The Bank of Japan released its statement of assets and liabilities, reporting total assets of JPY 677.776 trillion, with Japanese government securities at JPY 544.395 trillion and loans at JPY 79.521 trillion. Major liabilities included current deposits of JPY 470.945 trillion and banknotes of JPY 120.606 trillion, with provisions at JPY 10.586 trillion.
The Reserve Bank of India has amended disclosure requirements for Regional Rural Banks, mandating a new note on related-party exposures in financial statements, effective 1 April 2026. The note requires detailed reporting of loans and contracts with related parties, including classifications and provisions, with early implementation permitted.
The Reserve Bank of India has revised its financial statement presentation and disclosure framework for urban co-operative banks, mandating new Notes to Accounts disclosures on related-party exposures, effective 1 April 2026, with optional early adoption. The amendment requires detailed reporting on loans and contracts involving related parties, including their classification and provisions.
The Reserve Bank of India has revised its financial statement presentation and disclosure framework for rural co-operative banks, mandating new disclosures on related-party exposures in the notes to accounts, effective 1 April 2026. These include detailed reporting on loans, contracts, and arrangements with related parties, aligned with the rural co-operative banks credit risk management directions.
The Bank of Japan released its December monetary base statistics and a long-term time-series data file.
The National Bank of Denmark's analysis of the Greenlandic economy highlights a slowdown to modest growth, with public finances deteriorating sharply in 2025 due to declining shrimp stocks and critically low liquidity in the Greenland Treasury. The 2026 Finance Act introduces fiscal tightening, while future fiscal pressure is anticipated from a projected 20% population decline by 2050.
The Thailand Securities & Exchange Commission has amended rules for asset management companies to allow more flexible compensation options for mispriced investment units, including monetary compensation and exceeding actual losses by considering opportunity costs. These changes, effective 1 February 2026, follow a supportive public hearing and have been published in the Government Gazette.
The Securities and Exchange Commission of Zimbabwe has clarified that, under paragraph 4.1 of the December 2025 Capital Adequacy Directive for Securities Market Intermediaries, the amount used for professional indemnity cover is at the discretion of the firm. The notice addresses the calculation of insurable amounts for professional indemnity.
The Central Reserve Bank of El Salvador published the 2025 National Survey of Financial Inclusion and Education, conducted digitally for the first time. It provides a comprehensive diagnostic of financial inclusion and education, detailing access to financial products, digital channel usage, and financial literacy across demographics. Key findings will inform updates to the National Financial Inclusion Policy, addressing access barriers and gender gaps.
Lithuania's Ministry of Finance has received approval to nominate Rimantas Šadžius for Vice-President and member of the European Central Bank Executive Board, highlighting his extensive experience and the need for geographical balance. Nominations for the role are open until 9 January 2026, with appointments made by the European Council for an eight-year term.
The Philippines Department of Finance reported a drop in full-year 2025 inflation to 1.7%, attributed to a comprehensive government strategy involving price management and targeted assistance, falling below the Bangko Sentral ng Pilipinas target range of 2.0% to 4.0%. Key measures included reducing rice inflation, expanding the 'Benteng Bigas, Meron Na!' program, and implementing transport cost controls.
The Central Bank of Latvia outlined its 2026–2028 financial market supervision priorities, emphasizing resilience, accessibility, and transparency, while reducing firms' administrative burdens. The 2026 plan includes 12 on-site inspections across sectors, focusing on risks like credit underwriting standards, bank profitability, insurers' claims practices, and fintech compliance with the Digital Operational Resilience Act (DORA).
The Danish Financial Supervisory Authority has appointed Rasmus Junggreen Lassen as head of its ESG and sustainability office, effective 1 January, to oversee sustainable finance supervision and coordinate international sustainability efforts.
The Central Bank of Oman has introduced a Business Continuity Management (BCM) Framework for licensed banks and finance and leasing companies, emphasizing operational resilience through a service-centric approach. It mandates governance by boards and senior management, recovery objectives, and integration into risk management, with requirements for business impact analysis, IT disaster recovery, and cyber resilience. It also outlines incident reporting timelines and testing protocols, replacing the previous BCM guidelines from August 2010.
