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2025-11-10•United Kingdom•Bank of England
The Bank of England issued a consultation paper on a regulatory regime for sterling-denominated systemic stablecoins, focusing on prudential and financial stability supervision. The regime targets stablecoins for retail payments and potential wholesale settlement, allowing systemic issuers to hold up to 60% in short-term UK government debt. Temporary holding limits are proposed to manage risks from rapid bank deposit outflows, with exemptions for large businesses and separate provisions for wholesale market transactions.
Policy & regulationRules & requirementsStablecoins
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2025-11-10•Malta•Central Bank of Malta
The Central Bank of Malta's annual financial stability seminar focused on the impact of rapid technological change, particularly AI, on financial stability risks. Governor Professor Edward Scicluna emphasized AI's opportunities and risks, highlighting the need for transparent communication and collective preparedness. The event featured a keynote by Paul Hiebert of the European Central Bank and discussions on AI's implications for financial stability.
ResearchArtificial intelligenceFinancial stability and systemic risk
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2025-11-10•Hungary•National Bank of Hungary
The National Bank of Hungary's Commercial Real Estate Market Report indicates improved sentiment and increased investment in 2025 H1, but warns of rising vacancy rates in Budapest's office and industrial-logistics sectors due to oversupply risks. A sectoral systemic risk buffer requirement will be introduced for credit institutions from 1 January 2026. The report notes a 67% year-on-year increase in investment volume to EUR 300 million and a 19% rise in CRE-backed project loans, with moderate overall exposure.
Policy & regulationRules & requirementsCredit riskMarket risk and volatility
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2025-11-10•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary stressed price and financial stability's importance at a Bank for International Settlements meeting, highlighting international cooperation's role in addressing challenges. He signed a partnership with the Bank of Korea for knowledge-sharing and joint research in digital financial innovation. Varga identified inflation as a key obstacle to sustainable growth, noting trade tensions and geopolitical developments as factors influencing the global economic outlook.
Policy & regulationCooperationMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-11-10•Pakistan•State Bank of Pakistan
State Bank of Pakistan Governor Jameel Ahmad, at CFA Society Pakistan’s Annual Excellence Awards, highlighted macroeconomic stabilization from prudent policies, noting reduced inflation and stronger fiscal buffers. He stressed the need for capital market development to meet private sector credit and investment demands, suggesting infrastructure improvements, alternative products, digital access, and transparency. Ahmad praised CFA Society Pakistan for promoting ethical investment practices.
Monetary policyMonetary policy assessments & outlooksCorporate governanceESG
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2025-11-10•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority now requires Egyptian insurers to engage only with reinsurers registered by the Authority. The framework mandates tighter registration criteria, including oversight by a comparable foreign regulator, a minimum international credit rating, and specific financial conditions for commercial and takaful reinsurers. Insurers must comply within a year, with non-compliant reinsurers facing delisting. The Authority will publish a list of compliant entities.
Policy & regulationRules & requirementsLicensing framework and process
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2025-11-10•Egypt•Egypt Financial Regulatory Authority
At the Annual Insurance and Reinsurance Forum, Egypt Financial Regulatory Authority chair Mohamed Farid outlined the insurance-sector reform agenda, emphasizing 47 regulatory decisions since the Unified Insurance Law. Key developments include a title deed insurance policy, changes to investment rules, and digital transformation. Measures involve capital requirements, solvency standards, and a customer complaints framework, with further steps including investment decisions and leadership training programs.
Policy & regulationReform agendas & priorities
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2025-11-10•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved Euronext N.V.'s revised optional public offer to shareholders of Hellenic Exchanges – Athens Stock Exchange S.A. The revision reduces the minimum share requirement for offer validity from 38,759,500 to 28,925,001 shares, aligning with Article 21 of Law 3461/2006.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-11-10•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) will host a digital seminar for reporting leads, board members, and audit committee members of listed companies, focusing on supervisory follow-up of issuer reporting and evolving requirements. The agenda includes IFRS, sustainability reporting, disclosure obligations, priorities for 2025, Finanstilsynet's role in takeover bids, and rules on inside information. The seminar will also mark 20 years of financial reporting enforcement.
SupervisionSupervision approach, priorities & toolkitAccounting and financial reporting
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2025-11-10•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision imposed periodic penalty payments of EUR 187,650 on ABANCA Corporación Bancaria, S.A. for failing to assess its climate-related and environmental risks. The penalties were based on the infringement's materiality, breach duration, and the bank's daily turnover. ABANCA can challenge the decision before the Court of Justice of the European Union.
EnforcementInvestigations & enforcement actionsClimate risk and sustainable finance
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2025-11-10•Qatar•Qatar Financial Centre
The Qatar Financial Centre introduced the Platinum Onboarding Service, a fast-track incorporation option under its Elite Services framework, enabling businesses to establish in the QFC within one hour post-application submission. This highest-tier service offers tailored onboarding support, including issuance of computer and tax cards for Qatar residents, alongside concierge services like airport meet-and-greet and relocation assistance.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-11-10•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) outlined its regulatory modernisation agenda at a Moody’s Local roundtable, highlighting the approval of the country's first closed-end investment fund for mortgage loans. CNV President Roberto E. Silva noted the issuance of 100 regulations to enhance regulatory functions and market transparency. The event also discussed the Mortgage Financial Trusts Regime and market conditions for mortgage-backed securitisation.
