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2025-07-15•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation issued supplemental instructions for the June 30, 2025, Call Report, confirming no new data items for FFIEC 031, 041, or 051 forms this quarter. Institutions must submit data electronically by July 30, 2025, with exceptions for those with multiple foreign offices. The FFIEC plans to implement multifactor authentication for the Central Data Repository application in the third and fourth quarters of 2025.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-15•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) proposed amendments to regulatory thresholds to account for inflation, affecting requirements like annual independent audits. The proposal includes an indexing methodology for automatic updates every two years and additional adjustments if inflation exceeds 8% in any intervening year. This marks the first phase of a broader effort to reassess thresholds across FDIC regulations.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-15•United States•Federal Deposit Insurance Corporation
The FDIC proposed amendments to streamline rules for insured state nonmember banks establishing or relocating branches, including expedited processing and revised public notice procedures. Key changes involve eliminating certain filing requirements, shortening timelines, and removing public comment mandates. The proposal introduces a "de minimis change in address" exclusion and aligns the "remote service unit" definition with the Office of the Comptroller of the Currency.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-15•United States•Federal Deposit Insurance Corporation
The FDIC is consulting on amending its Guidelines for Appeals of Material Supervisory Determinations, proposing an independent Office of Supervisory Appeals to replace the Supervision Appeals Review Committee. This Office, staffed by officials with supervisory experience, would serve as the final review level for FDIC-supervised institutions and operate independently from FDIC divisions. Hiring is planned soon, with the Office expected to be operational upon finalizing the revised Guidelines.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-15•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) has issued a request for information to gather comments on its evaluation approach for statutory factors related to filings by industrial banks, industrial loan companies, and their parent companies. The feedback will guide the FDIC in assessing these factors on a case-by-case basis, considering the business plans of industrial banks and the diversity of companies seeking to establish them.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-07-15•Chile•Central Bank of Chile
The Central Bank of Chile's second quarter 2025 Bank Credit Survey shows stable credit standards across household and corporate segments, with some easing in consumer credit. Demand for housing loans strengthened, while consumer credit and SME demand remained subdued. The survey, conducted from 23 June to 2 July 2025, also noted more favorable conditions for consumer credit and unchanged mortgage lending standards.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-15•United States•Federal Deposit Insurance Corporation
The FDIC Board approved a request for information on the review process for filings by industrial banks and loan companies, while withdrawing a 2024 proposed rule on parent company requirements. The RFI aims to refine FDIC evaluations of statutory factors, considering the unique aspects of industrial bank business plans. The FDIC will not finalize the withdrawn proposal and may address changes through separate regulatory actions.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-07-15•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) Board approved a proposed rulemaking to streamline the application process for establishing and relocating domestic branches and offices. The proposal targets insured state non-member banks and insured branches of foreign banks, introducing expedited processing and removing certain filing and public notice requirements to reduce regulatory burden.
Policy & regulationRules & requirementsLicensing framework and process
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2025-07-15•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) are consulting on proposals to establish an independent dispute resolution service with binding authority for investment-related complaints, likely involving the Ombudsman for Banking Services and Investments (OBSI). The proposals include a CSA oversight model for OBSI, governance and independence safeguards, and enhanced reporting requirements. The framework would apply to OBSI's investment mandate, with external decision makers appointed for reviews involving compensation recommendations of CAD 75,000 or more.
Policy & regulationRules & requirementsComplaints and dispute resolution
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2025-07-15•United States•Federal Reserve Board
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman spoke at the Financial Inclusion Conference, emphasizing innovation's role in expanding financial access. She highlighted banks' use of alternative data to reach underserved populations and addressed a recent interagency request on check and payments fraud. The agenda included discussions on evolving financial products, mission-driven organizations, and cross-border payment innovations.
Policy & regulationOtherFinancial inclusion
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2025-07-15•United States•Federal Reserve Board
Federal Reserve Board Governor Michael S. Barr emphasized at the Financial Inclusion Conference the importance of safe, affordable bank accounts and faster payments for financial inclusion. He noted the lowest unbanked rate since 2009 but identified barriers like account costs and fees, highlighting initiatives such as the Bank On certification and FedNow Service. Barr also discussed alternative financial data's role in expanding credit access and improving underwriting decisions.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-07-15•United States•Federal Reserve Board
The Federal Reserve Board terminated its cease and desist order against Industry Bancshares, Inc. of Industry, Texas, effective July 10, 2025. The order was initially issued on November 13, 2024.
EnforcementInvestigations & enforcement actionsOther
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2025-07-15•United States•U.S. Securities & Exchange Commission
U.S. Securities and Exchange Commission Chairman Paul S. Atkins accepted the resignation of Erica Williams as Chair and Board member of the Public Company Accounting Oversight Board. Williams will remain in her position until July 22.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-15•United States•Office of the Comptroller of the Currency
Jonathan V. Gould has been sworn in as the 32nd Comptroller of the Currency, succeeding Rodney E. Hood. Gould, confirmed by the U.S. Senate on July 10, 2025, previously served as Senior Deputy Comptroller and Chief Counsel at the Office of the Comptroller of the Currency and was a partner at Jones Day. His priorities include enhancing bank supervision, embracing innovation, and promoting fair access to financial services.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-15•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing and Laos Securities Commission Secretary-General Phengsy Phengmuong met in Beijing to discuss capital market development and enhance bilateral regulatory cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-07-15•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued Interpretative Criterion No. 96, clarifying conditions for legal entities operating as PSAVs to evidence compliance with the minimum net worth requirement (PNM) for registration. PSAVs must have fully paid-in share capital registered in the Public Registry of Commerce, with irrevocable contributions capitalised before registration. Entities registered under General Resolution No. 994 have until 30 November 2025 to meet the clarified PNM requirements.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-15•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission (CNV) President Roberto E. Silva concluded the Corporate Governance Forum 2025, emphasizing efforts to innovate and modernize Argentina's capital markets. Over the past 18 months, CNV has introduced pioneering rules on Automatic Public Offering, PSAV regulation, and tokenization. The forum was organized by IAE Business School with participation from BYMA and CNV staff.
Policy & regulationRules & requirementsCorporate governance
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2025-07-15•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration has issued interim measures for supervising local asset management companies to standardize practices and tighten risk management. The measures define business scope, set conduct expectations, and impose risk controls, including investment exposure limits and liquidity requirements. Provincial authorities will oversee supervision and risk disposal, with the National Financial Regulatory Administration enhancing coordination and guidance.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-07-15•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
Thomas Hirschi will leave the Swiss Financial Market Supervisory Authority (FINMA) on 31 August 2025, stepping down as Head of the Banks division. Hirschi, who joined FINMA's Executive Board in 2020, played a key role in processing licence applications, overseeing bank supervision, and managing the Credit Suisse crisis.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-15•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance announced that "M&L ASOCIADOS SEGUROS Y GESTORIA DEL AUTOMOTOR EN GRAL" is not authorized to operate as an insurance producer adviser or institorio agent. This notice serves as a consumer protection measure for potential insureds in San Miguel de Tucumán, Tucumán Province.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-15•India•Securities & Exchange Board of India
The Securities and Exchange Board of India, in collaboration with the National Institute of Securities Market, launched the National Financial Literacy Quiz 2025 to enhance financial literacy among students. The quiz saw 477,489 registrations, with regional rounds already held in Kolkata and Bengaluru. Upcoming rounds are scheduled across various zones, culminating in a national round at the NISM campus in November 2025.
Financial literacy & educationFinancial literacy and education
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2025-07-15•South Korea•Bank of Korea
The Bank of Korea published its Loan Officer Survey on Financial Institution Lending, detailing lending trends for Q2 2025 and projections for Q3 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-15•Taiwan•Central Bank of Taiwan
The Central Bank of the Republic of China (Taiwan) released its June 2025 overview of renminbi (RMB) business, noting 65 domestic and 56 offshore banking units engaged in RMB activities. Total RMB deposits increased to RMB 119.27 billion, while loans decreased to RMB 19.19 billion. Remittances for May reached RMB 185.33 billion, with the Taipei Branch of the Bank of China managing RMB 460 billion in settlements for June.
Data & statisticsFinancial and market indicators
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2025-07-15•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission reported that domestic banks' loans to small and medium-sized enterprises (SMEs) reached TWD 10,467 billion at end-May 2025, a TWD 2.8 billion increase from April. SME loans accounted for 64.66% of total enterprise lending and 68.37% of private enterprise lending, with the average non-performing loan ratio at 0.21%, down 0.03 percentage points. The Commission encourages banks to expand SME lending with appropriate risk controls.
Data & statisticsFinancial and market indicators
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2025-07-15•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission plans to amend Article 5 to redefine insurers’ “substantive operating revenue” for supervisory fee calculations, aligning with IFRS 17 to be implemented in 2026. The new definition will include various revenue streams and specific adjustments, excluding certain liabilities and expenses. The amendment follows industry consultations and will be open for public comment.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-15•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India approved rural, social sector, and motor third party obligations for 2025-26 and 2026-27, advanced the Indian Risk Based Capital framework with updated guidance for the second quantitative impact study, granted first-stage approval for M/s Kiwi General Insurance Ltd's registration, endorsed business facilitation modifications, and established panels for enforcement and equity share transfer matters.
