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2025-06-25•Europe•European Council
The European Council and European Parliament have agreed on a reformed EU crisis management and deposit insurance framework for banks, enhancing resolution usability for small and medium-sized banks. It allows access to industry-funded financing tools alongside a bank's own loss-absorption resources, with deposit guarantee schemes and resolution funds bridging gaps when a bank lacks sufficient own funds and eligible liabilities. The reform amends key directives and regulations, retaining depositor preference and introducing a harmonised "least cost test" for using deposit guarantee scheme resources.
Policy & regulationRules & requirementsRecovery and resolution
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2025-06-25•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Association of Banks in Singapore have established the Singapore Payments Network (SPaN) to oversee national payment schemes under a single entity. SPaN, a not-for-profit company, aims to enhance governance, foster payments innovation, and promote industry collaboration. An 11-member board will guide SPaN to operational readiness by end-2026, with plans to onboard additional participants and transition existing schemes.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-25•Malaysia•Malaysia Securities Commission
The Advisory Committee on Sustainability Reporting, led by the Securities Commission Malaysia, released a consultation paper on a proposed sustainability assurance framework, including external assurance requirements under the National Sustainability Reporting Framework. The proposals cover international standards adoption, oversight for assurance providers, competency requirements for assurance leaders, and timelines for implementation, aiming to combat greenwashing and bolster investor confidence.
Policy & regulationRules & requirementsAccounting and financial reportingDisclosures
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2025-06-25•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and the Azerbaijan Banks Association hosted Fintech Summit 2025 in Baku, focusing on digital currencies, modern banking products, cybersecurity, and fintech trends. Deputy Chairman Vusal Khalilov emphasized the central bank's initiatives in digital financial ecosystem development and cross-sector cooperation. The summit featured panel discussions on digital transformation, AI, innovation impacts, regulatory roles, and cybersecurity legal frameworks.
OtherFintech and insurtech
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2025-06-25•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile public reception in Mingachevir to enhance consumer and investor rights protection. The event will address requests from residents of Mingachevir and surrounding districts, with submissions accepted through the Central Bank’s hotline and WhatsApp channel.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-06-25•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has revised the rules for secondary trading of Letras de Regulación Monetaria. Any resident individual or legal entity can now buy the instruments in the secondary market from banks and finance companies that acquired them at primary issuance. The central bank also removed a minimum daily holding requirement for certain indirect participants to widen market participation and support yield curve formation.
Policy & regulationRules & requirementsTrading
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2025-06-25•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission released a feedback paper on its consultation regarding equity release and published a final version of the Lending, Credit and Finance Rules and Guidance with amendments. The Commission will start accepting licensing applications for equity release products from 1 January 2026, coinciding with the enactment of related legal amendments.
Policy & regulationRules & requirementsLicence approval
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2025-06-25•Canada•Ontario Securities Commission
The Ontario Securities Commission will provide up to CAD 875,000 over five years to the Osgoode Hall Law School Investor Protection Clinic. This funding supports pro bono legal assistance for Ontarians with investment losses who cannot afford representation, and aids the clinic's operations, including legal advice and investor education programs.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-06-25•Canada•Ontario Securities Commission
The Ontario Securities Commission has committed up to CAD 5.4 million over three years to Prosper Canada for investor education and financial coaching services. The initiative targets Ontarians with low and moderate incomes and includes collaboration with Indigenous community partners to create tailored financial resources.
Financial literacy & educationFinancial literacy and education
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2025-06-25•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro reported on Governor Irena Radovic’s meeting with Crnogorska Komercijalna Banka (CKB) leadership, discussing strategic plans and alignment with EU regulations, including payment services digitisation. CKB aims to enhance services and support SMEs, focusing on joining SEPA and preparing for a national instant payments system using TIPS technology. The bank is noted as stable and systemically important, with ongoing cooperation with the central bank and OTP Group.
