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2025-05-21•Global•Bank for International Settlements
The Basel Committee on Banking Supervision prioritized full and consistent Basel III implementation and initiatives to enhance supervisory effectiveness post-2023 banking turmoil. Key areas include third-party risk management, Pillar 3, and climate-related financial risk disclosures. The Committee is exploring digitalisation for better disclosure accessibility and assessing the Basel Framework's performance during recent disruptions.
Policy & regulationReform agendas & prioritiesSupervision process and methodologiesPrudential risks
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2025-05-21•India•Reserve Bank of India
The Reserve Bank of India has withdrawn its Master Circular on Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM) and related circulars for scheduled commercial and small finance banks, following the scheme's conclusion. This withdrawal, effective 1 October 2024, includes the 5 April 2021 master circular and seven earlier circulars from 2014 to 2019. Banks are no longer required to submit returns under these circulars.
Policy & regulationRules & requirementsOther
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2025-05-21•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland appointed Courtney Falato as senior vice president of external engagement, effective June 23. Falato will oversee external communications, education outreach, and community development in the Fourth Federal Reserve District. She previously held leadership roles at JPMorgan Chase and the Ohio State University.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-21•Qatar•Qatar Central Bank
Qatar Central Bank Governor Sheikh Bandar bin Saoud Al Thani met with Goldman Sachs Global Head of Asset and Wealth Management Marc Nachmann during the Qatar Economic Forum 2025 to discuss global finance and investment developments.
Other
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2025-05-21•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait, via its Wolooj Innovation Hub, has developed a new technology for generating cryptographic keys to enhance data protection and information security, utilizing complex data sources to produce stronger encryption keys. This system, created by the bank's staff, is registered as intellectual property.
Institutional developmentTechnology & data transformationArtificial intelligenceData protection
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2025-05-21•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority released a summary of its 2024 inspection cycle on compliance with the Liechtenstein Anti-Money Laundering Act. The inspections, covering banking, life insurance, asset management, fund, and fiduciary sectors, assessed due diligence measures and included examples of good and bad practices. Feedback focused on structural and procedural organization, risk monitoring, suspicious activity reporting, and sanctions compliance.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-05-21•Jordan•Central Bank of Jordan
The Central Bank of Jordan has partnered with Aqaba Digital Hub to launch the Kingdom's first locally hosted integrated cloud cybersecurity services platform and designated Aqaba Digital City's data center as the disaster recovery site for business continuity. This initiative, part of the Central Bank's Jo-FinCERT efforts, aims to enhance cybersecurity for financial institutions and ensure data protection and service continuity.
Policy & regulationImplementation, projects & pilotsCyber resilience
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2025-05-21•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) outlined guidelines and proposals from its Working Group on the National Policy for Access to Insurance, aiming to expand insurance access in Brazil. The report calls for a comprehensive diagnosis to enhance insurance uptake and establishes a dialogue among market participants to support broader access.
Policy & regulationReform agendas & prioritiesOther
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2025-05-21•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the Fundação Getulio Vargas seminar, emphasizing regulatory engagement on climate-related risks due to increasing extreme events. Superintendent Alessandro Octaviani highlighted the "Insurance and Ecological Transformation" Working Group's role in aligning SUSEP's efforts with the Federal Government's Ecological Transformation Plan. SUSEP's 2025 Regulatory Plan prioritizes flood and inundation coverage, aiming to expand market penetration in Brazil.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-05-21•Europe•European Central Bank
The European Central Bank's Financial Stability Review notes limited financial stability risks from the crypto-asset upswing but warns of potential contagion due to increased interconnectedness with traditional finance and household participation. Despite the EU's stringent Markets in Crypto-Assets Regulation, global regulatory fragmentation risks arbitrage and cross-border contagion, underscoring the need for adherence to the G20 crypto-asset roadmap and international standards.
ResearchFinancial stability and systemic riskMarket risk and volatility
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2025-05-21•Europe•European Central Bank
The European Central Bank's Financial Stability Review warns that EU population ageing could elevate financial stability risks by weakening productivity, altering savings and investment patterns, and creating systemic vulnerabilities. Key pressures include rising pension and healthcare costs, labour scarcity, and potential shifts in investor preferences affecting equity valuations and corporate funding. The review suggests reforms to enhance productivity, pension sustainability, and market-based retirement saving to mitigate these risks.
ResearchFinancial stability and systemic riskMarket development
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2025-05-21•Europe•European Central Bank
The European Central Bank's Financial Stability Review highlights the threat of state-sponsored cyberattacks to financial stability amid rising geopolitical tensions. It notes a significant increase in cyberattacks over the past decade, targeting critical infrastructures and financial services. It emphasizes the need for authorities and financial institutions to monitor evolving threats and collaborate on resilience and mitigation efforts.
ResearchCyber resilienceGeopolitical risk
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2025-05-21•Europe•European Central Bank
The European Central Bank's May 2025 Financial Stability Review notes that euro area banks' ability to attract stable deposits supports profitability and mitigates interest rate risk. Higher market concentration and cost efficiency correlate with increased deposit franchise values, improved as long-term interest rates exceed 1.8%. However, weak market valuations can impede capital raising and credit provision, and increased competition or household financial market participation could pressure franchise values.
