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2025-10-07•Europe•European Central Bank
The European Central Bank's Working Paper No 3133 analyzes the euro area price Phillips curve using subnational data, finding that inflation's response to labor market slack is relatively flat and diminishes further with national inflation expectations. Covering 168 NUTS-2 regions from 1999 to 2023, the study shows a negative slope that weakens with national expectations and country-time fixed effects. The paper is part of the ECB Working Paper Series and does not reflect the ECB’s official views.
Research
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2025-10-07•Europe•European Central Bank
The European Central Bank reported a decrease in the euro area current account surplus to EUR 326 billion (2.1% of GDP) in the year to Q2 2025, down from EUR 396 billion (2.7% of GDP) a year earlier. Net external assets fell to EUR 1.43 trillion (9.3% of GDP) at end-Q2 2025, primarily due to lower net assets in portfolio debt and negative exchange rate changes. The largest bilateral surplus was with the UK, while the largest deficit was with China.
Data & statisticsBalance of payments and other external statistics
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2025-10-07•Europe•European Central Bank
The European Central Bank's Working Paper analyzes the relationship between bank capital, liquidity, and stability using data from 16,061 banks across 27 countries from 2013 to 2023. It finds that while higher capital and liquidity individually enhance stability, their interaction shows a substitution effect, reducing the marginal stabilizing benefit. The study also highlights that market power, measured by the Lerner index, can negatively impact stability, with variations based on bank and country characteristics.
ResearchCapital adequacyLiquidity riskFinancial stability and systemic risk
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2025-10-07•Europe•European Central Bank
European Central Bank President Christine Lagarde, in a Paris speech, stressed that the euro's international role should be a central policy focus due to the euro area's vulnerability to trade and geopolitical spillovers. She highlighted the lack of capital market depth to absorb inflows effectively, despite some cushioning features like deep foreign exchange markets. Lagarde advocated for completing the Single Market, building a savings and investments union, reducing regulatory fragmentation, and enhancing euro use in trade and cross-border payments.
Policy & regulationReform agendas & prioritiesCross-border cooperationMonetary policy decisions and developments
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2025-10-07•Oman•Central Bank of Oman
The Central Bank of Oman has extended the redemption period for expired banknotes issued before the Sixth Series 2020. Redemption is available through all banks in Oman until 21 September 2026. Claims will not be accepted after this date.
Policy & regulationRules & requirementsCurrency and cash management
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2025-10-07•Slovakia•National Bank of Slovakia
The National Bank of Slovakia's Bank Board approved a decree detailing compliance requirements for insurance and reinsurance authorisation, focusing on cross-border legal form changes. This decree aligns with Act No 309/2023, amending the Insurance Act and removing duplications with the Financial Market Supervision Act. Additionally, the Bank Board approved the issuance of a EUR 100 gold collector coin, available in November 2025.
Policy & regulationRules & requirementsLicensing framework and process
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2025-10-07•Serbia•National Bank of Serbia
The National Bank of Serbia reported significant growth in its IPS NBS instant payments system, with a 24.8% increase in transaction volume and a 37.1% rise in value to RSD 628.7bn in H1 2025. Key services driving adoption include IPS QR code payments, online payments via deep link technology, and mobile number-based account transfers. A new daily record of 484,175 instant payments was set on 15 May 2025.
Data & statistics
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2025-10-07•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission awarded a contract to Vietnam National Cybersecurity Technology Joint Stock Company for VND 12,835,200,000 to replace and add server systems for SSC IT applications. The contract was awarded through a domestic open e-bidding process, with an implementation period of 85 days.
Institutional developmentProcurement
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2025-10-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission warned of phishing emails appearing from Commission Secretary Alice Joy with the domain “mail-guernseyfsc.com”. Official emails use domains ending in “gfsc.gg”. It advised caution with unfamiliar emails and reiterated the importance of following its Cyber Rules and Guidance, 2021, including maintaining cyber security measures and timely IT updates.
SupervisionAlertsCyber resilience
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2025-10-07•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia has launched RENTAS+, a cloud-based enhancement to Malaysia’s real-time gross settlement system, enabling 24/7 interbank funds transfer and settlement. This makes RENTAS the first RTGS system in ASEAN to offer continuous settlement, addressing credit and settlement risks from growing retail instant payments. The system includes a 24/7 automatic liquidity facility and supports gross settlement of DuitNow transactions.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-07•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia and the Asian Development Bank launched the Securities Sector Development Strategy 2025-2035 at the Annual Securities Conference 2025. This 10-year roadmap focuses on sustainability, innovation, inclusion, and resilience in Cambodia's securities markets, prioritizing market infrastructure modernization, investor protection, and carbon neutrality alignment. Deputy Prime Minister Dr. Aun Pornmoniroth stressed coordinated stakeholder implementation to achieve these goals.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-10-07•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC has issued a show cause order to E-Value Phils. Inc., asset valuer for Villar Land Holdings Corp., amid an investigation into Villar Land’s financial statements. E-Value must justify its property valuations for Althorp Land Holdings, Inc., Chalgrove Properties, Inc., and Los Valores Corporation, following inspections for compliance with SEC guidelines. This is part of the SEC's broader probe, which recently resulted in a PHP 12 million fine for Villar Land for late financial statement submissions.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-10-07•Poland•Central Bank of Poland
The Central Bank of Poland reported official reserve assets of EUR 223.3bn (USD 262.5bn) at the end of September 2025, with a EUR 0.2bn decrease from August but a USD 1.5bn increase. Reserve management prioritizes safety and liquidity, investing primarily in Treasury securities, non-government debt, and investment fund units, with some short-term deposits in high-credit banks.
Data & statisticsBalance of payments and other external statistics
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2025-10-07•Russia•Central Bank of Russia
The Central Bank of Russia received 500 reports of potential consumer rights violations via its fast reporting service, leading to over 20 test purchases across 14 financial institutions. Confirmed breaches resulted in supervisory measures, with some cases referred to other authorities. Issues included misleading information, inappropriate advice, and insurers' unreasonable refusals to conclude compulsory motor third-party liability insurance contracts with motorcyclists.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-10-07•Russia•Central Bank of Russia
The Central Bank of Russia and the Russian Ministry of Finance recommend state-owned companies with publicly traded shares enhance relationships with retail investors by focusing on transparency and minority shareholder rights. The guidance advises clearer disclosures on strategy and performance, modernized communication channels, and increased retail investor involvement in governance, including board nominations and establishing a Minority Shareholder Committee.
Policy & regulationGuidance & interpretationCorporate governance
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2025-10-07•Russia•Central Bank of Russia
The Central Bank of Russia has approved a list of systemically important credit institutions, which account for nearly 80% of the Russian banking sector's total assets. The list includes major banks such as AO UniCredit Bank, VTB Bank (PJSC), Sberbank, and others, as per Ordinance No. 5778-U.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-10-07•Russia•Central Bank of Russia
The Central Bank of Russia has appointed Ruslan Bulatov as Director of its Information Technology Department, effective 7 October 2025. Bulatov previously served as Deputy Director of the Department of Banking Regulation and Analytics and has over five years of experience at the Bank of Russia.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-07•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission (SEC) advises holders of Siamnuwat Co., Ltd. bond series SNW231A, SNW224A, and SNW233A to review information and vote at an e-meeting on proposed changes to repayment terms. Key proposals include extending maturity by 18 months, partial principal repayments, interest rate adjustments, and waivers on financial covenants. The SEC emphasizes the importance of bondholders assessing the implications of these changes and seeking further information before voting.
SupervisionInterventionsCorporate governance
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2025-10-07•Europe•European Payments Council
The European Payments Council (EPC) has issued version 1.1 of the 2025 EPC payment scheme rulebooks, effective 5 October 2025, with a key update revising the cut-off date for unstructured address formats in payment messages to 15 November 2026. This aligns with the November 2026 Swift Standards MX Release. No other business or operational rules have been altered from version 1.0.
Policy & regulationRules & requirementsPayments and payment systems
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2025-10-07•Sweden•Finansinspektionen
Sweden’s Financial Supervisory Authority (Finansinspektionen) proposes repealing regulations on quarterly statistics reporting for certain securities firms. The authority argues that the information is already available through other regulatory reporting, reducing the need for a separate framework.
Policy & regulationRules & requirementsRegulatory reporting
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2025-10-07•Eswatini•Central Bank of Eswatini
Central Bank of Eswatini Governor Dr. Phil Mnisi emphasized cybersecurity's importance to financial trust and stability, announcing new guidelines for cybersecurity and cloud computing standards for financial institutions. He highlighted cybercrime risks, including financial losses and systemic threats, and noted efforts to strengthen supervisory frameworks for banks and fintechs. Prime Minister Russell Mmiso Dlamini underscored cybersecurity as a national priority.
Policy & regulationRules & requirementsCyber resilience
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2025-10-07•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's October 2025 Households Expectations Survey shows improved consumer sentiment to a neutral 0.0 index from -6.4, with a positive macroeconomic outlook. The Economic Condition index rose to 3.3, the Family Financial Situation index improved to -9.3, and Family Income Sentiment increased to 6.0. Forward-looking indicators show optimism for the coming months, with expectations of easing price levels through November 2025.
Data & statisticsEconomic data and developments
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2025-10-07•Iceland•Central Bank of Iceland
The Central Bank of Iceland will release a statement from its Monetary Policy Committee on 8 October 2025 at 08:30, followed by a webcast press conference at 09:30 led by Governor Ásgeir Jónsson and Deputy Governor Þórarinn G. Pétursson.
Monetary policyOtherMonetary policy decisions and developments
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2025-10-07•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) proposed refocusing Section 8 enforcement actions and matters requiring attention on practices that could cause material financial harm or increase bank failure risk. The proposal redefines "unsafe or unsound practice" and introduces a new definition for "matter requiring attention" (MRA), replacing "Matters Requiring Board Attention." This initiative is part of broader supervision reforms, including potential changes to the CAMELS rating system and reevaluation of supervisory procedures.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-10-07•United States•Federal Deposit Insurance Corporation
The FDIC and OCC issued a joint notice of proposed rulemaking to enhance supervision and enforcement of material financial risks. The proposal aims to define "unsafe or unsound practice" under section 8 of the Federal Deposit Insurance Act and revise the supervisory framework for matters requiring attention. It seeks to establish uniform standards for enforcement authority and supervisory communications for all FDIC-supervised institutions.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-10-07•United States•Federal Deposit Insurance Corporation
The Office of the Comptroller of the Currency and the FDIC proposed a rule to eliminate reputation risk from supervisory programs, prohibiting adverse actions based on it. The FDIC updated its guidance and examination manuals to align with this proposal, ensuring institutions are not criticized or required to act based on political, social, cultural, or religious views. The FDIC will collaborate with other federal agencies to remove reputation risk references from interagency materials.
Policy & regulationRules & requirements
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2025-10-07•Albania•Bank of Albania
The Bank of Albania announced the first euro transaction under the Single Euro Payments Area (SEPA), highlighting readiness among 11 commercial banks to offer SEPA services. Governor Gent Sejko emphasized the alignment with EU standards, reduced fees, and significant cost savings, including an estimated EUR 20 million in first-year savings. The next phase focuses on full SEPA utilization, user education, and further digitalization of payments.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-10-07•United States•Federal Reserve Board
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman outlined priorities for modernizing community bank supervision at the 2025 Community Banking Research Conference. Key initiatives include revising the CAMELS ratings framework, adjusting the community bank leverage ratio, and improving regulatory treatment for mutual banks. Bowman emphasized reducing compliance burdens, reassessing asset-size thresholds, regulatory tradeoffs, and merger review processes.
SupervisionSupervision approach, priorities & toolkitOther
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2025-10-07•Canada•Canada Deposit Insurance Corporation
The Canada Deposit Insurance Corporation (CDIC) presented its 2025 Annual Report, detailing progress on depositor trust, resolution readiness, and organizational strength. Key achievements include enhanced depositor information clarity, improved risk assessment and resolution planning, and advancements in enterprise technology and cybersecurity. Public awareness of deposit protection reached 68%, surpassing the target range.
OtherOperational excellence
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2025-10-07•Chile•Chile Financial Market Commission
Chile’s Financial Market Commission sanctioned Empresas IANSA S.A. directors Jade Moore and Philip Murnane, fining them UF 7,200 each for insider trading violations under Article 165(1) of Law No. 18,045. The CMF determined they traded shares while possessing inside information about the sale process of Empresas IANSA S.A.'s pet food business.
EnforcementInvestigations & enforcement actions
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2025-10-07•Chile•Chile Financial Market Commission
Chile’s Financial Market Commission (CMF) issued a public alert that BAM ASSET MANAGEMENT SPA, FINCONCHILE, and TMGM are not registered or authorised to provide regulated financial services in Chile. The CMF advised investors to verify registration and check for complaints via its website, which includes a Fraud Alerts Page for additional guidance and alerts on unregulated entities.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-10-07•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) released a speech by CEO Tolga Yalkin, highlighting structural challenges in the province's credit union sector and proposing two resilience pathways: consolidation into fewer, larger entities or a federated provincial model. The speech linked these challenges to global prudential shifts, including the Basel Committee's 2024 update, emphasizing operational resilience and climate-related risks. BCFSA will clarify expectations, requiring credit unions to align governance, capital, and controls with their risk profiles.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-10-07•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway issued a final report and corrective order against Fisher Investments Luxembourg SARL, mandating communication recording by its Norwegian tied agents. The NFSA rejected the firm's argument for applying Luxembourg rules, affirming Norwegian requirements apply equally to branches and tied agents. While assessing remuneration arrangements, the NFSA chose not to impose a corrective order, citing existing controls, and informed Luxembourg’s Commission de Surveillance du Secteur Financier of the decision.
SupervisionInterventionsSupervision process and methodologies
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2025-10-07•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation proposed a rule to eliminate "reputation risk" from supervisory programs, preventing examiners from taking adverse actions based on this criterion. The proposal prohibits agencies from influencing banks to close accounts or take actions based on political, social, cultural, or religious views, or lawful activities perceived as reputation risks. This responds to concerns in Executive Order 14331 about restricting access to financial services.
Policy & regulationRules & requirements
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2025-10-07•United States•Office of the Comptroller of the Currency
Comptroller Jonathan V. Gould, as an FDIC board member, prioritized resolution capabilities, Deposit Insurance Fund management, and supervisory tailoring for community banks. He emphasized clearer premium-setting methodologies, transparency in FDIC actions, and modernizing liquidity-risk analysis. Gould also advocated for cultural reforms, streamlined deposit insurance applications, and support for state bank preemption rights.
