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2025-06-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) ended its intervention in Portus – Instituto de Seguridade Social, allowing provisional management to assume office while maintaining supervision. This follows a February 2025 agreement restoring Portus's economic, financial, and actuarial balance, with a settlement of BRL 2.149 billion. PREVIC approved a final intervention report with 12 recommendations, including sponsor guarantees and strengthening internal controls.
SupervisionInterventionsOther
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2025-06-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) held meetings to draft rules for integrating ESG practices into closed pension funds' portfolios. The draft requires EFPC to map current ESG practices, set expectations for asset managers, and define service provider roles, with implementation based on materiality and relevance. Governance of investment functions is emphasized, especially for smaller entities, with separate consultations for segment S1 funds.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-06-30•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten will issue a special coloured Caribbean guilder (Cg) 0.50 coin on 1 July 2025, marking the Caribbean guilder as the sole legal tender in both countries. The coin, featuring an orange blossom and thirty pearls, will be available in two versions and minted by the Royal Canadian Mint. It will circulate through commercial banks and is expected to attract collectors.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Q4 2024 report shows a narrowing of the domestic economy's net external liability to PHP 3.5 trillion quarter-on-quarter, up from PHP 2.5 trillion year-on-year. This improvement was due to reduced net external liabilities of non-financial corporations and a shift by other depository corporations to a net external asset position, despite higher external liabilities of the general government. Households and other depository corporations increased net financial assets, while the central bank's net financial asset position remained stable.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 5.8% increase in the country's net external liability to USD 69.3 billion at end-March 2025, driven by a rise in foreign investments in Philippine assets. External financial liabilities grew by 2.7% to USD 326.8 billion, while external financial assets increased by 1.9% to USD 257.5 billion. Foreign investments were primarily in other sectors, National Government securities, and banking instruments.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 0.2% quarterly decline in foreign currency deposit unit (FCDU) loans to USD 15.78 billion in Q1 2025, while foreign currency deposits reached a record USD 58.92 billion. Year-on-year, FCDU loans decreased by 1.8%, with medium- to long-term loans comprising 77.2% of the total. Philippine-based borrowers accounted for USD 9.91 billion of the loans, mainly in export, transportation, and power sectors.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Estonia•Finantsinspektsioon
Estonia’s Financial Supervision Authority (Finantsinspektsioon) issued a precept to Herrmann, Huebner & Partner Insurance Broker OÜ for failing to publish its 2024 annual financial report on time, as required by the Insurance Activities Act. The report was due within two weeks of approval by the general meeting and no later than 1 May 2025. The decision can be appealed to the Tallinn Administrative Court within 30 days.
SupervisionInterventionsAccounting and financial reporting
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2025-06-30•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that former financial adviser Murray McClune pleaded guilty to two charges of theft by a person in a special relationship, involving approximately NZD 1.7 million misappropriated from elderly clients between 2016 and 2022. McClune issued falsified statements to conceal the misuse of funds, with the offence carrying a maximum penalty of seven years’ imprisonment.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a licensing fee of VND 1,000,000 to finalize the issuance of securities practising certificates. Payment can be made via bank transfer or directly at the Commission, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Failure to collect the certificate within one year of the fee notice will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-30•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore will renew its loan commitment to the International Monetary Fund's New Arrangements to Borrow, extending the facility until 31 December 2030 for up to Special Drawing Rights 1,297.1 million (USD 1,762.8 million). This contingent loan serves as a backstop for the IMF, activated only if other resources are depleted, and does not impact Singapore's budget or Official Foreign Reserves. Singapore has participated in the NAB since 1998.
Policy & regulationCooperationLiquidity risk
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2025-06-30•Serbia•National Bank of Serbia
The National Bank of Serbia reported stronger industrial and export performance in May 2025, with industrial production up 4.4% year on year, driven by manufacturing growth of 7.0%. Retail trade turnover increased by 5.6% in May, while tourism indicators weakened. Goods exports rose by 17.3% year on year, contrasting with a 6.8% increase in imports.
Data & statisticsEconomic data and developmentsBalance of payments and other external statistics
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2025-06-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported a seasonal increase in housing lending for May 2025, with banks issuing EUR 219 million in housing loans, a 23% rise from the previous year. The growth is attributed to a recovery in real estate activity, declining Euribor, and a lower average housing loan interest margin. Loans now finance around 50% of housing transactions, up from the typical 40%, ahead of a VAT increase in July 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) reported BRL 385.7 million in fines for Q1 2025, with 10 Administrative Sanctioning Proceedings judged, resulting in 12 sanctions and eight acquittals. Seven proceedings were settled, and 865 cases are ongoing. The CVM issued 46 warnings, two stop orders, and referred 19 cases to prosecutors for potential criminal activity.