Policy & regulationRules & requirementsOther
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2025-07-15•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released two annexes to its 2021 Opinion on risk-mitigation techniques to harmonize supervisory practices across Europe. The annexes address the prudential treatment of mass-lapse reinsurance and contractual termination clauses, focusing on Solvency Capital Requirement (SCR) relief, measurement periods, and risk transfer effectiveness. EIOPA will oversee the application of these guidelines through a forthcoming peer review.
Policy & regulationGuidance & interpretation
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2025-07-15•Europe•European Insurance and Occupational Pensions Authority
The European Supervisory Authorities, including the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority, released a guide on oversight under the Digital Operational Resilience Act. It outlines the framework for overseeing critical ICT third-party service providers, detailing governance, oversight processes, and tools for Joint Examination Teams. It is advisory and does not replace EU legal requirements, aiming to assist financial entities and providers in preparing for oversight implementation.
Policy & regulationGuidance & interpretationOperational risk and resilienceOutsourcing and third-party risk management
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2025-07-15•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas released its July 2025 schedule for secondary market prices of Bahamas Registered Stock (BRS), detailing bid and ask prices and yields. The list includes fixed and floating rate BRS with maturities from July 2025 to October 2054, providing issue and maturity dates, nominal value, coupon or APR, and yield for each ISIN. Floating rate securities reset semi-annually based on the prevailing six-month market rate, with prices excluding accrued interest.
Data & statisticsFinancial and market indicators
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2025-07-15•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE announced outcomes from the Financial Stability Council's first 2025 Board meeting, including a Technical Advisory Committee and three working groups. These groups will focus on digital innovation, non-bank financial intermediation, and data development, aiming to monitor market developments, assess systemic risks, and enhance data management. The meeting included senior representatives from key financial and regulatory bodies in the UAE.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskMarket development
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2025-07-15•Caribbean•Eastern Caribbean Central Bank
Antigua and Barbuda’s Prime Minister, Gaston A. Browne, will assume the chairmanship of the Eastern Caribbean Central Bank Monetary Council on 17 July, succeeding Cora Richardson-Hodge. The Monetary Council, ECCB's highest decision-making body, rotates its chair annually among finance ministers of its eight member governments.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•South Africa•National Treasury (South Africa)
South Africa's National Treasury released remarks by Director-General Dr. Duncan Pieterse at the G20 Finance and Central Bank Deputies meeting, highlighting global economic uncertainty and G20 Presidency priorities like debt sustainability and multilateral development banks. The agenda includes updates from the Council of Europe Development Bank, a World Bank simulation on pandemic response financing, and progress on sovereign debt restructuring. The meeting aims to draft a communiqué to support Finance Ministers and Central Bank Governors under South Africa’s G20 Presidency.
Policy & regulationReform agendas & prioritiesOther
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2025-07-14•Australia•Australian Securities & Investments Commission
ASIC has initiated Federal Court proceedings to disqualify David John Catsoulis from managing corporations, citing his alleged mismanagement of Warwick Gold Holdings Pty Ltd and Impact Gold Ltd. Under Catsoulis's leadership from 2021 to 2024, the companies engaged in disadvantageous agreements leading to their collapse in 2024. ASIC seeks a disqualification order under section 206D of the Corporations Act, allowing for a maximum disqualification of 20 years. The first case management hearing is scheduled for 23 July 2025.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-14•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has initiated a consultation on minor updates to the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015 to ensure their currency and continued applicability. Stakeholders are invited to provide feedback on the proposed changes, with relevant documents available on APRA's website.
Policy & regulationRules & requirementsPrudential risksRegulatory burden
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2025-07-14•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has initiated a consultation on minor updates to the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015 to maintain their currency and enforceability. Stakeholders are invited to provide feedback, with details available on APRA's website.
Policy & regulationRules & requirementsPrudential risksRegulatory burden
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2025-07-14•Ghana•Ministry of Finance (Ghana)
Ghana’s Ministry of Finance has inaugurated a seven-member Board for the Financial Intelligence Centre, appointing Mike Kofi Afflu as Chairperson and Albert Kwadwo Twum Boafo as Chief Executive. The Board, comprising representatives from key government departments, is tasked with combating money laundering, terrorism financing, and other financial crimes.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has initiated a review of access to financial advice, examining consumer sources and the challenges under the 2021 financial advice regime. The review aims to inform regulatory focus and may lead to new guidance, monitoring changes, or initiatives to enhance consumer awareness.
Policy & regulationReform agendas & prioritiesConsumer and investor protection
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2025-07-14•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) has launched a consultation on the draft "Suitability Policy Rule Wta 2026" to replace the current rule for assessing policymakers at audit firms under the Audit Firms Supervision Act. The proposal seeks to extend suitability assessments to large non-public interest entity audit firms and align the framework with the joint AFM/De Nederlandsche Bank "Suitability Policy Rule 2012". The final policy will be published after reviewing consultation feedback.
