The Bank of Cape Verde has begun visits to all six authorized and supervised microfinance institutions. The program will assess their operations and gather input to improve supervision and the regulatory framework.
Mexico’s CONDUSEF and the Mexican Institute of Public Accountants have signed an agreement to expand financial education through professional and business networks. They will distribute educational materials and provide training on financial decisions, fraud prevention and consumer rights.
The Central Bank of Paraguay’s Monetary Policy Committee unanimously held the monetary policy rate at 5.50%, maintaining a neutral stance amid low inflation and resilient economic activity. It projects 2026 growth of 4.5% and year-end inflation of 3.3%, converging to the 3.5% target, while monitoring heightened external risks.
Greece’s Ministry of National Economy and Finance has introduced enhanced primary residence protection under the Out of Court Debt Settlement Mechanism. Borrowers may obtain a settlement based only on the home’s value in exchange for liquidating other property, while compliant borrowers are protected from enforcement against the primary residence.
The Dominican Republic's Pensions Superintendency awarded its pension education certification to The Butcher Shop Distrito Gastronómico, the first gastronomic products retailer to receive it. The designation requires more than 70% of employees to complete education on the pension system and related financial benefits.
The Federal Reserve Bank of Dallas lowered its 2026 Texas employment growth forecast to 1.2 percent, largely because of first-quarter benchmark revisions. The forecast implies 173,600 additional jobs and employment of 14.5 million by December, while the statewide unemployment rate fell to 4.4 percent in August.
The Canadian Investment Regulatory Organization reported more than CAD 16.2 million in sanctions and fines for 2026, with 16 suspensions and 10 permanent bars. It also introduced an exam-based proficiency regime, revised guidance for non-tailored advice and launched the InnovateSafe regulatory sandbox. Its Strategic Plan has been extended by one year while the board searches for a successor to President and CEO Andrew Kriegler.
The US Commodity Futures Trading Commission will hold public roundtables on emerging financial technologies and market structures. The first forum, focused on artificial intelligence and agentic finance, is scheduled for Oct. 28, 2026.
The Taskforce on Nature-related Financial Disclosures found that more than 1,000 organizations across 56 countries or areas have issued TNFD-aligned disclosures, double the 2025 total. More than 70% of surveyed market participants supported mandatory reporting, while 802 organizations, including financial institutions with USD 26.6 trillion under management, have committed to adopting the recommendations.
The Bank of Italy will hold public events in Forlì on Sept. 22-23, 2026, focused on payment innovation, the digital euro and electronic payment fraud. The program includes an expert roundtable, an open day and guidance on fraud prevention and consumer protection.
The Central Bank of Poland published the results of its September 21, 2026 sale auction for National Bank of Poland bills, conducted as its main open market operation.
The Central Bank of Russia has begun publishing anonymized data on over-the-counter ruble interest rate swaps, with weekly updates subject to a seven-calendar-day lag and plans to expand the statistics to other derivatives.
The Luxembourg Ministry of Finance has completed the country’s first vertical assessment of risks from breaches, circumvention or nonimplementation of international financial sanctions related to terrorist financing and proliferation financing. Luxembourg’s cross-border financial flows and international business create exposure, particularly for legal structures and certain nonfinancial sectors, although existing public and private controls significantly reduce the risks.
The National Bank of Moldova has completed a three-year project to embed continuous learning and knowledge sharing across the institution. The initiative created professional communities, development programs, learning tools and collaboration mechanisms that will support staff development, institutional capacity and wider knowledge exchange.
Mexico’s National Commission for the Protection and Defense of Financial Services Users handled 4,114 complaints in Coahuila from January through August 2026, a 13.4% annual increase, and recovered MXN 21.5 million for users. Multiple banking institutions generated 61.3% of complaints, while 26.1% of all cases involved possible fraud.
The Norwegian Ministry of Finance urged the European Commission to ensure planned improvements to bank regulation do not weaken banking system resilience.
The Network for Greening the Financial System has updated its supervisory guide for climate and nature-related financial risks. The guide expands coverage of nature risks, transition planning, adaptation, stress testing, legal exposure and disclosures, while offering proportionate recommendations that supervisors can adapt to their mandates and resources.
The UK Financial Conduct Authority has taken Hunter Jones to the High Court over allegations that it conducts regulated activity without authorization. The regulator is seeking to stop the activity and require money to be returned to investors, but the court has not determined the claim.
