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2025-09-22•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has released draft amendments to the Companies (Further Issue of Shares) Regulations, 2020, for public comment. The proposals aim to streamline share issues with varied rights by listed companies, ensuring voting shares receive dividends and ordinary shares represent at least 75% of voting power. The draft follows stakeholder engagement and seeks to enhance corporate governance, transparency, and price discovery.
Policy & regulationRules & requirementsCorporate governance
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2025-09-22•Indonesia•Bank Indonesia
Bank of Indonesia announced that ASEAN member states are enhancing their commitment to Local Currency Transactions (LCT) for cross-border trade and investment, with usage growing rapidly. As of July 2025, LCT reached USD14.1 billion, a 112% increase year-on-year. An agreement with Bank Negara Malaysia and the Bank of Thailand aims to harmonise LCT operational guidelines to support standardised operations and facilitate negotiations.
Policy & regulationCooperationCross-border payments
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2025-09-22•China•Central Bank of the Republic of China
The People's Bank of China (PBOC) Party Committee released a report on remediation measures after a Central Committee inspection, highlighting tightened governance, oversight, and control. Key initiatives include enhanced policy frameworks, risk monitoring, and administrative enforcement, alongside establishing a Macroprudential and Financial Stability Committee. The PBOC will continue follow-up reviews and accelerate unfinished tasks, focusing on cybersecurity, financial market oversight, and legislative work.
Institutional developmentGovernanceAuditing
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2025-09-22•Ukraine•National Bank of Ukraine
The National Bank of Ukraine hosted the Second International Scientific Conference “Money & Banking: The History and Future of Money” on 18–19 September 2025, focusing on monetary history and modern banknote and coin design. Deputy Governor Oleksii Shaban highlighted the symbolism of the hryvnia and the development of central bank digital currencies. The event featured 70 researchers and central bank representatives discussing euro design, coin initiatives, and numismatic restoration.
ResearchOther
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2025-09-22•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier has introduced a single entry point on its website for accessing information on investment vehicles and fund managers. This feature, effective from 19 September 2025, organizes navigation by major topics and category filters to enhance search simplicity, transparency, and accessibility.
Policy & regulationImplementation, projects & pilotsDisclosures
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2025-09-22•Portugal•Bank of Portugal
The Bank of Portugal reported a EUR 1.2bn increase in non-financial sector indebtedness for July 2025, totaling EUR 848.2bn. Public sector debt rose by EUR 1.0bn, driven by non-resident investment in long-term government securities, while private sector debt increased by EUR 0.2bn, with household debt reaching a record high.
Data & statisticsBalance of payments and other external statistics
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2025-09-22•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance announced a meeting between Deputy Prime Minister and Finance Minister Marko Primorac and Slovenia’s Deputy Prime Minister and Finance Minister Klemen Boštjančič to enhance bilateral cooperation on capital markets. The discussions, involving expert delegations and institutional representatives, aimed at operational cooperation and joint advocacy to support regional capital market development. This follows the recent signing of a memorandum of cooperation in Zagreb, marking the start of deeper financial integration between the two countries.
Policy & regulationCooperationCross-border cooperation
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2025-09-22•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
Botswana's Non-Bank Financial Institutions Regulatory Authority has issued regulations detailing licensing fees for non-bank financial institutions for the 2025/26 financial year. These regulations, made under section 38 of the Non-Bank Financial Institutions Regulatory Authority Act, are outlined in Statutory Instrument No. 115 of 2025.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-09-22•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) introduced Gabriel Bernardino as the new Chair of the Board of Directors, succeeding Margarida Corrêa de Aguiar. Bernardino emphasized the importance of insurance and pension funds in resilience and called for reforms to address protection gaps. ASF acknowledged Corrêa de Aguiar's contributions to institutional strengthening and sector credibility.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-22•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina released data on the banking system entities as of 30 June 2025. The information is presented in tables and charts.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-22•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia appointed H.E. Dr. Eyob Tekalign Tolina as its new Governor. Dr. Eyob previously served as State Minister at the Ministry of Finance and has extensive experience with international organizations and the private sector.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-22•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission is consulting on an investor identification regime for the exchange-traded derivatives market, extending the existing securities framework to include futures, options, and stock options. Licensed corporations and registered institutions must submit client identity information to a central repository, with client consent required under the Personal Data (Privacy) Ordinance.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-09-22•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has issued a notice of proposal to refuse the renewal of Derek Chapman's life and accident and sickness agent licence, citing unsuitability under Ontario's Insurance Act. FSRA alleges Chapman lacks good character and reputation as required under section 4(1) of Ontario Regulation 347/04. Chapman has requested a hearing before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actionsFitness and propriety
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2025-09-22•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia clarified its role in foreign payments by public entities, emphasizing it only executes transfer instructions as the government's financial agent. The Ministry of Economy and Public Finance manages the process, while each public institution's executive authority is responsible for fund use and administration. The bank's role is strictly operational, without involvement in contract negotiations or defining resource destinations.
Policy & regulationGuidance & interpretationOther
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2025-09-22•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds Administrators proposes expanding its regulatory sandbox to include both supervised and non-supervised entities. The draft sets entry requirements for non-supervised participants and extends eligibility to savings and credit cooperatives and traffic accident fund associations. The proposal aims to test new financial products and services in a controlled environment, supporting financial inclusion while maintaining consumer protection and transparency.
Policy & regulationRules & requirementsFintech and insurtechFinancial inclusion
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2025-09-22•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake banking login screens, and phishing emails targeting banks like The Bank of East Asia and Bank of China (Hong Kong). The alert stresses that banks won't send transaction links or request sensitive information via phone, email, or SMS. Affected customers should contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-09-22•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released a report on Hong Kong's long-term investing landscape amid digitalization. It highlights a strong financial knowledge base among residents but identifies a need for more decumulation products and increased awareness of long-term financial planning options. High digital adoption is noted, with significant use of mobile and web platforms for distributing financial products, and frontier technologies are seen as key to innovation and efficiency.
ResearchFinancial literacy and education
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2025-09-22•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about 11 websites not authorized to provide investment services under Article 5 of Law 87(I)/2017. CySEC advises investors to verify the licensing status of firms via its website register before engaging in business.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-22•Samoa•Central Bank of Samoa
The Central Bank of Samoa is seeking a Payments System Expert for a 12-month part-time consultancy under the Samoa Finance Sector Resilience and Development Project 2025–2029, funded by the World Bank, to support payments oversight and national payment system reform. The role involves regulatory guidance, stakeholder engagement, policy proposal contributions, and ensuring project milestones are met.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-22•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has deregistered James Green & Co under the Designated Businesses (Registration & Oversight) Act 2015, effective 22 September 2025, pursuant to section 12(1)(a).
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
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2025-09-22•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority issued a warning about Contract Resolution Experts, which falsely claims to represent First National Trustee Company Limited. The entity, not incorporated in the Isle of Man, is suspected of fraudulent activities, including identity theft. Individuals contacted by 'James Owen' are advised to verify through the Isle of Man Companies Registry and report concerns to local police or the Authority.
SupervisionAlertsFraud and scams
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2025-09-22•Global•Bank for International Settlements
The Bank for International Settlements released BIS Paper No 160, examining the green transition's impact on inflation, output, and monetary policy. The study highlights that fossil fuel restrictions may lead to a more inflationary and volatile economy, complicating central banks' efforts to balance inflation targets with economic activity. It suggests subsidies or credit policies for clean investment could mitigate output costs during this transition.
ResearchClimate risk and sustainable finance
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2025-09-22•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission announced a new supervisory policy package effective in 2026, focusing on IT governance, technology risk management, and data governance to address cyber threats. It incorporates findings from the IT and Cyber Risk Assessment Framework and IT audit reports into an expanded Early Warning System to monitor insurers' IT risk management capabilities. Additionally, draft guidance on artificial intelligence application and enhanced digital data disclosure for insurers were discussed.
SupervisionSupervision approach, priorities & toolkitCyber resilience
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2025-09-22•Mexico•CONDUSEF
Mexico's CONDUSEF reported 5,592 complaints in Sinaloa from January to August 2025, a 1.5% increase from 2024, with claims totaling MXN 251.5 million, down 39% year on year. Complaints mainly involved debit and credit cards and motor insurance, with banking accounting for 62.8% of cases. CONDUSEF noted 43.6% of banking complaints involved possible fraud, mainly unrecognised transactions, and emphasized its free, online complaint handling services.
Data & statisticsComplaints and dispute resolution
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2025-09-22•Middle East•Arab Monetary Fund
The Arab Monetary Fund and the Central Bank of Jordan held a workshop on virtual assets at the Jordan FinTech Festival 2025, focusing on policy design and implementation under Jordan's new Virtual Assets Law. Discussions emphasized balancing innovation with financial stability safeguards, addressing risks like money laundering and consumer protection, and highlighted digitalisation and technology's role in updating supervisory frameworks.
Policy & regulationCooperation
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2025-09-22•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino signed a Memorandum of Understanding with Luxembourg’s Commissariat aux Assurances to enhance bilateral cooperation and information exchange in insurance supervision and regulation. The MoU aims to support aligned supervisory approaches for Luxembourg-based insurers in San Marino.
SupervisionCooperationCross-border cooperation
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2025-09-22•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has formed a consultative group to propose regulatory improvements for catastrophe insurance, focusing on natural disasters. Part of SUSEP's 2025 Regulation Plan, this initiative aims to enhance the insurance sector's role in preventing and responding to climate-related catastrophes. The group will include SUSEP representatives, insurers, policyholders, and other stakeholders to foster dialogue and consensus.
Policy & regulationCooperationNature-related risk
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2025-09-22•Spain•Bank of Spain
The Bank of Spain released Governor José Luis Escrivá’s presentation on Spain’s economic outlook, revising 2025 GDP growth to 2.6% and projecting inflation at 2.5% in 2025 and 1.7% in 2026. It highlighted an EU-US agreement on a 15% minimum tariff on European exports, the Federal Reserve's rate cut to 4.0%–4.25%, and Spain's challenges, including high public debt, fiscal planning issues, and a housing supply shortfall. Escrivá also noted skills mismatches in the labor market and a persistent productivity gap linked to institutional quality.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-09-22•Europe•European Central Bank
The European Central Bank's Economic Bulletin shows that trade tensions and tariffs are altering European households' expectations for inflation, finances, and growth, affecting consumption. A net 40% viewed tariffs as inflationary, with expectations rising by up to 0.2 percentage points at the one-year horizon. Additionally, 26% switched from US products, while 16% reduced overall spending, mainly on discretionary items.
ResearchConsumer and investor protection
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2025-09-22•Europe•European Central Bank
The European Central Bank's Economic Bulletin shows hybrid working is the most common and preferred remote-work arrangement among euro area employees, with most unwilling to accept significant wage cuts for this option. The ECB Consumer Expectations Survey indicates 70% of employees would not accept any pay cut for hybrid work, with an average acceptable reduction of 2.6%. Preference for remote work is higher among younger workers, those with children, and those with longer commutes.
ResearchOther
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2025-09-22•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam will issue a New Family Banknotes Series in the first half of 2026, covering five denominations from BND1 to BND500. The new notes will feature enhanced security measures, retain national iconography, and replace "Ringgit" with "Brunei Dollars" to align with the Currency Order, 2004. A DOMINO tactile feature will be introduced to assist visually impaired users.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-09-22•South Africa•South African Reserve Bank
The South African Reserve Bank released a consultation paper from the Corporation for Deposit Insurance (CODI) proposing phased increases in deposit insurance premiums to strengthen the Deposit Insurance Fund and reduce reliance on bank-provided liquidity tier contributions. The plan outlines premium increases from 0.2% to 0.5% and a reduction in liquidity tier requirements from 3% to 1% by 2033/34, with adjustments contingent on resolution support needs. Feedback from banks is sought on the proposal's rationale, timeline, and impacts.
Policy & regulationRules & requirementsOther
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2025-09-22•Europe•European Central Bank
The European Central Bank's Working Paper No 3116 examines the impact of global oil supply news shocks on firm-level investment in Europe and the United States. Findings indicate European firms significantly reduce capital expenditure and R&D spending post-shock, unlike their US counterparts, highlighting European vulnerability to energy price volatility. The study suggests the US shale revolution may influence these differing responses, impacting energy security and capital market policies.
Research
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2025-09-22•Europe•European Central Bank
The European Central Bank's Working Paper No 3117 evaluates the macroeconomic impact of US tariffs on imports from China and the euro area using the ECB-Global 3.0 model. Tariffs increase import prices, affecting exchange rates and monetary policy, leading to a trade-off between inflation control and output stabilization. Under a severe escalation scenario, the model predicts significant USD appreciation, a sharp decline in US imports, and notable GDP contractions in the US, China, and the euro area, with varying inflation and policy rate adjustments.
Research
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2025-09-22•Europe•European Central Bank
European Central Bank economists evaluate euro area dealer banks' ability to handle increased sovereign bond issuance as Eurosystem bond holdings decrease. The analysis finds intermediation capacity generally sufficient, with moderate constraints and stable market functioning, though potential non-linear constraints could arise with a sharp supply increase. Structural mitigants like enhanced central clearing and private netting solutions are suggested to address potential frictions.
ResearchMarket infrastructure
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2025-09-22•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority published its review of Catalist Markets Limited's compliance with market operator obligations under the Financial Markets Conduct Act 2013 for the period from 1 April 2024 to 31 March 2025.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-09-22•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines launched Paleng-QR Ph Plus in Iloilo to expand QR Ph-based digital payments in public markets and transport services. Part of the National Strategy for Financial Inclusion 2022–2028, it is supported by an executive order from the Iloilo provincial government and involves collaboration with the Department of the Interior and Local Government. As of 19 September 2025, 207 local government units nationwide have adopted the program.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-22•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines and the Department of the Interior and Local Government launched Paleng-QR Ph Plus in Iloilo Province to boost QR Ph digital payments in public markets and transport. The Iloilo government issued an executive order to promote QR Ph, with plans for local ordinances to support adoption and protect small businesses. Part of the National Strategy for Financial Inclusion 2022–2028, the program is already adopted in 207 local government units.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-22•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported a 30.9% month-on-month decline in total debt and equity issuance to KRW 19.5158 trillion for August 2025. Equity issuance fell 81.6% to KRW 886.2 billion, with a significant drop in IPOs and rights offerings. Debt issuance decreased 20.5% to KRW 18.6296 trillion, with notable declines in corporate bonds and financial debentures.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-22•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority will hold a Regulatory Townhall on 26 September 2025 to discuss the application of new rules and the revised scope of regulated money services, focusing on digital assets. Stakeholders can engage directly with AFSA before the implementation phase begins on 13 October 2025.
Policy & regulationGuidance & interpretationFintech and insurtech
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2025-09-22•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission announced a requirement for Tran Vu Minh Hai to pay a statutory fee of VND 1,000,000 to re-issue a securities practising certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to complete the procedure within one year will result in cancellation of the certificate.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-09-22•Poland•Ministry of Finance (Poland)
Poland's Ministry of Finance reported Minister Andrzej Domański's participation in the ECOFIN meeting in Copenhagen, focusing on simplifying EU rules to enhance competitiveness and assessing geopolitical impacts. Discussions emphasized reducing regulatory complexity without compromising financial stability or consumer protection. The meeting also addressed global political tensions, particularly Russian provocations, and the need for international cooperation on EU economic security and strategic autonomy.
Policy & regulationReform agendas & prioritiesRegulatory burdenDomestic cooperation
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2025-09-22•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the removal of Tatiana Evtushenkova from the UK Russia financial sanctions regime. The consolidated list has been updated accordingly. UK sanctions regulations are implemented in Guernsey under the 2020 Brexit Regulations.
EnforcementSanctions & designationsSanctions list update
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2025-09-22•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission reported a decline in the total net asset value (NAV) of Guernsey funds to GBP 270.9 billion at the end of Q2 2025, a decrease of GBP 7.7 billion (2.8%) for the quarter and GBP 24.8 billion (8.4%) year-on-year. Closed-ended funds accounted for GBP 226.6 billion, while open-ended funds stood at GBP 44.3 billion, both experiencing declines. Guernsey Green Funds reported a total NAV of GBP 4.5 billion.
Data & statisticsFinancial and market indicators
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2025-09-22•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission released two thematic reports on conflict of interest management in the investment and fiduciary sectors, finding that firms generally handle conflicts appropriately. The reports commend firms for using policies, procedures, and training, and urge them to review the reports for guidance on improving their practices.
Policy & regulationGuidance & interpretationCorporate governance
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2025-09-22•United Kingdom•Bank of England
The Bank of England confirms expanding mandatory ISO 20022 enhanced data requirements in CHAPS from November 2027, including Purpose Codes for all CHAPS payments within direct participants' control. The policy statement includes Legal Entity Identifiers (LEIs) for specific payment types and structured remittance, with industry engagement planned to develop guidance on Purpose Code implementation. The Bank will not reject CHAPS payments due to incomplete enhanced data before the end of 2028.
Policy & regulationRules & requirementsPayments and payment systems
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2025-09-22•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued an alert regarding the unauthorised use of the website https://drwinxglobal.com/index.html, which is not linked to any licensed or regulated entity by the FSA. The FSA advised investors and the public to thoroughly research entities and service providers before engaging in transactions.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-22•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued an alert regarding the website qtradealgo.com, which falsely claims to be authorised and regulated by the FSA under license number SD018. The FSA clarified that the entity is not known to it, does not hold a valid license, and is not regulated by the FSA. Investors and the public are urged to conduct thorough research before engaging with entities or services claiming FSA regulation.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-09-22•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has initiated a consultation under its Future Banking Data programme to eliminate certain banking regulatory reporting requirements, including 34 FINREP templates deemed duplicative or obsolete. The proposals also involve consolidating remaining FINREP requirements, aligning remittance dates, and deleting specific COREP and PRA templates. These changes target PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and qualifying parent undertakings.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-22•Poland•Central Bank of Poland
The Central Bank of Poland reported a rise in the M3 money supply by PLN 19.9bn in August 2025, reaching PLN 2,626.0bn, driven by increased household deposits and cash in circulation. Household deposits grew by PLN 7.2bn to PLN 1,391.6bn, while cash in circulation rose by PLN 4.9bn to PLN 430.5bn. On the liabilities side, central government net debt increased by PLN 8.6bn to PLN 507.7bn.
Data & statisticsMonetary data
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2025-09-22•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported on Governor Ahmet Ismaili’s discussion with the American Chamber of Commerce in Kosovo, focusing on financial sector stability and strategic reforms. Key topics included banking sector soundness, payments system advancements, and calls for regulatory development in alternative financing and market integration. The discussion highlighted Kosovo's progress in joining the Single Euro Payments Area and establishing a fast payments system.
Policy & regulationImplementation, projects & pilotsDomestic cooperation
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2025-09-22•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and Financial Conduct Authority issued guidelines under the Berne Financial Services Agreement (BFSA), detailing supervisory expectations and regulatory standards. Effective 1 January 2026, the BFSA allows UK insurers and Swiss firms to provide certain services without local authorisation. A memorandum with the Swiss Financial Market Supervisory Authority outlines cooperation and information sharing, with annexes detailing notification, registration, and reporting requirements.
Policy & regulationGuidance & interpretationCross-border payments
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2025-09-22•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the European Central Bank have signed a cooperation agreement to combat euro banknote counterfeiting in Kosovo. The agreement includes technical cooperation, information exchange via the European Central Bank’s Counterfeit Monitoring System, and integration into the Eurosystem's anti-counterfeiting network. It supports EU TAIEX initiatives to enhance Kosovo’s anti-counterfeiting framework and modernize cash processing.
Policy & regulationCooperationCross-border cooperation
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2025-09-22•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senate Banking Committee's Ranking Member Elizabeth Warren has requested an independent investigation by HUD’s Acting Inspector General into allegations that HUD leadership undermined fair housing and civil rights enforcement. Whistleblowers claim HUD withdrew discrimination cases, reduced staff, and imposed communication restrictions, potentially violating legal obligations. The investigation aims to assess HUD's compliance with federal civil rights and fair housing laws.
EnforcementWhistleblowing
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2025-09-22•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission announced a hybrid bondholders’ meeting for Sahakol Equipment Public Company Limited on 24 September 2025 to vote on debt restructuring for six bond series. Proposals include waiving defaults, extending maturities, shifting principal repayments to instalments, and increasing interest rates. The SEC mandated the bondholders’ representative to assess the restructuring implications and urged bondholders to review the information before voting.
SupervisionOtherCorporate governance
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2025-09-22•Thailand•Thailand Securities & Exchange Commission
The Securities and Exchange Commission, Thailand has launched a public consultation on draft amendments to enhance sustainability-related disclosures by listed companies, aligning with International Sustainability Standards Board (ISSB) Standards. The proposals aim to streamline disclosures, covering scope, GHG emissions, limited assurance, and transition reliefs, following approval by the Capital Market Supervisory Board.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-09-22•United Kingdom•Bank of England
The Bank of England is consulting on streamlining regulatory reporting by deleting 37 Prudential Regulation Authority (PRA) bank templates as part of its Future Banking Data project. These deletions target EU-inherited templates to eliminate redundancy, with projected industry savings of GBP 26 million annually. Concurrently, the Bank is consulting on removing six resolution-related templates and discontinuing Form BN, with staggered implementation timelines.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-22•Russia•Central Bank of Russia
The Central Bank of Russia has initiated its autumn Coin Week from 22 September to 4 October, enabling individuals to exchange coins for banknotes or deposit them at participating banks and stores. The campaign involves approximately 15,000 stores and 4,000 bank offices across 3,000 localities. The previous Coin Week in April returned 51 million coins to circulation, valued at RUB 242 million.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-09-22•Europe•European Banking Federation
The European Banking Federation (EBF) revised its stance on the European Commission’s Omnibus proposal, advocating for reduced administrative burdens and simplified European Sustainability Reporting Standards (ESRS). The EBF emphasizes harmonized ESG data and improved access to national datasets to lower compliance costs. It warns against overly prescriptive transition plans, suggesting they remain strategic tools for decarbonization, considering external factors and regional differences.
Policy & regulationGuidance & interpretationRegulatory burdenESG
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2025-09-22•Europe•European Fund and Asset Management Association
EFAMA urges EU policymakers to revamp digital assets and post-trade regulations for large-scale tokenised issuance, trading, and settlement. It advocates transitioning from the EU’s DLT Pilot Regime to a permanent regime, proposing a multipolar DLT cash-settlement ecosystem and clarifications for UCITS investments in MiCA-compliant e-money tokens. EFAMA also calls for securities rule amendments to accommodate DLT capabilities and suggests making the DLT Pilot Regime permanent with expanded asset eligibility and interoperability enhancements.
Policy & regulationReform agendas & prioritiesBlockchain and distributed ledger technology
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2025-09-22•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services urged SEC Chairman Paul Atkins to implement Executive Order 14330, enabling 401(k) investors to access alternative assets. The letter emphasizes revising SEC regulations to facilitate this access and calls for coordination with the Department of Labor. Lawmakers also advocate for reviewing bipartisan accredited investor legislation to expand investment opportunities for Americans.
Policy & regulationRules & requirementsOther
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2025-09-22•Hungary•National Bank of Hungary
The Committee on Economics endorsed Levente Sipos-Tompa as Deputy Governor of the National Bank of Hungary, effective October, to oversee financial supervision and consumer protection. His strategy emphasizes stability, independence, and transparency, focusing on price and financial stability, economic growth, and managing risks, including digital banking fraud and sustainability transitions. Previously, he was CEO and Chairman of the Hungarian Development Bank and held positions with the European Investment Bank and ELTI.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-22•Global•Financial Markets Standards Board
The Financial Markets Standards Board published a paper assessing the impact of structural and technological changes on market practices and conduct risks since the UK's Fair and Effective Markets Review. Key shifts include growth in non-bank intermediation, increased electronification, expansion in fixed income and digital assets, and changing geographical dynamics with new hubs and gradual de-dollarisation.
Research
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2025-09-22•Global•Financial Markets Standards Board
The Financial Markets Standards Board signed a Memorandum of Understanding with the United Kingdom Debt Management Office to formalize cooperation and focus on maintaining high standards in wholesale markets, including gilt and Treasury bill markets. This agreement underscores their existing relationship and aligns with FMSB's role in developing global standards for wholesale markets.
Policy & regulationCooperationCross-border cooperation
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2025-09-22•United Kingdom•HM Treasury
HM Treasury and the US Department of the Treasury have launched a Transatlantic Taskforce for Markets of the Future to enhance UK-US collaboration on capital markets and digital assets. The Taskforce will explore cooperation on digital assets, innovation in wholesale digital markets, and improving cross-border capital raising, with input from industry and experts. It will report to both finance ministries via the UK-US Financial Regulatory Working Group.
Policy & regulationCooperation
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2025-09-22•Chile•Central Bank of Chile
The Central Bank of Chile has completed the implementation of the ISO 20022 financial messaging standard for its High Value Payment System, aligning with SWIFT's global requirements. This transition, finalized in two stages, enhances transaction efficiency, interoperability, and security, while supporting both domestic and cross-border payments. Chile is now the second country in Latin America to fully adopt this standard.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-09-22•Albania•Bank of Albania
The Bank of Albania met with the Supervisory Board of the Albanian Association of Banks to enhance coordination on payment-system development, digitalisation, and electronic payments. The meeting addressed cross-border payments via SEPA schemes, set for 7 October 2025, aiming to reduce costs and increase transfer speeds. Discussions also covered lending trends and the need for improved infrastructure, consumer protection, and financial education to accelerate digital payment adoption.
Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
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2025-09-22•United States•Federal Reserve Board
Federal Reserve Board Governor Stephen I. Miran proposed integrating nonmonetary policy shifts into monetary policy analysis, suggesting the federal funds rate is overly restrictive. He estimates an appropriate rate in the mid-2 percent range, nearly 2 percentage points below the current level, warning of potential layoffs and higher unemployment. Miran highlighted changes in border, fiscal, trade, tax, and regulatory dynamics, and projected a decline in CPI rent inflation and the neutral rate of interest (r*) due to demographic and economic shifts.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-09-22•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets approved a prospectus for Costești village to issue MDL 4.5 million in municipal bonds for local infrastructure projects. The issuance includes 45,000 bonds across three classes with varying maturities and coupon rates, available to individuals and legal entities. BC “MAIB” SA is the intermediary, supported by the Independent Analytical Centre Expert-Grup and the Embassy of the Kingdom of the Netherlands.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-22•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) published an inspection report on Aktiv Eiendomsmegling Elverum AS, identifying deficiencies in risk assessment, supervision of assistant brokers, and anti-money laundering compliance. The report highlighted issues in project assignments, client fund security, and dual-track sales strategy routines. The firm plans to address these findings and provide the report to its auditor.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-09-22•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) reported progress after a Central inspection, detailing actions taken and areas needing long-term remediation. Key measures include enhancing internal accountability, encouraging long-term equity investments, and strengthening investor protection. The CSRC also outlined reforms in IPO regulation, enforcement against financial fraud, and improvements in cross-department coordination for overseas listings.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-22•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has revised the payment deadline for the 2025 supervision and control fee for virtual asset service providers (PSAV). Firms registered in the PSAV Registry as of 15 October 2025 must pay between 3 and 7 November 2025, while those registered after must pay within five business days of registration. Payments are to be made through the e-Recauda system.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-09-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the Japan Financial Services Agency (FSA) discussed ongoing cooperation in banking inspection and supervision, focusing on information exchange and experience sharing. The meeting reviewed 15 years of FSA support through training programs and addressed topics like sustainable finance and fintech. The FSA committed to long-term collaboration, including green finance and digital transformation initiatives.
SupervisionCooperationCross-border cooperation
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2025-09-22•Vietnam•State Bank of Vietnam
The State Bank of Vietnam proposed a draft revised Deposit Insurance Law to the National Assembly Standing Committee to update the 2012 framework and enhance depositor protection. Key changes include expanding the Deposit Insurance of Vietnam's (DIV) rights, flexible premium collection, and earlier payout rules. The National Assembly’s Economic and Financial Committee supports the revision but seeks further clarity on role delineation, premium calculation, and crisis provisions.
Policy & regulationRules & requirementsOther
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2025-09-22•Macao•Monetary Authority of Macao
The Monetary Authority of Macao has mandated banks and insurers to implement contingency measures for typhoon Ragasa to maintain financial service continuity. Banks must enhance system monitoring and ensure key services like online banking remain operational. Insurers are expected to keep emergency support accessible and activate "green channels" for expedited claims processing.
SupervisionInterventionsOperational risk and resilience
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2025-09-22•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority, UK Financial Conduct Authority, and Prudential Regulation Authority signed a memorandum of understanding under the Berne Financial Services Agreement to facilitate cross-border activity through mutual recognition in insurance and investment services. The MoU outlines operational arrangements, supervisory dialogue, and information-sharing channels. It takes effect when the BFSA enters into force in early 2026.
Policy & regulationCooperationCross-border cooperation
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2025-09-22•Argentina•Argentina Superintendency of Insurance
Argentina Superintendency of Insurance announced that Chamber E of Argentina’s National Commercial Court of Appeals upheld its decision to revoke TPC Compañía de Seguros S.A.’s authorization, order its dissolution and liquidation, and prohibit administrative acts. The court rejected TPC’s appeal, confirming the regulator's findings of irregularities and its legal authority in the matter.
SupervisionAuthorisations & approvalsPrudential risksSupervision process and methodologies
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2025-09-22•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan reported August 2025 turnover statistics for the Taipei foreign exchange market, with a total net trading volume of USD 1,016.5 billion and an average daily turnover of USD 48.4 billion. Interbank transactions comprised 73.8% of the volume, while third-currency trading was led by USD/RMB, EUR/USD, and USD/JPY pairs. Foreign exchange swaps dominated by instrument type, accounting for 56.4% of the total.
Data & statisticsForeign exchange policy and markets
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2025-09-22•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury and the United Kingdom’s HM Treasury have established a Transatlantic Taskforce for Markets of the Future to enhance collaboration on capital markets and digital assets. The Taskforce will explore coordination on digital assets, innovation in wholesale digital markets, and improved UK-U.S. capital market links. It will report to both finance ministries through the UK-U.S. Financial Regulatory Working Group.
Policy & regulationCooperationCross-border paymentsMarket development
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2025-09-22•Moldova•National Bank of Moldova
In August 2025, the National Bank of Moldova reported that net foreign currency supply from individuals covered 79.2% of demand from economic agents, down from 79.9% in July. Individuals’ net FX supply decreased by EUR 55.0 million to EUR 296.0 million, while sales to legal entities fell by EUR 65.5 million to EUR 373.6 million. The average leu-euro exchange rate shifted from 19.7842 in July to 19.5715 in August, with the euro comprising 75.0% of individuals’ net FX supply.
Data & statisticsBalance of payments and other external statistics
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2025-09-22•Moldova•National Bank of Moldova
The National Bank of Moldova highlighted Governor Anca Dragu’s remarks at the “New Technology for Old Markets” conference, emphasizing women’s leadership in economic transformation. Dragu moderated a panel discussing gender equality's economic effects and increasing women's leadership in financial institutions. The bank also referenced its “FinanciarELE” initiative, launched in March 2025, to support women's financial and leadership skills.
Financial literacy & educationDiversity and inclusion
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2025-09-22•Moldova•National Bank of Moldova
The National Bank of Moldova released August 2025 statistics on the domestic cash foreign exchange market, showing a total turnover of EUR 503.0 million. The euro dominated with EUR 369.5 million, accounting for 74.6% of turnover, while the US dollar and other currencies comprised 12.7% and 10.7%, respectively. Total turnover decreased by 2.6% from the previous month and was 4.4% lower than August 2024.
Data & statisticsCurrency and cash management
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2025-09-22•Moldova•National Bank of Moldova
The National Bank of Moldova released its August 2025 statistics on licensed banks' foreign currency assets and liabilities, showing total foreign currency assets of MDL 52.48bn and liabilities of MDL 52.31bn. The banking system's open foreign exchange position was long MDL 304.24m, primarily in euros, and short MDL -132.03m, mainly in US dollars. These aggregates are compiled from banks' open FX position reports and published monthly.
Data & statisticsCurrency and cash management
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2025-09-22•Isle of Man•The Treasury (Isle of Man)
The Treasury (Isle of Man) announced the removal of Tatiana Vladimirovna Evtushenkova from the UK Sanctions List under the Russia sanctions regime, lifting her asset freeze and trust services sanctions. The Treasury emphasized the need for institutions to screen against the UK Sanctions List, freeze assets immediately, and report to the Financial Intelligence Unit if a match is found, per the Sanctions (Implementation of UK Sanctions) Regulations 2024.
EnforcementSanctions & designationsSanctions list update
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2025-09-22•Turks & Caicos Islands•Turks & Caicos Financial Services Commission
The Turks & Caicos Financial Services Commission issued a cybersecurity advisory urging increased vigilance due to rising phishing emails and malicious online activity, and raised the KRegistry system's minimum password length to 15 characters. The advisory emphasizes strong passphrases, basic cyber hygiene, and multi-factor authentication. October is highlighted as Cybersecurity Awareness Month to reinforce staff awareness and safe practices.
Policy & regulationRules & requirementsCyber resilience
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2025-09-22•Honduras•Central Bank of Honduras
IMF staff are in Honduras to review the authorities' programme under the Extended Fund Facility and Extended Credit Facility, with a concluding statement to follow. Discussions have been productive, supporting macroeconomic stability and fiscal prudence, while emphasizing the need for continued structural policy implementation and tax reform. The mission is also preparing for Honduras' 2026 Financial Action Task Force evaluation.
ResearchEconomic data and developments
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2025-09-21•Israel•Bank of Israel
The Bank of Israel's Q2 2025 update reveals a 2.1% increase in nonfinancial private sector debt to NIS 2.3 trillion, with business sector debt rising 2.6% to NIS 1.5 trillion, driven by bank credit and tradable bond issuance. Household debt grew to NIS 866 billion, primarily due to increased housing debt, while nonhousing debt declined for the first time since late 2023.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-09-21•Israel•Bank of Israel
The Bank of Israel released updated inflation indicators: one-year breakeven inflation at 1.7%, professional forecasts at 2.2%, banks' internal rates at 1.9%, and inflation contracts at 2.0%; five-year market expectations are at 1.9% and five-to-10-year forward expectations at 2.3%. These indicators derive from sources like capital-market breakevens and banks' internal rates, with noted biases in one-year horizons as of January 2024.
Data & statistics
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2025-09-21•Ethiopia•National Bank of Ethiopia
Global Finance magazine awarded Mamo Mihretu, former Governor of the National Bank of Ethiopia, an A- grade in its 2025 Central Banker Report Cards, marking the highest rating for an Ethiopian central banker. The rating reflects reforms during Mihretu's tenure, including market-based exchange rate mechanisms, tighter monetary policy, and financial oversight modernization. Mihretu stepped down in September 2025, succeeded by Dr. Eyob Tekalign.
ResearchLeadership change and appointments
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2025-09-21•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force (MENAFATF) convened central bank governors to initiate the third round of mutual evaluations of anti-money laundering, counter-terrorist financing, and proliferation financing systems, emphasizing high-level support and early national preparation. Recommendations included securing resources, engaging with the Financial Action Task Force (FATF), and institutionalizing biennial governors' meetings to maintain leadership awareness as evaluations advance.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-09-21•Jordan•Jordan Securities Commission
The Jordan Securities Commission announced that its Chairman Imad Mohammed Abu Haltam and Board members have taken the legal oath before Prime Minister Dr. Jaafar Hassan, following a Royal Decree approving their appointment.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-21•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority participated in the BRICS+ Youth Clubs camp to promote financial literacy and introduce non-banking financial activities to young people. FRA representatives discussed their supervisory role in various financial sectors and highlighted the importance of financial cooperation among BRICS countries, addressing challenges and opportunities for emerging economies.
Financial literacy & educationFinancial literacy and education
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2025-09-21•Moldova•National Bank of Moldova
The National Bank of Moldova and the Bank of France met in Chișinău to enhance cooperation supporting Moldova's EU accession. Discussions focused on modernizing Moldova's financial system, highlighting the launch of instant payments and accession to SEPA. A Memorandum of Understanding was signed to harmonize legislation with European standards.
Policy & regulationCooperationCross-border cooperation
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2025-09-21•United Arab Emirates•Central Bank of the UAE
The UAE Central Bank announced Governor Khaled Mohamed Balama's participation in the 49th Annual Meeting of Arab Central Bank Governors in Tunis. Discussions included enhancing responses to global crises, trade tensions, cybersecurity, the Arab Instant Payments Initiative, and financial stability. Balama also met with Gulf Cooperation Council central bank governors and the Financial Action Task Force President on combating money laundering and terrorist financing.
Policy & regulationCooperationCyber resilienceDomestic cooperation
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2025-09-20•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority emphasized the importance of timely and accurate claim settlements to maintain public trust in the insurance sector. Reliance Insurance disbursed TZS 120 million to traders affected by a fire, showcasing an expedited claims process. NMB Bank highlighted its small-business insurance offerings and upgraded claims-processing systems.
Policy & regulationGuidance & interpretationOther
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2025-09-20•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported on informal ECOFIN and Eurogroup meetings in Copenhagen, focusing on innovation, digitalisation, and the digital euro. Minister Kyriakos Pierrakakis emphasized completing the Single Market and enhancing EU-wide service interoperability, while addressing the complexity of the EU regulatory framework. The ministry highlighted a Eurogroup agreement on the digital euro's maximum holding limit and the roles of the Council and the European Central Bank.
Policy & regulationCooperationFintech and insurtechMarket development
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2025-09-20•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia announced a leadership transition, appointing Dr. Eyob Tekalign Tolina as the new Governor, succeeding Mamo Mihretu. The bank reaffirmed its commitment to ensuring price and external stability, safeguarding financial stability, broadening financial inclusion, and fostering innovation in Ethiopia's financial sector.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-20•Jordan•Jordan Securities Commission
The Jordan Securities Commission issued an alert regarding fraudulent activities by unlicensed entities using news and advertising websites to promote fake investment services, urging the public to transact only with licensed entities. The Commission emphasized verifying licensing status through official channels and pledged legal action against those involved in such practices to protect investors and the financial market.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-09-20•Luxembourg•Ministry of Finance (Luxembourg)
The Luxembourg Ministry of Finance reported Finance Minister Gilles Roth's participation in Eurogroup and ECOFIN meetings in Copenhagen, focusing on the Eurogroup work programme, economic outlook, and digital euro negotiations. ECOFIN aimed to simplify financial regulation to reduce administrative burdens and enhance European competitiveness, engaging with the International Monetary Fund on structural reforms. Roth also discussed innovation and competitiveness with Belgian Finance Minister Jan Jambon.
Policy & regulationReform agendas & prioritiesCross-border cooperation
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2025-09-19•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo concluded an IMF technical assistance mission to enhance its supervisory and macroprudential framework. Key recommendations include developing a risk-based supervisory framework, improving reporting and supervisory methodology, and strengthening the macroprudential framework. The Central Bank plans to consider further technical assistance and continue cooperation with the IMF for reform implementation.
Policy & regulationCooperationSupervision process and methodologies