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  • 2025-10-29CanadaCanadian Investment Regulatory Organization

    Canadian Investment Regulatory Organization updates on proposed rules to introduce an incorporated advisor compensation option

    The Canadian Investment Regulatory Organization (CIRO) updated its project to develop rule amendments for an incorporated advisor compensation option, aiming to harmonize compensation for investment dealer and mutual fund dealer advisors. CIRO is leading this initiative, overseen by the Canadian Securities Administrators. The update includes proposal features, a submission to the Canada Revenue Agency, and CIRO's next steps.

    Policy & regulationRules & requirementsOther
  • 2025-10-29ChileChile Financial Market Commission

    Chile Financial Market Commission publishes September 2025 banking and cooperatives performance report showing rising loan growth and mixed credit risk trends

    The Chile Financial Market Commission's September 2025 report noted real-term loan growth and mixed credit risk indicators. Banking system loans rose 2.19% to USD 286,424 million, with profits at USD 464 million. Savings and credit cooperatives saw a 6.7% loan increase to USD 3,551 million and profits rising to USD 8 million. Key metrics showed varied movements, including increased arrears ratios and mixed changes in provisions and impairment across different loan portfolios.

    SupervisionRisk monitoring & watch pointsActivity and performance reporting
  • 2025-10-29United StatesU.S. Securities & Exchange Commission

    U.S. Securities & Exchange Commission to assess relief from security-based swap dealer de minimis phase-in termination date

    The U.S. SEC announced the scheduled end of the phase-in for the de minimis exception to the security-based swap dealer (SBSD) definition, potentially providing relief to prevent lower registration thresholds before reviewing a staff report and public comments. The phase-in expires on November 8, 2026, with thresholds of USD 3 billion for credit default swaps and USD 150 million for non-credit-default SBSs. The SEC may propose revisions to these thresholds and the phase-in termination date after evaluating the report and comments.

    Policy & regulationGuidance & interpretationOther
  • 2025-10-29AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority launches second consultation on principles-based capital settings for longevity products including annuities

    The Australian Prudential Regulation Authority has initiated a second consultation on revisions to its capital framework for longevity products, including annuities, to enhance product development for retirees while protecting policyholder interests. The updated proposals, reflecting feedback from a June 2025 consultation, adopt a more principles-based approach to capital requirements, with submissions due by 17 December 2025.

    Policy & regulationRules & requirementsCapital adequacy
  • 2025-10-29GlobalThe Net Zero Asset Managers initiative

    The Net Zero Asset Managers initiative updates its Commitment Statement, dropping 2050 references and clarifying implementation constraints

    The Net Zero Asset Managers initiative has updated its Commitment Statement to enhance practicality and global inclusivity while aligning with the Paris Agreement goals. The revised framework acknowledges that implementation depends on clients and governmental policies, removing references to 2050 to accommodate jurisdictional differences. Target and implementation support activities are expected to resume in early 2026.

    Policy & regulationGuidance & interpretationClimate risk and sustainable finance
  • 2025-10-29EgyptCentral Bank of Egypt

    Central Bank of Egypt spotlights talent development as Egyptian Banking Institute graduates 93 Future Leaders

    The Central Bank of Egypt announced the graduation of 93 participants from the Egyptian Banking Institute's "Future Leaders" programme, aligning with its human-capital agenda. Governor Hassan Abdalla highlighted the programme's integration with the new "Bachelor of Banking Sciences" initiative. The "Future Leaders" programme, established in 1991, combines banking sciences, leadership, and FinTech training with international site visits.

    Institutional developmentWorkforce & recruitmentCapacity building
  • 2025-10-29ChinaChina Securities Regulatory Commission

    China Securities Regulatory Commission disciplinary inspection team opens probe into Henan bureau deputy director Chu Tianhui

    The Central Commission for Discipline Inspection and National Supervisory Commission has initiated a disciplinary review and supervisory investigation into Chu Tianhui, a party committee member and deputy director of the China Securities Regulatory Commission's Henan Regulatory Bureau, for suspected serious violations of discipline and law. The Luohe City Supervisory Commission in Henan Province is also involved in the investigation.

    EnforcementInvestigations & enforcement actions
  • 2025-10-29ChinaChina Banking and Insurance Regulatory Commission

    China Banking and Insurance Regulatory Commission convenes 2025 International Advisory Committee meeting highlighting further financial opening-up and 15th Five-Year supervisory direction

    The China Banking and Insurance Regulatory Commission's International Advisory Committee 2025 meeting in Beijing focused on financial-sector reform, risk management, and supervision. Vice Premier He Lifeng discussed the China–US economic and trade situation, encouraging foreign investment and cooperation. CBIRC Director Li Yunze highlighted achievements from the 14th Five-Year period and outlined future directions, including digital development, cross-border regulatory coordination, and financial support for consumption.

    Policy & regulationReform agendas & prioritiesCross-border cooperation
  • 2025-10-29ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration sets rules for using the 2025 experience life table in life insurance pricing, reserving and dividends

    China's National Financial Regulatory Administration issued guidelines for using the China Life Insurance Industry Experience Life Table (2025), focusing on life insurance pricing, liability reserve valuation, and dividend distribution. Insurers must apply the tables prudently to ensure fairness and protect policyholders' rights, reinforcing their actuarial responsibility. The Actuary Association will continue life table research and enhance actuaries' professional ethics.

    Policy & regulationRules & requirements
  • 2025-10-29ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration sets requirements for insurers’ use of the 2025 life insurance industry experience life table

    China's National Financial Regulatory Administration issued a notice on using the China Life Insurance Industry Experience Life Table (2025), guiding life insurers on product pricing, reserve assessment, and dividend distribution. It emphasizes prudent mortality rate determination, fairness in dividend calculations, and strengthened actuarial governance. The regulator will oversee implementation, data governance, and actuarial accountability.

    Policy & regulationRules & requirementsOther
  • 2025-10-29ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration repeals 44 regulatory documents and declares 10 invalid

    China's National Financial Regulatory Administration has withdrawn 44 normative regulatory documents and declared 10 invalid to enhance the timeliness of the supervisory framework. This move aims to align financial regulatory policy with evolving industry needs. The regulator will continue efforts to ensure consistency and ongoing clean-up of normative documents.

    Policy & regulationRules & requirementsRegulatory burden
  • 2025-10-29ChinaChina Banking and Insurance Regulatory Commission

    China's National Financial Regulatory Administration chief Li Yunze meets Standard Chartered chair Maria Ramos

    China's National Financial Regulatory Administration Party Committee Secretary and Director Li Yunze met with Standard Chartered Group Chairman Maria Ramos to discuss the macroeconomic and financial situation, digital development in the financial sector, and Standard Chartered's operations in China.

    Policy & regulationCooperationOther
  • 2025-10-29ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission attends IOSCO Board annual meeting in Madrid as Inter-American Regional Committee representative

    The Argentina Securities Commission (CNV) President, Roberto E. Silva, participated in the IOSCO Board annual meeting in Madrid, representing the Inter-American Regional Committee. The meeting covered IOSCO's strategy, 2026 work programme, and interactions with the Financial Stability Board, and approved reports from key committees. Silva highlighted CNV's efforts to align Argentina's regulatory framework with international standards.

    Policy & regulationCooperationCross-border cooperation
  • 2025-10-29VietnamState Bank of Vietnam

    State Bank of Vietnam engages SWIFT at Sibos 2025 and proposes hosting a future Sibos conference in Vietnam

    The State Bank of Vietnam participated in Sibos 2025 in Frankfurt, where Deputy Governor Nguyen Ngoc Canh and Deputy Prime Minister Nguyen Hoa Binh engaged with SWIFT and international banks to promote financial integration and explore hosting Sibos in Vietnam. Vietnamese banks showcased digital strategies, while SWIFT and Standard Chartered supported Vietnam's financial connectivity and fintech initiatives. J.P. Morgan, with a long-standing presence in Vietnam, showed interest in expanding cooperation on payments and financial services.

    Policy & regulationCooperationCross-border cooperation
  • 2025-10-29VietnamState Bank of Vietnam

    State Bank of Vietnam signals 2026–2030 financial inclusion strategy focused on digital finance and open data

    The State Bank of Vietnam outlined priorities for Vietnam's financial inclusion agenda at a forum, focusing on digital financial inclusion for the 2026–2030 strategy. Deputy Governor Pham Thanh Ha highlighted progress in policy frameworks and digital financial products, noting challenges in digital infrastructure and cybersecurity. The strategy will emphasize technology, data, and innovation to foster an open and inclusive digital finance ecosystem.

    Policy & regulationReform agendas & prioritiesFintech and insurtechFinancial inclusion
  • 2025-10-29VietnamState Bank of Vietnam

    State Bank of Vietnam attends SEACEN Bali meetings as governors approve revised 2026 work plan and draft 2026 budget

    Deputy Governor Nguyen Ngoc Canh of the State Bank of Vietnam attended the SEACEN Research and Training Centre’s 45th Board of Governors meeting and 61st High-Level Seminar in Bali, focusing on regional financial integration and capital market development. SEACEN governors approved the 2026 activity plan and budget, discussing digital and cross-border payments, and sustainable finance. Nguyen Ngoc Canh supported SEACEN’s draft Medium-Term Strategic Plan 2026–2030, emphasizing priorities like central bank digital currency and climate-related financial risk management.

    Policy & regulationCooperationCross-border cooperationMonetary policy decisions and developments
  • 2025-10-29ArgentinaCentral Bank of Argentina

    Central Bank of the Argentine Republic reiterates commitment to AML, counter-terrorist financing and proliferation-financing prevention

    The Central Bank of Argentina reaffirmed its commitment to combating money laundering, terrorist financing, and the financing of weapons of mass destruction. It emphasized the importance of public-private cooperation and highlighted ongoing efforts through working groups and training programs. The bank will continue to implement actions to enhance financial system safety and trust.

    Policy & regulationGuidance & interpretationAML and CFTDomestic cooperation
  • 2025-10-29ArgentinaCentral Bank of Argentina

    Central Bank of the Argentine Republic vice president presents roadmap from monetary stabilization to demand-led remonetisation and reserve accumulation

    Argentina's Central Bank VP, Vladimir Werning, detailed a phased transition in the monetary aggregates regime from stabilization in 2024 to demand-driven remonetisation by 2026. The plan includes adopting monetary targets to exit high inflation, adapting targets to reduce financial repression, and managing election-related risks. The strategy emphasizes flexibility in exchange and interest rates to support reserve accumulation and recovery in money demand.

    Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
  • 2025-10-29CaribbeanCaribbean Financial Action Task Force (CFATF)

    Caribbean Financial Action Task Force upgrades Virgin Islands British technical compliance ratings, all 40 FATF recommendations now compliant or largely compliant

    The Caribbean Financial Action Task Force has upgraded the Virgin Islands (British) on four FATF recommendations in its second enhanced follow-up report. Recommendation 8 moved to largely compliant, Recommendations 24 and 26 to largely compliant, and Recommendation 28 to compliant. The territory is now compliant or largely compliant with all 40 FATF recommendations, although the review covers technical compliance only.

    Policy & regulationPeer reviews and country evaluationsAML and CFT
  • 2025-10-29DenmarkNational Bank of Denmark

    National Bank of Denmark publishes new UCITS fund currency exposure and hedging statistics showing 17% of USD and 27% of EUR investments hedged

    The National Bank of Denmark released a statistical series on UCITS funds' currency exposure and hedging, revealing that foreign equity exposure is modestly hedged while foreign bond exposure is nearly fully hedged. The data shows 17% of USD and 27% of EUR investments are hedged, with variations across fund types. The series aligns with existing statistics for the insurance and pension sector, based on monthly, contract-level reporting.

    Data & statisticsBalance of payments and other external statistics
  • 2025-10-29United KingdomOpen Banking Limited

    United Kingdom's Open Banking Limited outlines shift to outcomes-based, industry-led open banking and the Future Entity model

    Open Banking Limited CEO Henk Van Hulle's keynote at the Open Banking Expo 2025 Regulator Day discussed the UK's shift to a co-creation open banking model, emphasizing industry-led delivery and regulatory outcome focus. He noted milestones like 15 million users and HMRC's tax payment adoption, while addressing challenges such as commercial sustainability and API performance transparency. Van Hulle projected a two-year evolution into a Future Entity, expanding into open finance with a focus on standard setting and cross-sector Smart Data reuse.

    Policy & regulationReform agendas & prioritiesOpen banking and finance
  • 2025-10-29United KingdomOpen Banking Limited

    Open Banking Limited outlines Future Entity vision and reports 15 million user connections in Open Banking Expo keynote

    Open Banking Limited's Trustee, Marion King, highlighted UK open banking's shift from a competition remedy to an innovation enabler at the Open Banking Expo 2025. The keynote emphasized coordinated, standards-led collaboration and outlined expectations for transitioning to a "Future Entity" and a Long-Term Regulatory Framework. It noted significant growth in user connections, payments, public-sector usage, and stressed interoperability and common standards to prevent fragmentation.

    Policy & regulationReform agendas & priorities
  • 2025-10-29AustraliaDepartment of Treasury (Australia)

    Australia's Department of the Treasury publishes draft regulations to operationalise special designated payment systems and nominate additional special regulators

    Australia's Treasury released a draft of the Payment Systems Legislation Amendment Regulations 2025 to support the Payments System Modernisation Bill 2025. It designates key regulators under the Payment Systems Act 1998 and clarifies that certain systems like MasterCard and Visa aren't financial products under the ASIC and Corporations Acts.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-10-29MoldovaNational Bank of Moldova

    National Bank of Moldova highlights SEPA euro payments rollout and plans to expand MIA instant payments

    The National Bank of Moldova's Governor, Anca Dragu, highlighted Moldova's progress in aligning euro payments with SEPA and expanding its domestic instant payments system, MIA, at an international conference. As of 6 October 2025, eight of Moldova's ten licensed banks can process euro payments under European rules, with SEPA transactions rising by 186% and traditional SWIFT payments declining. Future priorities include enhancing MIA functionalities, extending instant payments to various sectors, and strengthening the open banking framework.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-10-29MoldovaNational Bank of Moldova

    National Bank of Moldova fines Paynet Services MDL 1.7 million and orders remediation over AML and virtual asset transaction control breaches

    The National Bank of Moldova issued an enforcement update detailing sanctions against non-bank payment service providers, including a MDL 1.7 million fine and a cease-and-desist order against Paynet Services SRL for inadequate customer due diligence and transaction monitoring. The update also notes the withdrawal of Fintecly SRL's licence for non-compliance with regulatory prescriptions and licensing conditions.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-10-29United Arab EmiratesDubai International Financial Centre

    Dubai International Financial Centre and Jebel Ali Free Zone Authority sign agreement to establish a dual-zone operating framework for companies

    Dubai International Financial Centre (DIFC) and DP World’s Jebel Ali Free Zone Authority (Jafza) have agreed to establish a framework for dual-zone operations, linking Jafza’s trade and industrial ecosystem with DIFC’s legal and financial platform. This supports the Dubai Economic Agenda (D33) by enabling businesses to structure capital and access financial services through DIFC, while utilizing Jafza for manufacturing and logistics. Coordinated investor engagement initiatives will promote the dual-zone model.

    Policy & regulationCooperationMarket development
  • 2025-10-29BarbadosCentral Bank of Barbados

    Central Bank of Barbados reports 2.7 percent real GDP growth and easing inflation in January–September 2025 economic review

    The Central Bank of Barbados reported steady economic growth for January–September 2025, driven by tourism, agriculture, construction, and services, despite global trade tensions. Real GDP rose by 2.7 percent, with unemployment at a record low of 6.1 percent. Inflation eased, international reserves reached 3.3 billion BBD, and fiscal surpluses contributed to a decline in the debt-to-GDP ratio to 100.1 percent.

    Research
  • 2025-10-29CaribbeanEastern Caribbean Central Bank

    Eastern Caribbean Central Bank to host 27th Sir Arthur Lewis Memorial Lecture featuring citizenship-by-investment expert Kristin Surak

    The Eastern Caribbean Central Bank (ECCB) will host the 27th Sir Arthur Lewis Memorial Lecture on 5 November in Saint Christopher (St Kitts) and Nevis, featuring Dr. Kristin Surak discussing citizenship programmes and their impact on economic resilience in small island states. The ECCB highlighted the relevance of this topic for the Eastern Caribbean Currency Union and its efforts to establish a regulatory authority for Citizenship by Investment programmes. The event will be livestreamed and simulcast across platforms, inviting public interaction.

    Other
  • 2025-10-28ItalyBank of Italy

    Bank of Italy outlines supervisory expectations for MiCAR crypto-asset service provider authorisations at Rome workshop

    The Bank of Italy hosted a workshop on implementing the Markets in Crypto-Assets Regulation (MiCAR), focusing on authorising crypto-asset service providers. Discussions highlighted the framework's complexity and compliance burden, especially for smaller entities, and addressed tax treatment and overlapping requirements with the Second Payment Services Directive. Authorities committed to ongoing engagement with market participants, emphasizing a rigorous approach based on sound risk management and the principle of "same risks, same rules."

    Policy & regulationImplementation, projects & pilotsLicensing framework and process
  • 2025-10-28BulgariaBulgaria Financial Supervision Commission

    Bulgaria Financial Supervision Commission registers Bravo Home EREIT for trading, deregisters SLS Holding bond issue and complies with ESMA MiCA circumvention guidelines

    The Bulgaria Financial Supervision Commission registered Bravo Home EREIT as a public company and removed SLS Holding AD's bond issue from the register. It also terminated proceedings for a board member approval at Global Funds Exchange AD, declared compliance with ESMA guidelines on crypto-asset services, and confirmed the completeness of Karoll Capital Management EAD’s application for a cross-border fund merger restructuring.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-10-28EuropeCommittee on Economic and Monetary Affairs

    European Parliament's Committee on Economic and Monetary Affairs to hold structured dialogue with Commissioner Maria Luís Albuquerque on 5 November 2025

    The European Parliament's Committee on Economic and Monetary Affairs will host Commissioner Maria Luís Albuquerque for a structured dialogue on 5 November 2025. Discussions will address her financial services and Savings and Investments Union portfolio, including trilogue negotiations on payments and retail investments, as well as forthcoming proposals and the European Commission’s focus on simplification, implementation, and enforcement.

    Policy & regulationCooperationOther
  • 2025-10-28New ZealandReserve Bank of New Zealand

    Reserve Bank of New Zealand releases documents on its completed 2025 organisational restructure and final leadership structure

    The Reserve Bank of New Zealand has released documentation from its organizational restructure, detailing structure, headcount, and financial information, including an overview of Project Denby and decision documents for various leadership and operational groups. This publication aligns with the bank's regular reporting through its Annual Report and Annual Review hearing with the Finance & Expenditure Committee.

    Institutional developmentMandate & organizational structureOrganizational structure
  • 2025-10-28AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission highlights investment instruments at National Bank of Angola’s Savings Week 2025

    The Angola Capital Markets Commission participated in the opening of Savings Week 2025, highlighting financial instruments as alternative investments and its commitment to financial education. Executive Administrator Edna Mascarenhas and Mário Kadi represented the commission at the event, which included a roundtable with key financial and entrepreneurial institutions.

    Financial literacy & educationFinancial literacy and education
  • 2025-10-28Dominican RepublicPensions Superintendency (SIPEN)

    Dominican Republic's Pensions Superintendency conducts technical visit to Mexico's National Commission for the Retirement Savings System on risk-based supervision

    The Dominican Republic's Pensions Superintendency (SIPEN) visited Mexico's National Commission for the Retirement Savings System (CONSAR) to explore Mexico's risk-based supervision methodology for potential application in the Dominican Pension System. The visit included discussions on risk identification, investment regimes, and supervisory processes.

    SupervisionCooperationSupervision process and methodologies
  • 2025-10-28Dominican RepublicCentral Bank of the Dominican Republic

    Central Bank of the Dominican Republic reviews 2025 economy and confirms policy rate cut to 5.50% and DOP81 billion liquidity programme

    The Central Bank of the Dominican Republic, in Governor Héctor Valdez Albizu’s 78th anniversary address, announced a 25 basis point cut in the monetary policy rate to 5.50% and detailed a DOP81 billion liquidity programme to support bank credit. The address highlighted macro-financial conditions, including a 2.2% GDP growth from January to September 2025, and regulatory updates such as fair-value valuation rules and foreign-exchange amendments. The outlook anticipates GDP growth of 2.5% in 2025, with inflation within target and foreign direct investment projected to exceed USD4.8 billion.

    Monetary policyPolicy rate decisionsMonetary policy decisions and developments
  • 2025-10-28BoliviaCentral Bank of Bolivia

    Central Bank of Bolivia to end sales of the gold-indexed BCB Bicentennial Bond on 31 October after BOB 520.8 million in placements

    The Central Bank of Bolivia will conclude sales of the Bono BCB Bicentenario on 31 October, after achieving BOB 520,835,400 in placements over four months. The 364-day bond, indexed to the international gold price, offers a fixed annual rate of 9.75% plus a variable gold-linked component. Each bond is priced at BOB 200, with a purchase limit of 5,000 bonds per individual.

    Monetary policyMonetary policy instruments & operationsOther
  • 2025-10-28KosovoCentral Bank of the Republic of Kosovo

    Central Bank of the Republic of Kosovo governor links full SEPA application to publication of laws and entry into force of 20 by-laws

    The Central Bank of the Republic of Kosovo shared Governor Ahmet Ismaili's remarks from the 16th International Conference on Payments and Market Infrastructures, highlighting efforts to integrate the Western Balkans into SEPA. Kosovo is modernizing its payments system, aligning with European standards, and preparing for SEPA membership, with banks already using IBAN and ISO 20022 standards. The strategy includes legal harmonization, infrastructure modernization, and the TIPS Clone project for instant payments, while addressing challenges in PSD2/PSD3 compliance and AML/CFT supervision.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-10-28United Arab EmiratesUAE Securities & Commodities Authority

    UAE Securities and Commodities Authority and Dubai Financial Services Authority sign MoU to coordinate oversight of auditors in UAE markets and the DIFC

    The UAE Securities and Commodities Authority and the Dubai Financial Services Authority have signed a memorandum of understanding to enhance regulatory cooperation on auditor oversight for companies listed on their financial markets, covering registration, inspection, and supervision of auditors. The agreement aims to coordinate audit oversight, exchange experience, and improve audit processes for securities firms in the UAE and Dubai International Financial Centre.

    Policy & regulationCooperationAuditingDomestic cooperation
  • 2025-10-28ItalyItalian Securities Commission (Consob)

    Italian Securities Commission issues warning on pump and dump scams promoted via social media and WhatsApp

    The Italian Securities Commission (Consob) warned about "pump and dump" schemes using social media to manipulate market prices, following complaints from defrauded investors. Fraudsters, posing as analysts or Consob representatives, promote low-priced stocks with promises of high returns, inflating prices before selling off, causing losses. Consob also highlighted similar risks in crypto-asset trading and warned of potential regulatory and criminal consequences for spreading false information.

    SupervisionAlertsFraud and scams
  • 2025-10-28AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission signals debt collection surveillance and firm-level dispute resolution data publication in customer-first push

    In a keynote address, the Australian Securities & Investments Commission (ASIC) outlined its consumer outcomes agenda, focusing on supervision, enforcement, and transparency in credit, banking, and complaints handling. ASIC highlighted enforcement actions against major banks, including a Federal Court penalty of AUD 15.5 million against National Australia Bank and a proposed AUD 40 million penalty for ANZ. Additionally, ASIC announced a shift to firm-level dispute resolution data publication to enhance transparency and identify systemic issues earlier.

    Policy & regulationReform agendas & prioritiesConsumer and investor protection
  • 2025-10-28AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on remaking OTC derivatives clearing rules ahead of 1 April 2026 sunset

    ASIC proposes to remake the Derivative Transaction Rules (Clearing) 2015 to extend Australia's OTC derivatives central clearing regime beyond 1 April 2026. The proposal includes minor updates, extended exemptive relief for post-trade risk reduction, and ending transitional relief for certain swaptions. The rules mandate central clearing for specific OTC interest rate derivatives for qualifying financial entities, with voluntary compliance options.

    Policy & regulationRules & requirementsCCPs
  • 2025-10-28UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market approves Letter of Intent implementation plan and registers new bond, share and fund instrument issues

    The Ukraine National Commission on Securities and Stock Market approved a draft law amending the Civil Code and endorsed an action plan with the Government and National Bank of Ukraine. It adopted decisions on securities issuance and governance for capital markets participants, including registrations for AFALINA Financial Company LLC and PJSC AGROSVITVOLYN. The Commission also approved appointments and significant participation intentions in various asset management companies.

    SupervisionAuthorisations & approvalsSecurities offerings and listings
  • 2025-10-28NetherlandsDe Nederlandsche Bank

    De Nederlandsche Bank and the Netherlands Authority for the Financial Markets publish report warning on growing financial sector dependence on a small set of IT providers

    De Nederlandsche Bank and the Netherlands Authority for the Financial Markets report on banks', insurers', and pension funds' reliance on external digital infrastructure, highlighting risks from cloud services and AI tools. It recommends strengthened exit strategies, continuity planning, and technical solutions, aligning with the EU Digital Operational Resilience Act and advocating for cross-border supervisory cooperation and a potential European cloud regulator.

    SupervisionRisk monitoring & watch pointsIT managementOutsourcing and third-party risk management
  • 2025-10-28NetherlandsDe Nederlandsche Bank

    De Nederlandsche Bank reports Dutch pension funds’ average funding ratio rises to 126.3% in Q3 2025

    De Nederlandsche Bank reported an improvement in Dutch pension funds' funding ratios for Q3 2025, driven by decreased liabilities and increased investment values. Aggregate investments rose by EUR 22 billion to EUR 1,625 billion, while liabilities fell by EUR 23 billion to EUR 1,287 billion, resulting in an average funding ratio increase to 126.3%. The policy funding ratio also rose to 119.8%, reflecting a positive trend over the past year.

    Data & statisticsFinancial stability and systemic risk
  • 2025-10-28UruguayCentral Bank of Uruguay

    Central Bank of Uruguay vice president underscores macroeconomic stability as prerequisite for gender-focused financial inclusion

    The Central Bank of Uruguay's Vice President, Ana Claudia de los Heros, emphasized the link between gender-focused financial inclusion and macroeconomic stability at the III National and International Central Banking Congress. She highlighted Uruguay's progress in financial inclusion and education, citing the 2014 Law 19.210 and the Central Bank's Payments System Roadmap. De los Heros stressed the importance of access to financial services for women, small business owners, and rural workers, supported by gender-disaggregated data.

    Policy & regulationReform agendas & prioritiesDiversity and inclusionFinancial inclusion
  • 2025-10-28IndonesiaBank Indonesia

    Bank of Indonesia reports SEACEN Governors agreement to deepen regional collaboration and outlines five policy priorities

    Bank of Indonesia reported on the 61st SEACEN Governors Conference in Bali, highlighting agreements to enhance regional economic resilience through cooperation amid global challenges. Governor Perry Warjiyo outlined five strategic steps, including policy integration, systemic oversight, and digital payments connectivity. The conference marks the start of Bank of Indonesia's transition to SEACEN leadership, with a formal handover from the Bank of Korea set for 2026.

    Monetary policyMonetary policy framework & strategyDomestic cooperation
  • 2025-10-28PakistanSecurites & Exchange Commission of Pakistan

    Securities and Exchange Commission of Pakistan and Bangladesh delegation agree regular contact to deepen financial regulatory cooperation

    The Securities and Exchange Commission of Pakistan (SECP) hosted a Bangladesh High Commission delegation to enhance regulatory cooperation and establish regular contact between the countries' financial regulators. Led by Dr. Anisuzzaman Chowdhury and SECP Chairperson Akif Saeed, the meeting focused on strengthening bilateral relations and sharing knowledge. Both parties agreed to sustain momentum on mutual initiatives, with Bangladesh welcoming SECP's recent regulatory reforms.

    Policy & regulationCooperationCross-border cooperation
  • 2025-10-28ChinaCentral Bank of the Republic of China

    People's Bank of China witnesses renminbi clearing agreement with Abu Dhabi First Bank for UAE’s second renminbi clearing bank role

    The People's Bank of China (PBOC) and Abu Dhabi First Bank (FAB) have signed a renminbi business clearing agreement, with FAB set to become the UAE's second renminbi clearing bank, pending PBOC authorization. This move aims to enhance renminbi clearing services to support China-UAE trade and investment.

    Policy & regulationCooperationCross-border cooperation
  • 2025-10-28United KingdomFinancial Conduct Authority

    United Kingdom's Financial Conduct Authority launches consultation on new Short Selling Sourcebook and anonymised aggregate short position disclosures

    The Financial Conduct Authority (FCA) has issued consultation paper CP25/29 to integrate the Short Selling Regulations 2025 into the FCA Handbook, introducing a new Short Selling Sourcebook. Key proposals include anonymised, aggregate net short position disclosures, extended reporting deadlines, and revised guidance on share capital sources and group reporting. The FCA plans to streamline market maker exemption processes and implement changes in two phases, with systems for aggregate disclosures and the reportable shares list launching on the main commencement day.

    Policy & regulationRules & requirements
  • 2025-10-28FinlandBank of Finland

    Bank of Finland-supported Payments Council transfers development of Finnish instant payment solution to Siirto Brand Oy

    The Bank of Finland announced that Finland’s Payments Council appointed Siirto Brand Oy as the commercial service provider for a Finnish account-based instant payment solution. The Payments Council has promoted this domestic instant payment instrument since 2022 to align with Eurosystem and European Commission objectives. The Council will continue overseeing the implementation of the Finnish Instant Payments Scheme Rulebook, developed in 2024.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-10-28Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission suspends Tang Wai Choi for seven months for unauthorised client account trading and recordkeeping failures

    The Hong Kong Securities and Futures Commission (SFC) suspended Mr Tang Wai Choi's licence for seven months due to unauthorised trading and recordkeeping failures linked to a suspected ramp-and-dump scheme. Tang placed 945 internet orders without valid authorisation, compromising the firm's ability to trace order origins and maintain an audit trail. The SFC considered the misconduct's duration, frequency, and Tang's clean disciplinary record in determining the sanction.

    EnforcementInvestigations & enforcement actions
  • 2025-10-28CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario identifies control and documentation weaknesses in auto insurers and extends its supervision plan to March 2026

    The Financial Services Regulatory Authority of Ontario released its 2025 Auto Supervision Interim Report, highlighting the need for stronger controls and improved oversight among auto insurers for fair consumer outcomes. While insurers generally met expectations, the report noted gaps in underwriting verification, broker disclosures, and data collection on cancellations. FSRA has extended its Auto Insurance Supervision Plan until March 2026 to further examine industry practices.

    SupervisionReviews, inspections & stress testsConsumer and investor protectionSupervision process and methodologies
  • 2025-10-28SloveniaSlovenia Insurance Supervision Agency

    Slovenia Insurance Supervision Agency outlines discussions at CORA Strategic Summit on RegTech and AI-enabled supervisory analytics

    The Slovenia Insurance Supervision Agency reported on the inaugural CORA Strategic Summit in Zagreb, focusing on regulatory technology's role in enhancing oversight through AI-driven analytics and automation. Discussions addressed the gap between technological advancements and regulatory systems, with Compliant Risk Technology showcasing an AI platform for predictive supervisory analytics. Plans are underway to repeat the summit to foster cooperation and standardize technology solutions.

    Policy & regulationCooperationRegtech and suptechSupervision process and methodologies
  • 2025-10-28SloveniaSlovenia Insurance Supervision Agency

    Slovenia Insurance Supervision Agency outlines how it will apply revised Solvency II proportionality for small and non-complex insurers

    The Slovenia Insurance Supervision Agency recapped a sustainable finance forum in Ljubljana, emphasizing ESG's growing role in investment and risk assessment. The agency noted the expected introduction of a proportionality principle in the Solvency II Directive for small or non-complex insurers. Discussions highlighted ESG's impact on finance access and resilience, cautioning against rigid implementations that could hinder transition financing and lead to greenwashing.

    Policy & regulationGuidance & interpretationESG
  • 2025-10-28AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority highlights CPS 234 cyber resilience gaps and intensifies focus on third-party concentration and AI governance

    The Australian Prudential Regulation Authority (APRA) emphasized its focus on technology-driven risks in banks, insurers, and superannuation trustees, highlighting cyber risk as a top concern. APRA noted shortcomings in implementing Prudential Standard CPS 234, including asset identification, authentication controls, and incident response plans. It stressed timely incident notifications and linked third-party risks to CPS 230 expectations. APRA is analyzing service-provider reliance data and increased monitoring of AI practices, asserting current standards adequately address AI-related risks.

    SupervisionSupervision approach, priorities & toolkitCyber resilienceOperational risk and resilience
  • 2025-10-28AustriaAustrian National Bank (OeNB)

    Austrian National Bank Bank Lending Survey shows corporate loan demand rises in Q3 2025 for the first time since 2022 and housing demand continues to recover

    The Austrian National Bank (OeNB) reported increased corporate and housing loan demand in Q3 2025, with expectations for continued growth in Q4 2025. Corporate loan demand was supported by lower interest rates and active SME activity, while housing loan demand was driven by European Central Bank rate cuts. Despite a slight easing in lending policies, credit supply conditions remain influenced by economic risks and corporate creditworthiness.

    Data & statisticsFinancial and market indicatorsMonetary data
  • 2025-10-28PeruSuperintendencia de Banca, Seguros y AFP del Peru

    Peru's Superintendency of Banking, Insurance and Private Pension Funds Administrators presents climate stress testing and catastrophe loss studies at sustainability disclosure event

    Peru's Superintendency of Banking, Insurance and Private Pension Funds Administrators (SBS) hosted an event on sustainability disclosure practices and climate-related risk management in the financial sector. The SBS presented studies on climate stress testing and catastrophic loss estimation, highlighting medium progress in sustainability disclosures. The session also addressed ESG criteria in decision-making and reiterated the SBS's roadmap for enhancing system sustainability.

    SupervisionRisk monitoring & watch pointsClimate risk and sustainable finance
  • 2025-10-28AustriaAustria Financial Market Authority

    Austria Financial Market Authority warns investors about the high risk of qualified subordinated loans

    The Austria Financial Market Authority warned about high risks of qualified subordinated loans, often used in real estate or commercial projects, which can lead to total loss. These loans are serviced after all other creditors in insolvency, lack deposit guarantees, and may have repayment postponed if the borrower faces financial difficulties. The FMA advises investing only with transparent providers, ensuring the subordination clause is clear and legally effective, and only investing money one can afford to lose.

    SupervisionAlertsLending
  • 2025-10-28FranceBank of France

    Bank of France’s Groupe de Place Robustesse completes HYDROS 25 exercise testing financial sector continuity in a major Seine flood scenario

    The Bank of France reported on Groupe de Place Robustesse's participation in HYDROS 25, a crisis exercise simulating a major Seine flood to test business continuity for government services and strategic sectors. The exercise involved real-time crisis simulation and workshops on cash distribution, non-cash payment instruments, and coordination with critical sectors like energy and transport. Financial institutions tested activity prioritization, key function identification, and planning for prolonged recovery phases.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-10-28Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority completes e-HKD Phase 2 pilots and prioritises wholesale payments over retail use cases

    The Hong Kong Monetary Authority (HKMA) released the e-HKD Pilot Programme Phase 2 Report, highlighting findings from industry pilots and its policy stance on a potential central bank digital currency (CBDC) for Hong Kong. The HKMA will prioritize wholesale payments to support tokenisation and cross-border payments, while developing the policy, legal, and technical foundations for potential future use of e-HKD by individuals and corporates. The report notes high public trust in e-HKD and tokenised deposits, emphasizing e-HKD's suitability for large-value transactions.

    Policy & regulationImplementation, projects & pilotsCBDC
  • 2025-10-28Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent bank websites and phishing emails affecting six banks

    The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails involving banks like The Bank of East Asia and DBS Bank (Hong Kong). The alert stresses that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact their bank and report incidents to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-10-28Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority appoints Albert Goh as Deputy Chief Executive Officer of the Exchange Fund Investment Office

    The Hong Kong Monetary Authority has appointed Albert Goh as Deputy Chief Executive Officer of the Exchange Fund Investment Office, effective 1 November 2025. Goh will oversee the investment management of the Exchange Fund and report to the CEO of the Exchange Fund Investment Office.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-10-28Latin AmericaFinancial Action Task Force of Latin America (GAFILAT)

    Financial Action Task Force of Latin America publishes Guatemala workshop findings on simplified due diligence and risk-based AML/CFT supervision

    GAFILAT published conclusions from a Guatemala City workshop on simplified customer due diligence for financial and non-financial institutions. The document emphasizes aligning due diligence with risk levels, using proportional supervision, and incorporating good practices from regional supervisors and the private sector. It supports implementing a risk-based approach in anti-money laundering and counter-terrorist financing, following updates to Recommendation 1.

    Policy & regulationGuidance & interpretationAML and CFTSupervision process and methodologies
  • 2025-10-28IndonesiaMinistry of Finance (Indonesia)

    Indonesia's Ministry of Finance sets financial deepening inclusion and stability as priorities for strengthening the financial sector

    Indonesia's Ministry of Finance outlined three financial sector policy priorities: financial deepening, financial inclusion, and financial stability. Financial deepening aims to broaden financial activity access, while financial inclusion seeks to extend services to underserved groups. Financial stability focuses on maintaining resilience against external and domestic shocks.

    Policy & regulationReform agendas & prioritiesFinancial inclusionFinancial stability and systemic risk
  • 2025-10-28Isle of ManIsle of Man Financial Services Authority

    Isle of Man Financial Services Authority publishes thematic findings on Financial Resources Reporting processes at low impact firms

    The Isle of Man Financial Services Authority released a report on a thematic review of Financial Resources Reporting among low impact firms, based on a questionnaire and desk-based inspections. The review assessed governance and control of FRR production across various licence classes, highlighting good practices and areas for improvement. The findings aim to guide future outreach and engagement on FRR, urging firms to evaluate their own processes and documentation.

    SupervisionReviews, inspections & stress testsSupervisory data
  • 2025-10-28KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issues consumer guidance on KASKO insurance in auto lending and premium refunds

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on KASKO, a voluntary motor insurance covering vehicle damage or loss. The guidance clarifies that banks may require KASKO for vehicles pledged as collateral but cannot dictate the insurer choice. It also outlines conditions for early termination of KASKO contracts, including premium retention and refund policies.

    Policy & regulationGuidance & interpretationOther
  • 2025-10-28GhanaBank of Ghana

    Bank of Ghana launches Cedi@60 anniversary programme and flags imminent Virtual Asset Service Provider rules

    The Bank of Ghana launched the Cedi@60 anniversary, a 12-month programme to engage the public with the currency's history through education and outreach. The Governor highlighted key milestones in the Cedi's evolution and recent macroeconomic outcomes, including a 37.4% appreciation year-to-date and headline inflation at 9.4% as of September 2025. The Governor also noted the eCedi digital currency pilot and upcoming regulatory framework for Virtual Asset Service Providers.

    Financial literacy & educationMonetary policy decisions and developments
  • 2025-10-28IndiaReserve Bank of India

    Reserve Bank of India issues updated directions on nomination facilities for deposits, lockers and safe custody items effective 1 November 2025

    The Reserve Bank of India issued new directions for banks on implementing nomination facilities for deposit accounts, safe deposit lockers, and articles in safe custody, aligning with the Banking Laws (Amendment) Act, 2025, and the Banking Companies (Nomination) Rules, 2025. Banks must inform customers about nomination options at account opening and maintain systems for managing nominations. The directions, effective 1 November 2025, repeal previous RBI circulars on nomination facilities while preserving compliant actions under those instructions.

    Policy & regulationRules & requirementsClient asset custody and safekeeping
  • 2025-10-28Middle EastMiddle East and North Africa Financial Action Task Force (MENAFATF)

    Middle East and North Africa Financial Action Task Force launches Manama seminar to strengthen public–private implementation of targeted financial sanctions

    The Middle East and North Africa Financial Action Task Force (MENAFATF) held a seminar in Manama, Bahrain, to enhance Targeted Financial Sanctions (TFS) against terrorism and proliferation financing, emphasizing institutional cooperation and information exchange. Supported by the German Agency for International Cooperation, the event discussed Public–Private Partnerships, roles in TFS implementation, compliance challenges, digital tools, beneficial ownership registers, and recent Financial Action Task Force guidance.

    Policy & regulationCooperationAML and CFTCross-border cooperation
  • 2025-10-28ThailandThailand Office of Insurance Commission

    Thailand Office of Insurance Commission publishes H1 2025 licence statistics and promotes e-Licensing and ForSure checks for insurance intermediaries

    Thailand’s Office of Insurance Commission reported a 0.73% year-on-year increase in new licence applications and renewals for insurance agents and brokers in the first half of 2025, totaling 129,606. The OIC urged the use of its e-Licensing system and the ForSure app to enhance data accuracy and public licence verification. Consumers are advised to verify seller licences through OIC’s online channels and treat unverified individuals as unlicensed.

    Data & statisticsLicence approval
  • 2025-10-28UzbekistanCentral Bank of the Republic of Uzbekistan

    Central Bank of the Republic of Uzbekistan and KPMG convene second RegTech Forum to promote unified data management standards

    The Central Bank of the Republic of Uzbekistan, in collaboration with KPMG, hosted its second RegTech Forum to promote unified data management in the financial sector. The forum emphasized enhancing banking stability, regulatory transparency, and trust, while reducing reporting burdens and improving information exchange. Key participants included Xalq Bank, Asakabank, Turonbank, and Ipoteka Bank.

    Policy & regulationImplementation, projects & pilotsRegtech and suptech
  • 2025-10-28Middle EastMiddle East and North Africa Financial Action Task Force (MENAFATF)

    Middle East and North Africa Financial Action Task Force opens Bahrain seminar on public–private partnerships to implement targeted financial sanctions

    MENAFATF is hosting a seminar in Manama from 28–30 October 2025, with the German Agency for International Cooperation, to enhance public-private cooperation on implementing financial sanctions related to terrorism and proliferation financing. The event focuses on dialogue, information-sharing, digital tools, beneficial ownership registers, and discussing FATF guidance and regional experiences.

    Policy & regulationCooperationAML and CFTCross-border cooperation
  • 2025-10-28MexicoCONDUSEF

    Mexico's National Commission for the Protection and Defence of Users of Financial Services reports record 122,711 attendees at National Financial Education Week 2025

    Mexico's National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported a record attendance of 122,711 at the National Financial Education Week 2025, held from 23–26 October. The event featured over 90 hours of educational activities, including talks and workshops, with participation from 76 institutions. Virtual and regional activities related to the event will continue until 31 December 2025.

    Financial literacy & educationFinancial literacy and education
  • 2025-10-28IsraelBank of Israel

    Bank of Israel appoints search committee and opens recruitment for Director of the Information Technology Department

    The Bank of Israel is seeking candidates for Director of its Information Technology Department, with applications due by November 13, 2025. The role involves leading digital strategy, managing technology policy, and overseeing cybersecurity, with a five-year personal contract offered.

    Institutional developmentLeadership change & appointmentsHiring and recruitment
  • 2025-10-28Bosnia and HerzegovinaCentral Bank of Bosnia and Herzegovina

    Central Bank of Bosnia and Herzegovina deepens cooperation with Croatian National Bank and signs contract for 2 and 5 KM coin production

    The Central Bank of Bosnia and Herzegovina (CBBH) visited the Croatian National Bank (CNB) to discuss Bosnia and Herzegovina’s European integration, institutional capacity strengthening, and SEPA preparations. The CBBH signed a contract with the Croatian Mint for the production of convertible mark coins. Discussions included cooperation on payment systems supervision, digitalisation, and central banks' roles in financial sector resilience.

    Policy & regulationCooperationCross-border cooperation
  • 2025-10-28TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan holds third Policy Coordination Instrument review meeting with the IMF

    The National Bank of the Republic of Tajikistan engaged with an International Monetary Fund delegation for the third review of the Policy Coordination Instrument programme, discussing macro-financial outlook and cooperation. Priorities include maintaining price stability, enhancing economic policy, improving reserve management, and supporting financial sector stability. The bank also emphasized digitalisation, expanding digital financial services, and adopting RegTech and SupTech tools.

    Policy & regulationCooperationFinancial stability and systemic riskMacroprudential policy and tools
  • 2025-10-28TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan convenes interagency AML/CFT/CPF commission and approves national expert group for the 2026 EAG mutual evaluation

    The National Bank of the Republic of Tajikistan held a meeting with the Eurasian Group on Combating Money Laundering and Financing of Terrorism. The commission assessed Tajikistan's readiness for the 2026 mutual evaluation of its AML/CFT/CPF system and approved the national expert group. Discussions covered the current system status, preparation progress, and plans for training seminars with the EAG Secretariat.

    Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
  • 2025-10-28Brunei DarussalamMinistry of Finance (Brunei Darussalam)

    Brunei Darussalam's Ministry of Finance and Economy and CGIF convene seminar to support development of the corporate sukuk market

    Brunei's Ministry of Finance and Economy, with the Credit Guarantee and Investment Facility, hosted the Capital Market Development Seminar 2025 to explore the sukuk market's potential. The seminar highlighted opportunities to expand from sovereign to corporate and infrastructure sukuk, supported by regional mechanisms like CGIF credit guarantees. Participants urged collaboration among stakeholders to boost market confidence and Shariah-compliant financing.

    Policy & regulationCooperationMarket development
  • 2025-10-28South AfricaSouth African Reserve Bank

    South African Reserve Bank cancels Grindrod Bank’s Restricted Authorised Dealer status with immediate effect

    The South African Reserve Bank's Financial Surveillance Department has revoked Grindrod Bank Limited's status as a Restricted Authorised Dealer, effective immediately. Consequently, Grindrod Bank will be removed from relevant sections of the Currency and Exchanges Manuals. This action is in accordance with the Exchange Control Regulations and is confirmed by Government Notice 2712 of 2024.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-10-28New ZealandNew Zealand Financial Markets Authority

    New Zealand Financial Markets Authority grants interim no-action relief for climate reporting entities affected by pending regime changes

    The New Zealand Financial Markets Authority (FMA) has issued interim "no action" relief for Climate Reporting Entities (CREs) regarding mandatory climate reporting obligations, effective 1 November 2025, pending legislative amendments. The Financial Markets Conduct Amendment Bill proposes raising the reporting threshold for listed issuers and removing managed investment scheme managers from the regime, with the Finance and Expenditure Select Committee expected to report by 30 January 2026.

    EnforcementEnforcement frameworkClimate risk and sustainable finance
  • 2025-10-28PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines expands calamity relief measures with up to 12-month loan deferments and direct cash withdrawals until 2027

    The Central Bank of the Philippines issued Circular No. 1221, Series of 2025, enhancing regulatory relief for banks in calamity-affected areas. The circular expands loan repayment relief, eases requirements to maintain banking services, and introduces measures to support cash availability. It allows deferments for agriculture borrowers, grace periods for loan repayments, and temporary easing of identification requirements, among other operational flexibilities.

    Policy & regulationRules & requirementsOperational risk and resilience
  • 2025-10-28PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines Monetary Board affirms final cancellation of ABA Global Philippines trading as Coex Star remittance and virtual asset registration

    The Central Bank of the Philippines' Monetary Board has finalized the cancellation of ABA Global Philippines, Inc.'s registration to operate as a Remittance and Transfer Company and Virtual Asset Service Provider. This decision, under Resolution No. 928, aligns with Sections 902-N and 901-N of the Manual of Regulations for Non-Bank Financial Institutions.

    SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
  • 2025-10-28ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision orders blocking of six unauthorised insurance intermediation websites

    The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of insurance intermediation on six unauthorized websites and initiated measures to block access. This raises the total number of sites targeted by IVASS cessation orders to 305 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers, particularly for temporary motor third-party liability policies, by consulting its registers and lists.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-10-28EuropeEuropean Central Bank

    European Central Bank bank lending survey reports slight corporate credit tightening and higher rejection rates across loan categories

    The European Central Bank's October 2025 euro area bank lending survey showed a slight net tightening of credit standards for enterprise loans (4%) and consumer credit (5%) in Q3, with unchanged standards for housing loans. Higher perceived risks and geopolitical uncertainties contributed to corporate tightening, while mortgage demand surged (28%) due to improved housing market prospects and lower rates. For Q4, banks anticipate stable credit standards for firms, slight tightening for housing loans (2%) and consumer credit (4%), with housing loan demand expected to grow further (8%).

    Data & statisticsLending
  • 2025-10-28EuropeEuropean Central Bank

    European Central Bank publishes revised euro area sector accounts with net saving up to EUR 861 billion and household and corporate debt ratios down

    The European Central Bank and Eurostat released revised euro area sector accounts for Q2 2025, showing increased net saving at EUR 861 billion and net non-financial investment at EUR 545 billion. Household net lending rose to EUR 597 billion, while NFCs' net lending decreased to EUR 99 billion. The ECB plans to publish experimental Distributional Wealth Accounts results for Q2 2025 on 28 November 2025.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-10-28EuropeEuropean Central Bank

    European Central Bank bank lending survey shows unexpected net tightening in corporate credit standards and sustained strength in housing loan demand

    The European Central Bank's October 2025 euro area bank lending survey shows a slight net tightening of credit standards for enterprise loans, unchanged standards for housing loans, and moderate tightening for consumer credit in Q3 2025. Loan demand from firms rose slightly but remained weak, while housing loan demand increased strongly. Banks expect credit standards to remain stable for firms, tighten slightly for housing loans, and tighten further for consumer credit in Q4 2025.

    Data & statisticsLending
  • 2025-10-28SeychellesCentral Bank of Seychelles

    Central Bank of Seychelles holds two-day cybersecurity training for its Board to strengthen cyber resilience oversight

    The Central Bank of Seychelles conducted a two-day cybersecurity training for its Board members to enhance governance-level oversight and cyber resilience. The training, led by Proficio CEO Brad Taylor, covered global and local cyber threats, evolving attack methods, and AI's influence, including an interactive exercise. This initiative is part of a broader effort to strengthen the Board's capability in key oversight areas.

    Institutional developmentCooperation & capacity buildingCyber resilience
  • 2025-10-28SingaporeMonetary Authority of Singapore

    Monetary Authority of Singapore introduces SGD 15 million Financial Sector Carbon Market Development Grant alongside new voluntary carbon market guidance

    The Monetary Authority of Singapore and other national bodies have launched initiatives to develop high-integrity carbon markets, including guidance for corporates on carbon credits and forming a buyers’ coalition. A SGD 15 million grant from the Financial Sector Development Fund will support financial institutions in carbon market participation, focusing on capability-building and reducing entry costs. The guidance, developed with industry stakeholders, will be regularly updated and reviewed.

    Policy & regulationGuidance & interpretationCarbon markets
  • 2025-10-28South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission schedules 2025 Korea Fintech Week for 26 to 28 November focused on AI and personalized finance

    The South Korea Financial Services Commission announced that the 2025 Korea Fintech Week will occur from 26 to 28 November in Seoul, themed “Fintech X AI: The Personalization of Finance.” The event will feature 99 exhibition booths, 128 participating businesses, and 13 seminars on topics like global fintech trends and AI-enabled fintech models. Ten fintech businesses will join the K-Fintech 30 list, receiving support such as policy funds and regulatory-exemption consulting.

    OtherFintech and insurtechArtificial intelligence
  • 2025-10-28EstoniaCentral Bank of Estonia

    Central Bank of Estonia Supervisory Board nominates Deputy Governor Ülo Kaasik as candidate for next Governor

    The Supervisory Board of the Central Bank of Estonia has elected Deputy Governor Ülo Kaasik as its candidate for the next Governor, succeeding Madis Müller in June 2026. Kaasik, who has been Deputy Governor since 2011, was chosen after three voting rounds among four candidates. The appointment requires confirmation by the President of the Republic of Estonia.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-10-28GermanyGerman Bundesbank

    German Bundesbank Bank Lending Survey shows tighter credit standards across all loan segments in Q3 2025

    The German Bundesbank's October Bank Lending Survey shows that German banks tightened credit standards for firms and households in Q3 2025 due to higher perceived credit risk and reduced risk tolerance for consumer loans. Despite rising loan demand, banks reported more restrictive conditions, especially for corporate loans and mortgages, due to higher rates and margins. Looking ahead, banks expect unchanged corporate credit standards but further tightening for household credit, with anticipated demand increases for corporate loans and mortgages.

    Data & statisticsLendingPrudential risks
  • 2025-10-28BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission publishes Q3 2025 Economic Bulletin reporting 92,322 regulated participants and quadrupling of crowdfunding volumes

    The Brazil Securities Commission (CVM) released its Q3 2025 Economic Bulletin, reporting BRL 630.9bn in securities issuance and a 2.8% increase in CVM-regulated participants to 92,322. Highlights include growth in real estate and credit receivables funds, a surge in crowdfunding activity, and an 8.5% rise in the regulated market to BRL 46.32tn. The bulletin also notes a 20.4% increase in securities investment advisers and new authorisations for central securities depositories and market administrators.

    Data & statisticsActivity and performance reporting
  • 2025-10-28North MacedoniaSecurities and Exchange Commission of the Republic of North Macedonia

    Securities and Exchange Commission of the Republic of North Macedonia highlights SEPA integration and digital transformation at payments infrastructure conference

    The Securities and Exchange Commission of North Macedonia's President, Bujaré Abazi, attended the 16th Conference on Payments and Market Infrastructure in Ohrid, focusing on digital payment trends and challenges. Discussions highlighted North Macedonia's integration into the Single Euro Payments Area (SEPA) as crucial for financial system modernization and alignment with European standards. Abazi emphasized the importance of digital transformation and capital market integration with European financial institutions.

    Policy & regulationCooperationPayments and payment systemsMarket infrastructure
  • 2025-10-28GuernseyGuernsey Financial Services Commission

    Guernsey Financial Services Commission updates financial crime handbook to remove South Africa from its higher risk jurisdictions list

    The Guernsey Financial Services Commission updated its Handbook on Countering Financial Crime, removing South Africa from its list of higher risk jurisdictions following the Financial Action Task Force's decision. Despite FATF's removal of Burkina Faso, Mozambique, and Nigeria from increased monitoring, these countries remain on the Commission's list due to other external sources. Licensees are reminded that removal from Appendix I does not automatically lower risk assessments for business relationships connected to these jurisdictions.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-10-28AlbaniaAlbania Financial Services Authority

    Albania Financial Services Authority publishes Jan–Sep 2025 off-exchange government securities statistics with individuals at 98.13% of trades and own-portfolio sales down 67.56%

    The Albania Financial Services Authority released data on the off-exchange market for government securities from January to September 2025, highlighting primary-auction order transmission and redemptions at maturity as key drivers of market volume. In the secondary market, individual investors dominated activity, with long-term bonds accounting for 54.33% of volume. Transaction types B, C, and F declined in nominal value by approximately ALL 5,103 million compared to the previous year.

    Data & statisticsFinancial and market indicators
  • 2025-10-28AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan backs launch of the Turkic States Insurtech Summit and flags regulatory focus on insurtech

    The Central Bank of the Republic of Azerbaijan supported the Turkic States Insurtech Summit in Baku, emphasizing insurtech adoption and digital transformation in Azerbaijan’s insurance market. Director General Vusal Gurbanov highlighted technology-led innovation as key to the sector's future, while Penah Bənnayev noted the alignment of the central bank’s regulations with international standards. The summit is organized by Türkiye’s Ministry of Trade and other regional associations.

    Policy & regulationCooperationFintech and insurtech