The Banking Agency of the Federation of Bosnia and Herzegovina has repealed its previous decision on special measures for leasing companies and microcredit organizations in response to the October 2024 floods. This decision was published in the Official Gazette of the Federation of Bosnia and Herzegovina (No. 87/25).
The Banking Agency of the Federation of Bosnia and Herzegovina released preliminary data on the banking system's operations as of 30 September 2025. This aims to provide timely information on basic performance indicators. Final data will be published in the quarterly report.
Bolivia's Ministry of Finance announced new leadership at the Central Bank of Bolivia, appointing David Iván Espinoza Torrico as President and four new board members. President Rodrigo Paz Pereira emphasized restoring credibility, institutional independence, fiscal discipline, and transparency. Minister José Gabriel Espinoza Yáñez outlined priorities to end monetary issuance for public spending, regulate the foreign exchange market, and ensure BCB's technical autonomy.
Bolivia's Ministry of Economy and Public Finance announced new appointments to the Central Bank of Bolivia (BCB), with David Iván Espinoza Torrico as Chair and four new board members. President Rodrigo Paz Pereira emphasized the Central Bank's role in restoring national credibility, while Minister José Gabriel Espinoza Yáñez highlighted priorities like ending public spending financing through monetary issuance and ensuring the BCB's technical autonomy.
The Hong Kong Securities and Futures Commission fined Tung Tai Securities Company Limited HKD 900,000 for unauthorised sales of client securities and fund transfers. Tung Tai acted on a fraudulent email, transferring USD 3,301,740 to non-designated overseas accounts despite red flags. The SFC considered the firm's internal control failings, remedial actions, client compensation, and cooperation in determining the sanction.
The Hong Kong Securities and Futures Commission issued a circular detailing enhancements to the Cross-boundary Wealth Management Connect Pilot Scheme to improve communication between participating licensed corporations and clients. New arrangements allow Participating LCs to obtain one-off written consent from Southbound Scheme clients for product information explanations and research report provision. The SFC will continue collaborating with the industry and regulatory authorities to enhance the scheme.
The Financial Services Regulatory Authority of Ontario has fined Gurpreet Singh Ghuman CAD 80,000 for operating as a life insurance agent without a license, violating section 392.2(6) of Ontario’s Insurance Act. The penalty was imposed following Ghuman's withdrawal of his hearing request before the Financial Services Tribunal.
Greece's Finance Minister Kyriakos Pierrakakis, at an ECOFIN meeting, advocated for targeted tax treatment under the EU Energy Taxation Directive, proposing a ten-year exemption for aviation and shipping and a permanent exemption for agriculture. He highlighted the risks of a uniform approach, stressing the need to balance sustainability with competitiveness. Taxation in shipping and aviation could disadvantage Mediterranean countries, and agricultural exemptions are linked to food security.
Sweden's Riksbank's Financial Stability Report highlights financial stability risks from global uncertainty and market risk-taking, despite global system resilience. It emphasizes maintaining post-crisis regulatory standards and addressing risks from household leverage, commercial real estate, and stablecoins. The report warns of vulnerabilities from proposed mortgage-rule easing and stablecoin expansion, advocating for international regulatory harmonization.
The Australian Prudential Regulation Authority released notes from Chair John Lonsdale's remarks at the Insurance Council of Australia CEO roundtable on regulatory balance, attended by general insurance executives, APRA colleagues, and senior representatives from the Australian Securities and Investments Commission.
The Austria Financial Market Authority's 2025 report on the Austrian insurance industry highlights strong capitalisation with a median solvency ratio of 264% and assets under management of EUR 130.2 billion. The report notes a shift in investment strategies, with a decrease in government and corporate bonds to 34% and an increase in illiquid investments to 41%. Insurers' interdependency with the banking sector has also decreased by about one-third over the past decade.
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing messages linked to five banks, including The Bank of East Asia and ZA Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority has launched EnsembleTX, initiating Project Ensemble's pilot phase to facilitate real-value transactions with tokenised deposits and digital assets. The pilot, involving banks and industry pioneers, focuses on tokenised money market fund transactions and real-time liquidity management, initially using the HKD Real Time Gross Settlement system. The HKMA and the Securities and Futures Commission will collaborate to advance tokenisation use cases across asset classes.
