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2025-10-31•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) granted temporary exemptive relief from certain compliance dates for Regulation NMS amendments, including minimum pricing increments and access fee caps. Compliance with specific rules is deferred to November 2026 and February 2026, due to ongoing litigation and concerns about market participants' readiness. The order also delays the requirement for exchanges to update rules reflecting the round lot definition until 30 days post-appropriations lapse.
Policy & regulationRules & requirementsRegulatory reporting
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2025-10-31•Italy•Bank of Italy
The Bank of Italy concluded its six-month FinTech Milano Hub programme, supporting 11 projects focused on instant and digital payments innovation. The initiative underscored the need for a systemic approach to payment solutions and collaboration among market participants to advance open banking and finance. It also highlighted potential regulatory adjustments, such as tax rules, to accommodate payments-led innovation.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsOpen banking and finance
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2025-10-31•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia refuted media claims of conducting financial operations with international banks, attributing such reports to politically motivated narratives. It highlighted a meeting under Supreme Decree No 5475, where officials detailed operations, including a rebound in Net International Reserves and efficient asset management. The bank remains committed to transparency and adherence to its constitutional mandate.
Policy & regulationGuidance & interpretationOther
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2025-10-31•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released its final quarterly liquidity assessment for bonds under MiFID II, identifying 1,195 bonds as liquid. This assessment will be discontinued as new transparency requirements take effect from 2 March 2026. Interim transparency measures for these bonds will apply from 17 November to 1 March 2026.
Policy & regulationImplementation, projects & pilotsLiquidity riskPrudential risks
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2025-10-31•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission (CMC) participated in the Angola PMEs Annual Summit 2025, emphasizing the role of capital markets in diversifying funding sources for small and medium-sized enterprises (SMEs) in Angola. António Van-Dúnem from CMC highlighted the importance of capital markets in SME growth during a panel on SME financing.
Policy & regulationOtherMarket development
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2025-10-31•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro will provide a EUR 2,000 savings deposit for babies born between 31 October and 6 November as part of its "Savings Week" campaign, in collaboration with commercial banks. The deposit, contributed equally by the central bank and the commercial bank, will be held for one year before withdrawal or reinvestment. The initiative also includes financial literacy activities, with nearly 2,800 children participating to date.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-10-31•Panama•Panama Superintendencia del Mercado de Valores
Panama’s Superintendency of the Securities Market appointed Rafael Moscarella as the new liquidator for PLUS CAPITAL MARKET, INC., replacing the previous liquidator in the ongoing forced liquidation process. This appointment was made via Resolution SMV-384-25 of 24 September 2025.
SupervisionAuthorisations & approvalsRecovery and resolution
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2025-10-31•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission, Bank of Spain, and Ministry of Economy, Trade and Enterprise are collaborating with the private sector to enhance the securitisation market for SME financing. This initiative includes developing a European securitisation platform with France, Germany, Italy, and Luxembourg, and forming a high-level working group on SME financing. The effort aligns with EU goals to deepen capital markets integration and improve cross-border securitisation.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-10-31•Italy•Bank of Italy
The Bank of Italy announced the eighth edition of Financial Education Month, running from 1 to 30 November, to enhance economic and financial literacy nationwide. Organized by the National Committee for Financial Education, the initiative includes free seminars, workshops, webinars, and educational games. The Bank of Italy will host events across the country, detailed on its “Economics for Everyone” website.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued a revised External Regulatory Circular DEFI-360, Subject 3, detailing temporary liquidity support under the Financial Stability Department manual. This update fully replaces the previous DEFI-360 circular from March 2025 and is directed at various financial sector entities, including banks and public financial institutions.
Policy & regulationRules & requirementsLiquidity risk
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2025-10-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that the Federal Court has extended freezing orders on the assets of Gregory Raymond Cotton and First Mutual Private Equity Pty Ltd. ASIC alleges approximately AUD 131 million was raised from 400 investors for ASX-listed shares, but funds were instead spent on gambling and investor payments, with only AUD 7 million in assets identified. The case returns to court on 2 December 2025 for a hearing on ASIC's application to appoint receivers.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-10-31•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) introduced regulations to enhance capital, liquidity, and funding resilience in Islamic banking, aligning with Basel III and Islamic Financial Services Board standards. Islamic commercial banks (BUS) and Sharia business units (UUS) must maintain a minimum Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) of 100%, with BUS also required to maintain a minimum leverage ratio of 3%. Reporting and public disclosure will be phased in from 2026 to 2028, with non-compliance potentially resulting in sanctions.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-10-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission announced that charges against Dean Scook, a former officer of Rock Mining Australia Limited, have been discontinued. The Office of the Director of Public Prosecutions filed a Notice of Discontinuance, citing a review under the Prosecution Policy of the Commonwealth as the basis for not proceeding with the charges.
EnforcementInvestigations & enforcement actionsOther
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2025-10-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian credit licence of GS-APAC Pty Ltd following a Compensation Scheme of Last Resort payout for an unpaid Australian Financial Complaints Authority (AFCA) determination. The scheme, operational since April 2024, covered AUD 51,998.15 and mandates licence cancellation upon such payouts. GS-APAC must remain an AFCA member until October 2026 to allow further complaints.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-10-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled Arrumar Private Pty Ltd's financial services licence, effective 23 October 2025, due to non-compliance with licence conditions and financial laws. Arrumar failed to join an external dispute resolution scheme and did not submit accurate financial statements for the year ending 30 June 2024. The cancellation was executed under section 915C(1) of the Corporations Act, and Arrumar can seek a review by the Administrative Review Tribunal.
EnforcementSanctions & designationsAccounting and financial reportingCompliance
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2025-10-31•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted rule-making and licensing decisions, including approving a draft procedure for managers' transaction disclosures and updating its 2025 rule-making plan. It confirmed compliance of LLC AMC STRONG CAPITAL and PJSC ALTERA FINANCE with Cabinet of Ministers Resolution No. 76, approved updates to NovaPay Credit LLC bond prospectuses, and registered issuances for several investment vehicles. Additionally, it supported draft measures on OECD anti-corruption guidelines and EU-aligned personal sanctions, updating the asset-blocking sanctions list.
Policy & regulationRules & requirementsLicence approval
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2025-10-31•Uruguay•Ministry of Economy & Finance (Uruguay)
Uruguay's Ministry of Economy and Finance, represented by subsecretary Martín Vallcorba, highlighted progress in financial inclusion and fintech ecosystem development at Fintech Summit Uruguay 2025. Achievements include expanded access to financial services, modernized payment systems, and increased electronic payment adoption, driven by tax incentives. Future priorities focus on fintech growth, financial education, consumer protection, and cybersecurity.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-10-31•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets fined Forvis Mazars Accountants N.V. EUR 446,000 for failing to prevent exam fraud within the firm. Nearly 100 professionals were involved in misconduct from 2020 to 2023, with deficiencies in policies and safeguards identified. The case was settled after Forvis Mazars accepted the fine, with mitigating factors considered by the AFM.
EnforcementInvestigations & enforcement actionsAuditing
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2025-10-31•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets released a speech by Jan Berndsen, Head of Account Supervision and Assessments, highlighting that financial risks often change form and remain hidden. Berndsen emphasized that calm market periods can obscure vulnerabilities, urging regulators and market participants to proactively identify and address risks.
SupervisionRisk monitoring & watch pointsRisk analysis and outlook
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2025-10-31•Uruguay•Central Bank of Uruguay
Central Bank of Uruguay President Guillermo Tolosa advocated reducing dollarisation of savings and boosting confidence in the Uruguayan peso to enhance domestic purchasing power and the economy. He noted that pricing imported goods in US dollars shifts foreign-exchange risk into sales risk and that saving in US dollars results in a loss of purchasing power and hinders local credit and investment. Tolosa described fears of abrupt devaluations as unjustified in the current macroeconomic context.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-10-31•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Quarterly Financial Accounts edition, detailing aggregated financial assets and liabilities by sector for the quarter ending June 2025. The report includes data on various sectors such as non-financial corporations, monetary financial institutions, and households. It is available in both Greek and English.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-31•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has set the reference interest rate at 11.84% under Article 314A of Cyprus’ Criminal Code Law. This rate determines when interest-related financial benefits in lending arrangements may constitute a criminal offence, with penalties including up to five years imprisonment, a fine of up to EUR 30,000, or both.
Policy & regulationImplementation, projects & pilotsFinancial benchmarks
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2025-10-31•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported September 2025 statistics showing modest increases in deposit rates and declines in consumer and housing loan rates, with net new lending rising to EUR 447.9 million. Household deposit rates increased to 1.10%, while consumer loan rates fell to 6.46% and housing loan rates to 3.63%. Compared to the euro area, Cyprus loan rates on existing loans were close to the median, but fixed-term deposit rates were lower.
Data & statisticsMonetary data
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2025-10-31•Ecuador•Superintendencia de Bancos de Ecuador
Superintendent Roberto Romero von Buchwald of Ecuador's Superintendency of Banks addressed the VII Banking Security Days, emphasizing enhanced supervision and user protection to boost financial security and customer confidence. He covered coverage, liquidity, delinquency, solvency, actions against unauthorized entities, and integrating SupTech for stability. Hosted by the Association of Private Banks of Ecuador, the event featured 25 speakers on cyber-physical security, fraud prevention, and AI-driven threats.
