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2025-10-01•Georgia•National Bank of Georgia
The National Bank of Georgia met with China's Cross-Border Interbank Payment System (CIPS) at SWIFT's SIBOS conference to review cooperation and discuss expanding Georgian banks' access to CIPS. Initiated in summer 2025, the collaboration aims to diversify cross-border payment channels and facilitate yuan-denominated transfers. CIPS, connecting over 4,900 institutions globally, anticipates increased participation from Georgian banks.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-10-01•United States•National Credit Union Administration
The National Credit Union Administration (NCUA) will remain operational during the federal government shutdown, ensuring individual accounts are federally insured through the National Credit Union Share Insurance Fund. The NCUA highlighted potential impacts on credit unions with federal employees in their memberships and advised on planning for member inquiries, service interruptions, and continuity issues. Credit unions are encouraged to review NCUA Letter to Credit Unions 11-CU-05 for further guidance.
Policy & regulationGuidance & interpretationOther
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2025-10-01•United States•National Credit Union Administration
Federal regulators, including the National Credit Union Administration, reminded lenders they can issue loans under federal flood insurance statutes without requiring federal flood insurance when the National Flood Insurance Program is unavailable. Lenders must still conduct flood determinations, provide accurate borrower notices, and comply with flood insurance regulations. The guidance also covers risk management during the lapse and the use of private flood insurance.
Policy & regulationGuidance & interpretationLending
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2025-10-01•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority took part in a Sept. 30 graduation ceremony for 51 Certified Financial Market Professionals and 18 graduates of a specialized postgraduate program in Islamic finance. The event was held with the Banking Training Institute and the Higher School of Commerce as part of their joint market training partnership.
Policy & regulationImplementation, projects & pilotsOther
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2025-10-01•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority issued a notice on the publication of listed companies’ first-half 2025 financial statements under Regulation No. 2000-02.
Policy & regulationGuidance & interpretationDisclosures
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2025-10-01•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) met with the Federal Emergency Management Agency Review Council at the White House as the National Flood Insurance Program (NFIP) faced imminent expiration. The NAIC advocated for a 10-year NFIP reauthorization to ensure market stability, highlighting the need for mitigation initiatives, accurate flood mapping, and the expansion of private flood insurance options.
Policy & regulationReform agendas & prioritiesOther
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2025-10-01•Europe•European Banking Authority
The European Banking Authority's 2026 Work Programme outlines three priorities and 21 actions to enhance the EU regulatory framework's simplicity and efficiency. Key focuses include developing a resilient single market rulebook, improving risk assessment tools, and addressing technological innovation. The programme also introduces new oversight functions for third-party providers, crypto-assets, and initial margin models, with anti-money laundering responsibilities transitioning to the new Anti-Money Laundering Authority.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-10-01•Lithuania•Bank of Lithuania
The Bank of Lithuania reported a 11.8% increase in services exports to EUR 6.2 billion and a 12.2% rise in imports to EUR 3.7 billion for Q2 2025, resulting in a services surplus of EUR 2.5 billion, or 12.3% of GDP. Transport services dominated both exports and imports, with the largest surplus in road transport services. The Bank also revised services data from Q1 2024 to Q1 2025.
Data & statisticsBalance of payments and other external statistics
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2025-10-01•Portugal•Bank of Portugal
The Bank of Portugal reported that Maastricht public debt rose by EUR 0.3 billion to EUR 288.4 billion in August 2025, driven by increased loans and savings certificates. This was partially offset by declines in debt securities and Treasury certificates. Public administrations’ deposit assets increased by EUR 0.3 billion, resulting in a net public debt decrease of EUR 0.1 billion to EUR 259.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-10-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Bulletin 35 of 2025, certifying October 2025 per-gram prices for gold, silver, and platinum for royalty settlements. The certification follows specific legal frameworks and uses LBMA Gold and Silver Prices as inputs for average calculations, with relevant disclaimers included.
Policy & regulationImplementation, projects & pilotsFinancial benchmarks
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2025-10-01•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has updated its Datacube to include complaints data up to 31 August 2025 and will shift to monthly updates from October 2025, enhancing timely insights for consumers and financial firms.
Data & statisticsComplaints and dispute resolution
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2025-10-01•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance, with the European Public Prosecutor’s Office and Greece’s Independent Authority for Public Revenue, aims to combat customs and tax fraud, including VAT fraud. The Customs NextGEN programme, funded with over EUR 280 million, will modernise Greek customs by 2029 with digital surveillance, a container-targeting hub, and a fully digitised customs IT system. Discussions with EPPO also covered improving fraud detection and reporting, assigning specialised investigators, and enhancing data exchange and interoperability.
Policy & regulationImplementation, projects & pilotsOther
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2025-10-01•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance, with the Ministry of Digital Governance and the Independent Authority for Public Revenue, completed the “Digital Transactions B” programme application process. The EUR 61.2 million initiative, funded by the Recovery and Resilience Facility, aids SMEs in adopting digital invoicing and electronic transaction tools. The programme received 151,469 applications, with the highest interest in EFT/POS and e-invoicing services.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-10-01•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) will form a Technical Working Team to study the pension system and implement open finance, with support from the World Bank. Superintendent Sergio Espinosa reported a decline in pension funds' GDP contribution from 25% in 2019 to 10.3% in 2025 due to withdrawals. The SBS also plans to open new offices and noted progress on a bill for a national Financial Education Week.