The Central Bank of Nicaragua reported a total external debt of USD 16,139.3 million for Q3 2025, with the public sector accounting for 54.9% and the private sector 45.1%. The debt increased by USD 84.5 million from the previous quarter, with disbursements primarily directed towards sectors such as electricity, gas, and water, and debt service totaling USD 781.2 million.
GAFILAT visited New York on 17–18 December 2025 to boost cooperation with UN bodies on countering terrorism and proliferation financing. Led by President Juan Carlos Monroy Véliz, they engaged with the UN Counter-Terrorism Committee and launched guidance on human rights in counter-terrorism financing. GAFILAT also discussed its Regional Risk Assessment on proliferation financing with Panama’s UN Ambassador, supporting FATF Recommendation 7 and Immediate Outcome 11.
The U.S. Department of Justice announced that Wilfredo Aquino, a former TD Bank N.A. assistant store manager, pleaded guilty to a money laundering conspiracy involving approximately USD 474 million moved through TD Bank accounts from 2019 to 2021. Aquino processed over USD 92 million in official bank checks and facilitated nearly USD 2 million in cash transactions without proper reporting, accepting retail gift cards in exchange; sentencing is on May 12.
The Bank of Central African States' board approved the central bank's 2026 budget, with revenue of XAF 586,634,958,296, expenditure of XAF 333,341,790,605 and a projected surplus of XAF 253,293,167,691. It also gave a favorable opinion on regional regulations covering an ISO standard, blacklisting borrowers for unpaid credit, a general register for book-entry securities issued in CEMAC, and GABAC's organization and functioning.
The Ministerial Committee of the Central African Monetary Union approved the 2026 budgets of BEAC, COSUMAF and GABAC, appointed members of the COSUMAF board, and adopted four regional regulations. The measures cover ISO 20022 implementation, borrower indexing for unpaid credit at COBAC-supervised institutions, securities dematerialization and safekeeping, and GABAC's organization and functioning.
The People's Bank of China outlined its 2026 policy priorities, focusing on a moderately loose monetary policy, financial reform, and risk prevention. Key measures include flexible monetary tools, support for the real economy, risk resolution for financial institutions, and reforms in interbank and foreign exchange markets, alongside legislative revisions and digital currency development.
The European Payments Council announced that Bits, Revolut Bank, and Wise joined as members from 1 January, expanding its membership to 83 payment service providers and associations, enhancing fintech participation in European account-to-account payments standardisation.
The Governor of the Bank of Ghana outlined 2025 measures to restore monetary and financial stability, reporting inflation reduction to single digits and increased reserves. Key reforms included enhanced liquidity management, foreign exchange market discipline, and tightened banking supervision. For 2026, the Bank plans to consolidate reforms, anchor the Domestic Gold Purchase Programme within the government framework, and convene a workshop with GoldBod and the Ministry of Finance.
Bank of Ghana Governor Dr. Johnson Pandit Asiama outlined plans at the Maiden Diaspora Economic Growth Summit to leverage diaspora remittances for macroeconomic stability and investment. The central bank aims to enhance formal remittance flows through targeted measures and incentives, and introduce investment-oriented instruments like diaspora bonds. In 2026, the Bank plans to develop a National Remittance Strategy and conduct a Roadshow to boost diaspora engagement.
The Federal Reserve Board released minutes from its December 10, 2025 meeting, highlighting the review and determination of discount rates for depository institutions, distinct from the Federal Open Market Committee's federal funds rate process.
The Federal Reserve Board issued a consent prohibition order against Jason Lovell, a former Regions Bank employee, for misappropriating customer funds.
The Financial Industry Regulatory Authority (FINRA) appointed Rostin Behnam, Tim Carter, Dan Gallagher, and Heather Traeger as new Governors to its Board, bringing diverse expertise in financial regulation, investment banking, legal compliance, and public pension management. The Board consists of 22 members with a mix of public and industry seats, and governors serve three-year terms with a two-term limit.