SupervisionSupervision approach, priorities & toolkitCyber resilienceSupervision process and methodologies
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2025-10-31•Ireland•Central Bank of Ireland
The Central Bank of Ireland's seventh annual Private Motor Insurance Report highlights increased average premiums and rising claims costs in 2024. Damage claims significantly impacted overall claims outlays, reducing profitability to 4% of total income, down from 8% in 2023. The report noted a 9% increase in average written premiums per policy and a 3% rise in expected claims costs, with damage claims accounting for 54% of settled claim costs.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-31•Indonesia•OJK
Indonesia’s Financial Services Authority (OJK) stressed stronger consumer protection amid digitalization, focusing on financial literacy to combat scams. OJK halted over 1,800 illegal financial entities and highlighted the Indonesia Anti-Scam Centre's efforts against fraud. Additionally, OJK is advancing policy on crypto assets, refining trading regulations, and enhancing cybersecurity guidelines.
Policy & regulationReform agendas & prioritiesConsumer and investor protectionFintech and insurtech
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2025-10-31•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released Report 819 on its oversight of financial reporting and audit for the year ending 30 June 2025. The report highlights surveillance findings, enforcement actions, and compliance measures, including changes by 18 entities and disciplinary actions against auditors. ASIC plans to expand its 2025–26 surveillance program with increased audit file reviews and a focus on sustainability reports.
SupervisionReviews, inspections & stress testsAuditingAccounting and financial reporting
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2025-10-31•Georgia•National Bank of Georgia
The National Bank of Georgia's World Savings Day campaign, via its Finedu platform, focused on student financial literacy and marked the 30th anniversary of the Georgian lari. It included game-based lessons by bank employees, involving over 5,700 students, with participation from the First Vice Governor and Board members. The campaign also featured a pilot program with "Finedu Ambassadors" and outreach to regional schools.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Georgia•National Bank of Georgia
The National Bank of Georgia, in collaboration with several supervisory bodies, has launched the "Best Annual Report and Transparency Award" (BARTA) 2025 competition to enhance corporate reporting and transparency in Georgia. Supported by the World Bank and the Business Association of Georgia, the initiative includes 10 prize categories, with winners announced in February 2026.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-10-31•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia reported a stable banking system in Q2 2025, with improved solvency and a capital adequacy ratio of 19.6%. Liquidity was satisfactory, and asset quality improved as the non-performing loan ratio fell to 2.4%. The Council also adopted a Sustainability Framework to enhance sustainable practices in its operations.
SupervisionRisk monitoring & watch pointsRisk analysis and outlookSupervisory data
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2025-10-31•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia, with the National Bank of Georgia and others, launched the 2025 Best Annual Report and Transparency Award (BARTA) competition. Supported by the World Bank and Georgian Business Association, it is open to first-category companies and public interest entities, with winners announced in February 2026 across 10 categories. Established in 2019, BARTA aims to enhance financial inclusion and accountability under a European Union and World Bank initiative.
OtherAccounting and financial reporting
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2025-10-31•United States•National Credit Union Administration
The National Credit Union Administration issued a consent-based Order of Prohibition in October 2025, permanently barring Shwe Siedschlag, a former employee of Affinity Plus Federal Credit Union, from participating in any federally insured depository institution. This action resolves the NCUA Board’s claims against her. The NCUA also issues other administrative orders under Section 206 of the Federal Credit Union Act.
EnforcementSanctions & designations
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2025-10-31•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) held an awareness session for the Special Investment Facilitation Council on company incorporation and ease of doing business. The session highlighted SECP's digital incorporation via the eZfile portal and recent initiatives to simplify registration. Discussions also covered collaboration and future coordination between SECP and SIFC to enhance business entry processes.
Policy & regulationGuidance & interpretationFinancial literacy and education
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2025-10-31•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported September bond, money, commercial bills, and equity market statistics, with total bond issuance at CNY 8.1 trillion and an outstanding custody balance of CNY 193.1 trillion. Foreign institutions held CNY 3.8 trillion, or 2.0%, mainly in government bonds, negotiable certificates of deposit, and policy bank bonds. Interbank lending turnover was CNY 9.3 trillion, and bond repo turnover was CNY 159.0 trillion, with average interbank lending and pledged repo rates at 1.45% and 1.46%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-31•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners announced the departure of CEO Gary Anderson, effective 29 October 2025, and appointed Jeff Johnston, Chief Regulatory Affairs Officer, as interim CEO. Johnston has over 25 years of experience with the NAIC.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-31•Europe•European Banking Authority
The European Banking Authority (EBA) released its second report benchmarking national loan enforcement and insolvency frameworks across EU Member States, highlighting significant disparities in recovery outcomes. Based on over 1.4 million loans, it identifies legal frameworks and judicial capacity as key factors influencing recovery rates and times. The report notes stable gross recovery rates but declining net recovery rates and increased recovery times, with features like out-of-court enforcement and SME restructuring options linked to better outcomes.
ResearchRecovery and resolution
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2025-10-31•Norway•Department of Finance (Norway)
Norway's Department of Finance has designated DNB Bank ASA, Kommunalbanken AS, Nordea Eiendomskreditt AS, Sparebank 1 Sør-Norge ASA, and Sparebanken Norge as systemically important financial institutions, imposing buffer requirements. DNB Bank ASA must maintain a 2% buffer, while the others must meet a 1% requirement, with Sparebanken Norge's requirement effective from 31 March 2027. The decision follows Finanstilsynet's advice and approval by the Standing Committee of the EFTA States.