The Hong Kong Monetary Authority reported the unaudited financial position of the Exchange Fund at end-September 2025, with investment income of HKD 274 billion for the first three quarters. Total assets rose to HKD 4,152.2 billion, and the accumulated surplus reached HKD 916.3 billion. Income was primarily driven by gains on bonds, equities, currency translation effects, and fees from placements by the Fiscal Reserves and HKSAR Government funds.
Uganda's Ministry of Finance outlined initiatives at the Annual Financial Inclusion Forum 2025 to enhance financial inclusion and support the Tenfold Economic Growth Strategy. Key programs include the Parish Development Model, Emyooga, and various financing schemes, with significant disbursements under the Uganda Agriculture Insurance Scheme. The 2023 Finscope Report highlighted an increase in adult financial inclusion to 81%, driven by mobile money, with calls for more inclusive products.
Toshiyuki Miyoshi, Vice Minister for International Affairs at Japan’s Financial Services Agency, has been elected Chair of the International Association of Insurance Supervisors (IAIS) Executive Committee, succeeding Shigeru Ariizumi. Under Ariizumi, the IAIS finalized the Insurance Capital Standard and advanced its strategic plan and global policy engagement. Miyoshi's term will extend until November 2027.
The Cyprus Securities and Exchange Commission (CySEC) has withdrawn the Investors Compensation Fund (ICF) membership of BrightPool Ltd, VPR Safe Financial Group Ltd, and FIBO Markets Ltd following the revocation of their Cyprus Investment Firm authorisation. Despite the loss of ICF membership, clients retain the right to compensation for prior investment operations if conditions are met.
The Isle of Man Financial Services Authority's November 2025 bulletin outlines supervisory and policy priorities, including proposed fee changes and regulatory reporting streamlining. It highlights MONEYVAL training, risk assessments, and guidance on Commercially Exposed Person risks, greenwashing, and registered office address services. Stakeholders are invited to provide feedback on fee changes.
The Bulgarian National Bank issued an ordinance detailing procedures and criteria for appointing registered auditors and external experts under the Act on Credit Servicers and Purchasers. It outlines qualifications for assessing non-performing loan receivables and compliance with Article 8(11) of the Act, and sets the framework for maintaining lists of these professionals, including registration and removal processes.
The National Bank of Bulgaria has adopted a new ordinance detailing the form and content of its balance sheet and income and expenditure statement, effective 1 January 2026. This aligns with the European Central Bank’s Guideline (EU) 2024/2941 on the accounting and financial reporting framework of the European System of Central Banks. The National Bank will publish weekly, monthly, and annual financial statements on its website.
The Agency for Regulation and Development of the Financial Market of Kazakhstan announced priorities for digitising financial supervision and regulating AI, referencing OECD and BIS principles. It reported 75% of Kazakhstan’s banks use AI, facing challenges like lack of unified standards, data quality issues, and skilled personnel shortages. The Agency emphasized investment in computing capacity and cybersecurity, and noted the consolidation of its SupTech and RegTech tools into a single digital platform.
The Reserve Bank of India issued the Foreign Exchange Management (Export of Goods and Services) (Second Amendment) Regulations, 2025, extending time periods in the export framework. Key amendments include changing "nine months" to "fifteen months" in Regulation 9 and "one year" to "three years" in Regulation 15. These changes are effective upon publication in the Official Gazette.
Qatar Central Bank Deputy Governor H.E. Sheikh Ahmed bin Khalid bin Ahmed bin Sultan Al Thani participated in the Financial Stability Board Regional Consultative Group for the Middle East and North Africa meeting in Istanbul, where agenda topics were discussed and decisions made.
The Union of Arab Securities Authorities reported that the Regional Committee for Africa and the Middle East held its annual meeting in Abu Dhabi, discussing IOSCO’s workplan, AMERC activities, and capital market development. Concurrently, a conference hosted by Abu Dhabi Global Market addressed tokenisation and private credit growth, focusing on implications for capital markets, regulation, and investor protection.
The Middle East and North Africa Financial Action Task Force (MENAFATF) concluded its 41st Plenary Meeting by adopting member follow-up reports and setting leadership priorities, with Bahrain approved as Vice-President for 2026 and joint UAE-Bahrain presidency priorities endorsed for 2026-2027. Discussions included support from Arab central bank governors, governance projects, and reviews of studies on financial sanctions, emerging crimes, and money laundering.
The Middle East and North Africa Financial Action Task Force (MENAFATF) concluded its 41st Plenary in Manama, setting leadership and work priorities for 2026-2027, including Bahrain's vice-presidency and joint presidency priorities with the United Arab Emirates. The Plenary also addressed governance enhancements, implementation challenges for financial sanctions, and trends in money laundering and terrorist financing.
The Central Bank of the Republic of Uzbekistan held a roundtable with banking sector representatives to discuss financial stability and upcoming changes to prudential requirements on capital adequacy and liquidity. The session covered planned regulatory revisions, macro stress test results, systemic risks, and guidance for banks on risk mitigation.
The South Africa Financial Sector Conduct Authority has imposed penalties totaling ZAR 2.1 million and a 20-year debarment on Ms Chantelle Kleynhans and Mr Pieter Willem van der Walt for unauthorized financial services. They solicited public deposits, promising foreign exchange trading. The FSCA will refer the case to the South African Police Service and advises the public to verify authorization status and be cautious with unsolicited investment offers.
The Central Bank of Jordan hosted a delegation from the State Audit Bureau to discuss internal audit activities, emphasizing ongoing cooperation to enhance governance, transparency, and institutional performance. Deputy Governor Dr. Khaldoun Al-Washah and the Secretary General of the State Audit Institution highlighted the importance of internal audit in maintaining monetary and financial stability.
Uzbekistan’s Ministry of Finance will host the third Public-Private Partnership Roundtable in Tashkent on 18-19 November 2025 to boost private sector involvement in the Uzbekistan-2030 Strategy and a USD 30 billion PPP project programme by 2030.
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the CQCS Insurtech e Inovação event, highlighting regulatory developments and innovation priorities in the insurance market. Superintendent Alessandro Octaviani emphasized Law 15.040/2024 for sector confidence and Complementary Law No. 213/2025 for competition, while addressing natural catastrophe risks and protection gaps. SUSEP's innovation strategy includes regulatory dialogue and cooperation agreements, such as with IMPA Tech for professional training.
The Bank for International Settlements’ Financial Stability Institute has published an FSI Insights paper outlining a framework and good practices for technology-related capacity development in financial supervisory authorities, including artificial intelligence and data capabilities. Based on a survey of nine authorities, it emphasises aligning learning strategies with institutional mandates, using structured competency frameworks, combining in-house and external training with tools such as secondments and sandboxes, and assessing effectiveness through feedback and performance measures.
The New Zealand Financial Markets Authority announced that former financial adviser David McEwen pleaded guilty to charges of breaching an FMA stop order, with sentencing set for 14 January. The stop order was issued due to misleading communications about financial products, and McEwen continued to make offers and accept contributions despite the order.
The South Korea Financial Supervisory Service reported a KRW4.8 trillion increase in household loans across all financial sectors in October 2025, up from September's KRW1.1 trillion rise. The acceleration was driven by stronger nonbank lending and a temporary rise in group mortgage lending for new apartment subscriptions. Despite this, the impact on the housing market is expected to be limited, though higher housing transactions could increase loan growth, necessitating close monitoring.
The Italian Institute for Insurance Supervision (IVASS) reported a 13.6% decrease in insurance complaints in Italy for the first half of 2025, totaling 53,862 complaints. Motor third-party liability accounted for 47% of complaints, with other non-life lines at 40% and life business at 13%. Of actionable complaints, 88.5% were handled within an average of 20 days, below the 45-day limit set by Regulation No. 24/2008.
The Bank of England, the Monetary Authority of Singapore, and the Bank of Thailand are exploring synchronised settlement mechanisms for cross-border foreign exchange transactions. The initiative will test interoperability using simulated real-time gross settlement systems and Distributed Ledger Technology-based environments. It aims to assess the potential for atomic, real-time Payment versus Payment FX settlement across diverse jurisdictions and infrastructures.
The Monetary Authority of Singapore and the Singapore FinTech Association announced winners of the Global FinTech Hackcelerator and the Singapore FinTech Festival FinTech Excellence Awards, recognizing innovations in financial services. The Hackcelerator focused on AI solutions, awarding SGD 80,000 each to ActuaViz, Claimsio, and Oxford Risk. The Excellence Awards honored eight winners across six categories, with corporate winners receiving SGD 50,000 and individual mentors SGD 5,000.