The Financial and Consumer Services Commission of New Brunswick has implemented the Financial Advisor and Financial Planner Title Protection Act as of 1 January 2026, establishing a title protection regime requiring minimum education standards and oversight by Commission-approved credentialing bodies. Transition periods of two years for financial advisors and four years for financial planners are provided for those using the titles without approved credentials.
The Financial and Consumer Services Commission of New Brunswick has enacted the Financial Advisor and Financial Planner Title Protection Act, establishing a regime requiring individuals using these titles to meet education standards and be overseen by approved credentialing bodies. The regime includes transition periods of two years for financial advisors and four years for financial planners, with implementation starting January 1, 2026.
The Central Bank of Comoros held a ceremony at the Palais du Peuple on Dec. 17 to discuss the performance and outlook of the Comorian economy 50 years after independence.
The Central Bank of Comoros has started rolling out updated KMF 10,000 and KMF 5,000 banknotes from Jan. 5, 2026. The notes keep their existing overall design but add stronger anti-counterfeiting features and updated official markings, while old and new notes continue to circulate without restriction.
The Securities and Exchange Commission of Pakistan reported a 29% increase in company registrations, with 21,668 new incorporations in the first half of the financial year, contributing PKR 30.7 billion in paid-up capital. IT and E-Commerce sectors led with 4,277 new companies, and foreign investment totaled PKR 1.26 billion, predominantly from China.
The State Bank of Pakistan announced the shortlist for its Regulatory Sandbox's first cohort, focusing on digital financial services like inward remittances, open banking, and remote merchant onboarding. Participants, including Neem Exponential Financial Services and The Bank of Punjab, will test solutions in a controlled environment for up to six months under a high-level Steering Committee's oversight.
The Isle of Man Financial Services Authority released its January 2026 bulletin, featuring AML/CFT updates, supervisory guidance, and findings from the insurance sector risk assessment. It also highlights international engagements, including participation in the MONEYVAL Plenary and Country Training, and previews a forthcoming Reporting and Registers project.
The Brazilian Pension Funds Authority (PREVIC) has launched its 2026 Annual Inspection and Monitoring Programme, emphasizing risk-based supervision for 111 closed pension entities. The programme includes permanent, periodic, and diligence-based supervision, with priorities on cybersecurity, election processes, and transparency. PREVIC will introduce an experimental AI system for detecting atypical operations and oversee intervention and liquidation regimes.
The Central Bank of the Republic of Azerbaijan has amended its "Rules for the Calculation of Bank Capital and Capital Adequacy" to align with Basel III standards. The amendments update bank capital structures, capital adequacy ratios, and introduce new capital buffers to enhance loss-absorbing capacity and risk assessment. Full compliance is required by 1 January 2027.
The Central Bank of the Republic of Azerbaijan has appointed a temporary administrator to AtaSığorta JSC to ensure financial stability and fulfill statutory duties. The insurer's management powers are suspended and transferred to the administrator. This measure aims to protect the rights of insurance service consumers and creditors.
The Brazil Securities Commission (CVM) has ordered the immediate suspension of public offers of securities intermediation services by Capitalist LTD, operating under the CARIORO brand. CVM warned that the firm is not authorised to operate in Brazil and was attempting to attract Brazilian clients for securities transactions.
The Abu Dhabi Global Market Financial Services Regulatory Authority issued an alert on false and misleading claims by SGV Advisory FZ LLC (Strategic Global Ventures) that it can provide “FSRA license cover from day one” and immediate FSRA “regulatory coverage” via an investment platform. The authority clarified that Strategic Global Ventures has never been authorised or licensed in Abu Dhabi Global Market, that the name and image of an Approved Person at another FSRA-licensed entity were used without permission, and reminded investors to verify firms via the FSRA and ADGM public registers.
The Reserve Bank of India has released draft 2026 directions for public comment to revise prudential norms on dividend declarations and profit remittances for various banks, introducing a new methodology for calculating maximum eligible dividend payouts. Comments are accepted until 5 February 2026 through the RBI's Connect2Regulate channel.
The Malaysia Securities Commission has appointed Dato’ Seri Ahmad Johan Mohammad Raslan as the non-executive Chairman of its Audit Oversight Board, effective 5 January 2026, succeeding Tan Sri Abu Samah Nordin. Dato’ Seri Johan, previously a non-executive board member since December 2020, has an extensive background in corporate governance and financial oversight.
France's Autorité des marchés financiers and the Prudential Supervision and Resolution Authority issued a public warning and updated their blacklists, adding 58 unauthorised websites to the Forex category and 29 to the crypto-asset derivatives category. Investors are advised to verify intermediary authorisation through official registers, as the blacklists are frequently updated but not exhaustive.
The Central Bank of Chile released the Survey of Price Determinants and Expectations, indicating stable selling prices and unchanged median inflation expectations. Firms reported neutral selling prices, similar cost pressures, slightly weaker sales volumes, and modest profit margin improvements. Sales conditions exerted downward pressure on prices, while costs and a weaker USD exchange rate contributed upward pressure.
The Hong Kong Securities and Futures Commission reprimanded and fined Saxo Capital Markets HK Limited HKD 4 million for regulatory breaches related to distributing unauthorised virtual asset funds and products to retail clients. The firm failed to assess clients' knowledge, provide adequate information, and implement proper due diligence and controls, breaching SFC guidelines and the Code of Conduct.
The Norwegian Financial Supervisory Authority updated out-of-court debt collection costs after the Government raised the debt collection rate from NOK 700 to NOK 750. Under section 1-2 of the Debt Collection Regulations, fees for reminders and warnings are adjusted from NOK 35 to NOK 38, and fees for payment requests from NOK 105 to NOK 113. Maximum rates for a debtor's liability for out-of-court collection costs remain unchanged.
Democrats on the U.S. Senate Committee on Banking, Housing and Urban Affairs announced a January 7, 2026 roundtable with housing organizations as part of the 2026 Costs Initiative to lower housing costs. The event will explore policy options, including the bipartisan ROAD to Housing Act, with participation from key advocacy groups.
The European Central Bank reported that euro area bank interest rates for new loans and deposits remained largely stable in November 2025, with borrowing costs at 3.50% for non-financial corporations and 3.30% for household loans for house purchase. Notable changes included a 4 basis point decrease for corporate loans over EUR 1 million with floating rates and up to three months' fixation, and an 8 basis point increase for smaller loans up to EUR 250,000.
The European Central Bank published a blog post discussing the increasing use of visual communication and plain language by central banks to enhance public understanding of monetary policy, highlighting examples from various global institutions. The ECB noted its own efforts following the 2021 strategy review, including multilingual visual summaries and social media distribution, significantly boosting engagement.
The European Central Bank's Working Paper introduces a semi-parametric framework for modeling extreme tail risk, integrating Extreme Value Theory with a conditional Generalized Pareto Distribution to capture time-varying tail risk in financial returns. Applied to Bitcoin and Ether returns, the model highlights significant tail risk increases during 2022's Terra/Luna, FTX, and Celsius collapses, with performance comparable to complex EVT models and better than standard GARCH in extreme scenarios.
The ADGM Financial Services Regulatory Authority (FSRA) issued an alert about a suspected fraudulent scheme by SGV Advisory FZ LLC or Strategic Global Ventures, falsely claiming FSRA authorization. The entity isn't licensed for regulated activities in ADGM. FSRA advises investors to verify firm permissions via the FSRA Public Register. The website falsely promotes investment opportunities and unauthorized use of an individual's name and image.
The Central Bank of Taiwan will release the Bing Wu Year of the Horse coin set, the tenth in the Chinese Zodiac Commemorative Coin series, with sales managed by the Bank of Taiwan online from January 6-12, 2026, and in branches starting January 29, 2026. A total of 90,000 sets, priced at NT$2,450 each, will be available, with online orders subject to a lottery if demand exceeds supply.
