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2025-10-01•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) president, Roberto E. Silva, participated in the Inter-American Development Bank’s Regional Policy Dialogue, discussing tokenisation in Latin America and the Caribbean. Silva highlighted Argentina's pioneering role in securities tokenisation, emphasizing investor protection and linking these efforts to the CNV's goal of modernizing the capital markets regulatory framework.
Policy & regulationCooperationTokenization
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2025-10-01•Vietnam•State Bank of Vietnam
The State Bank of Vietnam participated in Sibos 2025 in Frankfurt, Germany, alongside major Vietnamese banks, engaging in sessions on payments, technology, and finance trends. The delegation held bilateral meetings with international financial institutions and technology firms to explore cooperation in cross-border payments, digital transformation, risk management, and green finance.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Vietnam•State Bank of Vietnam
Deputy Governor Nguyen Ngoc Canh attended SIBOS 2025 in Frankfurt, discussing with Standard Chartered and J.P. Morgan about expanding international banks' roles in Vietnam and developing a financial centre. Standard Chartered is interested in fintech and sustainable finance, while J.P. Morgan focuses on USD payments and securities lending. The Deputy Prime Minister emphasized Vietnam's efforts to create a globally connected financial ecosystem, with both banks eager to explore Vietnam's model and collaborate with local authorities.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial inclusion
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2025-10-01•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance attended the ADIRA annual assembly, where Superintendent Guillermo Plate emphasized a federal regulatory approach and market strengthening. ADIRA's report highlighted collaboration on regulatory reforms and the creation of commissions on climate risks, cybersecurity, agriculture, and fraud. ADIRA president Diego Guaita identified innovation and federal representation as management priorities.
Policy & regulationCooperationLeadership change and appointments
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2025-10-01•Switzerland•Federal Department of Finance (Switzerland)
The Federal Department of Finance of Switzerland announced that a U.S. District Court in New York dismissed a civil action by Credit Suisse AT1 bondholders seeking USD 370 million in damages from the Swiss Confederation. The court upheld the Swiss Confederation's sovereign immunity, closing the New York proceedings. An appeal may be filed within 30 days.
EnforcementInvestigations & enforcement actionsCapital adequacy
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2025-10-01•India•Securities & Exchange Board of India
The Securities & Exchange Board of India has launched two investor payment-security initiatives: “Validated UPI Handles” and “SEBI Check”. The “@valid” UPI handle, issued by the National Payments Corporation of India, is now adopted by major brokers and all mutual funds, providing a visual cue for secure transactions. “SEBI Check” allows verification of intermediary bank account details and UPI IDs through SEBI’s portal or the Saarthi app.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-10-01•Mongolia•Central Bank of Mongolia
The Central Bank of Mongolia and the European Bank for Reconstruction and Development presented findings from a research paper assessing the effectiveness of current policy measures in reducing concentrated bank ownership. Conducted by Ernst & Young, the study proposed strategies for diversifying bank ownership and legislative amendments. The workshop included discussions with senior officials, EBRD representatives, and financial sector stakeholders.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-10-01•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama, in collaboration with Infoplazas AIP, recognized community facilitators for their contributions to financial education under the National Financial Education Strategy. The event emphasized the facilitators' role in simplifying financial concepts for better community economic decisions. The SBP and Infoplazas AIP also reaffirmed the availability of their free virtual financial education course nationwide.
Financial literacy & educationFinancial literacy and education
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2025-10-01•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor Anca Dragu met with Maria Luís Albuquerque, European Commissioner for Financial Services, to discuss Moldova's integration into the EU financial market. They assessed Moldova's banking prudential framework against EU standards and progress on SEPA connectivity, set to become operational next week. This meeting is part of Moldova's EU accession process, focusing on financial services and economic policy.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Moldova•National Bank of Moldova
The National Bank of Moldova announced Governor Anca Dragu's meeting with Nicolae Ștefănuță, Vice-President of the European Parliament, to discuss Moldova's EU integration and SEPA connection. The central bank emphasized its instant payments system, MIA, and the upcoming operational integration into SEPA to enhance euro payment efficiency. This integration aligns with Moldova's financial market modernization and European standards.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-10-01•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor Anca Dragu met with European Parliament member Eugen Tomac in Brussels to discuss support for Moldova's EU accession. The central bank is leading negotiations on free movement of capital, financial services, and economic and monetary policy. The bank is also working on legislative and institutional changes to align with European standards and enhance public trust in the financial system.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Moldova•National Bank of Moldova
The National Bank of Moldova met in Brussels with European Commissioner Valdis Dombrovskis to enhance cooperation with European institutions and advance Moldova’s EU financial integration. Discussions covered Moldova’s macroeconomic outlook, alignment with European financial standards, SEPA integration, and EU Enlargement Package recommendations. Governor Anca Dragu indicated Moldova's imminent operational status in SEPA, promising improved payment systems.
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor Anca Dragu met with Gert Jan Koopman of the European Commission to discuss enhancing cooperation for Moldova's EU integration. Key topics included aligning Moldova's regulatory framework with EU standards, technical assistance from DG ENEST, and central bank independence. The meeting also covered the Growth Plan for Moldova and connecting its banking sector to the Single Euro Payments Area (SEPA).
Policy & regulationCooperationCross-border cooperation
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2025-10-01•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury updated 121 entries under the Iran (Nuclear) sanctions regime, aligning with the UK Sanctions List and reflecting the UN Iran snapback mechanism. The Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, applicable in the Isle of Man, mandate asset freezes and reporting suspected breaches to the Financial Intelligence Unit. Entities owned or controlled by designated persons are included in the screening, with breaches constituting criminal offences.
Policy & regulationRules & requirementsSanctions list update
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2025-10-01•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre's Ignyte and Binance are partnering to boost blockchain innovation in the Middle East and North Africa. The initiative includes a platform with a hackathon, training, and scale-up support. Participants will access funding, mentorship, and market-entry opportunities, with ongoing support for blockchain start-ups through developer tools, training, and international networks.
Policy & regulationImplementation, projects & pilotsFintech and insurtechBlockchain and distributed ledger technology
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2025-10-01•United Arab Emirates•Central Bank of the UAE
The UAE Central Bank hosted the 19th Annual Conference of the International Operational Risk Working Group, highlighting updated operational risk management regulations for licensed financial institutions, aligned with Basel principles. The event emphasized integrated risk management, operational resilience, and standards for third-party risk, cyber resilience, and business continuity. The CBUAE also noted its Open Finance Regulation and Central Bank Digital Currency initiative as part of its financial innovation strategy.
Policy & regulationRules & requirementsOperational risk and resilience
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2025-10-01•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank (ECCB) marked its 42nd anniversary, emphasizing its commitment to financial stability within the Eastern Caribbean Currency Union (ECCU). The EC dollar remains stable, pegged at XCD 2.70 to USD 1.00, backed by nearly 99% foreign reserves. Governor Timothy N.J. Antoine highlighted the ECCB's core functions, including financial supervision, currency issuance, deposit protection, and safeguarding the regional financial system.
Other
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2025-10-01•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde is hosting the Annual Meeting of Governors of Central Banks of Portuguese-Speaking Countries, focusing on aligning monetary policy with prudential responsibilities. Discussions will address the post-2008 shift towards financial stability roles, technological challenges, and the reconciliation of monetary and prudential policies.
Policy & regulationCooperationMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-10-01•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde announced an increase in coin circulation, adding 1.4 million coins in CVE 1, CVE 5, and CVE 10 denominations between July and September. This effort addresses concerns about shortages, with total circulation expected to reach 92.7 million coins. Further reinforcements for CVE 50, CVE 20, and CVE 100 coins are planned, and the Bank is exploring additional distribution methods.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-10-01•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde introduced BCVRevista, a publication detailing key developments from 2021 to 2025 under its Strategic Plan. This initiative aims to enhance public understanding of the bank's role and strengthen transparency, accountability, and public trust in accordance with its Communication Policy.
Financial literacy & educationAccounting and financial reporting
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2025-09-30•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) announced the Cabinet's approval to license EZ Bank as a new digital bank in Saudi Arabia with SAR 2.5 billion capital. This addition brings the total number of licensed banks in the Kingdom to 39, comprising 15 Saudi banks and 24 foreign bank branches.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-30•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission's Chairman and Executive Director attended the "50 Years of Insurance in Angola" conference by the Angolan Insurance Regulatory and Supervisory Agency. The event reviewed the insurance and pension funds sectors' trajectory and future outlook, featuring presentations on sector development. The Commission emphasized fostering cooperation between insurance and capital markets to promote savings, investment, and protection for investors and policyholders.
Policy & regulationCooperationCross-border cooperation
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2025-09-30•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of FUNDO VALOR, a closed-end special securities investment fund offered by private subscription. The fund will invest in low-risk instruments such as treasury and government bonds, corporate bonds rated investment grade, and short-term assets. Standard Gestão de Activos is the management company, with Banco Valor as the depositary.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-30•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission, represented by Executive Director Vasco Januário, participated in the Ring the Bell session for Banco de Fomento Angola's (BFA) admission to trading on the equity market. The event, organized by the Angola Debt and Securities Exchange, marked BFA's transition to a listed issuer and aimed to deepen the domestic stock market.
OtherSecurities offerings and listings
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2025-09-30•Italy•Bank of Italy
The Bank of Italy hosted the second annual Economics of the Public Sector and Institutions Conference in Rome, featuring presentations from leading international scholars on public sector and institutional research.
ResearchOther
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2025-09-30•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority announced that the initial approval for Kafio Financial Brokerage Company's securities activities application has expired, rendering the application non-existent as of 29 September 2025. This follows Article 1-7 of Module V of the Executive Bylaws to Law No. 7 of 2010, due to the applicant's failure to submit required documents within the specified timeframe.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-09-30•Israel•Bank of Israel
The Bank of Israel reported a 5.5% increase in the public’s financial assets portfolio, reaching approximately NIS 6.6 trillion in Q2 2025, driven by a 22.3% rise in Israeli equities. Institutional investor assets grew by NIS 176 billion to NIS 3.06 trillion, and mutual funds increased by NIS 58.7 billion to NIS 675.6 billion, bolstered by net new investments in shekel money market and domestic equity-focused funds.
Data & statisticsFinancial and market indicators
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2025-09-30•Israel•Bank of Israel
The Bank of Israel held a meeting with financial forecasters to discuss projections for inflation, interest rates, and exchange rates, with Governor Prof. Amir Yaron addressing economic developments amid the ongoing war. Economist Nimrod Cohen presented the Research Department's assessment published on September 29, 2025.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-09-30•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Alromansiah Company's application for an initial public offering of 18,000,000 shares, representing 30% of its share capital. The prospectus will provide investors with financial statements, company activities, management details, and risk factors. The approval is valid for six months from 29 September 2025, subject to completion of the offering and listing within this period.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-30•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported a current account deficit of EUR 742.18 million by end-July 2025, widening by EUR 206.40 million year-on-year. The goods trade deficit increased to EUR 3.19 billion, with exports down 1.71% and imports up 15.57%. Direct investment in Kosovo rose 24.24% to EUR 540.94 million, while reserve assets increased by EUR 201.48 million.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission granted conditional exemptive relief from certain requirements in the National Market System Plan for the Consolidated Audit Trail (CAT) to reduce operating costs while maintaining regulatory functionality. This follows the U.S. Court of Appeals for the Eleventh Circuit vacating the 2023 funding model order for CAT. The SEC forecasts CAT expenses to decrease by an additional USD 20 million to USD 27 million below the USD 196 million forecast for 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-30•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) launched a webpage to aid broker-dealers and market participants in implementing central clearing requirements for U.S. Treasury securities, featuring status updates and regulatory materials. The SEC, which adopted Treasury clearing rule changes in December 2023, extended compliance dates to address compliance and operational questions. Commissioner Mark T. Uyeda highlighted collaboration with federal regulators, and new FAQs clarify the rules' applicability to mixed CUSIP triparty repos.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-09-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) released the 2025 Congress Columns, targeting asset management and bank savings professionals. The publication outlines sector developments, FSMA's expectations, and insights from supervisory actions. It complements the FSMA's general annual report.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-09-30•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority's latest Conduct In Focus details updated complaints statistics and conduct observations, including findings from a mystery shopping exercise on insurance roadshows and digitised sales systems. The report highlights increased complaints in early 2025, issues in roadshow activities, and the need for robust control frameworks. It also addresses regulatory considerations for run-off portfolio management, broker disclosure on offshore products, and the impact of ceasing Mandatory Provident Fund-related telemarketing.
Policy & regulationGuidance & interpretationSales and distribution
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2025-09-30•Global•Financial Markets Standards Board
Wells Fargo Securities International Limited has joined the Financial Markets Standards Board as a Full Member, enhancing the Board's capacity to develop and implement standards in wholesale financial markets. This addition underscores the global scope of FMSB's work as it marks its tenth year.
Institutional developmentCooperation & capacity buildingOther
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2025-09-30•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority has authorized trading units in the UCITS fund "Apollo European Equity" on Montenegro’s capital market. Managed by Security Kapitalanlage AG, the fund focuses on European equities in developed markets, with at least 51% of assets in euro area equities and a 10% cap on derivatives. The fund aims to generate high current income through a diversified strategy, enhancing the range of UCITS instruments in Montenegro.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in QRF financial instruments (ISIN BE0974272040) on Euronext Brussels at the company's request. The suspension is effective from 30 September 2025 at 09:00 CET until a press release is issued.
SupervisionInterventionsTrading
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2025-09-30•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) announced the resumption of trading in MEXEDIA S.p.A. shares on Euronext from 1 October 2025, following a suspension due to suspected market manipulation. The AMF identified potential "bouilloire" (pump and dump) practices and advised investors to remain vigilant, urging those solicited aggressively to retain evidence. Euronext purged orders from the order book as of 11 September, and the AMF continues its investigation.
SupervisionInterventionsMarket abuse
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2025-09-30•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) released Report 816, highlighting deficiencies in the financial reporting and audit of superannuation funds. The review of 60 registrable superannuation entities (RSEs) and five audit files revealed inconsistent categorization of unlisted investments, inadequate disclosure of sponsorship and advertising expenses, and insufficient audit evidence for investment valuations. ASIC plans to address these issues with auditors and will continue its surveillance in 2025-26, considering regulatory action for significant breaches.
SupervisionReviews, inspections & stress testsAuditingAccounting and financial reporting
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2025-09-30•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) urges financial advisers and AFS licensees to correct the Financial Advisers Register, warning inaccuracies could prevent advisers from providing advice from 1 January 2026. At least 3,459 providers may be affected due to unmet qualification standards. AFS licensees must update the Register via ASIC Connect within 30 business days to avoid penalties, with ASIC continuing to monitor for further regulatory actions.
Policy & regulationGuidance & interpretationLicence approval
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2025-09-30•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market updated its 2025 normative activities plan and established procedures for Real Estate Transaction Fund certificates. Amendments were made to NSSMC Decision No. 198, and the Commission approved the draft Law on digitalizing enforcement proceedings. It also registered the share issue of JSC “ZNVCIF STANUM INVEST” and approved significant participation changes in LLC “AMC “STRONG CAPITAL” and a compliance manager for LLC “AMC “DNIPRO INVESTOR”.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-30•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a draft regulation updating real estate transaction fund certificate procedures to align with financial instrument registration requirements. Key changes include electronic workflows, a document handling mechanism, and mandating financial and audit statements in XBRL format. Issuers must complete a questionnaire in the Commission's information system for certificate registration.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-30•Peru•Central Bank of Peru
The Central Bank of Peru reported that the outstanding balance of housing purchase loans grew 6.4% year on year in August 2025, marking the highest annual growth rate since March 2023. The expansion was primarily driven by mortgages in soles, which increased 7.5% year on year. Total outstanding mortgage credit reached PEN 73,303 million, with dollar-denominated mortgages comprising 6.5% of the portfolio.
Data & statisticsLending
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2025-09-30•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has updated its survey methodology for inflation and exchange rate expectations to enhance the capture of economic agents' perceptions. Key changes include a refreshed sample split into four subpopulations and a rotation approach to improve response rates. The updated methodology, piloted from June to August 2025, showed no significant differences from previous samples, ensuring continuity and comparability.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2025-09-30•Georgia•National Bank of Georgia
The National Bank of Georgia released updated International Investment Position statistics, revealing a net IIP of USD -33.0 billion (GEL -89.9 billion) as of 30 June 2025, equating to -93.5% of GDP. The net position worsened by USD 1.4 billion from the previous quarter, with international assets increasing by USD 888.1 million and liabilities rising by USD 2.3 billion.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Georgia•National Bank of Georgia
The National Bank of Georgia released updated external debt statistics, showing Georgia's gross external debt at USD 26.5 billion (75.1% of GDP) as of June 30, 2025. The increase of USD 1.1 billion in Q2 2025 was mainly due to exchange rate changes. Public sector external debt was USD 11.5 billion, with significant portions in general government debt and National Bank liabilities.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Georgia•National Bank of Georgia
The National Bank of Georgia's Governor, Natia Turnava, met with SWIFT representatives at the SIBOS conference to discuss cooperation, including introducing SWIFT's core products in Georgia and enhancing payment systems. Discussions included implementing ISO 20022 by commercial banks and improving financial infrastructure compatibility. The central bank plans to launch a 24/7/365 Instant Payments System and invited SWIFT to host a meeting in Tbilisi.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-09-30•Georgia•National Bank of Georgia
The National Bank of Georgia reported a 60% year-on-year improvement in Georgia's current account deficit for Q2 2025, now at USD 272.9 million, or 3.0% of GDP. The goods trade deficit decreased by 10.9% to USD 1.6 billion, with exports rising 21.1% and imports increasing 5.9%. Services exports grew 7.8%, with notable contributions from travel, computer and information services, and transportation services.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Georgia•National Bank of Georgia
The National Bank of Georgia released a study on the agricultural sector, analyzing market trends, credit portfolios, and borrower solvency. It highlights stable credit growth, a high share of lari-denominated lending, and low concentration, supporting the sector's sustainability and growth potential. The bank plans to continue publishing sectoral research, having previously covered industries such as alcoholic beverages and real estate development.
ResearchMarket development
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2025-09-30•United States•National Credit Union Administration
In September 2025, the United States National Credit Union Administration (NCUA) issued five prohibition actions, including four consent-based Orders of Prohibition and one conviction-based Notice of Prohibition, permanently barring individuals from participating in any federally insured depository institution. The conviction-based notice involves LaMarcus Tinker, convicted of unlawful financial card activities, while the consent-based orders involve former employees of Modern Employees Federal Credit Union and MSD Federal Credit Union. NCUA's enforcement orders are available on its Administrative Orders webpage.
EnforcementInvestigations & enforcement actions
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2025-09-30•United States•National Credit Union Administration
The US National Credit Union Administration announced USD 3,465,000 in Community Development Revolving Loan Fund grants for low-income-designated credit unions in 2025, with awards expected for 85 to 115 credit unions. Applicants can apply under two initiatives, with unsuccessful applications eligible for conversion to loan applications. Grants will be offered in six categories, including a pilot initiative for innovation and funding for new charters, outreach, internships, technology, cybersecurity, AI, and training.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-09-30•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority has extended EGH Chaine El Aurassi Spa’s deadline to publish its financial information for the first half of 2025. The new deadline is 30 November 2025.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-09-30•China•Central Bank of the Republic of China
The Central Bank of the Republic of China released August financial market statistics, highlighting CNY 7.43tn in total bond issuance and CNY 192.0tn in bonds under custody. Key figures include CNY 1.33tn in government bonds, CNY 1.24tn in corporate credit bonds, and CNY 2.70tn in negotiable certificates of deposit. Interbank cash bond turnover reached CNY 33.1tn, with overseas institutions holding CNY 3.9tn, primarily in government bonds.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-30•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) reported that its Life Insurance Policy Locator tool has helped consumers uncover over USD 13 billion in benefits since its launch in November 2016. As of 31 August 2025, insurers have matched USD 13.18 billion in benefits, marking a USD 3 billion increase from the previous year. The tool has processed over 1.17 million search requests, resulting in more than 611,000 matches.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-09-30•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg CSSF updated its AML/CFT Market Entry Form (MEF) requirements, clarifying that only "parent requests" trigger MEF submission for funds and investment fund managers. From 23 September 2025, information on Portfolio Managers and Investment Advisors is no longer required in the MEF for authorised and registered IFMs. The CSSF also emphasized monitoring unsubmitted MEFs for over a year, with guidance available through the eDesk portal.
Policy & regulationGuidance & interpretationLicence approval
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2025-09-30•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier reported that a merger between two banks distorted year-on-year percentage changes in Luxembourg's banking sector data for H1 2025. Profit before provisions and taxes fell by 5%, with a higher cost-to-income ratio of 45.3%. Net interest income declined by 4.6% due to falling interest rates, while net fee and commission income and other net income rose by 2.1% and 19.7%, respectively.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-30•Lithuania•Bank of Lithuania
The Bank of Lithuania's provisional Q2 2025 data shows a 30.8% year-on-year decline in foreign direct investment inflow to EUR 470.8 million, while Lithuania's direct investment abroad recorded a negative flow of EUR 750.6 million. FDI inflows were driven by reinvestments and domestic investment in debt instruments, with significant contributions from the Netherlands, the US, and Latvia. Cumulative FDI in Lithuania increased by 5.9% to EUR 40.7 billion, representing 50.2% of GDP as of 30 June 2025.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Laos•Bank of the Lao
The Bank of the Lao and Happy Event Co., Ltd announced the "Lao Money Expo 2025" to be held in December in Vientiane, focusing on economic growth and financial literacy. The event aims to connect financial institutions, investors, and the public, facilitating business funding and promoting safe financial practices amid digital advancements. A memorandum of understanding was signed to support the expo's delivery.
Financial literacy & educationOther
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2025-09-30•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia highlighted measures to strengthen its capital markets, including the creation of the "Colombia Destino de Inversión" working table and Decree 1239 of 2024 to enhance market liquidity and efficiency. SFC Circulars 010 of 2024 and 011 of 2025 introduce additional technical and operational measures. The presentation also emphasized the SFC's autonomy and capacity in supervision and regulation.
Policy & regulationRules & requirementsMarket development
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2025-09-30•Ghana•Securities and Exchange Commission Ghana
The Securities and Exchange Commission, Ghana has released the Securities Industry (Dealing in Government of Ghana Securities) Guidelines 2025, detailing licensing and operational requirements for entities dealing in these securities. The guidelines mandate licensing, capital maintenance, and compliance with conduct standards, including KYC procedures and AML/CFT/CPF measures. Non-compliance may lead to penalties, with a six-month transitional period for adherence.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-30•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency's House Price Index revealed a 0.1% decline in U.S. house prices in July, with a 2.3% increase from July 2024 to July 2025. June's 0.2% decline remained unchanged. Monthly price changes varied across divisions, with the Middle Atlantic at -1.2% and the East North Central at +0.3%, while all divisions saw positive annual changes.
Data & statistics
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2025-09-30•New Zealand•Department of Internal Affairs
The Department of Internal Affairs, the Financial Markets Authority, and the Reserve Bank of New Zealand have issued updated customer due diligence (CDD) guidance for entities dealing with clubs, societies, co-operatives, sole traders, and partnerships. The guidance clarifies identification and verification requirements, addresses nominee directors and general partners, and provides insights on acting on behalf of others and interpreting trusts as customers under the Anti-Money Laundering and Countering Financing of Terrorism Act.
Policy & regulationGuidance & interpretationKYC
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2025-09-30•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has appointed Ms Alexandra Yeong as Interim Head of Investment Products, effective 1 November 2025, following Ms Christina Choi’s transition to Executive Director of Corporate Finance. Ms Yeong, who joined the SFC in 2007 and has been Senior Director of Investment Products since 2017, will oversee the division until a new Executive Director is appointed.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-30•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) seeks an interim order to freeze assets linked to a social media ramp-and-dump scheme involving Grand Talents Group Holdings Limited shares. The SFC's section 213 proceedings target 16 defendants for alleged share manipulation, restraining asset disposal up to HKD 394,067,589. An interim injunction has been granted against four defendants, with proceedings for the remaining 12 adjourned.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-09-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its bi-annual intermediated general insurance statistics for June 2025, detailing insurance placed with APRA-authorised general insurers, Lloyd’s underwriters, and unauthorised foreign insurers.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for August 2025, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-09-30•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority (FMA) released a seven-step checklist to help users identify fraudulent financial websites. Part of the “Let’s talk about money” series, the checklist advises reviewing legal notices, verifying contact details, and checking for an FMA licence. It warns against unrealistic returns and complex products, noting that scam sites often appear professional.
Financial literacy & educationFraud and scams
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2025-09-30•France•Bank of France
The Bank of France, with the National Archives, announced an exhibition on counterfeiting, "Fakes and forgers, from the Middle Ages to the present day," from 15 October 2025 to 2 February 2026. The Bank will hold a public workshop on identifying counterfeit banknotes using the "Touch, Look, Tilt" method. Payments Director General Erick Lacourrège emphasized the initiative's role in enhancing public awareness and security amid rising cash withdrawals, despite low counterfeiting levels.
Financial literacy & educationOther
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2025-09-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) published data on Hong Kong's foreign currency reserves and liquidity for August 2025, following the International Monetary Fund's Special Data Dissemination Standard. The HKMA also outlined its monthly publication schedule for Exchange Fund data, including four press releases covering monetary data and the Exchange Fund's balance sheet.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding online fraud linked to China CITIC Bank International Limited. The alert emphasizes that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-09-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the Exchange Fund's abridged balance sheet and Currency Board Account for August 2025, noting a decrease in total assets to HKD 4,070.2 billion. Foreign currency assets fell by HKD 36.1 billion due to US dollar sales, while Hong Kong dollar assets increased by HKD 3.7 billion. The Monetary Base and Backing Assets also declined, with the Backing Ratio adjusting to 109.78%.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's August 2025 residential mortgage survey reported declines in mortgage applications and approvals, with applications down 6.7% to 8,405 and approvals down 6.3% to HKD 28.7 billion. Primary market approvals fell 0.7% to HKD 10.7 billion, while secondary market approvals dropped 11.9% to HKD 14.6 billion; however, refinancing approvals rose 4.1% to HKD 3.3 billion. Loans drawn down increased 4.5% to HKD 19.0 billion, while outstanding mortgage lending slightly rose 0.1% to HKD 1,888.3 billion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported that total deposits with authorized institutions rose by 0.9% in August 2025, while total loans and advances fell by 0.4%. The Hong Kong dollar loan-to-deposit ratio increased to 74.6% as Hong Kong dollar deposits contracted faster than loans. The HKMA noted that monthly monetary statistics can be volatile due to various factors such as interest rate movements and seasonal funding demand.
Data & statisticsMonetary data
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2025-09-30•Global•Bank for International Settlements
The Bank for International Settlements' 2025 Triennial Central Bank Survey reveals global FX trading surged 28% to USD 9.6 trillion per day, with OTC interest rate derivatives up 59% to USD 7.9 trillion. The US dollar dominated FX trades, involved in 89% of transactions, while FX swaps remained the largest instrument. Major financial centres, particularly the UK and US, accounted for the majority of trading activity.
Data & statisticsFinancial and market indicatorsForeign exchange policy and markets
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2025-09-30•San Marino•Central Bank of San Marino
The Central Bank of San Marino (CBSM) summarized the IMF's 2025 Article IV mission statement, highlighting San Marino's solid economic growth and reduced vulnerabilities due to prudent fiscal policy. The IMF acknowledged improvements in banking-sector liquidity and asset quality, recommending accelerated bank asset restructuring and enhanced capital endowment. CBSM plans to publish a position paper on its reform agenda, aligning with European integration.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-09-30•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino has updated SEPA payment transaction rules, deferring the obligation for San Marino payment service providers to offer instant EUR credit transfers with Verification of Payee (VOP) until 9 July 2027. Regulation No. 2025-03, effective 8 October 2025, allows PSPs to provide instant transfers without VOP, provided users are informed. The regulation also permits users to adjust maximum transfer amounts and allows PSPs to implement new services using a unilateral variation procedure.
Policy & regulationRules & requirementsPayments and payment systems
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2025-09-30•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the first virtual meeting of the BRICS Reinsurance Task Force, focusing on market structure, financial volatility, and emerging risks. Discussions included cooperation initiatives to enhance (re)insurance capacity and highlighted regulatory, legal, and tax differences among members. The task force, established by BRICS leaders, will continue its mandate through 2025.
Policy & regulationCooperationCross-border cooperation
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2025-09-30•Tajikistan•National Bank of the Republic of Tajikistan
Firdavs Tolibzoda, Chairman of the National Bank of Tajikistan, addressed the 7th Central Banks Forum of the Organisation of Islamic Cooperation in Istanbul, highlighting Tajikistan's achievements under the OIC-2025 programme. He reported reductions in poverty and non-performing loans, increases in bank assets and wages, and a surge in digitalisation and cashless payments. Tolibzoda emphasized the importance of regional solidarity and cooperation among OIC member states.
OtherCross-border cooperation
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2025-09-30•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan will launch a "Unified Electronic Insurance System" on 22 October 2025 to digitize insurance processes, enhancing transparency and consumer protection. The system enables verification of compulsory civil liability motor insurance via the central bank's portal. A Telegram-based process is available for submitting policy images due to potential initial technical issues, with no fines imposed until all active policies are uploaded.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-30•Spain•Bank of Spain
The Bank of Spain reported that Spanish general government debt for Q2 2025 was 103.4% of GDP, a decrease of 1.8 percentage points from the previous year, with the nominal debt stock reaching EUR 1,691 billion, up 4% year on year. Central government debt rose to EUR 1,548 billion, while Social Security administrations’ debt increased to EUR 126 billion. Autonomous communities and local corporations reported mixed changes, with notable regional variations in debt.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has released a consultation paper proposing to allow all licensed deposit takers under the Deposit Takers Act 2023 to use the term 'bank', alongside a consultation on regulations to define the prudential regulatory perimeter. The licensing process is anticipated to start on 1 June 2027, with changes to restricted-word use effective from 1 December 2028.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank's September 2025 Quarterly Bulletin reports a rise in real GDP growth to 0.8% in Q2 2025, driven by household consumption, despite a contraction in gross fixed capital formation and unemployment rising to 33.2%. Headline consumer price inflation increased to 3.5% in July before easing to 3.3% in August, influenced by higher food prices and water tariffs. The Monetary Policy Committee maintained the repo rate at 7.00%, while the trade surplus narrowed and the current account deficit widened to ZAR 82.8 billion.
Data & statisticsEconomic data and developments
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank released its September 2025 Quarterly Bulletin on money market and interest rates, detailing time series for key short-term benchmarks and instruments. It includes data on the repurchase rate, prime lending rate, South African Benchmark Overnight Rate (Sabor), South African Rand Overnight Index Average (ZARONIA), and other rates. It also provides definitions and methodological notes, highlighting changes like the replacement of SAONIA by Sabor in 2007 and the implementation of ZARONIA in 2023.
Data & statisticsFinancial and market indicators
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank released the September 2025 Quarterly Bulletin time series description file, available as a downloadable CSV. It includes time series codes, descriptions, and metadata for SARB's balance sheet, operations, liquidity facilities, and banking institutions' assets and liabilities.
Data & statisticsMonetary data
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank released its template on international reserves and foreign currency liquidity for end-August 2025, reporting official reserve assets at approximately USD 70.416 billion. Foreign currency reserves totaled USD 49.671 billion, with USD 35.286 billion in securities and USD 14.385 billion in deposits. Predetermined net drains within one year included USD 4.039 billion in principal and USD 1.734 billion in interest outflows.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) participated in the 14th National Congress of the National Association of Accountants of Pension Entities, discussing developments for closed complementary pension entities (EFPC). PREVIC's Director of Standards highlighted new guidelines under CNPC Resolution 62/2024 and adjustments to PREVIC Resolution 23/2023, affecting EFPC management. Additionally, PREVIC launched the PREVIC – Cidadão information panel, providing data on 270 EFPC and 1,180 closed pension plans.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-09-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) joined the Paraná launch of the Mixed Parliamentary Front for Strengthening Closed Supplementary Pension Entities, emphasizing support for the regime. PREVIC superintendent Ricardo Pena noted that around 180 bills in Congress, mostly tax-related, could negatively impact participants' rights. The parliamentary front aims to enhance legislative engagement and will hold further regional events to support the sector.
Policy & regulationCooperationOther
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2025-09-30•United States•New York State Department of Financial Services
The New York State Department of Financial Services has updated its guidance on virtual currency custody, emphasizing customer retention of beneficial interest in assets during insolvency. The guidance details expectations for custodial structures, acceptable sub-custodians, and sub-custodial service agreements, while reinforcing sound custody and disclosure practices. This 2025 update supersedes the January 2023 guidance.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank released the statistical tables section of its Quarterly Bulletin No. 317, updating South African macroeconomic series. Key data include a 2024 current account deficit of ZAR 47,991 million, a trade balance surplus of ZAR 214,306 million, and a financial account surplus of ZAR 65,905 million. The bulletin also reports a 0.8% real GDP growth in 2025 Q2 and a 1.4% decline in gross fixed capital formation.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank's Quarterly Bulletin article reaffirms April 2020 as the business cycle trough and March 2022 as the peak, marking the start of a downward phase from April 2022. The analysis uses a growth-cycle approach with various indicators and addresses COVID-19 outliers. Structural constraints and global shocks have contributed to weak post-pandemic growth, with no new trough yet identified.
ResearchEconomic data and developments
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in South Africa's gross external debt to USD 179,244 million as of 30 June 2025, up from USD 173,090 million at 31 March 2025. The general government remains the largest component at USD 87,456 million, primarily in long-term debt securities. Other significant components include deposit-taking corporations at USD 33,393 million and direct investment at USD 24,292 million.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in South Africa's net international investment position (IIP) to ZAR2 475 billion at the end of June 2025, up from ZAR2 264 billion in March 2025, driven by valuation gains in foreign assets. Foreign assets rose 4.8% to ZAR9 977 billion, while foreign liabilities increased 3.4% to ZAR7 501 billion. The net IIP as a share of GDP rose to 33.2% from 30.6%.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Europe•European Central Bank
The European Central Bank's working paper explores how pension arrangements interact with monetary policy using a New-Keynesian model with age cohorts. It finds that monetary-policy shocks impact age groups variably and that pension generosity and safe-asset holdings distribution significantly influence monetary transmission. It suggests central banks consider age and employment distributions of asset holders when evaluating rate changes.
ResearchOther
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2025-09-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 0.9% increase in foreign currency deposit unit loans in Q2 2025, totaling USD 15.93 billion, alongside a 10.0% rise in foreign currency deposits to USD 60.67 billion. Philippine-based borrowers comprised 63.5% of FCDU loans, with significant borrowing by merchandise and service exporters, towing and trucking industries, and power generation companies. Medium- to long-term loans accounted for 79.0% of outstanding loans, reflecting USD 6.76 billion in new loans and USD 6.64 billion in payments.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-09-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released updated International Investment Position data, showing a net external liability of USD 68.3 billion in June 2025, a 44.1% increase from the previous year. Foreign investments in Philippine assets grew by 2.7% to USD 325.2 billion, while Philippine investments abroad rose by 0.9% to USD 256.9 billion. The IIP measures the economy's external financial assets and liabilities, assessing financial linkages and external vulnerability.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released preliminary Q1 2025 data, showing a 5.4% increase in the domestic economy's net external liability to PHP 3.7 trillion. This rise was due to higher nonresident holdings of government securities and increased foreign borrowings by depository corporations. The general government's net debtor position expanded, while households saw a slight increase in their net creditor position due to higher investments in equity and investment fund shares.
Data & statisticsBalance of payments and other external statistics
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2025-09-30•Europe•European Central Bank
The European Central Bank's Working Paper No 3126 analyzes sector-level financial accounts data from 21 advanced economies since 1980, highlighting the foreign sector as a key driver of rising safe-asset holdings relative to GDP. Increased foreign demand for safety correlates with domestic credit booms and weaker medium-term real GDP growth, with fluctuations in safe-asset holdings primarily driven by the foreign and financial sectors. Foreign net safe-asset acquisition is largely met by domestic financial-sector net issuance, influencing domestic risky lending and GDP growth.
ResearchMarket development
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2025-09-30•Europe•European Central Bank
European Central Bank President Christine Lagarde discussed the shift to "geoeconomics" and US tariffs' impact on the euro area, noting weaker growth rather than higher inflation. She highlighted the ECB's 100 basis point rate cut since December, with medium-term inflation on track. Lagarde emphasized persistent downside growth risks, with severe trade-tension escalation potentially reducing growth by 1 percentage point over the projection horizon.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2025-09-30•Europe•European Central Bank
The European Central Bank released the disaggregated financial statement of the Eurosystem as of 29 August 2025, detailing assets and liabilities across euro area national central banks and the ECB. Key figures include EUR 4,203,525 million in securities of euro area residents, EUR 972,472 million in gold, and EUR 1,592,218 million in banknotes in circulation. The statement highlights that "capital and reserves" may be negative for some national central banks due to losses.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-30•Europe•European Central Bank
ECB Executive Board member Piero Cipollone discussed the Eurosystem's digital finance response at a Deutsche Bundesbank event, highlighting central bank money advancements in retail, wholesale, and cross-border payments. Initiatives include a digital euro, euro banknote enhancements, and DLT integration in wholesale markets via projects like Pontes and Appia. Future steps involve tokenised transactions in central bank money, digital assets as collateral, and exploring cross-border payment system linkages.
Policy & regulationReform agendas & prioritiesCBDC