Policy & regulationCooperationSupervision process and methodologies
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2025-06-25•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has finalized its policy on fees and levies for the 2025/26 fee year, introducing a Future Banking Data fee and setting the minimum periodic fee to GBP 0 for non-directive insurers and small and medium-sized credit unions. The Total Funding Requirement is GBP 350.2 million, with an Annual Funding Requirement of GBP 336.4 million, primarily for deposit takers, general insurers, and life insurers. The PRA Fees Amendment Instrument 2025 will be effective from 2 July 2025.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-25•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges holders of 14 Energy Absolute Public Company Limited bond series to review information and exercise their rights at the rescheduled bondholders’ meeting on 27 June 2025. The agenda includes exemptions for joint vote counting, non-compliance with meeting notice terms, and a proposed seven-year maturity extension with interest rate adjustments. Bondholders’ representatives must analyze the implications of the restructuring proposal.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-25•Malta•Central Bank of Malta
The Central Bank of Malta hosted a delegation from the Republic of Kosovo, focusing on anti-money laundering and countering the financing of terrorism best practices. Presentations covered payments policy, compliance, and the Bank's collaboration with other regulatory bodies in AML/CFT and financial stability.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-06-25•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has released updated 2024 disclosures under Article 57 of the Investment Firms Directive (EU) 2019/2034. The update details Swedish laws, regulations, and guidance, national options and discretions, supervisory review criteria, and aggregated statistical data on the directive's implementation.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-06-25•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has appointed Leonard Weber Landgren as the new head of its Insurance business area, effective 15 July. He will also join the authority’s executive management team. Weber Landgren has been with the authority since 2014, most recently serving as head of the Insurance Law department.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Capital Markets Subcommittee held a hearing to assess the Sarbanes-Oxley Act's implementation, focusing on Section 404(b) auditor attestation requirements. Subcommittee Chair Ann Wagner highlighted concerns over high compliance costs for smaller firms, questioning the proportionality of benefits given persistent internal control weaknesses. The hearing aims to gather testimony on the real-world impacts of Sarbanes-Oxley compliance.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-06-25•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that Nanoquix is not registered to deal in or advise on securities in New Brunswick. Nanoquix is located in St Vincent and the Grenadines, with an online presence on various social media platforms. The Commission emphasized the importance of registration for investor protection and recommended using the National Registration Search tool for verification.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-06-25•Russia•Central Bank of Russia
The Central Bank of Russia released a consultation paper proposing revisions to its supervisory tools for assessing banks' economic situations, aiming to improve risk ranking accuracy. This approach will support dialogue with banks' senior management and inform differentiated insurance contribution rates to the Compulsory Deposit Insurance Fund. Implementation is planned for 2027–2028, following the regulatory framework development from 2025–2027.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-06-25•Russia•Central Bank of Russia
The Central Bank of Russia has proposed amendments to a draft law in the State Duma, setting phased deadlines for the adoption of digital ruble payments by banks and merchants based on size. The largest banks must enable digital ruble transactions by 1 September 2026, with further stages extending to 1 September 2028. The digital ruble will circulate alongside cash and non-cash rubles, with transactions remaining fee-free for Russian citizens.
Policy & regulationRules & requirementsCBDC
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2025-06-25•Russia•Central Bank of Russia
The Bank of Russia's latest Russian Journal of Money and Finance explores banking-sector competition's impact on monetary policy transmission, introduces a new RUONIA forecasting method, and presents a regional macroeconomic model for the Southern macroregion. The issue also examines Russian banks' market power and international applications of behavioural economics to improve financial decision-making.
Research
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2025-06-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is using digitisation and fintech regulation to improve access to non-banking financial services, focusing on electronic onboarding and digital contracting. Achievements include growth in gold investment fund accounts, capital market investors, and listed-market capitalisation. The Authority is developing regulations for digital platforms in real estate investment funds and a new close-out netting law for exchange-traded derivatives.
Policy & regulationRules & requirementsFintech and insurtechFinancial inclusion
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2025-06-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved seven entities, including five banks and two securities firms, to regularise their status for inclusion in the FRA register for secondary market dealings in government securities. This decision, under FRA Board Decision No. 232 of 2024 and FRA Chairman Decision No. 394 of 2025, allows these entities to engage in government debt instruments trading.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-25•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) consideration. Based on local economic conditions, it identifies areas where revitalization or stabilization activities may qualify as community development activities. The agencies also updated the methodology for identifying underserved tracts, consolidating urban influence code categories from 12 to 9.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•Global•International Monetary Fund
The International Monetary Fund finds that interoperability helped India’s Unified Payments Interface increase digital payment adoption, user choice and provider competition. Districts with larger interoperability gains recorded an additional INR 8 per person per month in peer-to-merchant payments during the first year after integration. Policymakers should support enabling infrastructure and monitor dominant apps to preserve an open system.
ResearchPayments and payment systemsCompetition and market structureDigital identity
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2025-06-25•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets (CNPF) identified an abusive clause in BC “COMERȚBANK” SA's floating-rate term deposit contract, allowing unilateral interest-rate changes, and will seek a court declaration of nullity. The CNPF also approved a regulation for voluntary pension fund transfers and authorised several corporate restructuring actions, including share deregistrations and capital adjustments.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-06-25•United States•Federal Reserve Board
The Federal Reserve Board, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) credit. Reflecting local economic conditions, the list allows CRA consideration for revitalization or stabilization activities for 12 months. The agencies updated the methodology for designating underserved areas, consolidating urban influence codes from 12 to 9 categories.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•Canada•Canadian Investment Regulatory Organization
The Canadian Investment Regulatory Organization (CIRO) released its annual Enforcement Report detailing last year's enforcement activities, including complaint intake, investigations, and proceedings against dealers and approved persons for rule breaches. CIRO reviewed 4,127 complaints, conducted 176 investigations with 34% referred for prosecution, completed 57 proceedings, and imposed CAD 10.3 million in fines and costs. Updates include transitioning mutual fund dealer event reporting to ComSet and launching a new E-Discovery and Evidence team.
EnforcementEnforcement statistics
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2025-06-25•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Division of Market Oversight issued a no-action letter allowing MIAX Futures Exchange, LLC to temporarily trade Minneapolis Hard Red Spring Wheat options on futures exclusively through block trades, under specified conditions. This relief enables market participants, including non-Eligible Contract Participants, to manage open positions due to the lack of an electronic trading system. The no-action position is effective from June 29 to August 29, 2025.
EnforcementInvestigations & enforcement actionsTrading
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority reviewed compliance with sustainability-related disclosure rules among investment firms and fund managers, finding widespread misunderstandings and misinterpretations. Issues include unclear disclosures, incorrect exemptions, misleading marketing practices, and confusion between sustainability risk and adverse impacts. The authority offers guidance to clarify disclosure requirements.
SupervisionReviews, inspections & stress testsDisclosures
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) published an inspection report on DNB Bank ASA, identifying ongoing weaknesses in anti-money laundering and counter-terrorist financing compliance despite improvements since 2020. Key issues include deficiencies in risk assessment, customer due diligence, transaction monitoring, and internal controls. DNB must implement an action plan and report progress. Finanstilsynet will monitor execution and has requested the bank to share the report with its auditor.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-06-25•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority reported deficiencies in Nordea Bank Abp's Norway branch regarding clarity and transparency for retail clients using its "Nora" robo-adviser. The report criticized fund recommendations, cost disclosures, and sustainability preference information. Nordea has made changes, updating website disclosures and cost statements.
SupervisionReviews, inspections & stress testsDisclosures
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on the AIIB Board of Governors' meeting in Beijing, where Zou Jiayi was elected AIIB President for 2026-2031. Her priorities include multilateralism, infrastructure finance, and regional cooperation, aiming to increase AIIB lending from USD 10 billion to USD 15 billion by 2030. The Vietnamese delegation also discussed potential investments and regional projects with AIIB leaders.
Institutional developmentLeadership change & appointmentsOther
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted the International Monetary Fund's Article IV mission, discussing macroeconomic conditions and policy recommendations amid global uncertainty. Both parties agreed to enhance cooperation through expert exchanges and technical assistance. The IMF noted Vietnam's strong growth and controlled inflation, recommending a focus on macroeconomic stability, structural reforms, and financial-system strengthening.
Policy & regulationCooperationCross-border cooperation
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported on the 2025–2030 congress of the Party cell of the Standing Agency of the Vietnam Banks Association, chaired by SBV Deputy Governor Pham Tien Dung. The congress reviewed past performance, introduced new leadership, and highlighted initiatives like establishing a Consumer Finance Club and a Debt Resolution Club. The Deputy Governor urged the new leadership to finalise regulations and engage in policy commentary, particularly on emerging banking sector issues.
Institutional developmentGovernanceLeadership change and appointments
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2025-06-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's action plan aims to reduce administrative burdens and reform inspections, cutting at least 30% of processing time and compliance costs by 2025, with further reductions later, emphasizing digital transformation. It also proposes a 2% annual interest rate subsidy for private sector financing of green and circular projects.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-25•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission’s Office of the Investor Advocate submitted a report to Congress outlining its objectives for fiscal year 2026, focusing on retail investor risks and enhancing investor information. Key priorities include research on retail disclosures, addressing financial fraud concerns, and examining private market investments in retirement accounts and China-based variable interest entities on U.S. exchanges.
Policy & regulationReform agendas & prioritiesDisclosures
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2025-06-25•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has extended the compliance date to 30 June 2026 for amendments to Rule 15c3-3, requiring certain broker-dealers to shift from weekly to daily reserve computations. This extension allows additional time for necessary system changes and testing to prevent operational challenges.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-06-25•Thailand•Bank of Thailand
The Bank of Thailand's Board approved senior management changes effective 1 October 2025, including appointing Ms Suwannee Jatsadasak as Deputy Governor for Corporate Development. Mr Somchai Lertlarpwasin will rotate to Assistant Governor, Supervision Group, while Ms Wipawin Promboon and Mr Chiranuwat Tanyacharoen will be promoted to Assistant Governor roles in their respective groups.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•Office of the Comptroller of the Currency
The Federal Deposit Insurance Corporation, Federal Reserve Board, and Office of the Comptroller of the Currency released the 2025 list of distressed or underserved nonmetropolitan middle-income geographies eligible for Community Reinvestment Act (CRA) consideration. This list, reflecting local economic conditions, allows certain bank activities in these areas to qualify as community development. The agencies also revised the methodology for designating underserved tracts, consolidating urban influence codes from 12 to nine categories.
Policy & regulationRules & requirementsFinancial inclusion
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2025-06-25•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency approved a proposed rulemaking to adjust the enhanced supplementary leverage ratio (eSLR) for the largest banking organizations, making it a backstop rather than a primary constraint. The proposal reduces the tier 1 capital requirement for subsidiaries of global systemically important bank holding companies (GSIBs) and sets the eSLR based on risk profiles, ranging from 3.5% to 4.25%. This shift supports low-risk activities and the functioning of U.S. Treasury markets without materially changing overall capital levels.
Policy & regulationRules & requirementsCapital adequacy
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2025-06-25•Argentina•Argentina Securities Commission (CNV)
At the AML 2025 Conference, Argentina Securities Commission (CNV) President Roberto E. Silva highlighted the CNV's innovative regulatory framework for virtual asset service providers. Silva emphasized balancing compliance with Law No. 27.739, avoiding overregulation, and supporting innovation. The conference included discussions on compliance, financial regulation, and emerging risks with domestic and international stakeholders.
Policy & regulationOtherAML and CFT
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2025-06-25•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
FINMA announced amendments to the sanctions list for Guatemala, updated by Switzerland’s Federal Department of Economic Affairs. Financial intermediaries must implement prohibitions, freeze assets, report to SECO, and conduct checks under the Anti-Money Laundering Act. The update is in the SESAM sanctions database and effective immediately.
Policy & regulationRules & requirementsSanctions list update
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2025-06-25•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) will adjust its Board of Directors' composition following Rene W. Keller's resignation, effective 30 June 2025. From 1 July 2025, the board will consist of eight members for the 2024–2027 term, with Marlene Amstad as Chair. The board is responsible for setting strategic objectives, deciding significant matters, issuing circulars, and appointing the CEO, subject to Federal Council approval.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•Switzerland•Federal Department of Finance (Switzerland)
Rene W. Keller will resign from the Board of Directors of the Swiss Financial Market Supervisory Authority (FINMA) effective 30 June 2025, due to a planned career change. Keller has been a board member since February 2024. The Federal Department of Finance will address his replacement later.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United States•Financial Crimes Enforcement Network
The US Financial Crimes Enforcement Network (FinCEN) has identified CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns linked to illicit opioid trafficking, prohibiting certain fund transfers. These actions, under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, complement recent US designations of major Mexico-based cartels as Foreign Terrorist Organizations. The orders prohibit covered financial institutions from transmitting funds to or from these entities, including convertible virtual currency accounts.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-25•Moldova•National Bank of Moldova
The National Bank of Moldova's Q1 2025 Financial Stability Assessment Report shows the banking sector's resilience, with no systemic vulnerabilities detected. The financial stress index and banking-sector vulnerability indicator are below critical thresholds. Credit risk, especially in real estate lending, is the main concern. Rising residential real estate prices in Chișinău and increased exposures to non-bank financial institutions are noted, but liquidity buffers are robust except in extreme scenarios.
ResearchFinancial stability and systemic riskPrudential risksLiquidity risk
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2025-06-25•Moldova•National Bank of Moldova
The National Bank of Moldova completed the second stage of the 2025 Financial Sector Assessment Program (FSAP 2025) with the International Monetary Fund and the World Bank. Conducted from April to May 2025, the diagnostic mission evaluated banking, capital markets, insurance, and non-bank lending, focusing on macrofinancial risk, crisis management, and financial inclusion. FSAP 2025 consists of three stages, with the final stage set to present findings to national authorities.
SupervisionReviews, inspections & stress testsSupervision process and methodologiesMacroprudential policy and tools
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2025-06-25•United Arab Emirates•General Pension and Social Security Authority
The General Pension and Social Security Authority’s board reviewed first-half 2025 performance, approving the 2024 final accounts and 2026 budget. Insured Emiratis rose 16% to 166,411, and registered employers increased 47.6% to 27,235. The board emphasized digital transformation, investment diversification, and initiatives like Emiratisation.
Institutional developmentGovernanceOther
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2025-06-25•United States•U.S. Department of the Treasury
The U.S. Treasury's FinCEN has designated CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns linked to opioid trafficking. These actions, under the Fentanyl Sanctions Act and FEND Off Fentanyl Act, prohibit U.S. financial institutions from transacting with these Mexico-based entities. The orders cite anti-money laundering and counter-financing of terrorism control failings and connections to Mexico-based cartels and precursor chemical procurement from China.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-25•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority released a paper analyzing how European Economic Area insurers invest in mutual funds with large outflows. The study reveals insurers act as contrarian traders, buying when others sell, helping mitigate liquidity stress in open-ended funds. It also highlights that insurers' financial health influences their ability to stabilize these funds, with better-capitalized insurers more likely to provide support.
ResearchLiquidity riskFinancial stability and systemic risk
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2025-06-25•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago's Ministry of Finance appointed Larry Howai as Governor of the Central Bank of Trinidad and Tobago, replacing Dr. Alvin Hilaire. The appointment follows a Cabinet request to the President to revoke Hilaire's appointment. Further details are expected to be released soon.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-25•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE suspended new customer onboarding in a bank's Islamic window for six months and fined it 3,502,214 AED under Article 137 of Decretal Federal Law No. (14) of 2018. This enforcement action followed Sharia supervision examinations revealing non-compliance with CBUAE instructions and Sharia governance provisions. The measures align with the CBUAE's mandate to ensure compliance with UAE laws and standards.
EnforcementSanctions & designationsCompliance
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2025-06-25•Barbados•Central Bank of Barbados
The Central Bank of Barbados released FAQs for the 3.0% Government of Barbados USD Denominated Domestic Bond 2026, detailing eligibility, subscription, settlement, and tax compliance. Subscriptions require payment from a foreign-currency account, with a minimum investment of USD 500. Interest is paid semi-annually in foreign currency, and non-residents are exempt from withholding tax upon confirmation by the Barbados Revenue Authority.
Policy & regulationGuidance & interpretationOther
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2025-06-24•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's Q1 2025 report highlights significant growth in transaction volumes and values across the country's payment systems compared to Q1 2024. Key findings include a 57.3% increase in transaction volume and an 18.4% rise in value, with electronic funds transfers and debit cards being the most utilized payment instruments. Cash circulation increased by 9.7%, while non-presential channels saw substantial growth in both value and volume.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-24•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority approved Alinma Capital's public offer of the Alinma Nomu Market Equity Fund, confirming compliance with the Capital Market Law and its Implementing Regulations. The CMA stressed that this approval is not a subscription recommendation and advised investors to review the fund's terms, strategy, and risks thoroughly.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-24•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro, in collaboration with the World Bank, conducted a workshop on enhancing financial literacy through digital communication for institutions involved in Montenegro's 2023–2027 financial education programme. The event, part of the Payment Systems Modernisation Project, focused on digital content creation, audience targeting, and campaign impact measurement, with contributions from the World Bank and Banca d’Italia.
Financial literacy & educationFinancial literacy and education
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2025-06-24•Australia•Australian Securities & Investments Commission
ASIC has updated its guidance for financial services licensees to mitigate share sale fraud risks amid rising identity theft incidents. The revised Information Sheet 237 outlines fraud methods and prevention practices, emphasizing independent verification of onboarding materials, monitoring unusual trading activities, and conducting due diligence on client detail changes. ASIC recommends using Digital ID Act 2024-accredited services and enhancing account security with multi-factor authentication.
Policy & regulationGuidance & interpretationFraud and scams
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2025-06-24•Australia•Australian Securities & Investments Commission
ASIC has released Consultation Paper 384 to regulate employee redundancy funds under the Corporations Act 2001, as ASIC’s transitional relief expires on 1 April 2026. The paper proposes three options: full compliance, targeted relief, or remaking existing relief with conditions. It also considers redefining “employee redundancy funds” and notes sector growth from AUD 500 million in 2003 to AUD 2 billion in 2015.
Policy & regulationRules & requirementsOther
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2025-06-24•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) released a guide detailing criteria and procedures for identifying beneficial owners in the insurance and pension funds sector.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-06-24•Ghana•Ghana National Insurance Commission
Dr. Abiba Zakariah, Acting Commissioner of Ghana's National Insurance Commission, urged insurers to create accessible products for all demographics, especially the informal sector, at the new Insurance House inauguration in Accra. She emphasized broader insurance inclusion for financial protection and sector resilience. The facility, a landmark project according to the Ghana Insurers Association’s President, aims to drive practical sector transformation.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-06-24•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has released a FAQ document to assist Authorised Firms and Registered Auditors in preparing for the revised Client Assets regime effective 1 January 2026. The changes aim to enhance protections for Client Money, Client Investments, and Client Crypto Tokens in the Dubai International Financial Centre. Key updates include clarifications on requirements for firms controlling but not holding Client Assets and a new mandate for certain firms to maintain a Client Asset Crisis Preparedness Pack.
Policy & regulationGuidance & interpretationClient asset custody and safekeeping
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2025-06-24•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has launched two public consultations following the review of the European Market Infrastructure Regulation (EMIR 3). The consultations focus on transparency regarding clearing service costs and margin-related disclosures and tools. They address information disclosure requirements for clearing service providers and central counterparties.
Policy & regulationRules & requirementsMarket infrastructureDisclosures
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2025-06-24•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market (NSSMC) adopted decisions on rule-making, registration, and supervision, including amendments to 2023 decisions and a draft resolution for supervisory boards of state enterprises. The NSSMC approved registration and licensing actions, such as amendments to Martin LLC’s bond placements and share issue registrations for several JSCs. It also issued investor alerts on dubious projects and refused BENEFIT BROK LLC’s financial improvement plan.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-24•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has implemented new requirements for financial statement disclosure and submission in XBRL for capital market and organised commodity market participants, effective immediately. From 2026, exclusive XBRL filing via the Collection Center will be mandatory, with submissions treated as filed with the Commission. The requirements include using the UA IFRS XBRL taxonomy and may be supplemented.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-24•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank published balance of payments statistics showing the Netherlands' current account balance at 9.9% of GDP in Q1 2025, unchanged from the previous year. Goods exports rose by EUR 8.4 billion, while imports increased by EUR 4.4 billion, resulting in a EUR 4.0 billion increase in the goods balance. DNB revised previous years' figures, adjusting the 2024 current account balance to 9.1% of GDP and the 2023 figure to 9.4%, mainly due to trade adjustments.
Data & statisticsBalance of payments and other external statistics
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2025-06-24•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) released a guide detailing criteria and procedures for identifying beneficial owners in the insurance and pension funds sector.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-06-24•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has issued a warning about increasing signals of mortgage fraud, urging financial service providers to remain vigilant and scrutinize client documentation. The AFM highlights the role of providers as gatekeepers against fraud, which includes document forgery and misrepresentation. Consequences may include termination of agreements, contract dissolution, and supervisory measures affecting licenses.
SupervisionAlertsFraud and scams
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2025-06-24•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) conducted a master class in Casablanca for journalists on compulsory "All Risks Construction" and "Decennial Civil Liability" insurance. The session aimed to outline the applicable framework, practical implementation, and foster dialogue with the Authority. ACAPS emphasized these policies as mechanisms to enhance protection in construction projects and compliance with regulations.
Financial literacy & educationOther
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2025-06-24•Georgia•National Bank of Georgia
The National Bank of Georgia and the Ministry of Finance hosted the IMF’s CCAMTAC Steering Committee meeting to review recent activities and discuss the upcoming work program. Discussions included regional workshops, financial resources, and initiatives, with contributions from IMF representatives and National Bank of Georgia officials. Key topics were fiscal risk management, banking supervision, and launching an educational platform for regional knowledge exchange.
Policy & regulationCooperationCross-border cooperation
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2025-06-24•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) and the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) held a seminar in Lahore to promote corporatization and regulatory compliance. SECP Commissioners discussed initiatives like BISP micro-insurance and digital micro-policies, emphasizing their role in protecting millions. The event included interactive sessions on the benefits of incorporation with business community members.
Policy & regulationGuidance & interpretationMarket development
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2025-06-24•China•Central Bank of the Republic of China
The People's Bank of China and national agencies issued guidance to boost consumption via financial policy, detailing 19 measures, including a CNY 500 billion relending facility for service consumption and elderly care. The guidance promotes credit support for trade-in programs, expanded funding channels, and enhanced payment services, emphasizing consumer protection and credit information sharing. The People's Bank of China will collaborate with other agencies to expedite implementation and monitor progress.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-06-24•China•Central Bank of the Republic of China
The People's Bank of China has authorized the Industrial and Commercial Bank of China (Turkey) as the renminbi clearing bank in Turkey under a Memorandum of Understanding with the Central Bank of Turkey.
Policy & regulationCooperationCross-border cooperation
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2025-06-24•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York released a case study on private investment vehicles in affordable multifamily rental housing, highlighting a planned increase in capital allocation to new developments from 7% to 24% between October 2024 and September 2026. Investment managers reported 293,735 affordable housing units in their portfolios, with significant contributions from banks and pension funds. Annual fundraising rose to USD 5.2 billion, up from USD 3.7 billion, with half of investments targeting households earning less than 60% of area median income.
ResearchOther
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2025-06-24•Norway•Department of Finance (Norway)
Norway's Ministry of Finance announced that amendments to the Financial Institutions Act and the Financial Contracts Act will take effect on 1 August 2025. These changes implement EU securitisation rules and address cross-border payments under the Euro Regulation, aligning with the EEA Agreement timeline.
Policy & regulationRules & requirementsSecuritization
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2025-06-24•Norway•Department of Finance (Norway)
Norway's Department of Finance announced regulatory changes effective mainly from 1 July 2025, including implementing the Digital Operational Resilience Act (DORA) and a new crypto-assets law aligned with the EU's Markets in Crypto-Assets Regulation (MiCA). Key measures include raising average mortgage risk weights in internal ratings-based banks from 20% to 25% and amending the Real Estate Brokerage Act to ban secret bids. Additional updates involve extending the Accountants Act, clarifying the Anti-Money Laundering Act's applicability to law firms, and introducing various tax adjustments.
Policy & regulationRules & requirementsTax transparency and information exchange
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2025-06-24•Norway•Department of Finance (Norway)
Norway's Ministry of Finance has issued regulations to implement the Digital Operational Resilience Act (DORA Act) for the financial sector, effective 1 July. Based on a draft by the Financial Supervisory Authority of Norway, these regulations ensure technical provisions align with the Act's commencement. Finanstilsynet will assess by mid-October if further regulations are needed, considering Norges Bank's proposal on responsibility division for threat-led penetration testing.
Policy & regulationRules & requirementsOperational risk and resilience
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2025-06-24•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance announced discussions between Minister Kyriakos Pierrakakis, UniCredit CEO Andrea Orcel, and Alpha Bank CEO Vassilis Psaltis regarding UniCredit's increased shareholding in Alpha Bank. The transaction is viewed as a strategically important cross-border partnership, signaling confidence in Greece's banking sector recovery and supporting European financial integration.
Policy & regulationCooperationMarket development
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2025-06-24•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance detailed Minister Kyriakos Pierrakakis's visit to the Authority for Combating Money Laundering, highlighting enforcement actions like freezing cryptocurrency linked to a major theft. The Authority reported EUR 700 million in criminal proceeds for 2024, with significant asset-freezing orders and sanctions work related to Ukraine. The ministry announced over EUR 1 million in IT investments to enhance the Authority's systems and autonomy.
EnforcementInvestigations & enforcement actionsAML and CFTSupervision process and methodologies
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2025-06-24•Laos•Bank of the Lao
The Bank of the Lao PDR hosted a courtesy visit from Lao-French Bank Limited's management, led by Regis Barriac of the BRED banking group, to discuss business operations and funding support for government-prioritized enterprises. Deputy Governor Sulisak Thamnouvong received an overview of the bank's contributions to Laos' economic infrastructure and expressed support for enhanced cooperation.
Policy & regulationCooperationOther
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2025-06-24•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released a discussion paper on the mortgage market, focusing on enhancing access to sustainable home ownership for diverse borrowers. It examines updates to responsible lending rules, consumer understanding flexibility, and innovation support, addressing changing borrower profiles and lender conduct standards. The FCA highlights collaboration with firms on affordability-check flexibility and recent consultations on easing mortgage changes.
Policy & regulationReform agendas & prioritiesLending
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2025-06-24•Belize•Central Bank of Belize
The Central Bank of Belize launched APSSS 2.0, an upgraded Automated Payments and Securities Settlement System, to modernize the National Payment System and support monetary policy and capital market development. Developed with the Government of Belize and domestic financial institutions, APSSS 2.0 aims to improve payment processing efficiency, enhance security, and adopt the SWIFT ISO 20022 messaging standard for standardized transaction data.
Policy & regulationImplementation, projects & pilotsMarket infrastructurePayments and payment systems
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2025-06-24•Finland•Bank of Finland
The Bank of Finland released its Annual Report on Responsible Investment 2024, detailing its management of investment assets and climate impact reporting. For the first time, it discloses the Bank's share of climate indicators from the Eurosystem’s monetary policy programmes. The Bank aims for carbon neutrality by 2050, with interim targets and adherence to the Task Force on Climate-Related Financial Disclosures recommendations.
ResearchClimate risk and sustainable finance
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2025-06-24•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency's monthly House Price Index revealed a 0.4% decline in U.S. house prices for April, with a 3.0% increase compared to April 2024. Regional monthly changes varied, with the West South Central and South Atlantic divisions experiencing declines of 1.3%, while the Middle Atlantic division saw a 1.2% increase. All divisions reported positive 12-month price changes, led by the Middle Atlantic division at 7.4%.
Data & statistics
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2025-06-24•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS convened officials to review an IMF proposal for a financial-sector cybersecurity strategy, supported by IMF technical assistance. The strategy aims to coordinate cybersecurity initiatives amid rising digital services and cyber threats. IMF experts are conducting a training workshop on technology trends, cyber-risk regulation, and supervisory approaches, concluding with a cyber crisis simulation exercise.
Policy & regulationImplementation, projects & pilotsCyber resilience
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2025-06-24•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority issued a letter to Registrable Superannuation Entity licensees highlighting initial observations, best practices, and areas for improvement in expenditure outcomes to enhance compliance with legal duties and member outcomes. This remains a supervisory focus due to its significant impact on members.
SupervisionSupervision approach, priorities & toolkitCorporate governance
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2025-06-24•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites and phishing linked to The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA stressed that banks won't send SMS or emails with transaction hyperlinks or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-06-24•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on credit histories, detailing their formation, lender usage, and correction procedures. Citizens can access one free credit report annually, with additional requests incurring a fee. Reports are available through various channels, and inaccuracies can be disputed via Fingramota.kz.
Policy & regulationGuidance & interpretationCredit riskAccounting and financial reporting
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2025-06-24•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority released an online recording and Q&A document from its April 2025 Anti-Money Laundering and Countering the Financing of Terrorism Forum for Designated Non-Financial Businesses and Professions. The session detailed DNFBP supervisory structure, Code obligations, and updates on the Island’s National Risk Assessment and MONEYVAL evaluation preparations. The Q&A document addresses themes relevant to all supervised entities.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-24•Global•Bank for International Settlements
The Bank for International Settlements (BIS) released a chapter in its Annual Economic Report 2025, outlining a blueprint for a tokenised unified ledger system involving central bank reserves, commercial bank money, and government bonds. The BIS emphasizes tokenisation's potential to enhance cross-border payments and securities markets while maintaining trust in central bank money. It also highlights ongoing projects like Project Agorá and Project Pine to advance these initiatives.
Policy & regulationInternational standards & recommendationsCBDCTokenization
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2025-06-24•United Kingdom•UK Parliament
The UK Parliament’s Public Accounts Committee (PAC) reports insufficient progress by the Department for Business and Trade (DBT) in compensating Post Office Horizon scandal victims and recovering Bounce Back Loan Scheme (BBLS) fraud losses. Only a fraction of affected postmasters responded to compensation notifications, with GBP 1.9bn estimated lost and only GBP 130m recovered. The PAC also criticizes DBT's unclear support for priority industries, urging transparency in policy decisions affecting economic growth and competitiveness.
Other
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2025-06-24•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland published President Hammack’s speech titled “A Fourth District Groundhog in London’s Financial District,” presented at a monetary policy forum on June 24, 2025.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-06-24•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has terminated the activities of the Representative Office of Tajikistan’s OJSC Oriyonbank in Uzbekistan. This follows Oriyonbank’s Supervisory Board decision to close the office, which had been operational since August 4, 2022.
SupervisionAuthorisations & approvalsOutsourcing and third-party risk management
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2025-06-24•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has expanded its financial literacy initiatives to 71 remote districts, focusing on entrepreneurship and banking services. In the Surkhandarya region, nine roundtable discussions were held, reaching 683 participants, including youth, women, and entrepreneurs, covering topics such as self-employment, microfinance, and financial security.
Financial literacy & educationFinancial literacy and education
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2025-06-24•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan is collaborating with 11 commercial banks to develop a "Strategy for Providing Financial Services to Support Women’s Entrepreneurship" under Presidential Decree No. PP-103. A separate meeting in May with Hamroh, the Chamber of Commerce and Industry, and banks like Xalq Bank and Microcreditbank focused on creating tailored financial products, training, and mentorship for women entrepreneurs.
Policy & regulationCooperationFinancial inclusion
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2025-06-24•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) partnered with digital lender Tala to combat digital fraud through enhanced financial and digital education. Tala launched Confianzómetro 2025, a free tool to help users identify risks in digital credit offers. Findings show improved digital hygiene, with 78% of users checking for official websites before downloading apps, up from 43% in 2023.
Financial literacy & educationFinancial literacy and education
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2025-06-24•Global•GPFI
The G20 Global Partnership for Financial Inclusion (GPFI) released materials from its event "Moving the needle – Advancing financial inclusion, from access to usage," focusing on Africa and the shift from account access to active usage. Discussions included modernizing digital infrastructure, measuring inclusion with a gender lens, and enhancing customer protection in digital finance. The narrative emphasized the need for relevant financial products, digital capability, and robust frameworks, highlighting the potential of digital ID to unlock significant economic value.
Policy & regulationGuidance & interpretationFinancial inclusionConsumer and investor protection
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2025-06-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the International Fund for Agricultural Development discussed enhancing cooperation, focusing on the REMIT PRIME programme and Tajikistan’s National Financial Inclusion Strategy for 2022–2026. They also addressed the development of a financial literacy programme for 2026–2030 and plans for a banking academy. Both parties expressed commitment to aligning efforts with national priorities.
Policy & regulationCooperationOther
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2025-06-24•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported strong economic growth in 2025, with acceptable inflation and a declining public debt-to-GDP ratio. The International Monetary Fund completed its Article IV consultation and the second review under the Policy Coordination Instrument, meeting all quantitative targets except one. The IMF urged governance and transparency reforms to address structural vulnerabilities and improve the business environment.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsFinancial and market indicators
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2025-06-24•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, with the European Bank for Reconstruction and Development, hosted a conference on implementing the Women Entrepreneurs Finance Code. The event addressed financing challenges for women entrepreneurs and established action plans to enhance access to finance, including monitoring mechanisms and capacity building for financial institutions. The initiative supports the coordinated implementation of the WE Finance Code.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-06-24•Morocco•Central Bank of Morocco
The Central Bank of Morocco held its key interest rate at 2.25%, citing inflation consistent with its medium-term price stability objective, stronger non-agricultural growth and anchored inflation expectations amid significant uncertainty. It forecasts inflation of around 1% in 2025 and 1.8% in 2026, and economic growth of 4.6% and 4.4%, respectively.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments