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2025-10-15•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to four banks: The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and OCBC Bank (Hong Kong). HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-10-15•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's quarterly Economic Review highlights accelerated economic activity in Q2 2025, with real GDP growth at 3.5% year on year, driven by increased government and private consumption. Labour-market conditions remained tight, with employment up 3.7% and nominal compensation per employee rising 18.5%. The review also notes inflation rising to 3.5% in August 2025 and continued rapid household credit growth, alongside a study indicating a deteriorating fiscal position and procyclical fiscal policy.
ResearchEconomic data and developments
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2025-10-15•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria released September 2025 statistical data on banknotes and coins in circulation, available in dynamic series and tabular format. The dissemination calendar is also provided in the "Statistics of banknotes and coins in circulation" section.
Data & statisticsCurrency and cash management
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2025-10-15•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority updated sanctions information on Iran (Nuclear), ISIL (Da'esh) and Al‑Qaida, and Global Human Rights regimes. Firms should refer to Isle of Man Government news releases for detailed changes and access current sanctions notices via the Isle of Man Treasury’s Sanctions and Export Control webpage. Ongoing notifications are available through an RSS feed and the UK Treasury email alert system.
Policy & regulationGuidance & interpretationSanctions list update
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2025-10-15•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission is collaborating with Apple and Google to remove unauthorized insurance-selling apps in Thailand. This initiative targets unlicensed foreign entities posing as insurers and aims to mitigate risks such as unpaid claims and limited legal recourse. Consumers are advised to verify the licensing of insurers and intermediaries through official channels.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-10-15•Middle East•Arab Monetary Fund
The Arab Monetary Fund and ASEAN+3 Macroeconomic Research Office signed a three-year Memorandum of Understanding to enhance collaboration in supporting global financial stability and strengthening the Global Financial Safety Net through joint research, events, capacity building, and staff exchanges. It was signed by AMRO Director Yasuto Watanabe and AMF Director General Dr. Fahad M. Alturki during the 10th Regional Financing Arrangements High-level Dialogue at the 2025 IMF/World Bank Annual Meetings.
Policy & regulationCooperationDomestic cooperationFinancial stability and systemic risk
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2025-10-15•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino issued Regulation No. 2025-04, establishing an Investor Compensation Fund to indemnify investors up to EUR 20,000 per investor when providers enter compulsory liquidation. The fund is financed ex post through contributions from other providers, based on their potential Overall Amount of Protected Investments, with specific caps and exclusions. Membership is mandatory for most San Marino providers, with provisions for EU, EEA, and non-EU branches. The regulation takes effect on 23 October 2025.
Policy & regulationRules & requirementsOther
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2025-10-15•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) met with Federal Reserve Vice Chair Phillip Jefferson to discuss CBBH independence and potential cooperation on technical assistance and capacity building. The meeting, during the IMF and World Bank Annual Meetings, also addressed global monetary trends and central bank measures for financial stability. Governor Jasmina Selimovic invited Vice Chair Jefferson to the CBBH’s 30th anniversary celebration in 2027.
Institutional developmentCooperation & capacity buildingCross-border cooperation
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2025-10-15•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
SUSEP directors Julia Normande Lins and Carlos Queiroz participated in ITC Vegas 2025, discussing Brazil's innovation-oriented insurance regulatory approach. Key initiatives include the Regulatory Sandbox and Open Insurance, aimed at enhancing competition and access to insurance. The event gathered over 9,000 participants to explore innovation and regulation in the insurance sector.
Policy & regulationOtherFintech and insurtechSupervision process and methodologies
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2025-10-15•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported on discussions between Tajikistan’s First Deputy Prime Minister and the President of the Islamic Development Bank Group, focusing on expanding cooperation in key economic sectors. Banking and financial-sector reform, particularly Islamic banking development, were highlighted as priorities. The talks also addressed green energy, digitalisation, and innovative technologies to support Tajikistan's sustainable economic development.
Policy & regulationCooperationLeadership change and appointments
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2025-10-15•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan emphasized financial technology development as a priority at the "Dushanbe Invest-2025" forum, highlighting payment-system development and banking digitisation as key strategies to enhance financial access. The panel included diverse stakeholders discussing digitisation, open banking, cybersecurity, and investment in the digital economy.
Policy & regulationReform agendas & prioritiesFintech and insurtechMarket development
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2025-10-15•Iraq•Central Bank of Iraq
The Central Bank of Iraq's Governor, Ali Mohsen Al-Allaq, met with Iraqi international researchers at the Iraqi Research Leaders Forum in Baghdad to discuss economic plans, banking reforms, and the Central Bank's role in financial stability and sustainable development, emphasizing the importance of partnerships between monetary and research institutions.
Policy & regulationCooperationFinancial stability and systemic riskMarket development
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2025-10-15•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) has imposed a product intervention measure on turbo certificates, restricting their marketing, distribution, and sale to retail investors in Germany and mandating enhanced risk transparency. Issuers and intermediaries must display a standardised risk warning and test investors' understanding of the products biannually. Effective from 16 June 2026, the measure follows a market study revealing significant investor losses and concerns over product complexity and marketing practices.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-10-15•South Africa•South African Reserve Bank
The South African Reserve Bank's Deputy Governor Fundi Tshazibana stressed that African central banks should tackle climate change within their mandates, focusing on financial resilience over direct monetary policy. Tshazibana highlighted Africa's climate vulnerability and financing constraints, advocating for deeper capital markets, credible carbon markets, and closing insurance protection gaps. The address also noted ongoing G20 efforts to enhance sustainable finance and climate adaptation financing.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-10-15•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) honored 16 North Luzon partners for contributions to financial inclusion, education, currency management, and digital payments at the 2025 Outstanding BSP Stakeholders Appreciation Ceremony. Notable awardees include China Banking Corporation’s Baguio-La Trinidad Cash Center, Land Bank branches, and Cabanatuan's City Government.
Other
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2025-10-15•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 3.2% year-on-year increase in cash remittances from Overseas Filipinos, reaching USD 2.98 billion in August 2025, driven by both land-based and sea-based workers. Personal remittances also rose 3.2% to USD 3.31 billion. The United States remained the top source of cash remittances, though routing practices may overstate its share.
Data & statisticsCross-border payments
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2025-10-15•Europe•European Central Bank
European Central Bank Vice-President Luis de Guindos, at the Single Resolution Mechanism's 10th anniversary conference, stressed completing the EU banking union and enhancing financial integration. He highlighted the EUR 80 billion Single Resolution Fund and legislative priorities like ratifying the reformed European Stability Mechanism Treaty, establishing a European liquidity framework, and advancing a European deposit insurance scheme. De Guindos also advocated for reducing national barriers, harmonizing tax and corporate laws, and expanding the European Securities and Markets Authority's powers.
Policy & regulationReform agendas & prioritiesRecovery and resolution
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2025-10-15•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles released its 2024 Financial Surveillance Report, highlighting supervisory analysis and data on commercial banks, non-bank financial institutions (NBFIs), payment service providers (PSPs), and bureaux de change (BDCs). The report notes positive sector results, with banks and NBFIs showing stronger outcomes, while BDCs experienced weaker profitability. Key developments include a 7.7% increase in commercial bank assets and amendments to the National Payment System Regulations.
SupervisionRisk monitoring & watch pointsActivity and performance reporting
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2025-10-15•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore fined Tan Tee Beng SGD 50,000 for insider trading in Tee International and Tee Land shares, after a joint investigation with the Commercial Affairs Department. Tan admitted to violating sections 219(2)(a) and 219(2)(b) of the Securities and Futures Act and agreed not to be a director or involved in management for two years. Civil penalties under section 232 can be up to three times the profit gained or loss avoided, with a minimum of SGD 50,000 for individuals.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-10-15•Serbia•National Bank of Serbia
The National Bank of Serbia announced that the professional and additional examinations for Authorized Broker and Authorized Insurance Representative titles will occur from 15 to 17 December 2025 in Belgrade.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-15•Serbia•National Bank of Serbia
The National Bank of Serbia announced the schedule for the December 2025 professional exam for licensing individuals to provide information on voluntary pension funds and distribute prospectuses. The exam will take place in Belgrade on 22 December 2025.
Policy & regulationRules & requirementsLicence approval
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2025-10-15•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission announced measures to strengthen household loan management under the housing market stabilization plan, focusing on mortgage and jeonse lending in the Seoul metropolitan area. From October 16, mortgage borrowing limits will be capped based on house prices, and the stressed debt service ratio (DSR) system will be tightened. Additional measures include increasing the minimum risk weight on mortgage loans to 20% from January 2026 and lowering the loan-to-value ratio for mortgages in newly designated speculation regulated areas.
Policy & regulationRules & requirementsLendingMacroprudential policy and tools
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2025-10-15•Estonia•Central Bank of Estonia
The Central Bank of Estonia and Estonia’s Ministry of Finance are attending the IMF and World Bank annual meetings in Washington, focusing on global economic challenges and funding for Ukraine. Discussions address global growth constraints, fiscal stability, and financial-sector risks, emphasizing debt vulnerabilities and the IMF's economic policy programme for Ukraine. The World Bank is reviewing reforms to enhance efficiency and financial capacity, while the International Development Association is raising funds for its 21st replenishment.
Policy & regulationCooperationEconomic data and developmentsFinancial stability and systemic risk
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2025-10-15•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia and TERAJU Bumiputera Corporation have signed a two-year Memorandum of Understanding to enhance capital market financing access for Bumiputera micro, small, and medium enterprises and mid-tier companies. This partnership supports the SC’s 2024–2028 roadmap to raise RM40 billion in market-based fundraising by 2028, focusing on fundraising readiness, leadership capacity, and sustainability disclosures. The collaboration includes establishing an Elevate–TERAJU cohort and exploring co-investment opportunities.
Policy & regulationCooperationSME financing
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2025-10-15•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has issued a Russia sanctions notice designating 34 entities and five individuals under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, as applied in Guernsey. Firms must freeze assets linked to these designated persons and report findings to the States of Guernsey Policy & Resources Committee. Compliance with reporting obligations under the Sanctions (Bailiwick of Guernsey) Law, 2018, is mandatory, and firms must not provide funds to designated parties unless permitted by a derogation or licence.
Policy & regulationGuidance & interpretationNew sanctions designations
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2025-10-15•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has reminded financial services and prescribed businesses to submit the 2025 Financial Crime Risk Return by 31 October 2025 to avoid penalties for late or inaccurate filings. The return is accessible via the Commission’s Online Submissions Portal, with guidance and a template available to assist firms.
SupervisionRegulatory reportingAML and CFT
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2025-10-15•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has introduced a limited licence under the Protection of Investors (Bailiwick of Guernsey) Law, 2020, for fiduciary firms acting as Designated Administrators for Family Private Investment Funds (Family PIFs). This licence, with a reduced annual fee of GBP 1,000, is available to firms licensed solely under the Regulation of Fiduciaries Law, 2020, intending only to perform the Designated Administrator role for Family PIFs. Licensees must comply with the POI Law, with certain rule modifications reflecting their restricted investment activities.
Policy & regulationRules & requirementsLicence approval
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2025-10-15•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) announced an Administrative Supervisory Settlement Agreement with Americanas S.A., in judicial reorganisation, to aid its investigation into the company's January 2023 disclosed material fact. This follows the first supervisory agreement concluded in September 2023. CVM's framework allows such agreements to potentially terminate punitive actions or reduce penalties in exchange for full cooperation, including admission of infringement and provision of supporting information.
SupervisionInterventionsOther
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2025-10-15•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) approved four settlement agreements totaling BRL 2,633,100 to resolve proceedings involving Riza Gestora de Recursos Ltda. for potential price manipulation, Light S.A. for non-disclosure, Brasilagro for trading during a blackout, and Sendas Distribuidora S.A. for delayed information. The Federal Attorney’s Office found no legal impediments, and the board accepted the Termo de Compromisso Committee’s recommendations.
EnforcementInvestigations & enforcement actionsOther
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2025-10-15•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has opened submissions for the 19th Investor Education Press Award, recognizing journalism that elucidates personal finance and investment concepts. Eligible entries, published in 2025, can be submitted in four categories: national and local newspaper coverage, magazines, and digital media. Winners receive BRL 5,000, a certificate, and a plaque.
Financial literacy & educationFinancial literacy and education
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2025-10-15•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a sanctions notice identifying 51 ships under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, requiring Guernsey businesses to check and report links to these vessels. Businesses must comply with the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020 and report findings to the States of Guernsey Policy & Resources Committee and the GFSC, detailing customer or transaction links and complying with statutory and Handbook Rule 12.37 requirements.
Policy & regulationGuidance & interpretationSanctions list update
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2025-10-15•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a public warning that OrangeX is not authorised to offer virtual asset-related services in or from Seychelles under the Virtual Asset Service Providers Act, 2024. OrangeX has not submitted the necessary application, and the FSA advises investors to perform due diligence before engaging with the platform.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-10-15•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC announced that the Department of Justice found prima facie evidence to file criminal complaints against Eton Phil Non-Specialized Wholesale Trading, SCET Colleens Corporation, and Hector Aldwin Liao Pantollana's group for alleged Securities Regulation Code violations. They are accused of offering unregistered investment products, with potential penalties of up to PHP 5 million and 21 years’ imprisonment.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-10-15•Global•United Nations Environment Programme Finance Initiative
The UN Environment Programme Finance Initiative's third report on the Principles for Responsible Banking shows increased sustainability integration among signatories, representing nearly half of global banking assets. MSCI Sustainability Institute analysis reveals 61% of PRB signatories excel in managing sustainability risks, with PRB banks enjoying lower capital costs. The report highlights regulatory momentum in Asia-Pacific but notes uneven progress and challenges in data collection and corporate disclosures.
ResearchClimate risk and sustainable finance
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2025-10-15•Kyrgyzstan•National Bank of the Kyrgyz Republic
The Osh regional office of the National Bank of the Kyrgyz Republic conducted a financial literacy lecture in Aravan district, focusing on the central bank's role, national currency security, and practical financial topics. The session covered loans, deposits, electronic services, consumer protection, and household budgeting.
Financial literacy & educationFinancial literacy and education
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2025-10-15•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and Financial Conduct Authority have finalized reforms to remuneration rules for banks, building societies, and PRA-designated investment firms. Key changes include a standardized four-year bonus deferral for Material Risk Takers (MRTs), a marginal deferral rate approach, and increased flexibility in remuneration structures. The reforms introduce a single quantitative MRT indicator and adjust governance expectations, with most changes effective from 16 October 2025.
Policy & regulationRules & requirements
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2025-10-15•Russia•Central Bank of Russia
The Central Bank of Russia's October Monitoring of Businesses indicates a moderate expansion in business activity, with the Business Climate Index rising to 2.6 points from 1.2 in September. Companies reported improved current output and demand assessments, with more positive three-month-ahead expectations. Business price expectations increased for the first time since January 2025, alongside continued growth in investment activity in Q3 2025.
Data & statisticsEconomic data and developments
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2025-10-15•Russia•Central Bank of Russia
The Central Bank of Russia's October Regional Economy report shows continued consumption growth from August to September, despite slower economic growth in some regions. Notable trends include increased car sales and strong demand for catering services in Central Russia, the North-West, and the Far East, while Siberia saw a decline in furniture output. The report also covers monetary conditions, credit and deposit markets, regional budgets, and the 2025 harvest.
ResearchEconomic data and developments
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2025-10-15•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has expanded its Digital Regulatory Reporting (DRR) solution to include Hong Kong's revised derivatives reporting requirements, marking the eighth jurisdiction supported by DRR. This expansion aids firms in implementing and validating changes through a machine-executable industry interpretation of the rules, with ISDA maintaining the DRR code as reporting rules evolve.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-10-15•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a statement from Senator Elizabeth Warren criticizing the Office of the Comptroller of the Currency's approval of Erebor bank. Warren argued the approval was politically motivated, favoring associates of President Trump, and warned it could increase systemic risk and lead to taxpayer-funded bailouts.
OtherLicence approval
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2025-10-15•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission issued an alert for bondholders of six Sahakol Equipment Public Company Limited bond series, urging them to review information and exercise their rights at a meeting on 17 October 2025. The meeting will address proposed changes related to debt restructuring, including maturity extensions, revised repayment structures, and higher interest rates. Bondholders are advised to seek comprehensive information and consider the implications before voting.
SupervisionAlertsCorporate governance
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2025-10-15•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has imposed a 10-year bar on Miss Sareerat Saechaw, a former investment consultant at ttb Bank Public Co., Ltd., for misappropriating a client's assets. Sareerat withdrew funds using the client's credit card and internet banking, resulting in losses of THB 389,622.60, which she has fully compensated. The SEC advises investors to regularly review financial statements and avoid using consultants' contact details for communications.
EnforcementSanctions & designations
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2025-10-15•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urged holders of Energy Absolute Public Company Limited’s 13 bond series to review information and exercise their rights at a bondholders’ meeting on 17 October 2025. The meeting will consider waivers related to the bondholder register and an exemption from an event of default for 11 series to facilitate debt negotiations. Bondholders are encouraged to analyze the proposals' benefits and impacts before voting.
SupervisionOtherCorporate governance
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2025-10-15•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has directed Stella X Public Company Limited to clarify its board-approved acquisition of Wind Energy Holding Company Limited shares via a private placement share swap and a loan secured by WEH shares. The SEC raised concerns about directors' responsibilities, swap pricing, shareholder dilution, and collateral arrangements. Stella's independent financial advisor deemed the proposed swap ratio inappropriate, highlighting potential dilution of up to 32.48% for STELLA shareholders.
SupervisionInterventionsCorporate governance
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2025-10-15•United Kingdom•Bank of England
The Prudential Regulation Authority and the Financial Conduct Authority have finalized reforms to senior banker remuneration rules, enhancing flexibility in variable pay and linking bonuses to responsible risk-taking. Key changes include reducing the bonus deferral period from eight to four years and adjusting deferral proportionality above the GBP 660,000 threshold. Effective from 16 October 2025, the reforms align with the Senior Managers Regime and simplify the regulatory framework by reducing duplication between the two authorities.
Policy & regulationRules & requirements
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2025-10-15•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's September 2025 Business Expectations Survey shows widespread optimism among firms, with a Confidence Index of 31.5 points, projected to rise to 51.8 points in six months. The services sector led macroeconomic optimism, while non-market services showed the highest confidence in operations. Key constraints include high bank charges, taxes, and poor infrastructure, with regional optimism highest in the North-East and lowest in the South-East.
Data & statisticsEconomic data and developments
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2025-10-15•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's September 2025 Expectations Survey Report shows a modest improvement in consumer sentiment, with the Overall Consumer Sentiment index rising to -6.4 points from -7.2 in August. Despite positive macroeconomic expectations, price perceptions remain negative, with respondents anticipating further increases over the next six months. Planned spending is focused on necessities, while sentiment toward major purchases remains negative, with buying-condition indices for big-ticket items below the 50 threshold.
Data & statisticsEconomic data and developments
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2025-10-15•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has issued an alert regarding fraudulent SMS messages falsely appearing to be from the authority, claiming investigations into financial information. The authority clarified it never contacts consumers via SMS and advised vigilance against unsolicited messages. Suspicious messages can be forwarded to 7726 for telecom operators to block, and suspected fraud should be reported to the police.
SupervisionAlertsFraud and scams
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2025-10-15•United States•Federal Deposit Insurance Corporation
Acting Chairman Travis Hill announced that the FDIC has revised its insured depository institution resolution planning, emphasizing rapid sales over bridge banks after the 2023 bank failures. The FDIC is enhancing its failed-bank marketing process, reducing costs to the Deposit Insurance Fund, and improving funding options for large receiverships. Additionally, the FDIC plans to pilot a pre-qualification process for nonbank bidders and is working with the Federal Financing Bank to expedite asset securitization.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-10-15•Europe•European Commission
The European Commission’s Directorate‑General for Financial Stability, Financial Services and Capital Markets Union published a study identifying barriers to scaling up funds for innovative companies in the EU. Delivered by Civitta, EBAN, and Bourse Consult, it highlights the fragmented and underdeveloped EU venture capital ecosystem compared to the U.S. The findings will inform future policy work under the Savings and Investments Union.