Policy & regulationImplementation, projects & pilots
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2025-10-01•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators has released a draft regulation allowing financial and insurance firms to become Pension Fund Administrator Companies under the Modernization of the Peruvian Pension System Law. The proposal aims to increase competition by broadening eligible entities, including banks and insurance companies, which must meet specific prudential and risk management criteria. The draft also outlines corporate governance expectations and an alternative entry process via tender for new affiliates.
Policy & regulationRules & requirementsLicensing framework and process
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2025-10-01•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has informed registrable superannuation entity licensees of the revocation of Reporting Standard SRS 331.0 Services. This follows the replacement of Prudential Standard SPS 231 Outsourcing with Prudential Standard CPS 230 Operational Risk Management, which mandates an annual register of material service providers, rendering SRS 331.0 unnecessary.
Policy & regulationRules & requirementsRegulatory reporting
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2025-10-01•Global•G30
The Group of Thirty's report, "The Past and Future of Money," chaired by Kenneth Rogoff, examines cryptocurrencies, stablecoins, CBDCs, and tokenized deposits. It urges accelerating CBDC development, fostering innovation in commercial bank money, and establishing robust stablecoin regimes. The report deems unbacked cryptocurrencies unsuitable as money and stresses stringent regulatory standards for financial integrity.
Policy & regulationInternational standards & recommendationsCBDC
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2025-10-01•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority's Quarterly Report on Asset Management shows a 2.1% increase in assets managed by Austrian investment funds, reaching EUR 232.5bn in Q2 2025. Growth was driven by net inflows and positive global market performance, with equity funds leading inflows at EUR 1.2bn. Sustainability funds under the Sustainable Finance Disclosure Regulation rose by 2.2% to EUR 115.5bn, while real estate funds saw net outflows of EUR 205m.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-01•India•Reserve Bank of India
The Reserve Bank of India has revised guidelines for reconciling export and import entries in the Export and Import Data Processing and Monitoring Systems, simplifying processes for authorised dealer category-I banks for entries of INR 1 million or less. Banks can reconcile records based on exporter or importer declarations and collect these quarterly for bulk processing. The guidelines prohibit penal charges for delays and require banks to review transaction handling charges.
Policy & regulationRules & requirementsRegulatory reporting
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2025-10-01•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria clarified reporting requirements to the Central Credit Register (CCR) and proposed changes under Ordinance No. 22, including potential reductions in data submission time limits and new reporting on disputed CCR data. The CCR framework involves diverse reporting entities and handles extensive loan data, with over 7.3 million loans reported monthly. Proposed amendments also address the submission of final court judgments or administrative acts related to disputed CCR data, emphasizing reporting entities' responsibility for data accuracy and compliance.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-10-01•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced a sanctions update from the Isle of Man Treasury, Customs and Immigration Division, covering Financial Sanctions: Counter Terrorism (Domestic) and Financial Sanctions: Iran (Nuclear) regimes, with legislative amendments to the latter. Firms are directed to the Isle of Man Government news releases and the Treasury division’s Sanctions and Export Control webpage for detailed information and updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-10-01•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority is reviewing responses to consultations on the Financial Services (Miscellaneous Provisions) Bill and the Retirement Benefits Schemes (Amendment) Bill, with Feedback Statements and next steps expected in November. Detailed submissions were received, and changes to the Bills will be outlined in the Feedback Statements. A separate consultation on secondary legislation is planned for 2026.
Policy & regulationRules & requirementsAML and CFTRegulatory burden
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2025-10-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper using natural language processing to map the evolution of monetary policy discourse from over 19,000 central bank speeches. The analysis reveals regional clustering and distinct themes, such as climate change and inflation, focusing on the Federal Reserve System and European Central Bank. The study suggests potential applications for real-time monitoring of communication shifts and econometric analysis.
ResearchOther
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2025-10-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing consumer preferences for payment methods in South Korea, using a discrete choice experiment to simulate demand for a hypothetical retail central bank digital currency (CBDC). The study found that 19% of respondents would prefer CBDC over cash and mobile payments, rising to 27% if CBDC offers a discount rate similar to credit cards. Financial incentives, such as monthly fees and discounts, significantly influence consumer choice, with non-monetary attributes like form and acceptance also impacting preferences.
ResearchCBDC
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2025-10-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper examining generative artificial intelligence (gen AI) awareness and usage among Italian households, revealing broad awareness but uneven adoption across demographics. The study found a modest positive correlation between gen AI use and earnings, particularly among men and in high-exposure sectors. Expected future use is primarily in education, training, and leisure activities.
ResearchArtificial intelligence
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2025-10-01•Global•Bank for International Settlements
BIS Bulletin No 114 examines the impact of the US dollar's 2025 depreciation on emerging market economies (EMEs), noting improved borrower creditworthiness and increased dollar credit supply. However, EMEs with significant outward dollar portfolios face valuation losses, potentially tightening conditions. The analysis suggests that as EMEs grow their international creditor positions, the traditional benefits of dollar depreciation may diminish.
ResearchForeign exchange policy and markets
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2025-10-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper detailing a method using large language models to create daily sentiment indices for US growth and inflation from press narratives. The indices, derived from Wall Street Journal articles, offer near real-time insights into macroeconomic conditions and enhance forecasting accuracy. The sentiment indices will be accessible on the BIS website.
Research
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2025-10-01•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan granted JSC “TransOil Insurance Company” a general insurance licence, No. 2.1.29, for additional voluntary insurance classes. The licence covers guarantees and sureties, legal entities’ debts, sickness, financial losses, and professional liability insurance.
SupervisionAuthorisations & approvalsLicence approval
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2025-10-01•India•Reserve Bank of India
The Reserve Bank of India has extended the foreign exchange outlay period for merchanting trade transactions from four to six months, effective immediately. Other conditions from the January 2020 directions remain unchanged, including the nine-month completion period for MTT. This directive is issued under the Foreign Exchange Management Act, 1999.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-10-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa is recruiting individual consultants to run national workshops on asset recovery and the management of seized and confiscated assets under its African Development Bank-financed AML/CFT capacity-building project. The work covers practical training for competent authorities on tracing illicit financial flows, recovering assets and strengthening regional and international cooperation. Expressions of interest are due by 05 November 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-10-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Intergovernmental Action Group against Money Laundering in West Africa is seeking an individual consultant to serve as Project Procurement Officer for an African Development Bank funded AML/CFT capacity building project. The role covers procurement planning, tender preparation, bid and contract support, and compliance monitoring. Expressions of interest are due by 14 November 2025 at 17:00 GMT.
Institutional developmentWorkforce & recruitmentAML and CFT
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2025-10-01•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has launched the 'Innovation' Initiative Accelerator Program through its Wolooj Innovation Hub, inviting Kuwaiti talents to develop solutions for regulatory, cybersecurity, supervisory, or financial sector challenges from 1 September to 1 December 2025. Participants will address specific problem statements, supported by CBK experts and mentors.
SupervisionInnovation & testingFintech and insurtechSupervision process and methodologies
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2025-10-01•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority released the Q3 2025 Volkswirtschaftsmonitor, offering a macroprudential assessment of national economic developments and international financial markets.
ResearchMacroprudential policy and toolsFinancial stability and systemic risk
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2025-10-01•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in a technical meeting on transport insurance, discussing National Land Transport Agency Resolution No. 6,068/2025. The focus was on regulatory requirements under Law No. 14,599/2023, mandating civil liability insurance for cargo transport companies. SUSEP's Jessica Bastos highlighted the importance of ongoing supervision, particularly concerning pricing and its impact on food prices.
Policy & regulationRules & requirementsOther
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2025-10-01•Dominican Republic•Superintendencia del Mercado de Valores de la Republica Dominicana
At the Inter-American Development Bank’s BankLAC–CapiLAC 2025 dialogue, the Dominican Republic's Superintendence of the Securities Market, led by Superintendent Ernesto Bournigal, discussed regulatory developments since Law 249-17 and announced new rules on crowdfunding and investor protection. Bournigal noted the implementation of 16 regulations and over 20 standards, contributing to market growth with USD 240 billion settled by end-2024 and over 40,000 jobs created. The regulator also emphasized regional cooperation through its participation in the International Organization of Securities Commissions’ Multilateral Memorandum of Understanding.
Policy & regulationRules & requirementsMarket developmentDomestic cooperation
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2025-10-01•Spain•Bank of Spain
The Bank of Spain shared Governor José Luis Escrivá’s remarks from the 9th Annual Conference of Mediterranean Central Banks, stressing global risks from geopolitical tensions and the need for multilateral cooperation. Escrivá advocated a data-dependent approach to monetary policy normalization and fiscal consolidation to manage high debt and borrowing costs. The conference theme centered on innovation and integration for sustainable development, addressing AI in finance, green transition financing, financial inclusion, and Mediterranean financial integration.
Monetary policyMonetary policy assessments & outlooksFintech and insurtechArtificial intelligence
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2025-10-01•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) has established the Payments Regulatory Board (PRB) under the Payment and Settlement Systems Act, 2007, replacing the previous Board for Regulation and Supervision of Payment and Settlement Systems. The PRB, constituted under Section 3(2) of the PSS Act, held its inaugural meeting on 1 October 2025, approving CCIL IFSC Limited to operate a Foreign Currency Settlement System in the International Financial Services Centre.
Institutional developmentMandate & organizational structureMandate change
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2025-10-01•Global•Bank for International Settlements - Financial Stability Institute
The Bank for International Settlements Financial Stability Institute published an FSI Insights paper reviewing how seven national financial authorities define, measure and monitor “financial health” and use these metrics in programmes and policy interventions. The paper finds that authorities employ differing index and multi-metric approaches, rely mainly on survey-based data, and currently use financial health information primarily for consumer education and protection, while exploring broader applications for conduct, prudential and supervisory purposes.
ResearchFinancial inclusionFinancial literacy and education
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2025-10-01•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) has initiated the "Simplifica PREVIC" campaign, mandating plain language across all communications, in line with the Ministry of Social Security's directive. The Action Plan requires accessible writing for all agency texts and includes a review of routine documents by March 2026. Previously published normative acts and finalized communications are exempt from revision.
Institutional developmentCooperation & capacity buildingOther
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2025-10-01•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendence of Banks of the Dominican Republic completed a World Bank technical assistance programme to enhance its supervisory framework for anti-money laundering and counter-terrorist financing (AML/CFT). The programme included risk-based supervision, early-warning mechanisms, and involved collaboration with national authorities and private-sector representatives.
Policy & regulationImplementation, projects & pilotsAML and CFTSupervision process and methodologies
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2025-10-01•Europe•European Central Bank
The European Central Bank's working paper analyzes how euro area banks adjust voluntary capital buffers to increased capital requirements. Banks typically reduce buffers rather than raise new equity, with a 0.5 percentage point increase in requirements leading to a 0.30–0.35 percentage point reduction in the Common Equity Tier 1 buffer. This adjustment is more pronounced in banks with weaker balance sheets, especially those with higher non-performing loans.
ResearchCapital adequacy
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2025-10-01•Europe•European Central Bank
In a keynote speech, ECB Executive Board member Frank Elderson discussed integrating climate and nature-related risks into ECB Banking Supervision's regular tools, moving to a business-as-usual approach. He noted banks have governance frameworks but highlighted inconsistencies in applying practices and addressing risks. Elderson emphasized ongoing monitoring, focusing on new elements in the European Banking Authority’s ESG risk management guidelines and plans to publish updated "good practices" later this year.
SupervisionSupervision approach, priorities & toolkitClimate risk and sustainable finance
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2025-10-01•Europe•European Central Bank
The European Central Bank's working paper examines euro area household consumption's response to monetary policy shocks, noting significant differences based on durability and essentiality. Durable goods and non-essential items, especially vehicles and major recreational durables, react strongly to monetary tightening, while essentials like narcotics and utilities remain unaffected. The study uses Eurostat data and high-frequency ECB announcement surprises, representing the authors' views, not the ECB's.
Research
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2025-10-01•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) detailed enforcement actions from July to September 2025, including SGD 27.45 million in composition penalties for anti-money laundering breaches linked to the August 2023 case. Major actions involved licence revocation, prohibition orders, and reprimands, notably against Xen Capital Asia Pte Ltd and its executives for regulatory breaches. MAS emphasized deterrence and safeguarding Singapore’s financial-centre integrity.
EnforcementInvestigations & enforcement actionsAML and CFTCorporate governance
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2025-10-01•Serbia•National Bank of Serbia
The National Bank of Serbia's Q2 2025 insurance sector report highlights a 9.8% increase in total premiums to RSD 97.6 billion and a 9.0% rise in the sector's balance sheet to RSD 440.7 billion. Capital grew by 12.2% to RSD 82.5 billion, with technical reserves up 6.6% to RSD 297.4 billion. The report anticipates significant regulatory changes as Serbia aligns with the Insurance Distribution Directive and implements Solvency II.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-10-01•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission and Korea Asset Management Corporation have launched the New Leap Fund, a long-term debt restructuring program for vulnerable groups and small merchants. Starting in October 2025, it will assess debtors' wealth and income before restructuring, with immediate write-offs for those under basic living welfare. Additional support includes special debt restructuring and low-interest loans for long-term overdue debts, with further measures planned for late 2025.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-10-01•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission approved amendments to the Korea Exchange’s disclosure rules, requiring listed companies to promptly disclose industrial accidents to improve financial risk management. ESG rating institutions updated their guidance to include industrial accidents in assessments, effective October 1. The periodic reporting proposal, requiring detailed accident information in business reports, is open for public comment until November 10.
Policy & regulationRules & requirementsESG
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2025-10-01•Oman•Oman Financial Services Authority
The Oman Financial Services Authority mandated Oman Telecommunications Company (Omantel) to amend its 2024 financial statements due to non-compliance with International Financial Reporting Standards, specifically IAS 29 and IAS 21. Omantel's appeal against this decision was dismissed by the Financial Services Authority’s Appeals Committee.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-10-01•United Kingdom•HM Treasury
HM Treasury has launched a consultation and call for evidence on reforms to the UK’s Bank Referral Scheme, including expanding designated lenders and redesigning referral, consent, information and reporting arrangements to improve outcomes for SMEs. Following a review showing only about 5% of initially rejected businesses secured funding, the consultation seeks views on broader designation criteria, earlier and more standardised information, possible referral rights where no decision is communicated, enhanced explanations and signposting, simplified consent and data sharing, and expanded performance data collection.
Policy & regulationRules & requirementsSME financing
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2025-10-01•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a VND 1,000,000 fee for a securities practice certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer to VietinBank or Vietcombank, or in person at the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-10-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released a summary of its September 2025 activities, including rulemaking consultations, supervisory guidance, and enforcement outcomes. Key actions involved consultations on trading in issuers’ own shares, proposed reforms to Resolution CVM 88, and an extension for amendments to Resolution CVM 160. The CVM also reported on enforcement activities, including settlement proposals and judgments, and published surveys on capital markets integrity.
Policy & regulationRules & requirementsOther
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2025-10-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered the immediate suspension of securities intermediation services by Tickmill Ltd. and related entities, citing unauthorized solicitation of Brazilian clients. The firms, operating via specific websites, are not authorized to intermediate securities or raise investor funds in Brazil, as per Declaratory Act CVM 23,967.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-10-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has joined an administrative arrangement for personal data transfer between EEA and non-EEA authorities for securities and derivatives regulation, aligning with the EU's GDPR. Approved by the European Data Protection Board and IOSCO, the arrangement mandates signatories to uphold data processing safeguards, including confidentiality, restricted onward transfers, data retention rules, and compensation mechanisms.
Policy & regulationCooperationData protectionDomestic cooperation
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2025-10-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has approved a Memorandum of Understanding with the Astana Financial Services Authority to enhance international regulatory cooperation. The MOU includes discussions on laws, mutual technical assistance, and information exchange, focusing on financial markets and capital markets development. The agreement is valid for five years with automatic renewal.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan announced the completion of the first AZN-denominated bond placement by the European Bank for Reconstruction and Development in Azerbaijan’s domestic market. The AZN 50 million bonds, with a one-year maturity, are the market's first floating-rate bonds, linked to the central bank's AZIR benchmark. Investor demand exceeded the placement size, supporting efforts to diversify capital market instruments and deepen domestic financing.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-10-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan's chair, Taleh Kazimov, addressed the 7th OIC-COMCEC Central Banks Forum in Istanbul, emphasizing the need for faster, more transparent, and accessible cross-border payments. He discussed initiatives under Azerbaijan’s 2024–2026 Financial Sector Development Strategy to enhance the national payment system and foster a supportive environment for market participants.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has reimposed designations under the UN Iran snapback mechanism, per the UK's Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, applicable in Guernsey. Businesses must check for relationships with designated persons, apply asset-freeze and reporting requirements, and report findings to the Policy & Resources Committee. The notice updates 78 entries with additional UN sanctions, requiring firms to treat related assets as frozen and report affected relationships to the Commission.
Policy & regulationRules & requirementsSanctions list update
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2025-10-01•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has started the 2025-2026 Household Budget Survey to update the Consumer Price Index basket used for inflation calculation. The National Institute of Statistics will conduct fieldwork covering more than 3,000 households in Asuncion and the Central Department through September 2026. The central bank will then process and analyze the results.
Data & statisticsEconomic data and developments
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2025-10-01•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain announced the selection of 15 Bahraini graduates for its inaugural GP15 Graduate Development Program, a six-month initiative to develop talent in the financial services sector. Candidates were chosen based on academic performance and assessments, and the program includes cross-functional exposure, project-based assignments, and workshops.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-10-01•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,147 examines the impact of easing mortgage borrowing constraints on homeownership, using the UK Help-to-Buy programme as a case study. The research links the policy to a 37% rise in first-time buyer purchases in areas with average exposure, with 460,000 additional households becoming homeowners between 2013 and 2018. The increase is primarily among unsupported buyers, with a notable rise in mortgages with a 5% down payment.
ResearchLending
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2025-10-01•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,146 analyzes trade fragmentation's impact on inflation and necessary monetary policy responses. Using a two-sector small open economy model, it finds inflation effects depend on aggregate demand adjustments and fragmentation's nature, whether gradual or front-loaded. The paper explores scenarios under different monetary policy rules, highlighting varied inflationary outcomes and policy implications.
Research
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2025-10-01•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced Montenegro's entry into the Single Euro Payments Area (SEPA) on 7 October, enabling faster and lower-cost cross-border transfers. Governor Irena Radovic outlined plans to launch a national instant payment system in July 2026, in collaboration with Banca d’Italia and the European Central Bank, expected to save tens of millions of EUR annually and support digitisation and financial inclusion.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-10-01•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro clarified it doesn't oversee the Law on Identity Cards, managed by the Ministry of Interior, amid concerns about expired cards affecting banking access. The bank supervises compliance with the Law on the Prevention of Money Laundering and Terrorist Financing, requiring banks to verify customer identity with valid documents. It emphasized banks must inform clients about their rights and obligations to ensure uninterrupted services.
Policy & regulationGuidance & interpretationKYC
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2025-10-01•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation and Chainlink have partnered to create an institutional-grade identity solution for the blockchain industry, integrating GLEIF’s verifiable Legal Entity Identifier with Chainlink’s Cross-Chain Identity and Automated Compliance Engine to enhance onchain identity verification and regulatory compliance.
Policy & regulationCooperationBlockchain and distributed ledger technologyRegtech and suptech
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2025-10-01•Global•Institutional Investors Group for Climate Change
The Institutional Investors Group for Climate Change, supported by 42 investors with over EUR 4.5 trillion in assets, urged the European Commission, Parliament, and Member States to uphold and swiftly implement the EU Methane Emissions Regulation. They warned that weakening the framework could threaten regulatory certainty and market stability, stressing the importance of its monitoring, reporting, and verification provisions. The letter also calls for timely guidance from the Commission and consistent implementation across Member States.
Policy & regulationOtherClimate risk and sustainable finance
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2025-10-01•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic held an Interbank Council meeting with commercial banks to discuss initiatives for enhancing digital payments and access to financial services. Key topics included integrating mobile applications with government systems, expanding QR-code payments, developing a merchant acquiring network, implementing Open API standards and ISO 20022, and enabling election fund donations via mobile apps.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsOpen banking and finance
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2025-10-01•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 and transcript of Ranking Member Elizabeth Warren's questioning at a Senate Finance Committee hearing on digital asset taxation. Warren criticized industry-backed proposals that could reduce crypto tax burdens and weaken anti-money laundering and tax evasion reporting. She highlighted potential tax revenue losses, including a USD 5.8bn benefit from a de minimis exemption and a USD 4.3bn reduction from deferred tax on crypto income.
Policy & regulationRules & requirementsTax transparency and information exchange
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2025-10-01•Russia•Central Bank of Russia
The Central Bank of Russia announced a new entitlement for entrepreneurs to obtain loan repayment holidays starting 1 October 2025, applicable even without a revenue decline. Eligibility varies by borrower size and loan amount, with repayment holidays available once every five years for six months per loan. The law covers loans issued from 1 March 2024, suspending principal repayments while interest accrues at the contractual rate.
Policy & regulationRules & requirementsLending
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2025-10-01•Russia•Central Bank of Russia
Starting 1 October 2025, the Central Bank of Russia requires credit rating agencies to enhance transparency by publishing detailed credit ratings and forecasts online. Agencies must clarify significant factors affecting a rated entity's financial obligations and disclose 'under supervision' status details, indicating potential near-term rating revisions. They must also assess a company's standalone creditworthiness, excluding external influences.
Policy & regulationRules & requirementsCredit ratingsDisclosures
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2025-10-01•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Chairman Tim Scott of the U.S. Senate Committee on Banking, Housing and Urban Affairs endorsed President Trump's nomination of Travis Hill as Chairman of the Federal Deposit Insurance Corporation. Scott praised Hill's focus on eliminating "reputational risk" from bank supervision, aligning with Scott's FIRM Act to combat debanking and discrimination. Hill's approach was contrasted with the previous leadership under former Chair Gruenberg.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-10-01•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission issued a supervisory notice urging holders of Nakhonluang Capital's NAKON25OA and NAKON264A bonds to review information and participate in the upcoming e-meeting. The meeting will address proposals to extend bond maturities, adjust interest rates, and revise repayment terms. Bondholders are advised to consider analyses from their representatives on the implications of these changes.
SupervisionInterventionsCorporate governance
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2025-10-01•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) updated its guidance on anti-money laundering and anti-terrorist financing for money services businesses (MSBs) and foreign MSBs. New requirements include verifying agents' eligibility and conducting criminal record checks, with non-compliance penalties up to CAD 500,000 and/or 5 years imprisonment. MSBs must comply by October 1, 2027, for agents engaged before October 1, 2025.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-10-01•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC issued compliance guidance on beneficial ownership under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, mandating consultation of Corporations Canada’s database for high-risk corporations. Reporting entities must identify and report material discrepancies within 30 days, with voluntary reporting for non-high-risk corporations. The guidance outlines recordkeeping, verification measures, and exceptions to beneficial ownership requirements.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-10-01•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses (EACH) released a note evaluating supervisory frameworks for EU central counterparties (CCPs) amid Savings and Investment Union discussions. EACH advocates for streamlined approval processes, clearer supervisory engagement, and cost-effective supervision, emphasizing innovation support and fiscal responsibility clarity in potential centralization. The note suggests that if the European Securities and Markets Authority (ESMA) becomes the sole EU supervisor, internal restructuring may be necessary to handle increased responsibilities.
Policy & regulationReform agendas & prioritiesCCPs
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2025-10-01•Namibia•Bank of Namibia
The Bank of Namibia, in collaboration with financial institutions, regulators, and industry associations, launched the Namibia Sustainable Finance Alliance (NSFA) to integrate sustainability and climate resilience into the financial system. The NSFA aims to promote sustainable finance, facilitate knowledge sharing, and support Namibia's climate adaptation goals. The Alliance will be chaired by the Bank of Namibia’s Deputy Governor, Ebson Uanguta.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-10-01•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria has issued new Guidelines for the Operations of Agent Banking, consolidating previous frameworks into a single rulebook. The guidelines establish standards for CBN-licensed financial institutions, detailing roles, permissible services, operational controls, and sanctions. Key provisions include agent exclusivity, transaction limits, mandatory reporting, and penalties for non-compliance.