EnforcementEnforcement statistics
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2025-06-30•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission received an unmodified audit opinion from the Commission on Audit for its 2024 financial statements, marking its seventh in a decade. The audit confirmed the financial statements accurately reflect its position and performance per International Public Sector Accounting Standards. The Insurance Commissioner attributed this to the Commission's commitment to transparency, accountability, and fiscal prudence.
Institutional developmentOtherAuditing
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2025-06-30•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission has lifted the cease and desist order against Philippines International Life Insurance Company Inc. and released the insurer from conservatorship, effective 10 June 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-06-30•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission announced that former CIMB Investment Bank associate director Ruwan Amaresh Shaun Ponniah was sentenced to two years’ imprisonment and a MYR1 million fine for securities fraud involving MYR201,000. He also received a concurrent two-year sentence for unlicensed fund management. Ponniah pleaded guilty under the Capital Markets and Services Act 2007, with the offences occurring between October 2018 and June 2020.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-30•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia released a consultation paper proposing enhancements to the regulatory framework for Digital Asset Exchanges (DAXs) to boost competitiveness and strengthen investor protection. Key proposals include liberalising digital asset listings, enhancing client asset safeguarding and governance, and imposing stricter financial criteria for DAX operators. The SC highlighted a significant increase in trading value in 2024, indicating growing interest from capital market intermediaries and institutional investors.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-06-30•Albania•Albania Financial Services Authority
The Albania Financial Services Authority’s Board approved a new private pension fund, "Master Pension Fund," and licensed a public, open-ended investment fund, "Credins Dynamic," both managed by Credins Invest. Additionally, the Board endorsed internal IT security policies, reappointed the administrator and Supervisory Council members of Albsig Jete, and approved insurance agent activities.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the IMF Special Data Dissemination Standard disclosure detailing Malaysia's international reserves and foreign currency liquidity as of end-May 2025. Official reserve assets totaled USD119,598.3 million, with other foreign currency assets at USD955.2 million. Pre-determined short-term outflows over the next 12 months are USD13,431.9 million, with net short forward positions at USD24,188.9 million, excluding projected inflows from interest income and project-loan drawdowns.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Switzerland•Swiss National Bank
The Swiss National Bank has extended Project Helvetia, continuing the provision of wholesale central bank digital currency (CBDC) on the SIX Digital Exchange until mid-2027. The project will also expand to include settlement of tokenised assets using traditional central bank money via a real-time gross settlement link. This extension does not imply a commitment to permanently introduce wholesale CBDC.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-06-30•Montenegro•Central Bank of Montenegro
Central Bank of Montenegro Governor Irena Radovic attended the BIS Annual General Meeting, addressing global economic challenges like trade tensions and policy calibration. Key topics included financial system digitisation, AI challenges, and market resilience. Radovic emphasized payments interoperability, highlighting Montenegro's initiative to launch a national instant payments platform with support from Banca d’Italia and the European Central Bank.
Policy & regulationImplementation, projects & pilotsCross-border paymentsArtificial intelligence
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Bravo Zulo Romeo Lending Corporation for operating an unauthorized lending business. The order followed complaints of abusive collection practices linked to its online platform, Magic Peso. The firm violated SEC Memorandum Circular No. 19, Series of 2019, by failing to disclose its online lending activities.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Magic Peso for operating an unregistered online lending platform and engaging in unfair debt collection practices. The SEC's action, dated June 24, mandates Magic Peso and its affiliates to halt all lending activities, citing violations of SEC Memorandum Circulars No. 19, Series of 2019, and No. 10, Series of 2021.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission launched its 2025 Sustainability Week with a programme on sustainable finance, focusing on the Philippine Sustainable Finance Taxonomy Guidelines. Co-organised with international bodies, the event featured contributions from Bangko Sentral ng Pilipinas and other financial institutions. A session with the United Nations Development Programme addressed sustainable investments for non-bank financial institutions, highlighting a capacity assessment and exploring investment opportunities in nature-based solutions.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-30•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority invites foreign reinsurers and brokers to apply for accreditation renewal for 2026, with current accreditations expiring on 31 December 2025. Renewal submissions require a signed application, financial documents, compliance confirmation, and payment of accreditation fees of USD 7,500 for brokers and USD 12,500 for companies. The Authority emphasized adherence to timelines for timely processing.
SupervisionAuthorisations & approvals
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2025-06-30•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority (IRA) has invited insurance fraud investigators to apply for renewal of their accreditation for 2026, as current accreditations expire on 31 December 2025. Applications require a signed IRA form, an active Uganda Police licence, 2024 audited financial statements, a business matrix with the Ugandan insurance industry, and proof of payment of a UGX 1,000,000 fee.
SupervisionAuthorisations & approvals
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2025-06-30•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has advised holders of Chaoprayamahanakorn Public Company Limited’s CMC257A bond to review all information and exercise their rights before the bondholders’ meeting on 4 July 2025. The agenda includes extending the bond’s maturity, adjusting repayment terms, and increasing the interest rate. The SEC mandates the bondholders’ representative to evaluate the implications of the proposed amendments.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-30•Global•ISDA
The International Swaps and Derivatives Association (ISDA) confirmed the enforceability of close-out netting under Saudi Central Bank (SAMA) regulations, enhancing legal certainty for derivatives trading with SAMA-supervised entities. The regulations, based on ISDA’s 2018 Model Netting Act, apply to banks and non-bank financial institutions, with ISDA planning to extend netting opinions to future Saudi Capital Market Authority regulations.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-06-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's Q2 2025 Economic Report highlights accelerated real GDP growth to 4.23% and eased headline inflation to 22.22% in June 2025, with moderate monetary expansion and improved external reserves at USD 37.81 billion. The oil sector rebounded sharply, contributing to a 15.02% rise in gross Federation Account receipts, while total public debt reached NGN 149,389.00 billion. The report anticipates slower global growth and further disinflation, with domestic risks including security concerns and foreign exchange pressures.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-06-30•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Royal Canadian Mounted Police's Integrated Money Laundering Investigative Team charged two individuals and one company with 29 counts of money laundering and fraud, involving over $40 million moved from the UAE to Canada. The investigation, supported by the Financial Transactions and Reports Analysis Centre of Canada, alleges the use of shell companies and third-party accounts to evade reporting requirements. Kevin Sarrafi faces 27 charges and will appear in court, while Saba Sarrafi and Canex Forex Ltd. face 29 charges, with a Canada-wide warrant issued for Saba Sarrafi.
EnforcementInvestigations & enforcement actionsAML and CFTFraud and scams
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2025-06-30•Europe•European Payments Council
The European Payments Council released version 4.0 of the Single Euro Payments Area Request-to-Pay Implementation Guidelines, detailing ISO 20022 XML message standards under the updated SEPA Request-to-Pay scheme rulebook. The guidelines include three documents covering message flows across various RTP Service Provider spaces, with changes from version 3.0 summarized in Section 4. The SEPA XML Schema Definitions are available, and the SRTP inter-PSP API specifications will be published soon.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-06-30•Hungary•National Bank of Hungary
The National Bank of Hungary's June Financial and Economic Review covers China's stakeholder capitalism, geoeconomic fragmentation in the Western Balkans, and AI in banking. It highlights China's economic transformation, regional trade patterns in the Balkans, and regulatory challenges in AI. Additional essays discuss gold investments, humanoid robots in banking, and the importance of accurate bank account classification.
ResearchClimate risk and sustainable finance
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2025-06-30•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Working Paper no. 99, "A Hedonic Housing Model for Macroprudential Policy," analyzes residential real estate data to develop a hedonic model for Iceland's multi-dwelling sales market, revealing an 8.8% quality difference between sold and rented apartments and a 3.7% accumulated bias in a CPI-deflated non-quality adjusted index over 2007–2024. The study identifies a time-varying new house premium and differing short-run dynamics in the hedonic price-to-building cost ratio.
ResearchMacroprudential policy and tools
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2025-06-30•Russia•Central Bank of Russia
The Central Bank of Russia released an interim report on the digital ruble pilot, highlighting early testing results and future development priorities. The pilot involved over 150 localities, with 2,500 wallets opened and 100,000 transactions completed, focusing on customer experience and security. The report also discusses consultations on the digital ruble's economic model and plans for expanded functionality, including e-commerce payments and support for businesses.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-06-30•United Kingdom•HM Treasury
HM Treasury will publish draft legislation for a new "targeted support" regime to enhance consumer confidence and decision-making in pensions. Concurrently, the Financial Conduct Authority (FCA) released draft rules to enable firms to better support consumers in investing and managing pensions. The initiative includes reviewing the regulatory boundary between financial advice and guidance as part of the government's workplace pension roadmap.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-06-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority revised its consumer finance framework, raising maximum upfront cash financing to EGP 50,000 from EGP 10,000, contingent on a creditworthiness assessment. New conditions include restrictions on repeat financing, mandatory digital data capture, and electronic payment methods for disbursements and instalments above specified thresholds. Consumer finance companies must secure prior approval from the authority to offer this product, ensuring compliance with updated requirements.
Policy & regulationRules & requirementsBNPL
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2025-06-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved the establishment of Bakra Real Estate Investment Fund and Bakra Investment Fund for Metals. It also granted new licenses or activity extensions to Tilda Securities Trading, Trend Holding for Financial Investments, and TrueFinance Financial Leasing. The committee's mandate includes incorporation, licensing, and supervisory approvals for non-banking financial services firms.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-30•Moldova•National Commission for Financial Markets
Moldova's Parliament adopted the National Capital Market Development Strategy 2025-2030, announced by the National Commission for Financial Markets. Developed by CNPF and promoted by the Ministry of Finance, the strategy focuses on expanding financing access, broadening the investor base, supporting SMEs, modernizing infrastructure, and aligning with EU standards. CNPF will oversee implementation and report progress semiannually and annually.
Policy & regulationReform agendas & prioritiesMarket development
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2025-06-30•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Market Participants Division released FAQs to guide prospective futures commission merchants (FCMs) on registration and regulatory obligations. The document addresses the registration process, customer protections, governance, and other requirements, emphasizing the substantial resources needed to operate as an FCM.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-06-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway mandates that from 1 July 2025, firms report serious ICT-related incidents and significant cyber threats via Altinn forms KRT-3190 and KRT-3191, respectively, under the Digital Operational Resilience Act. Reporting is a staged process, allowing amendments to previously submitted data, and is restricted to organisations. A contingency Excel template is available if issues arise with Altinn.
Policy & regulationGuidance & interpretationCyber resilienceRegulatory reporting
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2025-06-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has issued new guidance under the Digital Operational Resilience Act (DORA) for incident reporting and ICT service agreement notifications, effective 1 July 2025. Firms under DORA will be excluded from Norway's ICT regulation, now applying to financing, debt collection, and real estate companies. Revised Altinn forms and updated notification regulations reflect these changes, with specific guides for incident reporting and form completion.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-06-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam, led by Deputy Governor Nguyen Ngoc Canh, attended the 10th Annual Meeting of the AIIB Board of Governors in Beijing, focusing on green transition finance and private capital mobilisation. The delegation held bilateral discussions with AIIB and Chinese banking counterparts on bond investments and modern cross-border payment solutions. AIIB announced its next annual meeting will be in Doha, Qatar, in September 2026.
Policy & regulationCooperationOther
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2025-06-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's delegation, led by Deputy Governor Pham Thanh Ha, attended the 95th Annual General Meeting of the Bank for International Settlements in Basel, engaging in policy discussions and bilateral meetings. Key topics included global economic risks, financial digitalisation, and central bank challenges. They also met with the Central Bank of Brazil and the Reserve Bank of Australia to discuss organisational structures and regional cooperation.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-06-30•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) announced the appointment of four new board members: Chris Elgar, Lisa Dorian, Tina Meadows, and Lyle Viereck, effective June 30. The authority expressed gratitude to departing members Dr. Stanley Hamilton, Wilma van Norden, Gerald Matier, and Jo-Ann Hannah for their service.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-30•Zimbabwe•Securities & Exchange Commission of Zimbabwe
The Securities and Exchange Commission of Zimbabwe announced its 7th Annual General Meeting, detailing ordinary business and corporate reports for adoption, including the external audit report. Key agenda items include confirming previous meeting minutes, reviewing various operational and financial reports, and deciding on audit fees and auditor reappointment.
Institutional developmentGovernanceAuditing
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2025-06-30•United States•U.S. Securities & Exchange Commission
Dave A. Sanchez, Director of the SEC’s Office of Municipal Securities, discussed investor protection and market transparency in the municipal securities market. He emphasized correct terminology, urging municipal entities to ensure advisors are SEC-registered, and advocated for voluntary interim disclosures with cautionary language to address liability concerns.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-06-30•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective for Spring 2025, highlighting key risks and supervisory themes for the federal banking system. The OCC notes heightened economic uncertainty due to geopolitical risks, sustained higher interest rates, and shifts in consumer sentiment, with credit, market, operational, and compliance risks as primary concerns. The report underscores the need for robust interest rate risk analysis and highlights elevated operational and compliance risks amid evolving cyber threats and fraud.
SupervisionRisk monitoring & watch pointsCredit riskMarket risk and volatilityOperational risk and resilience
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2025-06-30•Malta•Malta Financial Services Authority
The Malta Financial Services Authority released research indicating limited knowledge and uptake of sustainable finance in Malta, despite growing interest. Over 70% of respondents were aware of sustainable finance, but only 58% could accurately describe it, and just a quarter had recently purchased sustainable products. The MFSA urged financial service providers to enhance transparency and align products with consumer knowledge levels.
ResearchClimate risk and sustainable finance
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2025-06-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for May 2025, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-06-30•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced the first placement of a Financial Trust under its new regime for Financial Trusts with Automatic Authorisation for Frequent Issuances, as per General Resolution No. 1063. This resolution introduces two approval tracks for fiduciary securities, allowing exemptions from certain obligations to simplify and expedite issuance processes.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-30•Argentina•Argentina Securities Commission (CNV)
At the Rankia Institutional Experience 2025, Argentina Securities Commission (CNV) president Roberto E. Silva outlined the regulator's agenda for capital market normalization and transparency. Key initiatives include implementing Law No. 27.739 to enhance anti-money laundering and virtual asset service provider regulations, expanding "idóneos" examinations, and launching an audiovisual financial education series.
Policy & regulationRules & requirementsAML and CFTSupervision process and methodologies
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2025-06-30•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde published an Excel file detailing the main aggregated financial, prudential, and financial stability indicators of the Cape Verdean banking system, including balance sheet and income statement data as of December 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-30•Nepal•Central Bank of Nepal
The Central Bank of Nepal's Governor, Dr. Bishwanath Paudel, attended the 94th Annual General Meeting of the Bank for International Settlements, discussing cross-border payments, AI in central banking, and regulatory competitiveness. Meetings with BIS leadership and counterparts from the Reserve Bank of India and the People’s Bank of China focused on enhancing bilateral cooperation, payment systems, and foreign exchange reserve management.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-06-30•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance, led by Minister Mohamed bin Hadi Al Hussaini and the Central Bank, participated in the 2025 Spring Meetings of the IMF and World Bank in Washington, D.C. Discussions focused on global economic priorities, fiscal and monetary policy, and financial resilience. The delegation attended high-level meetings and hosted a panel for Emirati students on employment in international financial organizations.
Policy & regulationCooperationMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-06-30•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance launched the "UAE Global Cadres" initiative to enhance awareness of international training and career opportunities for Emirati professionals and students. Targeting Emiratis in the UAE and abroad, the program will include workshops and sessions to build networks and gain exposure to best practices. It will be implemented with international financial institutions, leveraging the UAE's memberships in organizations like the World Bank Group and the Arab Monetary Fund.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-06-30•South Korea•Bank of Korea
The Bank of Korea's May 2025 interest rate statistics reveal a decline in average rates for new deposits and loans. New deposit rates fell to 2.63%, an 8 basis point decrease, while new loan rates dropped to 4.17%, a 2 basis point decrease. Rates on outstanding balances also decreased, with deposit rates at 2.23% and loan rates at 4.42%.
Data & statisticsMonetary data
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2025-06-30•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has authorized registered intermediaries to utilize the National Payments Corporation of India's e-KYC Setu System for Aadhaar-based e-KYC authentication. This provides an alternative mechanism for digital Know Your Client verification in the securities market, complementing existing services by the Unique Identification Authority of India.
Policy & regulationRules & requirementsKYC
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a Q1 2025 current account deficit of USD 1,020.50m, representing 25.8% of GDP, driven by a significant goods trade deficit. Imports rose 23.1% while exports fell 13.3%, contributing to the wider deficit. Gross external debt increased to USD 10,517.15m, with public debt accounting for 41.3% of the total.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a Q1 2025 current account deficit of USD 1,020.50 million, a capital account surplus of USD 12.74 million, and net financial account inflows of USD 901.07 million. The current account deficit was 2.3 times higher than Q1 2024, with a deficit-to-GDP ratio of -25.8 per cent. Gross external debt increased by 3.0 per cent to USD 10,517.15 million, representing 57.4 per cent of GDP.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported on the liquidation progress of Banca de Economii S.A., BC “BANCA SOCIALĂ” S.A., and B.C. “UNIBANK” S.A., noting cash collections of MDL 2.99bn since 2015. In Q2 2025, cash inflows were MDL 3.4m, with asset sales totaling MDL 46.1m. Outstanding state-guaranteed emergency loans remain at MDL 11.25bn, with no repayments in Q2 2025, while ongoing recovery efforts include 35 court actions and 65 criminal cases.
SupervisionInterventionsRecovery and resolution
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova is drafting a new law to enhance securities settlement and central securities depositories, replacing Law No. 234/2016. This initiative aims to fully transpose Regulation (EU) No 909/2014, aligning Moldova's post-trade infrastructure with international standards to improve safety and efficiency.
Policy & regulationRules & requirementsMarket infrastructure
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a 3.0% increase in Moldova’s gross external debt in Q1 2025, reaching USD 10,517.15 million, or 57.4% of GDP. Public external debt rose by 0.8% to USD 4,343.26 million, while private external debt increased by 4.6% to USD 6,173.89 million.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova announced its 2025 expenditure budget and investment allocations, with operating expenses set at MDL 657.333 million and investment spending at MDL 177.907 million. The Supervisory Board approved these under Decision No. 39 of 16 December 2024, with corrections under Decision No. 41 of 05 December 2025. The investment includes MDL 87.595 million for new multiannual projects, with MDL 62.728 million payable.
Institutional developmentGovernanceProcurement
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a Q1 2025 current account deficit of USD 1,020.50 million, a capital account surplus of USD 12.74 million, and net financial account inflows of USD 901.07 million. The current account deficit was 2.3 times larger than Q1 2024, with a deficit-to-GDP ratio of -25.8%. The capital account surplus decreased by 21.9% year on year, while financial account net inflows were due to a decline in residents’ external financial assets and an increase in liabilities to non-residents.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a provisional first-quarter 2025 international investment position with a net liability of -USD 6,037.33 million, an 8.0% increase from end-2024. The investment position-to-GDP ratio rose to 33.0%, while external financial assets decreased by 0.7% to USD 8,169.69 million and external liabilities increased by 2.8% to USD 14,207.02 million. These figures are detailed in Statistical Bulletin No. 2/2025 and available in the Bank's interactive tables.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova released its audited standalone and consolidated financial statements for 2024, confirming compliance with International Financial Reporting Standards. The auditor affirmed the financial statements accurately reflect the bank's and group's financial position and performance, consistent with the 2024 Annual Report under Law No. 287/2017.
Data & statisticsActivity and performance reporting
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2025-06-30•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury amended the Value Added Tax Act 1996 and Regulations 1996 to increase penalties for late VAT payments and allow deadline extensions for final VAT returns upon business de-registration. From 31 July 2025, penalties include 3% of unpaid VAT if not paid within 15 days, an additional 3% at 30 days, and 10% for amounts unpaid after 30 days. These changes align Isle of Man VAT rules with the United Kingdom under the Customs and Excise Agreement 1979.
Policy & regulationRules & requirementsOther
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2025-06-30•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released a report evaluating how European (re)insurers address biodiversity-related risks, finding current practices are nascent with significant limitations in metrics and modelling. Biodiversity is often considered qualitatively and primarily through a reputational lens, with challenges in distinguishing it from climate-related risks. EIOPA plans further stakeholder engagement to enhance data, models, and risk-based measures, and to explore biodiversity-climate interactions and nature-based adaptation benefits.
SupervisionRisk monitoring & watch pointsNature-related risk
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2025-06-30•Europe•Single Resolution Board
The Single Resolution Board's 2024 Annual Report outlines the SRM Vision 2028 strategy, focusing on testing banks' resolvability and operationalizing resolution strategies. It highlights collaboration with National Resolution Authorities on crisis readiness and notes that the Single Resolution Fund did not raise contributions in 2024 after reaching its target. The report will be presented to the European Parliament’s Economic and Monetary Affairs Committee in July.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-06-30•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas' May 2025 report shows moderated domestic growth from slowed tourism and flat inflation. Banking liquidity improved with more deposits, but external reserves fell due to higher net foreign currency outflows. The Bank will maintain an accommodative stance on private sector credit while monitoring foreign exchange to support reserves and stability.
Data & statisticsEconomic data and developments
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2025-06-30•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank (ECCB) released its 2024-2025 Annual Report, highlighting achievements in monetary stability, financial inclusion, and governance of Citizenship by Investment Programmes. The ECCB reported a record net profit of EC$126.2 million and growth in foreign reserves. Key initiatives include the Banking Amendment Bill (2024) for market conduct regulation and the establishment of the Eastern Caribbean Financial Standards Board as an integrated regulator for the non-bank financial sector.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskFinancial inclusion
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2025-06-29•Israel•Bank of Israel
The Bank of Israel's Composite State of the Economy Index rose by 0.11% in May, reflecting slower growth than the long-term average, with increases in goods exports and job vacancies offset by declines in imports and services. The Bank also revised previous months' data, adjusting April to -0.16%, March to 0.15%, February to 0.02%, January to 0.10%, and December to 0.82%.
Data & statisticsEconomic data and developments
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2025-06-29•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) reported early usage of the eMPF Platform, processing nearly 600,000 administrative instructions since its June 2024 launch, with 80% submitted electronically. Key features include digital management of MPF tasks, a notification function for employer contributions, and a consolidated dashboard for MPF holdings. Trustees will temporarily suspend certain administrative processes during onboarding, with service suspensions typically scheduled on public holidays or weekends.
Policy & regulationImplementation, projects & pilotsOther
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2025-06-29•Laos•Bank of the Lao
The Bank of the Lao PDR participated in the 2025 Youth Festival, showcasing its work on banking-sector rules and foreign exchange market information. The exhibition included materials on banking laws, banknote management, and foreign currency exchange, with interactive Q&A sessions.
Financial literacy & educationOther
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2025-06-29•Global•Bank for International Settlements
The BIS Annual Economic Report 2025 warns that trade tensions and policy uncertainty weaken growth prospects and increase inflation risks. It urges policymakers to stabilize economies through price stability and structural reforms. The report highlights vulnerabilities like economic fragmentation, high public debt, and rapid international transmission of financial conditions, calling for stringent regulation of financial stability risks.
ResearchEconomic data and developmentsFinancial stability and systemic risk
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2025-06-29•Qatar•Qatar Central Bank
Qatar Central Bank announced that Himyan cardholders can now use Apple Pay, enabling iPhones to function as Himyan cards for secure and private payments.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-29•Mexico•CONDUSEF
Mexico's CONDUSEF reported 3,760 complaints in Veracruz from January to May 2025, an 8.5% increase from 2024. Debit cards, credit cards, and personal loans were the most complained-about products, with threats in debt collection and unrecognised transactions as leading causes. Multiple banking accounted for 59.4% of complaints, with significant issues involving older adults and potential fraud.
Data & statisticsComplaints and dispute resolution
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2025-06-29•Hungary•National Bank of Hungary
At the Bank for International Settlements conference, Hungary's Governor Mihály Varga highlighted geopolitical and trade tensions as threats to the European and global economic outlook, potentially reigniting inflation in Hungary. He emphasized international monetary policy cooperation and projected Hungary's GDP growth to improve, with inflation returning to the 3% target by 2027. Varga also discussed enhancing cooperation with Azerbaijan's central bank on knowledge sharing and financial digitalization.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2025-06-28•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported a 9.6% year-on-year increase in private sector liquidity in May, reaching PEN 511,372 million. Sol-denominated liquidity rose 11.0% year on year to PEN 366,511 million. Currency in circulation grew 14.6%, while savings and demand deposits increased 19.1% and 12.0%, respectively, with time and CTS deposits declining.
Data & statisticsMonetary data
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2025-06-28•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Legal Department's Party Cell reviewed past achievements and outlined the 2025–2027 work programme at its 21st congress. Key topics included the Legal Department's advisory role in monetary and banking law, amendments to the Law on Credit Institutions, and internal reforms. The National Assembly has adopted these amendments, with the Government set to guide implementation, and the new programme will incorporate Resolution 66-NQ/TW on lawmaking renewal.
Institutional developmentLeadership change & appointmentsOther
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2025-06-27•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has updated its Questions and Answers on several regulations, including the Prospectus Regulation concerning historical financial information, the Markets in Crypto-Assets Regulation regarding custody agreements and commingling of crypto-assets, and the Undertakings for Collective Investment in Transferable Securities Directive on cross-border marketing notification letters.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-06-27•Europe•European Securities and Markets Authority
The European Supervisory Authorities, including the European Securities and Markets Authority, have initiated a public consultation on draft Joint Guidelines for ESG stress testing as mandated by the Capital Requirements Directive and Solvency II Directive. The guidelines aim to harmonize ESG risk integration in supervisory stress tests across the EU, detailing methodologies, standards, and governance arrangements. The framework emphasizes proportionality and supports future methodological and data enhancements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-06-27•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DSP-155, detailing fees for low-value payment systems managed by Banco de la República.
Policy & regulationRules & requirementsPayments and payment systems
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2025-06-27•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority suspended trading in Agfa-Gevaert's financial instruments on Euronext Brussels at the company's request from 27 June 2025 at 13:30 CET. The suspension will remain until a press release is issued.
SupervisionInterventionsTrading
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2025-06-27•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the reopening of trading for Agfa-Gevaert financial instruments on Euronext Brussels under Article 78 of the Law of 21 November 2017. Trading will resume on 27 June 2025 at 14:30 CET.
SupervisionAuthorisations & approvalsTrading
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2025-06-27•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported a net external position of EUR 30 billion for Q1 2025, with declines in both external financial assets and liabilities. External assets fell by EUR 29.5 billion to EUR 12,838 billion, while liabilities decreased to EUR 12,809 billion. Direct and portfolio investments were impacted by negative price and exchange rate effects, with notable decreases in foreign securities holdings and increases in Luxembourg securities held abroad.
Data & statisticsBalance of payments and other external statistics
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2025-06-27•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Fundo Eaglestone Infrapower I Angola, a closed-end venture capital fund by Eaglestone Capital. The fund aims to invest in companies in Angola focusing on infrastructure, energy, environment, and transport sectors.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Standard Valor, an open-ended special securities investment fund offered by public subscription. Promoted by Standard Gestão de Activos, the fund aims to provide access to a diversified portfolio through active management and strategic asset allocation.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has initiated a market consultation to simplify the listing process for investment funds in Italy and align national rules with EU standards. Key proposals include removing the requirement for a specific listing document for European UCITS and open-ended reserved AIFs managed by EU companies, and amending the regulatory template for prospectus information.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-27•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia reported a significant increase in virtual asset activity, with transaction volumes rising from USD 46.5 million in early 2024 to USD 294 million in early 2025. Financial system data indicates a 12-fold increase in virtual asset transactions since July 2024, totaling BOB 611 million by May 2025. The bank highlighted ongoing educational efforts and the government's Supreme Decree No. 5384, establishing a regulatory framework for fintech companies and virtual assets.
Data & statisticsFintech and insurtechSupervision process and methodologies
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2025-06-27•Botswana•Bank of Botswana
The Bank of Botswana has granted credit bureau licences under the Credit Information Act, 2021 to Transunion Proprietary Limited, Micro-Finance Credit Bureau Proprietary Limited, and Credbase Credit Bureau. These licences allow the bureaux to manage consumer credit information, develop credit rating systems, and conduct market research, ensuring compliance with the Credit Information Act, 2021 and the Data Protection Act, 2024. Operating without a licence is a criminal offence, and individuals can access and correct their credit information.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Botswana•Bank of Botswana
The Bank of Botswana clarified that commercial banks did not breach regulations by raising prime lending rates (PLRs) in 2025, as PLR setting was liberalized in April 2023. The Bank emphasized that PLR increases should reflect competitiveness and reasonableness, warning against excessive rises that could undermine its accommodative monetary policy. It also announced measures to address liquidity constraints, including extending repurchase agreement tenors to one month.
Monetary policyMonetary policy instruments & operationsMonetary policy decisions and developments
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2025-06-27•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance has instructed microfinance services coordinators to enhance monitoring and enforcement of the microfinance policy and legal framework. This directive follows a capacity-building programme aimed at improving coordinators' supervisory capabilities and legal compliance. Coordinators are required to submit quarterly implementation reports and collaborate with various local officers.
SupervisionSupervision approach, priorities & toolkitFinancial inclusion
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2025-06-27•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved amendments to regulatory acts affecting collective investment activities and personal data protection. It issued decisions including a ban on transactions for PrJSC Universam Kyiv and registered share issues for several entities. Additionally, the Commission made supervisory amendments and approved key appointments across market participants.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-27•Peru•Central Bank of Peru
The Central Bank of Peru reported a 5.9% year-on-year increase in mortgage credit for home purchases in May, reaching PEN 72,102 million, driven by stronger domestic currency lending. Soles-denominated mortgage credit rose 6.9% year on year, while US dollar mortgages remained at 6.7% of total mortgage credit, reflecting reduced household exposure to exchange-rate risks.
Data & statisticsLending
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2025-06-27•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia attended a meeting with commercial banks, organized by the Georgian Bankers’ Association, to discuss banking-sector issues such as access to finance, regulatory developments, and strategic priorities. Key topics included open banking regulations, banking competition, and the Law on Payment System and Payment Services, with a focus on consumer rights protection.
Policy & regulationCooperationDomestic cooperation
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2025-06-27•United States•National Credit Union Administration
The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration, with Financial Crimes Enforcement Network's concurrence, exempt banks and credit unions from obtaining a taxpayer identification number (TIN) directly from customers before account opening. This allows third-party methods for TINs, offering flexibility due to evolving consumer access and data breach concerns. The Customer Identification Program rule remains unchanged, requiring risk-based procedures to verify identities.
Policy & regulationGuidance & interpretationKYC
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2025-06-27•China•Central Bank of the Republic of China
The People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission have released the Green Finance Supported Projects Catalogue (2025 edition), updating China's green finance taxonomy. This catalogue aims to enhance market liquidity and reduce identification costs by standardizing eligible projects across green finance products, excluding stock listings and equity issuance on major Chinese exchanges. Transition rules allow certain legacy standards to persist, with issuers encouraged to align disclosures with the new catalogue, effective 1 October 2025.
Policy & regulationRules & requirementsGreen taxonomy
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2025-06-27•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance released a report proposing measures to boost capital market development and facilitate IPOs for state and municipal companies. The report highlights strong growth in bond issuance and rising retail participation in savings bonds but notes limited IPO plans for state-owned enterprises. Proposed reforms include engaging in EU discussions on an Investment and Savings Union, revising tax rules, and considering a Real Estate Investment Trust (REIT) regime.
Policy & regulationReform agendas & prioritiesMarket development
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2025-06-27•Australia•Australian Securities & Investments Commission
ASIC's Report 810 reviews the small business restructuring process from 2022 to 2024, noting a rise to 3,388 appointments from 82 previously. The process aids distressed small companies, with no misuse evidence. Construction and Accommodation and Food Services sectors made up 50% of appointments. ASIC will keep monitoring the regime.
SupervisionReviews, inspections & stress testsOther