Policy & regulationImplementation, projects & pilotsSecuritization
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2025-11-10•India•Securities & Exchange Board of India
The Securities and Exchange Board of India's High Level Committee has submitted its report on conflict of interest provisions and disclosure requirements for SEBI members and officials. The report, chaired by former Chief Vigilance Commissioner Pratyush Sinha, recommends a strengthened framework including a recusal policy, public disclosure requirements, and mechanisms for public complaints.
Policy & regulationReform agendas & prioritiesOther
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2025-11-10•Argentina•Central Bank of Argentina
The Central Bank of Argentina will host its inaugural "Supervision Days" on 13–14 November 2025 in Buenos Aires, focusing on financial supervision in a transforming financial system. The event will feature discussions on SUPTECH, digital fraud, Open Finance, and new regulatory requirements for the fintech sector, with participation from domestic and international experts. Presentations and videos will be available on the central bank's website post-event.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologiesRegtech and suptech
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2025-11-10•Bhutan•Royal Monetary Authority of Bhutan
The Royal Monetary Authority of Bhutan has issued a warning about OTP scams, particularly prevalent during holidays, involving impersonation of officials to extract sensitive information. Scammers use platforms like WhatsApp and social media to promote fake lotteries and investments. The public is advised not to share OTPs or personal banking details and to verify any suspicious communications directly with banks or relevant agencies.
SupervisionAlertsFraud and scams
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2025-11-10•Europe•Single Resolution Board
The Single Resolution Board (SRB) released its dashboard on the minimum requirement for own funds and eligible liabilities (MREL) for the first half of 2025, indicating banks are largely meeting targets. The average final MREL target for resolution entities was 27.9% of total risk exposure amount, with a minimal aggregate shortfall of EUR 0.3bn. Entities required to comply with final MREL targets from January 2024 are meeting requirements, with shortfalls linked to banks in transitional periods.
Data & statisticsRegulatory reporting
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2025-11-10•Moldova•National Bank of Moldova
The National Bank of Moldova, with World Bank assistance, is finalizing Moldova’s National Financial Inclusion Strategy 2030 and its implementation plan. The strategy aims to enhance access to and quality of financial services for individuals and micro, small, and medium-sized enterprises. Development is supported by the M-GROW trust fund and involves a working group formed under a memorandum with multiple national entities.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-11-10•Barbados•Central Bank of Barbados
The Central Bank of Barbados reported a shift from cash and cheques to electronic payments, highlighted by the rise in its Digital Payments Index (DPI) from -0.86 in 2013 to +1.03 in 2024. The Bank introduced BiMPay, a 24/7 instant payment system set to launch in March 2026, aiming to enhance payment accessibility and security. Key adoption priorities include trust, cybersecurity, and merchant acceptance, supported by the Central Bank of Barbados Act and the National Payment System Act 2021.
Policy & regulationImplementation, projects & pilots
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2025-11-10•Denmark•Danish Finanstilsynet
Danish Finanstilsynet reviewed 2024 principal adverse impact statements from 15 financial firms, finding satisfactory disclosures but lacking concrete, measurable measures and accessibility on websites. The review highlighted clearer descriptions for climate impacts than social indicators and urged firms to specify measurable targets for each PAI indicator. Persistent data challenges were noted, and firms are expected to act on recommendations before the next cycle.
SupervisionReviews, inspections & stress testsDisclosures
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2025-11-10•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority reported that 2024 loss levels for mortgage-secured exposures were below limits, allowing credit institutions to apply lower Capital Requirements Regulation risk weights in Denmark, Greenland, and the Faroe Islands. Up to 55% of a residential property's value can be risk-weighted at 20%, and up to 55% of a commercial property's value at 60%, provided market conditions are met. Institutions must individually assess the prudence of using these lower risk weights.
Policy & regulationImplementation, projects & pilotsCredit risk
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2025-11-09•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority chaired the eleventh meeting of the Ministerial Committee of GCC capital market regulators, focusing on regional supervisory and market-development coordination. Discussions included strengthening securities control, enhancing electronic knowledge linkage, and updates on the Inter-Registration Regulation and GCC financial market developments. The Saudi Capital Market Authority presented on the MALAM programme and the Gulf Smart Investor Award.
Policy & regulationCooperationDomestic cooperation
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2025-11-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
BIM Capital has fulfilled the commencement-of-business requirements to conduct arranging activities under its securities business license, as announced by the Saudi Arabia Capital Market Authority. The license was granted by a CMA resolution dated 30 December 2024.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority fined Mohammed Hasan AlNaqool Sons Co. SAR 20,000 for not disclosing financing from its chairman to the CMA and the public. The financing, totaling SAR 27,182,075, exceeded 1% of the company's total revenues as per its 2020 financial statements, violating paragraph (11) of Article (62) of the Rules on the Offer of Securities and Continuing Obligations.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-11-09•China•Central Bank of the Republic of China
The People's Bank of China and Swiss authorities held the third China–Switzerland ministerial financial meeting in Bern, discussing economic and financial outlooks, global governance, and bilateral cooperation. Key topics included financial market connectivity, digital innovation, and sustainable finance, with a memorandum signed on financial intelligence exchange to combat money laundering and terrorist financing. Both sides committed to pragmatic follow-up on cooperation in priority areas.