The Monetary Authority of Singapore has issued a consultation paper on proposed Guidelines on Artificial Intelligence Risk Management for financial institutions. The guidelines outline supervisory expectations for AI governance, risk management systems, and controls, complementing existing FEAT principles and national AI initiatives.
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, initially focusing on Singapore-Germany transactions. The cooperation aims to develop settlement solutions to reduce costs and processing times, and promote common standards for cross-border payments involving tokenised assets. This initiative builds on MAS’ Project Guardian, with the Bundesbank joining the Guardian Policymaker Group in November 2024.
The Monetary Authority of Singapore has released a consultation paper on proposed Guidelines on AI Risk Management for financial institutions. The Guidelines aim to ensure responsible AI use, covering applications like generative AI and AI agents, with expectations on oversight, risk assessments, and AI life cycle controls. They emphasize proportional implementation based on firms' size, activities, and risk profiles.
The Monetary Authority of Singapore completed a live trial settling interbank overnight lending transactions using wholesale central bank digital currency (CBDC) on the Singapore Dollar Test Network. The trial, involving DBS, OCBC, and UOB, marked the first live issuance of SGD wholesale CBDC. MAS plans a future trial to issue tokenised MAS Bills to Primary Dealers using CBDC, with details expected in 2026.
The European Central Bank's Occasional Paper, prepared within the European System of Central Banks’ EU-UK Network, examines Brexit's impact on EU-UK trade and foreign direct investment (FDI). It finds that non-tariff barriers significantly reduced UK goods exports to the EU, while bilateral FDI links weakened modestly, influenced by relocation-related flows. The paper highlights a nearly 40% contraction in UK exports to the EU post-transition, with services trade growing faster with non-EU partners and a 4% decline in bilateral FDI flows due to Brexit.
The European Central Bank released Working Paper No. 3152, introducing a methodology to enhance the granularity of Inter-Country Input-Output tables for analyzing trade shocks in specific green-transition products. The paper simulates an East-West supply chain decoupling scenario, revealing potential welfare losses of up to 3% and a 20% contraction in trade between blocs, alongside increased global prices and emissions for green products.
The European Central Bank's research in the ECB Economic Bulletin estimates job-to-job transition rates for Germany, Spain, and France, with a proxy for the euro area. The analysis suggests these transitions complement standard labour market indicators for assessing market tightness and inflation dynamics. Findings indicate higher mobility among lower-skilled and younger workers, with demographic ageing expected to reduce transition rates over time.
The Central Bank of Estonia released its monthly flash estimate of the balance of payments, highlighting that the third quarter figures will be published on 10 December 2025. The monthly estimate is based on limited data and is subject to adjustment upon the quarterly release, which uses comprehensive primary data sources. Statistical releases are distinct from economic policy publications.
The Philippines Insurance Commission issued a circular mandating insurance entities to expedite claims processing for policyholders in disaster-stricken areas following a state of calamity declaration. Measures include relaxing procedures, extending deadlines, and ensuring proper damage assessments. The Commission will oversee compliance and address any complaints or issues.
The Monetary Authority of Singapore and Deutsche Bundesbank signed a memorandum to collaborate on cross-border digital asset settlement, enhancing financial transactions between Singapore and Germany. The partnership aims to develop settlement solutions to reduce costs and processing times, and promote shared standards for cross-border payments and tokenised asset transactions. This initiative builds on MAS’s Project Guardian, with Deutsche Bundesbank joining the Guardian Policymaker Group in November 2024.
Poland's Ministry of Finance announced the Sejm's adoption of a law aligning domestic crypto-asset regulations with the EU MiCA, enhancing oversight on issuance, trading, and related services. The law empowers the Polish Financial Supervision Authority with supervisory tools, mandates client protections, and introduces criminal liability for severe violations. It also requires crypto-asset service providers to comply with anti-money laundering and counter-terrorist financing rules.
The German Bundesbank's National Cash Forum announced new stickers for retailers to enhance cash acceptance visibility and outlined measures to bolster cash cycle resilience. Stickers, available through the German Retail Federation and online, feature messages like “Klar, auch bar!” and “Einfach. Bargeld.” The forum also plans to improve crisis communication and conduct regular crisis exercises, with the first simulating various emergency scenarios.