Policy & regulationRules & requirementsOther
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2025-07-14•Mauritius•Mauritius International Financial Centre
The Mauritius International Financial Centre has published a Highlights Strategy Report outlining its Financial Services Sector Strategy for 2025–2030, endorsed by the Cabinet. The strategy focuses on enhancing the centre's attractiveness and competitiveness through five strategic pillars: ease of doing business, product diversification, visibility enhancement, market diversification, and addressing skills shortages.
Policy & regulationReform agendas & prioritiesOther
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2025-07-14•Lebanon•Central Bank of Lebanon
The Central Bank of Lebanon issued Basic Circular 170, prohibiting banks and financial entities from engaging with unlicensed entities under foreign sanctions. This includes financial and commercial dealings, with examples like Al-Qard Al-Hasan Association and others on international sanctions lists. Non-compliance may result in legal action, including licence suspension or asset freezing.
Policy & regulationRules & requirementsOther
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2025-07-14•Indonesia•Bank Indonesia
Bank of Indonesia reported that Indonesia's external debt reached USD 435.6 billion in May 2025, with annual growth slowing to 6.8% from 8.2% in April. Government external debt rose to USD 209.6 billion, while private external debt declined by 0.9% year on year. The external debt-to-GDP ratio stood at 30.6%, with long-term maturities comprising 84.6% of total debt.
Data & statisticsBalance of payments and other external statistics
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2025-07-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported a CNY 22.83tn increase in aggregate social financing for the first half of 2025, up CNY 4.74tn from the previous year. RMB loans to the real economy rose by CNY 12.74tn, while foreign-currency loans decreased by CNY 63.8bn on a RMB-converted basis. The statistics reflect expanded data collection since January 2023, incorporating non-deposit-taking banking institutions.
Data & statisticsMonetary data
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2025-07-14•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance has launched a public consultation on transposing the EU’s Insurance Recovery and Resolution Directive (IRRD) into national law, focusing on Member State discretions. Effective from January 2025, the IRRD aims to establish a harmonised recovery and resolution framework for insurance and reinsurance undertakings in the EU, ensuring financial stability and protection of policyholders. Ireland can choose between ex-ante, ex-post, or hybrid funding approaches for resolution costs.
Policy & regulationRules & requirementsRecovery and resolution
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2025-07-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported total social financing outstanding at CNY 430.22 trillion as of June 2025, marking an 8.9% year-on-year increase. Renminbi loans to the real economy, the largest component, rose 7% to CNY 265.22 trillion, while government bond financing surged 21.3% to CNY 88.74 trillion. The report also highlights adjustments in the statistical scope from January 2023, including certain non-deposit-taking financial institutions.
Data & statisticsMonetary data
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2025-07-14•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) hosted a session at the 3rd International Conference on European Union Insurance Law, featuring research presentations by NOVA University Lisbon students. Topics included money laundering prevention, insurance protection gaps for natural catastrophes, discrimination in insurance contracts, and recourse rights in motor liability insurance. ASF board member Paula Vaz Freire delivered the opening remarks.
ResearchClimate risk and sustainable finance
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2025-07-14•United Kingdom•Financial Conduct Authority
The UK Financial Conduct Authority and the Financial Ombudsman Service have launched a joint consultation to modernize the financial redress system, aiming to prevent complaint overload and expedite consumer compensation. Key proposals include improved coordination on regulatory interpretation, a lead complaint process for novel issues, and clearer guidance for firms on issue escalation. Additionally, the Financial Ombudsman will adjust interest rates on some awards and plans to consult on varying case fees for firms.
Policy & regulationReform agendas & prioritiesComplaints and dispute resolution
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2025-07-14•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) is consulting on draft amendments to the Securities and Futures (Financial Resources) Rules to align capital requirements for licensed corporations with international standards, especially for over-the-counter derivatives. Proposals include reduced capital requirements for inter-dealer brokers, simplified transfer pricing, and exemptions for centrally-cleared repurchase transactions. Additional measures aim to facilitate trading in Mainland China, emerging markets, and digital asset futures.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-07-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a monthly increase in foreign assets of HKD 9.5 billion, bringing the total to HKD 3,596.2 billion as of end-June 2025, under the IMF’s Special Data Dissemination Standard. The Monetary Base was HKD 2,120.2 billion, with claims on the private sector at HKD 349.4 billion and foreign liabilities at HKD 31.0 billion. The HKMA issues four Exchange Fund data press releases monthly, with the next on 31 July 2025.
Data & statisticsMonetary data
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2025-07-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported on a public education event by the Hong Kong Mortgage Corporation Limited (HKMC) to promote the "HKMC Retire 3" suite and retirement planning. The event highlighted the Reverse Mortgage Programme, Policy Reverse Mortgage Programme, and HKMC Annuity Plan, attracting around 300 participants. HKMC plans to enhance elderly financial education with over 150 seminars in 2025, supporting the Government's silver economy.