Policy & regulationCooperationCross-border cooperationAML and CFT
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2025-11-09•Qatar•Qatar Central Bank
Qatar Central Bank has introduced a podcast page on its website utilizing artificial intelligence to convert extensive policies and guidelines into interactive audio content, enhancing engagement and accessibility in alignment with the Third Financial Sector Strategy and Qatar National Vision 2030.
Financial literacy & educationArtificial intelligence
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2025-11-09•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic hosted a roundtable on cybersecurity challenges, emphasizing public awareness in handling personal information and online activity. Experts highlighted AI-related risks like identity impersonation and data theft, stressing the need to embed cybersecurity across government and society. Sector-specific challenges include high interconnectivity and rapid cyberattacks, with mitigating factors like significant investment and collaboration with regulators.
Financial literacy & educationCyber resilience
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2025-11-09•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore, with the Global Finance & Technology Network and Constellar, announced the Singapore FinTech Festival 2025 programme, focusing on AI, tokenisation, and quantum technologies. The event will feature over 800 speakers and 500 exhibitors, addressing themes like responsible AI, tokenisation, and financial inclusion. New initiatives include a Next Gen Leaders Programme and the SME Sustainability Barometer 2025 report.
Policy & regulationImplementation, projects & pilotsFintech and insurtechArtificial intelligenceTokenization
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2025-11-09•Oman•Oman Financial Services Authority
The Oman Financial Services Authority has suspended the Saud Al Zadjali Law Firm from practicing for one year due to violations of the Capital Market Law and the Commercial Companies Law. The firm failed to obtain necessary approvals and did not meet regulatory requirements. The suspension is effective from 4 November 2025.
EnforcementSanctions & designationsCorporate governance
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2025-11-09•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority joined a tree-planting initiative at the Sharm El Sheikh Insurance and Reinsurance Forum to offset carbon emissions from guest travel. This aligns with FRA's broader emissions reduction efforts, including launching Egypt and Africa's first voluntary carbon market. The forum, themed “Insurance in Light of Global Changes,” addresses emerging risks and the insurance sector's response to climate, geopolitical, and economic challenges.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-11-09•Egypt•Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority Chair Mohamed Farid proposed "smart regulation" to foster innovation in non-banking financial markets, emphasizing supervision for confidence-building. A temporary "Startup License" was introduced for sectors like mortgage and consumer finance, allowing model testing without full licensing. Legislative developments are underway to support new tools, including real estate crowdfunding and company valuation tools.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-11-08•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) began building its North Sumatra Provincial Office in Medan to boost regional regulatory functions, following its expanded mandate under Law No. 4 of 2023. The office, OJK's seventh regional facility, will feature sustainability and efficiency, including a "green building" concept. As of September 2025, North Sumatra's financial system includes 107 banking entities, 196 non-bank financial entities, and 96 capital market entities, with banking credit of IDR 312 trillion and a 13.6% year-on-year growth.
Institutional developmentOtherMandate change
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2025-11-08•Georgia•National Bank of Georgia
The National Bank of Georgia celebrated Bankers’ Professional Day, marking the 30th anniversary of the Georgian Lari and honoring long-serving employees. Governor Natia Turnava emphasized the banking sector's role in economic resilience and highlighted the bank's commitment to monetary policy, price stabilization, and financial innovation. The event also featured the inaugural Tbilisi Finance Summit, attracting over 1,000 delegates from more than 50 countries.
Other
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2025-11-08•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland’s Center for Inflation Research reported a decrease in US business leaders' inflation expectations, with anticipated Consumer Price Index (CPI) inflation at 3.5% for the next 12 months, down from 3.9% in the previous quarter. The Survey of Firms’ Inflation Expectations (SoFIE) gathers data from a broad panel of manufacturing and services firms to monitor inflation expectations influencing pricing decisions.
Data & statisticsEconomic data and developments
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2025-11-08•Vietnam•State Bank of Vietnam
The State Bank of Vietnam Governor outlined strategies for late 2025 and early 2026, emphasizing macroeconomic stability, inflation control, and GDP growth above 8%. The approach includes proactive monetary policy, flexible exchange and interest rates, and stable gold and foreign-exchange markets. Credit will focus on production, business, and priority areas, while lending to risk-prone sectors like real estate will be tightly controlled.
Monetary policyMonetary policy framework & strategyEconomic data and developments
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2025-11-08•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) cautioned against investing in "Digital Gold/E-Gold" on digital platforms, as they lack SEBI's regulatory oversight and securities-market protections. SEBI advised investing through SEBI-regulated products like exchange-traded commodity derivative contracts, Gold Exchange Traded Funds (ETFs), and Electronic Gold Receipts (EGRs). Digital gold products are not classified as securities or regulated commodity derivatives, posing potential counterparty and operational risks.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-11-08•Moldova•National Bank of Moldova
The National Bank of Moldova released a podcast transcript with Governor Anca Dragu and financial education expert Galina Cicanci, discussing saving habits, investment balance, and online fraud risks. Dragu emphasized the importance of an emergency reserve and highlighted the liquidity of bank deposits. The podcast referenced a World Bank survey showing varied saving behaviors and noted household deposits grew by over 8% year on year, exceeding EUR 4bn.
Financial literacy & education
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2025-11-08•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank awarded National Bank of Dominica Ltd the 2025 Eastern Caribbean Currency Union Distinguished Bank of the Year title at the ECCU Bank of the Year Awards Ceremony. The bank also received accolades for Customer Service and Technological Innovation. The awards, launched in 2024, recognize banks for strategic initiatives and innovative practices, with seven commercial banks submitting 34 entries.
Other
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2025-11-07•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo launched the "Economy for All" campaign to enhance financial access for persons with disabilities, collaborating with the Kosovo Disability Forum and the Kosovo Banking Association. Supported by the European Fund for Southeast Europe, it aligns with the central bank's 2024–2028 strategic priorities on financial inclusion, consumer protection, and equal service access. Key measures include the Basic Services Account, a financial education platform with sign-language resources, and new regulations for non-discriminatory banking and insurance access.
Financial literacy & educationFinancial literacy and education
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2025-11-07•United Kingdom•Payment Systems Regulator
The UK Payments Vision Delivery Committee, comprising HM Treasury, the Bank of England, the Financial Conduct Authority, and the Payment Systems Regulator, has released a strategy for developing the next generation of the UK’s retail payments infrastructure. It focuses on innovation, competition, and security, with priorities like expanding payment choices, promoting inclusion, combating financial crime, and ensuring resilience. A Payments Forward Plan will detail future initiatives.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-11-07•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste reported the Petroleum Fund's investment position as of 30 September 2025, with total assets of USD 18.95 billion. The assets include USD 12.74 billion in global fixed income, USD 5.62 billion in global equities, and USD 589 million in private debt.
Data & statisticsOther
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2025-11-07•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste reported a capital movement of USD 1.34 million, with no transfer to the State Budget and a return of USD 207.04 million.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Pakistan•State Bank of Pakistan
The State Bank of Pakistan reported workers' remittances of USD 3.4 billion in October 2025, marking a 7.4% increase month on month and 11.9% year on year. Cumulative remittances for July to October of fiscal year 2026 reached USD 13.0 billion, up 9.3% from the previous year. October inflows were mainly from Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) reported financial sector stability after its October 2025 meeting, noting strengthened domestic market indicators and 7.70% year-on-year credit growth. Key actions included administrative fines, banking licence revocations, and enhanced due diligence for accounts linked to online gambling. Regulatory updates featured a pawnshop sector roadmap, new bank account management standards, and a consultative paper for the Indonesia Sustainable Finance Taxonomy.
Policy & regulationRules & requirementsFintech and insurtechFinancial stability and systemic risk
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2025-11-07•Italy•Bank of Italy
The Bank of Italy has initiated the data collection process for the 2026 contribution cycle to the Single Resolution Fund.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-11-07•Mexico•Central Bank of Mexico
The Central Bank of Mexico has launched a public consultation on proposed amendments to the Costo Anual Total (CAT) rules to enhance credit cost comparability and improve borrowing decisions. Key changes include updating CAT methodology for credit card advertising, revolving credit, and loans secured by liquid collateral, and incorporating debt-based crowdfunding institutions. The amendments also propose aligning commission calculations with registered data and standardizing CAT presentation in credit simulators and comparison tools.
Policy & regulationRules & requirementsDisclosures
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2025-11-07•Italy•Bank of Italy
The Bank of Italy released a research paper detailing a 2024 survey of Italian non-financial corporations on climate change risk management. Findings reveal significant gaps in emissions and physical risk management, transition planning, and governance, with climate risk practices varying by governance structure, sector, and region. The Bank plans to incorporate these insights into its In-house Credit Assessment System (ICAS).
ResearchClimate risk and sustainable finance
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2025-11-07•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported a record high of USD 49,516.3 million in international reserves as of 1 November 2025, a 6.4% increase in October. This rise was driven by significant inflows from international partners, surpassing net foreign exchange sales and foreign currency debt servicing. Reserves now cover 5.1 months of future imports.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka has issued new directions on liquidity risk management for finance companies under the Finance Business Act, outlining principles and minimum requirements for a comprehensive framework. The directions mandate an integrated approach to liquidity strategy, governance, and risk mitigation, with specific requirements for stress testing, reporting, and contingency planning. Compliance deadlines are set for 1 April 2026 for firms with assets of LKR 100 billion and above, and 1 April 2027 for smaller firms.
Policy & regulationRules & requirementsLiquidity risk
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2025-11-07•Botswana•Bank of Botswana
The Bank of Botswana's Financial Stability Council reported the financial system remains resilient but highlighted macro-financial risks like subdued growth and liquidity challenges. Key risks include high household credit concentration, rising debt-service-to-income ratios, and sovereign-sector pressures from weak diamond markets. Regulatory developments enhancing resilience include the Banking Act, 2023, and related amendments, alongside reforms in investment and payment services.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMacroprudential policy and tools
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2025-11-07•Kenya•Central Bank of Kenya
The Central Bank of Kenya's communique from the 16th Annual Board Retreat of the Joint Financial Sector Regulators Forum outlines supervisory priorities for technology-driven changes in Kenya’s financial sector. Priorities include assessing financial stability impacts of innovative products, mapping concentration risks from third-party technology providers, and developing strategies for emerging technologies like AI and Machine Learning. The Forum also aims to enhance AML/CFT/CPF supervisory capacity, strengthen consumer protection, and align crisis management frameworks with international standards.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-11-07•Mozambique•Ministry of Finance (Mozambique)
Mozambique's Ministry of Finance has presented a draft law to parliament to revise the insurance regime governed by Decree-Law No. 1/2010. The changes aim to update access, conduct, and financial guarantee requirements for insurers, and separate supervisory provisions from market entry rules. The ministry supports the reform with 2024 market data, highlighting an 11.5% production increase to MZN 24.16 billion and insurance penetration of 1.66%.
Policy & regulationRules & requirementsLicensing framework and process
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2025-11-07•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved amendments to regulations on share issuance and made decisions on sanctioned assets and securities registrations. Key actions included approving prospectus appendices for NovaPay Credit LLC bonds, denying FC Global Capital LLC a licence for capital market activities, and registering share issues for JSC ZNVCIF entities. Amendments to existing decisions and proposals for personal sanctions were also addressed.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-11-07•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL's 2024 report shows progress in anti-money laundering and counter-terrorist financing standards, but significant shortcomings remain in core effectiveness areas. The fifth evaluation round highlighted strong international cooperation and beneficial ownership transparency but noted weaknesses in money laundering prosecution and asset confiscation. The sixth evaluation round began in 2024, with Latvia's mutual evaluation adopted in June 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-11-07•China•Ministry of Finance (China)
The China Securities Regulatory Commission and the Ministry of Finance have issued the Measures for the Administration of the Securities Settlement Risk Fund, effective 8 December 2025.
Policy & regulationRules & requirementsMarket infrastructure
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2025-11-07•Lithuania•Ministry of Finance (Lithuania)
Lithuania's Finance Minister Kristupas Vaitiekunas met with European Commissioner Maria Luís Albuquerque to discuss the European Commission’s plans to deepen EU capital markets through the Savings and Investments Union. The initiative aims to enhance market transparency, improve business access to finance, and increase retail investment participation. The meeting also addressed strengthening EU sanctions against Russia and Belarus, focusing on energy and financial sectors.
Policy & regulationReform agendas & prioritiesGeopolitical riskMarket development
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2025-11-07•Lithuania•Ministry of Finance (Lithuania)
Lithuania's Finance Minister Kristupas Vaitiekunas stressed the need for private investment and capital market expansion to complement public funding for defence and competitiveness at the 11th International Conference on Financial Markets. He advocated for deeper EU Capital Markets Union integration and highlighted the Baltic Capital Markets Initiative as a regional model. Vaitiekunas also called for enhanced European Commission support through the Technical Support Instrument and endorsed the new Savings and Investments Union to boost investment, particularly for SMEs.
Policy & regulationReform agendas & prioritiesMarket development
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2025-11-07•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York's October 2025 Survey of Consumer Expectations shows a decline in short-term inflation expectations to 3.2%, while medium- and long-term expectations remain stable at 3.0%. Labor market expectations are mixed, with higher unemployment and weaker job-finding prospects, but a slight decrease in perceived job-loss risk. Credit availability perceptions improved, though optimism about household finances decreased.
Data & statisticsEconomic data and developments
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2025-11-07•China•Central Bank of the Republic of China
The Central Bank of the Republic of China released its China Inclusive Finance Indicator Analysis Report (2024–2025), highlighting improvements in inclusive finance coverage and quality, with enhanced support for rural revitalisation and small businesses. Key developments include expanded digital renminbi pilots, increased lending to technology-focused SMEs, and strengthened financial services for small enterprises. The report also notes stable issuance of rural revitalisation bonds and expanded inclusive insurance and agricultural risk protection.
ResearchFinancial inclusion
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2025-11-07•Europe•European Banking Authority
The European Banking Authority (EBA) has initiated data collection through national competent authorities to identify EU counterparties using ISDA SIMM models for initial margin, requiring EBA validation. Counterparties must seek authorisation from their competent authorities under EMIR, with non-compliance carrying legal consequences. The EBA aims to onboard these counterparties to its validation system by mid-2026, with validation applications expected in the latter half of 2026.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-11-07•Norway•Department of Finance (Norway)
Norway's Ministry of Finance proposes amendments to the Central Bank Act, allowing Norges Bank to extend credit to the state for up to 90 days under certain conditions. The amendments also address oversight arrangements, publication of dialogues and reports, and adjustments to eligibility rules for key positions. Additionally, Norges Bank would gain access to the National Population Register, subject to privacy and proportionality assessments.
Policy & regulationRules & requirementsLiquidity riskFinancial stability and systemic risk
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2025-11-07•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released findings from a review of contracts for difference (CFD) providers, highlighting inconsistent compliance with the Consumer Duty "price and value" outcome. The review identified shortcomings in fair value assessments and governance, with firms often failing to justify costs relative to benefits for retail clients. The FCA urged firms to address these gaps and will maintain supervisory oversight and direct engagement with selected firms.
SupervisionReviews, inspections & stress testsConsumer and investor protectionCorporate governance
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2025-11-07•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong and the Shenzhen Municipal Financial Regulatory Bureau signed a Memorandum of Understanding to enhance cooperation in gold-related activities and fintech. The MOU aims to build a regional gold ecosystem and support Hong Kong gold traders in collaborating with Shenzhen refining enterprises. Additionally, both parties plan to establish a global fintech centre and announce related policies soon.
Policy & regulationCooperationDomestic cooperation
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2025-11-07•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong recapped the Hong Kong FinTech Week x StartmeupHK Festival 2025, noting record attendance and key regulatory messages from the HKMA, SFC, and IA. The HKMA introduced its “Fintech 2030” framework, the SFC issued circulars to enhance virtual asset trading and plans to extend licensing to virtual asset advisory and management, and the IA announced initiatives like an Open API Framework and a Whitepaper on Federated Learning.
Policy & regulationGuidance & interpretationFintech and insurtechArtificial intelligenceBlockchain and distributed ledger technology
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2025-11-07•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond reported on a FedNow Explorer article detailing how banks are intensifying efforts to compete with nonbank providers due to increasing customer demand for instant payments. This competition is driven by the need for faster and always-available money transfer solutions.
OtherPayments and payment systems
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2025-11-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has initiated a public consultation on the Chinese-language draft amendments to the Securities and Futures (Financial Resources) Rules. This draft aligns with the English version previously consulted on, which included guidelines for the Internal Models Approach for market risk charges and model risk management principles.
Policy & regulationRules & requirementsRegulatory reporting
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2025-11-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced the conviction of finfluencer Mr. Chau Pak Yin by the Eastern Magistrates’ Court for providing paid investment advice without a licence via a Telegram chat group. Chau received a six-week custodial sentence and was ordered to pay investigation costs, marking the first custodial sentence for such conduct by the SFC under sections 114(1)(a) and 114(8) of the Securities and Futures Ordinance.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-11-07•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance detailed its tax reform bill, financing tools, energy developments, and macroeconomic metrics. Deputy Minister Nikos Papathanasis projected 2.2% growth for 2025 and 2.4% GDP increase for 2026, with major budget allocations for public investment and development programs. The update included SME support, housing measures, and upcoming steps like the sixth Recovery Fund disbursement and new EU Just Transition Mechanism investment plans.
Policy & regulationImplementation, projects & pilotsOther
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2025-11-07•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance proposed amendments to a tax reform bill, expanding eligibility for a 50% reduction in minimum net income assessments, extending the phased abolition of ENFIA, and broadening access to a EUR 130 monthly border-area allowance. The amendments target regions like Western Macedonia and border municipalities. Additionally, the minister presented dividend-tax figures to justify maintaining the 5% rate, highlighting increased declared income and tax revenue.
Policy & regulationRules & requirementsOther
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2025-11-07•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance introduced a tax reform bill to address demographic pressures and support middle-income households, costing EUR 1.76 billion in the first year. Key measures include reduced personal income tax rates, family incentives, and cuts to property and indirect taxes, like a 50% ENFIA reduction from 2026 and a 30% VAT cut for certain islands. Additional provisions offer tax exemptions for young individuals and new mothers, plus incentives for strategic business spending and electronic payments.
Policy & regulationRules & requirements
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2025-11-07•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance and Romania’s Finance Ministry discussed enhancing bilateral coordination on connectivity, energy cooperation, and the EU economic agenda. Key topics included simplifying European procedures, the Multiannual Financial Framework, and tax and customs cooperation. The meeting underscored significant bilateral trade, energy security initiatives, and Greece's support for Romania's Schengen and OECD integration efforts.
Policy & regulationCooperationCross-border cooperation
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2025-11-07•Global•International Financial Reporting Standards Foundation
The ISSB will develop new disclosure requirements on nature-related risks and opportunities, using the Taskforce on Nature-related Financial Disclosures framework. This aims to enhance investor information beyond current IFRS S1 and S2 standards. The ISSB will determine its approach, potentially including new guidance or standards, with an Exposure Draft expected by October 2026.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-11-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert regarding fraudulent websites, phishing emails, and fake banking screens linked to Shanghai Commercial Bank Limited and Chong Hing Bank Limited. The HKMA emphasized that banks will not request sensitive information via SMS, email, or phone. Affected individuals should contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-11-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's third quarter 2025 survey indicates that credit conditions for Small and Medium-Sized Enterprises (SMEs) remained broadly stable. However, 59% of SMEs perceived banks' credit approval stance as "similar" or "easier" than six months ago, down from 65% in the previous quarter, while 41% found it "more difficult," up from 35%. The HKMA noted potential fluctuations due to small sample sizes for SMEs with existing credit lines and new credit applications.
