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2025-05-13•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance detailed Finance Minister Kyriakos Pierrakakis's participation in Eurogroup and ECOFIN meetings, advocating for deepening the Banking Union, the digital euro, and updated VAT rules for imports. Greece supported the Savings and Investments Union's administrative simplification and the European Commission's savings and investment initiatives. On defence financing, Pierrakakis endorsed EU defence industry funding and the SAFE tool, emphasizing conditions for non-EU participation.
Policy & regulationReform agendas & prioritiesOther
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2025-05-13•Portugal•Portuguese Insurance Regulator (ASF)
Portugal’s Insurance and Pension Funds Supervisory Authority (ASF) issued Recommendation No. 3/2025, outlining expectations for insurers and reinsurers on liquidity risk and asset-liability management (ALM). The guidance emphasizes prudent risk management in a changing interest rate environment, aligning with International Association of Insurance Supervisors standards. ASF will oversee implementation through supervisory follow-up on Own Risk and Solvency Assessment (ORSA) exercises and Solvency and Financial Condition Report (SFCR) disclosures.
Policy & regulationGuidance & interpretationLiquidity riskAsset quality
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2025-05-13•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC has expanded its Fintel Alliance, creating a hub for real-time data sharing and analysis with industry and law enforcement to detect criminal patterns. Initiatives include analyzing cash deposits, issuing alerts on money muling, and addressing scams. The expansion prepares for future partnerships with newly regulated entities.
Policy & regulationCooperationAML and CFTMarket development
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2025-05-13•Laos•Bank of the Lao
The Bank of the Lao PDR conducted a workshop to standardize its approach to drafting regulatory instruments and documentation, aiming for consistent understanding and implementation across departments. The session covered drafting techniques, guidance on supporting documents, and evaluation of implementation outcomes, with participation from 73 bank members.
Institutional developmentCooperation & capacity buildingOther
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2025-05-13•United Kingdom•Financial Conduct Authority
The FCA's Financial Lives survey shows widespread financial vulnerability in the UK, with 25% having low financial resilience and 10% lacking savings. While banking access and digital inclusion improved, challenges remain in long-term savings. The FCA is promoting consumer engagement with lenders and financial advice, aligning its strategy with new support rules, the InvestSmart campaign, and financial inclusion initiatives.
ResearchFinancial and market indicatorsConsumer and investor protection
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2025-05-13•Sweden•Riksbank
Sweden's Riksbank released an Economic Commentary analyzing early 2025 uncertainty's impact on the economy, particularly in Sweden. The report finds heightened uncertainty typically suppresses economic activity, with significant effects when the economy is weak or uncertainty is prolonged, while inflation impacts vary based on demand or supply shocks. Increased uncertainty could reduce Swedish GDP by about 0.2% in the next quarter, with potential for larger effects if uncertainty remains high.
Research
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2025-05-13•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission and Ontario Securities Commission signed a Memorandum of Understanding to enhance cooperation on supervising investment managers of collective investment schemes. The agreement strengthens regulatory collaboration and information exchange, allowing OSC-licensed managers to provide services for SFC-authorised funds.
SupervisionCooperationCross-border cooperation
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2025-05-13•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation released updated educational material to aid consistent application of IFRS Accounting Standards on going concern assessments and disclosures. The update incorporates recent developments, including IFRS 18 and ISA 570 (Revised 2024), while removing outdated references.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-05-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has authorized CGU Australia Pty Ltd to conduct insurance business under the Insurance Act 1973. An updated list of APRA-authorized general insurers is available on APRA’s register.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-13•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia disclosed changes in its financial asset portfolio, highlighting increased holdings of green, social, and sustainable bonds, which rose to EUR 625 million by end-2024. The bank reported significant reductions in the carbon intensity of its non-financial corporate bond and equity portfolios, aligning with its long-term goal of net zero emissions by 2050. Medium-term milestones for end-2025 include further reducing the carbon footprint of private-sector holdings.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-05-13•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Zorlu Savas as Chairman of the Management Board of Subsidiary Bank JSC Kazakhstan-Ziraat International Bank and Andrey Viktorovich Kopov as an independent director and Board member of Subsidiary JSC Bank VTB (Kazakhstan).
SupervisionAuthorisations & approvalsLicence approval
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2025-05-13•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency warns of sophisticated internet fraud. Scammers impersonate sellers, buyers, bank employees, police officers, or acquaintances to access money or data. The agency advises practicing "digital hygiene" by safeguarding personal information, verifying website authenticity, and avoiding pressure to transfer money.
SupervisionAlertsFraud and scams
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2025-05-13•Cyprus•Cyprus Securities and Exchange Commission
Hanseatic Capital Management Ltd has notified the Cyprus Securities and Exchange Commission (CySEC) of the dissolution and liquidation of WAVENTURES RAIF F.C.I.C. PLC, a Registered Alternative Investment Fund (RAIF). The RAIF will remain listed as "under liquidation" until the process is completed and all necessary documents are submitted, after which CySEC will remove it from the register per Article 138 of the Alternative Investment Funds Law of 2018.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-13•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 DBS Bank (Hong Kong) Limited. The HKMA reminded customers 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 using official details and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has updated the service schedule for its Coin Collection Programme's "Coin Carts," operating from 2 June to 17 August 2025. The Coin Carts, which rotate across Hong Kong's 18 districts, allow users to exchange coins for banknotes or add value to stored-value facilities free of charge. Since its inception in 2014, the programme has collected 1,031 million coins with a total face value of HKD 1,652 million.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-05-13•United Kingdom•UK Parliament
The UK Parliament has finalized the Bank Resolution (Recapitalisation) Bill, granting the Bank of England greater flexibility in handling small bank failures. The House of Lords approved amendments from the House of Commons, removing provisions on recapitalisation payment requirements and public cost neutrality. The bill received Royal Assent on 15 May, becoming an Act of Parliament.
Policy & regulationRules & requirementsRecovery and resolution
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2025-05-13•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) and Moody’s Insurance ASEAN held a workshop to enhance supervisory standards and risk management for climate change and natural catastrophe risks in the insurance sector. The session focused on regulatory approaches for assessing physical and transition risks, integrating these into insurers’ Own Risk Solvency Assessment (ORSA). This initiative is part of OIC's ongoing cooperation with Moody’s to bolster climate stress test readiness.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-13•Brazil•National Treasury (Brazil)
Brazil's National Treasury and the Central Bank of Brazil signed a Technical Cooperation Agreement to enhance financial citizenship for children and young people. The agreement supports the Treasury Direct Financial Education Olympiad and the Aprender Valor programme, with a 60-month work plan detailing actions and targets. The signing coincided with the 12th National Financial Education Week, featuring a joint virtual roundtable on integrating Aprender Valor projects with OLITEF preparation.
Policy & regulationCooperationFinancial literacy and education
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2025-05-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan announced the results of the “Best financial credit institution for servicing women entrepreneurs” competition, evaluating 2024 performance in lending, Islamic finance, deposit mobilisation, electronic payments, and support projects. Sanoatsodirotbonk, Humo, Alif Bank, and Arvand Bank were category winners, with additional awards given to other institutions and successful women entrepreneurs. This initiative is part of the 2023–2025 action plan under Tajikistan’s State Programme for the Development of Women’s Entrepreneurship through 2027.
Other
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2025-05-13•Europe•European Central Bank
The European Central Bank (ECB) released a working paper on the euro-area non-financial commercial paper market during the March 2020 money market fund run and the ECB's Pandemic Emergency Purchase Programme (PEPP). The study finds that PEPP purchases restored issuance and improved funding terms for eligible issuers, but the withdrawal of support led to higher yields and reduced money market fund engagement for firms heavily reliant on the programme. The ECB purchased EUR 35 billion of commercial paper, significantly impacting issuance volumes and yields, with notable effects observed as the programme unwound.
ResearchMarket development
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2025-05-13•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) hosted a webinar during the 12th National Financial Education Week, focusing on enhancing financial education in Brazil. Discussions included the social impact of financial education, its integration into schools, and the role of Semana ENEF in engaging stakeholders. The event featured SUSEP directors and was structured into panels exploring the potential of financial education.
Financial literacy & educationFinancial literacy and education
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2025-05-13•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) hosted "Insurance for All" during the 12th National Financial Education Week, focusing on financial education, socioeconomic vulnerability, and inclusive insurance. Panels addressed financial education progress, insurance access for vulnerable groups, and long-term financial sustainability, emphasizing tailored products for low-income consumers and pension plans for informal workers. The event was held in Brasília and livestreamed on SUSEP's YouTube channel.
Financial literacy & educationFinancial literacy and education
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2025-05-13•South Africa•South African Reserve Bank
The South African Reserve Bank's working paper on fintech-provided revenue-based financing for small businesses shows that businesses accepting such financing have 16% lower payments through a major processor than non-takers. Using data from over 100 million transactions, the study suggests revenue hiding and adverse selection by riskier firms. Two natural experiments indicate competitive pricing and longer non-lending interactions can impact transaction volumes and improve screening.
ResearchSME financingFintech and insurtech
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2025-05-13•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) participated in the opening of the 12th National Financial Education Week, promoting financial, pension, insurance, and tax education. PREVIC standards director Alcinei Rodrigues emphasized the importance of early retirement planning and the need for engagement from workers and plan sponsors, noting the sector's annual payout of BRL 100 billion in benefits.
Financial literacy & educationFinancial literacy and education
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2025-05-13•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam released the Business Sentiment Index for March 2025, showing the Current Business Conditions sub-index slightly below neutral at 49.9, while the one-month-ahead index improved to 50.3 for April. Reduced consumer demand and slower project mobilisation during Ramadhan impacted sentiment, though expectations of increased activity ahead of Hari Raya Aidilfitri provided some offset. Wholesale & Retail Trade showed optimism at 50.7, whereas Health & Education recorded the lowest sentiment at 49.3.
Data & statisticsEconomic data and developments
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2025-05-13•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) issued an alert regarding a counterfeit draft surety bond policy falsely attributed to Axiom Insurance Company JSC, which the insurer has disowned. IVASS had previously warned about similar counterfeit policies in February and May 2024. The authority advises heightened caution and verification of insurance offers against IVASS lists and registers to ensure authenticity.
SupervisionAlertsFraud and scams
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2025-05-13•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation and blocking of insurance intermediation through four unauthorized websites in Italy. This action raises the total number of blocked sites to 242 since November 2023. IVASS advises consumers to verify the authorization of insurance offers, particularly for temporary motor third-party liability policies, before making payments.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-13•Vietnam•Vietnam State Securities Commission
Vietnam’s Ministry of Finance and the Vietnam State Securities Commission are seeking feedback on a draft decree introducing administrative penalties for crypto asset violations. The amendments aim to align sanctions with a draft government resolution on piloting a crypto-asset market in Vietnam.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-13•Germany•German Bundesbank
The German Bundesbank's March 2025 statistics reveal gross bond issuance of EUR 135.1bn and a net increase in domestic debt securities of EUR 26.0bn. Foreign investors were the primary net buyers of domestic bonds, while domestic non-banks and banks focused on domestic and foreign securities, respectively. The equity market saw modest activity, with domestic firms raising EUR 0.2bn and foreign investors as the sole net buyers.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-13•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has launched a public consultation on two draft measures. Draft A proposes changes to CVM Resolution 44, focusing on disclosure of relevant shareholdings and clarifying the use of "Material Fact" and "Market Notice." Draft B aims to amend CVM Resolution 80 to prevent premature disclosure of offering information.
Policy & regulationRules & requirementsDisclosures
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2025-05-13•Serbia•National Bank of Serbia
The National Bank of Serbia's Cash Operations Division reported 2,361 counterfeit banknotes detected in Q1 2025, with euro counterfeits comprising the largest share by number and value. Among 450 counterfeit Serbian dinar notes, RSD 2,000 notes were most prevalent. In foreign currency, 1,911 counterfeit notes were found, predominantly euros and US dollars, with a total nominal value of RSD 34,862,439.19.
Data & statisticsCurrency and cash management
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2025-05-13•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has been granted leave to appeal a judgment by LB Marshall KC in its case against Weighbridge Trust Limited, citing novel interpretations of the Bailiwick’s regulatory laws. The appeal was approved by the Rt Hon James Wolffe KC of the Guernsey Court of Appeal on all grounds proposed by the Commission.
EnforcementInvestigations & enforcement actions
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2025-05-13•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission held the inaugural Anti-Scam and Illegal Taking of Investments Group (ASTIG) Partners Meeting with 35 agencies to enhance coordination against fraudulent investment schemes. The meeting emphasized a comprehensive action plan focusing on public awareness and inter-agency cooperation, involving entities like the Bangko Sentral ng Pilipinas and the Philippine National Police. ASTIG, part of the SEC Communication, Advocacy, and Network Initiative, aims to empower local governments to combat scams effectively.
Policy & regulationCooperationFinancial literacy and educationConsumer and investor protection
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2025-05-13•Croatia•Ministry of Finance (Croatia)
Croatia’s Ministry of Finance reported on an Investment Outlook Session held alongside the European Bank for Reconstruction and Development Annual Meeting in London, where Deputy Prime Minister and Finance Minister Marko Primorac outlined Croatia’s economic transition and reforms to strengthen the investment climate. The discussion covered Croatia’s investment environment, EU capital market development and integration, and public enterprise reform, with Primorac stressing the need for a robust capital market to improve capital allocation, liquidity, risk diversification, and long-term investment.
Policy & regulationReform agendas & prioritiesMarket development
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2025-05-13•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) refused to renew Hong Wei Liao's life and accident and sickness agent licence under Ontario’s Insurance Act. FSRA cited false information in the licence application and past conduct as reasons for deeming Liao unsuitable to hold the licence. The order followed Liao's withdrawal of her request for a hearing before the Financial Services Tribunal.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-05-13•Global•World Federation of Exchanges
The World Federation of Exchanges' research reveals that climate risks are positively priced into commodity options, creating a climate risk premium, with moderate climate policy uncertainty linked to higher premia. The study, using a proprietary dataset of iron ore options on the Singapore Exchange, suggests that transparent climate policies can reduce uncertainty and enhance pricing efficiency.
ResearchClimate risk and sustainable finance
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2025-05-13•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC advises holders of Wastech Exponential’s STRD24DA bond to review information and exercise rights at the bondholders’ e-meeting. Proposals include waiving default due to non-payment, altering repayment schedules, and adjusting interest rates. Bondholders will vote on changes, including shifting principal repayment to maturity in December 2026 and modifying interest payment terms.
Policy & regulationGuidance & interpretationCorporate governance
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2025-05-13•Global•ISDA
The International Swaps and Derivatives Association (ISDA) highlighted the role of derivatives in pension risk management and discussed regulatory and market-structure changes impacting pension funds' hedging and margining practices. ISDA also noted its efforts to enhance margin and collateral processes, including semiannual calibration of the ISDA Standard Initial Margin Model and promoting automation in collateral management.