Policy & regulationRules & requirementsCurrency and cash management
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2025-10-01•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria has issued revised Guidelines on ATM Operations, updating requirements for deployment, technology standards, security, and transaction resolution. Key mandates include prior approval for independent deployers, compliance with Payment Card Industry Data Security Standards, and accessibility provisions. Card issuers must meet minimum ATM density, adhere to operational rules including downtime limits and refund timelines, with penalties for non-compliance.
Policy & regulationRules & requirementsPayments and payment systems
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2025-10-01•Europe•European Payments Council
The European Payments Council (EPC) has introduced a simplified homologation process for the SEPA Request-to-Pay (SRTP) scheme, streamlining applicant readiness verification. Sopra Steria Belgium remains the independent SRTP scheme Homologation Body, with exemptions for applicants using a Referenced Technical Solution Provider. The EPC advises testing SRTP API messages with an API test toolbox before homologation or going live.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-01•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation and Chainlink have partnered to create an institutional-grade identity solution for the blockchain industry, integrating verifiable Legal Entity Identifier with Cross-Chain Identity and Automated Compliance Engine to enhance onchain identity verification and compliance. This initiative aims to facilitate institutional digital asset adoption by enabling regulatory compliance and counterparty verification while preserving user privacy.
Policy & regulationImplementation, projects & pilotsBlockchain and distributed ledger technologyRegtech and suptech
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2025-10-01•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria issued new guidelines for agent banking, establishing standards for operations, security, and conduct, effective immediately. Nigeria has been removed from the Financial Action Task Force grey list after a two-year reform program addressing anti-money laundering and counter-terrorist financing deficiencies. The Central Bank of Nigeria emphasizes ongoing oversight and the importance of robust AML/CFT measures.
Policy & regulationRules & requirementsEconomic data and developments
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2025-10-01•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has partnered with Chainlink to create an institutional-grade identity solution for the blockchain industry, integrating GLEIF’s verifiable Legal Entity Identifier with Chainlink’s Cross-Chain Identity and Automated Compliance Engine. This initiative addresses the lack of trusted onchain identity, facilitating regulatory compliance and counterparty verification for institutions, stablecoin issuers, and trading venues.
OtherBlockchain and distributed ledger technologyRegtech and suptech
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2025-10-01•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority will review Nasdaq Clearing's compliance with Sweden’s security protection regulatory framework, emphasizing the requirement for a documented security protection analysis. This review is part of the authority’s 2025 focus on banks and financial firms' operational resilience in uncertain environments. Nasdaq Clearing offers central counterparty clearing services for financial and commodity derivatives.
SupervisionReviews, inspections & stress testsMarket infrastructure
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2025-10-01•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services, led by Chairman French Hill, warned that the federal government shutdown halted congressional work, causing the expiration of the National Flood Insurance Program (NFIP) and the Defense Production Act (DPA). Hill blamed the Senate's rejection of a House-passed funding measure and emphasized the negative impact on at-risk property owners and national security supply production. He called for a resolution to restore funding and secure the extensions.
Other
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2025-10-01•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary emphasized central banks' role in supporting capital market development through financial stability at a conference hosted by Slovakia’s central bank. He highlighted Hungary’s initiatives, including certified financial products and a Certified Corporate Loan scheme for SMEs, and noted regional cooperation to enhance liquidity and competitiveness. The Budapest Stock Exchange's market capitalisation has significantly increased, with the BUX index doubling in the past two years.
Policy & regulationImplementation, projects & pilotsMarket developmentFinancial stability and systemic risk
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2025-10-01•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported a decline in the aggregate balance sheet total of credit institutions to EUR 968,804 million at the end of August 2025, down 0.77% from July, mainly due to reduced interbank claims and liabilities. Loans to non-bank customers decreased by 1.53% monthly but increased by 1.4% year-on-year, with declines in lending to non-financial corporations offset by rises in household mortgage lending and lending to other financial intermediaries. Resident non-bank deposits fell by 3.85% monthly but grew by 3.36% over the year, with other financial intermediaries holding the majority share.
Data & statisticsBalance of payments and other external statistics
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2025-10-01•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's October 2025 Economic Report highlights firmer domestic activity, continued disinflation, and an appreciating naira. The Purchasing Managers’ Index rose to 55.40, while headline inflation eased to 18.97% year on year. Despite a 15.72% drop in federally collected revenue, financial soundness indicators remained above regulatory thresholds, though non-performing loans rose to 7.74%.
Monetary policyMonetary policy assessments & outlooks
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2025-10-01•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation and other federal agencies reminded lenders they can originate loans under federal flood insurance statutes even when the National Flood Insurance Program is unavailable, without requiring federal flood insurance. Lenders must still conduct flood determinations, provide accurate borrower notices, and comply with flood insurance regulations. Institutions are advised to assess and manage safety, soundness, and legal risks, and consider private flood insurance options during the lapse.
Policy & regulationGuidance & interpretationLending
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2025-10-01•Egypt•Egypt Financial Regulatory Authority
Dr. Mohamed Farid, chair of Egypt's Financial Regulatory Authority, discussed sustainable financing for startups via capital-markets exit routes like the Egyptian Exchange and SPACs. He announced the approval of Egypt's first venture capital SPAC and emphasized a flexible regulatory framework to balance investor protection with startup growth. Farid highlighted tax advantages for listed companies and ongoing collaboration with the Ministry of Finance to support growth through tax policies.
SupervisionAuthorisations & approvalsMarket development
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2025-10-01•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority now permits insurers to issue and distribute policies digitally, with FRA approval and FinTech compliance. Premiums must be paid directly to insurers, not collected by marketing partners. Insurers must submit a digital issuance plan, and contracts must link to FRA databases, with added customer protection and guidelines for digital marketing partners.
Policy & regulationRules & requirementsFintech and insurtech
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2025-10-01•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's Board Decision No. 198 of 2025 sets requirements for licensed insurance brokerage firms to conduct digital activities. It mandates regulatory approval, cybersecurity obligations, and customer protection rules, including real-time insurance issuance via Web Service API links. Brokers must ensure secure data storage, disclose their licence, and comply with cybersecurity testing, while insurers must verify broker approval and provide electronic premium collection channels.
Policy & regulationRules & requirementsLicensing framework and process
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2025-10-01•United States•Federal Reserve Board
The Federal Reserve Board and other agencies reminded lenders they can issue loans under federal flood insurance statutes even if the National Flood Insurance Program is unavailable, without requiring federal flood insurance during the lapse. Institutions must continue flood determinations, provide accurate borrower notices, and comply with flood insurance regulations. Lenders are advised to assess and manage safety, soundness, and legal risks prudently, with guidance on private flood insurance use.
Policy & regulationGuidance & interpretationLending
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2025-10-01•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board (CPAB) released an enforcement report on Manning Elliott LLP, maintaining the restriction on accepting new high-risk reporting issuer audit clients and ending two quality monitoring requirements. CPAB's 2024 inspection found one significant issue, leading to continued enhanced oversight through quarterly meetings and a monetary assessment for oversight costs. Remaining enforcement actions persist until CPAB confirms sustained audit quality improvement or termination under Rule 605.
EnforcementInvestigations & enforcement actionsAuditing
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2025-10-01•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has revoked the registration of Eloy Corredores de Bolsa de Productos S.A. from the Registry of Commodity Exchange Brokers. This decision was made under Article 16, letter D of Law No. 19,220, due to the firm's inactivity as a broker for over a year.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-10-01•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) launched its 2025 Financial Education Month, focusing on enhancing public financial literacy and well-being. The initiative, linked to a century of banking regulation in Chile, includes workshops, themed weekly activities, and a public webinar.
Financial literacy & educationFinancial literacy and education
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2025-10-01•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) published an inspection report on an audit firm, revealing deficiencies in its quality management system, AML compliance, and audit performance. Prompted by unsatisfactory quality reviews in 2022 and 2023, the review identified inadequate monitoring controls, insufficient risk assessments, and incomplete documentation. The firm is being wound up, with its authorisation deleted as of 30 September 2025, ending further supervisory follow-up.
SupervisionReviews, inspections & stress testsAuditing
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2025-10-01•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) released Community Reinvestment Act (CRA) performance evaluations for six national banks and federal savings associations for September 2025. Three institutions received an "Outstanding" rating, while three were rated "Satisfactory." The OCC also highlighted the availability of a searchable archive of CRA evaluations and a list of institutions scheduled for future examinations.
SupervisionReviews, inspections & stress testsOther
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2025-10-01•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency and other federal agencies reminded lenders they can continue making loans under federal flood insurance statutes even if the National Flood Insurance Program is unavailable. Lenders must still conduct flood determinations, provide accurate borrower notices, and comply with flood insurance regulations. The guidance also covers risk management and the use of private flood insurance during such lapses.
Policy & regulationGuidance & interpretationLending
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2025-10-01•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has revoked Reporting Standard SRS 331.0 Services for registrable superannuation entity licensees, deeming it redundant under the updated operational risk framework following the introduction of Prudential Standard CPS 230 Operational Risk Management.
Policy & regulationRules & requirementsRegulatory reporting
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2025-10-01•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted the 9th Annual Conference of Mediterranean Central Banks in Cairo, focusing on innovation and integration for sustainable development. Key discussions included AI in central banking, sustainable financing, financial inclusion, and integration, with an OECD report on regional integration highlighted. Banco de España will host the next conference, with a preparatory meeting planned to enhance coordination.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-10-01•Romania•National Bank of Romania
The National Bank of Romania reported a slight decrease in foreign exchange reserves to EUR 65.015 billion as of 30 September 2025, down from EUR 65.188 billion at the end of August. Inflows and outflows during September were EUR 1.619 billion and EUR 1.792 billion, respectively, with gold holdings unchanged at 103.6 tonnes, valued at EUR 10.771 billion. Total international reserves, including gold, rose to EUR 75.786 billion from EUR 74.915 billion.
Data & statisticsBalance of payments and other external statistics