The Brazil Securities Commission (CVM) has ordered the immediate suspension of securities intermediation services by 24 online platforms, citing unauthorized operations. CVM's Superintendence of Market and Intermediaries Relations identified these platforms as soliciting Brazilian clients for securities transactions without proper authorization. The suspension was formalized through Declaratory Act CVM 24,167.
The Central Bank of the Republic of Azerbaijan will host a high-level COP30 event with COP Sustainable Business and the International Development Finance Club to present a Roadmap for enhancing sustainable finance taxonomies. The initiative aims to improve transparency and comparability in climate financing, featuring outputs like a global digital mapping system and interoperability principles. This voluntary platform, established at COP29, includes partners such as the International Finance Corporation and Brazil’s Ministry of Finance.
The Ontario Securities Commission announced that Sergiy Kaspirovych pleaded guilty to providing false information during an investigation, violating section 122(1)(a) of the Securities Act. He was sentenced to 18 months’ probation and 150 hours of community service. Kaspirovych submitted forged documents, including falsified criminal record checks, to support his registration as a scholarship plan dealing representative.
The Network for Greening the Financial System (NGFS) has updated its Guide on Climate Scenario Analysis to incorporate advances in scenario design, data, and modelling, emphasizing short-term scenarios for assessing near-term financial risks related to climate change. The Guide aims to serve as a practical reference for supervisory exercises and firms' risk management, reflecting methodological progress and emerging best practices.
The Sustainable Banking and Finance Network announced that the Taxonomy Roadmap Initiative, in collaboration with the Sustainable Business COP and the International Development Finance Club, will host a high-level event at COP30 in Belém to enhance interoperability and comparability of sustainable finance taxonomies. The event will present a progress report on global taxonomy trends, high-level principles for interoperability, a digital tool for comparing taxonomies, and a dedicated website for resource sharing, building on COP29's goal to mobilize USD 1.3 trillion annually by 2035.
The Labuan Financial Services Authority announced the appointment of Datuk Ahmad Hizzad bin Baharuddin as Chairman for a two-year term starting 15 November 2025. Datuk Hizzad, with extensive experience at Bank Negara Malaysia and previous roles at Labuan FSA, succeeds Dato’ Wan Mohd Fadzmi Bin Che Wan Othman Fadzilah, who retired in 2024.
The Central Bank of Russia's Board of Directors has extended Tatyana Savitskaya's term as Financial Consumer Ombudsman for credit cooperation, insurance, and other financial operations, effective 1 January 2026. Her role, initially appointed on 1 January 2021, is governed by Federal Law No. 123-FZ and involves a five-year term.
The Central Bank of Russia's review for July–September 2025 highlights that banks thwarted 28.5 million fraudulent transactions, preventing the theft of ₽3.5 trillion, while 460,100 fraudulent transactions resulted in ₽8.2 billion stolen. Successful fraud incidents rose by 51% compared to the previous four quarters, attributed to enhanced reporting capabilities in mobile apps. From October 2025, all large banks must offer in-app fraud reporting.
The Sustainable Banking and Finance Network plans a COP30 event in Belém to align sustainable finance taxonomies, enhancing cross-border comparability and private capital mobilisation for climate goals. Deliverables include a progress report, interoperability principles, a taxonomy mapping tool, and a dedicated website. The initiative builds on COP29 outcomes, aiming to mobilize at least USD 1.3 trillion annually by 2035, focusing on emerging markets and developing economies.
The Central Bank of Poland reported a current account deficit of PLN 3.1bn for September 2025, down from PLN 3.5bn in September 2024, with surpluses in services and secondary income offset by deficits in primary income and trade in goods. Goods exports increased by 5.3% to PLN 128.1bn, while imports rose 6.8% to PLN 132.4bn, driven by agricultural products, consumer goods, and passenger cars. The primary income deficit widened due to increased foreign direct investment income.
The National Bank of the Kyrgyz Republic has amended regulations to refine banks' credit policies and establish a framework for services related to the initial placement of virtual assets under the Law on Virtual Assets. The changes enhance collateral monitoring and aim to improve banks' interactions with state authorities.
The National Bank of the Kyrgyz Republic's Jalal-Abad regional office conducted a financial literacy lecture for government employees in Tash-Kumyr. Topics included money management, financial risk protection, QR code development and standards, digital financial services, and the Tündük platform's credit transaction self-ban process following recent legislative amendments.