Financial literacy & educationFinancial literacy and education
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2025-07-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites and internet banking login screens linked to China Construction Bank (Asia) Corporation Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-07-14•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has accredited a representative office of Citibank AS to explore the financial market and expand cooperation with local entities. Citibank AS is a subsidiary of Citibank (USA) in Türkiye, with Citibank providing banking and asset management services globally.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) revoked Bandid Champakhaem's non-life insurance broker licence for failing to arrange insurance or remit premiums from Khon Kaen University students. The revocation bars him from acting as an insurance agent or broker for five years. The OIC is collaborating with industry associations to prevent premium misappropriation by intermediaries, proposing direct premium payments to insurers and stringent cash handling controls.
EnforcementInvestigations & enforcement actionsOther
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2025-07-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission held its second "OIC Meets CEO 2025" meeting with insurance executives, focusing on prudential supervision, financial reporting, data use, fraud risk, and intermediary oversight. Discussions included adjustments to risk-based capital requirements, ESG policy standards, and enhancements to the Early Warning System. The OIC aims to deepen data use through the Health Link platform and modernize intermediary supervision with e-Licensing and electronic payment channels.
SupervisionSupervision approach, priorities & toolkitOther
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2025-07-14•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan engaged with Standard & Poor’s analysts to discuss Tajikistan’s sovereign credit rating. Chairman Firdavs Tolibzoda highlighted recent banking and macroeconomic developments, including banking-sector conditions, monetary policy, inflation control, financial stability, and international reserves management. The central bank emphasized considering regional factors, GDP growth, and ongoing reforms in the forthcoming rating.
Policy & regulationInternational standards & recommendationsCredit ratings
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2025-07-14•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) updated its Manual of Accounting Practices and Procedures, adding a section on accounting for securitization operations involving Letras de Risco de Seguro (LRS). This mandates separate accounting for each operation by special purpose insurance companies, in line with National Council of Private Insurance Resolution No. 453/2022. The manual applies to all SUSEP-supervised entities and is currently in effect.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-14•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities and Commodities Authority reported record first-half milestones and outlined strategic initiatives to accelerate financial market development. Key decisions include strengthening corporate governance, promoting market innovation, and developing human capital. The SCA aims to align regulatory frameworks with global best practices to enhance competitiveness and attract investment.
Policy & regulationReform agendas & prioritiesMarket developmentCorporate governance
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2025-07-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines updated its list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) for non-resident investments in resident firms, effective Q1 2025. Authorized Agent Banks and their foreign exchange subsidiaries must not honor these BSRDs for foreign exchange transactions related to capital repatriation or earnings remittance. This update aligns with Section 38 of the amended Manual of Regulations on Foreign Exchange Transactions.
Policy & regulationGuidance & interpretationLicence withdrawal
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2025-07-14•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand will open the second phase of applications for the Exchange Settlement Account System (ESAS) in September 2025, allowing broader access to include payment service providers, overseas deposit takers, and operators of designated financial market infrastructures. This follows the expansion of ESAS access criteria in March 2025, enabling more non-bank entities to apply.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-07-14•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's analysis highlights how an ageing population may reshape the financial system, affecting savings, borrowing, and investment behaviors, with implications for interest rates, asset prices, and financial product demand. The Bank anticipates increased savings and asset values, reduced mortgage demand, a shift towards lower-risk investments, and potential impacts on monetary and fiscal policy.
ResearchEconomic data and developments
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2025-07-14•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) reviewed 254 independent audit reports on closed pension entities, finding most compliant with rules. Of the reports, 74.02% had no reservations, 1.97% received qualified opinions, and one entity failed legal requirements. PREVIC will notify councils of entities using uncertified professionals and use findings to refine regulations and support monitoring.
SupervisionReviews, inspections & stress testsAuditing
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2025-07-14•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) issued a circular detailing governance and business organisation requirements for Solvency II insurance undertakings under the German Insurance Supervision Act and EU regulations. Effective 14 October 2025, it applies to direct and reinsurance undertakings, including certain holding companies, and incorporates EIOPA guidelines. It outlines expectations on risk-based implementation, governance, risk management, and outsourcing, while repealing BaFin Circular 02/2017 (VA).
Policy & regulationGuidance & interpretation
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2025-07-14•Estonia•Finantsinspektsioon
Estonia's Financial Supervision Authority (Finantsinspektsioon) withdrew Sortter OÜ’s credit intermediary licence at the firm's request, noting the business never commenced operations or signed consumer credit contracts. The licence was initially issued on 11 October 2024 and withdrawn on 11 July. Finantsinspektsioon reports seven licensed credit intermediaries currently operate in Estonia.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-07-14•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has initiated a review to enhance its understanding of how New Zealanders access financial advice, focusing on advice quality, accessibility, and potential trade-offs. Findings will inform regulatory focus and may lead to new guidance, adjusted monitoring priorities, and recommendations for improvements.