Policy & regulationImplementation, projects & pilots
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2025-05-13•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has expanded its Digital Regulatory Reporting (DRR) solution to include revised Canadian derivatives trade reporting rules by the Canadian Securities Administrators (CSA), with implementation set for July 25, 2025. The update supports Harmonized XML for compliance and will extend to Commodity Futures Trading Commission (CFTC) reporting, marking Canada as the seventh jurisdiction covered by ISDA DRR, with plans to support 11 rule sets across nine jurisdictions.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-05-13•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 249,480.50 penalty on Marouf Management Inc. for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Violations included inadequate compliance policies, risk assessment failures, and registration issues. FINTRAC also issued 12 notices of violation in 2023–24, totaling CAD 26,115,999.50.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-13•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission has adopted Local Rule 81-512, concerning the rescission of mutual fund security purchases.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-05-13•Egypt•Egypt Financial Regulatory Authority
Mohamed Farid, chair of Egypt's Financial Regulatory Authority, attended the AMERC meeting at IOSCO's annual event in Qatar, advocating for enhanced cooperation among capital markets regulators. He emphasized robust supervisory frameworks to protect retail investors amid digital and geopolitical changes, highlighting fintech's role in market development and balanced regulation. Discussions covered online retail investor protection, fintech, sustainability, and IOSCO's roadmap for retail investor protection.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-05-13•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, in collaboration with Alexandria University, conducted an awareness lecture on its supervisory role in non-banking financial activities. The session highlighted the FRA's efforts in risk reduction, financial awareness promotion, and market participant protection. This lecture is part of a broader initiative to enhance youth financial literacy and inclusion.
Financial literacy & educationFinancial literacy and education
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2025-05-13•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority held a virtual workshop under the Nilepreneurs initiative to enhance non-banking financial literacy. Attended by 80 participants, it focused on supervising non-banking financial activities like mortgage finance, insurance, and consumer finance, emphasizing financing for small, medium, and micro enterprises. This workshop is part of efforts to strengthen entrepreneurship support and connect projects with financing providers.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-05-13•Chile•Central Bank of Chile
The Central Bank of Chile's latest Business Perceptions Report highlights increased uncertainty among Chilean firms due to global trade tensions following U.S. tariff hikes. While direct impacts are not yet widespread, concerns focus on potential price increases for raw materials and lower sales. Financial conditions have eased with lower interest rates, but credit demand remains limited, and firms are cautious about investments amid international uncertainties.
Data & statisticsMarket risk and volatility
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2025-05-13•Russia•Central Bank of Russia
The Central Bank of Russia announced legislative amendments expanding access to the Long-term Savings Programme (LSP) and allowing early termination of certain agreements without losing government support. From 1 October 2025, individuals can join the LSP via the Public Services Portal. A new cooling-off mechanism permits termination of LSP agreements without co-financing, retaining eligibility for government support under other agreements if done before 1 April of the co-financing year.
Policy & regulationRules & requirementsSME financing
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2025-05-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has proposed a draft law amending the Law on Credit Institutions, to be presented to the National Assembly. It aims to codify Resolution 42's bad-debt framework, establish conditions for collateral seizure, and revise the central bank's special lending powers, including a 0% interest rate. The proposal has been assessed by the Ministry of Justice and will be reviewed by the National Assembly with an appraisal report from its Economic and Financial Committee.
Policy & regulationRules & requirementsOther
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2025-05-13•United States•Federal Reserve Board
The Federal Reserve Board has terminated the enforcement action against Perry County Bancorp Inc. and Du Quoin State Bank, effective May 7, 2025. The action was initially established on April 26, 2023.
EnforcementInvestigations & enforcement actionsOther
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2025-05-13•United States•Commodity Futures Trading Commission
The US Commodity Futures Trading Commission's Energy and Environmental Markets Advisory Committee will hold a virtual public meeting on May 28, 2025, to discuss subcommittee reports on metals markets in transitional energy and physical energy infrastructure. The meeting will include a vote on advancing the metals markets report to the Commission. Public access will be available via webcast and listen-only conference line.
Policy & regulationOtherClimate risk and sustainable finance
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2025-05-13•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) issued a statement by Acting Chairman Caroline D. Pham addressing a federal court report recommending sanctions against the agency for misconduct in CFTC v. Traders Global Group Inc. The report highlighted willful misconduct and false statements by CFTC staff, prompting Pham to outline corrective actions, including reorganization of the Division of Enforcement and enhanced training. Staff involved have been placed on administrative leave pending further investigation.
Institutional developmentMandate & organizational structure
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2025-05-13•Canada•British Columbia Financial Services Authority
British Columbia Financial Services Authority CEO Tolga Yalkin, at a Canadian Credit Union Association conference, discussed how provincially regulated credit unions could expand services beyond their home province while maintaining consumer protection and financial stability. He highlighted extra-provincial operations as a less disruptive alternative to federal continuance, emphasizing the need for provincial coordination on prudential and conduct outcomes, including capital adequacy, liquidity, and deposit insurance.
Policy & regulationCooperationCross-border cooperation
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2025-05-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has authorized CGU Australia Pty Ltd to conduct insurance business under the Insurance Act 1973, with the updated register of authorized general insurers accessible on APRA’s website.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-13•Argentina•Central Bank of Argentina
The Central Bank of Argentina's Vice President, Vladimir Werning, outlined the Board's "Stage 3" program at the Argentine Institute of Finance Executives Congress, focusing on eliminating the exchange-rate gap and lifting FX controls within a managed band regime. Key measures include using IMF resources to repurchase non-transferable USD instruments, expanding the repo facility, and introducing a banded exchange-rate regime. The speech also highlighted the forthcoming BOPREAL Series 4 issuance to address legacy external obligations and efforts to enhance payments interoperability and banking deregulation through 2025.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-05-13•United Arab Emirates•General Pension and Social Security Authority
The General Pension and Social Security Authority (GPSSA) reported 130 unplanned retirements due to work-related injuries or disabilities from Work Fitness Assessment applications. Employers submitted 479 applications, with a medical committee determining eligibility for disability pensions, calculated on 15 years of service or the actual contribution period. GPSSA emphasized the importance of accurate and timely submissions from employers and reminded individuals of their rights to claim disability pensions.
Data & statisticsOther
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2025-05-13•Mongolia•Central Bank of Mongolia
The Central Bank of Mongolia released its 2024 annual report.
Data & statisticsActivity and performance reporting
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2025-05-13•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released March 2025 business statistics for credit cards, cash cards, and electronic payment institutions. Key figures include NT$113.1 billion in revolving credit balances for credit cards, NT$10.2 billion in cash card loan balances, and NT$2.04 trillion in non-cash payment transactions for the first quarter. The report highlights delinquency ratios of 0.31% for credit cards and 1.169% for cash cards.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-13•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission reported domestic banks' loans to SMEs totaled NT$10,412 billion by March 2025, a NT$43 billion increase from February. SME lending accounted for 64.08% of loans to all enterprises and 67.92% of loans to private enterprises, with a slight decrease from February. The average non-performing loan ratio for SME loans rose to 0.25%, prompting the FSC to emphasize risk management in SME lending.
Data & statisticsLendingAsset quality
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2025-05-13•United States•U.S. Department of the Treasury
At a U.S. Bancorp meeting, Treasury Deputy Secretary Michael Faulkender outlined priorities for modernizing bank regulation, emphasizing reduced regulatory burden and enhanced financial risk oversight. He highlighted an executive order for regulatory review by the Office of Management and Budget and Treasury's role in harmonizing regulatory approaches. Key points included refining supervisory practices, potential selective use of Basel Committee standards, and reassessing capital and liquidity frameworks.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-05-13•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
The Trinidad and Tobago Ministry of Finance detailed an introductory meeting between Finance Minister Davendranath Tancoo and CAF Development Bank representatives, highlighting CAF's role as the principal multilateral development partner. Discussions covered loan financing and technical assistance in flood mitigation, corporate governance, digital payments, and public procurement. Trinidad and Tobago also assumed the chairmanship of CAF’s Board of Directors for a year.
Policy & regulationCooperationCross-border cooperation
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2025-05-13•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago's Ministry of Finance announced Finance Minister Davendranath Tancoo's meeting with the CAF Development Bank of Latin America and the Caribbean, highlighting CAF as the country's main multilateral development partner. Trinidad and Tobago has also assumed the chairmanship of CAF’s Board of Directors for a one-year term.
Policy & regulationCooperationCross-border cooperation
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2025-05-13•United Arab Emirates•Dubai International Financial Centre
The Dubai International Financial Centre (DIFC) signed a Memorandum of Understanding with Moro Hub to collaborate on advanced digital services for the DIFC Authority and its ecosystem. The partnership aims to enhance technology infrastructure and services, focusing on digital transformation, cloud services, cybersecurity, artificial intelligence, and enterprise resource planning. The MoU was signed at the Dubai FinTech Summit, where Moro Hub showcased its solar-powered data centre.
Institutional developmentCooperation & capacity buildingFintech and insurtechMarket development
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2025-05-13•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre (DIFC) has launched the '1 Million Learners' initiative under its Sustainable Finance Catalyst to educate one million individuals on sustainability and sustainable finance by 2030. Supported by 29 founding partners, including major financial and educational institutions, the programme will have GIST Impact as its impact partner to measure outcomes aligned with global sustainability frameworks.
Financial literacy & educationESGFinancial literacy and education
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2025-05-12•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved an independent board member for POD – Future AD and amendments to Varvara Thermal Village REIT's Articles of Association. It also notified German authorities about Karoll Capital Management EAD's plan to offer units of the Advance Opportunities in New Europe mutual fund in Germany.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-12•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo announced cooperation with the Bank of Slovenia to enhance its macroprudential framework under the Western Balkans central bank capacity-building programme. Senior BQK officials visited the Bank of Slovenia to assess macroprudential instruments and exchange experiences. This EU-funded initiative involves the European Central Bank, 20 EU national central banks, and eight Western Balkan central banks, coordinated by Deutsche Bundesbank.
Policy & regulationCooperationCapacity buildingMacroprudential policy and tools
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2025-05-12•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo detailed Governor Ahmet Ismaili's meeting with Deutsche Bundesbank President Joachim Nagel, emphasizing cooperation in financial-sector reforms and European integration. Discussions included Kosovo's EU integration progress, the Single Euro Payments Area pre-application, and the TIPS Clone project with the Bank of Italy. The meeting also addressed aligning Kosovo's banking regulations with EU standards, with Bundesbank support in capacity building and operational areas.
Policy & regulationCooperationCross-border cooperation
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2025-05-12•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic reported remittance inflows of USD 3,917.4 million from January to April 2025, a 12.1% increase year-on-year, with April alone seeing USD 954.6 million. Most of April's remittances originated from the United States, accounting for 82.7% of the total. The bank also highlighted tourism receipts, exports, and foreign direct investment figures, projecting 2025 remittances to reach approximately USD 11.0 billion.
Data & statisticsCross-border payments
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2025-05-12•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released April 2025 statistics on the Central Information Archive.
Data & statisticsSupervisory data
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2025-05-12•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro reported that Governor Irena Radovic met with European Commission officials to discuss integrating Montenegro’s financial system into the EU’s regulatory framework. The Commission expressed strong support for Montenegro’s progress in finance and monetary policy. Discussions with the central banks of Belgium and the Netherlands focused on aligning with European System of Central Banks standards, with plans for cooperation through specific projects.
Policy & regulationCooperationCross-border cooperation
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2025-05-12•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg announced that as of 31 March 2025, Luxembourg credit institutions employed 26,151 people, reflecting a quarterly increase of three jobs but a year-on-year decrease of 200. The related statistical series is available on the bank's website.
Data & statisticsActivity and performance reporting
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2025-05-12•Global•Financial Markets Standards Board
The Financial Markets Standards Board released its 2024 Annual Report, detailing standards and guidance from its committees, including key publications on pre-hedging, client onboarding, and sustainability-linked products. The report also highlights a speech by Bank of England Governor Andrew Bailey on the value of post-trade work and anticipates the 10th anniversary of the Fair and Effective Markets Review.
Policy & regulationGuidance & interpretationOther
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2025-05-12•France•France Autorite des marches financiers
The French Financial Markets Authority released a study evaluating retail savers' comprehension of risk and liquidity features in real estate investments, such as Société Civile de Placement Immobilier (SCPI), Organisme de Placement Collectif Immobilier (OPCI), and crowdfunding.
ResearchLiquidity riskMarket risk and volatility
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2025-05-12•France•France Autorite des marches financiers
France’s Autorité des marchés financiers (AMF) is now overseeing gender balance on boards of regulated-market listed companies, following the EU “Women on Boards” Directive. The directive targets companies with at least 250 employees and specific financial thresholds, requiring 40% of non-executive or 33% of all director roles to be held by the under-represented sex. The AMF will collect gender-representation data annually from 2026 and collaborate with the High Council for Equality.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2025-05-12•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority announced 96 firms are interested in its inaugural Tokenisation Regulatory Sandbox in the Dubai International Financial Centre. Part of the DFSA’s Innovation Testing Licence programme, it allows firms to test tokenised financial solutions under DFSA oversight without full regulatory requirements. Interest spans tokenisation of shares, bonds, and fund units, with participation from established institutions and start-ups.
SupervisionInnovation & testingFintech and insurtechTokenization
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2025-05-12•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) urged small business directors to manage assets responsibly, warning against misuse that can cause insolvency and harm creditors. ASIC emphasized directors' duties to act in good faith, citing liquidator reports that poor financial control caused 36% of company failures in 2023-24. Recent cases include court charges for fund misuse, with breaches leading to penalties. From January to March 2025, ASIC prosecuted 34 individuals for 67 offences, resulting in AUD 244,500 in fines and AUD 4,360 in costs.
SupervisionAlertsOther
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2025-05-12•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru has signed framework and specific agreements with the Pension Standardization Office to support rollout of the Secure and Transparent Affiliation Platform, a central tool under Peru’s pension system modernization law. The platform will centralize member choice, affiliation and transfers between the Pension Standardization Office and private pension fund administrators and support implementation of the semi-contributory pillar. The agreements provide for secure real-time information exchange, shared databases, technological validation mechanisms, digital governance, cybersecurity, personal data protection and permanent technical coordination.
Policy & regulationImplementation, projects & pilotsOther
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2025-05-12•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced that Paxton Trade Limited has surrendered its Global Business Licence and Investment Dealer (Broker) Licence, which have been terminated. The termination, effective from 04 May 2023, was conducted under sections 28(5) and 28(9) of the Financial Services Act.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-12•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank's annual survey showed "PIN only" payment signs at retail and service points in the Netherlands rose to 4.8% in 2024 from 4.5% in 2023, with notable increases in larger cities, pharmacies, and cinemas. Cash refusal varied by sector and region, with differences between chain and independent retailers, and geographic disparities in cash acceptance. The survey is linked to the 2022 Cash Covenant, with a legal obligation for cash acceptance under development and a legislative proposal submitted to the Senate.
SupervisionRisk monitoring & watch pointsPayments and payment systems
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2025-05-12•Dominica•Dominica Financial Services Unit
The Dominica Financial Services Unit has directed offshore banks licensed under the Offshore Banking Act No. 8 of 1996 to stop using the term “Crypto Bank” or similar labels and to cease implying authorisation to conduct cryptocurrency or digital asset banking beyond their existing licence scope. Acting under the Financial Services Unit Act No. 18 of 1996, the authority also ordered removal of misleading marketing materials and warned that non-compliance may result in administrative penalties and suspension or revocation of licences.
Policy & regulationRules & requirementsUnlicensed or unauthorized activity
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2025-05-12•Europe•European Financial Reporting Advisory Group
The European Financial Reporting Advisory Group (EFRAG) has confirmed the largely unchanged composition of its Sustainability Reporting Board (EFRAG SRB), effective 1 March 2025. Susana Peñarrubia replaces Alexander Bassen as the user sector representative. EFRAG emphasized the SRB's multi-stakeholder framework and its mandate from the European Commission to simplify the European Sustainability Reporting Standards (ESRS).
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-12•Andorra•Andorran Financial Authority
The Andorran Financial Authority announced that Standard & Poor’s affirmed Andorra’s sovereign credit rating at A-/A-2, revising the outlook to stable. This reflects Andorra's economic strength, with 2024 GDP growth at 3.4%, low public debt at 30% of GDP, and international reserves at 12% of GDP. The stable outlook is due to delayed economic benefits from the EU Association Agreement and slower banking system access to liquidity, despite positive assessments of economic and fiscal strength.
Data & statisticsCredit ratings
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2025-05-12•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) released a consultation paper proposing principles for industry associations to transition into Self-Regulatory Organizations (SROs) to enhance self-regulation in the financial sector. The framework includes converting trade associations into not-for-profit Section 42 companies under the Companies Act, 2017, to improve transparency and governance. Key elements focus on ethical standards, governance, and member training.
Policy & regulationRules & requirementsCorporate governance
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2025-05-12•China•Central Bank of the Republic of China
The People's Bank of China, with national and provincial authorities, issued 30 measures to boost financial support for Guangzhou Nansha in the Guangdong-Hong Kong-Macao Greater Bay Area. Initiatives include expanding cross-border payment access, promoting digital renminbi applications, and facilitating cross-border financial services. Implementation will be coordinated by the People's Bank of China and the Guangdong Provincial People's Government, with local offices developing detailed measures.
Policy & regulationImplementation, projects & pilotsMarket developmentFinancial inclusion
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2025-05-12•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance announced that State Secretary Baiba Bāne and officials will attend Eurogroup and ECOFIN meetings in Brussels on 12–13 May, focusing on the Banking Union, digital euro, and the proposed Security Action for Europe (SAFE) instrument. Discussions will cover the Banking Union report, Single Resolution Board activities, European Stability Mechanism issues, and global economic developments. ECOFIN will consider establishing SAFE as part of the ReARM plan, VAT rules for distance sales, and the economic impact of Russia's war against Ukraine.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-05-12•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance joined Eurogroup talks on European economic resilience, focusing on the digital euro and the Banking Union. The digital euro's preparation phase will continue until autumn 2025, addressing payment scheme development, functionality testing, and legislative negotiations. The meeting also reviewed the Single Resolution Board's work and preparations for the European Stability Mechanism annual meeting.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-05-12•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Financial Sector Supervisory Commission (CSSF) has mandated that audit reports for Luxembourg-law undertakings include a statement on the requirement and compliance of publishing income tax information, as per EU rules. This requirement, effective from financial years starting on or after 22 June 2024, follows amendments to the Law of 19 December 2002 and the Law of 10 August 1915.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-05-12•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) announced its chair, Margarida Corrêa de Aguiar, participated in the opening of the international conference on insurance regulation challenges, organized by the Monetary Authority of Macao. The event also launched the Advanced Training for Supervisors programme, a cooperative initiative by ASF and AMCM for members of the Association of Lusophone Insurance Supervisors.
SupervisionCooperationCross-border cooperation
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2025-05-12•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has launched a Supercharged Sandbox for financial services firms to experiment with AI in a controlled environment, supported by NVIDIA's computing and AI software. Built on NayaOne's Digital Sandbox infrastructure, it offers enhanced data, technical expertise, and compute capacity. It complements the FCA's AI Live Testing service, providing a pathway for firms at different AI adoption stages.
SupervisionInnovation & testingArtificial intelligence
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2025-05-12•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) reprimanded and fined Sino-Rich Securities & Futures Limited HKD 2 million for deficiencies in its margin lending policy and practices. The SFC also suspended Budihardjo Wilhelm Soeharsono, the responsible officer and manager-in-charge, for five months and two weeks. The sanctions considered prior disciplinary actions, remedial steps, cooperation, and Sino-Rich's financial position.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-05-12•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Zauresh Salmenovna Zhumabekova for appointment to the executive body in the securities market, as documented in protocol No. 240/РЦБ/Т.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-05-12•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 appointed Olzhas Ashkeev as Chair of the Management Board of Insurance Payments Guarantee Fund JSC, effective 6 May 2025. The fund guarantees payouts for liquidated insurers and is enhancing digital services and international cooperation. Kazakhstan will host the 12th International Forum of Insurance Guarantee Schemes and the annual Insurance Forum in August 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-12•Global•International Association of Deposit Insurers
The International Association of Deposit Insurers (IADI) is consulting on proposed revisions to the Core Principles for Effective Deposit Insurance Systems, last updated in 2014. The revisions address digital innovation, the role of deposit insurers in resolution, and lessons from the March 2023 banking turmoil, emphasizing a holistic financial safety net and coordination across deposit insurance, resolution, and supervision. Developed by a high-level steering group, the proposals were approved by the IADI Executive Council with input from the IMF, World Bank, Basel Committee, and Financial Stability Board.
Policy & regulationInternational standards & recommendationsOther
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2025-05-12•Latin America•Financial Action Task Force of Latin America (GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT) participated in key meetings in Washington, DC, addressing transnational organized crime and terrorism. Discussions included progress under the Hemispheric Strategy, good practices, and the use of new technologies against organized crime. The Inter-American Committee against Terrorism session focused on links between organized crime and terrorism and regional counter-terrorism frameworks.
Policy & regulationCooperationAML and CFTOther
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2025-05-12•Ghana•Bank of Ghana
At the IMF Sub-Saharan Africa Central Bank Network Seminar, the Bank of Ghana outlined its strategy to enhance cross-border payments, focusing on remittances, compliance, and interoperability. Initiatives include joining the Pan-African Payment and Settlement System (PAPSS) and collaborating with the National Bank of Rwanda on a FinTech License Passporting Framework and the Africa NextGen Digital Payment Infrastructure initiative. The Bank also emphasized using multi-regulator sandboxes and supervisory technologies to improve compliance monitoring and data sharing, while engaging on international standards for AML/CFT, digital identity, and data privacy.
Policy & regulationReform agendas & prioritiesCBDCPayments and payment systems
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2025-05-12•Global•Bank for International Settlements
The Bank for International Settlements announced that the Group of Central Bank Governors and Heads of Supervision (GHOS) reaffirmed the expectation for full implementation of Basel III and supported work on climate-related financial risks. GHOS endorsed a voluntary Pillar 3 disclosure framework for climate risks and tasked the Basel Committee with analyzing financial risks from extreme weather events. Progress on Basel III reforms was reviewed, with 70% of jurisdictions implementing or nearing implementation, and the Basel Committee was asked to continue monitoring these efforts.
Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
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2025-05-12•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan is hosting meetings of two Alliance for Financial Inclusion working groups on Digital Financial Services and the Financial Inclusion Strategy Peer Learning Group. Aligned with Tajikistan's national development priorities, these sessions focus on expanding digital financial services and strengthening financial inclusion strategies. The meetings aim to enhance cooperation among AFI members on financial inclusion policy and digital services.
Policy & regulationCooperationFinancial inclusionFinancial literacy and education
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2025-05-12•Europe•European Central Bank
The European Central Bank's Working Paper No 3054 integrates an information provision experiment into a dynamic rational inattention framework to analyze how survey respondents update beliefs. It predicts variations in the "treatment effect" based on attention costs, perceived importance of information, and environmental factors, with implications for communication policy. In high-inflation settings, smaller treatment effects may result from higher perceived stakes and volatility, and expanding publicly available information could alter these effects.
ResearchOther
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2025-05-12•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Sint Maarten and Curacao's 2025 Financial Stability Report confirms the financial sector's resilience despite geopolitical conflicts and market volatility. It highlights strong performance across banks, insurers, and pension funds, noting ongoing credit risk and challenges from market volatility and rising costs. It includes stress scenarios and risk assessments for 47 local financial institutions managing assets over three times the union's GDP.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMarket risk and volatilityLiquidity risk
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2025-05-12•Global•Sustainable Banking and Finance Network
The Central Bank of Sri Lanka has launched its Sustainable Finance Roadmap 2.0 to advance sustainable finance nationwide. The roadmap prioritizes enhancing environmental and social risk management, improving reporting and disclosure practices, and strengthening governance and institutional coordination. Development began in 2024 using the Sustainable Banking and Finance Network’s toolkit, with support from the International Finance Corporation.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-05-12•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a VND 1,000,000 licensing fee for securities practising certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Certificates not claimed within one year from 9 May 2025 will be cancelled.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-05-12•Europe•European Council
The European Council reviewed banking-sector resilience, the European Stability Mechanism (ESM), and the digital euro, emphasizing financial stability and ongoing reforms. Discussions with key supervisory figures addressed resolution preparedness and regulatory challenges, noting improved capital positions but highlighting issues like digital transformation and climate change. Ministers assessed progress on the digital euro's legal framework and agreed to expedite efforts to resolve outstanding issues.
Policy & regulationReform agendas & priorities