Data & statisticsEconomic data and developments
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2025-11-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported an increase in Hong Kong's foreign currency reserve assets to USD 426.0 billion at the end of October 2025, up from USD 419.1 billion in September. No unsettled foreign exchange contracts were recorded at the end of October, compared to USD 0.3 billion in September. The reserves cover over five times the currency in circulation and approximately 37% of the Hong Kong dollar M3.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT's Asset Recovery Network (RRAG) joined the inaugural MENAARIN meeting in Jeddah, Saudi Arabia. MENAARIN seeks to enhance coordination among member states to address illicit assets related to corruption, money laundering, and organized crime. The meeting emphasized strengthening cross-regional cooperation and aligning with FATF standards.
Policy & regulationCooperationCross-border cooperation
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2025-11-07•Belgium•National Bank of Belgium
The National Bank of Belgium announced changes to its macroprudential capital framework for 2026, reducing overall capital requirements for mortgage exposures by integrating the mortgage-specific buffer into a broader countercyclical capital buffer. The countercyclical buffer will increase from 1% to 1.25% on 1 July 2026, while the dedicated mortgage buffer will be abolished, lowering total capital requirements from EUR 3.9 billion to EUR 3.3 billion. This adjustment reflects improved lending quality and reduced vulnerabilities in mortgage portfolios.
Policy & regulationRules & requirements
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2025-11-07•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria released videos on euro coins featuring Bulgaria’s national side, circulating from 1 January 2026. Euro coin starter kits will be available from 1 December 2025, priced at BGN 20 for individuals and BGN 200 for businesses, sold through the National Bank, Bulgarian Posts, and banks. Train-the-trainer sessions are also being conducted to align with European Central Bank standards.
Financial literacy & educationCurrency and cash management
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2025-11-07•Global•Bank for International Settlements
The BIS Committee on Payments and Market Infrastructures and IOSCO released a Level 3 report on FMIs' management of business risks. It highlights concerns about FMIs' liquid net assets funded by equity for potential losses. A consultative report suggests supplemental guidance on recovery and orderly wind-down planning.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-11-07•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan has issued guidance on the "Stop-credit" service, allowing individuals to block bank loans and microloans to prevent fraud. Accessible via the egov.kz portal and eGov mobile app, it adds a refusal marker to credit histories, prompting banks and microfinance organizations to deny credit applications. The restriction can be lifted anytime but does not apply to pawnshops and entities not using credit bureau data.
Policy & regulationGuidance & interpretationLending
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2025-11-07•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved the appointments of Olga Vladislavovna Yugai and Karlygash Tlekovna Raikhanova to the executive body of KMF Bank JSC. The consent was granted under protocols No. 87/БВУ/Т and No. 88/БВУ/Т dated October 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-11-07•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan signed a memorandum with Abai Kazakh National Pedagogical University to enhance financial literacy among students. Activities will include lectures, webinars, and seminars on topics like personal budgeting and investment basics. The agency has established similar partnerships with other educational institutions across the country.
Financial literacy & educationCapacity building
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2025-11-07•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) warns about a Telegram group, "LeaderFatima_Vawda," falsely claiming ties to 27Four Investment Managers and its Managing Director, Ms Fatima Vawda. The group solicits funds with unrealistic return promises and lacks authorisation to provide financial services. The FSCA advises verifying authorisation status and exercising caution with social media investment offers.
SupervisionAlertsFraud and scams
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2025-11-07•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority (FSCA) warned about impersonators falsely claiming to represent Cuthman Capital (Pty) Ltd and its chief operating officer. These individuals use Telegram accounts to mislead the public by fraudulently associating themselves with Financial Services Provider number 51205. The FSCA advises verifying the authorisation status of financial services providers through its toll-free line or online register searches.
SupervisionAlertsFraud and scams
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2025-11-07•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia, in collaboration with the Ministry of Finance, launched financial literacy projects for children and young people, focusing on digital financial education. The initiatives, Masters of the Digital Future and Bodi FIN, will culminate in international and national events in May and March, respectively.
Financial literacy & educationFinancial literacy and education
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2025-11-07•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
Central Bank of Bosnia and Herzegovina Governor Jasmina Selimovic met with US Embassy Chargé d’Affaires John Ginkel to discuss cooperation and financial sector reforms. The meeting emphasized the domestic economy's resilience, supported by a stable monetary framework and currency board arrangement. Ginkel praised the central bank's transparency and reaffirmed US support for initiatives to strengthen the financial system and economic development.
Policy & regulationCooperationDomestic cooperation
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2025-11-07•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) attended the “Insurance and Ecological Transformation: Towards COP-30” seminar in São Paulo, discussing insurance and pensions in Brazil’s ecological transition. Topics included developing a green taxonomy, expanding coverage for extreme climate events, and the insurance sector's investment under Law No. 15.042. Superintendent Alessandro Octaviani emphasized a long-term strategy integrating insurance with civil defence and public financing to mitigate climate catastrophe impacts.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-11-07•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam's Business Sentiment Index for September 2025 showed slightly weaker sentiment, with the Current Business Conditions sub-index at 49.9. The decline was due to weak customer demand and a slowdown post-project completion, partially offset by seasonal factors and firm-level initiatives. Investment expectations were marginally positive, while employment remained stable but cautious, and costs increased slightly.
Data & statisticsEconomic data and developments
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2025-11-07•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) attended the International Organisation of Pension Supervisors (IOPS) and Global Forum on Private Pensions meetings in Istanbul to enhance Brazil's role in international pension discussions. PREVIC's Director for Standards, Alcinei Rodrigues, participated in the IOPS Executive Committee meeting, which approved guidelines for private pension supervision. PREVIC also held bilateral meetings with counterparts from China, India, South Africa, Angola, and Mozambique.
SupervisionCooperationCross-border cooperation
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2025-11-07•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in gross reserves to USD 71,550 million and the international liquidity position to USD 69,364 million as of 31 October 2025. Gold reserves rose to USD 16,210 million, while foreign exchange reserves increased to USD 48,839 million. The rise in reserves was due to a higher US dollar gold price, foreign exchange purchases, and asset price movements, partially offset by government foreign exchange payments.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•South Africa•South African Reserve Bank
The South African Reserve Bank's monthly statement of assets and liabilities reported a balance sheet total of ZAR 1.3 trillion as of 31 October 2025, an increase of ZAR 34.6 billion from the previous month. This rise was primarily due to higher gold and foreign assets, with notable increases in gold and foreign exchange reserves. On the liabilities side, bank deposits and notes and coin in circulation also saw significant increases.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•South Africa•South African Reserve Bank
The South African Reserve Bank's Prudential Authority sanctioned Discovery Bank Limited for non-compliance with the Financial Intelligence Centre Act 38 of 2001, following a 2021 inspection. Sanctions include four cautions and a ZAR 3 million penalty, with ZAR 1 million conditionally suspended. Non-compliance areas include delayed suspicious transaction reporting, inadequate employee training, failure to address transaction alerts promptly, and RMCP documentation deficiencies.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-11-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported an increase in Gross International Reserves (GIR) to USD 109.7 billion at end-October 2025, up from USD 109.1 billion at end-September 2025. The GIR level covers 7.3 months of imports and 3.7 times the short-term external debt. These reserves include foreign-denominated securities, foreign exchange, and gold, serving as a buffer for external liquidity needs.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported growth in the banking sector for the first half of 2025, with total assets rising 7.7% year on year to PHP 28.2 trillion and profits increasing 4.1% to PHP 198.1 billion. The report highlighted stable domestic deposits, strong liquidity, and capital buffers, alongside satisfactory asset quality. It also covered strategic initiatives in credit information, anti-money laundering, digital retirement savings, and financial cyber resilience.
Data & statistics
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2025-11-07•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission updated its guidance and filing template for beneficial ownership information to address industry challenges and reduce rejected filings. Changes include improved template usability, expanded guidance for correcting rejections, and streamlined error messages. Additionally, the expiry period for filing links has been extended to 31 March 2026, providing extra access time beyond the standard period.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-11-07•Serbia•National Bank of Serbia
The National Bank of Serbia reported that its RTGS and Clearing systems processed 19.2 million payments in October 2025 with 100% availability. RTGS handled 94.5% of transactions, totaling RSD 20,175.4 billion, while the Clearing system processed 5.5%, totaling RSD 26.9 billion. The Interbank and International Foreign Exchange Clearing Systems processed EUR 155.98 million, also maintaining 100% availability.
Data & statisticsActivity and performance reporting
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2025-11-07•Serbia•National Bank of Serbia
The National Bank of Serbia released October statistics for the IPS NBS 24/7/365 instant payments system, noting an average daily volume of 323,725 payments and a transaction execution time of 1.0 second. Total turnover reached RSD 128.7 billion, with an average daily turnover of RSD 4,151.9 million.
Data & statisticsFinancial and market indicators
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2025-11-07•Europe•European Central Bank
The European Central Bank released a redacted report on the February 2025 disruption of TARGET2 and TARGET2-Securities, detailing a 20-measure action plan to enhance resilience. The disruption was due to a critical hardware failure and its redundancy mechanism, prompting business continuity measures. The ECB will integrate findings into the annual T2S audit and maintain updates to the European Parliament.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-11-07•Europe•European Central Bank
The European Central Bank (ECB) integrates climate change risks into its collateral framework through the credit risk channel, requiring climate-related risks in credit ratings for collateral eligibility. Currently, 69% of in-house ratings include climate risk assessments, affecting less than 4% of ratings, with limited changes. The ECB plans to refine methodologies and address data gaps, emphasizing robust climate-related disclosures under the Corporate Sustainability Reporting Directive.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-11-07•Europe•European Central Bank
The European Central Bank's weekly financial statement shows a decrease in total assets and liabilities to EUR 6,156,666 million, driven by reduced monetary policy lending and a decline in securities held for monetary policy purposes. Lending to euro area credit institutions fell by EUR 3,212 million, while deposit facility balances increased by EUR 56,018 million. The shift in euro area bank liquidity from current accounts to the deposit facility contributed to the contraction.
Data & statisticsBalance of payments and other external statistics
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2025-11-07•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission, through Capital Markets Malaysia, released the Sustainable Batik Disclosure Guide to aid batik artisans in ESG data disclosure. Launched at the Batik Lestari Festival, it outlines 34 ESG disclosures aligned with sustainability standards and includes sector-specific steps for the batik industry. A memorandum with the Malaysian Handicraft Development Corporation aims to enhance ESG practices and market competitiveness for batik producers.
Policy & regulationGuidance & interpretationESG