Research
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2025-05-21•Europe•European Central Bank
The European Central Bank's May 2025 Financial Stability Review highlights the euro area's resilience amid geopolitical and policy uncertainty from US tariff announcements, identifying vulnerabilities in asset valuations, credit risks, and sovereign pressures. It calls for a macroprudential response to non-bank vulnerabilities, including liquidity mismatch measures and enhanced EU-wide supervisory coordination. It also notes the postponement of the EU application date for the Fundamental Review of the Trading Book to 2026 and potential adjustments to EU market risk rules.
Research
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2025-05-21•Europe•European Central Bank
The European Central Bank's Financial Stability Review notes a decline in non-banks' liquid asset holdings, particularly in cash equivalents and high-quality liquid assets (HQLA) Level 1. This trend, due to valuation changes and shifts towards non-HQLA assets, raises concerns about non-banks' ability to meet margin calls or redemptions under stress, possibly leading to the sale of illiquid assets on unfavourable terms. The ECB warns that aggregate HQLA may overstate usable liquidity in stress scenarios, requiring further monitoring of potential contagion channels between non-bank sectors.
ResearchLiquidity riskFinancial stability and systemic risk
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2025-05-21•Europe•European Central Bank
The European Central Bank's May 2025 Financial Stability Review highlights increased market volatility and downside risks to economic growth due to global trade policy uncertainty and geopolitical shifts. It identifies vulnerabilities in the non-bank sector from stretched asset valuations and low liquidity buffers, and warns of higher credit risks for euro area banks amid escalating trade tensions. The review urges macroprudential authorities to uphold capital buffer requirements and borrower-based measures, and advocates for policies to bolster non-bank financial resilience and euro area capital markets integration.
Research
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2025-05-21•Europe•European Central Bank
The European Central Bank's Working Paper examines how euro area commercial real estate investors price climate-related risks, finding a growing price penalty for physical risks and reduced liquidity for older buildings due to transition risks. Covering transactions from 2007 to 2023, it reveals a 24 percentage point increase in the penalty for high physical risk areas and an 18 percentage point premium for newer, energy-efficient buildings. The paper underscores the need for macroprudential tools to enhance resilience to climate risks and addresses data gaps in building energy efficiency.
ResearchClimate risk and sustainable finance
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2025-05-21•Europe•European Central Bank
The European Central Bank's Financial Stability Review notes digital-only banks' market share rising to 3.9% of total assets in 2024. It identifies potential risks, including concentrated funding in small retail deposits, high liquidity buffers, and lower profitability compared to traditional banks. The ECB warns that further expansion could intensify competition and create risks if traditional banks face higher funding costs or cross-border spillovers occur due to digitally mobile depositors.
ResearchFintech and insurtech
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2025-05-21•Europe•European Central Bank
ECB Executive Board member Philip R. Lane discussed negative interest rate policy's (NIRP) impact on banks, emphasizing bank heterogeneity and the zero rate's role for retail deposits. Lane noted that high-deposit banks may face challenges under NIRP, but macroeconomic dynamics like increased credit volumes and higher asset values are reinforced. The discussion also covered NIRP's interaction with unconventional measures, including forward guidance and quantitative easing.
ResearchMonetary policy decisions and developments
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2025-05-21•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, led by Governor Jasmina Selimovic, met with EU Ambassadors to discuss the country's economic outlook and SEPA accession. The discussions highlighted revised growth projections, SEPA's benefits, and necessary legislative changes. Emphasis was placed on safeguarding the central bank's independence and the currency board's integrity to preserve financial stability.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-05-21•Spain•Bank of Spain
The Bank of Spain is seeking a new Director General of Economy, detailing the role's responsibilities and candidate qualifications. The position involves economic monitoring, policy advising, and representing the Bank in various fora, with a focus on euro area monetary policy. Candidates need 20 years of experience, including 10 in managerial roles, and fluency in Spanish.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-05-21•Iraq•Central Bank of Iraq
The Central Bank of Iraq announced climate-related financing initiatives, including an IQD 1 trillion program for renewable energy and carbon emission reduction, in collaboration with the Supreme Committee for Lending and the World Bank. It introduced specialized banking licenses for green project finance, naming Riyada Bank and the Green Bank, and detailed funding for projects like brick factory rehabilitation and waste recycling.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-21•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Supervisory Board of the Central Bank of Curaçao and Sint Maarten confirmed ongoing discussions that may lead to Executive Director Dr. José Jardim leaving to join a financial institution. The Board emphasized that claims of his departure are premature and rejected other media report content.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-21•Global•IOSCO
IOSCO urged online platforms to mitigate retail investor harm from investment fraud via ads and user content. It emphasized growing risks due to increased retail participation and digital distribution, advocating actions aligned with local laws to protect market integrity. The IOSCO I-SCAN was highlighted as a key tool for identifying and blocking illegal financial activities.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-05-21•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) has issued a framework to enable co-investment by existing schemes at GIFT IFSC, aligning with the Fund Management Regulations, 2025. This framework allows venture capital and restricted schemes to establish Special Purpose Vehicle-based "special schemes" for expedited investments. These schemes can invest before notifying IFSCA, with a term sheet submission required within 45 days post-investment.
