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2025-07-08•Global•Financial Action Task Force
The Financial Action Task Force (FATF) released a report on evolving terrorist financing risks, noting 69% of assessed jurisdictions have significant deficiencies. The report highlights diverse TF methods, including digital platforms and legal entity abuse, stressing the need for risk-based countermeasures. Recommendations include enhancing international cooperation and developing targeted public-private partnerships.
Policy & regulationInternational standards & recommendationsAML and CFT
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2025-07-08•Anguilla•Anguilla Financial Services Commission
The Anguilla Financial Services Commission issued guidelines for Trust and Corporate Service Providers (TCSPs) on appointing a custodian to maintain records after a TCSP licence cancellation. The guidelines detail custodian responsibilities, agreement terms, and assessment criteria, including expertise and compliance with Anti-Money Laundering requirements. Custodian appointments require Commission approval and involve ongoing reporting and compliance obligations.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-07-08•Moldova•National Bank of Moldova
The National Bank of Moldova's Governor, Anca Dragu, stressed the need for action in women's financial inclusion at a UN Women Moldova event, highlighting the country's seventh-place ranking in the World Economic Forum’s 2025 Global Gender Gap Index. Dragu outlined the bank's initiatives, such as the "FinanciarELE – community of female leadership" project, noting women constitute 64% of staff and 53% of managerial roles. A subsequent workshop aimed to generate practical solutions for enhancing women's access to financial services.
Financial literacy & educationDiversity and inclusion
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2025-07-08•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission announced the Legislative Yuan's approval of an amendment to extend tax exemptions for offshore insurance branches to 31 December 2035. The exemptions cover business income tax, business tax, stamp tax, and income tax withholding. This measure aims to position Taiwan as an Asian asset management center by encouraging product development and strengthening ties with offshore banking and securities branches.
Policy & regulationRules & requirementsOther
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2025-07-08•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced three new entries under the Chemical Weapons sanctions regime, aligning with the UK sanctions list update on 7 July 2025. The additions include Major General Aleksey Viktorovich Rtishchev, Major General Andrei Marchenko, and a Russian research institute, all subject to asset freezes and trust services sanctions. The Treasury emphasized immediate asset freezing and reporting obligations for suspected matches.
EnforcementSanctions & designationsSanctions list update
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) received the WSIS Champion 2025 award at the World Summit on the Information Society Forum for its "Financial Inclusion Dashboard: Enabling Data-Driven Decisions for Inclusive Growth" project. Recognized among the top five in the "WSIS Action Line: Access to Information and Knowledge" category, it provides real-time data to support financial inclusion and sustainable economic growth. The award, presented by ITU Secretary-General Doreen Bogdan-Martin, followed competition against over 60 projects.
OtherFinancial inclusion
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority (PMA) Governor met with Italy’s Consul General in Jerusalem to discuss financial stability amid an ILS accumulation crisis due to Israeli currency transfer limits. The PMA warned of potential severed banking relations with Israeli correspondent banks, impacting citizens and commercial supply chains. Italy committed to supporting Palestine's financial stability and cooperation in enhancing digital infrastructure and electronic payment systems.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-07-08•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority and Palestinian Land Authority have launched a service for electronic payment of Land Authority fees via E-SADAD. Initially, fees can be paid through banking apps and e-wallets, with future plans for electronic property purchase payments. This aims to reduce cash reliance amid the banks' Israeli shekel accumulation crisis.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Israel•Bank of Israel
The Bank of Israel's July 2025 staff forecast projects GDP growth of 3.3% in 2025 and 4.6% in 2026, with inflation at 2.6% and 2.0% respectively, and an average policy rate of 3.75% by Q2 2026. The forecast, assuming no renewed conflict in Gaza, highlights high uncertainty due to geopolitical factors, US tariffs, and fiscal decisions, with fiscal deficits projected at 4.9% of GDP in 2025 and 4.2% in 2026, and debt at 70% and 71% of GDP.
ResearchEconomic data and developments
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2025-07-07•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has launched a new e-commerce payments interface to bolster national payments infrastructure and support the e-commerce sector. This interface facilitates integration between the "mada" payment system and global networks, expands payment options, and introduces a centralized registration service for banks to offer financing solutions. It also includes payment card tokenization to enhance transaction security.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia announced that sales of its Bono BCB Bicentenario reached over Bs45.3 million in the first eight days, indicating strong demand. La Paz led with 77.56% of sales, and most transactions occurred in person. The bond offers a fixed rate of 9.75% plus a variable component linked to gold price changes, with a projected total return of up to 14.75%.