ResearchSME financing
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2025-10-15•Canada•Payments Canada
Payments Canada released its 2025 Q4 update on the Real-Time Rail (RTR), highlighting the start of end-to-end testing after completing the technical application build. System integration testing is ongoing, with industry-facing testing planned for 2026. Payments Canada also published the Real-Time Rail Participation Guide for Payment Service Providers, detailing eligibility for membership under the amended Canadian Payments Act.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-15•Chile•Central Bank of Chile
The Central Bank of Chile's Bank Credit Survey for Q3 2025 shows stable lending conditions, with tighter consumer credit standards and unchanged corporate lending standards. Housing loan demand strengthened significantly, while consumer credit demand was mixed, and demand from real estate and construction firms weakened. The survey data, collected from Chilean banks, is available in the Central Bank's Statistical Database.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-15•United States•Federal Reserve Board
Federal Reserve Governor Christopher J. Waller discussed AI's economic impact, advocating for policies managing AI risks without stifling innovation. He noted a 13% employment decline in AI-exposed jobs and potential hiring reductions. Waller plans to convene industry leaders at the Federal Reserve’s Payments Innovation Conference to discuss AI in payments.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-10-15•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority (FRA) is working with the Ministry of Finance to enhance the primary dealers system and explore Treasury bond and bill issuance to individuals. FRA Chair Mohamed Farid emphasized updating legislative frameworks, strengthening governance, and advancing digital transformation to support financial stability and inclusion. The dialogue, during IMF and World Bank meetings, also highlighted advanced supervisory tools and international benchmarking.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial inclusionFinancial stability and systemic risk
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2025-10-15•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, chaired by Mohamed Farid, engaged in investor dialogues at the IMF and World Bank Meetings, highlighting regulatory developments in Egypt's financial markets. Discussions focused on non-banking financial sector reforms, including insurance, capital markets, and digital transformation. Key areas included insurer capitalisation, transparency, investor protection, financial technology adoption, and support for sustainable finance and SMEs.
Policy & regulationReform agendas & priorities
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2025-10-15•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) allocated CAD 1.55 million to seven not-for-profit organizations to enhance financial literacy, investor protection, and support for vulnerable investors in Canada. Funded by enforcement sanctions, the grants will aid educational programs, research, and investor protection initiatives. Recipients include Momentum, SEED Winnipeg, Launch Okanagan, Osgoode Investor Protection Clinic, FAIR Canada, and Junior Achievement of Canada.
Policy & regulationImplementation, projects & pilotsFinancial literacy and educationConsumer and investor protection
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2025-10-15•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets, with the Ministry of Finance, held sessions on new creditor obligations under Law No. 189/2025 for consumer protection in financial services. Key changes include extending protections to guarantors, mandating internal debt restructuring policies, and enhancing credit cost limits and penalties. The CNPF's authority will expand to cover savings and loan associations from 1 January 2026.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-10-15•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) chair welcomed a court ruling upholding the 2024 Regulation NMS reforms, which include reduced access fee caps for protected quotations. The SEC will assess whether compliance dates for these caps and minimum pricing increments need adjustment due to litigation-related uncertainties. The reforms amend Regulation NMS Rules 610 and 612, with compliance dates set for November 2025 and May 2026.
Policy & regulationRules & requirementsTrading
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2025-10-15•Moldova•Ministry of Finance (Moldova)
Moldova's Ministry of Finance announced that Law No. 189/2025, enhancing consumer protection in financial services, will take effect on 25 October 2025. The law mandates insurers and banks to improve disclosure and contract transparency, with specific provisions for online and commercial credit agreements. The National Commission for Financial Markets' supervisory scope will expand to include savings and loan associations and debt collection companies, aiming to bolster transparency and protection.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-10-15•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has confirmed that Westpac Banking Corporation has completed its multi-year risk transformation program, leading to the removal of the remaining AUD 500 million capital add-on. This follows a Court Enforceable Undertaking from 2020, under which Westpac addressed prudential weaknesses in culture, governance, and accountability.
SupervisionInterventionsRisk managementPrudential risks
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2025-10-15•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) granted preliminary conditional approval for Erebor Bank, National Association's de novo national bank charter application. This marks the first such approval under Comptroller Jonathan V. Gould, emphasizing a policy that allows banks to engage in permissible digital asset activities safely. A conditional approval letter was also published.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-15•Egypt•Central Bank of Egypt
The Central Bank of Egypt and China's National Financial Regulatory Administration have signed a Memorandum of Understanding to enhance cooperation on banking supervision. The MoU includes joint efforts on licensing, supervision of cross-border activities, and information sharing to ensure the safety and soundness of banks. It also involves exchanging expertise and holding regular meetings to streamline regulatory updates.
SupervisionCooperationCross-border cooperation
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2025-10-15•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority, led by Eissa Abdulla Al-Kaabi, participated in the 15th Taipei Corporate Governance Forum in Taiwan. The forum focused on discussions among global financial and regulatory authorities about implementing international sustainability standards.
Policy & regulationCooperationCorporate governance
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2025-10-15•Macao•Monetary Authority of Macao
The Monetary Authority of Macao (AMCM) joined the 35th Lisbon Meeting with central banks of Portuguese-speaking countries to enhance financial cooperation with China. AMCM outlined steps to develop Macau’s bond market and improve its Central Securities Depository for multi-currency settlement. Additionally, AMCM discussed establishing a training centre for supervisors with Portugal’s Authority for Insurance and Pension Funds Supervision.