The National Securities and Stock Market Commission of Ukraine and the Ukrainian Chamber of Commerce and Industry signed a memorandum to help businesses raise financing through capital markets. They will provide practical guidance to prospective issuers and collect company feedback on barriers to inform possible deregulation and regulatory changes. The initiative also emphasizes investor protection and stronger enforcement.
The Central Bank of the Republic of Azerbaijan scheduled an actuarial certification assessment for Süsən Azər qızı Orucova at 2 p.m. on October 12, 2026, with identification required for admission.
The Bermuda Registry General has restricted eligibility for certified birth certificates to reduce identity theft and fraud risks. Access is now limited to the person named, specified relatives and authorized, legal or public officials, while public register searches and plain copies remain available.
The Croatian Financial Services Supervisory Agency ordered Mobil Leasing to remedy risk management, interest rate, fee and recordkeeping deficiencies, including reviewing certain charges dating from 2023. It also warned an individual for trading Jadroagent shares during a 30-day closed period and approved Mediobanca Premier and Intesa Sanpaolo each to acquire an indirect 10% to 19.99% holding in Generali Osiguranje.
European Central Bank survey analysis found that the Middle East conflict raised euro area firms’ cost, selling price and wage expectations, with trade firms, exporters and SMEs reporting the greatest exposure. Expected demand and profits weakened, particularly among highly exposed firms. About two-thirds of respondents were seeking alternative suppliers, investing in energy efficiency or renewables, or finding alternative energy sources.
The Angola Capital Markets Commission joined the country’s delegation for the latest FATF review under enhanced monitoring. Angola presented and defended progress made from April through August 2026 on its agreed action plan to strengthen controls against money laundering and terrorist financing.
The Kazakh regulator approved three senior accounting appointments at ForteBank and its Home Credit Bank subsidiary, covering one chief accountant and two deputy chief accountant roles.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan outlined a shift toward preventive, risk based supervision of microfinance organizations. Priorities include stronger firm-level risk controls, proportional oversight, self regulation of microfinance and collection activities, and enhanced borrower protection. Conduct supervision will assess fair customer treatment throughout the financial product lifecycle.
The U.S. Department of Justice secured a 112 month prison sentence for former Nodus International Bank CEO Tomás Niembro Concha over a fraud that obtained at least USD 24.9 million from the bank and a conspiracy to evade Venezuela related sanctions. Niembro must also forfeit more than USD 16.9 million and serve three years of supervised release.
The U.S. Department of Justice secured a four-year prison sentence against former Vitol trader Javier Aguilar for bribery schemes involving officials linked to Ecuador’s and Mexico’s state-owned oil companies. Aguilar must also forfeit USD 7.13 million and pay a USD 100,000 fine.
The New York State Department of Financial Services will begin directing large frontier AI developers to register in November 2026, ahead of RAISE Act compliance from January 2027. Covered developers must publish safety frameworks, report critical incidents within 72 hours and submit quarterly catastrophic-risk assessments to the new DIGIT office. Marc Gilman has been appointed deputy director for the law’s implementation.
The European Central Bank is preparing to invest a small portion of its own funds in tokenised securities, with settlement in central bank money through Pontes. Initial purchases will target euro-denominated public sector and European supranational securities. The Executive Board will determine operational details and timing after the preparatory work.
The European Central Bank announced the launch of Pontes, allowing wholesale tokenised asset transactions to settle in central bank money. An initial group of market participants and distributed ledger technology operators can use the service immediately, with functionality and operating hours set to expand toward full implementation by 2028. The longer-term Appia initiative is developing a blueprint for an integrated tokenised financial ecosystem.
Central Bank of Syria Governor Safwat Raslan called for concrete Arab economic and banking partnerships to support production, employment, reconstruction and sustainable growth during a regional conference in Amman.
The Central Bank of Paraguay has launched its CDA-d system, allowing authorized banks and finance companies to offer fully digital savings deposit certificates. The central bank’s Securities Depository will centralize registration, custody, clearing and settlement. Digital and paper certificates will coexist for at least two years.
The Central Bank of the Republic of China reported lower interbank lending and bond repo activity in August 2026, while bond, derivatives and gold trading increased. The 10-year government bond yield ended at 1.69%, and the renminbi appreciated 0.41% against the U.S. dollar to 6.7198.
People's Bank of China Gov. Pan Gongsheng and senior Hong Kong officials discussed financial market connectivity, the offshore renminbi market and Hong Kong’s role as an international financial center.
The People’s Bank of China consulted 15 foreign financial institutions on improving business conditions and further opening the financial sector. Governor Pan Gongsheng reiterated plans to expand two-way market access, improve cross-border payments and facilitate international renminbi use while maintaining an appropriately accommodative monetary policy.
The Central Bank of Kenya and the National Treasury are consulting on a draft policy and bill to modernize the national payment system. The bill would repeal the existing National Payment System Act and introduce a framework covering competition, innovation, risk management, consumer and data protection, and financial stability.
The Egypt Financial Regulatory Authority approved 11 firms and entities across investment funds, acquisition focused venture capital, reinsurance brokerage, debt collection and health care program administration. Four new collection registrations raised the total to eight firms, while two provisional health care administration licenses increased that total to 11.
Hong Kong Securities and Futures Commission Chairman Dr Kelvin Wong previewed a September 23 statement setting out strategic actions for the capital markets. The agenda will support Hong Kong’s offshore renminbi, asset and wealth management, and risk management functions while balancing market development with investor protection and integrity.
Andorra's government has approved draft legislation preparing the Andorran Financial Authority to access external euro liquidity, including through the Eurosystem repo facility for central banks. The authority could use high-quality bank collateral to obtain and channel funding to eligible, solvent institutions, while Andorra’s EUR 250 million international reserve framework remains unchanged.
The Bank of the Lao PDR has launched a 10-day training program on party inspection work in the banking sector. Its 13 modules cover inspection, anti-corruption work, complaint resolution, investigations and the handling of inspection findings.
The National Bank of the Kyrgyz Republic fined three individuals KGS 17,500 each for unlicensed cash foreign currency exchange and four Bishkek exchange bureaus KGS 55,000 each for regulatory violations.
National Bank of the Kyrgyz Republic staff participated in a nationwide cleanup on Sept. 19 to mark National Cleanliness Day.
The National Bank of the Republic of Tajikistan received TJS 38 million in bids for a TJS 100 million credit auction at an annual rate of 7.03%.
Poland's Ministry of Finance backed an EU windfall tax on oil companies, with proceeds potentially used to reduce energy and fuel costs for vulnerable households and businesses. At an informal EU finance ministers' meeting, Poland also supported deeper banking integration, safeguards for cryptoasset risks and investment in domestic AI capabilities and public-sector applications.
The Czech National Bank will issue 200,000 anniversary CZK 5,000 banknotes on Sept. 22, 2026, marking 100 years since its predecessor began operations. The legal tender notes will be available at four central bank cash offices in exchange for banknotes of the same value, with a limit of three per person.
The Central Bank of Cyprus reported a EUR 19.276 billion contractual loan balance in the credit facility management and credit acquiring sector at June 30, 2026. The nonperforming loan ratio remained broadly unchanged at 94.6%, while properties held by credit acquiring companies declined in both number and market value.
The Egypt Financial Regulatory Authority is reviewing creditor proposals to improve the services, procedures and electronic system of the Egyptian Movable Collateral Registry. Notices reached 285,015 at the end of August 2026, with a value of about EGP 4.6 trillion. Proposed changes will undergo technical and legal assessment before implementation priorities are set.
The Central Bank of Egypt reported that expatriate remittances increased 28.1% to about USD 29.7 billion in January-July 2026, including a 20% rise to USD 4.5 billion in July.
The Croatian Financial Services Supervisory Agency reported that mandatory pension fund assets reached EUR 29.1 billion and UCITS assets rose 1.8% to EUR 4.9 billion in August. Insurance premiums increased 6.9% year over year in the first eight months of 2026, while Zagreb Stock Exchange turnover fell 46.6% from July.
Ukraine National Commission on Securities and Stock Market Chair Oleksii Semeniuk outlined plans to diversify a market in which government bonds account for about 80% of securities activity. Priorities include simpler issuance, personal investment accounts, corporate and municipal bonds, securitization, virtual assets rules and tokenization. The number of unique investors reached 271,300 as of Aug. 1, 2026, nearly 12 times the level at the start of 2022.
The Spanish National Securities Market Commission reported that listed companies’ adherence to governance recommendations rose to 88.7% in 2025, while women’s board representation reached 37.4%. Average pay per director increased 12.2% to EUR 477,000, and executive director pay excluding extraordinary items was 42 times average employee remuneration. The regulator also called for clearer disclosures on nonfinancial performance measures and significant remuneration changes.
Norway’s Department of Finance has identified the financial institutions considered systemically important in Norway.
Ceres estimates that regenerative agriculture could protect up to USD 500 million in annual profits for some food companies as climate related commodity shocks intensify. At 3 degrees Celsius of warming by 2060, financial impacts for buyers of six major commodities could reach two to six times current levels. Ceres is also expanding its Food Emissions 50 investor initiative under the new name Cultivate.
CDP identified USD 397 billion in anticipated corporate impacts from water risks, based on disclosures from more than 6,500 companies. More than one-third lack a systematic water-risk process, while USD 45 billion of anticipated impacts arises upstream in supply chains. Companies also reported USD 925 billion in anticipated water-related opportunities.
The Oman Financial Services Authority will explain the new Executive Regulation of the Securities Law at a September 23 conference. The briefing will cover key changes, compliance requirements and implementation mechanisms during the adjustment period.
The Financial Conduct Authority has announced cross-sector measures to expand protection insurance coverage after finding that 58% of adults lack life insurance, critical illness cover or income protection. Initiatives will target disproportionately unprotected groups through consumer prompts, awareness work and improved adviser discussions. The FCA plans no new market-wide measures but will act against firms that fall short of existing requirements.
The Pensions Regulator found strong pension scheme interest in private markets but identified barriers including capability gaps, opaque fees and limited suitable opportunities. It will challenge trustees through supervision to assess whether their investment strategies, scale and governance support such investments in members’ interests.
The Swiss Financial Market Supervisory Authority has appointed Partners Group Chief Financial Officer Joris Gröflin to the Swiss Takeover Board from Jan. 1, 2027, through the end of 2027. He will succeed Beat Fellmann, who steps down at the end of 2026.
The World Bank Group’s International Finance Corporation priced a GBP 500 million floating rate note at SONIA plus 30 basis points, its first SONIA linked issuance since 2019. The bond matures on Dec. 15, 2031, with banks and bank treasuries receiving 77% of the allocation.
The South Korea Financial Services Commission reviewed KRW 102.6 trillion of Chuseok-related funding and an expanded KRW 12.3 trillion support package for small businesses. Nine banks are piloting an AI-based credit assessment using nonfinancial data, with seven more expected to join by year-end. Debt restructuring and interest-cost relief measures remain part of the support framework.
The OECD found that Ukrainian SME financing improved in 2024, with stronger loan demand, lower rates and more than 20% growth in net hryvnia-denominated business lending. Outstanding SME loans reached UAH 521 billion, while the Affordable Loans 5-7-9% program provided UAH 94.7 billion through more than 25,000 contracts. Wartime risks remain the principal constraint on further credit expansion.
The Organisation for Economic Co-operation and Development found that Finnish SME lending recovered to EUR 12.7 billion in 2024 and average borrowing costs fell to 4.54%, but access constraints persisted. Payment delays reached 17 days and bankruptcies rose to a 2008-2024 high of 3,488. Start-up financing rebounded to about EUR 1.4 billion, although private venture capital continued to decline.
The Central Bank of Montenegro has begun implementing its Needs Assessment recommendations and established a Coordination Body to oversee priorities, deadlines and resources. The measures cover policy, supervision, payments, technology, data, cybersecurity and staffing to prepare the bank for ESCB membership upon Montenegro’s EU accession and later Eurosystem integration.
The OECD reported that new Danish SME lending declined 8% to DKK 42 billion in 2024, while SME interest rates fell from 8.97% to 4.91%. Venture and growth capital remained high at EUR 1.117 billion, and SME bankruptcies dropped from 2,448 to 1,999. Denmark’s Entrepreneurship Package allocated more than DKK 2 billion to financing mandates and made several government-backed schemes permanent.
The Organisation for Economic Co-operation and Development reported that outstanding Polish SME loans rose by PLN 37.2 billion to PLN 270.6 billion in 2024, reaching 61.34% of business lending. SME nonperforming loans and interest rates declined, while public guarantees continued to support access to credit. Venture capital investment strengthened in the first quarter of 2025 despite continued weakness in some microenterprise lending categories.
The Bank of France estimates that GDP will grow by 0.1% in the third quarter of 2026 as market services support activity and industry recovers from summer disruption. Businesses expect stronger industrial and services growth in September, but weak construction order books, political uncertainty and input cost pressures continue to weigh on the outlook.
The OECD finds that capital markets can support growth when they address specific financing constraints, with the clearest evidence relating to equity funding for innovation. Market based debt offers less certain advantages over bank lending and can create risks when credit expands excessively. The shift toward private markets and greater market concentration may also weaken disclosure, price discovery and diversification.
The Organisation for Economic Co-operation and Development identifies concentrated suppliers, upstream dependencies and severe data gaps in European Union medical supply chains. It proposes international monitoring, joint procurement and pooled reserves, supported by stronger early-warning indicators, private-sector data sharing and interoperable digital systems.
National Bank of Hungary Governor Mihály Varga said the AI based Central Fraud Detection System has reviewed almost 390 million domestic instant transfers in real time. Addressing an informal EU ministerial and central bank meeting, he called for stronger international cooperation and a balance between innovation and regulation to support competitiveness and counter cyberfraud.
The UK Financial Conduct Authority found that firms closed 238,396 suspected money mule accounts in 2025, while repeated account use and cash-outs concentrated between the second and fifth mule accounts indicated organized criminal networks. Firms should strengthen risk-based detection, linked-account analysis and intelligence-sharing, with the FCA set to monitor their responses through supervision.
The European Central Bank found that the 2026 energy shock has so far been smaller than the 2021-22 crisis, while increased renewable generation has weakened the link between gas and wholesale electricity prices. Wholesale gas prices are feeding through to consumer gas inflation more quickly, but electricity price pass-through remains uneven and broadly unchanged from 2022.
A European Central Bank working paper finds that supply-driven inflation narratives are associated with higher inflation risk premia in the euro area and United States, while demand-driven narratives correspond with lower premia. The relationship holds across multiple maturities and is not explained away by standard macroeconomic, survey or large language model-based measures.
A European Central Bank working paper links fragmented capital buffer frameworks to higher capital headroom and weaker corporate lending growth. A one standard deviation increase in fragmentation is associated with 26 to 36 basis points of additional headroom and 0.5 to 0.9 percentage point lower lending growth, with the strongest effect among banks holding little spare capital.
The Securities and Exchange Commission of Central Africa withdrew the licenses of Axiome Capital and Premium Capital Securities.
The Vietnam State Securities Commission canceled the tender for auditing its specialized data warehouse project after both submitted bids failed to meet the technical requirements.
The Banking Agency of the Federation of Bosnia and Herzegovina is recruiting one payment systems supervision professional in Sarajevo.
The Central Bank of Russia will issue three Golden Antelope commemorative coins on Sept. 22, including one silver and two base metal versions. Mintages range from 7,000 to 850,000, and all three coins will be legal tender at face value.
The UAE Ministry of Justice has completed preparations to host the 15th United Nations Congress on Crime Prevention and Criminal Justice from Sept. 26 to Oct. 1, 2026. The draft Abu Dhabi Declaration, intended to guide global priorities for the next five years, is 98% agreed and scheduled for adoption on the first day. The congress is expected to draw 3,000 to 5,000 participants from more than 97 countries.
The National Bank of Moldova reported that individuals’ net foreign currency supply covered 110.3% of businesses’ net demand in August 2026, up from 100.2% in July. The central bank made EUR 19 million in net interbank market purchases as business demand fell more sharply than supply from individuals.
The National Bank of Moldova reported that licensed banks held a net long foreign exchange position of MDL 570.6 million at the end of August. The position was driven by a MDL 582.8 million euro long position, partly offset by short positions in U.S. dollars and Russian rubles.
China's National Financial Regulatory Administration convened regulators from ASEAN and neighboring countries to discuss cross-border financial risks and AI supervision. Participants called for deeper regional cooperation as new technologies change how financial risks emerge and spread.
Dimitrios Tsomocos has been appointed deputy governor of the Bank of Greece for a six-year term. He will be sworn in on Sept. 24, 2026, joining Governor Yannis Stournaras and Deputy Governor Christina Papaconstantinou.
The Bank of Greece reported that the current account deficit widened by about EUR 1.5 billion to EUR 9.3 billion in January to July 2026 as weaker income balances outweighed improvements in goods and services. The July surplus fell significantly to EUR 218.5 million, while reserve assets rose to EUR 19.5 billion.
The Croatian National Bank has released 500,000 City of Vukovar commemorative 2 euro coins, including 490,000 for public exchange. Individuals may reserve up to five coins, with exchanges beginning Nov. 9, 2026.
The National Bank of Ukraine will broadcast the second day of its annual research conference on September 22, 2026, focusing on central bank resilience, credibility and innovation. Speakers will include Martin Kocher, Kristalina Georgieva and Christine Lagarde.
The National Bank of Ukraine identified resilience, credibility and innovation as central banking priorities amid rapid geopolitical and technological change. Ukraine’s wartime experience highlights the need for banking system preparedness, coordinated crisis protocols and payment continuity, including during attacks on bank data centers.
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye reported judicial action against numerous suspects linked to illegal structures exploiting motor accident claims. The action followed an agency investigation that identified activities considered criminal and billions of TRY in alleged illicit gains.
The Capital Markets Board of Türkiye extended the period specified for fund liquidations from three to six months to facilitate asset sales under more suitable conditions. Liquidations may be completed earlier, and all other provisions remain unchanged.
The Indonesia Financial Services Authority has established a framework for demutualizing Indonesia’s stock exchange, allowing Indonesian individuals and legal entities, including nonmembers, to own exchange shares. Shareholdings are ordinarily capped at 5%, larger stakes require regulatory approval, and majority ownership is prohibited. The rules took effect on Sept. 17, 2026.
The Bank of Italy will launch the fourth Milano Hub call for proposals on Sept. 23, 2026, presenting its theme, participation requirements, application procedures and deadlines at the Italian Banking Association’s WeSec event in Milan.
The European Commission reported that the Global Green Bond Initiative Fund began operations in summer 2026, while technical assistance is preparing issuances in 15 partner countries. The fund is expected to approach EUR 3 billion and forms part of an initiative seeking to mobilise up to EUR 20 billion in private capital for sustainable infrastructure.
The Saudi Capital Market Authority approved the timetable and offer document for Knauf International GmbH’s bid to acquire all shares in United Mining Industries Company. The approval confirms compliance with applicable legal requirements and does not endorse the acquisition’s feasibility.
The Saudi Arabia Capital Markets Authority approved Retal Urban Development Co.’s proposed capital increase from SAR 500 million to SAR 555 million through 55 million new ordinary shares to acquire 47.5% of Ajdan Real Estate Development Company. Shareholders will receive a circular before voting, and the approval does not constitute an endorsement of the transaction’s feasibility.
Saudi Arabia’s Capital Market Authority approved Ades Holding’s capital increase from SAR 1.13 billion to SAR 2.26 billion through a one for one bonus share issue. The company must hold an extraordinary general assembly within six months and meet applicable regulatory requirements.
The Saudi Arabia Capital Market Authority approved Allied Cooperative Insurance Group’s plan to raise its capital from SAR 291 million to SAR 300 million through an offering of 900,000 shares without preemptive rights. The company must obtain extraordinary general assembly approval within six months and disclose the transaction details before the vote.
The Central Bank of the Solomon Islands will release an updated SBD 100 banknote in October 2026 with an enhanced color changing security thread. It will retain the existing design and circulate alongside the current note.
Australia's Department of the Treasury has proposed allocating a AUD 170.262 million Compensation Scheme of Last Resort special levy across financial advice, responsible entities of managed investment schemes and 21 other retail-facing subsectors. The consultation covers the methodology for linking subsectors to underlying losses and the potential viability effects of the allocations.
Fundo Loans paid an AUD 19,800 ASIC infringement notice over an allegedly misleading claim that it offered loans of up to AUD 5,000 with no credit checks. Fundo required all applicants to consent to a credit check and checked some applications, while payment of the notice does not constitute an admission of liability.
The South Korea Financial Services Commission launched easier policy financing for early stage startups and plans to expand its small business package from KRW 10.5 trillion to more than KRW 12 trillion. It also advanced a specialist strategic technology investment manager targeting up to KRW 10 trillion over five years and decided to abolish joint and several guarantees for small business primary collateralized bond obligations.