Monetary policyMonetary policy instruments & operationsFinancial and market indicators
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2025-07-07•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported solid performance in its Banking and Finance System indicators for May 2025, driven by growth in credit and deposits. Public deposits rose 9.9% year-on-year to NIO 255,529.6 million, while the credit portfolio increased 15.8% to NIO 220,996.2 million. Liquidity was strong at 34.1%, with profitability and capital metrics improving, including a return on equity of 13.6% and a capital adequacy ratio of 18.6%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-07-07•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay's Vice President, Ana Claudia de los Heros, participated in the Mercosur meeting of economy ministers and central bank presidents in Buenos Aires. The session, chaired by Argentina’s Economy Minister Luis Caputo, focused on maintaining fiscal stability and advancing economic and trade integration within the bloc.
Policy & regulationCooperationOther
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2025-07-07•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its consolidated balance sheet statement as of 31 May 2025.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority (CMA) approved a framework for Saudi depositary receipts representing foreign shares. This allows foreign companies to register and offer these receipts in Saudi Arabia, contingent on CMA approval, aligning with existing requirements. Amendments to related rules were published by Tadawul and the Securities Depository Center Company (Edaa) after public consultation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-07-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority announced that Osool & Bakheet Investment Company has fulfilled the requirements to commence the Arranging activity in the securities business. This follows the CMA's prior approval of the firm's license for Arranging under the Capital Market Law and its Implementing Regulations.
SupervisionAuthorisations & approvalsLicence approval
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2025-07-07•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported a 1.67% monthly decline in the aggregate balance sheet total of Luxembourg credit institutions to EUR 967.803bn as of 31 May 2025, due to reduced claims on banks and lower debts to other sectors. The interbank balance decreased by EUR 13.363bn (5.34%), while loans to non-bank customers fell by EUR 0.779bn (0.68%) month on month but rose by EUR 2.330bn (2.08%) year on year. Resident non-bank deposits contracted by EUR 3.766bn (1.21%) from April to May but increased by EUR 24.581bn (8.68%) over the year, with significant growth in deposits from other financial intermediaries.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission held a session for media on its Information Dissemination System (SDI), highlighting its role in publishing investor-relevant information for securities on regulated markets. The SDI ensures timely disclosure of issuer information per the Securities Code, with issuers responsible for accuracy. The CMC emphasized the SDI as the primary channel for capital market information and encouraged collaboration with issuers and media.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority’s Disciplinary Board fined IFA Hotels and Resorts Company KWD 20,000 and its auditor, Grant Thornton Office, KWD 5,000 for breaches of Listing Rules and the Securities Activities framework related to 2023 financial statements. The violations involved non-compliance with International Accounting Standard 28, where IFA inflated its investment in an associate, and Grant Thornton failed to report this in its audit.
EnforcementSanctions & designationsAccounting and financial reportingDisclosures
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority Disciplinary Board fined Trade Centers Real Estate Company and its executives for corporate governance breaches, including unauthorized share sales, undisclosed disciplinary decisions, and resource mismanagement. Sanctions included KWD 5,000 and KWD 2,000 fines on the company, plus additional fines and warnings for the board chair, CEO, and audit committee members.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KD 15,000 penalty on a MENA Real Estate Company board member for violating disclosure and transparency rules. The violations involved purchasing shares during a prohibited period and late disclosure of a share purchase. The decision includes notifying the CMA Board of Commissioners and relevant parties.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority's Disciplinary Board fined Kuwait and Gulf Link Transport Company and several executives for breaching listing and corporate governance rules. The violations involved non-compliance with IFRS 13 Fair Value Measurement in an impairment testing valuation document. The company was fined KD 10,000, and individual fines of KD 5,000 were imposed on the chairman, vice chairman, three former board members, and the CFO.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-07-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority imposed a KWD 5,000 penalty on Independent Petroleum Group Company for failing to disclose several credit facilities contracts, breaching disclosure and transparency requirements. The undisclosed agreements, signed between January 2023 and September 2024, involved amounts up to USD 360 million and KWD 89.2 million, affecting asset ratios from 7.4% to 22.3%.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-07-07•Israel•Bank of Israel
The Bank of Israel reported that foreign exchange reserves reached USD 228,250 million at the end of June 2025, an increase of USD 4,611 million from the previous month, driven mainly by a revaluation gain of USD 5,215 million. Reserves accounted for 41.6 percent of GDP, with USD 223,651 million held outside the International Monetary Fund and USD 4,599 million at the IMF.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Australia•Australian Securities & Investments Commission
ASIC is consulting on remaking five legislative instruments for financial reporting relief, expiring on 1 October 2025. It plans to retain the relief with minor updates, including drafting style changes and clarifying that Instrument 2015/251 excludes registrable superannuation entities. The instruments under review are ASIC Corporations Instruments 2015/841, 2015/842, 2015/839, 2015/838, and 2015/251.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-07-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned financial adviser Barry David King from providing financial services due to his lack of fitness and propriety. King concealed information, made false representations, mismanaged client funds, and failed to inform clients about investments. The ban, effective 1 July 2025, is recorded on ASIC’s Banned and Disqualified Register. King may seek a review, and ASIC's investigation continues, with court orders preventing his departure from Australia extended to 1 July 2025.
EnforcementSanctions & designationsFitness and propriety
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2025-07-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has appealed the Federal Court's decision dismissing part of its case against HCF Life Insurance Company Pty Ltd over a "pre-existing condition" term. The Court found the term misleading but not unfair, which ASIC contests. ASIC argues it allowed denial of coverage based on retrospective medical opinions. The term, used in HCF Life's Recover range, was replaced in November 2023. HCF Life contacted affected policyholders, published a corrective notice, and was fined AUD 750,000.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-07-07•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority’s Insurance Commission issued an opinion on delaying the repeal of Article 23 of the Law on compulsory motor vehicle liability insurance. The opinion was requested by Deputy Prime Minister David Clarinval and is available in French and Dutch.
Policy & regulationGuidance & interpretationOther
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2025-07-07•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported international reserves at USD 45,065.6 million as of 1 July 2025, a 1.2% increase from June, driven by significant inflows from international partners. Inflows under the G7 Extraordinary Revenue Acceleration for Ukraine initiative totaled USD 4,087.3 million, with contributions from Canada, the World Bank, and the IMF. The reserves cover 5.6 months of future imports, with the National Bank of Ukraine being a net seller of USD 2,955.0 million in June.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Kenya•Central Bank of Kenya
The Central Bank of Kenya has launched a survey to gather feedback on its Total Cost of Credit website, developed with the Kenya Bankers Association to enhance transparency in loan product comparisons. The survey aims to assess usability and identify improvements as the platform is updated to reflect changes in the financial landscape.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-07-07•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market outlined its roadmap for sustainable financial instruments in post-war reconstruction, emphasizing green, social, and sustainable bonds. Key priorities include countering greenwashing, enhancing transparency, and aligning domestic frameworks with international standards. Discussions also focused on attracting private capital for Ukraine's green reconstruction through these bonds.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-07-07•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has launched a new e-commerce payments interface to enhance Saudi Arabia’s national payment infrastructure and support the e-commerce sector. This interface integrates the mada payment system with global networks and introduces a centralized registration service for banks to offer financing solutions. The initiative aligns with SAMA's strategy to develop the e-payments ecosystem and advance digital payments and financial technology objectives.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan concluded 1,761 adjudication proceedings in FY 2024-25, imposing penalties totaling PKR 425 million. Key issues included unauthorized investments, weak governance, and financial reporting lapses among 267 publicly listed companies, with actions against Non-Banking Finance Companies and AML/CFT breaches. The SECP also addressed violations in the brokerage and insurance sectors, issuing penalties and directives for compliance.
EnforcementInvestigations & enforcement actionsCompliance
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2025-07-07•United States•National Credit Union Administration
The National Credit Union Administration (NCUA) is monitoring severe weather in Texas, offering support to affected credit unions and ensuring member deposits are protected. NCUA examiners are assessing operations and assistance, reiterating insurance coverage limits of up to USD 250,000. The NCUA may encourage prudent loans, reschedule examinations, and provide liquidity support, with low-income credit unions eligible for Urgent Needs grants.
SupervisionInterventionsOperational risk and resilience
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2025-07-07•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance outlined key topics for the Eurogroup and Economic and Financial Affairs Council meetings, including euro area fiscal policy coordination, the digital euro legislative framework, and Bulgaria's euro area accession. Discussions will address the euro area fiscal stance for 2026 budgets, digital euro regulations, and Bulgaria's accession legal acts. ECOFIN will also consider EU securitisation framework improvements and other economic impacts, including Russia's war in Ukraine.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2025-07-07•Europe•European Banking Authority
The European Banking Authority has initiated a public consultation on draft Guidelines for Ancillary Services Undertakings, clarifying criteria under Article 4(1)(18) of the Capital Requirements Regulation. The Guidelines aim to ensure consistent application of the prudential framework by defining activities as a "direct extension of banking" or "ancillary to banking," promoting convergence and comparability of prudential requirements across the EU.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-07-07•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has launched a testing phase for its new "Management of MMF reports" procedure on the eDesk PREPROD platform, ahead of changes to money market fund reporting methods effective 1 September 2025. Available since 1 July 2025, the platform supports two collection methods and is designed for professionals to test procedures. The CSSF has updated the user guide and reiterated the platform's purpose.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-07-07•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) convened the second meeting of the Advisory Board of its Health Insurance Observatory. Established in 2024, the Observatory aims to enhance published information by consulting and sharing diverse member perspectives.