Policy & regulationRules & requirementsFinancial stability and systemic riskMacroprudential policy and tools
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2025-10-31•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) marked World Savings Day by educating around 1,000 Portuguese students on saving. These sessions, part of the Ministry of Education's initiative, emphasized long-term saving strategies, risk understanding, diversification, and credible information sources, with collaboration from financial supervisors and higher-education students and faculty.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Netherlands•Ministry of Finance (Netherlands)
The Netherlands Ministry of Finance proposes tightening Buy Now, Pay Later (BNPL) regulations to enhance consumer protection by implementing the European Consumer Credit Directive II (CCDII). BNPL providers would need an Autoriteit Financiële Markten (AFM) licence and conduct creditworthiness assessments. The proposal includes banning BNPL for those under 18, enforcing stricter advertising rules, and imposing additional requirements on foreign providers.
Policy & regulationRules & requirementsBNPL
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2025-10-31•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong has appointed Ms Sabrina Ho Shuk-ying as Chairman of the Process Review Panel for the Insurance Authority (PRP-IA) for a two-year term starting 1 November 2025. New members include Ms Charity Au Chi-san, Ms Zabrina Lau Shing-yan, and Mr Patrick Siu Tsz-him, while several members have been reappointed. Established in 2019, the PRP-IA reviews the Insurance Authority's internal procedures and operational guidelines.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-31•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong announced appointments to the Payment Systems and Stored Value Facilities Appeals Tribunal and the Process Review Committee, overseeing Hong Kong Monetary Authority decisions. Mr Richard Khaw Wei-kiang was appointed Chairman of the Appeals Tribunal, and Mr Jack Chan Hoi was reappointed Chairman of the Process Review Committee. These bodies enhance accountability through independent review of HKMA decisions.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-31•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau announced new appointments to the Process Review Panel for the Mandatory Provident Fund Schemes Authority, with Mr Johnny Ip Chun-yuen as chairman and three new members. The panel reviews and advises on the internal procedures of the MPFA, with appointments effective November 1, 2025, for a two-year term. The Bureau also acknowledged the contributions of the outgoing chairman and members.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-31•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau announced the appointment of Mr. Douglas Lam Tak-yip, SC as chairperson and six panel members to the Stablecoin Review Tribunal under the Stablecoins Ordinance. The Tribunal, established to review decisions by the Hong Kong Monetary Authority, will serve a three-year term from November 1, 2025, to October 31, 2028.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-31•New Zealand•Department of Internal Affairs
New Zealand’s Department of Internal Affairs accepted an enforceable undertaking from Lexington Trust Services Limited for serious breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The Auckland company failed to maintain a compliant AML/CFT programme and did not report suspicious activities. Lexington must cease AML/CFT activities without departmental consent. The Department emphasized that enforceable undertakings ensure compliance without court action and clarified that Lexington is not accused of money laundering or terrorism financing.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-10-31•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission seeks disqualification orders against three former directors of China Longevity Group Company Limited for alleged financial misstatements. The investigation found significant overstatements of cash and cash equivalents in 2011 and 2012, affecting annual and interim reports. The court granted leave for service out of jurisdiction, with judicial assistance sought in the Mainland.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-10-31•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance proposed a draft bill introducing permanent tax and pay measures, including personal income tax rate reductions and targeted relief for families, young workers, and regional residents. Costing EUR 1.76bn in the first year and averaging EUR 2.5bn annually from 2027, these measures aim to increase net income for over four million taxpayers from January 2026. Key changes include reduced tax rates for various income brackets, regional tax adjustments, and incentives for investment in defence manufacturing.
Policy & regulationRules & requirements
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2025-10-31•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has initiated enforcement action against Hardeep Minhas, proposing a CAD 3,000 penalty for allegedly offering an insurance rebate as an incentive. Minhas is accused of violating Ontario’s Insurance Act and its regulations. A hearing before the Financial Services Tribunal has been requested by Minhas.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-10-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) plans to consult on amendments to CPS 230 Operational Risk Management by the end of 2025. These changes aim to address challenges with non-traditional service providers (NTSPs) like stock exchanges and payment schemes. The amendments will clarify expectations for contract uplift and service level monitoring, while other CPS 230 risk obligations remain unchanged. APRA intends to finalize these changes by 1 July 2026, following an accelerated consultation process.
Policy & regulationRules & requirementsOperational risk and resilience
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2025-10-31•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Financial Intelligence Unit (UIF) issued an alert on rising money laundering linked to environmental crimes like illegal mining, logging, and wildlife trafficking. Over the past decade, UIF received over 5,700 suspicious transaction reports related to illegal mining, totaling USD 22.8 billion. The UIF urged entities to enhance controls and report transactions, highlighting detection typologies and warning signs like excessive cash use for real estate and vehicle purchases.
SupervisionAlertsAML and CFT
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's September 2025 residential mortgage survey indicates a 1.1% decrease in applications to 8,316, but a 9.4% increase in approvals to HKD 31.4 billion. Loans drawn down rose 9.7% to HKD 20.9 billion, with a decline in HIBOR-referenced loans from 94.4% to 92.6%. Outstanding mortgage loans increased 0.2% to HKD 1,891.4 billion, with a delinquency ratio of 0.13%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert warning the public about phishing SMS messages falsely claiming to be from the HKMA regarding insurance service activation. The HKMA emphasized it does not contact individuals about personal financial matters and has reported the case to the Hong Kong Police Force. Suspected victims are advised to contact the Police or the Commercial Crime Bureau for investigation.
SupervisionAlertsFraud and scams
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and Hong Kong Cyberport co-hosted a Generative AI Symposium, concluding the first GenA.I. Sandbox cohort and launching the second. The HKMA report highlighted GenA.I.'s banking potential and introduced a pilot chatbot. The symposium, with over 500 attendees, also launched Project Noor, a collaboration with the Bank for International Settlements Innovation Hub for an explainable AI toolkit.
Policy & regulationImplementation, projects & pilotsArtificial intelligenceFintech and insurtech
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported total Exchange Fund assets rose to HKD 4,152.2 billion as of 30 September 2025, with Hong Kong dollar assets up by HKD 97.2 billion and foreign currency assets down by HKD 15.2 billion. The Monetary Base increased by HKD 6.0 billion to HKD 2,020.2 billion, while Backing Assets rose by HKD 7.0 billion to HKD 2,218.2 billion, raising the Backing Ratio to 109.80%. The HKMA emphasized its commitment to transparency through regular monthly press releases on Exchange Fund data.
Data & statisticsBalance of payments and other external statistics
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released analytical data on foreign currency reserves and liquidity for September 2025, adhering to the IMF's Special Data Dissemination Standard. It also announced the 2026 release schedule for monthly data publications. Additionally, the HKMA confirmed its monthly issuance of four Exchange Fund data press releases, including three SDDS monetary data releases.
Data & statisticsBalance of payments and other external statistics
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a 1.3% increase in total deposits and a 0.7% rise in total loans and advances for September 2025. The Hong Kong dollar loan-to-deposit ratio decreased to 73.6% from 74.6% in August, with notable increases in renminbi deposits and remittances. The HKMA also released the 2026 schedule for monetary statistics, highlighting the volatility of monthly data.
Data & statisticsMonetary data
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2025-10-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a decrease in residential mortgage loans (RMLs) in negative equity to 31,449 cases at end-September 2025, down from 37,806 at end-June. The delinquency ratio for these loans remained low at 0.24%. The aggregate value of negative equity RMLs fell to HKD 156.8 billion, with most cases linked to bank staff housing loans or those under the mortgage insurance programme.
Data & statisticsAsset quality
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2025-10-31•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) has suspended trading of Impresa - SGPS, SA shares under Articles 214 and 213/2/b) of the Securities Code. This action is pending the disclosure of relevant information.
SupervisionInterventionsDisclosuresTrading
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2025-10-31•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has de-registered Quartz Consultancy Limited under the Designated Businesses (Registration & Oversight) Act 2015. This action was taken in accordance with section 12(1)(a) of the Act, effective 31 October 2025.
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
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2025-10-31•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission's Secretary-General, Chuchart Pramoolpol, addressed the Thailand Reinsurance Conference 2025, emphasizing efforts to bolster insurance solvency and market resilience against climate-related risks. Initiatives include expanding catastrophe risk assessments, enhancing the Risk-Based Capital framework, strengthening insurers' risk management standards, and promoting governance for proactive risk management.
Policy & regulationReform agendas & prioritiesOther
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2025-10-31•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina celebrated World Savings Day by engaging over 400 students in financial literacy activities and reporting on household savings trends. As of September 2025, household deposits reached KM 18.88 billion, an 11.5% year-on-year increase, with KM-denominated deposits rising 16.8%. Transaction accounts saw the most significant growth, contributing to the overall increase.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has re-documented the banking licence of Closed Joint-Stock Company International Bank of Tajikistan for operations in national and foreign currency, invalidating the previous licence from March 2016.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-10-31•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has issued commemorative TJS 100 banknotes to celebrate the 25th anniversary of the somoni, effective 30 October 2025. These banknotes, featuring cultural and historical designs, will circulate alongside existing TJS 100 notes as legal tender.
Monetary policyOther
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2025-10-31•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the Eurasian Group Secretariat held a seminar to prepare Tajikistan's experts and financial sector for the Eurasian Group's third mutual evaluation. The event aimed to improve anti-money laundering, counter-terrorist financing, and counter-proliferation systems, with participation from state authorities and international experts. Key topics included updated Financial Action Task Force recommendations, evaluation methodologies, and enhancing interagency cooperation.