The Central Bank of Taiwan reported foreign exchange reserves of USD 602.55 billion at the end of December 2025, an increase of USD 2.76 billion from the previous month, driven by returns from reserves management and currency exchange rate movements. The market value of securities investment and New Taiwan Dollar deposits held by foreign investors was USD 1,149.9 billion, equating to 191% of the reserves.
Iceland's Ministry of Finance and Economic Affairs is drafting legislation to extend the public's ability to use supplementary pension savings for housing loans for ten years, moving away from annual renewals. The bill, expected to be submitted to the Icelandic Parliament after consultation, will apply retroactively from early 2026, while existing tax-free provisions for first home purchases remain unchanged.
Peru's Superintendence of the Securities Market has updated the minimum share capital requirement for Financial Crowdfunding Platform Administrator Companies to PEN 338,653.24 for 2026, as per Article 22 of the Regulation on Financial Crowdfunding. Firms must maintain net worth at or above this amount, adhering to Article 23's guidelines.
South Korea's Financial Supervisory Service reported an improvement in insurers' capital adequacy under the Korean-Insurance Capital Standard (K-ICS) by end-September 2025, with the sector's K-ICS ratio at 210.8% with transitional measures and 196.8% without. Available capital rose to KRW 274.7 trillion, driven by net earnings and increased comprehensive income, while required capital increased due to higher equity risk amid a stock market rally.
The Central Bank of Seychelles has issued a warning about fraudulent TikTok and Facebook accounts impersonating Governor Caroline Abel, emphasizing that she has no social media presence and advising the public to avoid engaging with these impostors. Official communications are only released through the bank's website and verified channels, and the fraudulent profiles have been reported to the platforms.
The Central Bank of Estonia’s Supervisory Board approved Kaupo Kangro's design for a EUR 15 silver collector coin commemorating the Forest Brothers, to be issued in 2026 with a mintage of 2,500.
The Central Bank of Curaçao and Sint Maarten announced that the passing of Mr. Hushang Ansary has led to a stay in liability proceedings related to Ennia losses, but efforts to recover from other former directors and shareholders will continue. The Joint Court of Justice awaits notification on who will assume Mr. Ansary's position, after which proceedings can resume.
The Kuwait Capital Markets Authority has granted Al-Tijari Financial Brokerage Company a three-year renewable licence to operate as an investment portfolio manager, effective from 5 January 2026, following compliance with Law No. (7) of 2010 and related regulations.
The Kuwait Capital Markets Authority has licensed Middle East Financial Brokerage Company as a qualified securities broker at the Stock Exchange, effective 4 January 2026, replacing its previous securities broker license. This follows Resolution No. (121) of 2025, requiring compliance with the Authority's prerequisites under Law No. (7) of 2010 and the Executive Bylaws.
The Saudi Arabia Capital Markets Authority approved a new regulatory framework effective 1 February 2026, allowing non-resident foreign investors direct access to the Main Market by eliminating the Qualified Foreign Investor concept. This move, following a draft consultation in October 2025, also removes swap agreement regulations and updates investment rules, with international investors' ownership reaching SAR 519 billion by Q3 2025.
The Saudi Arabia Capital Markets Authority approved BAAN Holding Co.'s capital increase from SAR 315 million to SAR 619.97 million through issuing up to 304.97 million ordinary shares to fund real estate acquisitions. The approval confirms compliance with legal requirements, and a shareholder circular will be published before the Extraordinary General Assembly meeting for voting.
The Saudi Arabia Capital Markets Authority approved the public offer of the SEDCO Capital Lombard Global ESG Equities Feeder Fund by Saudi Economic and Development Securities Company, emphasizing that this approval is not a subscription recommendation but confirms compliance with legal requirements.
The Qatar Financial Centre has relocated to a new 6,200 square metre headquarters on Lusail Boulevard, enhancing operational efficiency and client service delivery while positioning itself closer to key financial institutions.