Policy & regulationImplementation, projects & pilotsOrganizational structure
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2025-07-07•Portugal•Bank of Portugal
The Bank of Portugal updated its long-run statistical series for the banking sector, revealing a record net profit of EUR 6,288 million in 2024, driven by increased net interest income and reduced provisions for credit defaults. The data also shows a continued contraction in the branch network and a rise in employment, with significant shifts towards electronic payments.
Data & statisticsActivity and performance reporting
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2025-07-07•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
Botswana’s Non-Bank Financial Institutions Regulatory Authority has lifted the statutory management of Westlife Insurance Botswana (Pty) Ltd, terminating the Statutory Manager's appointment. All business dealings with Westlife are now to be directed to its management. This action was taken under Section 64(2) of the Non-Bank Financial Institutions Regulatory Act, 2023.
SupervisionInterventionsOther
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2025-07-07•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance announced Minister Kyriakos Pierrakakis will attend the Eurogroup and ECOFIN meetings in Brussels on 7-8 July. Key issues include adopting European Commission recommendations on Greece's national escape clause for defence expenditure, potentially allowing an additional EUR 500 million in 2026. The meetings will also address electing a new Eurogroup president, fiscal coordination, the digital euro, and Denmark's Presidency priorities.
Policy & regulationInternational standards & recommendationsOther
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2025-07-07•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) released data on 2024 mortgage lending transactions under the Home Mortgage Disclosure Act (HMDA) from 4,908 U.S. financial institutions, including a new national loan-level snapshot dataset. The release also includes updated HMDA datasets for 2023 and 2021, and enhancements to the Data Browser Dataset Filtering tool for customized report downloads.
Data & statisticsRegulatory reportingSupervisory data
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-475 regarding COP 10,000 banknotes, replacing Circular DTE-203 due to a shift in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-478 on COP 100,000 banknotes, replacing Circular DTE-363 due to a shift in regulatory responsibility to a different internal area.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DEP-474 concerning COP 5,000 banknotes, superseding Circular DTE-202 from July 2024 due to a change in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-477 concerning COP 50,000 banknotes, superseding Circular DTE-205 from June 2025. This update reflects a change in the regulatory oversight area.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released Operational and Services External Circular DEP-476 concerning COP 20000 banknotes, superseding External Circular DTE-204 from December 2024. This update reflects a change in the internal area responsible for the regulation.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DEP-473 concerning COP 2,000 banknotes, superseding Circular DTE-201 due to a shift in regulatory responsibility.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia has issued an external circular on COP 2,000 banknotes, repealing the previous DTE-201 circular from 16 April 2025 in its Treasury Manual.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued a new Operational and Services External Circular for the Treasury Manual concerning COP 50,000 banknotes, repealing the previous circular from 18 June 2025.
Policy & regulationRules & requirementsCurrency and cash management
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2025-07-07•Laos•Bank of the Lao
The Bank of the Lao reported on the Securities Commission's second meeting of 2025, which reviewed past resolutions and approved the work plan for H2 2025. Chaired by Deputy Prime Minister Saleumxay Kommasith, the meeting emphasized strengthening the Lao capital market, supporting state-owned enterprise reform, promoting green bonds, and implementing International Financial Reporting Standards for listed companies.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•Laos•Bank of the Lao
The Bank of the Lao PDR reported on Governor Bounkham Vorachit's meeting with a delegation from the Export-Import Bank of Thailand to discuss economic, trade, and investment developments. The discussions included potential cooperation to support Lao and Thai businesses and a strategy to provide Lao kip credit through Lao commercial banks with collateral.
Policy & regulationCooperationOther
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2025-07-07•United States•National Futures Association
The US National Futures Association (NFA) has barred Revankar Consultancy LLC and its former principal, Shailendra Revankar, from reapplying for NFA membership or acting as principals of an NFA Member. This enforcement action follows a Business Conduct Committee decision based on a complaint alleging violations of NFA Compliance Rules, including improper handling of pool assets and failure to prioritize participants' interests.
EnforcementInvestigations & enforcement actionsCompliance
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2025-07-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) held its second Digital Asset Consultative Panel meeting with licensed virtual asset trading platforms, focusing on regulatory developments in Hong Kong's digital asset sector. Discussions included proposals for regulatory regimes for virtual asset dealing and custodian service providers, as well as expanding market accessibility and product offerings. The panel's name was updated to align with the Government’s Policy Statement 2.0 on digital assets.
Policy & regulationCooperation
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2025-07-07•Zimbabwe•Zimbabwe Insurance and Pensions Commission
The Zimbabwe Insurance and Pensions Commission (IPEC) conducted a workshop in Harare to address IFRS 17 compliance issues among funeral assurers and their actuarial advisers. The sector has struggled with reporting due to capacity and skills gaps, impacting its ability to publish quarterly reports since December 2023. The workshop focused on IFRS 17 principles and measurement models, with the sector committing to improve reporting accuracy.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-07-07•Austria•Austria Financial Market Authority
Mariana Kühnel has assumed the role of Executive Director at the Austrian Financial Market Authority (FMA) as of 6 July 2025, succeeding Eduard Müller. Nominated by the Federal Minister of Finance and appointed by the Federal President, Kühnel brings extensive experience in European policy and financial services, including senior positions at Erste Group Bank and the Austrian Federal Economic Chamber.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported Hong Kong's foreign currency reserve assets at USD 431.9 billion as of end-June 2025, up from USD 431.1 billion in May. Including unsettled foreign exchange contracts, the total was USD 431.8 billion. These figures are part of the HKMA's monthly Exchange Fund data releases, aligned with the IMF's Special Data Dissemination Standard.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, phishing emails, and fake internet banking screens affecting Bank of Singapore Limited, China CITIC Bank International Limited, and OCBC Bank (Hong Kong) 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 relevant bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-07-07•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released an Application Paper on fair treatment of consumers to aid in implementing Insurance Core Principle 19 on conduct of business. The guidance addresses embedding fair treatment in business culture and throughout the insurance product lifecycle, covering areas such as product design, distribution, and customer assistance. The IAIS also published public consultation comments from 2024 and announced a webinar for discussion.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-07-07•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that AIFCAP Managers Ltd has initiated the dissolution and liquidation of ACORN TO OAKS RAIF V.C.I.C. PLC. The fund will remain on the RAIFs Registry with a "under liquidation" notice until the process is finalized. CySEC will remove the fund from the registry upon completion and submission of required documents.
SupervisionAuthorisations & approvalsRecovery and resolution
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2025-07-07•Global•Bank for International Settlements
The Bank for International Settlements released a working paper proposing a method to integrate physical climate risk into banks' credit risk models and capital calculations. The approach modifies the Vasicek framework by adding a physical-risk component, affecting probability of default and loss given default. An example shows risk-weighted assets could increase by 8% to 16% under certain conditions, highlighting the impact of climate-adjusted metrics.
ResearchClimate risk and sustainable finance
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2025-07-07•Global•Bank for International Settlements
The Bank for International Settlements released a paper on achieving "quantum-readiness" in finance, stressing immediate preparation against future quantum threats. It calls for a coordinated overhaul of cryptographic infrastructure, with post-quantum cryptography as a near-term solution and quantum key distribution as a longer-term option. The paper highlights risks like "harvest now, decrypt later" and migration challenges, including performance trade-offs and the need for updated protocols like TLS 1.3.
ResearchQuantum computing
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2025-07-07•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission, with the Thai General Insurance Association and Khon Kaen Chamber of Commerce, launched a pilot project in Khon Kaen to promote "embedded insurance" in the restaurant sector. The initiative connects local operators with insurers, providing third-party public liability coverage to 30 participating restaurants. Plans are underway to expand the project to other regions, including Chiang Mai, Phuket, Chonburi, and Bangkok.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank reported its official gold and foreign exchange reserves at USD 68,415 million as of 30 June 2025, an increase of USD 299 million from the previous month. The international liquidity position rose by USD 412 million to USD 65,216 million, influenced by valuation adjustments and asset price movements, despite a lower US dollar gold price and government foreign exchange payments.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank released a strategic paper on its Payments Ecosystem Modernisation Programme to enhance digital payments and reduce cash dependency. Key initiatives include a new licensing framework for non-bank participation, a national payment utility for improved interoperability, and a real-time gross settlement platform. The programme comprises five sub-programmes, with plans for industry engagement and a majority independent board for the national payment utility.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•South Africa•South African Reserve Bank
The South African Reserve Bank's June 2025 statement showed total assets of ZAR 1.27 trillion, a decrease of ZAR 1.12 billion from May. Gold and foreign assets fell to ZAR 1.22 trillion, with lower gold holdings and foreign exchange reserves, partially offset by increased special drawing rights. Liabilities saw an increase in notes and coin circulation, while bank deposits and the contingency reserve account decreased.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported that the Financial Stability Coordination Council reviewed the financial stability outlook and proposed reforms to the deposit insurance system. Despite global and local shifts, Philippine banks are well-capitalized with sufficient liquidity buffers. The Council also examined vulnerabilities related to geopolitical tensions and domestic liquidity shifts, and discussed enhancements to its analytical toolkit for systemic risk monitoring.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported an 11.3% year-on-year increase in outstanding loans from universal and commercial banks in May, driven by business and consumer lending. Lending to residents rose by 11.8%, while loans to non-residents decreased by 6.6%. The bank emphasized its role in monitoring lending as a key monetary policy tool to maintain liquidity and financial stability.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-07-07•Philippines•Central Bank of the Philippines
Digital payments in the Philippines accounted for 57.4% of monthly retail transactions by volume and 59.0% by value in 2024, up from 52.8% and 55.3% in 2023. Merchant payments, person-to-person transfers, and business-to-business supplier payments were key drivers, comprising 93.2% of digital payment volume. The BSP is committed to enhancing the payments ecosystem through interoperability, partnerships, and consumer safety initiatives.
ResearchPayments and payment systems
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2025-07-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a rise in the country's gross international reserves to USD 105.3 billion at end-June 2025, up from USD 105.2 billion in May, driven by government foreign currency deposits and BSP investment income. The reserves cover 7.2 months of imports and 3.3 times the short-term external debt. Net international reserves also increased by USD 0.3 billion to USD 105.3 billion.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Morocco•Central Bank of Morocco
The Central Bank of Morocco's Coordination and Systemic Risk Monitoring Committee approved the 2024 financial stability report and roadmap, noting resilience in banks and insurers but rising credit risks and strained public-sector pensions. Projections indicate GDP growth of 4.6% in 2025 and 4.4% in 2026, with inflation at 1.1% and 1.8%. The committee emphasized pension reform and progress in anti-money laundering and counter-terrorist financing before MENAFATF evaluations in 2026.
Policy & regulationReform agendas & priorities
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2025-07-07•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) issued an alert regarding a counterfeit surety bond policy falsely attributed to Croatia Osiguranje d.d., which the insurer has disowned. IVASS emphasized the importance of verifying insurers and intermediaries through its official registers and warnings. The Croatian Financial Services Supervisory Agency (HANFA) also flagged unrelated email addresses linked to the fraudulent activity.
SupervisionAlertsFraud and scams
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2025-07-07•Europe•European Council
The European Council published remarks by the Eurogroup President, confirming support for his continued tenure and setting priorities for fiscal coordination, the digital euro, and the savings and investment union. The Eurogroup reaffirmed fiscal restraint, except for defence spending, and confirmed the lev-to-euro conversion rate for Bulgaria's euro adoption. Ministers reported convergence on digital euro holding limits and will continue work on the Capital Markets Union agenda with an autumn stocktake of EU capital market performance.
Policy & regulationReform agendas & prioritiesCurrency and cash managementFinancial stability and systemic risk
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2025-07-07•Serbia•National Bank of Serbia
The National Bank of Serbia announced expanded cooperation with Discover, allowing Discover cards issued outside Serbia to be accepted via the DinaCard network. This follows the existing co-branded DinaCard-Discover product, which supports international use. Banka Poštanska štedionica will be the first bank to facilitate Discover card acceptance at its merchants and ATMs, with other banks expected to follow.
Policy & regulationCooperationCross-border payments
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2025-07-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and Kazakhstan’s Agency for Regulation and Development of the Financial Market held meetings to exchange regulatory experiences under a bilateral technical cooperation framework. Discussions included securities registration, Islamic securities regulation, securitisation, and green bonds. The visit, part of a Memorandum of Understanding signed in May 2025, aims to enhance information exchange and market oversight.
Policy & regulationCooperationCross-border cooperation
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2025-07-07•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has revised liquidity risk management rules, applying the Liquidity Coverage Ratio (LCR) in total and national currency. Systemically important banks must meet a national-currency LCR starting at 50% from 1 August 2025, increasing to 100% by 1 June 2027, while other banks start at 40%, reaching 100% by 1 December 2027. The amendments also expand high-quality liquid assets to include bank metals, state-guaranteed securities, overnight deposits, and short-term funds with the Central Bank.
Policy & regulationRules & requirementsLiquidity risk
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2025-07-07•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released Periodical No. 193 (June 2025), detailing its regulatory, supervisory, and institutional activities. The publication also aims to enhance consumer and investor understanding of the markets it oversees.
Other
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2025-07-07•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said disruptions in the Instant Payment System were caused by some entities breaching required authorization and crediting deadlines and using noncompliant mass messaging flows. It has implemented corrective measures and will determine participant-specific actions. The SPI is now operating normally.
SupervisionInterventionsOperational risk and resilience
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2025-07-07•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, in collaboration with the Derivative Broker Association in Cambodia, hosted a seminar on investment in Cambodia’s derivatives market. The event was supported by STMARKET Company Limited and Blackwell Global Investment (Cambodia) Co., Ltd, and presided over by SERC Director General Sou Socheat.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-07-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a consumer warning about a fake news article promoting investment opportunities with FortuixAgent, which is not licensed or regulated by the Commission. The article falsely uses the Commission’s logo, and consumers are advised to verify a company’s regulatory status before investing. The Commission also directed residents to its website for information on investment scams and reporting procedures.
SupervisionAlertsUnlicensed or unauthorized activityFraud and scams
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2025-07-07•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has appointed four new Senior Decision Makers to its enforcement panel, now totaling 12 members. The expansion aims to enhance availability and expedite case outcomes, not due to increased enforcement activity, as ongoing cases have slightly decreased. New appointees include Mr Raymond Cox KC, Mr Jonathan Kinnear KC, Mr Thomas Munby KC, and Mr Andrew Webster KC.
Institutional developmentLeadership change & appointments
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2025-07-07•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued an investor alert regarding JC Team Capital Inc. and its director, Parthkumar Jani, for potentially encouraging investments without proper registration. The OSC highlighted that Mr. Jani may be active in the Scarborough and Markham areas and urged investors to verify registration status and report any approaches to the OSC.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-07-07•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC hosted its third annual Sustainability Week, focusing on sustainability practices and climate-risk awareness. The event included sessions on the Philippine Sustainable Finance Taxonomy Guidelines and sustainable investments, plus activities like tree planting. The SEC highlighted initiatives such as the 2024 Sustainable Enterprise Collaboration Network and mandatory annual sustainability reports for publicly listed companies.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-07-07•Poland•Central Bank of Poland
The National Bank of Poland reported a decrease in Poland’s official reserve assets to EUR 211.1 billion at the end of June 2025, down EUR 4.1 billion from May, while the US dollar value increased by USD 4.0 billion to USD 247.6 billion. The central bank emphasized that its foreign exchange reserve management prioritizes safety and liquidity, with investments primarily in Treasury securities and diversified global equity exposure.
Data & statisticsBalance of payments and other external statistics
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2025-07-07•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission advised holders of 13 series of Energy Absolute Public Company Limited bonds to review information and exercise voting rights at the bondholders' meeting on 9 July 2025. The agenda includes waivers for procedural non-compliance and requests for event of default exemptions to modify restructuring proposals, including maturity extensions, interest rate increases, and principal repayment schedules. The SEC expects bondholders’ representatives to analyze the implications of approval or non-approval and encourages investor inquiries before voting.
Policy & regulationGuidance & interpretationCorporate governance
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2025-07-07•United Kingdom•Bank of England
The Bank of England’s Prudential Regulation Authority, the Financial Conduct Authority, and the Society of Lloyd’s will streamline regulatory approval for Lloyd’s managing agents, cutting the authorisation timeframe from 12-18 months to around six months. This revised approach, following a successful 2024 pilot, aims to improve efficiency and reduce oversight duplication while maintaining entry standards. The changes align with the PRA’s and FCA’s secondary competitiveness and growth objectives.
Policy & regulationCooperationLicence approval
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2025-07-07•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority's Coordination and Systemic Risk Monitoring Committee approved the 12th edition of Morocco’s 2024 Financial Stability Report, noting resilience in banks and insurers despite rising credit risk and pension imbalances. The committee projects domestic growth of 4.6% in 2025 and 4.4% in 2026, with inflation at 1.1% and 1.8% respectively, and stressed the need for pension reform and stronger anti-money laundering measures. The MASI equity index rose 25% by July 2025, and UCITS net assets increased 21.2% since end-2024.
SupervisionRisk monitoring & watch points
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2025-07-07•Europe•European Payments Council
The European Payments Council (EPC) seeks Directory Service Providers with directories of Bank Identifier Codes (BICs), national identifiers, and IBAN ranges to validate routing algorithms for the Verification of Payee (VOP) scheme. This initiative supports the EPC Directory Service, ensuring secure participant identification and enhancing reachability and interoperability within the VOP scheme. The EPC aims to verify Account Holding BICs and test the IBAN-to-BIC mapping algorithm for routing VOP requests.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-07-07•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini issued updated E10 and E20 banknotes reflecting the name change from Swaziland to Eswatini, maintaining design, colour, size, and substrate. The new notes feature enhanced security threads and Governor Dr. Phil Mnisi's signature, with a Government Gazette confirming their legal tender status effective 1 April 2025. The Bank advises vigilance against counterfeit and dye-stained notes, noting a decline in ATM bombing incidents.
Monetary policyMonetary policy instruments & operationsCurrency and cash management
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2025-07-07•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper exploring development scenarios for the retail unit investment funds (UIFs) market. Key proposals include expanding eligible assets, revising financial leverage limits, and considering fund-of-funds structures. The paper also suggests reducing settlement timelines for UIF transactions and potentially allowing digital financial assets, subject to regulatory frameworks.
Policy & regulationRules & requirementsOther
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2025-07-07•Russia•Central Bank of Russia
The Central Bank of Russia reported on the BRICS finance ministers and central bank governors meeting in Rio de Janeiro, focusing on financial cooperation under Brazil's presidency. Key topics included cross-border payments, settlement infrastructure, reinsurance plans, the Contingent Reserve Arrangement, transition finance, and information security. The BRICS Innovation Hub also explored AI use and regulation in the financial market, with further expert work anticipated in late 2025 and India assuming the presidency in 2026.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-07-07•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has directed the Egyptian Pool for Compulsory Insurance for Civil Liability to expedite compensation payments for the Regional Ring Road accident victims, in accordance with the Unified Insurance Law. The pool is instructed to promptly engage with victims' families and injured parties to facilitate the payment of EGP 100,000 per death and injury compensation based on assessed disability percentages.
Policy & regulationImplementation, projects & pilotsOther
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2025-07-07•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) has imposed a NOK 700,000 penalty on Forvis Mazars AS for serious deficiencies in audit execution, including a public interest entity audit. The report highlights issues in the firm's quality management, governance, and compliance with anti-money laundering requirements, citing inadequate audit evidence, procedural weaknesses, and errors in audit opinions. Finanstilsynet expects corrective actions in line with International Standard on Quality Management 1 (ISQM 1).
EnforcementInvestigations & enforcement actionsAuditing
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Nguyen Tat Thai as Deputy Head of its Forecasting, Statistics and Monetary and Financial Stability Department. This appointment aligns with the bank's integration of functions and staff from the National Financial Supervisory Commission, part of a broader political system streamlining.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Nguyen Huyen Diu as Deputy Director General of its Monetary Policy Department for a five-year term, effective from 4 July 2025. Diu, previously Head of the Research and Synthesis Division, was appointed to address the department's increasing workload and its pivotal role in monetary policy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Lê Hoàng Chính Quang as Director General of its Information Technology Department. Deputy Governor Phạm Tiến Dũng emphasized priorities such as enhancing system integration, digitizing administrative processes, and developing a technology renewal roadmap. The department will also focus on data repository research and ensuring system security.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Võ Minh Tuấn as director of Regional Branch 2 and confirmed its revised operating model effective 1 July 2025. The branch, covering Ho Chi Minh City and Dong Nai, oversees monetary, credit, and foreign-exchange policy, managing over 700 credit institution branches. It will prioritize cash operations, payment connectivity, and inspection while aligning with State Bank and local government directives for the latter half of 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-07-07•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has approved a 2025 plan to streamline 76 administrative procedures impacting production and business activities. The plan includes 69 procedures in foreign exchange, one in payments, three in monetary operations, and three in banking information technology. SBV departments are responsible for drafting the necessary legal documents to implement these measures.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-07-07•United States•U.S. Securities & Exchange Commission
The SEC’s Small Business Capital Formation Advisory Committee will meet publicly on July 22, 2025, to discuss Regulation A updates and approaches for "finders" in private-market capital raising. The agenda includes finalizing Regulation A improvements and exploring a limited exemption from broker registration for finders. Industry experts will provide insights on regulatory solutions and safeguards.
Policy & regulationReform agendas & prioritiesCrowdfunding
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2025-07-07•Egypt•Central Bank of Egypt
The Central Bank of Egypt has mandated banks to assist exporting clients in meeting international sustainability standards, including the Carbon Border Adjustment Mechanism (CBAM). This directive aims to align carbon emissions with EU and UK benchmarks to ease market entry for Egyptian goods. Banks are required to report their exporting clients to the Central Bank to manage potential banking stability risks associated with CBAM.
Policy & regulationRules & requirementsClimate risk and sustainable finance