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2025-05-26•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. HKMA emphasized banks won't send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected customers should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-26•Finland•Ministry of Finance (Finland)
Finland’s Ministry of Finance has initiated a consultation on draft legislative changes to align with the EU’s revised banking framework, incorporating Basel Committee standards and addressing sustainability risks. The proposals cover supervisory powers, credit institution governance, crypto-asset risk management, and the establishment of non-EU banks in Finland. Additional amendments address the independence of the Finnish Financial Supervisory Authority and the Bank of Finland, with Finance Finland dissenting in the working group report.
Policy & regulationRules & requirementsCapital adequacyPrudential risksFinancial stability and systemic risk
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2025-05-26•Ghana•Bank of Ghana
The Bank of Ghana's Governor outlined monetary and financial stability priorities, maintaining the policy rate at 28% and targeting inflation within the 8±2% band by Q1 2026. Key regulatory changes include a revised Cash Reserve Ratio approach and a roadmap for regulating Virtual Asset Service Providers. The address also highlighted transparency reforms, a shift to forward-looking supervision, and measures to address non-performing loans.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-05-26•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City released Fourth Quarter 2025 results of its semiannual Bank Capital Analysis, showing year-over-year declines in leverage ratios for U.S. global systemically important banks (G-SIBs). As of December 31, 2025, the weighted average tier 1 leverage ratio for U.S. G-SIBs fell 30 basis points to 6.81 percent and remained below large, regional, and community banks, while the weighted average supplementary leverage ratio declined 27 basis points to 5.70 percent. The analysis also provides leverage ratios for individual U.S. and non-U.S. G-SIBs.
Data & statisticsCapital adequacy
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2025-05-26•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino alerted to rising computer fraud targeting customers of authorised entities, stressing customer awareness and technical safeguards. It advises caution with communications appearing from authorised entities and outlines risk-reduction measures, including verifying operator authorisations and reporting suspicious activities. The Bank plans to enhance financial education on its website to bolster customer defences.
SupervisionAlertsFraud and scamsCyber resilience
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2025-05-26•Europe•European Central Bank
European Central Bank President Christine Lagarde, in Berlin, highlighted the euro's potential to expand its international role amid global economic shifts and US dollar uncertainty, requiring strategic efforts. She outlined three foundations: geopolitical stability, economic strength through deeper capital markets, and legal-institutional integrity. Lagarde noted the euro's current position as the second global currency and discussed initiatives like a digital euro and enhanced cross-border payments to support its international role.
Policy & regulationReform agendas & prioritiesGeopolitical risk
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2025-05-26•Europe•European Central Bank
The European Central Bank released the October 2025 roster for the Rulebook Development Group, detailing its leadership and participating organizations. Patrick Papsdorf chairs the group, with Sjoerd van der Vaart as secretary, and includes representatives from credit institutions, payment institutions, third-party providers, and consumer groups. Observers from the Eurosystem, EU institutions, and national central banks are also involved.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-05-26•Europe•European Central Bank
The European Central Bank released results from the 22nd meeting of the Digital Euro Scheme Rulebook Development Group, detailing progress on the rulebook and implementation specifications. Key developments include minimum user experience requirements, work on the scheme adherence model, and an interim report on brand rules. The ECB also announced a new document on data management and covered specifications for settlement, fraud risk management, and data exchange services.
Policy & regulationRules & requirementsCBDC
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2025-05-26•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on five websites and instructed providers in Italy to block access. This action is part of IVASS's ongoing efforts, with 247 sites blocked since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers, especially short-term motor third-party liability policies, by consulting its registers and lists.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-05-26•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has launched the website for the Insurance Arbiter, an online dispute resolution mechanism for insurance matters. The Arbiter is not yet operational, pending a dedicated IVASS measure. The website outlines key topics such as appeal submission, non-compliant insurers, and will support an online procedure for claimants.
Policy & regulationImplementation, projects & pilotsComplaints and dispute resolution
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2025-05-26•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a fee of VND 1,000,000 for the issuance of a securities practitioner certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person at the Commission. Failure to collect the certificate within one year of the fee notice will result in annulment of the certificate.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-26•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its 10th Agribusiness Bulletin, highlighting significant growth in Agribusiness Production Chains Investment Funds (FIAGRO) and Agribusiness Receivables Certificates (CRA) for Q1 2025. FIAGRO net assets increased by 204% from March 2023 to March 2025, while CRA grew by 42%. The bulletin marks the first coverage of FIAGRO under CVM Resolution 214, establishing a new regulatory framework effective March 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-26•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a public judgment session on 27 May for three administrative sanctioning proceedings. Cases involve Guimarães & Associados for alleged non-compliance with professional education obligations, Celso Luiz Martins Vieira and Paulo José Martins Vieira for alleged market manipulation, and Interativa Investimentos Ltda. for alleged due diligence failures. The session will be accessible in person and via videoconference, with potential amendments to reports post-session.
