
The Bank of Italy's research paper finds that advanced machine learning models can enhance its In-house Credit Assessment System for Italian non-financial corporations, improving discriminative power and supporting analysts' work despite interpretability constraints. The study highlights that deep learning and decision tree ensemble methods outperform traditional models, with a stacking meta-model further enhancing performance.
Indonesia’s Financial Services Authority (OJK) has introduced new IT operation requirements for rural banks and Sharia rural banks to enhance digital security, focusing on IT governance, risk management, and data protection. The framework, effective one year post-promulgation, will replace existing regulations and mandates local data center and disaster recovery facilities.
The Spanish Securities Commission (CNMV) issued guidance for "finfluencers" on promoting financial products, emphasizing clear disclosures of payments and conflicts of interest. It warns of legal liabilities for misleading content and highlights risks of high-risk products like CFDs and cryptocurrencies, advising against unauthorized promotions and stressing compliance with EU Market Abuse Regulation.
The European Central Bank's November Consumer Expectations Survey shows stable median inflation perceptions and expectations, with a softened outlook due to lower expected spending growth, more negative growth expectations, and slightly reduced housing and mortgage-rate expectations. Median perceived inflation remained at 3.1% for the past 12 months, while economic growth expectations declined to -1.3% and expected unemployment fell to 10.9%.
The Central Bank of Mexico's Governing Board minutes confirmed a 25 basis point cut in the overnight interbank interest rate to 7.00%, citing weak domestic activity and peso appreciation. The Board plans to assess future rate adjustments based on inflation determinants, with some members advocating caution and gradualism, while one dissenter suggested pausing to recalibrate forecasts.
Latvia's Ministry of Finance announced the enactment of the 2026 state budget and the 2026-2028 budget framework, effective 1 January 2026, with a balanced approach to public spending and revenues. The ministry forecasts 2026 tax revenues at EUR 16 billion, with significant contributions from mandatory state social insurance, value added tax, and personal income tax.
The Bank of Tanzania's Monetary Policy Committee has maintained the Central Bank Rate at 5.75% for Q1 2026, with inflation expected to stay within the 3–5% target range amid favorable economic conditions. The 7-day interbank rate will be managed within a 3.75 to 7.75% band, while global growth is projected by the International Monetary Fund at 3.2% in 2025 and 2026, with declining inflation trends.
The Central Bank of Latvia highlights its appeal for fintech licensing and EU expansion due to early supervisor engagement, transparent authorization pathways, and access to central-bank payment infrastructure, including direct participation in the Electronic Clearing System for eligible non-bank payment service providers. It also notes its role in crypto-asset service provider authorization under the European Union Markets in Crypto-Assets Regulation, with MiCA applications accepted since early 2025 and two licenses issued.
The Central Bank of Lebanon announced legal actions against individuals and entities accused of embezzling or misusing its funds to recover assets. Domestically, it filed a criminal complaint against former officials and joined a case involving unlawful commissions, while preparing further actions against entities linked to a consultancy account. Internationally, it initiated legal steps in France, Luxembourg, and Liechtenstein, and is coordinating investigations in Switzerland and Germany.
The Philippine Securities and Exchange Commission revised REIT rules, expanding income-generating real estate definitions, allowing broader use of unlisted SPVs and JVs, and adjusting reinvestment, dividend distribution, and public shareholder provisions. Key changes include a two-year reinvestment period for sponsors, a 90 percent income distribution requirement for SPVs and JVs, and refined definitions of public shareholders and substantial influence.
The Securities Commission of The Bahamas warns that 12 entities, including Benacea Markets Limited and Bitop Markets Limited, are not registered or licensed and may falsely claim authorisation for securities trading or digital asset business. The public should verify firms against the Commission's online listings, as unregistered activity could violate laws and lead to prosecution or sanctions.
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) will change the submission method for national B2.4 reporting on participating interests and subordinated loans, effective 1 February 2026. Reports will be collected exclusively through two specified methods and accepted free of charge. A user guide will be provided soon.
The Reserve Bank of Malawi and the Bankers Association of Malawi announced that the phase-out of cheque usage is delayed due to pending legal amendments to the Bills of Exchange Act, with cheque payments remaining acceptable until further notice. The proposed amendments aim to facilitate the transition to digital payments and address legal ambiguities, with efforts to enact the legislation at the next parliamentary session.
The Reserve Bank of Malawi has issued a final notice for Alliance Capital Limited investors to update their personal and banking details in person by specified dates in January 2026 to ensure inclusion in future payment distributions, warning that non-compliance will result in exclusion and closure of records.
The National Bank of Serbia extended a temporary measure for an additional 30 days, allowing the public postal operator and authorised exchange offices more time to return cash foreign currency to banks, to support exchange market stability. Initially introduced on 9 December 2025, this measure extends the return deadline from seven to 30 days, with the central bank affirming market stability and sufficient cash availability.
The National Bank of Serbia's third-quarter 2025 insurance sector report highlights growth in premiums, assets, and capital, with stable market structure and strong solvency and liquidity indicators. The report anticipates significant regulatory changes as Serbia aligns with the European Union Insurance Distribution Directive and progresses with Solvency II implementation.
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has released a draft regulation to amend market conduct management rules and commission structures. Key proposals include obligations for financial institutions to design user-friendly products, enhance digital transparency, and ensure timely user notifications. The draft also addresses credit repayment processes, prohibiting commissions for repayments through creditor channels and mandating free certificates for overdue debt regularization.
The Central Bank of Poland released the voting results of the Monetary Policy Council members for November 5, 2025.
The U.S. Department of Justice charged Yan Lin with conspiracy to launder tens of millions from drug trafficking, using bulk cash deliveries and electronics purchases to move profits to Mexico and Hong Kong. Lin's activities reportedly involved USD 27.4 million in 2024, and he faces up to 20 years in prison if convicted.
The New York State Department of Financial Services issued a final regulation extending the Community Reinvestment Act to non-depository mortgage bankers, requiring large nonbank mortgage lenders with at least 200 originations to be evaluated on credit provision and equitable home loan access for low- and moderate-income borrowers. Effective July 7, 2026, the regulation includes a lending test and a service test but does not mandate community development investments or grants.
The Central Bank of Nicaragua reduced its Monetary Reference Rate by 25 basis points to 5.75% and adjusted rates on its one-day Monetary Repo and Monetary Deposit facilities to 7.00% and 4.50%, respectively, citing alignment with international interest rates and domestic monetary conditions amid global growth and deceleration risks.
In a speech, the U.S. SEC’s Director of Investment Management, Brian Daly, urged investment advisers to reassess proxy voting policies to prioritize client interests over a default “vote all proxies” approach and cautioned against over-reliance on proxy advisory firms. He highlighted ongoing considerations from a presidential executive order regarding proxy advisor registration, transparency, and the alignment of proxy advice with fiduciary duties, inviting industry engagement.
The U.S. Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation released its 2025 staff report to Congress, detailing capital-raising dynamics across various business stages and summarizing outreach activities and feedback integration into educational resources.
The Federal Reserve Board approved Prosperity Bancshares, Inc.'s application to acquire Southwest Bancshares, Inc., leading to the indirect acquisition of Texas Partners Bank.
The CFTC's Divisions of Market Oversight and Clearing and Risk issued a no-action position on swap data reporting and recordkeeping for certain binary and bounded swap contracts, following a request from Bitnomial Exchange, LLC and Bitnomial Clearinghouse, LLC. This relief, limited to specific circumstances, prevents enforcement action against Bitnomial and its participants for non-compliance with certain swap-related requirements, aligning with similar no-action letters for other designated contract markets and derivatives clearing organizations.
Caryn Seidman Becker, chairman and CEO of CLEAR, has been elected as a Class B Director to the board of the Federal Reserve Bank of New York, representing public interests for a three-year term ending 31 December 2028. She was elected by Group 2 member banks, which have capital and surplus between USD 40 million and USD 2 billion.
The Federal Reserve Bank of New York's December 2025 Survey of Consumer Expectations reported a rise in one-year-ahead inflation expectations to 3.4% and deteriorating job market expectations, including a record low in perceived job-finding prospects. Credit access perceptions worsened, with the probability of missing a debt payment rising to 15.3%, notably affecting older, lower-education, and lower-income respondents.
Michael J. Gilfeather, president and CEO of Orange Bank and Trust Company, has been elected as a Class A Director for Group 2 on the Board of Directors of the Federal Reserve Bank of New York, representing member banks with capital and surplus between USD 40 million and USD 2 billion for a three-year term ending 31 December 2028.
The U.S. Department of the Treasury has notified the Green Climate Fund of the United States' immediate withdrawal from the Fund and its seat on the GCF Board, aligning with the Trump Administration's decision to exit the United Nations Framework Convention on Climate Change.
The Central Bank of Argentina approved the dissemination of the Moratory Interest Rate (TIM) as a benchmark for courts setting default interest on peso-denominated debts, and submitted the project for public consultation. The TIM, calculated from passive and active interest rates, is constrained within bands linked to the Reference Stabilization Coefficient (CER), with a ceiling of CER plus 3% and a floor of CER minus 3% effective annual.
The Financial and Consumer Services Commission of New Brunswick has initiated the annual reporting period under the Unclaimed Property Act, mandating businesses to report unclaimed funds to the Unclaimed Property Program by March 31, 2026, via FundsFinderNB.ca. Since its inception, the program has processed over CAD 41.1 million in reports and reunited CAD 3.3 million with owners.
The New Brunswick Financial and Consumer Services Commission issued a fraud alert regarding scammers impersonating a non-existent "Carleton Credit Union" to solicit investments, directing targets to fake websites. The Commission confirmed no such entity is registered and advised the public to verify registrations and report any suspected fraud.
The Liechtenstein Financial Market Authority announced that VP Bank Ltd has waived its registration as a TT Depositary under the Token and Trusted Technology Service Provider Act (TVTG), effective 31 December 2025. Consequently, VP Bank is no longer authorized to provide TT services requiring registration. The registration lapsed under Article 20(1)(a) TVTG.
The Liechtenstein Financial Market Authority (FMA) has outlined its supervisory priorities for 2026, focusing on aligning supervision with the financial centre's risk situation to enhance resilience. These priorities were determined through market analysis, regulatory developments, and recommendations from European authorities. The FMA will continue to monitor these priorities.
The Department of Finance (Ireland) will provide up to EUR 50,000 to support the Women in Finance Charter by funding a data partner for ongoing research and reporting, following its 2022–2025 pilot. A public procurement process is underway to appoint a new data partner for 2026, with plans to collaborate with stakeholders to enhance inclusivity efforts in the financial sector.
The Securities and Exchange Commission of Pakistan has amended the Research Analyst Regulations, 2015, introducing mandatory registration for research analysts, expanding compliance mechanisms for social media content, and enhancing disclosure and conduct standards. These changes follow stakeholder consultations and aim to improve transparency and investor decision-making.
The Philippine SEC approved La Union Electric Company, Inc.'s direct public offering under SEC POWERS guidelines, covering 2.35 million shares. The offering includes up to 352,950 common shares at PHP 772 each, with net proceeds of approximately PHP 251.4 million for capital expenditures and expansion. Penta Capital & Investment Corporation will serve as the sole underwriter, ensuring compliance with the Electric Power Industry Reform Act's public offering requirements.
The Vietnam State Securities Commission overviewed Ministry of Finance Circular 138/2025/TT-BTC, amending the securities transaction surveillance framework and compliance supervision of the Vietnam Stock Exchange and its subsidiaries. Key changes include electronic reporting, expanded supervision to subsidiaries of the Vietnam Securities Depository and Clearing Corporation, and enhanced coordination for detecting and handling trading violations. The circular takes effect on 1 March 2026.
The Vietnam State Securities Commission announced a VND 1,000,000 licensing fee for securities practice certificates, payable via bank transfer or directly at the Commission. This follows Ministry of Finance Circular 25/2022/TT-BTC. Certificates will be cancelled if not collected within one year of the fee-payment notice.
The Ukraine National Commission on Securities and Stock Market has announced a Commission meeting on 9 January 2026 at 12:00, with the agenda accessible online.
The Reserve Bank of India has released draft amendments to governance directions for urban and rural co-operative banks, proposing a minimum cooling-off period for directors to enforce the statutory maximum tenure of 10 years. Comments are invited by January 30, 2026, via the RBI’s Connect2Regulate channel.
The Dubai Virtual Assets Regulatory Authority mandates Virtual Asset Service Providers to align onboarding, investor classification, and client suitability with VARA’s Rulebooks, emphasizing the Market Conduct Rulebook. VASPs must classify clients as Retail, Qualified, or Institutional, with specific criteria for Qualified Investors, ensuring compliance through suitability assessments, documentation, and periodic reviews, with potential regulatory action for non-compliance.