Policy & regulationCooperationCross-border cooperation
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2025-10-15•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority, led by Eissa Abdulla Al-Kaabi, participated in the 15th Taipei Corporate Governance Forum. Discussions centered on implementing international sustainability standards among global financial and regulatory authorities.
Policy & regulationCooperationCorporate governance
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2025-10-15•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) will appeal to the Federal Supreme Court against the Federal Administrative Court's partial decision overturning its write-down of Credit Suisse Additional Tier 1 (AT1) capital instruments. This action follows FINMA's March 2023 order, based on the Federal Council’s Emergency Ordinance, as part of measures to stabilize Credit Suisse through a merger with UBS.
EnforcementInvestigations & enforcement actionsCapital adequacy
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2025-10-15•Switzerland•Federal Department of Finance (Switzerland)
Switzerland's Federal Council has initiated a consultation on draft ordinances to enhance anti-money laundering and counter-terrorism financing measures, including a new beneficial owner transparency register. The proposals follow the adoption of the Federal Act on the Transparency of Legal Entities and the Identification of Beneficial Owners and a revised Anti-Money Laundering Act, aiming to establish a centralised register and specify consultancy services under the AMLA. Implementation is set for the second half of 2026, aligning with Switzerland's next Financial Action Task Force evaluation.
Policy & regulationRules & requirementsAML and CFTBeneficial ownership
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2025-10-15•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force issued St. Kitts and Nevis’ fourth enhanced follow-up report and upgraded four FATF technical compliance ratings. Recommendation 4 moved to Compliant, while Recommendations 24, 36 and 39 moved to Largely Compliant. St. Kitts and Nevis is now rated Compliant or Largely Compliant on 35 of 40 FATF Recommendations.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-10-15•United States•U.S. Department of the Treasury
U.S. Treasury Secretary Scott Bessent outlined priorities for the IMF and World Bank, emphasizing core mandates, accountability, and disciplined resource use. He calls for objective IMF surveillance on macroeconomic stability and governance safeguards, urging the World Bank to prioritize energy growth, reform procurement, and end support for China. The statement stresses tighter budget oversight, including flat growth in administrative budgets and salary freezes for senior management.
Policy & regulationReform agendas & prioritiesOther
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2025-10-15•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury added 51 vessels to the UK Sanctions List under the Russia sanctions regime, subjecting them to shipping sanctions per the Sanctions (Implementation of UK Sanctions) Regulations 2024. The update enforces port entry prohibitions, movement restrictions, and registration limitations for specified ships. Compliance includes screening against the UK Sanctions List, freezing relevant assets, and reporting to the Financial Intelligence Unit, with non-compliance constituting a criminal offence.
Policy & regulationRules & requirementsSanctions list update
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2025-10-15•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury updated the UK Sanctions List under the Russia sanctions regime, adding 39 new designations subject to asset freeze and trust services sanctions. Relevant entities must freeze assets, review customer information, and report to the Financial Intelligence Unit, with non-compliance constituting a criminal offence. The notice includes an annex with the new designations and guidance on false positives and delistings.
Policy & regulationRules & requirementsSanctions list update
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2025-10-15•Europe•Single Resolution Board
The Single Resolution Board (SRB) marked the 10th anniversary of the Single Resolution Mechanism (SRM) with a conference and published materials on its achievements and future challenges. SRB Chair Dominique Laboureix highlighted the SRM's role in enhancing financial stability, noting milestones like the Single Resolution Fund's growth to EUR 80 billion and progress on minimum requirement for own funds and eligible liabilities (MREL). The SRB also introduced its forward-looking "SRM Vision 2028."
Policy & regulationCooperationRecovery and resolution
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2025-10-15•Moldova•National Bank of Moldova
The National Bank of Moldova and the World Bank Group discussed Moldova's macroeconomic outlook, FSAP results, and cooperation on digitalisation, financial inclusion, and sustainable finance at the World Bank Group and IMF Annual Meetings. Priorities included financial stability and structural reforms, with highlights on Moldova's SEPA accession and initiatives like the M-GROW programme and the 2024–2028 Sustainable Finance Roadmap. The World Bank's support aims to enhance institutional capacity and align regulations with European standards.
Policy & regulationCooperationDomestic cooperation
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2025-10-15•Moldova•National Bank of Moldova
Deputy Governor Mihnea Constantinescu of the National Bank of Moldova emphasized institutional agility, sector prioritization, and European integration as key to enhancing competitiveness in small open economies at the Bank of Lithuania’s conference. He cited Baltic examples where strategic sector reforms, like Estonia’s e-government, succeed with institutional support. Constantinescu noted Moldova's challenges with energy price shocks and geopolitical uncertainty, advocating for energy infrastructure investment to boost industry efficiency and foster new sectors.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsMonetary policy decisions and developments
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2025-10-15•Moldova•National Bank of Moldova
The National Bank of Moldova, led by Governor Anca Dragu, met with World Bank and International Finance Corporation officials to discuss Moldova's economic outlook and cooperation priorities. Topics included the Financial Sector Assessment Program results, sustainable finance, digitalisation, financial inclusion, and the EU-supported Moldova Growth Plan for 2025–2027. Dragu emphasized financial stability, inflation reduction, regulatory alignment with European standards, and modernisation of payment infrastructure.
