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2025-05-20•China•Central Bank of the Republic of China
The People's Bank of China, led by Governor Pan Gongsheng, held a symposium to advance monetary and financial measures aligned with Central Committee and State Council policies. The bank emphasized an accommodative monetary policy to support technology innovation, consumption, private businesses, micro and small enterprises, and foreign trade stabilization. The agenda included enhancing policy execution, promoting renminbi internationalization, and ensuring national financial security, with participation from the National Financial Regulatory Administration and major banks.
Monetary policyMonetary policy assessments & outlooks
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2025-05-20•United States•National Association Of Insurance Commissioners
The NAIC report shows 84% of health insurers use AI/ML across product lines, with 92% aligning with NAIC AI Principles. It highlights fraud detection, sales tools, and governance practices. The NAIC's Big Data and AI Working Group seeks stakeholder input on potential model law or regulation for AI oversight and consumer protection.
Policy & regulationReform agendas & prioritiesArtificial intelligence
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2025-05-20•Europe•European Banking Authority
The European Banking Authority's 2024 Annual Report highlights completing over 93% of tasks in its Work Programme and progress on EU Basel III reforms. Key initiatives included guidelines on credit, market, operational, and ESG risks, and financial stability monitoring. Methodological updates to stress testing introduced new elements, including climate risk scenarios, revealing limited transition risk impacts when isolated.
Policy & regulationImplementation, projects & pilotsMandate change
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2025-05-20•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier has revised its email process for communications with undertakings for collective investment, restricting emails to eDesk Portal addresses of designated "Board Members" to enhance data protection. AML/CFT-related communications may also involve the "AML/CFT responsible officer." UCI Directors are reminded to maintain current eDesk user email addresses.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-05-20•Portugal•Bank of Portugal
The Bank of Portugal released updated Q1 2025 balance of payments and international investment position statistics, showing a current and capital account surplus of EUR 829m, down EUR 1.707bn from Q1 2024. The IIP improved to -57.5% of GDP, the least negative since December 2002, with net external debt decreasing to 43.9% of GDP. Changes were driven by a widening goods deficit, increased primary income deficit, and positive financial account balance, offset by valuation gains and exchange-rate effects.
Data & statisticsBalance of payments and other external statistics
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2025-05-20•Laos•Bank of the Lao
The Bank of the Lao's delegation, led by Deputy Governor Sulisak Thammavong, participated in the 2025 Global Finance Forum in Shenzhen, China, focusing on inclusive finance. The delegation also engaged in bilateral discussions with Tsinghua University's PBC School of Finance on potential cooperation and attended a study visit to the Hong Kong Monetary Authority and Bank of China (Hong Kong).
Institutional developmentCooperation & capacity buildingOther
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2025-05-20•Sweden•Riksbank
Sweden's Riksbank released a memo analyzing financial stability risks linked to instant payments via RIX-INST with real-time settlement in central bank money. It outlines risk trade-offs between real-time and deferred net settlements, highlighting liquidity, operational, and cyber risks, and notes increased participation and cross-currency settlement plans. It clarifies that the analysis is not an official policy statement.
ResearchPayments and payment systems
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2025-05-20•Sweden•Riksbank
Sweden's Riksbank released a commentary on financial crisis preparedness in the Nordic-Baltic region, highlighting improved crisis management due to regulatory changes and enhanced cooperation. Key developments include Estonia, Latvia, and Lithuania joining the euro area, strengthening coordination, and measures like crisis simulations and liquidity agreements. Future efforts will focus on operational incidents and further consolidation of banking structures, including SEB's planned merger of its Baltic subsidiaries by 2027.
ResearchFinancial stability and systemic riskGeopolitical risk
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2025-05-20•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators amended regulations for municipal savings and credit banks (CMAC) to align with Law No. 31735 and Supreme Decree No. 011-2024-EF. The amendments expand the use of Public Investment Certificates for tax payments and adjust governance reporting to quarterly updates. Additionally, the maximum investment amount for projects increased by raising the fixed factor from 0.5 to 0.8.
Policy & regulationRules & requirementsLending
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2025-05-20•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS updated Congress on enhancing transaction security and protecting confidential information amid rising cybercrime. New regulations mandate two-factor authentication, transaction notifications, and fraud prevention communications. SBS is developing a cybersecurity strategy with IMF assistance and engaging stakeholders to improve consumer cyber hygiene.
Policy & regulationRules & requirementsCyber resilienceFinancial literacy and education
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2025-05-20•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission hosted a high-level meeting with a delegation from the Lao People's Democratic Republic to exchange updates on financial markets and discuss capital market development strategies. The visit included technical sessions with SFC executives on strategic priorities, supervision of listed companies, sustainable finance, and investor education.