Bank of Indonesia reported an increase in official reserve assets to USD 156.5 billion at end-December 2025, up from USD 150.1 billion in November, driven by tax and services receipts, global sukuk issuance, and foreign loan withdrawals. The reserves, covering 6.4 months of imports, exceed the international adequacy benchmark, supporting external sector resilience.
The Securities and Exchange Board of India has standardized compliance reporting for Specialized Investment Funds (SIFs), aligning them with mutual fund reporting under the SEBI (Mutual Funds) Regulations, 1996. Asset Management Companies managing SIFs must now complete a new Part IV in the Compliance Test Report and adhere to updated requirements in the Half-Yearly Trustee Report, effective immediately.
Bank Negara Malaysia reported its international reserves at USD125.5 billion as of 31 December 2025, sufficient to finance 4.7 months of imports and cover 0.9 times total short-term external debt. The reserves, adjusted for foreign exchange revaluation, reflect a decrease in import coverage from the previous measure of 5.6 months.
The Securities and Exchange Board of India has established a Working Group to develop five-year and ten-year technology roadmaps for Market Infrastructure Institutions, addressing emerging technologies such as artificial intelligence, distributed ledger, and quantum-safe systems. The initiative, chaired by Dr. D.B. Phatak, aims to enhance market operations, surveillance, risk management, investor protection, and regulatory oversight.
The Securities and Exchange Board of India has introduced a Digital Signature Certificate functionality within the Common Application Form portal to streamline foreign portfolio investor onboarding by integrating the FPI registration and DSC application processes. This enhancement allows direct DSC application from Indian issuers while submitting the CAF, building on a previous circular permitting digital signatures for registration documents.
The Central Bank of Chile has appointed Alberto Naudon as Vice President, succeeding Stephany Griffith-Jones. Naudon, a Board member since 2018, will serve as Vice President from 8 January 2026 to 22 March 2028.
The Hong Kong Monetary Authority issued a public scam alert regarding bank-related fraud involving fake websites, phishing emails, and fraudulent internet banking screens, emphasizing 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's Crime Wing Information Centre.
The Austrian Financial Market Authority (FMA) released a study on sustainability-related retail funds, confirming that Austrian funds marketed with environmental, social, or governance (ESG) criteria generally adhere to these criteria, with no greenwashing detected. As of 30 September 2025, 493 funds with EUR 76.0 billion in net assets were ESG-focused, with targeted reviews and an in-house greenwashing analysis framework supporting supervision.
The Chile Financial Market Commission (CMF) issued a public alert warning that several entities offering financial services are not registered or legally authorized, preventing CMF supervision or sanctioning. Entities include FOREXBANK LATAM, GROUP LATAM, KEY SOFT TECHNOLOGY SPA, among others. The CMF advises investors to verify firm registration and management on its website and to check for complaints or negative feedback online.
The Central Bank of Mongolia published its December 2025 Monetary Policy Report, now available for download.
CDP's 2025 A List results highlight growth in environmental disclosure, with 877 companies and 122 sub-national entities achieving top-tier A scores, driven by demand from 640 investors and over 270 major buyers. Over 23,100 entities disclosed, with only 4% making the Corporate A List, and Asia and Europe leading in A List proportions.
Democratic senators, including ranking members of key Senate committees, have initiated an investigation into communications between major U.S. oil companies and the Trump Administration regarding U.S. military action in Venezuela and potential exploitation of its oil resources. The inquiry seeks documents from companies like BP America and ExxonMobil on their knowledge of the strikes, discussions with officials, and investment plans, with materials due by January 21, 2026.
Senator Elizabeth Warren urged the Senate Banking Committee to hold oversight hearings on the national security and economic implications of Trump's unauthorized military action in Venezuela, highlighting concerns about taxpayer subsidies to oil companies, U.S. sanctions, and potential financial market corruption. Warren emphasized the need for public hearings over advancing legislation supported by cryptocurrency executives.
The European Banking Authority released final draft Regulatory Technical Standards to enhance cooperation and information exchange among authorities supervising third-country branches in the EU, detailing supervisory college arrangements for class 1 branches and cooperation protocols for others, under Directive 2013/36/EU and Directive (EU) 2024/1619.
The European Central Bank's Consumer Expectations Survey for November 2025 reported stable median inflation perceptions and expectations, with softer spending and housing expectations and a slightly more negative outlook on near-term economic growth. Median inflation expectations remained at 2.8% for the next 12 months, while expected economic growth for the next year declined to -1.3%.
The European Supervisory Authorities, including the European Banking Authority, issued Joint Guidelines on environmental, social, and governance (ESG) stress testing to standardize the integration of ESG risks into supervisory stress tests across the EU. These Guidelines, which do not impose new requirements for ESG-focused tests, will be applied by national authorities under a comply or explain process, with translations expected in early 2026.
The European Supervisory Authorities issued Joint Guidelines on integrating environmental, social, and governance (ESG) risks into supervisory stress tests for national banking and insurance supervisors, aiming to standardize ESG risk integration across the EU financial system without imposing new requirements for ESG-focused tests. The Guidelines, to be translated into all EU languages by Q1 2026, allow flexibility for future methodological advances and improved data availability.
APG’s 2024-25 annual report reviews its support for members on anti-money laundering and counter-terrorism financing and its preparation for the FATF Global 5th Round of mutual evaluations. It highlights assessor training, targeted support visits and work on virtual assets and cyber-enabled crime, alongside governance decisions that concluded APG’s 3rd Round and reset procedures and resources for the next evaluation cycle.
Taiwan's Financial Services Commission reported a slight increase in non-performing loans (NPLs) among 38 domestic banks, with the average NPL ratio rising to 0.16% as of November 2025. Despite the rise, asset quality is deemed manageable, and banks are expected to enhance asset quality and financial structure.
The Taiwan Financial Services Commission reported that domestic banks' lending to small and medium-sized enterprises (SMEs) reached NT$10,822.2 billion at end-November 2025, with SME loans comprising 64.70% of total enterprise loans and 67.98% of private enterprise loans. The average non-performing loan ratio for SME lending decreased to 0.20% in November 2025.
The Central Reserve Bank of Peru maintained its reference interest rate at 4.25%, citing inflation and expectations within target ranges and economic activity near potential. It set standing facility rates in soles, with an overnight deposit rate of 2.25% and a 4.75% rate for specific repo operations, and will review its monetary program on 12 February 2026, remaining vigilant on inflation and economic data for future policy adjustments.
South Korea's Financial Services Commission has announced a transition to "inclusive finance" with three policy priorities: enhancing access to finance for neglected groups, supporting vulnerable debtors, and strengthening financial safety nets. Key measures include expanding microloan supply, increasing banking sector microloan products to KRW6.0 trillion by 2028, and implementing reforms to debt collection and illegal lending practices.
The Central Bank of Estonia has launched a competition for the design of a EUR 2 commemorative coin honoring Estonian Defence Forces veterans, with submissions due by 27 February 2026 and results announced by 30 July 2026. The coin, part of the "Resistance" series, will enter circulation in 2027, with prizes of EUR 3,000, EUR 2,000, and EUR 1,000 for the top three designs.
The Central Bank of Estonia reports a slowdown in inflation, with consumer prices rising 4.8% in 2025 and inflation expected to decline to around 3% in 2026. Key factors include tax changes, global commodity prices, and euro appreciation, with VAT and excise increases maintaining upward pressure, while easing food and oil prices are expected to dampen inflation.
Estonia's Ministry of Finance reported a 0.6% month-on-month decline in consumer prices for December, with annual inflation slowing to 4.1%, the lowest in nearly a year, driven by lower energy costs and a favorable external environment. The ministry anticipates continued easing of food price inflation in 2026, while noting that recent tax measures have contributed to inflation but are expected to have a reduced impact moving forward.
Estonia's Ministry of Finance has advanced a draft bill for inter-ministerial coordination, providing the Estonian Tax and Customs Board and the Estonian Financial Intelligence Unit with a clearer legal framework for using enforcement register data in tax supervision and anti-money laundering efforts. The bill specifies the secure use of bank-secrecy-protected information via the enforcement register, emphasizing oversight and limited access, without expanding existing data access rights.
The Kuwait Capital Markets Authority has referred a Boursa Kuwait-listed company to the Attorney General for a potential offence under Article 127(2) of Law No. 7 of 2010, following non-compliance with a Disciplinary Board decision to pay a fine, despite legal notification on 12 November 2025.
The Kuwait Capital Markets Authority has cancelled the listing of Aleid Foods Company on Boursa Kuwait due to significant inaccuracies in financial statements and misleading information, following a supervisory review. The delisting will occur after the general assembly meeting, with potential disciplinary action for board members if not convened within three months, and the company has been referred to UAE authorities for further investigation.
ISDA released its "ISDA in Review – December 2025," compiling links to documents, research papers, press releases, and comment letters issued in December 2025.
The Central Bank of the Dominican Republic reported a 0.84% month-on-month increase in the December 2025 consumer price index, with 12-month inflation at 4.95%, within the target range of 4.0% ± 1.0% for 32 months. Core inflation rose 0.63% monthly, reaching 4.85% year-on-year, driven by adverse weather impacts on agriculture and seasonal demand, with significant contributions from food, beverages, and personal care services.
The Central Bank of the Dominican Republic reported a 10.3% increase in remittance inflows for 2025, totaling USD 11,866.3 million, with December receipts up 9.5% year-on-year. For 2026, remittances are projected to grow by approximately 3.5% despite a new 1% US remittance tax, which is expected to have limited impact due to exemptions for bank and digital transfers.
Austria's Ministry of Finance reported a slight easing in the inflation rate for December, though it remains high, with Finance Minister Markus Marterbauer noting government measures like the rent brake and energy price actions are expected to impact soon. Marterbauer emphasized significant price hikes in services and plans to scrutinize fuel prices, as global crude oil price drops have not been mirrored at the pump.
Austria's Ministry of Finance warns entrepreneurs of fraudulent emails impersonating the ministry to capture business and payment data via fake websites. The ministry emphasizes that official communications are sent by post or to the FinanzOnline Databox and never request sensitive information like passwords or bank details.
The Bank of Israel reported foreign exchange reserves of USD 229,484 million at the end of December 2025, a decrease of USD 1,941 million from November, representing 39.4% of GDP. The decline was primarily due to government foreign exchange activity of USD 3,483 million, partially offset by a USD 1,509 million revaluation.
Mexico's Ministry of Finance updated its Sovereign Sustainable Financing Reference Framework, aligning it with the National Development Plan 2025–2030 to guide federal ESG funding. The framework, which received Moody’s highest Second Party Opinion rating, expands eligible expenditure categories and links eligibility to Mexico’s Sustainable Taxonomy, with oversight from the UN Development Programme and the Supreme Audit Institution.
The Angola Capital Markets Commission has released its 2026 Regulatory Agenda for consultation, outlining strategic priorities and phases for regulatory interventions in securities and derivatives markets to enhance transparency and stakeholder engagement.
The Angola Capital Markets Commission has released its 2026 Activity Plan for consultation, detailing operational objectives aligned with its 2023-2027 Strategic Plan, focusing on promotion, supervision, cooperation, and internal organisation. The plan emphasizes development, technological innovation, financial education, regulatory updates, risk-based supervision, and strengthening relationships.
The Central Bank of Luxembourg announced that the required reserve amount for the 23 December 2025 to 10 February 2026 maintenance period is EUR 6,652 million, marking an increase of EUR 168 million from the previous period, with related statistical data available on its website.
The Central Bank of Luxembourg reported a 0.57% monthly increase in the aggregate balance sheet total of credit institutions to EUR 1,008,992 million as of 30 November 2025, with a 3.78% rise year-on-year. Key drivers included a rise in "other assets" and "other liabilities," while loans to non-bank customers and resident non-bank deposits showed mixed trends, with notable increases in household mortgage lending and deposits from financial intermediaries.
The European Central Bank's working paper examines the U-shaped relationship between collateralisation and corporate loan default risk in the euro area. Initial collateral reduces risk, but very high ratios increase it. Using AnaCredit data, the study identifies a reversal point at a 2.8 collateral ratio, where higher initial ratios lead to greater collateral value variance. It suggests overcollateralisation may weaken borrower incentives, increasing default risk.
The European Central Bank's working paper reveals that banks with higher climate transition risk, measured by "financed emissions," incur increased borrowing costs in the European interbank repo market, particularly during financial stress. Analyzing data from 2019–2022, the study finds these costs are 7–12% higher on average, with premiums intensifying in riskier segments and during market stress, suggesting faster repo rate adjustments for high-emission banks following policy rate hikes.
The State Bank of Vietnam hosted a delegation from the Bank of Korea under the 2025 Knowledge Sharing Partnership, focusing on strengthening balance of payments statistics. Recommendations include improving the legal framework and enhancing statistical reporting databases, with continued cooperation planned for 2026.
The State Bank of Vietnam appointed Ms Nguyen Thi Thu Huong as Director of its Credit Institution Management and Supervision Department, effective 5 January 2026, succeeding her role as Acting Director.