The National Bank of the Kyrgyz Republic has enforced measures against currency exchange bureaus, fining one bureau KGS 55,000 and suspending the licence of LLC Magnit X for regulatory breaches. Magnit X's licence is suspended from 13 to 19 November 2025.
The International Monetary Fund released a Fintech Note offering a framework to assess financial stability implications of retail central bank digital currency (CBDC) adoption. It identifies six transmission channels affecting stability, including banks' funding structures and payment-system competition, suggesting mild CBDC adoption generally has limited impact on bank profitability. The note recommends data-driven diagnostics and outlines design and policy options to mitigate risks.
The International Monetary Fund's IMF Fintech Note outlines strategies to enhance payment ecosystem resilience in Fragile and Conflict-Affected States, impacting central bank digital currency (CBDC) design. It presents a framework for assessing vulnerabilities across five ecosystem layers and explores digital innovations like offline functionality and interoperability. Case studies highlight measures such as multisite architectures and satellite connectivity, with CBDC considerations including offline solutions and crisis disbursement programmability.
The International Monetary Fund published a Fintech Note on retail central bank digital currency (CBDC) impact on domestic retail payment competition, offering guidance for policymakers. It outlines four channels through which CBDC could influence competition, with significant effects in concentrated, lightly regulated markets. Key design considerations include intermediary participation, interoperability standards, fee structures, and the risk of crowding out private alternatives.
The Middle East and North Africa Financial Action Task Force concluded its 41st Plenary Meeting in Manama, Bahrain, approving Bahrain as vice-president for 2026 and endorsing UAE-Bahrain joint presidency priorities for 2026-2027. The meeting also addressed governance enhancements, challenges in implementing financial sanctions, and trends in money laundering and terrorist financing.
The Chancellor of the Exchequer, Rachel Reeves, has reappointed Megan Greene for a second term as an external member of the Bank of England’s Monetary Policy Committee (MPC), extending her tenure until 4 July 2029. External MPC members are appointed by the Chancellor and may serve up to two three-year terms, with reappointments considered on their merits.
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) has issued guidance for banks and financial firms to ensure critical financial services during crises and war. It emphasizes continuity in electronic and cash payments, salary payments, and access to savings, credit, and insurance, aligning with Sweden’s civil defence objectives. FI aims to enhance cooperation with firms to address development needs relevant to Sweden’s total defence.
The New Brunswick Financial and Consumer Services Commission issued a consumer alert urging residents to verify the licensing of door-to-door sellers, following reports of unlicensed operations. The Commission emphasized that direct sellers must be licensed and carry their licence during business activities. Warning signs include cash-only payments, upfront fee demands, removable car signage, evasiveness, and high-pressure sales tactics.
HM Treasury has reappointed Megan Greene as an external member of the Bank of England’s Monetary Policy Committee for a second three-year term, extending her tenure until 4 July 2029. The reappointment follows the Governance Code for Public Appointments, with Greene confirming no political activity in the past five years.
The Canadian Securities Administrators issued a Notice and Request for Comment on proposed amendments to National Instrument 52-112, aiming to align with IFRS 18 and reduce duplicative disclosures. Key changes include redefining "non-GAAP financial measure" to encompass management-defined performance measures, allowing certain disclosures by reference, and introducing a prominence rule for additional subtotals. The amendments consolidate existing exemptions and integrate NI 52-112 into the Multilateral Instrument 11-102 Passport System.
The Federal Reserve Board issued a consent prohibition order against Nicholas Sheeley, a former Commerce Bank employee, for misappropriating customer funds. It also terminated cease and desist orders against Société Générale S.A. and Industrial and Commercial Bank of China Ltd., originally issued in 2018.
Egypt's Financial Regulatory Authority (FRA) has authorized Azimut Investments – Egypt to establish the first digital platform for investing in real estate investment fund units. The FRA is reviewing the prospectus for the "Halan – Azimut" real estate fund, which will be offered digitally. This follows FRA Board Decision No. 125 of 2025, setting rules for digital platforms in real estate investment, with existing models required to comply.
The Hellenic Capital Market Commission approved EURONEXT N.V.'s suitability for acquiring control-related holdings in the Hellenic Exchanges group and related entities, including indirect acquisitions in Athens Exchange Clearing House S.A., Hellenic Central Securities Depository S.A., and Hellenic Energy Exchange S.A. The Commission also approved certain EURONEXT N.V. shareholders' suitability for indirect participation in this acquisition.
The Bank of Thailand released the IMF staff's concluding statement from the 2025 Article IV Consultation, highlighting a weaker growth outlook and subdued inflation. The IMF projects growth to slow to 2.1% in 2025 and 1.6% in 2026, with inflation remaining low and returning to the 1–3% target range by 2027. The statement emphasizes the need for targeted fiscal support, further monetary easing, and structural reforms to enhance productivity and competitiveness.
The Bank of Thailand, Bank of England, and Monetary Authority of Singapore are collaborating to explore synchronised settlement mechanisms for foreign exchange transactions. The initiative will assess the feasibility of atomic, real-time FX transactions and Payment versus Payment settlement across jurisdictions. Experiments will use simulated Real Time Gross Settlement systems and Distributed Ledger Technology to test interoperability and multilateral use cases.
The Australian Prudential Regulation Authority released notes from Chair John Lonsdale's remarks at the Insurance Council of Australia CEO roundtable, emphasizing regulatory balance and inviting input from general insurance industry executives.
The Office of the Comptroller of the Currency, in collaboration with the Federal Deposit Insurance Corporation and the Federal Reserve Board through the Federal Financial Institutions Examination Council, released 2024 data on small business, small farm, and community development lending under the Community Reinvestment Act. The FFIEC also provided aggregate reports for each metropolitan statistical area and county in the U.S. and its territories, along with supporting data tables.
The National Bank of Romania reported a widening current account deficit to EUR 22,275 million for January–September 2025, up from EUR 20,515 million in 2024, driven by a larger goods and primary income deficit. Total external debt increased by EUR 17,773 million to EUR 221,283 million as of 30 September 2025, with long-term debt rising 11.3% to EUR 174,027 million. Non-resident direct investment reached EUR 5,647 million, with net equity participation at EUR 4,972 million and net intra-group loans at EUR 675 million.
The China Securities Regulatory Commission's Chair, Wu Qing, visited Paris and Rio de Janeiro to meet with the French Financial Markets Authority and Brazil’s Securities and Exchange Commission, discussing securities market regulation and bilateral cooperation. Wu also engaged with international institutional investors and Chinese corporates to communicate policy messages and explore investment opportunities in China's capital markets.
The Financial Stability Board's Regional Consultative Group for the Middle East and North Africa convened in Istanbul to address regional and global financial stability issues. Discussions included financial vulnerabilities, debt sustainability, nonbank financial intermediation, and the use of artificial intelligence in finance. The group also reviewed the FSB's 2025 activities and set priorities for 2026.
Argentina Securities Commission (CNV) president Roberto E. Silva discussed the 2025 regulatory framework's impact on capital markets at an IDEA event, emphasizing digitalisation, tokenisation, and simplification. Key measures include a tokenisation regime, streamlined capital markets regulation, and a framework for Virtual Asset Service Providers. Silva noted the CNV board's approval of over 100 regulations, aiming to simplify rules and balance investor protection with innovation.
Argentina Securities Commission (CNV) President Roberto E. Silva highlighted over 100 regulations to enhance private-sector financing and modernize Argentina's capital markets at Marval Legal Forecast 2026. Key measures include the Tokenisation Regime, the regulatory framework for Virtual Asset Service Providers, and the Automatic Public Offering regime. Silva noted many improvements promised at the previous year's event have been implemented.
Luxembourg’s Ministry of Finance reported Finance Minister Gilles Roth’s participation in Eurogroup and ECOFIN meetings in Brussels, where finance ministers approved amendments to national recovery and resilience plans, including Luxembourg’s. Discussions covered euro area competitiveness, innovation, Banking Union developments, digital finance, and international issues related to Ukraine and Pillar 2. Roth also met with European Commissioner for Financial Services Maria Luís Albuquerque to discuss Europe's supervision architecture.
The Eurasian Group said the 41st MENAFATF plenary approved member progress reports and discussed targeted financial sanctions, cybercrime and AML/CFT trends. It also noted that the United Arab Emirates will take over MENAFATF chairmanship in 2026, with Bahrain as vice president, and used the meeting to preview side events for the 43rd Eurasian Group plenary.
The State Bank of Vietnam announced the National Assembly's resolution on the 2026 socio-economic development plan, targeting GDP growth of 10% or higher with macroeconomic stability and inflation control. The plan emphasizes restructuring credit institutions, stabilizing interest and exchange rates, and supporting production funding. Key targets include GDP per capita of USD 5,400–5,500, 8.5% labour productivity growth, and a digital economy share of 14% of GDP.
The Bangladesh Securities and Exchange Commission requires stock brokers, dealers, and merchant bankers to disclose negative equity and unrealized losses per International Financial Reporting Standards. Firms must submit quarterly updates and face restrictions on negative equity accounts, including bans on new securities purchases and margin loan interest charges. Temporary net-worth compliance relaxation applies only to deficits from provisioning and adjustment, with the Commission retaining the right to amend or withdraw the order.
The Bank of Korea published "Financial Market Trends in October 2025," providing detailed data in attached files.
FinCEN proposes a rule to designate transactions involving ten Mexico-based gambling establishments linked to the Cartel de Sinaloa as primary money laundering concerns, aiming to sever their US financial system access. The action is coordinated with the Mexican government and the Treasury’s Office of Foreign Assets Control. FinCEN requests Suspicious Activity Reports include specific identifiers and highlights its whistleblower program for enforcement actions.
The Royal Monetary Authority of Bhutan announced a "New Generation" series of Ngultrum banknotes to commemorate the 70th birth anniversary of the Fourth Druk Gyalpo, Jigme Singye Wangchuck. The polymer notes, featuring updated security elements and national motifs, will be more durable and recyclable than paper notes, with previous banknotes remaining legal tender. The new BTN 1,000, BTN 500, and BTN 100 notes are expected to circulate from January 2026.
The U.S. Treasury's OFAC and FinCEN targeted the Hysa Organized Crime Group and Mexico-based gambling establishments linked to cartel money laundering. OFAC designated 27 individuals and entities, while FinCEN proposed cutting off 10 gambling establishments from the U.S. financial system, prohibiting transactions and requiring special due diligence on correspondent accounts.
The Central Bank of Trinidad and Tobago discussed fintech innovation and secure payment systems with stakeholders. Key topics included the proposed Payment Systems and Services Bill for modernizing payment regulation, modular licensing for Payment Service Providers, and improved dispute resolution. Updates were given on supervisory approaches, the Regulatory Innovation Hub, and the Regulatory Sandbox for fintech collaboration and testing.
The Palestine Monetary Authority released its October 2025 PMA Business Cycle Index, showing a slight improvement, and the Residential Property Price Index for Q3 2025, indicating market stability. Additionally, the PMA Governor participated in the AAOIFI–Islamic Development Bank conference on Islamic finance and AI, and a Wilton Park meeting on private sector investment for Gaza's reconstruction.
The Palestine Monetary Authority released the Residential Property Price Index for Q3 2025, showing stable residential prices with a 0.71% quarterly increase to 107.5 points, but a 0.5% decline year-on-year. Sub-indices aligned with the overall trend, with house prices up 0.82% and apartment prices at 107.4 points. The index excludes the Gaza Strip due to ongoing conflict.
The National Bank of Moldova released an annex detailing its 2026 publication calendar, with scheduled release dates on 13 February, 14 May, 13 August, and 12 November. The annex also includes historical publication dates from 2016 to 2025.
The National Bank of Moldova Executive Committee adopted Decision No. 255, amending various foreign exchange-related normative acts. These amendments will take effect on 1 January 2026.
The National Bank of Moldova's Executive Committee approved an instruction mandating foreign exchange bureaus and hotels to report to the central bank.
The National Bank of Moldova has amended its normative acts concerning leverage ratio reporting, effective 1 January 2026.
De Nederlandsche Bank's survey of over 2,400 Dutch households shows overall trust in the financial sector remains stable, despite declining confidence in banks, insurers, and pension funds. Trust in financial institutions is split, with 52% expressing fairly high or very high trust, while 48% report little or no trust. These shifts in confidence occur despite stable financial positions, driven by personal experiences, sector supervision, and general sentiment.
The Financial Services Regulatory Authority of Abu Dhabi Global Market hosted the IOSCO Africa and Middle East Regional Committee Plenary Meeting and Public Conference on regional securities regulation. The plenary involved 29 IOSCO member regulators discussing capital markets integration, global regulatory alignment, and supervisory enhancements. The public conference addressed market innovation topics like tokenisation, distributed ledger technology, and private credit.