Policy & regulationCooperationDomestic cooperation
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2025-05-20•Costa Rica•Superintendencia General de Seguros de Costa Rica
Costa Rica's National Council for Supervision of the Financial System (CONASSIF) has appointed Hermes Alvarado Salas as superintendent of the Superintendence of Pensions (SUPEN) for a five-year term starting 26 May 2025. The appointment followed an open public selection process, with candidates evaluated on statutory requirements, academic and professional credentials, and experience in the pensions sector.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-20•United States•Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis has appointed Matthew Cybert as assistant vice president of Law Enforcement, leading the Bank’s Law Enforcement Unit. Cybert brings over 25 years of experience from the United States Secret Service, including roles in financial crimes investigations and presidential protection.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-20•France•Bank of France
The Bank of France has launched a consortium to study nature-related risks' impact on the macroeconomy and financial stability, and the feedback loop to natural capital degradation. Collaborating with academic and research institutions, this initiative aims to enhance France's capacity to integrate nature-related impacts into macroeconomic analysis and policy. The research will address domestic and imported risks, leveraging work from the Network for Greening the Financial System.
ResearchNature-related risk
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2025-05-20•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on mandatory civil liability insurance and voluntary motor insurance (CASCO) for vehicle owners. Mandatory insurance covers damage to others, while CASCO covers the insured vehicle per policy terms. It stresses valid CASCO coverage, proper documentation, and timely insurer notification, especially for new or expensive vehicles.
Policy & regulationGuidance & interpretationOther
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2025-05-20•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 Kazakhstan announced measures against credit fraud, including existing protections and proposed amendments. Current rules require suspending interest and debt collection on fraudulent loans during investigations, with write-offs for illegally issued loans. Proposed amendments include a 24-hour cooling-off period for online loans, mandatory in-person visits for first-time borrowers, and enhanced anti-fraud measures with mobile operators and law enforcement.
Policy & regulationRules & requirementsCredit riskSupervision process and methodologies
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2025-05-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Dah Sing Bank, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who have interacted with these fraudulent sites should contact Dah Sing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert following reports from The Bank of East Asia, Limited about fraudulent websites and internet banking login screens. The HKMA emphasized 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.
SupervisionAlertsFraud and scams
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2025-05-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who have interacted with these fraudulent sites are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens associated with Chong Hing Bank Limited. The HKMA emphasized 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 Chong Hing Bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen reported by Fubon Bank (Hong Kong) Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive personal information through these channels. Customers who interacted with the fraudulent site are advised to contact Fubon Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-20•Isle of Man•Isle of Man Financial Services Authority
Titan Insurance Company Limited has surrendered its authorization as an insurer under section 8 of the Insurance Act 2008, effective 20 May 2025, as announced by the Isle of Man Financial Services Authority.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan's Deputy Chair, Daler Murodalizoda, met with World Bank representatives to enhance financial system resilience and transparency under the "Strengthening the financial system in Tajikistan – Phase II" programme. Discussions focused on implementing the National Strategy for Financial Inclusion, including a unified web portal for comparing financial services and developing guidance for data processes and digitalisation.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-05-20•Europe•European Central Bank
The European Central Bank's Working Paper No 3058 examines how monetary policy affects bank credit access for entrepreneurs with varying private wealth. The study reveals that expansionary policy disproportionately benefits lower-wealth business owners by increasing loan approval rates, while tighter policy reduces their credit access, potentially widening wealth disparities. The findings highlight entrepreneurs' wealth as collateral and show stronger effects at less liquid and capitalised banks.
Research
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2025-05-20•Europe•European Central Bank
The European Central Bank's Financial Stability Review examines the impact of rising trade tensions and policy uncertainty on euro area financial stability, highlighting potential economic activity depression and asset-price repricing. A 1 standard deviation increase in trade policy uncertainty could lower real GDP forecasts and increase financial vulnerabilities, significantly impacting bank stock prices, funding spreads, and profitability. The report emphasizes the importance of capital and liquidity buffers, regular risk assessments, and stress testing to mitigate trade-related shocks.
ResearchGeopolitical risk
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2025-05-20•Europe•European Central Bank
The ECB's Working Paper No 3057 finds monetary policy changes have a larger impact on corporate lending rates than macroprudential capital tightening, though the latter's effect grows near regulatory capital constraints. A 0.9 percentage point policy rate rise leads to a 58–60 basis point loan rate increase, compared to 5.8 basis points for a 2.4 percentage point bank capitalisation rise. The study notes monetary policy pass-through weakens near zero rates, and bank capitalisation impact is greater for banks with minimal capital headroom.
ResearchLending
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2025-05-20•Europe•European Central Bank
The European Central Bank reported a €51 billion current account surplus for the euro area in March 2025, up from €41 billion in February. Over the 12 months to March 2025, the surplus increased to €438 billion, or 2.9% of GDP, from €312 billion (2.1%) the previous year. The financial account showed significant net direct and portfolio investments, with the Eurosystem's reserve assets rising to €1,511 billion due to higher gold prices.
Data & statisticsBalance of payments and other external statistics
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2025-05-20•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in a notice to pay a VND 1,000,000 fee for securities practice certificates, as per Ministry of Finance Circular 25/2022/TT-BTC. Payments can be made via bank transfer to SSC accounts or directly at the SSC. Failure to complete the certification process within one year will result in cancellation of the certificate.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-20•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed Mr. Trần Quốc Cường to pay a fee of VND 1,000,000 for reissuing a securities practising certificate, as per Ministry of Finance Circular No. 25/2022/TT-BTC. Payment can be made via bank transfer to VietinBank or Vietcombank, or directly at the Commission. Failure to complete the procedure within one year will result in the cancellation of the reissued certificate.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-05-20•Serbia•Republic of Serbia Securities Commission
The Republic of Serbia Securities Commission released a new Rulebook on the Methodology for Performing Activities under the Law on the Prevention of Money Laundering and Terrorism Financing, effective 9 May 2025. It outlines criteria for reporting entities to classify clients, transactions, and services as high risk, adhering to international standards and Serbia's National Risk Assessment. The rulebook was published in the Official Gazette of Serbia No. 42/2025.
Policy & regulationRules & requirementsAML and CFT
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2025-05-20•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered Lunify Payments Ltda and its partners to halt any public offering of securities intermediation services. CVM's Market and Intermediaries Relations Superintendence found that the firm and individuals were attracting Brazilian clients for securities transactions without authorization.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-05-20•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) ruled on a case involving Bluebenx Tecnologia Financeira S.A. for alleged fraudulent activity and unregistered securities distribution. Proposed penalties include fines totaling BRL 26,530,709.84 for Bluebenx and temporary bans and fines for executives Roberto de Jesus Cardassi and William Tadeu Batista Silva. The session was suspended for further review following a request by Director João Accioly.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-05-20•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission (FSC) will implement the third-stage stressed debt service ratio (DSR) rule from 1 July 2025, increasing the interest-rate stress for household lending. The rule applies an additional 1.50 percentage points stress rate to household loans, with specific provisions for mortgages outside Seoul and those with variable interest rates. The FSC will reassess the stress rate for non-Seoul mortgages at the end of 2025, monitoring household debt growth.
Policy & regulationRules & requirementsStress testing
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2025-05-20•South Korea•South Korea Financial Services Commission
The Korea Financial Intelligence Unit under the South Korea Financial Services Commission released its second-half 2024 survey of 25 registered virtual asset service providers, showing significant market growth. Average daily trading volume increased by KRW 1.3 trillion (22%), and market capitalization rose by KRW 51.2 trillion (91%). However, the coin-only exchange segment saw declines in trading volume, market capitalization, and operating profits due to concentration in KRW-based exchanges and the closure of some operators.
Data & statisticsFinancial and market indicators
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2025-05-20•Serbia•National Bank of Serbia
The National Bank of Serbia's Inflation Expectations Survey shows a slight decrease in short-term inflation expectations in the financial sector from 4.0% in March to 3.9% in April, aligning with the Bank's target. The economy's one-year-ahead inflation expectations remained steady at 5.0% for the fifth month. Supporting indicators reveal a modest easing, with financial sector expectations in Bloomberg and Ninamedia surveys showing slight declines across various time horizons.
Data & statisticsEconomic data and developments
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2025-05-20•Serbia•National Bank of Serbia
The National Bank of Serbia announced the first Discover card transaction in Serbia, marking the start of Discover card acceptance with Discover and Postal Savings Bank. This follows a strategic agreement with Discover and involves the national payment card scheme, DinaCard, allowing Serbian banks to issue DinaCard cards for international use. Postal Savings Bank is the first in Serbia to enable Discover card acceptance in its merchant network.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-05-20•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay held its eighth Economic and Financial Education Fair under the BCP Educa program for 423 secondary school students. The event covered personal finance, the central bank’s functions, banknote security and payment methods, and included talks from supervisory authorities and the deposit guarantee fund unit.
Financial literacy & educationFinancial literacy and education
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2025-05-20•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has added seven individuals and entities to its sanctions list under the UK Global Human Rights Sanctions Regulations 2020, enforcing an asset freeze in the Bailiwick of Guernsey. Firms must verify relationships with these parties, freeze related assets, and report findings to the Policy & Resources Committee. Additionally, firms must inform the Commission and submit a detailed report under Handbook Rule 12.37.
EnforcementSanctions & designationsNew sanctions designations
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2025-05-20•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice identifying 18 ships under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, applicable in Guernsey. Firms must verify business links to these vessels, report findings to the States of Guernsey Policy & Resources Committee, and comply with reporting obligations under the Sanctions Law. Affected firms should also notify the Commission and submit a report per Handbook Rule 12.37.
Policy & regulationGuidance & interpretationSanctions list update
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2025-05-20•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro expressed concern after Parliament rejected its vice-governor candidates, emphasizing the need for appointments based on professionalism and integrity to maintain independence. The bank noted no objections to its nominees and viewed the decision as a setback for institutional functionality. Under Governor Irena Radović, the bank remains committed to preserving monetary and financial stability.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning regarding unauthorised virtual asset services linked to cieloex.io and CieloEX Limited, which was never authorised under the Virtual Asset Service Providers Act, 2024. CieloEX Limited was incorporated but dissolved as of 1 January 2022. The FSA advises consumers to verify the licensing of virtual asset service providers and report suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a warning about unauthorised virtual asset activity linked to defihorse.com, operated by DFH Studios INC, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. DFH Studios INC was dissolved on 18 December 2024 and is no longer a legal entity. The FSA advises consumers to verify the licensing of virtual asset service providers and encourages reporting suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority warned about unauthorised virtual asset services linked to eezycoin.io, allegedly operated by EMO Fintech Group LTD, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. EMO Fintech Group LTD was dissolved as of 1 January 2024. The authority advises consumers to verify the licensing of virtual asset service providers and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority warns that finexbox.com, allegedly operated by FINEXBOX GROUP LIMITED, is not authorised under the Virtual Asset Service Providers Act, 2024. FINEXBOX GROUP LIMITED was incorporated under the International Business Companies Act but dissolved on 1 January 2022. The public should verify the licensing status of virtual asset service providers and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a public warning regarding unauthorised activity by Globe Derivative Trading Limited under the Virtual Asset Service Providers Act, 2024. The company, registered as an International Business Company, lacks authorisation to offer virtual asset services. The FSA advises consumers to verify the licensing of virtual asset providers and report suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) warned about unauthorised virtual asset activity linked to renq.io, operated by RENQ LIMITED, lacking authorisation under the Virtual Asset Service Providers Act, 2024. RENQ LIMITED, previously incorporated but not licensed, was dissolved on 18 December 2024. The FSA advises consumers to verify the licensing of virtual asset service providers and report suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) issued a public warning regarding mandala.exchange, operated by Mandala Exchange, Ltd, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. The FSA emphasized that Mandala Exchange, Ltd is not licensed to offer virtual asset services in Seychelles and urged consumers to verify the licensing status of such providers.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority warned about Lancer Venture Limited's alleged unauthorised activities via lancergrp.com, noting the company lacks authorisation under the Virtual Asset Service Providers Act, 2024. Lancer Venture Limited, previously incorporated under the International Business Companies Act, was dissolved on 18 December 2024. The authority advises consumers to verify virtual asset service providers' licensing and report suspected unauthorised activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority (FSA) warned about unauthorised virtual asset activity linked to diwallet.net, operated by Z International Limited, lacking authorisation under the Virtual Asset Service Providers Act, 2024. Z International Limited was incorporated but dissolved since December 2024. The FSA advises consumers to verify virtual asset service providers' licensing and report suspected unlicensed activities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority has finalized updates to the supervision of international banks and designated investment firms in the UK, revising Supervisory Statement 5/21 and related reporting rules. Key changes include increased Financial Services Compensation Scheme-linked deposit thresholds, removal of transactional deposit references, and refined booking model guidance. Branch reporting changes will take effect from March 2026, with the first revised Branch Return due for data as of June 2026.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-20•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority revised the lien creation form for insurers' security deposits after a joint review with the Bank of Uganda. The updated form aims to enhance control over withdrawals, as per Section 37 of the Insurance Act and Regulation 16(2)(c) of the Insurance Regulations, 2020. Insurers, reinsurers, micro insurers, and health maintenance organisations must adopt the new format and submit updated documentation.
Policy & regulationRules & requirementsLicence withdrawal
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2025-05-20•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission attended the 50th IOSCO Annual Meeting and Qatar Financial Markets Authority Conference, discussing regulatory issues and cross-border cooperation. SEC Secretary-General Pornanong Budsaratragoon engaged in talks on digital asset supervision, AI regulation, and online fraud prevention. Bilateral meetings with regional and international bodies focused on Thailand's capital market development, sustainable finance, and technology adoption.
Policy & regulationCooperationCross-border cooperationSupervision process and methodologies
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2025-05-20•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has launched Phase 2 of the “Public Empowerment through Capital Market Knowledge Initiative” 2025, inviting financial influencers to join an alliance to disseminate financial knowledge. Participants must meet specific content and reach criteria and complete the SEC’s “Responsible Voices for Finfluencer” training to qualify for the new “The Financial Changemaker” award.
Financial literacy & educationFinancial literacy and education
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2025-05-20•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria has released draft Baseline Standards for Automated Anti-Money Laundering (AML) Solutions, seeking feedback to enhance compliance across Nigeria's financial sector. The standards aim to improve real-time detection of suspicious transactions, reduce manual processes, and align with Financial Action Task Force recommendations. They apply to all financial institutions, detailing capabilities in risk profiling, customer verification, transaction monitoring, and data security, focusing on system integration and AI-driven watchlist screening.
Policy & regulationRules & requirementsAML and CFTRegtech and suptech
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2025-05-20•United Kingdom•Bank of England
The Bank of England's Prudential Regulation Authority (PRA) issued a Policy and Supervisory Statement for international banks in the UK, covering branch business, booking models, and liquidity reporting. The PRA increased deposit-related thresholds by 30% and introduced a new £300m threshold for retail and small business deposits, above which banks must operate as subsidiaries. These changes aim to enhance oversight and mitigate contagion risks, referencing lessons from the Silicon Valley Bank failure.
Policy & regulationRules & requirementsCross-border paymentsSupervision process and methodologies
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2025-05-20•Hungary•National Bank of Hungary
The National Bank of Hungary's April 2025 Bank Sentiment Survey shows a slight deterioration in the operating environment in late 2024 and early 2025, with further weakening expected in mid-2025. Banks cite higher operating expenses, economic uncertainty, regulatory tightening, and worsening corporate creditworthiness as key factors, though household credit demand and competition from non-bank participants have intensified. Regulatory tightening, linked to the extra profit tax, mortgage interest rate cap, and amended Capital Requirements Regulation, is expected to continue impacting profitability and operating costs.
SupervisionRisk monitoring & watch pointsEconomic data and developments
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2025-05-20•United States•U.S. Financial Services Committee
U.S. House Financial Services Chairman French Hill outlined priorities to bolster community banking, ease small business regulatory burdens, and enhance capital access. Key proposals include the FAIR Exams Act for transparency in bank examinations, the FIRM Act to prevent politicization in bank supervision, and the Bank Failure Prevention Act to streamline bank merger reviews. Hill noted a procedural lapse in amendment disclosures, with steps taken to rectify future compliance.
Policy & regulationRules & requirementsMarket development
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2025-05-20•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee endorsed the House's approval of S.J. Res. 13, a Congressional Review Act resolution to overturn an OCC rule on Bank Merger Act application reviews. The committee criticized the rule for hindering small banks' growth and competition by imposing burdensome standards. The resolution aims to reverse these standards, promoting innovation and consumer choice.
Policy & regulationRules & requirementsOther
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2025-05-20•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, led by Mohamed Farid, announced changes to boost private-sector sustainable finance and emissions-reduction projects, including Capital Market Law amendments for sustainability bonds and a voluntary carbon market. Five sustainability-related issuances total EGP 11.56 billion and USD 599,000. The authority is also developing frameworks for carbon certificate evaluation and insurance products to mitigate trading risks.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-05-20•United States•U.S. Department of Justice
The U.S. Department of Justice sentenced Elchonon “Elie” Schwartz to 87 months in prison and ordered him to pay over USD 45 million in restitution for defrauding investors in commercial real estate via the CrowdStreet Marketplace. Schwartz misappropriated approximately USD 62.8 million, diverting funds to personal accounts and unrelated investments. The FBI and U.S. Securities and Exchange Commission investigated, leading to Schwartz's guilty plea to wire fraud.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-05-20•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation reported that the Deposit Insurance Fund (DIF) reserve ratio increased to 1.28% as of 31 December 2024, with projections indicating a return to the 1.35% statutory minimum ahead of schedule. Acting Chairman Travis Hill requested an analysis on whether the assessment base should be adjusted to better align with the metric used to evaluate the fund's health.
Policy & regulationImplementation, projects & pilotsFinancial and market indicatorsSupervisory data
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2025-05-20•Canada•Payments Canada
Payments Canada has initiated a public consultation on the legal framework for Real-Time Rail (RTR), focusing on a proposed by-law and core policy elements for Canada's new real-time payment system. The RTR will function as a real-time gross settlement system with a tiered participation model and stringent financial risk controls, including a CAD 100,000 per-transaction limit. The framework also mandates centralized fraud prevention services for all participants.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-20•United States•Federal Deposit Insurance Corporation
The FDIC Board released its semiannual update on the Restoration Plan for the Deposit Insurance Fund (DIF), projecting the reserve ratio will reach the statutory minimum of 1.35% before the September 2028 deadline. The reserve ratio increased from 1.22% to 1.28% in the second half of 2024, due to DIF balance growth and slower insured deposit growth. The current restoration plan began in September 2020 after extraordinary deposit growth reduced the ratio below the required threshold.
Policy & regulationImplementation, projects & pilotsOther
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2025-05-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam submitted a draft law to the National Assembly to amend the Law on Credit Institutions, aiming to enhance mechanisms for resolving non-performing loans and expedite crisis liquidity support by shifting decision-making on "special loans" to the central bank. Amendments include allowing the State Bank to issue special loans at 0% interest and provisions for collateral seizure and asset attachment limitations. The National Assembly Standing Committee approved the legislative file for expedited consideration.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-05-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on the 15th Party Congress of the Bank for Investment and Development of Vietnam, which reviewed the 2020–2025 term and set directions for 2025–2030, including electing a new Party Executive Committee. BIDV aims to become a leading "big, strong, green" bank in Southeast Asia and among the top 100 banks in Asia by 2030, with a vision to reach the top 50 by 2045, focusing on operational streamlining and digital transformation. Delegates were also elected to the Government Party Congress for the 2025–2030 term.
Institutional developmentLeadership change & appointmentsOther
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2025-05-20•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has extended the deadline for banks to submit capital reporting from 11 August to 25 August 2025. This follows a request from Finance Norway due to updates in reporting requirements under the new Capital Requirements Regulation (CRR3). The extension applies to capital adequacy and leverage ratio reporting, with a shorter postponement chosen to ensure oversight and data quality for the European Banking Authority.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-20•Albania•Bank of Albania
Bank of Albania Governor Gent Sejko emphasized internal audit's strategic role in risk management and governance at a regional conference. He highlighted the bank's alignment with international auditing standards and cooperation with central banks and the IMF, citing initiatives like the Internal Audit Committee and risk-based audit methodology. Sejko also addressed the importance of coordinated assurance in tackling challenges such as digitalisation, cyber risk, and sustainability.
Policy & regulationGuidance & interpretationAuditingSupervision process and methodologies
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2025-05-20•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group has published its Annual Review 2025, outlining its financial and sustainability reporting activities over the past year. EFRAG highlights technical input on key International Financial Reporting Standards projects, enhanced cooperation with international standard setters, and work on Draft Simplified European Sustainability Reporting Standards to reduce complexity and support non-listed small and medium-sized enterprises through the Voluntary Standard and related digital tools.
Policy & regulationInternational standards & recommendationsOther
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2025-05-20•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) issued a warning about fraudulent entities offering online loans under false claims of CMF supervision and collecting advance payments for loans that do not materialize. Complaints were filed with the Public Prosecutor’s Office for alleged fraud involving impersonators using specific websites. The CMF advised the public to consult its Fraud Alerts page for verification and protection guidance.
SupervisionAlertsFraud and scams
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2025-05-20•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) released its 2024 Financial Education Activities Report, detailing initiatives by CMF-supervised entities from 2020 to 2024. The report highlights stable activity levels but identifies gaps in financial capacities and compliance with CMF guidelines, recommending increased focus on underserved groups and digital literacy.
Financial literacy & educationActivity and performance reporting
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2025-05-20•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) warned that CAPIVO, NORDEQUITY, LEOTRADEZ, and SURTRADING SPA are not under its supervision, limiting its ability to oversee or sanction them. The CMF advised investors to verify firm registration and management details on its website and search for complaints or negative feedback. The public is also directed to the CMF's Fraud Alerts Page for information on unregulated entities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-05-20•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) released procedures for non-US swap dealers and major swap participants registered with the CFTC, focusing on substituted compliance with foreign regulations comparable to the Commodity Exchange Act. The procedures emphasize international comity, deferring to foreign regulators' interpretations and supervisory processes. The Market Participants Division will handle inquiries unless a significant issue arises, which will then be referred to the Division of Enforcement.
EnforcementEnforcement frameworkCross-border payments
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2025-05-20•Canada•British Columbia Securities Commission
The British Columbia Securities Commission issued a temporary order against Xeltox Enterprises Ltd., operating as Cryptomus, for potential breaches of Securities Act registration requirements and operating as an unrecognized exchange. The order prohibits Cryptomus from trading in securities or derivatives and engaging in promotional activities. The Commission emphasizes that crypto asset trading platforms must register with provincial or territorial regulators to protect investors.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-20•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission filed a complaint against Unicoin, Inc. and three executives for allegedly misleading investors in offerings tied to Unicoin tokens and common stock. The SEC claims Unicoin falsely marketed these as asset-backed and SEC-registered, raising USD 110 million from over 5,000 investors. The SEC seeks injunctions, disgorgement, civil penalties, and officer-and-director bars for the executives involved.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-05-20•Global•Financial Stability Board
Financial Stability Board Deputy Secretary General Martin Moloney, at the International Council of Securities Associations’ meeting, emphasized regulatory reform for stable financial markets to prevent deregulation cycles. He noted reform complexity due to intertwined securities and financial stability goals, advocating adherence to global standards, process improvements, and evidence-based reform piloting. Moloney stressed the FSB does not direct jurisdictions' regulatory agendas.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-05-20•United States•U.S. Securities & Exchange Commission
SEC Chairman Paul S. Atkins prioritized investor protection, capital formation, and efficient markets, advocating for a rational crypto regulatory framework and regular rulemaking. Key updates include a 15% SEC headcount decline, plans to disband the Strategic Hub for Innovation and Financial Technology, and a comprehensive EDGAR system review after a data masking error. The SEC set the Section 31 transaction fee rate at USD 0 per million after meeting its fiscal year 2025 appropriation.
Policy & regulationReform agendas & prioritiesOther
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2025-05-20•United States•U.S. Securities & Exchange Commission
At SEC Speaks, the SEC's Director of the Office of the Advocate for Small Business Capital Formation discussed the office's role in rulemaking and policy, highlighting 34 outreach events, policy meetings, and the 2024 Annual Report. The report includes data on small business financing, noting 58% of new businesses started with less than USD 25,000, USD 6 billion in pre-seed and seed investment, and USD 19 billion in IPO proceeds in early 2024, amid declining exit values.
Financial literacy & educationSME financing
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2025-05-20•Global•Financial Stability Board
The Financial Stability Board (FSB) held its first Forum on Cross-Border Payments Data in Basel, focusing on reducing data-related frictions. Collaborating with the OECD and FATF, the forum aimed to harmonize payments-related data requirements. Participants, including data privacy authorities, discussed initiatives and actions to address legal and regulatory differences that increase costs and risks.
Policy & regulationCooperationCross-border payments
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2025-05-20•Canada•Bank of Canada
The Bank of Canada Museum awarded Angela Larocque and Nicole Feisst the 2025 Award for Excellence in Teaching Economics for their community-focused financial literacy initiatives. Larocque was recognized for her entrepreneurship event and community financial literacy night, while Feisst developed a personalized financial simulation for students. Each recipient received a trophy, CAD 1,000 personal cash prize, and CAD 1,000 for their school.
Financial literacy & educationFinancial literacy and education
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2025-05-20•Thailand•Bank of Thailand
The Bank of Thailand's Q1 2025 report highlights a resilient banking system with strong capital, loan-loss provisions, and liquidity, alongside improved profitability. However, it notes the need to monitor tight financial conditions, borrowers’ debt serviceability, and global trade policy impacts. Bank lending contracted by 1.3% year on year, with non-performing loans rising to THB 548.1 billion, driven by SMEs and mortgages, while profitability gains were supported by lower operating expenses and higher non-interest income.
ResearchAsset qualityCredit riskLiquidity risk
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2025-05-20•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency appointed Andrew Moss as Deputy Comptroller for Community and Industry Relations, effective June 2. Moss will oversee community development outreach and engagement, continuing his role as Director of External Relations and Strategic Partnerships. This position was previously held by Barry Wides, who retired in 2025, and is part of the agency's reorganization efforts.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-20•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) has launched a public consultation on draft rules for two new regimes to simplify and expedite public share offerings. The proposal includes a low-impact regime with automatic authorization and minimal disclosure, and a medium-impact regime requiring only annual financial statements under Argentine standards. This initiative builds on previous efforts to streamline public offering processes.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-05-20•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration amended rules to align with the revised Company Law, focusing on supervisory boards and related-party transactions. Trust companies may forgo supervisory boards if an audit committee is established, while related-party transactions now require board or shareholder approval. The administration will assist financial institutions in updating internal rules and systems to comply with these changes.
Policy & regulationRules & requirementsCorporate governance
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2025-05-20•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration amended rules to align financial institution governance with the revised PRC Company Law effective 1 July 2024. Trust companies may replace the board of supervisors with a board-level audit committee. Expanded approval requirements for related-party transactions now include directors, supervisors, and senior management. Simplified approval processes are introduced for financial products and services not meeting major transaction thresholds.
Policy & regulationRules & requirementsCorporate governance
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2025-05-20•Switzerland•Federal Department of Finance (Switzerland)
The Federal Department of Finance (Switzerland) announced the conclusion of the fourth Point Zero Forum in Zurich, co-hosted with the Global Finance & Technology Network. The event, a collaboration between Switzerland and Singapore, gathered 1,350 leaders from 66 countries to discuss global financial transformation focused on trust, inclusion, and innovation.
Policy & regulationCooperationCross-border cooperation
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2025-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova reported a 9.4% increase in newly attracted term deposits for April 2025, totaling MDL 4,441.1 million, driven by an 81.3% rise in foreign-currency deposits. Deposits in the national currency decreased by 16.5%, while average nominal rates rose to 4.83% for national currency and 1.33% for foreign currency. Household deposits fell 3.1% month on month, whereas corporate foreign-currency deposits surged 3.4 times.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova reported that from January to April 2025, cash withdrawals from banks exceeded receipts by MDL 1,220.3 million. Cash receipts increased by 3.5% year-on-year to MDL 55,676.8 million, while withdrawals rose by 5.4% to MDL 56,897.1 million. The main drivers were consumer goods sales and foreign currency purchases, with notable increases in ATM withdrawals and loans to individuals.
Data & statisticsCurrency and cash management
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2025-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova reported April 2025 banking statistics, revealing a decline in new loans to MDL 6,781.7 million, an 8.1% decrease from March. Lending in Moldovan lei comprised 73.7% of the total, with average nominal rates on new leu loans rising to 9.00%. Loans to legal entities and individuals showed varied trends, with notable decreases in lei and foreign-currency loans.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-20•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu emphasized gender equality for balanced development at the Female Entrepreneurship Index launch. Despite Moldova's improved Global Gender Gap Index ranking, women remain under-represented in senior roles. Dragu noted women are generally more educated but earn 15.5% less than men and are less likely to hold leadership positions. She highlighted the central bank's high female representation and the 'FinanciarELE' initiative supporting women in finance.
Financial literacy & educationDiversity and inclusion
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2025-05-20•South Korea•Bank of Korea
The Bank of Korea's Q1 2025 data reveals a KRW 2.8 trillion increase in total household credits, reaching KRW 1,928.7 trillion by end-March. Household loans rose by KRW 4.7 trillion to KRW 1,810.3 trillion, while merchandise credits decreased by KRW 1.9 trillion to KRW 118.5 trillion.
Data & statisticsMonetary data
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2025-05-20•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan reported a Q1 2025 current account surplus of USD 30.23bn, with a net asset increase of USD 28.23bn in the financial account and a USD 0.09bn decline in reserve assets. The goods trade surplus widened by USD 2.70bn to USD 27.23bn, while the services account deficit increased due to higher travel expenditures. Portfolio investment saw a net asset increase of USD 31.76bn, driven by residents' increased overseas investments and nonresidents reducing equity holdings.
Data & statisticsBalance of payments and other external statistics
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2025-05-20•Luxembourg•Luxembourg Commissariat aux Assurances
The Luxembourg Commissariat aux Assurances released its Q1 2025 press release, detailing quarterly indicators for the insurance sector.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-20•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE imposed a financial sanction of 200 million AED on an exchange house for significant failures in its Anti-Money Laundering and Combating the Financing of Terrorism framework, under Article 137 of Decretal Federal Law No. 14 of 2018. Additionally, a 500,000 AED sanction was imposed on a branch manager, who is now barred from holding any position within licensed financial institutions in the UAE.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-20•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank (DNB) issued an instruction to IQ EQ Netherlands N.V. after a 2023 investigation revealed inadequate customer due diligence under the Act on the Supervision of Trust Offices (Wtt 2018). DNB found deficiencies in all six reviewed customer files, particularly in integrity risk profiling and asset origin assessment. Despite IQ EQ's objection, DNB upheld the instruction, and IQ EQ has since adopted an improvement plan.
EnforcementInvestigations & enforcement actionsKYC
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2025-05-20•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank, through the National Forum on the Payment System, advises consumers and retailers to prepare for 72-hour electronic payment outages. Recommendations include holding EUR 70 per person in cash, maintaining multiple payment methods, and ensuring retailers have fallback options like QR-code payment apps and sufficient cash change. This advice aligns with the Dutch government's "Think Ahead" preparedness guidance.
Policy & regulationGuidance & interpretationOperational risk and resiliencePayments and payment systems
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2025-05-19•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's Q1 2025 report shows a 7.8% rise in exports to USD 2,074.3 million and a 4.2% increase in imports to USD 2,681.0 million, resulting in a USD 606.7 million trade deficit, 6.5% smaller than last year. Goods exports grew 13.8%, driven by agriculture, mining, manufacturing, and fishing, while free trade zone exports were stable. Merchandise imports rose 4.5%, led by capital goods, and terms of trade improved 7.1% due to higher export prices and lower import prices.
Data & statisticsBalance of payments and other external statistics
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2025-05-19•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority's 2024 Annual Report notes record market growth, increased foreign participation, and significant regulatory measures in funds, listings, and debt markets. Assets under management surpassed SAR 1 trillion, with notable increases in investment funds and foreign investments. The report highlights enhanced investor protection, with SAR 389 million in compensation paid and a strategic plan for 2024–2026 focusing on market financing, ecosystem enablement, and investor rights protection.
Policy & regulationRules & requirementsActivity and performance reporting
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2025-05-19•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) announced a strategy to enhance retirement savings for informal workers and Dominicans abroad through digital, voluntary Complementary Pension Plans. These plans aim to increase pension coverage with flexible contributions and partnerships with merchants. SIPEN also addressed sustainability issues due to low contributions and is considering minimum guarantees for savers.
Policy & regulationReform agendas & priorities
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2025-05-19•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendence of the Securities Market (SMV) announced a technical assistance agreement under the Works for Taxes framework, with ProInversión selecting a private company for a service-improvement project, including a new headquarters. The project involves constructing a 15,000 m² energy-efficient building in Miraflores, Lima, with an estimated investment of PEN 91.6 million. SMV is the first entity in Peru's Economy and Finance sector to use this mechanism for infrastructure modernization.
Policy & regulationImplementation, projects & pilotsOther
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2025-05-19•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro released application materials for candidates registering for the professional exam necessary for insurance mediation or representation activities. Details on the exam schedule will be announced on the agency's website.
SupervisionAuthorisations & approvalsLicence approval