Policy & regulationGuidance & interpretationOther
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2025-05-21•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission’s Technology and Digital Transformation Department is seeking price quotations for upgrading its fee and charge management software. Submissions are due by 31 May 2025.
Institutional developmentProcurementOutsourcing and third-party risk management
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2025-05-21•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission is seeking price quotations from qualified providers to assist in preparing an investment policy proposal report for a new IT system for securities market management and supervision.
Institutional developmentProcurementOther
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2025-05-21•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission’s Technology and Digital Transformation Department is seeking price quotations for cybersecurity management, monitoring, and incident response services, as well as IT infrastructure support for 2026–2029.
Institutional developmentProcurementOutsourcing and third-party risk management
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2025-05-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Joint Circular Letter CVM/SSE/SNC 2/2025 to clarify income distribution policies for Investment Funds in Agribusiness Production Chains (FIAGRO). FIAGRO cannot distribute income if the accumulated result is negative, and any excess distribution must be recognized as a return of invested capital. Provisions on investments or receivables must be included in the distributable-profit calculation, reducing the amount available for distribution.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-05-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released the second edition of its TOP Investment Analysis book with the Association of Analysts and Investment Professionals in Brazil. Aimed at long-term investors, it covers capital markets' evolution, investment analysis methodologies, and ESG integration, and is available for free via the Investor Portal. It is also linked to the TOP Teacher Training Programme, with registrations open for 2025.
Financial literacy & educationFinancial literacy and education
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2025-05-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) rejected a settlement proposal with XP Investimentos and Invest Smart, citing serious conduct and inadequate amounts. Allegations include misleading public presentation and unauthorized activities by an autonomous investment agent office. Meanwhile, CVM approved a BRL 1,881,000 settlement with KPMG Auditores and Anderson Luiz de Menezes for non-compliance with audit standards in the Luggo Fundo de Investimento Imobiliário case.
EnforcementInvestigations & enforcement actionsAuditing
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2025-05-21•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission reported a rise in insurance penetration to 1.89% and density to PHP 1,094.94 per capita in Q1 2025, driven by premium growth surpassing GDP and population growth. Total premiums for life and non-life insurers and mutual benefit associations increased 14.41% to PHP 124.17 billion, while net income rose 7.09% to PHP 15.30 billion. The life sector saw a 13.96% increase in total premium income, and non-life net premiums written grew 19.35%, with motor car and fire insurance leading.
Data & statistics
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2025-05-21•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia announced that the Federal Court dismissed Dato’ Raymond Yap Wee Hin’s appeal, upholding previous rulings that found him liable for insider trading in Patimas Computers Berhad shares. The High Court's orders for disgorgement of RM3.28 million, a RM1 million civil penalty, and a five-year director disqualification remain in effect. Yap must also pay RM30,000 in costs to the Securities Commission.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-21•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan's Q1 2025 survey shows unchanged credit standards for business and mortgage lending, with tightened standards for consumer loans. Demand remained stable for business and consumer credit, while mortgage demand increased. Banks foresee continued tightening of consumer credit standards and increased business lending demand in Q2, alongside rising term deposits and funding costs due to interbank competition.
Data & statisticsLending
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2025-05-21•Albania•Albania Financial Services Authority
The Albania Financial Services Authority adopted licensing and governance decisions affecting private pension funds, collective investment, and insurance sectors. Key approvals include suitability confirmations for pension fund managers and depositary activities, and the expansion of Banka Credins' depositary license to alternative investment funds. Governance reappointments were also approved for SiCRED, Raiffeisen INVEST, and ALL-SIG Broker.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-21•Solomon Islands•Central Bank of the Solomon Islands
The Central Bank of the Solomon Islands has introduced its Cyber Security Strategy 2025, outlining a three-year plan to enhance IT infrastructure security and bolster cyber resilience in the financial system, focusing on governance, risk management, capacity building, and collaboration. The strategy includes staff training, IT enhancements, secure governance, incident response processes, and new cybersecurity standards for financial institutions.
Policy & regulationReform agendas & prioritiesCyber resilience
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2025-05-21•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation and Finternet Lab signed a Memorandum of Understanding to develop secure, interoperable digital infrastructure by integrating verifiable Legal Entity Identifier credentials with open-source tools, focusing on digital identity, data provenance, and ecosystem interoperability.
Policy & regulationCooperationDigital identity
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2025-05-21•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC received two Global Good Governance awards from Cambridge International Finance Advisory, marking its fifth consecutive recognition. The awards highlight the SEC's advocacy in corporate governance and ESG practices, linked to initiatives like mandatory sustainability reports and digital company registration. The SEC plans to extend sustainability reporting requirements to large capital listed entities by 2026.
OtherCorporate governanceESG
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2025-05-21•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC has revoked the registration and authority of People’s Credit and Finance Corporation for non-compliance with reportorial requirements. This follows a recommendation from the Office of the President to abolish the delinquent company, which had not begun winding down operations or settling liabilities.
SupervisionAuthorisations & approvalsCompliance
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2025-05-21•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) is forming a Technical Advisory Committee (TAC) to enhance its Fraud & Abuse Strategy on auto insurance fraud. The TAC will offer technical expertise and strategic advice to improve fraud detection, prevention, and deterrence, with a mandate completion expected by 31 December 2026. FSRA seeks senior leaders with expertise in claims, underwriting, fraud investigation, financial crime, and fraud data analytics.
Policy & regulationImplementation, projects & pilotsFraud and scams
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2025-05-21•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a warning regarding the website https://stuartwinston.com/, which falsely claims to be licensed by the FSA as a Seychelles-based securities dealer. The FSA confirmed that "Stuart Winston" is not authorized to conduct securities business in Seychelles and advised the public to exercise caution and conduct thorough research before engaging with such entities.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-05-21•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a warning about "Bulllivestream," which falsely claims FSA licensing under licence number SD018. The FSA clarified that this licence belongs to a different, legitimate entity and urged caution in dealings with the website. The Authority emphasized the importance of verifying entities before engaging in business or sharing personal information.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-05-21•Global•IOSCO
IOSCO released a Sustainable Bonds Report highlighting key trends and challenges in the sustainable bond market, with 2024 issuance reaching USD 1.1 trillion. The report recommends clearer regulatory frameworks, consistent categorisation, enhanced transparency, use of independent reviewers, and educational initiatives. It draws on research, a member survey, and discussions with the OECD.
Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
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2025-05-21•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo participated in the Kosovo Finance Forum 2025, focusing on financial stability, regional cooperation, and technological innovation. Governor Ahmet Ismaili emphasized the need for structural reforms to address challenges like geopolitical uncertainty and inflation, highlighting a stable banking system and ongoing digitalisation efforts. A regional panel, moderated by the International Monetary Fund, discussed macroeconomic resilience and inter-institutional coordination with officials from neighboring central banks.
Policy & regulationCooperationFinancial stability and systemic riskDomestic cooperation
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2025-05-21•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation has partnered with Finternet Lab to develop secure, interoperable digital infrastructure by integrating verifiable Legal Entity Identifier credentials with open-source tools, focusing on digital identity and interoperability challenges. The collaboration will involve pilots, hackathons, and developing standards and governance models for real-world use cases in finance, sustainability, and supply chains.
Policy & regulationCooperationDigital identity
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2025-05-21•Sweden•Finansinspektionen
Sweden's Finansinspektionen reported a slight decline in total fraud via payment services to SEK 806 million in H2 2024, down from SEK 899 million in H1 2024. However, fraud involving consumer manipulation increased to SEK 554 million. The semiannual statistics are based on data from payment service providers and may be revised for reporting errors.
Data & statisticsFraud and scams
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2025-05-21•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation and Finternet Lab signed a Memorandum of Understanding to develop secure, interoperable digital infrastructure by integrating verifiable Legal Entity Identifier credentials with open-source digital tools, focusing on digital identity, data provenance, and ecosystem interoperability.
Policy & regulationCooperationDigital identity
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2025-05-21•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) will contact numerous financial entities to address reporting deficiencies in the DORA register, in collaboration with the European Banking Authority. Technical checks revealed errors, prompting firms to correct and resubmit reports. Finansinspektionen provided a Q&A and EBA resources to assist with common error codes.
SupervisionRegulatory reporting
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2025-05-21•Iceland•Central Bank of Iceland
The Central Bank of Iceland announced the schedule for its Monetary Policy Committee statement and Monetary Bulletin, with the statement released at 08:30 and the Bulletin at 08:35, followed by a webcast press conference at 09:30.
Monetary policyOtherMonetary policy decisions and developments
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2025-05-21•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Monetary Policy Committee reduced the key interest rate on seven-day term deposits by 0.25 percentage points to 7.50%, with unanimous support. Future rate cuts depend on inflation nearing the 2.5% target, amid a backdrop of uncertain global economic conditions and resilient domestic activity.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-05-21•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Monetary Policy Committee reduced the key interest rate by 0.25 percentage points to 7.50%, citing a weaker economic outlook amid global uncertainty and projecting inflation to reach target by early 2027. The updated forecast anticipates slower GDP growth for Iceland and its trading partners in 2025, influenced by the US trade war, with inflation expected to moderate but remain above target in the near term.
Monetary policyPolicy rate decisionsMonetary policy decisions and developmentsMonetary policy operations
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2025-05-21•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services, led by Chairman French Hill, outlined reconciliation provisions in President Trump's "One Big, Beautiful Bill," projected to reduce the deficit by USD 5.2 billion over 2025–2034. Key measures include rescinding unobligated balances from the Department of Housing and Urban Development’s Green and Resilient Retrofit Program, capping the Consumer Financial Protection Bureau’s funding, and transferring unused balances to the Treasury. The proposal has been forwarded to the House Rules Committee for further consideration.
Policy & regulationRules & requirementsOther
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2025-05-21•Russia•Central Bank of Russia
The Central Bank of Russia confirmed digital ruble transactions will undergo AML monitoring, managed by commercial banks or the Central Bank, based on transaction methods. Banks will handle customer identification and AML functions, while payments will be made through mobile banking apps. The Central Bank is expanding pilot participants and transaction types, with a full-scale launch announcement forthcoming.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-21•Canada•Payments Canada
Payments Canada's 2024 Annual Report highlights record transaction values and advancements in the Real-Time Rail (RTR) system for 24/7/365 payment processing. It covers public consultations on bill payment processing improvements and resilience-focused amendments to the Automated Clearing Settlement System (ACSS) and Lynx. Changes to the Canadian Payments Act will expand membership eligibility to include certain payment service providers and credit union locals.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's workshop on sustainability reporting and AI in banking emphasized AI's role in overcoming ESG data challenges. A survey of over 200 Vietnamese firms revealed significant gaps in ESG indicator identification and reporting knowledge. The discussion contrasted manual reporting difficulties with AI-enabled systems that automate data collection and align with international frameworks like the Global Reporting Initiative and the International Sustainability Standards Board.
Financial literacy & educationArtificial intelligenceAccounting and financial reporting
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2025-05-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a policy roundtable to advance the banking sector's action plan for Vietnam's National Green Growth Strategy 2021–2030 and released a handbook on Environmental and Social Risk Management for credit activities, developed with the International Finance Corporation. As of March 2025, 58 credit institutions had green loan balances, with average green credit growth exceeding 21% annually from 2017 to 2024. Challenges include uneven adoption, reporting gaps, lack of a legal framework for a green taxonomy, and constraints in mobilizing resources and assessing risks.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-05-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam emphasized AI's role in enhancing sustainability reporting in banking, highlighting its potential to improve ESG data collection and governance. The bank referenced action plans aligning with the UN 2030 Agenda and national green growth strategies, noting increased market adoption of sustainability reporting. By Q1 2025, green lending by 58 credit institutions reached over VND 704.244 trillion, with significant investments in renewable energy and green agriculture.
Policy & regulationReform agendas & prioritiesESGArtificial intelligence
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2025-05-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam prioritized sustainability reporting in banking, urging banks to integrate sustainable development and disclose "green" commitments. In 2024, 33 organizations published standalone sustainability reports, with green credit reaching over VND 704,244bn by Q1 2025. Challenges include high reporting costs and the lack of a legal framework for green investments, with priorities on developing a national green taxonomy and enhancing international cooperation.
Policy & regulationGuidance & interpretationAccounting and financial reportingArtificial intelligenceESG
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2025-05-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted a roundtable on sustainability reporting in banking, emphasizing AI's role in enhancing reporting processes. ACCA's Mike Suffield highlighted AI's integration in finance, including machine learning and natural language processing, while cautioning about generative AI risks and resource intensity. He noted the need for robust data flows and infrastructure to effectively deploy AI in sustainability reporting.
Policy & regulationGuidance & interpretationArtificial intelligenceAccounting and financial reporting
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2025-05-21•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority emphasized pension funds' resilience through strong capital, liquidity, and governance. It noted ongoing regulatory developments, including a new Financial Supervisory Act and Solvency II Directive revisions. Despite a 178% solvency capital coverage as of December 2024, stress scenarios indicate potential deterioration, with up to 35 funds possibly falling below 140% coverage under severe conditions.
SupervisionRisk monitoring & watch pointsPrudential risksFinancial stability and systemic risk
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2025-05-21•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released its annual report on alternative investment funds, noting a rise in assets under management to NOK 381.7 billion by end-2024, an increase of NOK 70 billion from the previous year. Real estate funds and funds-of-funds were the largest categories, with NOK 105 billion and NOK 100 billion, respectively. The report excludes managers and funds registered or authorised in the fourth quarter.
Data & statisticsOther
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2025-05-21•Albania•Bank of Albania
The Bank of Albania announced the Resolution Fund increased by ALL 1.04 billion in April 2025, reaching a total of ALL 6.870 billion. Established in 2018, the fund aims to reach 0.5% of the banking system’s total liabilities by 2027, with a target of ALL 8.9 billion. Managed by the Deposit Insurance Agency, the fund supports resolution instruments such as guarantees and liquidity support.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-05-21•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets alerted about a fraud conviction tied to an unauthorized capital market scheme. The scheme operated outside the Moldova Stock Exchange, using unauthorized trading platforms, posing significant investor risks. It advised verifying investment service providers' legal status through its register and warned against entities lacking clear, verifiable information.
SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
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2025-05-21•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Market Participants Division and Division of Market Oversight issued an interpretative letter clarifying cross-border definitions for a proprietary trading firm organized abroad. The firm is confirmed as outside the U.S. for specific regulatory definitions, including not being a "U.S. person" under Commission regulation 23.23(a) and related guidance. This clarification followed a request from the firm.