The ADGM Financial Services Regulatory Authority issued an alert regarding a suspected fraudulent scheme by SGV Advisory FZ LLC or Strategic Global Ventures, falsely claiming FSRA licensing and regulatory cover. The FSRA confirmed that Strategic Global Ventures is not licensed or incorporated in ADGM and advised investors to verify firm authenticity and permissions through the FSRA and ADGM Registration Authority's Public Registers.
The OECD's Economic Survey of Portugal forecasts GDP growth of 2.2% in 2026 and 1.8% in 2027, driven by strong domestic demand and moderated inflation. It emphasizes the need for structural reforms to enhance living standards, reduce public debt, support older workers, address housing affordability, and strengthen climate policies.
The Turks and Caicos Islands Financial Services Commission appointed Marlon S. Johnson as Chief Operating Officer, effective 15 December 2025, to oversee operations and support strategic and regulatory objectives. Johnson, with over 30 years of leadership experience, previously served as COO of Paradise Games Ltd. and held roles in The Bahamas Ministry of Finance and Central Bank.
The Trinidad and Tobago Securities and Exchange Commission announced the Virtual Assets and Virtual Asset Service Providers Act, 2025, establishing a regulatory framework for virtual asset activities. A transitional prohibition on conducting such activities as a business is in place until 31 December 2026, unless authorized by the TTSEC under the Act’s Regulatory Sandbox, with specific compliance deadlines and conditions for existing providers.
The Reserve Bank of India has amended its directions on Local Area Banks' financial statement presentation and disclosures, introducing a new Notes to Accounts requirement for related party exposure disclosures effective from 1 April 2026, with an option for earlier implementation.
The National Bank of Denmark reported a December 2025 foreign exchange reserve decline by DKK 8.5bn to DKK 651.1bn, due to a net sale of foreign exchange and government debt repayment, with no market intervention. Liquidity data showed an increase in banks' net position by DKK 19.6bn, and several liquidity figures were corrected on 16 January 2026, while key policy rates remained unchanged since June 2025.
The Central Bank of the Republic of Kosovo reported a current account deficit of EUR 734.04 million by end-October 2025, a 36.8% increase from the previous year, with a goods trade deficit of EUR 4.64 billion and surpluses in services, primary, and secondary income. Direct investment in Kosovo rose 27.85% to EUR 846.75 million, while reserve assets increased by EUR 356.76 million, and gross external debt reached EUR 4.61 billion, driven by rising private sector debt.
The European Securities and Markets Authority has initiated the selection process for a Consolidated Tape Provider for over-the-counter derivatives, with entities invited to register and submit participation requests by 11 February 2026. The provider will consolidate post-trade data into a single electronic stream, with ESMA expecting to appoint the successful applicant by early July 2026 for a five-year term.
The Central Bank of Brazil and the National Monetary Council have introduced rules under Joint Resolution 15 and National Monetary Council Resolution 5,265/2025 to facilitate credit operation transfers via Open Finance, allowing customers to use digital data sharing for credit portability within three business days. Implementation begins with unsecured personal credit in February 2026, with plans to extend to payroll-deducted loans for federal public servants by November 2026.
The Thailand Securities & Exchange Commission has revised mutual fund fee requirements to enhance transparency and align fees with services, effective 1 February 2026. Key changes include annual fee structure reviews, performance fees separate from management fees, and fiduciary duties for trailer fees, with the revised regulations published following a supportive consultation.
The Thailand Securities and Exchange Commission has amended mutual fund share class classification rules to align with international standards and Thai market practices, effective 16 January 2026. The revised framework allows asset management companies more flexibility, introduces criteria for distinguishing share classes, and mandates additional risk management for currency-hedged classes.
The Bank of Lithuania has released financial accounts data detailing the financial assets and liabilities of Lithuania's institutional sectors, with both quarterly and long-term annual series available online.
El Salvador’s Superintendence of the Financial System announced the statutory payment deadlines for pension contributions for 2026 under Article 21 of the Comprehensive Pensions System Law. The deadlines are specified by accrual month, with a note clarifying the reference as the month of affected income or medical leave authorization.
During the Zanzibar International Trade Fair, the Tanzania Insurance Regulatory Authority reported that Minister of Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabiti Kombo, emphasized the need for comprehensive supervision of insurance for foreign visitors entering Tanzania. He directed collaboration between insurance stakeholders and government bodies to ensure visitor insurance products are accessible and meet international standards.
Bank of Indonesia has ceased publication of the Jakarta Interbank Offered Rate (JIBOR) as of 1 January 2026, promoting the Indonesia Overnight Index Average (IndONIA) as the new rupiah benchmark rate. IndONIA, based on actual interbank transactions, replaces JIBOR in the benchmark reform programme. The transition follows a significant shift in contract references and increased interbank market activity.
The China Securities Regulatory Commission held a symposium with key authorities to review and coordinate efforts on the financial fraud prevention system in China's capital markets, as outlined in the State Council's Comprehensive Punishment Opinions. Since 2024, the Commission has addressed 159 fraud cases, issued CNY 8.1 billion in fines, and transferred 112 criminal leads, while focusing on investor recovery and strengthening accountability and enforcement mechanisms.
The Governing Board of the Central Bank of Bosnia and Herzegovina has appointed Tomislav Ivankovic as Vice Governor for the Administration and Finance Sector for a four-year term starting 1 January 2026. Ivankovic previously served as the Central Bank’s Deputy Chief Audit Executive and holds qualifications as a bankruptcy administrator, permanent court expert, and certified internal auditor for the public sector.
The Republic of Serbia Securities Commission announced that amendments to the Capital Markets Law and the Alternative Investment Funds Law took effect on 12 December 2025, aiming to strengthen the regulatory framework and align with EU standards. The changes include technical corrections to the Capital Markets Law and updates to the Alternative Investment Funds Law to incorporate Directive 2011/61/EU and prepare for the European Long-Term Investment Funds Regulation.
The National Bank of Serbia reported December 2025 statistics for its IPS NBS instant payments system, noting 11,119,294 transactions with an average daily turnover of RSD 4,930.0 million and a 1.0-second execution time.
The National Bank of Serbia reported December 2025 statistics for its RTGS and Clearing systems, noting 21.1 million payments and RSD 18,778.0 billion turnover in RTGS, with zero downtime and full system availability. The Interbank and International Foreign Exchange Clearing Systems processed EUR 188,821,732.80 with 100% availability.
The National Bank of Romania reported December 2025 international reserves at EUR 77.017 billion, with foreign exchange reserves at EUR 64.8 billion and unchanged gold holdings valued at EUR 12.217 billion. Foreign exchange reserves decreased from November but increased year-on-year, with inflows of EUR 3.268 billion and outflows of EUR 3.876 billion.
Peru's Superintendency of Banking, Insurance and Pension Funds Administrators (SBS) launched the 27th edition of its Extension Program to train recent graduates in finance, regulation, and risk management. The program includes 27 graduates and seven SBS staff, with a curriculum updated annually to include real case studies and new technologies. Since 1998, the program has produced 993 graduates, with 444 currently employed at SBS.
The Central Bank of Afghanistan met with the Afghanistan Banks Association and commercial bank heads to discuss implementation of newly approved guidelines to shift transactions from cash to electronic payment channels. The meeting focused on coordinated execution of the electronic payments strategy, expanding financial inclusion through digital solutions, strengthening banking systems and services, and encouraging banks to reduce foreign investments in favour of domestic projects and simpler customer procedures.
The China Securities Regulatory Commission held a cross-agency meeting to deepen implementation of the capital market framework for preventing and punishing financial fraud. It reported 159 investigated cases, 111 administrative penalties and CNY 8.1 billion in fines and confiscations since 2024, alongside stronger action against controlling shareholders, third-party accomplices and intermediaries. The next phase will focus on stronger laws, closer administrative, criminal and civil coordination, and a new round of corporate governance measures.
The Office of the Comptroller of the Currency released Community Reinvestment Act performance evaluations for 33 national banks, federal savings associations, and insured federal branches of foreign banks, covering ratings from December 1 to December 31, 2025. The evaluations assess institutions' credit provision to their communities, including low- and moderate-income neighborhoods, with ratings of outstanding and satisfactory.
The Central Bank of Bolivia reaffirmed the use of its US dollar reference value as an informational indicator for transparency and statistical purposes, without altering the official exchange rate. From 2026, the reference selling value for external transactions will include central bank commissions, and daily transaction amounts by banks will be published with the reference buying value.
The Alberta Securities Commission has issued a Notice of Hearing alleging that Jason David Neale, Randal Stewart Thompson, and William Allan Green committed fraud involving nine Old Kent Road investment funds, misusing approximately CAD 17.4 million of investors' capital. A hearing date will be set on February 17, 2026, in Calgary.
The Liechtenstein Financial Market Authority announced that Analytic Management AG's asset management company licence expired on 31 December 2025 due to a written waiver by the firm. Consequently, the firm is no longer authorised to provide or broker services under Article 3 of the Liechtenstein Insurance Contract Act (VVG).
The Ministry of Finance of North Macedonia has launched the process of creating a regulatory framework for crowdfunding, based on European practices and adapted to the domestic market. Following completion of a study reviewing European approaches, the ministry plans to draft legislation to provide a clear and reliable framework for crowdfunding as an additional source of finance, particularly for small and medium-sized enterprises and innovative business ideas.
The Securities and Exchange Commission of Pakistan has amended the Real Estate Investment Trust Regulations, 2022 to simplify procedures, enhance governance, and increase transparency in REIT operations. Key changes include clearer timelines for asset transfers, strengthened roles for management companies and trustees, alignment with Shariah governance, and new income and asset test requirements.
The Isle of Man Financial Services Authority's CEO highlighted the 2026 MONEYVAL onsite evaluation as a key focus, with preparations including meeting submission deadlines and conducting training sessions. The Authority is also finalizing risk assessments for the National Risk Assessment and exploring data and technology initiatives to modernize frameworks and support economic sustainability.
The Brazilian Pension Funds Authority (PREVIC) and Sociedade Ibgeana de Assistência e Seguridade (SIAS) signed a Term of Adjustment of Conduct to align SIAS with pension fund licensing and solvency requirements. The agreement mandates closing the Regime Jurídico Único (RJU) plan and establishing a new defined contribution plan within 25 months. This action addresses technical shortcomings in the RJU plan, including a non-contributory sponsor and insufficient capacity to pay benefits long-term.
The Brazilian Pension Funds Authority (PREVIC) instructed Closed Supplementary Pension Entities to pay the Complementary Pension Supervision and Control Fee for the first four-month period of 2026 by 12 January. The fee is based on the "recursos garantidores" value from the September 2025 accounting statement, with late payments incurring interest and penalties per PREVIC Resolution 23/2023. Payment guides must be generated through PREVIC’s SIA online system, requiring a Gov.br account.
The Capital Markets Board of Türkiye is accepting electronic applications for education seminars for university students, scheduled from 26 to 30 January 2026 online and in person in Ankara, with applications open until 16 January 2026 via Türkiye’s e-Government portal. Participants will receive a certificate upon completion.
The Central Bank of Afghanistan called on commercial banks to implement the electronic payments strategy, strengthen digital services and expand financial inclusion. It also urged banks to reduce overseas investments, fund more public-benefit projects within Afghanistan and simplify customer procedures.
The Vietnam State Securities Commission announced that the Ministry of Finance issued Circular 135/2025/TT-BTC, updating the regulatory framework for securities practitioners. This new circular, effective 9 February 2026, repeals Circular 197/2015/TT-BTC.
The Vietnam State Securities Commission updated the Ministry of Finance’s circular amending the roadmap for reorganising Vietnam’s securities trading markets. The revised roadmap extends the deadline for transferring listed companies’ shares from the Hanoi Stock Exchange to the Ho Chi Minh Stock Exchange to 31 December 2026. This aims to support synchronisation and stability, with the Ho Chi Minh Stock Exchange required to complete the receipt of transferred shares accordingly.