Policy & regulationCooperationCross-border cooperation
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2025-10-15•Moldova•National Bank of Moldova
The National Bank of Moldova (NBM) collaborated with the US Department of the Treasury to boost macroeconomic stability, governance, and financial-sector transparency amid reforms and European integration. Governor Anca Dragu highlighted the NBM's commitment to prudent monetary policy and international standards, noting progress in payments digitalization and SEPA integration. Discussions also covered strengthening supervisory mechanisms and enhancing cashless transaction security.
Policy & regulationCooperationCross-border cooperation
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2025-10-15•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad & Tobago announced Governor Larry Howai is leading the national delegation at the 2025 Annual Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C. In his statement to the G-24, Howai urged international action to reduce trade barriers affecting developing economies and emphasized the need for a fair multilateral trading system. The meetings, which include key financial and development discussions, run from 13 to 18 October.
Policy & regulationCooperationOther
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2025-10-15•Palestine•Palestine Monetary Authority
Governor Yahya Shunnar of the Palestine Monetary Authority led a delegation at a UK conference on Gaza's reconstruction. He presented the Gaza Recovery and Reconstruction Implementation Program (GRRIP), aligned with the Arab Plan, to be executed through a Gaza Reconstruction Unit. The delegation is ready to coordinate with Egyptian and Jordanian authorities on border issues, with Egypt planning an International Conference on Gaza’s Reconstruction in Cairo in November 2025.
Policy & regulationImplementation, projects & pilotsOther
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2025-10-15•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority has directed banks in the Gaza Strip to gradually resume financial services starting 16 October 2025, contingent on each bank's readiness. Initial operations will involve a limited number of branches, with expansions as more branches become ready. The PMA also encourages the use of electronic payment methods to minimize branch congestion.
Policy & regulationImplementation, projects & pilotsOther
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2025-10-15•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre announced CME Group's expansion into the Middle East with a new Dubai office operating under a Dubai Financial Services Authority licence. The office will cater to regional demand for trading CME Group's futures, options, and cash markets across various asset classes. CME Group plans to list spot USD/AED on EBS Market and EBS Direct by 30 June 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-14•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg hosted its tenth workshop on household finances and consumption, gathering nearly 50 participants to discuss economic and financial decision-making using microeconomic data. Governor Gaston Reinesch emphasized the importance of high-quality micro data in understanding monetary policy transmission. The event featured 28 research papers and a keynote by Michael Ehrmann on central bank communication.
Policy & regulationImplementation, projects & pilotsMonetary policy decisions and developments
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2025-10-14•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission has approved Ilian Langarov, Julieta Dimitrova, and Bilyana Valkova as members of the Board of Directors of Alteron Real Estate Investment Trust (REIT).
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-10-14•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission attended the 48th Annual Meeting of the Committee of Insurance, Securities and Non-Bank Financial Authorities in Botswana, organized by the Non-Bank Financial Institutions Regulatory Authority. The meeting focused on enhancing cooperation among SADC financial regulators, harmonizing regulatory standards, and reinforcing prudential supervision and financial stability.
Policy & regulationCooperationCross-border cooperation
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2025-10-14•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has set the 2025 priorities for annual financial reports, focusing on IFRS financial statements, sustainability statements, and digital reporting. Key areas include geopolitical risk disclosures, segment reporting, materiality in sustainability statements, and common cash flow statement errors. Issuers, auditors, and supervisory bodies should integrate these priorities into their processes.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-10-14•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of the Republic of Kosovo is attending the 2025 IMF and World Bank Annual Meetings in Washington, D.C., engaging in bilateral and multilateral discussions. The visit includes signing a letter of intent with the Bank of Italy on a regional instant payments initiative and participating in an IMF panel on financial-system resilience. The delegation will present Kosovo's financial-sector developments and seek further technical support.
Policy & regulationCooperationCross-border cooperation
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2025-10-14•Spain•Spanish Securities Commission (CNMV)
Spain's Financial Education Plan, backed by the Bank of Spain, CNMV, and the Ministry of Economy, Trade and Enterprise, has launched the fifteenth edition of the Finanzas Para Todos School Financial Education Programme. It provides resources for secondary and vocational education to enhance financial skills, aligned with the EU financial competences framework. Participation is free, with materials in multiple languages, and includes a voluntary student competition.
Financial literacy & educationFinancial literacy and education
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2025-10-14•Ukraine•National Bank of Ukraine
Volodymyr Lepushynskyi of the National Bank of Ukraine discussed central bank communication strategies during uncertainty and major shocks in a column for Central Banking. The article addresses crisis communication, the publication of alternative scenarios, and the handling of indicators impacting inflation outside the central bank's mandate.
Monetary policyOtherMonetary policy decisions and developments
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2025-10-14•Italy•Bank of Italy
The Bank of Italy released updated statistics on international tourism in Italy, reflecting data as of July 2025. The statistics are derived from a border survey conducted since 1996, utilizing interviews and counts of resident and non-resident travelers at various entry points.
Data & statisticsBalance of payments and other external statistics
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2025-10-14•Italy•Bank of Italy
The Bank of Italy and the Italian Banking Association hosted a Milan conference on "Cyber Resilience, Regulation, and System-wide Cooperation," focusing on cybersecurity challenges and the European regulatory framework. Discussions emphasized aligning risk management with the Digital Operational Resilience Act (DORA) and structured third-party risk management. Participants highlighted the importance of information sharing, operational collaboration, and skills development for financial system security.
Policy & regulationCooperationCyber resilienceOperational risk and resilience
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2025-10-14•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released Report 818, highlighting deficiencies in superannuation trustees' retirement communications, which often lack urgency and fail to engage members. The review of 12 Registrable Superannuation Entity licensees found generic messaging and insufficient tailoring for diverse members. ASIC calls for improved retirement guidance, better member engagement, and enhanced governance, collaborating with the Australian Prudential Regulation Authority to ensure compliance with retirement income covenant obligations.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-10-14•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission outlined its 2025-26 priorities for consumer credit supervision, focusing on National Credit Act protections. Key areas include mortgage brokers, motor vehicle finance, financial hardship, debt management, and business models avoiding consumer credit protections. Ongoing actions involve compliance reviews, court proceedings, and enforcement against entities like ANZ, National Australia Bank, and others for various infractions.
Policy & regulationReform agendas & prioritiesConsumer and investor protection
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2025-10-14•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's National Commission on Securities and Stock Market amended procedures for asset return under 'asset blocking' sanctions and issued investor warnings on specific projects. It approved a draft resolution for an Indicative Asset Management Plan and amendments to Cabinet resolutions No. 595 and No. 822. The Commission also certified a draft law on the de-Sovietization of Ukraine's bargaining chip name.
Policy & regulationRules & requirementsOther
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2025-10-14•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has authorized Tradeweb Company to operate as an alternative trading system for sukuk and debt instruments, following a resolution from June 2024. This approval under the Capital Market Law aims to enhance the secondary market for debt instruments by offering trading solutions and improving transparency and efficiency.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-14•Guatemala•Bank of Guatemala
The Bank of Guatemala and Guatemala’s Ministry of Public Finance responded to Fitch Ratings’ upgrade of Guatemala’s sovereign credit rating to BB+ with a stable outlook, highlighting it as validation by international market participants. Fitch attributed the upgrade to stable growth, policy prudence, and current account surpluses. The authorities plan to continue engaging with international stakeholders to enhance Guatemala’s credit risk profile.
Policy & regulationInternational standards & recommendationsCredit ratings
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2025-10-14•Latvia•Central Bank of Latvia
The Central Bank of Latvia released a working paper analyzing the impact of macroeconomic and budget balance shocks on public debt in the euro area. Key findings include that GDP shocks reduce the debt-to-GDP ratio, while interest rate shocks increase it. Austerity measures are more effective post-expansion and when initial debt is low.
Research
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2025-10-14•Latvia•Central Bank of Latvia
The Central Bank of Latvia released Working Paper 7/2025, examining "fiscal drag" in 21 European countries using a microsimulation approach. The study finds tax-to-base elasticities of 1.7–2 in many personal income tax systems, indicating potential for significant fiscal drag. It evaluates fiscal drag from 2019 to 2023, considering income growth and legislative changes, and assesses the impact of indexation and reforms.
ResearchOther
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2025-10-14•Latvia•Central Bank of Latvia
The Central Bank of Latvia released a working paper examining the impact of macroeconomic and budget balance shocks on public debt trajectories in the euro area. The study finds that GDP and GDP deflator shocks reduce the debt-to-GDP ratio, while interest rate shocks increase it. Fiscal austerity measures significantly lower the debt ratio, with effects varying based on economic conditions and initial debt levels.
Research
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2025-10-14•Latvia•Central Bank of Latvia
The Central Bank of Latvia published a working paper analyzing "fiscal drag" in 21 European countries, using a microsimulation approach to assess the impact of progressive personal income tax systems on tax revenues. The study finds tax-to-base elasticities around 1.7–2, indicating significant fiscal drag potential, with variations across income sources and distribution. It evaluates fiscal drag from 2019–2023, considering income growth and legislative changes, and the extent of government offset through indexation or reforms.
ResearchOther
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2025-10-14•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) approved the voluntary liquidation of CIBanco, S.A., Institución de Banca Múltiple, following a shareholder request. The Institute for the Protection of Bank Savings (IPAB) is managing the liquidation, ensuring payouts up to 400,000 Investment Units (UDIS) through the Bank Savings Protection Fund. The CNBV confirmed that this event poses no risk to the stability of the banking system.
SupervisionAuthorisations & approvalsOther
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2025-10-14•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) hosted a Burkina Faso delegation to discuss climate risk management and agricultural insurance, supported by the UN Development Program. Meetings with ACAPS President Abderrahim Chaffai focused on establishing an inclusive agricultural insurance system and exploring institutional cooperation. This mission is part of Morocco's South-South cooperation, emphasizing capacity building and expertise sharing among African supervisory authorities.
Policy & regulationCooperationClimate risk and sustainable finance