Policy & regulationGuidance & interpretationCross-border payments
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2025-05-21•Canada•British Columbia Securities Commission
The British Columbia Securities Commission ordered Michael Duane Onstad and LOC Consultants Inc. to pay CAD 100,000 in penalties and imposed four-year investment market bans for unregistered solicitation and referral of investors. Between 2018 and 2021, they referred 33 investors who bought CAD 7.6 million in shares, earning CAD 240,000 in fees. The panel found no investor harm and did not order disgorgement, noting the respondents' non-participation in proceedings.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-21•Canada•British Columbia Securities Commission
The British Columbia Securities Commission imposed a CAD 50,000 penalty on Ahmad Doroudian, CEO of BetterLife Pharma Inc., for failing to file timely insider trading reports. Doroudian executed 624 transactions involving over 5 million shares, violating the five-day reporting requirement on the System for Electronic Disclosure by Insiders. Additionally, he has unpaid late fees totaling CAD 23,050 from previous infractions.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-05-21•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission, with seven other central bodies, introduced 23 measures to boost financing for small and micro enterprises and individual business owners. Key initiatives focus on expanding credit supply, reducing financing costs, and improving risk management, emphasizing technology and innovation-oriented SMEs. The package includes supervisory evaluations, due diligence exemptions, and pilot increases for write-offs of unsecured business-purpose credit loans.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-05-21•China•China Banking and Insurance Regulatory Commission
Li Yunze, Director of China's National Financial Regulatory Administration, met with former US Treasury Secretary Timothy F. Geithner to discuss the international economic and financial situation. The meeting also covered prospects for China's economic and financial development and financial sector opening-up.
Policy & regulationCooperationCross-border cooperation
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2025-05-21•Nepal•Central Bank of Nepal
The Central Bank of Nepal's Financial Information Unit reported a 57% increase in suspicious transaction reports in 2081, rising to 9,907 from 6,299 in 2080. FIU-Nepal analysed 1,854 reports, forwarding 1,526 for further investigation, while threshold transaction reporting increased to 1,849,599 transactions. The newsletter also highlights capacity-building activities, coordination efforts, and contributions from the Money Laundering Investigation Department.
Data & statisticsActivity and performance reporting
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2025-05-21•Nepal•Central Bank of Nepal
Nepal Rastra Bank announced the appointment of Dr Biswo Poudel as its 18th Governor, following a decision by the Government of Nepal’s Council of Ministers. Dr Poudel, who took the oath of office before the Chief Justice, previously served as Vice-Chairman of the National Planning Commission and senior economic adviser at the Ministry of Finance.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-21•Switzerland•Federal Department of Finance (Switzerland)
Switzerland’s Federal Department of Finance has initiated a consultation on proposed amendments to the Insurance Oversight Act and Ordinance to enhance reinsurance competitiveness. Key changes include exempting reinsurance contract intermediaries from registration and FINMA supervision, as reinsurance transactions occur between insurance companies without end-client involvement. Additional technical amendments are also proposed.
Policy & regulationRules & requirements
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova released updated statistics and methodological notes on its foreign exchange market activities, highlighting a focus on FX swaps rather than spot interventions. The report shows zero spot purchases and sales, with FX swap purchases of USD totaling EUR 4,866.9 thousand and no swap sales. No forward operations were conducted, and transactions are reported using monthly average exchange rates.
Data & statisticsCurrency and cash management
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova reported that in April 2025, individuals’ net foreign currency supply covered 91.8% of economic agents’ demand, up from 88.6% in March, with no central bank interventions. Individuals’ net supply rose to EUR 280.3 million, a 30.4% increase from March, while sales to legal entities increased by 25.8% to EUR 305.2 million. The leu’s average exchange rate against the euro rose by 0.2% to 19.5394 MDL per EUR.
Data & statisticsBalance of payments and other external statistics
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova released April 2025 statistics for the domestic cash foreign exchange market, showing a total turnover of EUR 400.2 million. The euro dominated with EUR 308.3 million, accounting for 77% of total turnover, while US dollar transactions comprised 14%. Compared to the previous month, total turnover rose 14%, driven by a 20.6% increase in purchases and a 7.5% decline in sales.
Data & statisticsCurrency and cash management
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2025-05-21•Moldova•National Bank of Moldova
Governor Anca Dragu of the National Bank of Moldova highlighted Moldova's European integration and accession to the Single Euro Payments Area (SEPA) at the Bucharest Leaders’ Summit. She noted that most Moldovan banks are now technically interconnected to SEPA, enhancing euro payment efficiency. Dragu also emphasized the central bank's commitment to a modern financial ecosystem and introduced FinanciarELE, a program supporting women in finance.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova released its April 2025 data on licensed banks' foreign currency assets and liabilities, and the banking system's open foreign exchange positions. Total foreign currency assets were MDL 50.81 billion, and liabilities were MDL 50.37 billion. The aggregate long open FX positions were MDL 543.39 million, primarily in EUR and USD, with a long EUR position ratio of 1.96% and a short USD position ratio of -0.33%.
Data & statisticsBalance of payments and other external statistics
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova announced Governor Anca Dragu received a leadership award for her role in integrating Moldova into the Single Euro Payments Area (SEPA). This allows Moldovan citizens and companies to make euro transfers with improved speed, security, and cost efficiency. Dragu highlighted the banking sector's stability and digital transformation, including instant payments, as part of Moldova's alignment with European standards.
Other
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2025-05-21•Moldova•National Bank of Moldova
The National Bank of Moldova released monthly statistics on the non-cash foreign exchange market, detailing interbank and intrabank SPOT transactions in euro equivalent. Interbank SPOT turnover reached EUR 20,856.1 thousand in purchases and EUR 25,855.2 thousand in sales, while intrabank turnover was EUR 373,784.06 thousand in purchases and EUR 635,381.5 thousand in sales. No SWAP transactions were recorded, and FORWARD activity was limited to EUR 1,243.2 thousand in intrabank sales.
Data & statisticsCurrency and cash management
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2025-05-21•India•Securities & Exchange Board of India
SEBI warned investors about securities market scams on social media, where fraudsters lure individuals into deceptive WhatsApp groups. Tactics include fake profiles, impersonation of SEBI-registered intermediaries, and fabricated testimonials. Investors should verify entities' SEBI registration and use authentic channels.
SupervisionAlertsFraud and scams
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2025-05-21•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance outlined a trilateral cooperation model between Korea, the Global Green Growth Institute and the Green Climate Fund to align Korean climate technology and development experience with GGGI projects and GCF financing. Second Vice Minister Huh Jang highlighted the Global Voluntary Carbon Market, noting that converting GCF mitigation outcomes into carbon credits could generate new revenue for emissions reduction, development finance and the Korea Green Transformation agenda. The ministry will continue exploring ways to deepen cooperation with GCF and GGGI.
Policy & regulationCooperationClimate risk and sustainable financeGreen taxonomyMarket development
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2025-05-21•United Arab Emirates•Central Bank of the UAE
The UAE Central Bank hosted its inaugural National Financial Inclusion and Literacy Policy Forum in Abu Dhabi, launching a National Financial Inclusion Strategy and a National Financial Literacy Strategy. In collaboration with the World Bank, these strategies aim to enhance financial access and awareness through targeted initiatives, focusing on digitalisation and technological solutions. Development will involve input from government, private sector, and community stakeholders.
Policy & regulationReform agendas & prioritiesFinancial inclusionFinancial literacy and education
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2025-05-21•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
The Ministry of Finance of Trinidad and Tobago has extended the Tax and National Insurance Amnesty to 2 August 2025, allowing eligible taxpayers and employers to settle arrears with waived penalties and interest. The amnesty covers taxes up to 31 December 2023 and applies to employers registered with the National Insurance Board before 1 October 2024. If arrears are not settled during the amnesty, waived penalties and interest will be reinstated.
Policy & regulationRules & requirementsOther
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2025-05-21•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendence of Banking, Insurance and Private Pension Fund Administrators of Peru has authorized Financiera Efectiva S.A. to convert its license to a banking license and operate as Banco Efectiva, enabling an expanded scope focused on retail lending and deposit products. The decision follows an assessment of its business model, governance and prudential compliance, with the firm reporting a loan portfolio above PEN 1.3 billion and more than 260,000 customers.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-20•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic's governor, Héctor Valdez Albizu, met with the Dominican Chamber of Capital Markets (CADOMCA) to discuss the capital market's role in financing and economic development. CADOMCA reported RD$2.91 trillion (USD 48.0 billion) in assets under management at end-2024 and expressed readiness to structure long-term solutions. Valdez Albizu highlighted public-private partnership models and shared economic growth data, noting 5.0% growth in 2024 and projected growth of 4.0% to 4.5% as uncertainties decrease.
Policy & regulationCooperationMarket development
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2025-05-20•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Investment Funds Statistics for March 2025, noting a decrease in the number of investment funds to 336 from 338 in December 2024. Total assets increased by 2.3% to EUR 7,538.7 million. The data are part of the May 2025 Investment Vehicle Statistics.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority approved ACWA POWER Company's SAR 7,124,999,700 capital increase through a rights issue, limited to shareholders registered at the Security Depository Center after the extraordinary general assembly meeting. The board will determine the meeting date, and the offering price and share number will be set post-meeting. The CMA emphasized its approval is not an investment recommendation but confirms compliance with legal requirements.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-20•Israel•Bank of Israel
The Bank of Israel released an updated compilation of inflation expectations, showing one-year capital market expectations at 1.8%, with forward expectations at 1.8% for the second year, 2.1% for the third year, and 2.3% for years 5–10. The report highlights potential biases in these expectations due to factors like taxation and liquidity, noting that one-year expectations in January 2024 were unusually biased.
Data & statistics
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2025-05-20•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) reported the capital adequacy index (ICAP) for banks as of March 2025, showing an ICAP of 19.90%. The Basic Capital Ratio (CCB) was 17.88%, and the Core Capital Ratio (CCF) was 16.45%.
Data & statisticsCapital adequacy
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2025-05-20•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority released its quarterly Retail Investor Dashboard, noting record retail trading activity in exchange-traded funds (ETFs) and a rise in first-time investors in listed products in Q4 2024. The report highlights a 25% increase in ETF trading by 76,000 Belgian retail investors and over one million equity transactions. Notably, more than 40% of equities traded were North American shares, a five-year high.
Data & statisticsConsumer and investor protection
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2025-05-20•Australia•Australian Securities & Investments Commission
ASIC has cancelled Calaite Capital Partners Pty Ltd's financial services licence after the Compensation Scheme of Last Resort (CSLR) paid AUD 267,235.57 for two unpaid AFCA determinations. The cancellation on 5 May 2025 was mandatory, as CSLR compensation requires it. Since April 2024, ASIC has cancelled seven financial services and four credit licences under this framework.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-20•Ghana•Ministry of Finance (Ghana)
Ghana's Ministry of Finance has inaugurated the Governing Board of the Securities and Exchange Commission (SEC) to restore public trust and strengthen accountability in the capital market. The Finance Minister emphasized the board's mandate on investor protection, transparency, and market soundness, cautioning against taxpayers bearing regulatory failure costs. The board is chaired by Dr. Adu Anane Antwi, with members including Dr. James Klutse Avedzi and Mr. Mensah Thompson Emmanuel.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-20•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority, in collaboration with market participants, launched a nationwide outreach campaign to educate university students on investment opportunities in Rwanda’s capital market. The campaign, initiated at East African University Rwanda, aims to introduce core finance and investment concepts and encourage student participation. It will conclude with a national gathering in Kigali on 20 June 2025.
Financial literacy & educationFinancial literacy and education
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2025-05-20•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced the immediate termination of Chartreuse Agency Limited's Insurance Agent Licence No. AI21000649. This action complies with section 111 of the Insurance Act 2005 and section 28(9) of the Financial Services Act 2007.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-20•Mauritius•Mauritius Financial Services Commission
The Financial Services Commission, Mauritius issued a circular to management companies and licensed non-bank financial institutions about breaches of pre-approval and notification requirements for ownership changes and appointments under the Financial Services Act. It addresses unauthorized share issuances or transfers exceeding 5%, changes in control from transfers below 5%, and failures to notify the FSC. The FSC emphasized adherence to the Code of Business Conduct and warned of potential enforcement actions for non-compliance.
Policy & regulationGuidance & interpretationCorporate governance
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2025-05-20•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority joined the launch of Jubilee Life Insurance’s Akiba Flex Plan, combining savings and life insurance. Deputy Commissioner Khadija Said highlighted its innovation in addressing financial challenges and TIRA's commitment to quality services and timely claims. Jubilee Life Insurance emphasized the product's affordability, savings discipline, and digital convenience for diverse needs.
Other
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2025-05-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued decisions affecting capital market participants, including management appointments, ownership changes, and securities disclosures. It approved measures on digital interaction and governance, such as electronic signatures and personal data processing. Amendments to infrastructure and oversight processes were adopted, including changes to the National Critical Infrastructure Protection System and criteria for designating important enterprises.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-05-20•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets' Financial Stability report cites geopolitical tensions and US developments as key factors in market volatility, affecting growth and inflation. It highlights risks from cybersecurity, AI, liquidity strains, and the housing market, stressing preparedness for adverse scenarios. The report emphasizes digital resilience, European coordination, and the AFM's supervision of the Digital Operational Resilience Act, advocating stronger risk management amid rapid AI adoption.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskGeopolitical risk
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2025-05-20•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported that non-traditional textile exports reached USD 141 million in March 2025, a 12.9% increase year-on-year, with volumes up 11.3% and prices up 1.4%. The rise was attributed to increased cotton apparel exports to the U.S., Colombia, and Germany, and cotton fabrics to Colombia. For Q1, exports totaled USD 422 million, up 16.5% from the previous year, driven by higher volumes and prices.
Data & statisticsBalance of payments and other external statistics
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2025-05-20•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador marked the first anniversary of its Mi Viaje Financiero bus, a financial education initiative using technology to teach digital financial services to over 27,000 students across 14 departments. The program uses virtual reality and other devices to simulate activities like opening savings accounts and making digital payments. The bank plans to continue the initiative with future tours, though specific timelines were not disclosed.
Financial literacy & educationFinancial literacy and education
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2025-05-20•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) is monitoring the Indonesian Competition Commission's investigation into alleged interest-rate cartel activities in the fintech peer-to-peer lending industry. OJK has directed the Indonesian Fintech Lending Association (AFPI) to ensure compliance with interest rate caps set under OJK Regulation No. 40/2024 for consumer protection. OJK will enforce compliance and periodically review these caps based on economic and industry conditions.
Policy & regulationRules & requirementsLending