Policy & regulationReform agendas & prioritiesOperational excellence
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2025-10-07•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued a joint notice of proposed rulemaking to define "unsafe or unsound practice" under the Federal Deposit Insurance Act. The proposal aims to enhance clarity in supervision by prioritizing material financial risks and establishing uniform standards for supervisory communications and enforcement actions.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-10-07•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has urged platform superannuation trustees to enhance member investment protection and improve onboarding, monitoring, and outcomes. APRA, overseeing trustees responsible for nearly 95% of platform assets, warns of increased supervision and potential regulatory action, coordinating with the Australian Securities and Investments Commission on enforcement and industry discussions.
SupervisionInterventionsSupervision process and methodologies
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2025-10-07•Egypt•Central Bank of Egypt
The Central Bank of Egypt announced that Egypt's current account deficit decreased to USD 15.4 billion in FY 2024/2025, with the capital and financial account showing a net inflow of USD 10.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-10-07•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva attended the OECD Latin America Corporate Governance Roundtable in Santiago, Chile, discussing capital market development and regulatory proportionality. Silva emphasized CNV's adaptable regulatory framework and Argentina's efforts to join the OECD. The roundtable covered ESG ratings, corporate bond issuer guidelines, and revised governance guidelines for state-owned enterprises.
Policy & regulationCooperationCorporate governance
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2025-10-07•Vietnam•State Bank of Vietnam
At a digital payments workshop, State Bank of Vietnam's Deputy Governor Pham Tien Dung prioritized banking digital transformation, focusing on convenience, safety, cost reduction, and benefits for households and businesses. He emphasized interoperable payment systems in public transport and integrating existing methods like bank cards and e-wallets. He also addressed transaction fees, emerging technologies, and the importance of cybersecurity and risk management as digital payments expand.
Policy & regulationReform agendas & prioritiesPayments and payment systemsMarket development
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2025-10-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam, at the Banking Academy's 2025–2026 academic year opening, emphasized implementing Resolution 71 on education, enhancing lecturer capabilities, and advancing research and technology. Deputy Governor Nguyen Ngoc Canh highlighted the importance of digital transformation, international cooperation, and financial autonomy. Scholarships totaling nearly VND 6 billion were awarded to students for academic excellence.
Institutional developmentTechnology & data transformationOther
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2025-10-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam highlighted the "Freshman Welcome 2025" event, focusing on developing human resources in the AI era. A cooperation agreement was signed between Banking Times and the Banking Academy to facilitate joint policy communication, training, and research, including AI software tools for students. The event also noted a reduction of 3,445 staff across 28 banks, attributed to increased focus on technology, AI, and big data.
Institutional developmentCooperation & capacity buildingOther
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2025-10-07•Vietnam•State Bank of Vietnam
Governor Nguyen Thi Hong of the State Bank of Vietnam spoke at a ceremony where Petrovietnam and Vietcombank signed credit agreements over USD 1 billion for the Block B - O Mon gas-to-power chain. Vietcombank will offer medium- to long-term credit for gas block development and pipeline projects, under a framework credit arrangement from March 2024. The Governor stressed adherence to Politburo Resolution No. 70-NQ/TW on energy security, urging compliance with risk management and legal requirements.
Policy & regulationGuidance & interpretationLending
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2025-10-07•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance warned about unauthorized individuals falsely claiming to represent it and requesting information through unofficial channels. Official communications occur only via its website and official social media. Recipients of suspicious contacts should avoid sharing personal data and report incidents through the TAD platform.
SupervisionAlertsFraud and scams
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2025-10-07•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) awarded the "Aquí Sabemos de Pensiones" seal to Casa Brugal for its educational initiative on the Dominican pension system. The program included pension education sessions and personalized support, covering topics like affiliation, insurance, and retirement savings, reaching over 70% of Casa Brugal's staff. SIPEN also introduced complementary pension plans for additional contributions via electronic payment channels.
Financial literacy & educationFinancial literacy and education
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2025-10-07•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) released its annual reports on 2024 corporate governance and directors’ remuneration, noting stable adherence to the Good Governance Code and increased female board representation. Compliance reached 88.2%, with gaps in recommendations for separate committees and share-linked remuneration. Average board remuneration rose 5.3% to EUR 4.3 million, with executive director pay at 32.9 times average employee remuneration.
SupervisionRisk monitoring & watch pointsCorporate governance
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2025-10-07•Denmark•National Bank of Denmark
The National Bank of Denmark reported Danish direct investments abroad hit a record DKK 1,910 billion at the end of 2024, with the United States as the largest destination. Foreign direct investments in Denmark remained stable at DKK 1,081 billion, with the U.S. also the largest ultimate investor at DKK 193 billion. Key contributors to outward investments included Novo Nordisk, A. P. Møller – Mærsk, Ørsted, DSV, and Carlsberg, accounting for nearly 30% of the total.
Data & statisticsBalance of payments and other external statistics
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2025-10-07•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced amendments to two entries under the ISIL (Da’esh) and Al-Qaida UN sanctions regime, following updates to the UN Security Council sanctions list. Abd el Kader Mahmoud Mohamed el Sayed and Aris Sumarsono remain designated and subject to an asset freeze, with designations reflected on the UK Sanctions List as applied in the Isle of Man. Institutions must freeze assets immediately upon identifying a match and report any breaches or blocked transactions to the Financial Intelligence Unit.
Policy & regulationRules & requirementsSanctions list update
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2025-10-07•Moldova•National Bank of Moldova
Governor Anca Dragu of the National Bank of Moldova attended the OECD International Network on Financial Education meeting, emphasizing Moldova's financial literacy agenda and modern payment infrastructure. She highlighted Moldova's integration into the Single Euro Payments Area and the expansion of the MIA instant payments system. National initiatives under the National Financial Education Programme, including campaigns and educational platforms, will be integrated into the developing National Financial Inclusion Strategy.
Policy & regulationCooperationFinancial literacy and education
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2025-10-07•Moldova•National Bank of Moldova
The National Bank of Moldova reported official reserve assets of EUR 5,163.69 million as of 30 September 2025, an increase of EUR 32.19 million from the previous month. The rise was primarily due to Ministry of Finance receipts, including budget support from the European Commission, and net inflows from licensed banks' foreign-currency reserves. However, cumulative figures from end-2024 show a decrease in official reserve assets and net foreign assets.
Data & statisticsBalance of payments and other external statistics
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2025-10-07•Moldova•National Bank of Moldova
The National Bank of Moldova's draft decision amends its Regulation on emergency liquidity assistance, emphasizing enhanced reporting, collateral management, and documentation. Changes include mandatory encrypted email submissions, on-site inspections, refined collateral eligibility, and new rules for collateral substitution or early repayment. It also introduces templates for cash flow forecasts, funding plans, and model contracts.
Policy & regulationRules & requirementsLiquidity risk
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2025-10-07•Moldova•National Bank of Moldova
The National Bank of Moldova reported that Governor Anca Dragu met with counterparts from Bosnia and Herzegovina and North Macedonia to discuss financial sector developments and regional collaboration on financial education and inclusion. The meeting highlighted Moldova's progress in European integration, particularly its accession to the Single Euro Payments Area (SEPA), facilitating faster and low-cost payments. The governors also committed to ongoing dialogue through international platforms like the OECD's International Network on Financial Education.
Policy & regulationCooperationCross-border cooperationFinancial inclusion
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2025-10-07•United Arab Emirates•Dubai Virtual Assets Regulatory Authority
The Dubai Virtual Assets Regulatory Authority (VARA) issued enforcement notices against 19 firms for operating outside its regulatory perimeter, imposing fines between AED 100,000 and AED 600,000 for unlicensed virtual asset activities and breaches of Marketing Regulations. Sanctions include cease-and-desist orders, directing firms to halt operations and promotions of unlicensed services. VARA will continue to identify and investigate unlicensed activities.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-10-07•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank and the Regional Government Securities Market have launched a Retail Bond Initiative to enhance household access to government securities in the Eastern Caribbean Currency Union. It addresses low retail participation by reducing the minimum investment to XCD 500 and capping investments at XCD 50,000, offering a 4.25% annual interest rate over a two-year term. The Governments of Grenada and Saint Christopher (St Kitts) and Nevis will issue the inaugural retail instruments.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-10-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has licensed Goldman Sachs International to operate in Kuwait as an investment adviser and underwriting agent. This move aligns with the CMA's strategy to enhance market attractiveness and efficiency, supporting Kuwait's Vision 2035 and regulatory goals on transparency, fairness, and investor protection.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-06•Pakistan•State Bank of Pakistan
The State Bank of Pakistan clarified that recent revisions to trade data will not significantly affect the central bank's trade data and current account balance figures. SBP emphasized that its trade data is primarily based on trade payments data from banks, not directly on revised trade statistics, and minor revisions may occur as per usual practice.
Policy & regulationGuidance & interpretationBalance of payments and other external statistics
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2025-10-06•Global•Egmont Group
The Egmont Group announced the Global FIU Leadership Conference in Bern, hosted by ECOFEL and Switzerland’s Financial Intelligence Unit, as the largest FIU training and leadership event outside Egmont Group Plenaries, focusing on AI, Web 4.0, privacy-preserving encryption, and future FIU developments.
Policy & regulationCooperationAML and CFTArtificial intelligence
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2025-10-06•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced Montenegro's operational integration into the Single Euro Payments Area (SEPA), with the first SEPA transactions commencing on 7 October 2025. This integration facilitates faster, cheaper, and safer cross-border payments in EUR.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-10-06•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro reported on an international seminar aimed at enhancing the role of internal auditors in the central banks of Montenegro and the Netherlands.
Institutional developmentCooperation & capacity buildingAuditing
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2025-10-06•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has launched a public consultation on draft rules for the investor protection system. The rules outline criteria for insured events, data submission for protected claims, and valuation of financial instruments. The draft was adopted at the Authority’s 147th session under Montenegro’s Capital Market Law.
Policy & regulationRules & requirementsOther
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2025-10-06•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has initiated a public consultation on draft rules for the Investor Protection Fund, addressing membership, contribution calculations, compensation claims, and member supervision. These rules were adopted at the Authority's 147th session under the amended Capital Market Law.
Policy & regulationRules & requirementsOther
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2025-10-06•Italy•Bank of Italy
The Bank of Italy, with the European Central Bank and World Bank, will host the fourth conference on "Trade, value chains and financial linkages in the global economy" in Rome on 15–16 December 2025. Topics include trade policies, global value chains, multinational corporations, and digital trade, featuring keynote lectures by Meredith Crowley and Alberto Cavallo. A call for papers has been issued, with previous conference papers available online.
ResearchClimate risk and sustainable finance
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2025-10-06•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) has issued a recommendation establishing standards for using the POLSTR® rate in new bond issuances, aligning with benchmark reform efforts. This recommendation was adopted by the Steering Committee of the National Working Group on Benchmark Reform and approved following public consultations.
Policy & regulationGuidance & interpretationFinancial benchmarks
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2025-10-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority (CMA) hosted United Nations Human Rights Council expert Attia Waris, discussing its regulatory role in capital markets, investor protection, and market development. The CMA emphasized its commitment to financial transparency and adherence to legal frameworks in public communications. Waris will compile a report for the Human Rights Council's March 2026 session.
Policy & regulationCooperationOther
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2025-10-06•Israel•Bank of Israel
The Bank of Israel reported that Israel's foreign exchange reserves reached USD 231,880 million at the end of September 2025, a USD 1,560 million increase from August, representing 41.3% of GDP. The rise was primarily due to a revaluation of USD 2,353 million, partially offset by USD 774 million in government foreign exchange activity.
Data & statisticsBalance of payments and other external statistics
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2025-10-06•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus issued a notice urging payment service users and electronic money account holders to verify the legal status of institutions via its official online registers. The notice highlights the importance of checking for license revocations, with two electronic money licenses already revoked in 2025.
SupervisionAlertsLicence withdrawal
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2025-10-06•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's Annual Report 2025 highlights progress in capability-building, organisational redesign, and inflation control within the Monetary Policy Committee's target. Key developments include the implementation of the Deposit Takers Act 2023, launch of the Depositor Compensation Scheme, and leadership changes with Adrian Orr and Neil Quigley's departures.
Institutional developmentMandate & organizational structureOther
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2025-10-06•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) will launch its 2024 Insurance Market Performance Report and inaugurate its new headquarters, TIRA BIMA HOUSE, on 16–17 October 2025 in Dodoma. The report provides an overview of the insurance market, highlighting growth statistics, service providers, and new products, while addressing sector challenges and opportunities. TIRA BIMA HOUSE aims to enhance supervisory activities and modernize TIRA's operations.
ResearchOther
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2025-10-06•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's National Commission on Securities and Stock Market has updated its public list of dubious investment projects, adding Exo Capitals, iTrade, and Stakhova invest for signs of fraud or legal violations. The list now includes 450 projects and highlights red flags like unclear financial forecasts and inflated profit promises.
SupervisionAlertsSanctions list update
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2025-10-06•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank reported a 27% increase in lending via Dutch fintech platforms, reaching EUR 4.4 billion in 2024, with significant growth in financing to small and medium-sized enterprises (SMEs). Fintechs' share of the SME lending market rose to 2.8%, with loans under EUR 25,000 exceeding an 8% market share. Intermediary-only platforms accounted for EUR 3.7 billion of fintech loans, with nearly half funded by private households.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-06•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved the National Environmental Recycling Company's request to double its capital from SAR 116.16 million to SAR 232.32 million by issuing one bonus share per existing share. The increase will be funded by transferring amounts from the share premium account, retained earnings, and statutory reserve. An extraordinary general assembly must be held within six months, and the company must adhere to all regulatory requirements.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-06•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Munawla Cargo Company's capital increase from SAR 20 million to SAR 30 million via a bonus share issue funded from retained earnings. This involves issuing one bonus share for every two existing shares, raising outstanding shares from 2 million to 3 million. An extraordinary general assembly must be held within six months, and all regulatory requirements must be met.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-06•West Africa•Central Bank of West African States
The West African Economic and Monetary Union Council of Ministers approved measures on macroeconomic surveillance, statistics, and regional capital markets, supporting BCEAO decisions to strengthen the union's external position. The Council adopted a report projecting growth from 6.3% in 2024 to 6.7% in 2025, with inflation expected to decrease to 1.2% in 2025. Additionally, the Council approved financial statements for the UEMOA financial markets authority and designated Burkina Faso’s Minister of Economy and Finance, Aboubakar Nacanabo, as chair for two years starting 7 October 2025.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2025-10-06•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendence of Banks, led by Superintendent Roberto Romero von Buchwald, stressed proportional, data-driven supervision of unregulated financial service providers at the Regional Policy Dialogue for the Financial Sector. Romero advocated "same activity, same risk, same rules" to manage emerging risks and foster innovation. Key measures include mandatory registration, tiered licensing, governance requirements, cybersecurity standards, and enhanced regional coordination.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-10-06•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) and the Commodity Futures Trading Regulatory Agency (Bappebti) finalized transferring regulation and supervision of financial derivatives with securities as the underlying asset from Bappebti to OJK. This transition, under the Law on the Development and Strengthening of the Financial Sector, extends OJK's remit to include forwarding customer orders to overseas futures exchanges. OJK will continue joint supervision with Bappebti and Bank Indonesia for certain commodity futures products.
Policy & regulationImplementation, projects & pilotsOrganizational structure
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2025-10-06•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia met with representatives from major American and European investment firms to discuss Georgia's stable macroeconomic conditions and strong financial sector outlook. The discussions highlighted the country's sound financial indicators and sustained price stability, with investors expressing interest in expanding their investments in Georgia.
Monetary policyMonetary policy assessments & outlooksCross-border cooperation
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2025-10-06•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan and the National Telecommunication Corporation signed a memorandum of understanding to enhance cybersecurity cooperation and information sharing. The MoU outlines joint efforts on threat mitigation, digitalisation, capacity building, and compliance practices aligned with ISO 27001 standards. Regular engagement and coordination on mutual interests are planned.
Policy & regulationCooperationCyber resilience
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2025-10-06•Europe•European Banking Authority
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority warned about high risks and limited legal protections of crypto-assets. They advise verifying provider authorisation in the EU and securing wallets. MiCA establishes an EU-wide supervisory regime effective 30 December 2024, with some Member States allowing a transitional period until 1 July 2026.
SupervisionAlertsConsumer and investor protection
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2025-10-06•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has launched a week-long World Investor Week 2025 public education campaign focused on strengthening investor education and protection, with emphasis on online safety for retail investors. The campaign will share daily “smart investor” tips on technology and digital finance, artificial intelligence, fraud and scam prevention, and crypto assets, including guidance on digital engagement risks, assessing “finfluencers”, using authorised platforms, verifying AI-enabled communications, and applying practical anti-scam measures.
Financial literacy & educationConsumer and investor protectionFinancial literacy and education
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2025-10-06•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance and Hanfa introduced "PutNaTržište," a sandbox-style programme to educate companies on capital markets funding with regulatory and expert mentoring. It aims to enhance firms' readiness for public offerings and improve business transparency without regulatory costs. This is part of Croatia's Strategic Framework for capital markets development, with ongoing consultations for launch conditions.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-10-06•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance submitted the 2026 draft state budget to Parliament, projecting real GDP growth of 2.4% and further debt reduction amid international uncertainty. Key measures include income tax reform, VAT reductions for border islands, and pension changes, alongside a public investment programme of EUR 16.7bn. The budget forecasts nominal GDP rising to EUR 260.9bn, inflation easing to 2.2%, and unemployment at 8.6%.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-10-06•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) released its 2024-25 report and 2025-26 supervision plan for life and health insurance agents, emphasizing improved oversight for fair consumer outcomes. The plan focuses on enhanced reporting, industry collaboration, and sharing supervision trends. FSRA identified misconduct like deception and document falsification, leading to penalties and efforts to ensure agents adhere to best practices.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologiesConsumer and investor protection
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2025-10-06•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario issued a Notice of Proposal for enforcement against Daumier Financial Services Inc., Carlos Daumier De Zayas Benitez, and Liset Jimenez Rodriguez, alleging false or misleading statements in insurance solicitation. Proposed penalties include CAD 800,000 for Daumier Financial and CAD 400,000 each for De Zayas Benitez and Jimenez Rodriguez. The parties have requested a hearing before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actions
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2025-10-06•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) has launched an Open Finance Department to implement an open finance model, starting with open banking. Led by Claudia Cánepa Silva, the department will develop a roadmap with oversight from a new committee. The initiative involves regulatory reviews, collaboration with other authorities, and World Bank technical assistance, with the open banking phase expected to take two years.
Institutional developmentMandate & organizational structureOpen banking and finance
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2025-10-06•France•Bank of France
The Bank of France and CNES have initiated Earth-observation data service demonstrations under the France 2030 investment plan to provide earlier economic signals for French public institutions. Conducted by consortia including Kermap and Capgemini, these demonstrations will address needs from entities like the Bank of France and the Ministry of Agriculture, focusing on agriculture, land-use, and industrial indicators. Feedback from participating institutions will refine these solutions after nine months.
Policy & regulationImplementation, projects & pilotsOther
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2025-10-06•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake banking login screens, and phishing messages linked to banks like The Bank of East Asia, Welab Bank, and HSBC. HKMA stressed that banks won't send SMS or emails with 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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2025-10-06•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has released a new service schedule for its Coin Collection Programme's "Coin Carts" from 27 October 2025 to 4 January 2026. Since its inception in 2014, the programme has facilitated 1.4 million transactions, collecting 1,072 million coins valued at HKD 1,727 million. The Coin Carts operate across Hong Kong's 18 districts, allowing users to exchange coins for banknotes or add value to stored value facilities, prioritizing convenience and minimal disruption.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-06•Bulgaria•National Bank of Bulgaria
The Bulgarian National Bank adopted an ordinance detailing the licensing process for credit servicers, including ongoing activity requirements and information from credit purchasers and institutions. This ordinance, under Bulgaria’s Law on Credit Servicers and Credit Purchasers, aligns with European Banking Authority guidelines. It outlines documentation for applicants, management suitability assessments, reporting requirements, and administrative fees.
Policy & regulationRules & requirementsLicensing framework and process
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2025-10-06•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria has amended its rules on payment accounts, operations, and its licensing and oversight framework to prepare for euro adoption on 1 January 2026 and align with new EU requirements. Changes include repealing national provisions for credit transfers and direct debits in non-euro currencies, aligning incident reporting with EU standards, updating supervisory powers and documentation requirements for payment institutions, converting settlement-related fees to euros, and removing provisions tied to the BNB-operated RTGS system RINGS.
Policy & regulationRules & requirementsPayments and payment systems
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2025-10-06•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing fast payment systems (FPS) pricing and its impact on participation, adoption, and welfare, especially in person-to-merchant payments. The study highlights that current pricing models often result in suboptimal usage and that zero-fee models require external subsidies or alternative revenue streams. It also notes significant cross-country variations in FPS pricing structures, with examples from Türkiye, Brazil, Australia, and the United Kingdom.
ResearchPayments and payment systems
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2025-10-06•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency has introduced a new banking law to manage insolvent banks, aligning with international standards and addressing national specifics. It emphasizes depositor protection, systemic risk reduction, and minimal budget use, placing recovery responsibility on shareholders. Key measures include enhanced early intervention tools, mandatory recovery plans, tightened capital requirements for systemically important banks, and a mechanism for banks to reimburse state losses in exceptional cases.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-10-06•India•Reserve Bank of India
The Reserve Bank of India has amended its Foreign Exchange Management rules to include International Financial Services Centres (IFSCs) within the scope of foreign currency accounts held by Indian residents. Exporters in India can now maintain foreign currency accounts abroad for export realisation and advance remittances, with specific repatriation timelines for funds held in IFSCs and other jurisdictions. The amendment also defines IFSCs as per the International Financial Services Centres Authority Act, 2019.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-10-06•Qatar•Qatar Central Bank
Qatar Central Bank Governor H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani met with India's Minister of Commerce and Industry H.E. Shri Piyush Goyal to discuss enhancing bilateral banking and finance cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-10-06•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported a 17% increase in complaints in Tamaulipas from January to August 2025, totaling 3,270 cases. The claimed amount was MXN 133.1 million, with MXN 7.9 million recovered. Credit and debit cards, along with personal loans, were the main sources of complaints, with unrecognised transactions and debt-collection issues as key drivers.
Data & statisticsComplaints and dispute resolution
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2025-10-06•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) met with industry representatives to discuss feedback on Public Consultation No. 02/2025, concerning draft rules for mutualistic property protection operations. The meeting, held on 3 October in São Paulo, focused on proposals related to the regulatory implementation of Complementary Law No. 213/2025. SUSEP is now analyzing the contributions received.
Policy & regulationCooperationOther
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2025-10-06•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan addressed a complaint regarding real estate in Hisor transferred to its ownership from Tojprombank. The property was collateral for a lender-of-last-resort loan after Tojprombank defaulted, with legal challenges dismissed. The bank clarified the asset's transfer followed a court order after claims of ownership were rejected.
Other
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2025-10-06•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities & Commodities Authority organized outreach programmes during World Investor Week 2025 to enhance investor protection and financial literacy. The initiatives focused on investment risks, financial sustainability, digital assets, fraud prevention, and investor rights. The SCA aims to collaborate with domestic and international partners to promote best practices and safeguard investors' interests.
Financial literacy & educationConsumer and investor protectionFinancial literacy and education
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2025-10-06•Spain•Bank of Spain
The Bank of Spain participated in the 11th Financial Education Day at the National Securities Market Commission's Barcelona headquarters, featuring a discussion between Deputy Governor Soledad Núñez and CNMV President Carlos San Basilio.
Financial literacy & educationFinancial literacy and education
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2025-10-06•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) announced its investor education and protection programme for GIFT IFSC during IOSCO World Investor Week 2025, focusing on technology, digital finance, AI, and fraud prevention. Plans include publishing a "Stewardship Code" and a "Consumer Charter." The chairperson highlighted the significant retail user base and invited stakeholder proposals for next-generation reforms.
Financial literacy & educationConsumer and investor protection
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2025-10-06•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam, in collaboration with the Brunei Darussalam Capital Market Association, released an investor education guide during World Investor Week. The guide emphasizes informed investment decisions, risk tolerance, diversification, and the importance of consulting licensed professionals. It also highlights the benefits of professionally managed funds and the need for regular portfolio reviews.
Financial literacy & educationFinancial literacy and education