Policy & regulationCooperationAML and CFT
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2025-10-31•Spain•Bank of Spain
The Bank of Spain reported that Spain's net lending position decreased to 4.1% of GDP (EUR 67.6 billion) over the 12 months to August 2025, down from 4.4% a year earlier. The current account surplus narrowed to 2.9% of GDP, while the capital account surplus was 1.2% of GDP. A larger tourism surplus partially offset weaker non-tourism goods and services, with the financial account balance excluding the Bank of Spain falling to 2.4% of GDP.
Data & statisticsBalance of payments and other external statistics
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2025-10-31•Spain•Bank of Spain
The Bank of Spain, alongside Spain’s Ministry of Economy, Trade and Business and the National Securities Market Commission, is collaborating with the private sector to enhance the securitisation market for SME financing. A high-level task force will assess SME financing access and propose a European securitisation platform. The Bank of Spain also supports broader use of independent ratings and complementary initiatives to the European Commission’s securitisation framework revision.
Policy & regulationCooperationSecuritizationMarket development
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2025-10-31•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten, with Nyenrode Business University, released its Financial Sector Strategic Review report, assessing risks and opportunities for the monetary union's financial sector. It outlines four strategic pathways: Business as Usual, Digital Financial Infrastructure, Green Finance and ESG Leadership, and Regional Wealth and Pension Innovation. Stakeholders preferred hybrid approaches combining stability with digital or green initiatives.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-10-31•Portugal•Bank of Portugal
The Bank of Portugal released updated September 2025 statistics on interest rates and volumes for new bank deposits and loans to households and companies. The average rate on new household time deposits held steady at 1.34%, while the average rate on new housing loans fell to 2.84%. New lending to households totaled EUR 3,409 million, with EUR 2,926 million in new contracts, and new lending to companies increased to EUR 2,210 million with an average rate of 3.59%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-10-31•Europe•European Central Bank
The European Central Bank's Economic Bulletin notes slight improvements in euro area business conditions, with modest growth and challenges in manufacturing due to tariffs and competitiveness issues. Consumer spending remains weak, with cautious consumers and flat demand for passenger cars amid regulatory uncertainty. Employment is slightly declining, and wage growth is moderating, while investment in digital infrastructure and AI is strong despite geopolitical and policy uncertainties.
Data & statisticsMarket development
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2025-10-31•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Singapore Police Force are addressing the Prince Holding Group case through the Anti-Money Laundering Case Coordination and Collaboration Network. Led by the Commercial Affairs Department and MAS, the network involves sector supervisors and law enforcement. Financial institutions have filed suspicious transaction reports and implemented risk mitigation measures, including account closures, since 2022.
SupervisionCooperationAML and CFTCross-border cooperation
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2025-10-31•Europe•European Central Bank
The European Central Bank's September 2025 Eurosystem Survey reported largely unchanged credit terms in euro-denominated securities financing and OTC derivatives markets from June to August 2025, with minor tightening for banks, dealers, and non-financial corporations. Balance sheet availability and counterparty financial strength were key tightening factors, while market liquidity and competition eased price terms. For Q4 2025, respondents anticipate stable credit terms with slight price easing for most counterparties, excluding banks and hedge funds.
Data & statisticsMarket risk and volatilityPrudential risks
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2025-10-31•Europe•European Central Bank
The European Central Bank's September 2025 Survey showed largely unchanged credit terms from June to August 2025. Non-price terms tightened slightly for banks, dealers, and non-financial corporations, while price terms eased for hedge funds and other financial entities. Demand for secured funding increased, except for asset-backed securities and high-quality non-financial corporate bonds, with no expected changes in overall credit terms for the fourth quarter of 2025.
Data & statisticsCredit risk
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2025-10-31•Europe•European Central Bank
The European Central Bank's Legal Working Paper analyzes the impact of human rights-based climate case law, particularly the European Court of Human Rights’ KlimaSeniorinnen ruling, on EU institutions and the financial system. It discusses the ECtHR's recognition of climate protection rights under Article 8 of the European Convention on Human Rights and its implications for litigation and transition risks, as well as international advisory opinions reinforcing state climate obligations and their potential effects on corporate and financial institution claims.
ResearchClimate risk and sustainable finance
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2025-10-31•Serbia•National Bank of Serbia
The National Bank of Serbia will launch the Central Registry of Electronic Bills of Exchange (CReM) on 1 December 2025, facilitating electronic processing alongside paper versions. The Executive Board and Governor have set detailed rules for the Register of Bills of Exchange and Authorizations, and amended decisions on enforced collection and service fees. Banks must offer electronic bills to legal entities and entrepreneurs by December 2025, extending to citizens by November 2026.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-31•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) launched a public consultation to modernize the regulatory framework for real estate investment funds (FIIs) and announced cooperation agreements with the European Economic Area and the Astana Financial Services Authority. The CVM highlighted enforcement actions, including fines totaling BRL 26 million for fraudulent activities, and approved Brazilian index listings on Chinese exchanges under the Brazil–China ETF Connect programme.
Policy & regulationRules & requirementsOther
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2025-10-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia's Policy Document on Management of Customer Information requires financial service providers to report significant breaches to the central bank and notify affected customers. This aligns with amendments to the Personal Data Protection Act 2010, mandating breach notifications to the Personal Data Protection Commissioner. The policy includes templates for reporting and disclosure applications and is effective immediately.
Policy & regulationRules & requirementsData protection
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2025-10-31•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released the agenda for its Board meeting on 31 October 2025, covering bond issuance documentation, insurance company governance, and outsourcing arrangements. The agenda includes updates on the authority's budget execution and AML/CFT supervisory activities, alongside decisions on audit firm approvals, corporate name changes, and board appointments.
SupervisionAuthorisations & approvalsAuditing
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2025-10-31•Albania•Albania Financial Services Authority
The Albania Financial Services Authority issued decisions impacting capital markets, insurance, and investment management, including bond registrations for First Investment Bank Albania and Credins Bank. It approved audit firms for 2025 insurance financial statements, authorised Sigal Uniqa Group Austria name changes, and amended SiCRED’s statute. It also cleared governance appointments, delegated IT and marketing functions, and authorised insurance agency activities.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-10-31•Canada•Ontario Securities Commission
The Ontario Securities Commission's Capital Markets Tribunal approved a settlement with Jessica Tam over an insider trading scheme involving Score Media & Gaming Inc. Tam admitted to insider trading, receiving a two-year market ban and disgorging CAD 120,000 in profits. She also received cooperation credit and agreed to testify in future proceedings.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-10-31•Zambia•Bank of Zambia
The Bank of Zambia, as liquidator of Ecsponent Financial Services Limited trading as MyBucks, issued a notice for depositors and creditors to collect statements and file claims by 10 December 2025. Lusaka customers can access statements until this date, while those outside Lusaka can collect theirs from 10 November 2025 per a regional schedule. Unclaimed funds or property within 60 days of statement availability will be managed under Section 128(6) of the Banking and Financial Services Act, 2017.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-10-31•Zambia•Bank of Zambia
The Bank of Zambia has informed stakeholders of Investrust Bank PLC's liquidation that the liquidation schedule is available for inspection. The schedule will be filed in the High Court of Zambia on 15 December 2025, allowing 21 days for objections to any proposed steps.
SupervisionInterventionsRecovery and resolution
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2025-10-31•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,150 examines using embeddings from open-source large language models (LLMs) to estimate economic and financial variables. A simple linear model trained on embeddings can outperform text outputs for certain statistics. The study covers datasets from the US, UK, EU, and Germany, showing the effectiveness of the embedding-based approach, especially for less common statistics. It also discusses a transfer learning approach, noting that reasoning-tuned models do not consistently improve accuracy despite higher computational costs.
ResearchArtificial intelligence
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2025-10-31•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has issued a draft memorandum for public comment, proposing caps on interest rates and fees for lending companies to prevent predatory pricing on small loans. It sets a maximum nominal interest rate of 6% per month and an effective interest rate cap of 10% per month for loans up to PHP 20,000, with late payment penalties limited to 5% per month. The proposal includes a total cost cap of 100% of the borrowed amount and outlines escalating sanctions for non-compliance, including fines and potential suspension or revocation of licenses.
Policy & regulationRules & requirementsLending
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2025-10-31•Global•World Federation of Exchanges
The World Federation of Exchanges issued a World Savings Day statement emphasizing that inflation can diminish the real value of cash savings and advocating for access to capital markets for long-term financial well-being. It urged public policy support for exchange growth and warned that barriers to capital markets can hinder growth for enterprises and investors.
Policy & regulationReform agendas & prioritiesFinancial and market indicatorsFinancial stability and systemic risk
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2025-10-31•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency reported Board Member Martina Verić’s participation in a World Savings Day round table, highlighting Hanfa's role in supporting market development beyond supervision. Discussions included capital market trends, digitalisation, and the Strategic Framework for the Development of the Capital Market in Croatia until 2030, with insights on shifting household financial assets and the impact of new technologies on savings and investment trends.
Financial literacy & educationFinancial literacy and educationMarket development
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2025-10-31•Russia•Central Bank of Russia
The Central Bank of Russia has cancelled the banking licence of LLC Drive Click Bank following its request for voluntary liquidation by its sole shareholder. Drive Click Bank, ranked 111th by assets in Russia, will have a liquidation commission appointed under Article 23 of the Federal Law ‘On Banks and Banking Activities’. The bank is part of the deposit insurance system.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-10-31•Kyrgyzstan•National Bank of the Kyrgyz Republic
Staff from the Issyk-Kul regional office of the National Bank of the Kyrgyz Republic delivered lectures to senior students at Z. Abdrahmanov secondary school on World Savings Day 2025. Topics included the importance of saving, the history of the Kyrgyz som, QR-code payments, and pyramid schemes.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Jalal-Abad regional office conducted outreach lectures for students during World Savings Day 2025. The sessions focused on the importance of saving, the development of the som, and the central bank's monetary policy and activities.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Osh regional office conducted guest lectures from 27 to 30 October 2025 for World Savings Day, engaging over 600 students and pupils. Topics included national currency development, QR code payments, credit, deposits, savings, and fraud prevention. Participating institutions were Osh Technological University and secondary schools in Nookat, Uzgen, and Kara-Suu districts.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic hosted the annual "World Savings Day" financial literacy campaign, featuring a financial fair and speaker sessions at the A. Osmonov National Library. The event, attended by government and financial sector representatives, focused on savings behaviour, deposit protection, and personal financial security, attracting around 400 participants.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Thailand•Thailand Securities & Exchange Commission
Thailand's SEC reported a rise in suspicious-activity reports via its Investment Scam Hotline in September, urging public caution. The SEC highlighted social-media-driven scams involving stocks, mutual funds, and digital assets, warning against impersonations of financial entities. It coordinated with social media platforms to block fraudulent accounts and advised investors to use SEC resources for validation and reporting.
SupervisionAlertsFraud and scams
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2025-10-31•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority approved CASH PLUS's IPO prospectus for a capital increase and secondary share sale up to MAD 750 million, listing on the Principal F market. The offering includes 2 million new shares and up to 1.8 million existing shares, priced at MAD 200 each. The prospectus covers the 2024 financial year and the first half of 2025, following approval by the company's extraordinary shareholders meeting on 17 October 2025.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-10-31•Europe•European Banking Federation
The European Banking Federation (EBF) published a policy note asserting that the EU regulatory framework does not hinder banks from financing the defence industry. The note emphasizes banks' strategic importance to Europe's growth and security and suggests measures to enhance an investment-ready market, such as demand consolidation and clearer procurement signals. The EBF also seeks to engage in discussions on strengthening the European Defence Technological and Industrial Base.
Policy & regulationReform agendas & prioritiesOther
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2025-10-31•Canada•Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada (FCAC) launched its Financial Literacy Month 2025 campaign themed “Talk Money” to encourage Canadians to discuss personal finances and reduce stigma. The initiative highlights evidence that discussing money can enhance financial confidence, referencing FCAC's report on young women's improved financial behaviours. FCAC also introduced a “$15 Stretch Challenge” on social media and provided tools and materials for libraries and community organizations.
Financial literacy & educationFinancial literacy and education
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2025-10-31•Albania•Bank of Albania
The Bank of Albania's 2024 Annual Report, presented by Governor Gent Sejko, outlines a shift to a more accommodative monetary policy, including interest rate cuts and significant foreign-exchange purchases to stabilize the lek. It highlights supervisory and macroprudential measures, such as revised rules for non-bank financial institutions, a cap on consumer loan interest rates, and enhanced foreign-exchange bureau supervision. Additionally, Albania's entry into the Single Euro Payments Area and developments in payment systems and open banking are noted.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-10-31•United States•Federal Reserve Board
The Federal Reserve Board has authorized First Security Bank of Searcy, Arkansas to open a new branch at 4007 North Rodney Parham Road in Little Rock, Arkansas.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-31•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets participated in an OSCE workshop in Helsinki focused on the regulation of crypto-asset service providers, emphasizing Finland’s approach. The event, attended by several Moldovan authorities, aimed to support Moldova's alignment with EU Regulation 2023/1114 on markets in crypto-assets. Discussions included legislative frameworks and supervisory mechanisms for the crypto market.
Policy & regulationCooperationRegtech and suptech
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2025-10-31•Moldova•National Commission for Financial Markets
The National Commission for Financial Markets and European Commissioner Maria Luís Albuquerque discussed priorities for strengthening Moldova’s financial market, focusing on modernisation, supervision, and investment. Commission Chair Dumitru Budianschi highlighted EU support for legislative harmonisation and the approval of the National Strategy for Capital Market Development 2025–2030. Plans include establishing a new stock exchange with the Bucharest Stock Exchange by mid-2026.
Policy & regulationCooperationMarket development
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2025-10-31•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) released its inaugural pay transparency report under the Pay Transparency Act, revealing a 14.44% mean and 19.05% median gender pay gap. The report attributes these gaps to the underrepresentation of women in senior roles and overrepresentation in lower-level positions. BCFSA plans to address these disparities through leadership development, inclusive hiring, and succession planning.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-10-31•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway is consulting on draft regulations to extend the transitional period for authorisation under Article 63 of the Markets in Crypto-Assets Regulation. The proposal would allow virtual currency exchange and custody service providers to operate until 30 June 2026, pending authorisation. The consultation aims to provide clarity on deadlines before the current period ends.
Policy & regulationRules & requirementsLicensing framework and process
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2025-10-31•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority will consult by the end of 2025 on amendments to CPS 230 Operational Risk Management, addressing challenges with non-traditional service providers. The amendments will clarify expectations for contract uplift and service level monitoring, with final changes expected by 1 July 2026.
Policy & regulationRules & requirementsOperational risk and resilience