EnforcementInvestigations & enforcement actionsAuditing
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2025-05-26•Brazil•Brazil Securities Commission (CVM)
Brazil Securities Commission (CVM) and the National Federation of Associations of Central Bank Employees (Fenasbac) have launched LEAP, a Laboratory for Experimentation, Learning and Prototyping, to develop technology-based solutions for Brazil's capital markets. LEAP is part of NEXUS, an open-innovation ecosystem, and aims to test innovation with regulatory oversight, incorporating sustainability into its first cycle.
SupervisionInnovation & testingFintech and insurtechMarket development
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2025-05-26•Serbia•National Bank of Serbia
The National Bank of Serbia refuted media claims, attributing the first quarter's decline in tourism turnover to protests and blockades rather than reduced tourism vouchers. The bank reported a 0.2% year-on-year drop in total tourist arrivals, with March showing a significant 11.1% decline. It emphasized that rising wages, pensions, and consumer lending should have supported tourism growth, dismissing inflation as a factor.
OtherEconomic data and developments
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2025-05-26•Oman•Oman Financial Services Authority
The Oman Financial Services Authority and the Braxton Group held a workshop on rebalancing the motor insurance sector, focusing on digital transformation and improved claims management. Discussions covered challenges like competition, high loss ratios, and repair service issues, proposing amendments to include natural-calamity coverage in vehicle insurance. Strategic recommendations aimed to enhance profitability, pricing, and regulatory frameworks.
Policy & regulationReform agendas & prioritiesMarket development
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2025-05-26•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia launched a 40 Hadiths book series on sustainability and ethical sales transactions and established the Maqasid al-Shariah Task Force to enhance the Islamic capital market's understanding and adoption of Maqasid al-Shariah Guidance. The Task Force will promote strategic collaboration and innovation among regulators and industry, with members including Bursa Malaysia Berhad and various financial associations.
Policy & regulationGuidance & interpretationESG
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2025-05-26•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan and the Central Bank of the United Arab Emirates signed a Memorandum of Understanding to enhance cooperation and information exchange in the financial sector. The MoU covers banking, insurance, payment services, potential integration of retail payment systems, and discussions on legislative and regulatory frameworks. It also includes provisions for meetings, courses, and seminars on mutual interests.
Policy & regulationCooperationCross-border cooperation
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2025-05-26•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) released a final report with revised recommendations for liquidity risk management in collective investment schemes (CIS), including implementation guidance. The report includes 17 recommendations across six areas, such as CIS design, liquidity management tools, stress testing, and governance. This initiative aims to implement the Financial Stability Board's December 2023 recommendations on addressing liquidity mismatch in open-ended funds.
Policy & regulationInternational standards & recommendationsLiquidity risk
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2025-05-26•Kosovo•Central Bank of the Republic of Kosovo
Deputy Governor Dardan Fusha of the Central Bank of Kosovo attended the IMF and World Bank Group meeting in Ljubljana, focusing on global economic outlook and regional developments. Kosovo's progress under its IMF programme was positively assessed, noting benefits from the Resilience and Sustainability Facility. Discussions addressed global challenges like supply-chain disruptions and inflation, while emphasizing digital transformation and green transition opportunities.
Policy & regulationCooperation
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2025-05-26•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission's Civil Sanction Committee has imposed civil sanctions on Mr. Pongsak Lothongkam for insider trading of SVI Public Company Limited shares. He must pay THB 123,337,594 and is barred from serving as a director or executive in securities-related companies for 29 months. The sanctions include a civil penalty, compensation, and reimbursement of investigative expenses, with funds remitted to the Ministry of Finance.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-26•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's chairman, Mohamed Farid, discussed a proposed law on state ownership in companies, emphasizing broader ownership via the securities market to enhance private sector participation and transparency. Farid highlighted past government listings and argued that disciplined ownership expansion could attract investors, increase market liquidity, and improve company performance.
Policy & regulationRules & requirementsCorporate governance
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2025-05-26•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority stressed enhancing cyber resilience in the non-banking financial sector at Caisec25, citing cyberattacks as a key market stability risk. It linked fintech and cybersecurity initiatives to customer data protection, noting 16 fintech licenses issued and compliance by 110 institutions with cybersecurity requirements. Regulatory measures under Law No. 5 of 2022 include decisions on technological infrastructure, digital identity, and an outsourcing register for fintech services.
Policy & regulationRules & requirementsCyber resilience
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2025-05-26•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority imposed a EUR 7,670,000 penalty on S-Bank Plc for operational risk management failures and issued a public warning for deficiencies in strong customer authentication and payer consent. The issues, linked to a programming error in the bank's IT system, were identified during inspections and investigations in 2022–2023. The decision is not yet legally binding, and S-Bank may appeal within 30 days.
EnforcementInvestigations & enforcement actionsOperational risk and resilience
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2025-05-26•Finland•Finanssivalvonta
The Financial Supervisory Authority (FIN-FSA) has issued Regulations and Guidelines 1/2025, setting minimum requirements for managing default risks in unsecured consumer lending, effective 1 June 2025. The rules apply to credit institutions and providers in Finland, mandating the use of rating systems to assess default risk, with performance measured by the Gini coefficient. Periodic data reporting to FIN-FSA is required, with potential future thresholds based on data analysis.
Policy & regulationRules & requirementsCredit risk
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2025-05-26•Russia•Central Bank of Russia
The Central Bank of Russia released a report proposing changes to the admission and recording of foreign securities in Russia's depository system. The proposals aim to mitigate investor risks from cross-border custody and differing legal models, suggesting alignment with Russian practices or trading as depositary receipts. The report also addresses depository liability and options for modernizing foreign nominee holder institutions.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-05-26•Russia•Central Bank of Russia
The Central Bank of Russia will now publish its monthly balance of payments estimate on the 45th calendar day post-reporting period to incorporate a larger data set. This aligns with international practices for external sector statistics and Russia's external trade data schedule.
Data & statisticsBalance of payments and other external statistics
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2025-05-26•Russia•Central Bank of Russia
The Central Bank of Russia released its May 2025 monitoring results for maximum interest rates on Russian rouble deposits from the 10 largest credit institutions by household deposits. The average maximum rate was 19.60% for the first 10 days and 19.52% for the second 10 days of May. Rates by maturity were 18.21% for up to 90 days, 18.99% for 91 to 180 days, 19.07% for 181 days to one year, and 17.56% for over one year.
Data & statisticsFinancial and market indicators
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2025-05-26•Russia•Central Bank of Russia
The Central Bank of Russia has issued guidance for banks to restructure loans for corporate borrowers facing temporary hardship, offering relief on provisioning requirements for eligible restructured exposures. Eligibility requires a significant probability of financial recovery, excluding highly leveraged companies, and mandates a realistic three-year business plan. Banks must regularly verify performance against control metrics and adjust provisions if necessary.
Policy & regulationGuidance & interpretationLendingPrudential risks
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2025-05-26•Russia•Central Bank of Russia
The Central Bank of Russia announced the operating schedule for the Bank of Russia Payment System on 13 June 2025. The schedule includes a preliminary session from 00:00 to 01:00, a regular session from 01:00 to 21:00, and a final session from 21:00 to 22:00 Moscow time. The faster payments service will remain operational 24/7.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-05-26•Chile•Central Bank of Chile
The Central Bank of Chile has launched the "Centenario Banco Central" website as part of its centenary initiatives, offering a digital platform that highlights the institution's history and key economic milestones. The site features a timeline from 1827 to 2025, detailing the Bank's evolution and current identity as an autonomous institution. It also includes commemorative activities and a channel for public engagement with historical content.
Other
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2025-05-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the "Banking Sector Digital Transformation 2025" event on 29 May in Hanoi, marking a milestone in its digital transformation plan. The event will focus on customer-centric digital finance and technologies like artificial intelligence, big data, and blockchain. The bank reported over 90% of transactions executed digitally and more than 87% of adults holding bank accounts, while outlining priorities such as legal reviews, data systems, and international cooperation.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-05-26•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority found significant deficiencies in Skagerrak Sparebank's ICT governance, including risk management, supplier oversight, and compliance with ICT Regulation. Issues included inadequate board approval of governance documents, insufficient risk assessment, and weaknesses in change management and incident handling. The bank has initiated remedial measures, and Finanstilsynet requested documentation from the board meeting discussing the report.
SupervisionReviews, inspections & stress testsIT managementOperational risk and resilience
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2025-05-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway (Finanstilsynet) published a report on Watercircles Forsikring ASA, highlighting concerns over financial vulnerability, governance, and technical provisioning. It criticizes the firm's optimistic profitability forecasts and governance clarity, noting a rejected Swedish licence application and questioning the CEO's dual role. Finanstilsynet expects strengthened governance and technical provisions, including annual parameter reviews.
SupervisionReviews, inspections & stress testsCapital adequacyCorporate governance
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2025-05-26•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) fined Francisco Coeymans Ossandón UF 50,000 and imposed a five-year ban from directorial or managerial roles for providing false financial information about Primus Capital S.A. (PCSA). Coeymans, as PCSA's general manager, overstated assets by over CLP 35 billion through irregular factoring operations. Following the discovery, PCSA revised its 2022 financial statements, reducing total assets from CLP 258,748.797 million to CLP 222,908.263 million.
EnforcementSanctions & designationsFinancial benchmarksMarket abuse
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2025-05-26•Chile•Chile Financial Market Commission
The Chile Financial Market Commission fined Banco de Chile UF 617.98 for granting loans to individuals listed in the National Registry of Alimony Payment Debtors. The bank failed to consult the registry and withhold funds as mandated by Law No. 14,908 on Family Abandonment and Alimony Payments.
EnforcementInvestigations & enforcement actionsLending
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2025-05-26•China•China Securities Regulatory Commission
The General Office of the Communist Party of China Central Committee and the State Council issued opinions to enhance the "modern enterprise system with Chinese characteristics" over five years, targeting improvements by 2035. The opinions outline governance expectations for state-owned and private enterprises, including optimizing shareholding structures, standardizing board authorizations, and enhancing governance-related disclosures. They also call for stronger cross-department oversight, tighter financial regulation, and stricter prevention of corporate financial fraud.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-05-26•Malta•Malta Financial Services Authority
The Malta Financial Services Authority finalized Rulebooks for Company Service Providers, introducing a more proportionate regulatory approach. Individuals acting as directors or company secretaries in up to two entities must notify the MFSA for risk assessments, while those with up to 10 involvements can use a simplified application process. A single annual return will be required for both MFSA and Financial Intelligence Analysis Unit purposes.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-26•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced the first issuance of "low impact" corporate bonds under General Resolution No. 1047, allowing automatic authorization of low or medium impact offerings. This resolution introduces simplified regimes exempting certain securities from standard public offering requirements. The initial transaction involved a corporate bond by an SME under the "Pyme CNV Garantizada" regime, priced at TAMAR + 3.49% (34.1250% on the pricing date).
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-05-26•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance has launched a Monitoring Dashboard for insurers reporting policy-issuance data via the Policy Issuance Information System (SIEP) for Motor Vehicles, Public Passenger Transport, and Motorcycles. The dashboard offers real-time data visibility and performance benchmarking against sector indicators to aid risk management. Access requires credentials, and virtual training sessions are forthcoming.
SupervisionSupervision approach, priorities & toolkitRegulatory reporting
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2025-05-26•Moldova•National Bank of Moldova
The National Bank of Moldova has designated four banks as other systemically important institutions (O-SIIs) and set specific O-SII capital buffer rates: 1.5% for BC “MAIB” S.A., 1.0% for BC “Moldindconbank” S.A., and 0.5% for both OTP Bank S.A. and B.C. “Victoriabank” S.A. This decision, based on analyses to identify systemically important banks, will be reviewed annually and takes effect upon publication in the Official Gazette of Moldova.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-05-26•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu emphasized the banking sector's transformation and the central bank's role in aligning Moldova's financial framework with EU requirements. Key developments include Moldova's accession to the Single Euro Payments Area (SEPA), expected to save citizens over EUR 20 million annually, and international cooperation on legislative equivalence and capital market development. The central bank also plans to apply EU Taxonomy rules for green investments to stimulate sustainable finance, aligning with the EU's EUR 2 billion economic growth plan for Moldova.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2025-05-26•Moldova•National Bank of Moldova
The National Bank of Moldova reported a sharp rise in residential property prices by the end of Q1 2025, with the Residential Property Price Index (RPPI) reaching 211.7, driven by expanded credit access through the "Prima Casă Plus" programme. Despite higher prices, transaction activity cooled, with a decline in sales in Chișinău and a rise in mortgage-financed transactions. The central bank anticipates further price increases until the Chișinău median reaches approximately EUR 127,800, potentially leading to stagnation in transaction volumes and a shift in activity beyond Chișinău.
Data & statistics
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2025-05-26•Kenya•Kenya Capital Markets Authority
The Kenya Capital Markets Authority has canceled tender CMA/ONT012/2024-2025 for general insurance cover, initially advertised on 13 May 2025. Bidders are advised to check the Public Procurement Information Portal and the Authority's website for potential re-advertisement.
Institutional developmentProcurement
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2025-05-26•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission has launched its 2025 Fintech-Based Thematic Promotion focused on "financial inclusion" to foster collaboration between financial institutions and technology companies. The initiative includes experience sharing sessions, an innovative proposal competition, and support for experimentation and pilot programmes. Schools, SMEs, and community groups will participate to identify user needs and develop targeted solutions.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-05-26•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE signed a Memorandum of Understanding with the Central Bank of the Republic of Azerbaijan to enhance cooperation and exchange expertise in the financial sector. The agreement includes sharing supervisory and regulatory best practices, licensing processes, and services related to payments and financial infrastructure. It also promotes technical cooperation through training, joint studies, and research.
Policy & regulationCooperationCross-border cooperation
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2025-05-26•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority imposed AED 610,000 in penalties on 23 entities for violating the Common Reporting Standard Regulations 2017 and the Foreign Account Tax Compliance Regulations 2022. The enforcement actions addressed compliance failures like inadequate risk assessments, incomplete or inaccurate reporting, and failure to collect valid self-certification forms. Penalty notices are available on the ADGM website.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-05-25•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has authorized Asas Gulf Capital Company to conduct arranging and advising activities in the securities business, following the completion of business commencement requirements. The license was granted under the Capital Market Law and its implementing regulations.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-25•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority is consulting on a draft framework for an Offshore Securities Business License. This would allow institutions with a Ministry of Investment regional headquarters license to conduct securities activities outside the Kingdom and manage funds within it. The framework proposes reduced regulatory requirements, adhering to Saudi laws, and complements the Regional Headquarters Program for financial institutions.
Policy & regulationRules & requirementsLicensing framework and process
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2025-05-25•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority has launched a recruitment call for research officer positions to strengthen its teams.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-05-25•China•Central Bank of the Republic of China
The People's Bank of China and Bank Indonesia signed a memorandum of understanding to enhance bilateral transaction settlements in local currencies. This expands the 2020 framework to include all transactions, promoting payment connectivity and increased local currency use in trade and investment. The agreement aims to strengthen cooperation between the two countries' monetary and financial markets.
Policy & regulationCooperationCross-border cooperationCross-border payments
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2025-05-25•Indonesia•Bank Indonesia
Bank of Indonesia and the People's Bank of China have signed an updated memorandum of understanding to enhance bilateral transactions in local currencies. The expanded framework now includes all transactions, covering capital and financial accounts, to boost payment connectivity and local currency usage.
Policy & regulationCooperationCross-border cooperation
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2025-05-25•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru has issued a draft regulation establishing a framework for parametric insurance products covering natural events through objective physical triggers. The proposal defines core product features and conditions for using the “parametric insurance” label, and sets insurer obligations on data sources, verifiers and calculation agents, monitoring technology, payment mechanisms, documentation, and disclosure, including product guides and staff training.
Policy & regulationRules & requirementsNature-related risk
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2025-05-25•Middle East•Arab Monetary Fund
The Arab Monetary Fund backed Iraq's National Financial Inclusion Strategy 2025–2029, aiming to increase adult financial account ownership to 50% by 2030, reduce the gender gap in financial access to 3.5 percentage points, and boost digital payment usage to 85%. The strategy emphasizes digital solutions, governance, and financial literacy, with the Arab Monetary Fund providing technical expertise and regional coordination.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-05-25•Iraq•Central Bank of Iraq
The Central Bank of Iraq and the Central Bank of Tunisia signed a memorandum to enhance cooperation in banking supervision, risk management, and electronic payment systems, aligning with international standards to support financial inclusion. The agreement, signed during a conference on Iraq's National Strategy for Financial Inclusion 2025–2029, also covers information exchange on financial innovation, cybersecurity, and combating money laundering.
Policy & regulationCooperationCross-border cooperationFinancial inclusion
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2025-05-25•Iraq•Central Bank of Iraq
The Central Bank of Iraq has launched the country's first National Financial Inclusion Strategy for 2025–2029, aiming to expand access to safe financial services and enhance consumer protection. Developed with international and local partners, the strategy prioritizes increasing bank account ownership, electronic payment usage, and infrastructure development.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-05-25•Oman•Central Bank of Oman
The Central Bank of Oman announced the commencement of an International Monetary Fund (IMF) staff mission in Oman for regular Article IV consultations. The mission will engage with various officials to discuss economic, financial, and monetary developments, fiscal and monetary policy, and the impact of global oil price fluctuations. An Article IV report with risk assessments and policy recommendations is expected post-visit.
Policy & regulationPeer reviews and country evaluationsEconomic data and developmentsFinancial and market indicators
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2025-05-25•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority has revoked the licenses of 28 insurance intermediaries and service providers. The final decisions continue corrective measures announced in August 2024, and stakeholders should deal only with licensed companies.
SupervisionAuthorisations & approvalsComplianceConsumer and investor protection
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2025-05-25•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's chair, Mohamed Farid, announced plans to amend the statute of the Egyptian Center for Voluntary Arbitration and Settlement of Non-Banking Financial Disputes to allow expedited and electronic arbitration. This initiative aims to enhance confidence and stability in non-banking financial markets amid expanding activities and recent market developments. The event also included remarks on creating a stable legal environment for investment and promoting Egypt as a regional hub for financial-sector dispute resolution.
Policy & regulationRules & requirementsOther
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2025-05-25•Qatar•Qatar Financial Centre
The Qatar Financial Centre signed a memorandum of understanding with Ashmore Group to enhance Qatar’s capital markets and asset management industry through knowledge exchange and innovative investment solutions. Ashmore, managing USD 46.2 billion, will collaborate with the QFC to introduce global best practices and engage with investors. This agreement follows Ashmore's registration under the QFC platform and the launch of its office in Qatar.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-05-24•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Finance issued two supreme decrees revising interest-rate rules and easing foreign currency movement regulations. Supreme Decree 5403 adjusts maximum rates for productive loans and expands eligibility for a minimum guaranteed savings rate. Supreme Decree 5404 simplifies foreign currency entry and exit procedures, removing prior authorisation requirements for larger transactions.
Policy & regulationRules & requirementsLending
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2025-05-24•Tanzania•Tanzania Insurance Regulatory Authority
Tanzania Insurance Regulatory Authority Commissioner Dr. Baghayo Saqware urged youth to tackle insurance market challenges through innovation at the Bima Debate in Dar es Salaam. He highlighted the market's 15% annual growth over five years, with increased service providers, employment, and domestic premium retention. The event was organized by the Insurance Institute of Tanzania with TIRA ahead of Insurance Day 2025.
Financial literacy & educationFintech and insurtech
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2025-05-24•Peru•Central Bank of Peru
The Central Bank of Peru reported a current account surplus of 2.3% of GDP at the end of Q1 2025, up from 1.0% a year earlier, marking six consecutive quarters of positive outcomes. The quarterly surplus reached USD 1.029 billion, driven by a larger goods trade surplus and increased remittances, despite higher foreign company profits and maritime freight costs.
Data & statisticsBalance of payments and other external statistics
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2025-05-24•Indonesia•OJK
Indonesia’s Financial Services Authority (OJK) launched Financial Literacy Month 2025 in Solo Raya with an event aimed at enhancing financial literacy among young consumers. The event featured a financial talk show and the inauguration of seven "OJK PEDULI" Financial Literacy Ambassador Mobilisers. OJK plans to implement the initiative nationally with support from regional offices and financial services business actors.
Financial literacy & educationFinancial literacy and education
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2025-05-24•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Region 13 branch held sessions with commercial banks to review performance and set credit growth expectations aligned with economic goals. Discussions included credit programs, digital transformation, and challenges like non-performing loans and unsecured lending limits. Region 13 Director Pham Minh Tu emphasized adherence to State Bank guidance, credit quality improvement, and enhanced digitization and customer service.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-05-23•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance outlined its financial inclusion agenda at the Chile Fintech Forum 2025, highlighting the launch of the National Financial Inclusion Strategy (ENIF) in January 2025. Capital Markets Coordinator Alejandro Puente emphasized improving the safe and effective use of financial products, noting significant usage gaps despite high access levels. The Presidential Advisory Commission for Financial Inclusion (CAPIF) will coordinate efforts across 17 public bodies to address these challenges.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-05-23•Global•Egmont Group
Egmont Group Executive Secretary Jérôme Beaumont participated in the Wolfsberg Group Forum, emphasizing the need for National Risk Assessments to become dynamic frameworks for anti-money laundering and counter-terrorist financing, highlighting the role of Financial Intelligence Units and public-private partnerships. The forum facilitated discussions with Financial Action Task Force and Wolfsberg Group leaders to enhance collaboration.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-05-23•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro has launched the "2025 Central Bank of Montenegro Green Award" for the best paper on climate change's impact on the financial system, offering a EUR 3,000 prize. The initiative aims to foster research and awareness of climate-related financial stability challenges. The award aligns with the Financial Stability Council’s roadmap to integrate Montenegro’s financial system with global sustainable finance standards.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-23•Belgium•Belgium Financial Services and Markets Authority
Belgium's Financial Services and Markets Authority released an analysis on listed companies' compliance with submitting regulated information via the eCorporate platform concurrently with public disclosure. This analysis is contextualized by the upcoming European single access point for regulated information.
SupervisionRisk monitoring & watch pointsRegulatory reporting
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2025-05-23•Ghana•Ghana National Insurance Commission
Ghana’s National Insurance Commission has inaugurated a new Board to expand insurance coverage, especially in informal and agricultural sectors, amid penetration rates below 2%. The Ministry of Finance stressed the need for tailored products for underserved groups and linked insurance priorities to climate risks and ESG principles. Key priorities include enforcing compulsory insurance, leveraging technology, and driving systemic reforms to boost sector growth and economic contribution.
Institutional developmentLeadership change & appointmentsFinancial inclusion
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2025-05-23•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance detailed Finance Minister Mario Marcel's participation in Chile Day 2025 in New York, promoting Chile to international financial markets. Discussions include legal reforms for investment permits, financial-sector innovations, and the Fintech law. Panels will address permitting requirements, the new pension investment regime, and capital markets regulation, with closing remarks by Marcel and Chile Day director Silvia Fernández.
OtherCross-border cooperation
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2025-05-23•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority and the Federal Public Service Economy released a joint handbook clarifying rules for cross-selling products with an insurance component. The handbook provides practical tools, explains key concepts, and outlines the division of powers between the two authorities. It focuses on cross-selling arrangements involving insurance as a main or ancillary product.
Policy & regulationGuidance & interpretationSales and distributionConsumer and investor protection
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2025-05-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has imposed new conditions on Kalkine Pty Limited’s financial services licence due to concerns over unlicensed advice. Kalkine must appoint an independent compliance consultant to review customer interactions and supervision mechanisms, with findings reported to ASIC. The review will assess compliance and adequacy of controls, and Kalkine must implement any recommendations. ASIC's concerns included potential misrepresentation of advice and inadequate processes to ensure services were within the licence scope. Kalkine has agreed to these conditions.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-05-23•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission and the Australian Prudential Regulation Authority released notes from recent Superannuation CEO Roundtables, which addressed key issues concerning the Financial Accountability Regime. The discussions, held in April 2025, involved 15 superannuation chief executives and focused on enhancing accountability and governance in Australia's financial services industry.
Policy & regulationGuidance & interpretationCorporate governance
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2025-05-23•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued decisions, denying a petition on business reputation and listing RCM Brokers, Invexis, and CGL Ltd as dubious projects. It amended its 2025 rule-making plan, endorsed a draft on foreign currency bond transactions during martial law, registered share issues for joint investment companies, and approved appointments and resolutions, including a draft on critical infrastructure protection.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-23•Ukraine•Ukraine National Commission on Securities and Stock Market
Ruslan Magomedov, Chairman of the Ukraine National Commission on Securities and Stock Market, highlighted challenges faced by non-state pension funds (NPFs) in Ukraine, particularly limited access to reliable investment instruments. He emphasized preserving purchasing power and proposed channeling investments into corporate bonds and stimulating equity-market development. Magomedov also noted strict regulatory requirements and supervision to protect citizens' savings.
Policy & regulationReform agendas & priorities
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2025-05-23•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market supports the "Financial Literacy for Defenders of Ukraine" project to enhance financial knowledge for servicemen, veterans, and their families under martial law. The initiative focuses on personal finance management, banking services, payment security, and consumer rights protection, with educational materials developed in collaboration with the National Bank of Ukraine and other stakeholders.
Financial literacy & educationFinancial literacy and education
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2025-05-23•Netherlands•De Nederlandsche Bank
Olaf Sleijpen of De Nederlandsche Bank stressed strong internal audits for central banks to maintain trust. He outlined five elements: adherence to standards, understanding the organization, external networking, clear communication, and synthesizing findings. Sleijpen also emphasized improved cross-domain and international cooperation among central banks.
Policy & regulationGuidance & interpretationAuditing
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2025-05-23•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL visited Serbia from 12 to 23 May 2025 for a mutual evaluation of its anti-money laundering and counter-terrorism financing measures under the revised 2022 FATF Methodology. The assessment involved meetings with Serbia's criminal justice system, ministries, law enforcement, supervisory authorities, private-sector participants, and non-profit organisations. The evaluation report will be discussed at the MONEYVAL plenary meeting in December 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-05-23•Ireland•Central Bank of Ireland
The Central Bank of Ireland appointed Derville Rowland, Deputy Governor for Consumer and Investor Protection, to the Executive Board of the new EU Anti-Money Laundering Authority (AMLA). AMLA aims to transform EU anti-money laundering and counter-terrorism financing supervision and enhance cooperation among financial intelligence units. Mary-Elizabeth McMunn will temporarily assume Rowland's responsibilities while recruitment for a permanent replacement is underway.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-23•Georgia•National Bank of Georgia
The National Bank of Georgia hosted a delegation from the Central Bank of Azerbaijan to discuss monetary policy implementation and balance of payments preparation. Technical sessions were conducted by the National Bank of Georgia's Macroeconomics and Statistics Department. This visit is part of a bilateral cooperation framework established by a Memorandum of Understanding signed in March.
Policy & regulationCooperationCross-border cooperation
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2025-05-23•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has approved regulatory relaxation for Non-Banking Microfinance Companies (NBMFCs) to participate in the Government of Punjab’s Apni Chhat Apna Ghar initiative. This move aims to enhance access to affordable housing for low-income households by expanding financing channels through NBMFCs.
Policy & regulationRules & requirementsFinancial inclusion
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2025-05-23•Italy•Bank of Italy
The Bank of Italy's Q1 2025 housing market survey indicates continued house price growth amid reduced supply and strong demand. The average discount from asking prices fell to 7%, and selling times dropped to five months, the lowest since the survey began. Despite high prices deterring offers, agents remain optimistic about market conditions and anticipate further price increases in Q2.
Data & statisticsEconomic data and developments
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2025-05-23•Italy•Bank of Italy
The Bank of Italy released a note on the G7 Finance Ministers and Central Bank Governors meeting in Banff, Canada, from 20–22 May 2025. Discussions centered on the global economy, Ukraine, economic security, and artificial intelligence.
Policy & regulationOther
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2025-05-23•Italy•Bank of Italy
The Bank of Italy's Q1 2025 Housing Market Survey shows strengthened housing price growth amid declining supply and robust demand. The average discount on asking prices fell to 7%, and the average time on market dropped to five months, both record lows. Nearly 60% of surveyed agents cited high prices as a barrier to purchase offers, with the short-term rental market contributing to reduced home sale supply and upward pressure on prices and rents.
Data & statisticsEconomic data and developments
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2025-05-23•China•Central Bank of the Republic of China
People's Bank of China Governor Pan Gongsheng and JPMorgan Group CEO Jamie Dimon discussed the global economic and financial situation, China-US economic and trade relations, and China's macroeconomic policy.
Monetary policyOtherCross-border cooperation
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2025-05-23•China•Central Bank of the Republic of China
The People's Bank of China’s Party Committee held a lecture on implementing the Central Eight-Point Regulation to enhance conduct and discipline. Governor Pan Gongsheng emphasized stronger awareness, political accountability, and stricter thrift regulations. The session included discussions on rectifying issues identified through central inspection, with participation from officials across the central bank and related entities.
Institutional developmentCooperation & capacity buildingOther
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2025-05-23•Latvia•Ministry of Finance (Latvia)
Latvia's Finance Minister Arvils Ašeradens met with Ireland’s Finance Minister Paschal Donohoe and Minister of State Emer Higgins in Dublin to discuss macroeconomic stability, digital euro progress, and capital markets integration. They discussed a euro area growth forecast of 1% in 2025, Latvia's export exposure, and the need for investment environment measures. The ministers also exchanged views on enhancing procurement systems and digitalisation efforts.
Policy & regulationCooperationCross-border cooperation
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2025-05-23•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) released an information note and interview with its President, Margarida Corrêa de Aguiar, discussing key challenges in leading the authority.
Policy & regulationGuidance & interpretationLeadership change and appointments
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2025-05-23•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported that Minister Kyriakos Pierrakakis met with European Commissioner Maria Luís Albuquerque to discuss Europe's and Greece's economic situation, focusing on the financial sector and EU initiatives like the Banking Union and Capital Markets Union. Discussions highlighted Greece's banking improvements, including rising deposits and reduced non-performing loans, and addressed European market challenges. Albuquerque was briefed on Greece's capital markets bill and expressed optimism about Greece's economic prospects.
Policy & regulationCooperationFinancial stability and systemic riskMarket development
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2025-05-23•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance announced the 2025–2030 Strategic Framework for Capital Market Development, emphasizing regional cooperation and integration. The strategy includes a Memorandum of Understanding with the European Bank for Reconstruction and Development, involving eight Central, Eastern, and South-Eastern European exchanges, aiming to create a single regional index to enhance investor visibility and harmonize market conditions.
Policy & regulationReform agendas & prioritiesMarket development
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2025-05-23•Portugal•Bank of Portugal
The Bank of Portugal reported non-financial sector indebtedness rose by EUR 4.6 billion in March 2025, reaching EUR 825.1 billion. Private sector debt increased by EUR 2.4 billion, driven by corporate and housing credit, while public sector debt rose by EUR 2.1 billion, mainly due to non-resident purchases of public debt securities. Annual growth rates showed a 1.3% increase in private corporate debt and a 5.1% rise in household debt compared to March 2024.
Data & statisticsFinancial and market indicatorsBalance of payments and other external statistics
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2025-05-23•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
Botswana's Financial Stability Council reported rising financial stability risks due to a deteriorating fiscal position, slow growth, and lower liquidity, despite the system being deemed safe. The Council highlighted concerns over funding concentration and interconnectedness, urging vigilance on credit exposures and liquidity. The Bank of Botswana has reduced the primary reserve requirement and extended repo maturities to support liquidity, with further policy responses anticipated.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-05-23•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operating and Services Circular DTE-184 (Matter 33), detailing provisions on deposits subject to verification and cash foreign exchange operations.
Policy & regulationRules & requirementsLiquidity riskPrudential risks
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2025-05-23•Belize•Central Bank of Belize
The Central Bank of Belize reported on the 64th Bi-Annual Meeting of CARICOM Central Bank Governors, highlighting agreements with the World Bank and IFC on a regional green taxonomy and adopting the CARICOM Payment and Settlement System (CAPSS) for instant cross-border payments. Discussions covered global trade policy impacts, regional economic risks, banking supervision, cybersecurity, fintech, and a centralized e-KYC system. Governors also discussed a proposed USD 200 million regional bond for climate-resilient infrastructure, with further CAPSS testing and a finalized bond position paper planned for the CARICOM Heads of Government meeting in July 2025.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-23•New Zealand•Department of Internal Affairs
The New Zealand Department of Internal Affairs has issued guidance for online marketplaces on complying with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, effective 1 June 2025. AML/CFT requirements apply when marketplaces handle sales funds, but not for direct buyer-to-seller payments. A partial exemption exists until transactions exceed NZD 10,000 annually, after which full obligations, including due diligence and monitoring, are required. Suspicious activity reporting is mandatory regardless of transaction value.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-23•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority and the Australian Securities and Investments Commission released public notes from the Superannuation CEO Roundtables held in April 2025. The events, attended by 15 superannuation trustee CEOs and other executives, are documented on the APRA website.
Policy & regulationCooperationOther
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2025-05-23•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 amended the Administrative Offences Code to enhance administrative liability for microfinance organisations. Key changes include fines for incorrect or missing microcredit interest rate disclosures and late registration notifications. The amendments to Article 211 took effect on 13 March 2025.
Policy & regulationRules & requirementsOther
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2025-05-23•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, in collaboration with Al-Farabi Kazakh National University and Fingramota.kz, released a textbook titled “Financial Literacy for Everyone: Practical Course.” Aimed at university teaching and self-study, it covers personal finance topics including budgeting, lending, investing, insurance, and cybersecurity.
Financial literacy & educationFinancial literacy and education
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2025-05-23•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen linked to Shanghai Commercial Bank Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams