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2025-07-17•Germany•German Bundesbank
The German Bundesbank's 2024 statistics show continued banking sector consolidation, with a net reduction of 35 credit institutions to 1,368 and an 8.4% decline in domestic branches to 17,870. Mergers, especially in the cooperative sector, drove exits, while major banks like Deutsche Bank reduced branch networks. Internationally, German banks saw a slight decrease in majority-owned foreign subsidiaries to 73, while foreign branches increased by 5.4% to 271, mainly in Europe.
Data & statisticsMergers and acquisitionsOther
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2025-07-17•Germany•German Bundesbank
The German Bundesbank's Q1 2025 sectoral financial accounts show German households' financial wealth remained stable, shifting towards liquid, short-term deposits amid economic uncertainty. Non-financial corporations' external financing rose to EUR 56 billion, driven by increased borrowing and net debt securities issuance. The Bundesbank noted recent revisions to financial and national accounts affect comparability with previous data.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-17•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission's Technology and Digital Transformation Department is seeking price quotations from providers to assist in preparing an investment policy proposal report for an IT system to enhance the Commission's management and supervision.
Institutional developmentProcurementOutsourcing and third-party risk management
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2025-07-17•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has released an implementation plan to establish central counterparty clearing and settlement for cash securities market transactions. The CCP model is targeted for deployment in 2027, pending approval from the Ministry of Finance's leadership.
Policy & regulationImplementation, projects & pilotsCCPs
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2025-07-17•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has issued a notice requiring individuals listed to pay a statutory fee of VND 1,000,000 for securities practising certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the authority, with specific transfer details required. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-07-17•Serbia•National Bank of Serbia
The National Bank of Serbia reported a 24.6% increase in first-quarter 2025 transactions for its IPS NBS instant payment system, totaling 24.4 million payments and RSD 294.6 billion in value, a 40.1% rise year on year. The system supports various payment methods, including QR-based and mobile number transfers, with tools for QR code generation and validation. Daily transaction volumes reached new records, with significant increases in average daily payments compared to Q1 2024.
Data & statisticsActivity and performance reporting
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2025-07-17•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and the Abu Dhabi Global Market Financial Services Regulatory Authority have signed a memorandum of understanding to enhance cooperation in financial technologies, services, and capital markets. The agreement facilitates information exchange, training, and joint initiatives to study international practices and apply advanced regulatory approaches.
Policy & regulationCooperationCross-border cooperation
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2025-07-17•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced that the UN Security Council Committee has added Gran GRIF and Viv ANSANM to its sanctions list under Resolution 2653. This update is effective in the UK and Guernsey under the Haiti (Sanctions) Regulations 2020. Businesses must freeze relevant assets and report any findings to the States of Guernsey Policy & Resources Committee, ensuring compliance with statutory reporting obligations.
EnforcementSanctions & designationsSanctions list update
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2025-07-17•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued Memorandum Circular No. 8, Series of 2025, introducing discounted filing fees for MSMEs on corporate registration, capital stock amendments, and securities registration. Discounts range from 20% to 50% and are available until specified dates in 2025 and 2026, with eligibility based on asset-size classifications under Republic Act No. 9501. The circular also references previous measures to reduce corporate data request fees and enforce strict application processing timelines.
Policy & regulationRules & requirementsSME financing
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2025-07-17•Global•World Federation of Exchanges
The World Federation of Exchanges has called on policymakers, regulators, and market participants to focus on revitalizing public markets, as global initial public offerings have hit a five-year low. It plans a multi-year campaign to address structural issues, including aligning public and private markets, exploring incentives for IPOs, and reducing market fragmentation, with a particular emphasis on EMEA and Asia-Pacific regions.
Policy & regulationReform agendas & prioritiesMarket development
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2025-07-17•Global•Islamic Financial Services Board
The Islamic Financial Services Board (IFSB) hosted a working visit from the Central Bank of the Republic of Uzbekistan to discuss leveraging IFSB standards for developing Uzbekistan's Islamic banking sector. Discussions focused on adapting standards to local needs and exploring strategic cooperation opportunities. The visit marks a step towards deeper institutional collaboration following Uzbekistan's 2024 membership in the IFSB.
Policy & regulationCooperationCapacity buildingFinancial inclusion
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2025-07-17•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) issued Statement of Policy 3/25 on assessing applications for rule modifications under section 138BA of the Financial Services and Markets Act 2000, focusing on Own Funds (CRR) provisions. The policy outlines discretionary permission criteria, including factors for Common Equity Tier 1 classification and non-cash distributions, effective from 1 January 2026. It excludes credit unions and third-country branches, emphasizing prompt notification of changes affecting compliance.
Policy & regulationGuidance & interpretationPrudential risks
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2025-07-17•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has finalized a policy statement incorporating key Capital Requirements Regulation (CRR) provisions into the PRA Rulebook, updating external credit assessment institution (ECAI) rating mappings, and amending securitisation supervisory expectations. Effective 1 January 2026, these changes apply to PRA-authorised banks, building societies, investment firms, relevant holding companies, and UK Solvency II firms. The statement includes adjustments for proportionality and transparency, updates to ECAI mappings, and new expectations for securitisation risk transfer transactions.
Policy & regulationRules & requirementsSecuritizationCredit ratings
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2025-07-17•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo hosted Burkhard Balz from the German Bundesbank to deepen cooperation on reserve management, operational cooperation, and capacity building. Discussions included Kosovo's financial-sector reforms and its commitment to joining the Single Euro Payments Area, with expectations for continued support from European partners. Both parties acknowledged ongoing assistance under the EU-funded Central Bank Capacity Building Programme in the Western Balkans and expressed interest in further collaboration.
Institutional developmentCooperation & capacity buildingCross-border cooperation
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2025-07-17•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji, with international partners, launched the Fiji Innovation Hub to support entrepreneurs in developing inclusive financial solutions, aligned with Fiji’s National Financial Inclusion Strategy 2022–2030. Funded by the Pacific Digital Economy Programme, it will initially focus on financial inclusion challenges through an accelerator programme and hackathon, with plans to expand into new innovation areas over the next five years.
Policy & regulationImplementation, projects & pilotsFintech and insurtechFinancial inclusion
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2025-07-17•United Kingdom•Bank of England
The UK Economic Secretary to the Treasury has reappointed Marjorie Ngwenya as an external member of the Bank of England’s Prudential Regulation Committee for a three-year term starting 5 September 2025. Ngwenya, with a background in actuarial leadership and executive roles in South Africa, will continue contributing to the committee responsible for key decisions affecting the Prudential Regulation Authority.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-17•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Alberta Securities Commission issued a Notice of Hearing against CatalX CTS Ltd., former CEO Hyuek Jae Park, and former CFO Jae Ho Lee for alleged breaches of Alberta securities laws, including fraud. Allegations include Lee's improper withdrawal of at least CAD 14,030,000 in client crypto assets and misappropriation of fiat currency deposits. The ASC collaborated with the British Columbia Securities Commission, the Financial Transactions and Reports Analysis Centre of Canada, and the Financial Market Authority Liechtenstein.
EnforcementInvestigations & enforcement actions
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2025-07-17•Russia•Central Bank of Russia
The Central Bank of Russia has issued new rules for calculating capital adequacy ratios, effective 18 August 2025, under Instructions No. 220-I and No. 221-I. Universal licence banks must adopt a more risk-sensitive approach, while basic licence banks and non-bank credit institutions will continue with the standard approach. Changes include refined borrower classification criteria, differentiated risk weights based on credit ratings, and measures targeting credit concentration and mortgage risk weights.
Policy & regulationRules & requirementsCapital adequacy
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2025-07-17•Russia•Central Bank of Russia
The Central Bank of Russia updated the criteria for obtaining qualified investor status, introducing an income-based route and revising education and certification pathways. An annual income of RUB 12 million now qualifies independently, or RUB 6 million when combined with other criteria. The property threshold remains at RUB 12 million, increasing to RUB 24 million in 2026, with reduced amounts when combined with other criteria.
Policy & regulationRules & requirements
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2025-07-17•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee’s Subcommittee on Housing and Insurance held a hearing on bipartisan solutions to the housing shortage, focusing on modernizing the HOME Investment Partnerships Program. Discussions highlighted its role as gap financing with the low-income housing tax credit and the impact of regulatory burdens on costs and timelines. Testimony emphasized HOME's economic impact, noting the production or preservation of 1.4 million affordable units and significant job creation and local income generation.
Policy & regulationReform agendas & prioritiesOther
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2025-07-17•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services passed three digital asset-related bills: the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. The CLARITY Act establishes a regulatory framework for digital assets, the GENIUS Act provides clarity for payment stablecoins, and the Anti-CBDC Act prohibits creating a U.S. central bank digital currency. Chairman French Hill anticipates collaboration with the Senate and President Trump for enactment and implementation.
Policy & regulationRules & requirementsCBDCStablecoins
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2025-07-17•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee’s Subcommittee on National Security, Illicit Finance, and International Financial Institutions held a hearing on CFIUS, emphasizing its role in balancing national security with open investment. Discussions highlighted the economic impact of foreign investment and concerns over the Biden-era Outbound Investment Rule's lack of clarity, increasing compliance risks. Witnesses advocated for a security-focused, evidence-based process and clearer definitions within the Outbound Investment Security Program.
Policy & regulationReform agendas & prioritiesOther
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2025-07-17•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation proposed raising and indexing certain asset-based and numerical regulatory thresholds to prevent inflation from expanding requirements' scope. The proposal targets thresholds related to audit, internal control, audit committee composition, and reporting frameworks, increasingly affecting smaller institutions. The FDIC is also evaluating other thresholds, including those in the continuous examination program and the USD 10 billion large bank deposit insurance pricing scorecard.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-17•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka issued macroprudential Directions under the Central Bank of Sri Lanka Act, setting maximum loan-to-value (LTV) ratios for motor vehicle credit facilities, effective 18 July 2025. LTV caps vary by vehicle type and registration status, with specific percentages for commercial vehicles, motor cars, SUVs, vans, three-wheelers, and others. Transitional provisions apply to letters of credit opened before the effective date, with distinct caps for electric and hybrid vehicles.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-07-17•United States•Federal Reserve Board
Federal Reserve Board Governor Lisa D. Cook discussed AI as a transformative technology affecting employment and price stability, clarifying its limited role in monetary policymaking. She emphasized principles for responsible AI adoption, including governance, privacy safeguards, and a culture of experimentation. Cook highlighted Federal Reserve research using AI tools and noted potential economic impacts, such as productivity gains and inflationary pressures.
Policy & regulationGuidance & interpretationArtificial intelligence
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2025-07-17•United States•Federal Reserve Board
Federal Reserve Board Governor Adriana D. Kugler addressed housing affordability issues and inflation risks, advocating for maintaining the current policy rate to stabilize long-term inflation expectations. She noted cooling rent inflation from increased multifamily construction but emphasized ongoing affordability pressures, especially for lower-end rentals. Kugler also highlighted stable labor market conditions but warned of potential inflation acceleration due to tariff impacts and geopolitical risks.
Monetary policyMonetary policy assessments & outlooks
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2025-07-17•Moldova•National Commission for Financial Markets
The National Commission for Financial Markets (CNPF) has published an overview of a new law enhancing financial consumer protection and expanding financial services providers' responsibilities. The law grants CNPF new supervision and enforcement tools, including oversight of consumer-credit debt collection and conduct of financial intermediaries, and introduces mandatory complaints handling procedures. Additional reforms align consumer-credit rights, require internal restructuring policies for creditors, and impose new insurance contract requirements.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-07-17•United States•U.S. Securities & Exchange Commission
U.S. Securities and Exchange Commission Chair Paul S. Atkins commended the House of Representatives for passing the GENIUS Act, which establishes a regulatory framework for payment stablecoins. Atkins emphasized the need for clear regulations for blockchain and crypto asset technologies and anticipates the market will adopt the framework to develop stablecoin solutions with strong risk safeguards.
Policy & regulationGuidance & interpretationBlockchain and distributed ledger technologyStablecoins
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2025-07-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has restructured the management area of its Region 11 branch and announced leadership changes, appointing Nguyen Tra Duong and Hoang Linh as Deputy Directors. Deputy Governor Doan Thai Son led discussions with local credit institutions to address operational challenges and pledged VND 3 billion to support housing improvements in Dak Lak province.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the World Bank discussed cooperation priorities, including policy advice, technical assistance, and project financing, focusing on a USD 1.52 billion loan project portfolio for fiscal year 2026. They addressed ongoing legal reforms related to public investment and external borrowing and reviewed a new technical assistance project. The World Bank committed to supporting Vietnam's prioritized projects for fiscal years 2027–2029.
Policy & regulationCooperationCross-border cooperation
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2025-07-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced personnel changes for its Region 10 office, appointing Vo Van Thanh and Pham Thanh Tinh as deputy directors and transferring four deputy department heads from Region 11. Region 10 oversees monetary, banking, and foreign-exchange activities in Khanh Hoa and Lam Dong, with deposits and outstanding credit rising significantly in the first half of 2025. Deputy Governor Doan Thai Son emphasized stabilizing the structure, enhancing coordination with local authorities, and strengthening oversight of credit institutions.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-17•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) announced its July 2025 enforcement actions, including Orders of Prohibition against four former bank employees for various offenses, such as unauthorized withdrawals and ATM theft. Additionally, the OCC terminated a cease-and-desist order against GN Bank concerning previous unsafe practices.
EnforcementInvestigations & enforcement actionsOther
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2025-07-17•Canada•Alberta Securities Commission
The Alberta Securities Commission issued a Notice of Hearing against CatalX CTS Ltd., CEO Hyuk Jae Park, and CFO Jae Ho Lee, alleging fraud and breach of a written undertaking. Lee is accused of improperly withdrawing at least CAD 14,030,000 of clients' crypto assets and misappropriating fiat currency deposits. The firm allegedly failed to notify the ASC of the fraud promptly and lacked adequate policies to prevent employee misappropriation of client assets.
EnforcementInvestigations & enforcement actions
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2025-07-17•Canada•Alberta Securities Commission
The Alberta Securities Commission issued a Notice of Hearing against CatalX CTS Ltd., CEO Hyuek Jae Park, and former CFO Jae Ho Lee for alleged breaches of Alberta securities laws. Allegations include Lee's fraudulent withdrawal of at least CAD 14,030,000 in client crypto assets and misappropriation of fiat currency, with Catalyx failing to report the fraud and manage risks effectively. A hearing date will be set on September 15, 2025, in Calgary.
EnforcementInvestigations & enforcement actions
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2025-07-17•Canada•Alberta Securities Commission
The Alberta Securities Commission issued a Notice of Hearing against CatalX CTS Ltd, Hyuek Jae Park, and Jae Ho Lee, alleging fraud and non-compliance during Catalyx's registration review as a crypto asset trading platform. Allegations include Lee's improper withdrawal of at least CAD 14,030,000 in client crypto assets and misappropriation of fiat deposits, with Park allegedly aware of the fraud by November 2023 but failing to report it promptly. The allegations remain unproven, and a hearing date is set for 15 September 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-07-17•South Korea•Bank of Korea
The Bank of Korea released the preliminary Korean National Balance Sheet for 2024, estimating the total economy's net worth at KRW 24,014.6 trillion, a 5.3% increase from the previous year.
Data & statisticsBalance of payments and other external statistics
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2025-07-17•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor Anca Dragu met with Japan’s Ambassador Yamada Yoichiro to discuss enhancing bilateral relations and Moldova’s EU accession efforts through financial system alignment with European standards. The discussions highlighted Moldova's acceptance into the Single Euro Payments Area as a significant step in European integration and ongoing cooperation with Japan, including the "Development Policy for Economic Recovery."
Policy & regulationCooperationCross-border cooperation
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2025-07-17•Moldova•National Bank of Moldova
The National Bank of Moldova and Romania's Minister of Investments discussed Moldova's EU accession, focusing on financial stability, banking infrastructure modernization, and legislative alignment with EU standards. Key topics included international supervisory standards, digital financial services, and integration into the Single Euro Payments Area (SEPA). They emphasized institutional capacity-building for EU fund absorption and dialogue with the National Bank of Romania.
Policy & regulationImplementation, projects & pilotsDomestic cooperation
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2025-07-17•Moldova•National Bank of Moldova
The National Bank of Moldova has released a draft decision to amend its Regulation on the required reserves regime, affecting reporting, settlement, and remuneration processes, including provisions for negative rates. Key changes include a shortened reporting deadline, a new remuneration formula, and updated supervision and enforcement measures. The draft also introduces a framework for applying the regime during bank mergers and demergers.
Policy & regulationRules & requirementsPrudential risksRegulatory reporting
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2025-07-17•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) released its 2025/26 Corporate Plan, focusing on improved trusteeship, investment governance, and value for savers, while addressing the Pension Schemes Bill's market impact. Key initiatives include "value for members" assessments for smaller schemes, a value for money framework for defined contribution schemes, and enhanced supervision of master trusts and professional trustee firms. TPR's annual report highlights meeting most performance indicators, except for cyber risk management, which is being addressed with cybersecurity experts.
Policy & regulationReform agendas & prioritiesOther
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2025-07-17•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority signed a Memorandum of Understanding with the Central Bank of the Republic of Azerbaijan to enhance cooperation in financial technologies, services, and capital markets. The agreement establishes a framework for information exchange, supervisory experience sharing, and collaborative activities like training and research, aligning with ADGM FSRA's strategy to foster international regulatory partnerships and promote global standards.
Policy & regulationCooperationCross-border cooperation
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2025-07-17•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank and the World Bank signed a USD 115 million concessional financing package for Phase One of the Caribbean Resilient Renewable Energy Infrastructure Investment Facility, involving Grenada, Saint Lucia, Saint Vincent and the Grenadines, and the Eastern Caribbean Partial Credit Guarantee Corporation. Led by ECCB, it aims to provide technical support, risk mitigation, and funding for grid modernization and emergency response. Phase Two includes Saint Christopher (St Kitts) and Nevis and the Commonwealth of Dominica, supported by project preparation grants.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-16•Panama•Panama Superintendencia del Mercado de Valores
The Panama Superintendency of the Securities Market has modified the connection settings for its System for Submission of Information (SERI), removing the IP-based regional restriction. This change allows regulated entities to access SERI from outside Panama without prior authorization or additional procedures.
SupervisionRegulatory reporting
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2025-07-16•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) released its 2024 supervisory overview of suspicious transaction and order reports (STOR), noting a 13.5% increase in notifications, mainly concerning equity instruments and suspected insider dealing. The CNMV emphasized effective detection and reporting frameworks, timely STOR submission referencing the EU's 60-day benchmark, and improved report quality, with medium-high quality rising to 62%. It stressed calibrating alerts to trading patterns and ensuring adequate human analysis and staff training.
SupervisionRegulatory reportingMarket abuse
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2025-07-16•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its 2024 Financial Stability Report, evaluating the stability of Cyprus's financial system. The report highlights medium-term risks, sector resilience, and macroprudential policy actions.
ResearchFinancial stability and systemic risk
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2025-07-16•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico’s National Banking and Securities Commission (CNBV) reported the multiple banking sector's capital adequacy indicators as of end-May 2025, with an overall capitalisation index (ICAP) of 19.82%. The Basic Capital Ratio (CCB) was 17.91%, and the Core Capital Ratio (CCF) was 16.55%.
Data & statisticsCapital adequacy
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2025-07-16•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg released its third report on climate-related financial disclosures for its non-monetary policy portfolios. The 2025 report is available in English.
Data & statisticsClimate risk and sustainable finance
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2025-07-16•Ukraine•National Bank of Ukraine
The National Bank of Ukraine secured nearly EUR 1.5 billion at the Ukraine Recovery Conference 2025 for businesses, municipal projects, and energy investments. Key transactions include European Bank for Reconstruction and Development guarantees for PrivatBank and Ukrgasbank, and European Investment Bank agreements with Ukrgasbank. Additional deals involve Ukreximbank, Oschadbank, Credit Agricole Ukraine, Bank Lviv, Kredobank, Piraeus Bank, and a KfW grant for an SME Resilience Facility.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-07-16•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported a slight decrease in the non-performing loans (NPLs) ratio to 6.1% as of 31 March 2025, down from 6.2% at the end of December 2024. This improvement is due to repayments, positive movements in NPL categories, write-offs, and exchange rate fluctuations. The coverage ratio for non-performing exposures (NPEs) increased to 60.5%, with total restructured loans at EUR 1.3 billion, of which EUR 0.7 billion remain in NPEs.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-16•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported a decline in banking sector profitability by EUR 82 million in Q1 2025, attributed to lower net interest income. Total assets increased by EUR 422 million, driven by higher loans and advances and debt securities. The Common Equity Tier 1 (CET1) ratio improved by 1.3 percentage points to 26.0%, due to reduced total risk exposure.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-16•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) issued Circular 3/2025, updating reporting requirements for collective investment institutions and venture capital entities to align with the European Central Bank’s Regulation (EU) 2024/1988. The circular introduces new statistical statements, including a return on participants (OIF7), and establishes criteria for size-based exemptions. It repeals Circulars 5/2014 and 5/2008, effective 1 December 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-16•Australia•Council of Financial Regulators
Australia's Council of Financial Regulators and the Australian Competition and Consumer Commission released a consultation paper on a potential regulatory framework for cash distribution, emphasizing cash's ongoing importance and challenges in rural areas. Stakeholder feedback is sought by 15 August 2025.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-07-16•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved amendments to market rules and issued determinations for corporate bonds and investment fund shares. It terminated certain remedial orders related to capital markets and AML/CFT violations and confirmed FC GARANT CAPITAL LLC's compliance with Cabinet of Ministers Resolution No. 76. The Commission also registered corporate bonds for AZURRO FINANCE LLC and YAVIR-INVEST LLC, and share issuances for several investment funds.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-16•Peru•Central Bank of Peru
The Central Bank of Peru has issued a PEN 1 coin featuring the Vicús culture as part of its “Pre-Columbian Peruvian Ceramics” series. This legal tender coin, minted in alpaca alloy, is the third in an 11-coin collection promoting Peru’s cultural heritage. Presentation cases are available for purchase exclusively through the central bank’s online portal.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-07-16•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has launched a redesigned Economic Indicators website, enhancing access to over 9,000 statistical series with tools for customised chart creation and data downloads. The platform introduces user registration for saving preferences, data-integration tools for app development, and a real-time "most consulted" section. It will run alongside the previous version during a transition period, with a mobile app forthcoming.
Data & statisticsActivity and performance reporting
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2025-07-16•Georgia•National Bank of Georgia
The National Bank of Georgia announced a new partnership between The Bank of New York Mellon Corporation and Basisbank JSC, enhancing Basisbank's global correspondent banking network. This collaboration aims to streamline international USD transfers and payments, improving transaction efficiency for Basisbank customers.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-07-16•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) released a White Paper on transitioning public pensions to a defined contribution system under the Voluntary Pension System framework. Following a national workshop, it outlines policy recommendations for a coordinated rollout, including finalising the pension scheme framework and amending labour laws. It highlights provincial reforms, such as Khyber Pakhtunkhwa's and Punjab's initiatives, and emphasizes the need for transparency and sustainability.
Policy & regulationReform agendas & priorities
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2025-07-16•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners announced that the South Dakota Division of Insurance has adopted State Based Systems (SBS), becoming the 36th member to do so. SBS facilitates comprehensive insurance regulatory workflows, including licensing, complaints, and enforcement actions, and integrates with the National Insurance Producer Registry.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-07-16•Europe•European Banking Authority
The European Banking Authority has released a new chapter of its Union resolution Handbook, detailing a framework for resolution authorities to conduct structured simulation exercises. It introduces a common taxonomy and defines six core exercise types, including end-to-end simulations for real-world scenarios. The chapter provides operational guidance on planning, executing, and evaluating these exercises.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-07-16•Portugal•Bank of Portugal
The Bank of Portugal's updated securities statistics for June 2025 show an increase in the outstanding amount of debt securities issued by resident entities to EUR 317.6bn, up EUR 2.5bn from end-May. Listed shares rose to EUR 68.4bn, with a EUR 515m monthly increase. Notably, general government debt securities totalled EUR 191.4bn, representing 60.3% of resident-issued debt securities, while ESG-labelled debt securities fell to EUR 14.4bn due to redemptions exceeding issuance.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-16•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance announced a new Board of Directors for the Hellenic Development Bank of Investments (EATE), with Charilaos Lampropoulos as Chair and Antigoni Lymperopoulou as CEO. The four-year term appointments were co-signed by Minister Kyriakos Pierrakakis and Deputy Minister Nikos Papathanasis. EATE focuses on channeling capital to businesses, supporting start-ups, attracting private investment, and managing public and European funds.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-16•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority’s Investor Education Foundation released the sixth wave of the National Financial Capability Study, revealing a decline in U.S. adults' financial stability due to rising costs. The study highlights challenges for households earning USD 25,000 to USD 75,000, with decreased emergency savings and retirement planning disparities based on education. Additionally, there was an increase in mobile banking and Buy Now, Pay Later services, while financial knowledge remained largely unchanged.
Financial literacy & educationFinancial literacy and education
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2025-07-16•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, arrested two individuals suspected of money laundering and operating an illegal cryptoasset exchange. The operation involved searches in southwest London and the seizure of seven crypto ATMs. The FCA emphasized the illegality of unregistered cryptoasset exchanges and ATMs in the UK and the criminality of non-compliance with money laundering regulations.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-07-16•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond reported on the FedNow Service's second year, noting over 1,400 participants and growth in transaction volumes. New developments include a request-for-payment capability and features for healthcare payments. FedNow has introduced risk-management tools like account activity thresholds and net send limits to manage liquidity and fraud risk.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-16•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued guidance for insurers to manage risky or complex investments per the Solvency II prudent person principle. Insurers must identify, measure, and manage risks, especially for non-traditional assets. Reviews will focus on holdings under specific CIC codes, and insurers should align investment strategies with their business models and risk appetites.
Policy & regulationGuidance & interpretationOther
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2025-07-16•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission's Asset and Wealth Management Activities Survey 2024 reported a 13% increase in assets under management to HKD 35.1 trillion, driven by net fund inflows of HKD 705 billion. Private banking and wealth management assets grew 15% to HKD 10.4 trillion, while Hong Kong-domiciled funds saw a 22% rise in net asset value to HKD 1.64 trillion by end-2024 and a further 21% increase to HKD 1.99 trillion by May 2025. The survey highlighted growth in non-equity investments, Mainland-related firms, and Type 9 licensees.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-16•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has banned Tong Ho Yin, former responsible officer of HF Asset Management Limited, from the industry for nine years and fined him HKD 350,000. This enforcement action follows findings of mismanagement and conflicts of interest in loan and stock lending arrangements, resulting in losses of HKD 25.6 million. The fine was reduced from HKD 700,000 due to Tong's financial position.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-16•Global•World Bank
The World Bank Group's Global Findex 2025 report highlights accelerated financial inclusion and formal saving in low- and middle-income economies, driven by mobile financial services. In 2024, 40% of adults in developing economies saved in a financial account, with mobile-money account usage for saving reaching 10%. The report also notes a narrowing gender gap in account ownership and increased digital merchant payments, while identifying security gaps in mobile protection.
Data & statisticsFinancial inclusion
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2025-07-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Deposit Protection Board's 2024-2025 Annual Report highlights the successful implementation of enhancements to the Deposit Protection Scheme, completed in two phases. Public promotion efforts increased awareness and confidence in the new protection limit of HKD 800,000.
Other
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2025-07-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites, fake internet banking login screens, and phishing emails linked to The Bank of East Asia, Dah Sing Bank, and The Hongkong and Shanghai Banking Corporation. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS.
SupervisionAlertsFraud and scams
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2025-07-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued licences to Amaranth Capital JSC and Centras Securities JSC, authorizing them to conduct banking operations in foreign currency. The licences, numbered 3.4.4 and 3.4.5, were granted under Deputy Chair orders No. B-184 and No. B-185.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan appointed Konstantin Saroyan as an independent director on the Board of Directors of Kazakhstan Stock Exchange JSC.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-07-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced updates to the Haiti financial sanctions regime, directing firms to the Isle of Man Treasury's resources for current sanctions notices. The update also suggests using notification tools like an RSS feed and the UK Treasury email alert service for timely updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-07-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority's July 2025 update outlines policy work, supervisory priorities, and guidance, including efforts to enhance the insurance sector's competitiveness and new sustainable finance guidance. It details a two-year supervisory engagement programme and highlights strong responses to data requests from trust and corporate service providers. The update also notes progress on the National Risk Assessment, AML/CFT Handbook revisions, and upcoming outreach activities, including the Countering Financial Crime Conference in September.
Policy & regulationOtherClimate risk and sustainable finance
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2025-07-16•United States•Federal Reserve Bank of Cleveland
Federal Reserve Bank of Cleveland President Hammack delivered a keynote speech titled “The Cleveland Fed’s Excellent Community Development Adventure” at Cuyahoga County Community College’s Corporate College 20-Year Anniversary Celebration.
Other
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2025-07-16•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan met with the Central Bank of Malaysia to discuss licensing, supervision, and regulation of Islamic banks, including Shariah compliance and liquidity management. The meeting included exchanges on regulatory reforms and internal documents, concluding with an agreement to enhance cooperation through knowledge sharing.
Policy & regulationCooperationCross-border cooperation
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2025-07-16•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission highlighted Secretary-General Chuchat Pramoolpol’s remarks at the MDRT DAY 2025 seminar, emphasizing the role of life insurance agents and financial advisers in maintaining trust and professional standards. The Office is advancing modern supervisory approaches and public initiatives, including the OIC InsurTech Award and the Responsible Voice programme, to enhance insurance innovation and communication.
SupervisionSupervision approach, priorities & toolkitOther
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2025-07-16•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) reported a 15% decrease in consumer complaints in Puebla from January to April 2025, with 3,116 cases. The commission recovered MXN 40.4 million for users, a 9.5% decline year on year. Credit cards, debit cards, and personal loans were the most complained-about products, with banking accounting for 63.5% of complaints, and 44.3% linked to potential fraud.
Data & statisticsComplaints and dispute resolution
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2025-07-16•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) announced that 2,217 associations registered under Complementary Law No. 213/2025 by the 15 July 2025 deadline, allowing them to continue operations while completing legal regularisation. Unregistered entities are considered irregular and may face legal consequences. Full regularisation requires a service agreement with a SUSEP-authorised administrator, pending approval of implementing regulations.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren warned that strong headline indicators obscure worsening affordability and financial fragilities, citing wage stagnation and rising household costs. She criticized recent tariff changes, a USD 4 trillion tax policy, and financial deregulation for increasing economic risks and delaying interest-rate cuts. Warren advocated for an "affordability agenda" focusing on domestic investment, strengthened bank oversight, and expanded federal investment in housing, child care, education, and health care.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsMonetary policy decisions and developments
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs highlighted Ranking Member Elizabeth Warren's warning that President Donald Trump's tariffs, tax cuts, and deregulation could lead to an economic crash akin to 2008. Warren argued these policies risk increasing consumer prices, tightening credit, and weakening regulatory safeguards, while rising U.S. debt raises concerns about economic stability. She proposed an agenda focused on investments in housing, education, health care, and childcare, funded by reversing corporate tax incentives.
Policy & regulationReform agendas & prioritiesMarket risk and volatility
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2025-07-16•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren criticized President Trump for allegedly seeking a pretext to remove Federal Reserve Chair Jerome Powell by focusing on the central bank’s renovation spending. Warren suggested addressing tariff policy, not threats to the Fed's leadership, to lower interest rates. She reaffirmed her support for Fed transparency and accountability, warning that Powell's removal could destabilize markets.
OtherMonetary policy decisions and developments
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2025-07-16•Philippines•Central Bank of the Philippines
The Bangko Sentral ng Pilipinas has revised its rules on disqualification and watchlisting for directors and officers of banks and non-bank financial institutions. The amendments introduce permanent disqualification for individuals who voluntarily abstain from participating in BSP-supervised institutions and outline procedures for final court convictions. Disqualified individuals will be included in the Bangko Sentral Watchlist Files and, upon Monetary Board approval, recorded in Disqualification File A (Permanent).
Policy & regulationRules & requirementsCorporate governance
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2025-07-16•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued a circular letter detailing approved applications for 48 new banking offices and 49 openings during Q1 2025. BDO Network Bank led approvals with 27 locations, followed by Security Bank and BDO Unibank. The disclosure includes universal, commercial, thrift, rural, and cooperative banks, covering regular branches, branch-lite units, and specialized formats.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has revised the implementation timeline for prudential standards under the Deposit Takers Act 2023, with standards to be issued by 31 May 2027 and effective from 1 December 2028. The timeline adjustment allows for a review of key capital settings, and the Bank has modified proposals to support a proportionate approach and enhance competition following consultation feedback.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-07-16•Romania•Romanian Financial Supervisory Authority
The Romanian Financial Supervisory Authority authorized decisions for non-bank financial markets, including insurance, capital markets, and private pensions. Key approvals include board and executive appointments for insurers, a new alternative investment fund manager, and changes to fund statutes and ownership structures. The Council also approved Delfin S.a.r.l.'s acquisition project for an indirect qualifying holding in Generali România Asigurare Reasigurare S.A.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-16•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Monetary Board revoked the BSP registrations of Prince Rockwell Money Changer Corporation, Kings Hopewell Group Corp., and World Reliance Trading Corp. due to serious violations, including breaches of anti-money laundering requirements. The cancellations were based on Section 901-N of the Manual of Regulations for Non-Bank Financial Institutions. Requests for reconsideration by the entities were denied with finality.
EnforcementInvestigations & enforcement actionsForeign exchange policy and markets
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2025-07-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) is consulting on a draft rule to amend its credit rating framework, aligning it with international standards and enabling CVM-registered agencies to serve Brazilian issuers targeting foreign investors. Key proposals include recognizing ratings outlooks, enhancing transparency and governance, adjusting pricing policies, and managing conflicts of interest. This consultation is part of the CVM’s 2025 Regulatory Agenda.
Policy & regulationRules & requirementsCredit ratings
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2025-07-16•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Resolution CVM 233 to amend its bylaws, enhancing alignment on innovation by centralizing data analytics and AI under the Institutional Development and Modernisation Sectional Superintendence. This reorganisation consolidates responsibilities from the Investigation Intelligence Office and the Strategic Risk Supervision Intelligence Office into a new Intelligence Development Office. The resolution takes effect on 1 August 2025.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-07-16•Global•Network for Greening the Financial System
The Network for Greening the Financial System (NGFS) released a technical note to help micro-prudential authorities engage with banks and insurers on climate-related targets in transition plans, emphasizing strategic and risk implications. It outlines target-setting processes, potential risks like greenwashing, and includes supervisory questions, with a companion note on climate scenario analysis concluding an NGFS transition plan cycle.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-07-16•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority finalized amendments to the Depositor Protection Part of its Rulebook to implement the Bank Resolution (Recapitalisation) Act 2025. These changes enable the Financial Services Compensation Scheme to make recapitalisation payments as required by the Bank of England and levy the industry to recoup those payments, ensuring banking service continuity during failures. The amendments include defining recapitalisation payments, creating a new levy payer class, and updating levy structures, effective from 16 July 2025.
Policy & regulationRules & requirementsRecovery and resolution
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2025-07-16•Poland•Central Bank of Poland
The Central Bank of Poland released its June 2025 core inflation indices, reporting a Consumer Price Index inflation of 4.1% year on year and inflation excluding food and energy at 3.4%. Other measures include inflation excluding administered prices at 2.5%, inflation excluding the most volatile prices at 4.5%, and the 15% trimmed mean at 3.7%. The bank emphasizes using these indices to identify inflation sources and assess persistence, with the food-and-energy-excluded measure crucial for inflation targeting.
Data & statisticsMonetary data
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2025-07-16•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC advises holders of Energy Absolute’s EA257A bonds to review information and attend the bondholders’ meeting on 18 July 2025. The meeting will address non-compliance exemptions and consider a debt restructuring proposal, including maturity extensions and interest rate changes. The SEC mandates the bondholders’ representative to evaluate the proposal's implications to guide voting decisions.
SupervisionOtherCorporate governance
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2025-07-16•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has launched the ISDA Notices Hub and the ISDA 2025 Notices Hub Protocol to streamline and standardize time-sensitive notices under the ISDA Master Agreement, reducing uncertainty and potential losses from delivery failures. Supported by S&P Global Market Intelligence, the platform facilitates secure notice exchanges and updates address details, with 79 entities participating across North America, Europe, and Asia-Pacific.
Policy & regulationInternational standards & recommendationsMarket infrastructure
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2025-07-16•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada, with other authorities, warned against North Korean IT workers posing as freelancers, highlighting sanctions, financial crime, and cyber risks. The advisory outlines legal consequences under Canadian sanctions laws and emphasizes vigilance in hiring, including identity verification and avoiding cryptocurrency payments. Entities must report suspicious transactions related to money laundering, terrorist financing, or sanctions evasion to FINTRAC.
SupervisionAlertsCyber resilience
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2025-07-16•Europe•European Payments Council
The European Payments Council has released the SEPA Request-To-Pay Inter-SRTP Service Provider API Specifications, finalizing the documentation for the SEPA Request-To-Pay scheme. These specifications, aligned with the SRTP Scheme Rulebook version 4.0, define APIs for exchanges between SRTP service providers using the ISO 20022 messaging standard.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-16•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has issued a consumer alert about a surge in scams involving fake loan offers, with most warnings in early 2025 related to fraudulent loan promises. Scammers demand upfront fees, then disappear without providing loans, often pressuring consumers with threats or impersonating public bodies. The authority advises consumers to verify lenders through its warning list, company register, and IOSCO’s I-SCAN database.
SupervisionAlertsFraud and scams
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2025-07-16•United States•U.S. Financial Services Committee
U.S. House Committee on Financial Services Chairman French Hill endorsed the legislative path for digital asset regulation, emphasizing three priorities: the GENIUS Act for a U.S.-dollar-backed stablecoin, a digital asset market structure framework, and the Anti-CBDC Surveillance Act. These initiatives aim to establish federal regulation, protect privacy, and support private-sector payment innovation.
Policy & regulationReform agendas & prioritiesStablecoinsCBDC
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2025-07-16•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Housing and Insurance Subcommittee held a hearing on bipartisan proposals to modernize the Department of Housing and Urban Development’s HOME Investment Partnerships Program. The draft legislation aims to reduce project costs and expedite affordable housing delivery by addressing cost and delay drivers like environmental reviews and construction material requirements. The bill is expected to evolve based on testimony, member input, and stakeholder feedback.
Policy & regulationReform agendas & prioritiesOther
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2025-07-16•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee's National Security Subcommittee held a hearing on "U.S. Policy on Investment Security," focusing on CFIUS's role in safeguarding national security. Chair Warren Davidson stressed efficient threat management without burdening U.S. businesses and supported an outbound investment regime with sanctions to prevent aiding adversarial nations. The discussion referenced the 2018 FIRRMA and a recent presidential memorandum on investment oversight.
Policy & regulationReform agendas & prioritiesCross-border cooperation