SupervisionRisk monitoring & watch pointsConsumer and investor protection
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2025-07-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission released a consolidated "response to comments" document for a draft circular amending reporting requirements for securities market intermediaries. The changes affect securities investment fund management companies, representative offices, branches of securities companies, and foreign fund management companies in Vietnam. This publication aligns with the Government’s Decree 78/2025/ND-CP.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-14•Vietnam•Vietnam State Securities Commission
The State Bank of Vietnam is soliciting feedback on a draft circular to amend Circular No. 17/2024/TT-NHNN regarding payment accounts at service providers.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-14•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the UK are collaborating to accelerate clean energy transition and sustainable infrastructure in Southeast Asia, supported by the UK's pledge of up to GBP 70 million to Singapore's FAST-P. The initiative aims to mobilize up to USD 5 billion for low-carbon projects, with joint technical assistance and measures to encourage private sector participation. FAST-P includes a Singapore Government pledge of up to USD 500 million, matched by other partners to attract commercial finance.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-07-14•Estonia•Central Bank of Estonia
The Central Bank of Estonia released its monthly flash estimate of the balance of payments for two months prior, noting that the second quarter data will be published on 10 September 2025. The monthly estimate, based on limited data and partly subjective, is adjusted once quarterly figures are available. Statistical releases are distinct from economic policy announcements.
Data & statisticsBalance of payments and other external statistics
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2025-07-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has launched a public consultation on a draft regulation to replace CVM Resolution 106, requiring listed companies to adopt CPC Technical Pronouncement 51 for financial statement presentation and disclosure from 1 January 2027. CPC 51 updates presentation requirements, including income and expense classification, aligning with IFRS 18 while incorporating Brazil-specific adaptations. No regulatory impact analysis was conducted due to an exemption under Decree 10.411/20.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-14•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) joined the International Organization of Securities Commissions’ International Securities and Commodities Alerts Network (I-SCAN) to combat online investment fraud. This membership allows AFSA to publish global fraud warnings and strengthens its oversight of digital financial services. AFSA also urged Kazakhstani online platforms to engage with I-SCAN, emphasizing compliance and information sharing.
SupervisionCooperationCross-border cooperation
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2025-07-14•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay is consulting on updated rules for Payment Initiation Service Providers in the Instant Payments System. The proposal aligns the regime with Law 7503/2025, brings fintech providers into scope and updates authorization, operational and security requirements. It also emphasizes information security, cybersecurity and fraud prevention.
Policy & regulationRules & requirementsPayments and payment systems
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2025-07-14•Paraguay•Central Bank of Paraguay
The executive branch has nominated Marco Aurelio González Maldonado to join the Central Bank of Paraguay's board. The nomination will be sent to Congress for approval, and he would take office on August 15, 2025, if confirmed. González has 25 years at the central bank and currently serves as Procurator General of the Republic.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Global•Institute of International Bankers
The Institute of International Bankers congratulated Jonathan Gould on his confirmation as Comptroller of the Currency by the U.S. Senate, noting his prior experience and expressing eagerness to engage with him on international banking issues. The statement also acknowledged Acting Comptroller Rodney Hood for his recent leadership.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, finance operations, and supply chains, with winning projects showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced the departure of Huston Loke, its first Executive Vice President, Market Conduct, effective 31 July 2025. Loke's tenure included significant contributions to insurance conduct, mortgage brokering, and title protection, as well as chairing the Canadian Council of Insurance Regulators. A transition plan will be announced shortly.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-14•Poland•Central Bank of Poland
The Central Bank of Poland reported a widening current account deficit of PLN 7.4bn in May 2025, up from PLN 2.0bn in May 2024. The deficit was driven by primary income, trade in goods, and secondary income shortfalls, despite a services surplus. Goods exports increased by 3.4% year on year, with notable growth in toys, clothing, and pharmaceuticals, while imports rose 4.5%, influenced by armament deliveries and higher consumer goods inflows.
Data & statisticsBalance of payments and other external statistics
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2025-07-14•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has released a product approval checklist detailing required information and documentation for new or revamped insurance product applications. The checklist includes application forms, policy documentation, marketing materials, premium rating structures, actuarial analysis, and service level agreements. It mandates IRA approval for changes to submitted documents, excluding the business plan.
Policy & regulationGuidance & interpretationLicence approval
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2025-07-14•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has introduced a Product AML Risk Assessment tool for insurers to evaluate money laundering and terrorist financing risks in insurance products. It assesses product, client, geographical, and distribution channel risks, assigning low, medium, or high ratings based on a comprehensive matrix. It incorporates inputs like product class, premium details, customer type, and geographical coverage, mapping results to specific risk thresholds.
Policy & regulationGuidance & interpretationAML and CFT
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2025-07-14•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC urges bondholders of Energy Absolute's EA269A and EA289A series to review information and exercise their rights at a reconvened meeting on 16 July. Bondholders will vote on waiving non-compliance with meeting procedures and an event of default related to restructuring proposals, including changes to maturity, interest rates, and principal repayment schedules. The SEC requires the bondholders' representative to assess impacts of approval or rejection and encourages bondholders to seek further details before voting.
SupervisionRisk monitoring & watch pointsCorporate governance
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2025-07-14•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC updated its guidance on the Ministerial Directive for financial transactions linked to Iran, emphasizing high-risk treatment and enhanced due diligence. The directive applies to various financial entities, mandating comprehensive identification, recordkeeping, and reporting, regardless of transaction amount. FINTRAC outlines specific reporting instructions and notes potential compliance assessments and penalties for breaches.
Policy & regulationGuidance & interpretationAML and CFT
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2025-07-14•United Kingdom•HM Treasury
HM Treasury released guidance on the UK's outcomes-based approach for recognising overseas regulatory frameworks, detailing principles for designations and processes for monitoring and amending them. Designations, made by statutory instrument with parliamentary scrutiny, may be partial or conditional, and ongoing oversight includes proportionate monitoring. The guidance also plans to restate around 270 EU equivalence decisions in UK law and includes a memorandum of understanding with key regulators for coordination.
Policy & regulationGuidance & interpretationCross-border payments
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2025-07-14•Europe•European Payments Council
The European Payments Council and Swift have released videos to explain the EPC Directory Service for participants in the VOP scheme. The materials cover EDS registration, delegation of data management to Routing and Verification Mechanisms, use of the graphical user interface, and the automated download service for the daily EDS Local File. Technical specifications and user guides are available on the official EDS documentation page.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, finance operations, and supply chains, with winning projects to be showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation (GLEIF) has launched the vLEI Hackathon, inviting global participants to develop solutions using the verifiable Legal Entity Identifier (vLEI) for digital assets, financial operations, and supply chains, with winning projects to be showcased at major industry events.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-07-14•Russia•Central Bank of Russia
The Central Bank of Russia plans to enhance IPO regulation by improving issuer disclosures and tightening listing conditions. Key measures include converting the securities prospectus summary into a concise document with essential financial and strategic information, and requiring independent analytical reports on fair value. These changes aim to be finalized by the end of 2025.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-14•Global•Financial Standards Planning Board
The Financial Planning Standards Board (FPSB) released its 2024 Annual Report, detailing a 3.1% increase in CERTIFIED FINANCIAL PLANNER (CFP) professionals globally and highlighting initiatives such as updates to CFP certification, new educational content, and international collaborations, including engagement with the International Organization of Securities Commissions (IOSCO) and support for global financial education campaigns.
Financial literacy & educationOther
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2025-07-14•United States•U.S. Financial Services Committee
The U.S. House Financial Services and Agriculture Committees outlined their "Crypto Week" agenda, focusing on a regulatory framework for digital assets. Key developments include the bipartisan passage of the Digital Asset Market Clarity Act, clarifying roles for the SEC and CFTC, enhancing consumer protections, and supporting innovation. The agenda also considers bills to prevent a government-run digital dollar and establish a framework for payment stablecoins.
Policy & regulationReform agendas & priorities
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2025-07-14•Egypt•Egypt Financial Regulatory Authority
The Chair of the Egypt Financial Regulatory Authority announced expanded corporate governance expectations for approximately 3,500 non-banking financial institutions. Key initiatives include mandatory female board representation, ESG and TCFD disclosures, and the launch of Egypt’s first voluntary carbon market. The Authority is developing a unified methodology for evaluating company reports and has introduced classifications for sustainability bonds and criteria for green investment funds.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-07-14•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint statement on risk-management considerations for banks offering crypto-asset safekeeping services. It emphasizes adherence to existing risk-management principles and compliance with applicable laws, without introducing new supervisory expectations. The agencies are exploring further clarity on banks' involvement in crypto-asset activities.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-14•United States•Federal Reserve Board
The Federal Deposit Insurance Corporation, the Federal Reserve Board, and the Office of the Comptroller of the Currency issued a joint statement on risk management for banks holding crypto-assets for customers. The statement reaffirms that existing risk-management principles apply and emphasizes compliance with laws and regulations. It clarifies that no new supervisory expectations are introduced, while further guidance on crypto-asset activities is being explored.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) finalized regulations for the Consolidated Debt Registry (REDEC) under Law No. 21,680, enhancing the Debt Report with new reporting entities and debtor rights. General Rule No. 540 outlines operational requirements, data security, and debtor rights, while the Information Systems Manual details reporting and management systems. Key changes include extending consent-based access for entities and clarifying audit requirements.
Policy & regulationRules & requirementsRegulatory reporting
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2025-07-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) has initiated a second public consultation on amendments to the Updated Compilation of Rules for Banks, aligning with the Fintech Act (Law No. 21,521). The proposal addresses customer service channels, including operating hours, service mechanisms, and conditions, incorporating feedback from the first consultation. The CMF also plans to repeal the December 31 banking holiday and may propose further regulatory changes.
Policy & regulationRules & requirementsFintech and insurtech
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2025-07-14•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) warns that the province's credit union model faces challenges from stagnant membership, declining market share, and uneven technology. Increasing demands in cybersecurity, conduct, and compliance outpace many institutions' capacities, necessitating a system redesign. Two approaches are proposed: consolidation into fewer, larger credit unions or maintaining local autonomy with centralized platforms and shared services.
Policy & regulationReform agendas & prioritiesOther
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2025-07-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported stable banking operations amid the transition to a two-tier local government model and initiated policy-backed lending for a rice cultivation scheme. Agribank leads the scheme without a credit cap, while seven other banks have registered VND 17,000 billion for the pilot phase, with VND 5,200 billion disbursed by June 2025. SBV will direct banks to expedite disbursements and collaborate with authorities to resolve challenges.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-14•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency issued a joint statement on risk management for banks offering crypto-asset safekeeping services. It emphasizes adherence to existing risk-management principles and compliance with applicable laws, without introducing new supervisory expectations. The agencies are exploring further guidance on banks' involvement in crypto-asset activities.
Policy & regulationGuidance & interpretationClient asset custody and safekeepingTokenization
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2025-07-14•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency outlined Acting Comptroller Rodney E. Hood’s agenda, focusing on strengthening the federal banking system, reducing regulatory burdens, and promoting financial inclusion. Key actions include conditional approval of Discover Bank’s merger into Capital One, support for modifying leverage ratios and capital standards, and initiatives on digital assets and fintech partnerships. The update also highlights efforts to mitigate payments fraud and enhance financial literacy.
Policy & regulationRules & requirementsFintech and insurtechRegulatory burdenFinancial inclusion
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2025-07-14•Global•Financial Stability Board
FSB Chair Andrew Bailey outlined strategic priorities in a letter to G20 Finance Ministers and Central Bank Governors, emphasizing international coordination for financial stability. Priorities include enhancing surveillance, addressing financial stability risks, and strengthening FSB effectiveness, focusing on data improvement, cross-border payments, climate impacts, and leverage effects. The letter, submitted ahead of the G20 meeting in Durban, also stresses vigilance against market disruptions amid geopolitical tensions.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-07-14•Global•Financial Stability Board
Financial Stability Board Chair Andrew Bailey submitted three deliverables to the G20: policy recommendations on nonbank financial intermediation (NBFI) leverage, a workplan for nonbank data challenges, and an update on the climate risk roadmap. The NBFI report emphasizes monitoring leverage-related risks and calls for flexible policy measures, while the data workplan addresses challenges in data availability and quality. Bailey also outlined priorities such as enhancing surveillance, supporting NBFI policy implementation, and focusing on stablecoins and cross-border payments.
Policy & regulationImplementation, projects & pilots
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2025-07-14•Canada•Alberta Securities Commission
The Alberta Securities Commission has sanctioned Raymond Cawaling and RTAX Financial Corp. for illegal securities distribution and investor fraud, including misappropriating at least CAD 462,421. The ASC ordered them to pay CAD 462,421, an administrative penalty of CAD 175,000, and costs of CAD 81,755. Cawaling faces permanent market-access bans, and RTAX is permanently barred from trading or advising in securities or derivatives.
EnforcementInvestigations & enforcement actionsFraud and scamsSecurities offerings and listings
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2025-07-14•United Arab Emirates•Ministry of Economy (UAE)
The UAE Ministry of Economy reported on the Economic Integration Committee's fifth 2025 meeting, chaired by Minister Abdulla bin Touq Al Marri, focusing on regulatory enhancements. Key developments include digital integration of the National Economic Register with emirate-level licensing authorities and preparations for the 2027 Financial Action Task Force mutual evaluation. The UAE's removal from the European Parliament’s high-risk third-country list was attributed to its robust regulatory framework and adherence to AML/CFT standards.
Policy & regulationImplementation, projects & pilots
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2025-07-14•Nepal•Central Bank of Nepal
The Central Bank of Nepal released a report from its Banking Sector Reform Suggestion Task Force, aimed at enhancing the banking sector. The task force, led by Prof. Dr. Rewat Bahadur Karki, submitted both preliminary and final reports to Governor Prof. Dr. Bishwanath Paudel.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk