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2025-05-02•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's special fundraising account allocated over UAH 1.1 billion in April 2025 for defence, with a balance over UAH 1.2 billion as of 1 May 2025. Since February 2022, it received nearly UAH 66.3 billion, including foreign currency, and allocated over UAH 65.2 billion to defence agencies. A Cabinet resolution now allows transfers to other authorities involved in repelling Russian aggression, with one executed in April.
Data & statisticsOther
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2025-05-02•Portugal•Bank of Portugal
The Bank of Portugal reported that Maastricht public debt rose by EUR 1.0 billion in March 2025, reaching EUR 278.3 billion, or 96.3% of GDP. The increase was driven by higher savings certificates, debt securities, and loans. Public administrations’ deposit assets increased by EUR 1.3 billion, resulting in a net public debt decrease of EUR 0.2 billion to EUR 259.5 billion.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority issued a circular requiring retirement funds to update members' Beneficiary Nomination Forms and improve the timeliness of annual Benefit and Projection Statements. Only forms signed within the prior 18 months will be considered "most recent" for regulatory purposes. Funds must confirm the update exercise to NBFIRA by 31 July 2025.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-05-02•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 has revoked the microfinance licence of Oiyl-Nesie Credit Partnership LLP due to repeated legal breaches. The entity must re-register, reorganize, or liquidate within 30 days, while clients must fulfill existing microcredit obligations.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-02•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 has revoked the microfinance activity licence of “Qamqor Credit Partnership” LLP due to repeated legal violations. The entity must re-register, reorganize, or liquidate within 30 days, while clients remain liable for existing microcredit obligations.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-02•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 reported growth in banking sector assets, lending, and deposits as of April 2025, with a slight increase in overdue loans. Total assets rose 1.6% to KZT 62.0 trillion, driven by a 2.0% increase in the loan portfolio, while liabilities grew 1.7% to KZT 52.6 trillion. The sector's net profit for the first quarter was KZT 664 billion, marking a 16.6% year-on-year increase.
Data & statisticsLendingAsset quality
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2025-05-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 0.3% decline in insurance and reinsurance assets to KZT 3.2tn in March 2025, with premiums rising 21.9% to KZT 391.0bn. Securities made up 73.7% of assets, liabilities fell 0.7% to KZT 2.3tn, and equity rose 0.4% to KZT 959bn. Insurance contracts increased 34.5% year-on-year to 6.0m, driven by a rise in accident insurance contracts.
Data & statisticsSupervisory data
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2025-05-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 0.8% decline in equity market capitalisation to KZT 31.8tn in March 2025, due to major company price drops. Equity and corporate bond trading volumes weakened, while government securities turnover rose 42.3% to KZT 954.5bn. Assets under management in unit investment funds decreased 3.4% to KZT 359.5bn, and professional participants' assets fell 15.4% due to First Heartland Securities' licence suspension.
Data & statisticsFinancial and market indicatorsMarket development
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2025-05-02•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 outlined its ESG agenda, indicating a shift towards mandatory ESG reporting and risk management in the financial sector. Current voluntary practices by Kazakh institutions are supported by the Agency's guidance and capacity-building initiatives with the International Finance Corporation. Future plans include aligning sustainability disclosures with International Financial Reporting Standards and developing a carbon accounting methodology.
Policy & regulationReform agendas & prioritiesESG
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2025-05-02•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 reported a 15% increase in appeals in March 2025, mainly involving banks and microfinance organisations. Supervisory actions included three recommendatory measures and two administrative penalties totalling KZT 924,000. The agency also detailed progress on the mortgage refinancing programme, with significant refinancing and support measures across three tracks.
SupervisionInterventionsLending
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2025-05-02•Global•International Association of Deposit Insurers
The International Association of Deposit Insurers released a community news update highlighting member communications and the Bank Guarantee Fund's Strategy 2030, which outlines its mission and framework for the next five years. The update also details upcoming IADI events, including a virtual policy seminar and various regional meetings.
Other
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2025-05-02•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission has initiated Tender No. 02/2025 to develop and support two digital platforms. These platforms aim to onboard CySEC-supervised entities and enhance certification processes, seminar management, and examination records.
Institutional developmentProcurementOutsourcing and third-party risk management
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a warning about fraudulent websites and internet banking login screens related to DBS Bank (Hong Kong) Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals are advised to contact DBS and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Bank of East Asia, Limited. The HKMA emphasized banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not request sensitive personal information through SMS, email, or embedded hyperlinks. Individuals affected are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website reported by Bank Julius Baer & Co. Ltd. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens reported by Shanghai Commercial Bank Limited. The HKMA reminded the public that banks do 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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2025-05-02•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 Bank of China (Hong Kong) 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 affected by these fraudulent sites should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority imposed a GBP 1,950,000 civil penalty on RL360 Insurance Company Limited and RL360 Life Insurance Company Limited for breaches of the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019. The penalty, initially GBP 2,785,714, was reduced by 30% due to RL360’s cooperation and remedial actions. Deficiencies were found in risk assessments, due diligence, and monitoring processes, prompting RL360 to implement an extensive remediation programme.
EnforcementInvestigations & enforcement actions
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2025-05-02•Türkiye•Banking Regulation and Supervision Agency
The Banking Regulation and Supervision Agency released its Banking Sector Monthly Bulletin for March 2025, detailing essential banking-sector data collected from institutions under the Banking Law and related regulations.
Data & statisticsSupervisory data
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2025-05-02•United States•Federal Reserve Bank of Atlanta
The Federal Reserve Bank of Atlanta appointed Emily Mitchell as assistant vice president and regional executive for its Nashville Branch, succeeding Laurel Graefe. Mitchell will oversee economic intelligence gathering in Tennessee and contribute to outreach efforts. She has been with the Atlanta Fed since 2011, most recently as director of the Regional Economic Information Network in Nashville.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Europe•European Central Bank
The European Central Bank's March 2025 Survey showed largely unchanged credit terms from December 2024 to February 2025, with 88% expecting no changes in Q2. Haircuts decreased for most assets, notably high-quality corporate bonds, while financing rates and spreads decreased except for equities. Initial margin requirements and credit limits for non-centrally cleared OTC derivatives remained stable, with minor tightening for secured funding of equities and convertible securities.
Data & statisticsCredit risk
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin examines the unusual compression of US non-financial corporate bond spreads through 2024 and the implications of their recent abrupt widening. Earlier compression is attributed to strong risk-on sentiment and robust earnings expectations, with a shift in high-yield issuance towards higher-quality bonds. The ECB warns of rollover and repricing risks, with significant corporate debt maturing soon and potential increases in refinancing rates.
ResearchCredit riskMarket risk and volatility
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin shows a decline in average hours worked per employee in euro area countries since 2020, remaining below pre-pandemic levels. This is due to shifts at the extremes of the hours distribution, with fewer employees working over 49 hours per week and increased zero-hour weeks during the pandemic. Cross-country differences persist, notably in Spain and France, due to regulatory changes and altered preferences for long hours.
Research
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin reveals that the US's 2018 tariff measures on Chinese goods diverted trade to the euro area without boosting euro area exporters' US market share. The tariffs increased Chinese import rates by 18 points, reducing US imports from China by 10% and increasing euro area imports by 2%-3%. South and South-East Asian economies increased exports to the US as supply chains adjusted.
Research
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2025-05-02•Europe•European Central Bank
The European Central Bank released its Q1 2025 €STR transparency report, detailing errors impacting the euro short-term rate by over 0.1 basis points. One incident on 28 March 2025 had an absolute impact between 0.001 and 0.005 percentage points due to a late submission. Data was included up to 14 April 2025.
Data & statisticsRegulatory reporting
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2025-05-02•Europe•European Central Bank
The European Central Bank will integrate national central banks' statistical in-house credit assessment systems (S-ICASs) into the Eurosystem Credit Assessment Framework from 2026, enhancing credit assessment capacity and collateral availability. S-ICASs will focus on non-financial corporations, particularly micro, small, and medium-sized enterprises, excluding large exposures. A harmonised framework will guide the scope, methodology, and governance, with transitional provisions for national central banks using temporary systems.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-05-02•Europe•European Central Bank
The European Central Bank's weekly financial statement shows total assets and liabilities at EUR 6,313,602 million, down EUR 16,345 million from the previous week. Key changes include a EUR 15,351 million decline in securities for monetary policy and a EUR 1,922 million increase in lending to euro area credit institutions. Banknotes in circulation rose by EUR 1,757 million, while liabilities to euro area credit institutions fell by EUR 4,527 million.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•South Africa•South African Reserve Bank
The South African Reserve Bank has launched the ZARONIA First initiative, urging inter-dealer brokers to prioritize trading and quoting linear derivatives referencing the South African Rand Overnight Index Average (ZARONIA) over the Johannesburg Interbank Average Rate (Jibar). This aims to reduce reliance on Jibar, starting with linear derivatives like interest rate swaps. Supported by the Financial Sector Conduct Authority, the initiative includes transition guidance from the Market Practitioners Group.
Policy & regulationImplementation, projects & pilotsFinancial benchmarks
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2025-05-02•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that Westpac will pay a NZD 3.25 million penalty for misleading customers and overcharging, affecting 24,621 customers with NZD 6.35 million in overcharges, due to system deficiencies. Westpac has remediated affected customers and cooperated with the investigation, with no evidence of deliberate misconduct found.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-05-02•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority and the National Institute of Securities Markets signed a memorandum of understanding to enhance capacity building and training for securities markets participants in GIFT IFSC. NISM will conduct certification exams and develop tailored materials, including e-learning modules, for IFSCA officials and market participants.
Policy & regulationCooperationCapacity building
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2025-05-02•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported Q1 2025 cash circulation statistics, with 6.4 million banknotes worth EUR 213 million and 1.5 million coins worth EUR 1.6 million issued. A notable increase in coins returned was linked to the new rounding rule, with commercial banks returning 14.2 million coins. ATM cash withdrawals and deposits decreased by about 7% year-on-year, and 148 counterfeit euro banknotes were registered.
Data & statisticsCurrency and cash management
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2025-05-02•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission finalized guidelines for non-profit corporations and registered virtual asset exchanges to dispose of virtual assets, backed by real-name accounts and enhanced anti-money laundering controls. Disposal for non-profits is limited to audited entities operating for at least five years, with strict trading and liquidation requirements. Revised listing best practices aim to reduce price volatility post-listing and prevent indiscriminate listings, starting in June.
Policy & regulationGuidance & interpretationFintech and insurtechAML and CFT
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2025-05-02•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority joined an Asian Infrastructure Investment Bank panel at the Astana International Financial Centre, focusing on mobilizing finance for sustainable infrastructure in Kazakhstan. Discussions included expanding AIIB's investment in Central Asia and enhancing collaboration among multilateral development banks, commercial banks, and asset managers. AFSA CEO Evgeniya Bogdanova emphasized strengthening supervisory approaches and market integrity, focusing on sustainability and climate resilience.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-02•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has unveiled a "Strategic Framework on the Microfinance Model" to enhance the sector's role in financing self-employed individuals and micro, small, and medium-sized enterprises. Key initiatives include strengthening legal and regulatory foundations, introducing microcredit legislation, and supporting non-bank credit organisations. The framework also aims to improve identification systems for self-employed and family peasant farms.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-05-02•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has amended Chapter 9 of its Handbook on Countering Financial Crime to address an anomaly regarding pooled accounts by subsidiary companies of investment and fiduciary licensees. These changes were informed by industry feedback. Updated versions of the Handbook are now available.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-02•Zambia•Bank of Zambia
The Bank of Zambia's Financial Stability Committee reported a decline in financial stability risks since October 2024, citing reduced financial market stress and an improved macroeconomic environment. The countercyclical capital buffer remains at 0.0 percent. Despite positive trends, the Committee highlighted ongoing vulnerabilities such as electricity supply deficits, low financial intermediation, and foreign-currency lending risks.
Policy & regulationGuidance & interpretation
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2025-05-02•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced that the Ontario Superior Court of Justice appointed B. Riley Farber as receiver for Sussman Mortgage Funding Inc. and related companies, following FSRA's application. This action responds to allegations of serious wrongdoing by mortgage investors. FSRA has revoked SMFI's mortgage brokerage and administrator licences, and the receiver will manage SMFI's affairs and report to the court by June 2, 2025.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-02•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 50,000 penalty and compliance order against Daniel Emerson Tiffin, prohibiting him from acting as an insurance agent in Ontario. The Financial Services Tribunal found Tiffin operated without a licence and used licensed agents to receive commissions. FSRA has also taken enforcement actions against these agents, including licence revocations and penalties.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-02•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the Kosovo Judicial Council agreed to enhance cooperation on shared public interest matters. The meeting highlighted banking sector stability, supervisory reforms, and the importance of collaboration to address institutional challenges and improve efficiency.
Policy & regulationCooperationDomestic cooperation
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2025-05-02•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority has approved the preliminary prospectus for a VINCI share offering exclusively for the group's employees.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is consulting on proposed amendments to streamline financial statement submissions by real estate investment trust (REIT) managers. Key changes include extending the submission deadline to four months post-fiscal year-end and mandating electronic submissions to reduce reporting burdens and eliminate duplicate filings.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revised the definition of "Institutional Investor" to include private funds (PF) without requiring firms to assess individual PF clients. Effective 1 May 2025, this change aligns with PF supervisory guidelines, supporting operational flexibility while maintaining investor protection.
Policy & regulationRules & requirementsOther
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges bondholders of three Jasmine Technology Solution bond series to review information and exercise voting rights at an upcoming electronic meeting. Bondholders should seek comprehensive details from the issuer or representative regarding the benefits and impacts of proposed resolutions. Key agenda items include waiving events of default, extending maturity, revising repayment profiles, and adjusting interest rates.
SupervisionInterventionsCorporate governance
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2025-05-02•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's 2024 financial statements show a profit of NGN 638,837 million for the Group and NGN 165,694 million for the Bank, reversing 2023's losses. Auditors confirmed consistency with audited figures but highlighted non-compliance with Section 38 of the Central Bank of Nigeria Act and noted that post-16 April 2025 events are not reflected. The Board confirmed effective internal control over financial reporting.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-02•Namibia•Bank of Namibia
The Bank of Namibia updated its annual statutory engagement with the Office of the President, discussing economic developments and strategic initiatives for transformation and inclusive growth. Governor Johannes !Gawaxab emphasized evidence-based policymaking, sharing macroeconomic research on rural development, global agricultural value chains, fisheries, water scarcity, and financial impacts of oil discoveries.
Policy & regulationCooperationOther
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2025-05-02•Tanzania•Bank of Tanzania
The Bank of Tanzania issued regulations mandating that all goods and services within Tanzania be priced and paid for in Tanzanian shillings, prohibiting the use of foreign currency for local transactions. Exceptions exist for certain transactions, but contracts requiring foreign-currency payments are banned from 28 March 2025. Foreigners must exchange currency through banks or bureaux de change, though digital payments remain permissible.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-05-02•Chile•Central Bank of Chile
The Central Bank of Chile reported a 3.8% year-on-year increase in its Monthly Economic Activity Index (Imacec) for March, with goods production and trade showing significant growth. Goods production rose 4.4% annually, driven by manufacturing and mining, while trade increased 8.9%, mainly due to wholesale and retail activity. Services grew 2.7% year on year, led by personal services, particularly health care.
Data & statisticsEconomic data and developments
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2025-05-02•Canada•Payments Canada
Payments Canada has initiated a series of educational webinars to engage the public on the legal framework for the Real-Time Rail (RTR), Canada's upcoming real-time payment system. The webinars, covering topics such as RTR access, compliance, and fraud management, aim to prepare stakeholders for a public consultation. Recordings and bilingual Q&A sessions will be available on Payments Canada's website.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-05-02•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has released a consultation proposal to amend banking rules, aligning customer service channels with the Fintech Act's updates to the General Banking Act. The draft outlines minimum working hours, service mechanisms, and conditions, while maintaining flexible on-site service hours. The proposal also indicates the repeal of the 31 December banking holiday under the Fintech Act.
Policy & regulationRules & requirementsFintech and insurtech
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2025-05-02•Luxembourg•Ministry of Finance (Luxembourg)
The Luxembourg Ministry of Finance announced Finance Minister Gilles Roth's participation in the Eurogroup meeting to discuss G7 developments, global economic trends, and the digital euro. Euro area finance ministers will engage with the Chair of the Supervisory Board of the Single Supervisory Mechanism on banking union progress, focusing on digitalisation and climate change challenges. The Eurogroup will prepare for the European Stability Mechanism's annual meeting, reaffirming its role in the euro area's financial architecture.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-02•India•Securities & Exchange Board of India
The Securities and Exchange Board of India announced a memorandum of understanding between the International Financial Services Centres Authority and the National Institute of Securities Markets to enhance financial-sector capacity building. NISM will serve as a training partner for IFSCA and conduct certification exams for intermediaries registered with IFSCA. The MoU aims to elevate professional standards within the IFSCA ecosystem through skill development and training.
Policy & regulationCooperationCapacity building
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2025-05-02•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force approved for publication a report on money laundering vulnerabilities in the financial arrangements of non-traditional DNFBPs in the Caribbean. The report focuses on the motor vehicle sales sector and is intended to support mitigation of emerging AML risks. Official publication is planned for June 2025.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-02•Denmark•National Bank of Denmark
The National Bank of Denmark reported a DKK 5.5 billion increase in the foreign-exchange reserve in April 2025, reaching DKK 661.4 billion, driven by net foreign-exchange purchases and government debt repayment. The central government's net financing requirement was DKK 30.7 billion, while banks and mortgage-credit institutes' net position with the bank rose by DKK 29.7 billion. The bank's end-April balance sheet showed total assets and liabilities of DKK 707.3 billion, with foreign assets at DKK 567.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India announced the appointments of Shri Swaminathan S. Iyer and Shri Yaminathan S.R. as Whole-time and Full-time Members (Life), respectively, effective 1 May 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission (TTSEC) launched a National Investor Education Month in May 2025, themed "Investing in Knowledge. Investing in Community," to enhance public understanding of securities investing and the TTSEC's role. The initiative includes in-person outreach, media content, and a community roadshow, aligning with the TTSEC's investor protection mandate under the Securities Act, 2012. Activities feature educational sessions, presentations, and daily media content, coinciding with the TTSEC's 28th anniversary.
Financial literacy & educationFinancial literacy and education
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2025-05-02•Barbados•Central Bank of Barbados
The Central Bank of Barbados revised its 2025 macroeconomic outlook, lowering real GDP growth to 2.7% and raising inflation to 1.7–3.5%, citing a weaker external environment and trade-related uncertainty. Growth is expected to be driven by tourism, construction, and business services, supported by budget measures and climate-resilience initiatives. Despite risks from global economic conditions and tourism spending uncertainties, international reserves are projected to rise modestly, with fiscal planning targeting a primary surplus of 4.4% of GDP for FY2025/26.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-05-02•Caribbean•Eastern Caribbean Central Bank
Governor Timothy N.J. Antoine of the Eastern Caribbean Central Bank emphasized mobilizing financial resources for the Eastern Caribbean Currency Union's development needs during the 2025 Spring Meetings. He advocated for local capacity building in infrastructure, trade logistics, and energy security, urging multilateral development banks to enhance credit guarantees for low-income countries and small island states. Antoine highlighted catastrophe risk pools, like the Caribbean Catastrophe Risk Insurance Facility, as effective risk management models.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-05-02•Caribbean•Eastern Caribbean Central Bank
Eastern Caribbean Central Bank Governor Timothy N.J. Antoine outlined four collaboration priorities with the IMF amid global economic uncertainty. The agenda includes enhancing macroeconomic modelling, strengthening debt sustainability analyses, supporting green finance, and advancing data and AI strategies. These priorities were discussed at the IMF Western Hemisphere Department Director’s Meeting with Caribbean finance ministers and central bank governors.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-01•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority has approved Foods Gate Trading Company's capital increase from SAR 21 million to SAR 31.5 million through bonus shares. The increase will be executed by issuing one bonus share for every two existing shares, funded by transferring SAR 10.5 million from retained earnings. The company must hold an extraordinary general assembly within six months and comply with all regulatory requirements.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-01•Global•Financial Markets Standards Board
The Financial Markets Standards Board published a Spotlight Review on uncleared margin for over-the-counter derivatives, highlighting operational frictions and potential solutions, focusing on settlement fails and standing settlement instruction issues. The review suggests workflow changes and new technology to reduce dispute resolution times and plans collaboration with the International Swaps and Derivatives Association to promote market-wide adoption of solutions.
Research
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2025-05-01•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand released its response to submissions on three core prudential standards under the Deposit Takers Act 2023, detailing requirements for licensing, liquidity, and disclosure obligations. Changes aim to enhance regulatory efficiency and reduce compliance costs, with a separate response on capital standards forthcoming.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-05-01•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has permanently banned former financial adviser Neville Allan Kendrick from the Australian financial services industry, effective 22 April 2025. The order prohibits him from providing financial services, performing related functions, or controlling a financial services entity. ASIC determined Kendrick acted without a license, made misleading statements to investors, and demonstrated dishonesty, lacking the necessary fitness, propriety, training, and competence. He may seek a review of the decision by the Administrative Review Tribunal.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-05-01•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's research links the decline in New Zealand's natural rate of interest since 2000 to weaker labour productivity growth and a lower global natural rate, partially offset by higher population growth and increased labour force participation among older households. The study suggests persistently low natural and neutral rates may require alternative monetary policy tools when policy rates near the effective lower bound.
ResearchMonetary policy decisions and developments
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2025-05-01•Panama•Panama Superintendencia del Mercado de Valores
Panama's Superintendency of the Securities Market reminded registered issuers and investment companies to pay the 2024 annual supervision fee by the end of May. The fee for issuers is based on the market value of registered securities, while for investment companies, it is based on the average net asset value of participation units. Prior authorisation and submission of specific forms are required under Law 66 of 2016 and Agreement 11-2013.
SupervisionRegulatory reportingSupervision process and methodologies
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2025-05-01•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has released a guide for its Innovation Testing Licence, detailing how firms can access the regulatory sandbox and transition to full authorisation in the Dubai International Financial Centre. It outlines the licence's purpose, eligibility, application process, and obligations during testing. The launch precedes the Dubai FinTech Summit 2025, where the DFSA will discuss the ITL and other initiatives.
Policy & regulationGuidance & interpretationFintech and insurtechRegulatory sandbox
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2025-05-01•Denmark•National Bank of Denmark
The National Bank of Denmark released its 2024 oversight report on Danish financial infrastructure, emphasizing the criticality of payments systems, which processed an average of DKK 732 billion daily, and underscoring the importance of secure, efficient operations in line with international standards.
SupervisionReviews, inspections & stress testsFinancial and market indicatorsSupervisory data
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2025-05-01•Angola•Ministry of Finance (Angola)
Angola's Ministry of Finance, represented by Secretary of State Ottoniel dos Santos, aims to increase insurance penetration to 3% of GDP by 2029 and expand various insurance types, including agricultural and microinsurance. Despite premiums doubling from 2020 to 2024, penetration remains at 0.6% of GDP. The Angolan Agency for Insurance Regulation and Supervision (ARSEG) seeks to enhance supervision in line with International Association of Insurance Supervisors (IAIS) principles.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-05-01•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released its first ESG update, outlining supervisory priorities for 2025-2026 to enhance sustainability information reliability and ensure suitable sustainable products. It emphasizes accurate sustainability claims, compliance with the Sustainable Finance Disclosure Regulation (SFDR), and embedding sustainability in product oversight and governance. The AFM plans further updates on specific sustainability legislation themes later in the year.
SupervisionSupervision approach, priorities & toolkitESG
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2025-05-01•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela reported a 9.32% GDP growth in Q1 2025, surpassing the 9.13% growth in Q1 2024, marking sixteen consecutive quarters of recovery. Oil and mining sectors led with expansions of 18.23% and 13.46%, respectively. The growth is attributed to economic policy implementation despite external pressures such as an economic blockade and international instability.
Data & statisticsEconomic data and developments
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2025-05-01•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority reported that Bermuda (re)insurers anticipate nearly USD 10 billion in gross claim losses from the January 2025 Southern California wildfires. This estimate, based on the BMA’s US Data Claims Survey, excludes most of Bermuda’s insurance-linked securities sector, suggesting potential higher losses. Public estimates indicate economic losses of USD 250-275 billion and industry-insured losses of at least USD 30 billion, with Bermuda (re)insurers potentially covering up to 30% of insured losses.
Data & statistics
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2025-05-01•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council has reselected Charles G. Cooper to its State Liaison Committee (SLC) for a term from May 1, 2025, to April 30, 2027, and re-elected him as Chair for a one-year term ending April 30, 2026. Cooper, Commissioner of the Texas Department of Banking, oversees the regulation of 214 Texas state-chartered banks with assets totaling USD 426.6 billion. The SLC also includes members from North Carolina, Tennessee, New York, and Michigan regulatory bodies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-01•New Zealand•Department of Internal Affairs
The New Zealand Department of Internal Affairs has issued guidance for financial institutions on applying the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 to stored value instruments (SVIs), detailing regulatory exemptions. The guidance covers physical and electronic SVIs, like prepaid and gift cards, and outlines associated risks. Exemptions apply under conditions such as maximum value thresholds of less than USD 1,000 for cash-redeemable SVIs and USD 5,000 for non-cash-redeemable SVIs, with a reloadability cap of USD 10,000 annually. It also clarifies that credit cards, debit cards linked to financial accounts, and virtual asset instruments are not covered by SVI regulations.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-01•Global•International Organisation of Pension Supervisors
The International Organisation of Pension Supervisors released an implementation note to aid applying its 2019 guidelines on integrating ESG factors into pension fund investment and risk management. It provides practical examples from the pension and financial sectors to help implement guidelines on investment, risk management, disclosure, and ESG-inclusive scenario testing. It emphasizes that ESG expectations should apply to all investments, encourages clear supervisory expectations, and addresses issues like data gaps and greenwashing risks.
Policy & regulationGuidance & interpretationESG
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2025-05-01•United Kingdom•UK Parliament
The UK Parliament's House of Lords has completed the report stage scrutiny of the Property (Digital Assets etc.) Bill, aimed at clarifying the legal status of digital assets as property. The bill supports treating assets like crypto-tokens and non-fungible tokens as potentially capable of property rights, without declaring any specific category as property. Amendments discussed include codes of practice for digital assets and a review of the impact of treating them as property.
Policy & regulationRules & requirementsTokenization
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements published a working paper analyzing the impact of USD-backed stablecoin flows on US Treasury yields, finding that inflows compress 3-month Treasury bill yields by 2 to 2.5 basis points within 10 days. The study attributes approximately 70% of the yield effect to Tether (USDT) and 19% to Circle (USDC), highlighting implications for monetary policy transmission and financial stability risks.
ResearchStablecoins
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements published a working paper introducing "verifiable Total Value Locked" (vTVL) as a metric for decentralized finance, highlighting challenges in verifying TVL due to varying methodologies. Analyzing 939 DeFi protocols, the study found 10.5% rely on external servers and identified infrastructure-level double counting issues. The paper recommends guidelines for standardization and verifiability, including using on-chain data and standard balance methods.
Policy & regulationInternational standards & recommendationsDeFi
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing cross-border flows of Bitcoin, Ether, Tether, and USD Coin from Q1 2017 to Q2 2024, revealing these flows are less constrained by geographic frictions than traditional financial flows. The study highlights unbacked cryptoassets are linked to speculative motives, while stablecoins and low-value Bitcoin transfers are more transactional. Key findings include the United States and the United Kingdom as major nodes, a shift in activity from China to emerging markets, and the impact of global market volatility and monetary conditions on crypto flows.
ResearchCross-border paymentsStablecoins
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper on US private credit direct lending, noting secured loans now dominate the market, growing faster than unsecured loans. Secured loans are more common when lenders are less familiar with borrowers' industries or are geographically distant, typically featuring lower amounts, higher spreads, and longer maturities. The paper also highlights a rise in club deals and revolver loans, with banks increasingly participating alongside private credit lenders.
ResearchLendingMarket development
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa is seeking one international and three regional consultants for the West Africa Compliance Summit 2025 in Praia, Cabo Verde, on July 21-24. The roles cover development and delivery of training for chief compliance officers on emerging AML/CFT/CPF risks, FATF standards changes and implementation challenges under GIABA’s African Development Bank-financed capacity-building project. Expressions of interest are due by May 19, 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa will hold statutory meetings in Dakar from 11 May to 17 May 2025, with the 43rd plenary focused on second-round mutual evaluation follow-up reports and regional AML/CFT implementation issues. Ministers will then meet on 17 May to consider the plenary report, the third-round mutual evaluation calendar and other memoranda, including a membership application from Burkina Faso, Mali and Niger.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa has issued a regional report on money laundering and terrorist financing linked to cybercrime, identifying seven typologies from 52 cases. Advance fee fraud was the most prevalent pattern, and the report says weak laws, limited digital forensic capacity, and scarce parallel financial investigations are hampering enforcement. GIABA calls for stronger legal frameworks, more investigative capacity, and tighter regional and international cooperation.
ResearchAML and CFTCyber resilience
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa has issued a regional report finding that six Gulf of Guinea countries have weak legal implementation and poor interagency coordination in tackling money laundering, terrorist financing and illicit financial flows tied to maritime crime. The report says this limits detection, financial tracing and confiscation across crimes such as piracy, oil theft, illegal fishing and trafficking. It calls for risk assessments, stronger criminalization, formal information sharing and routine parallel financial investigations.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-05-01•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait hosted a monetary policy workshop with the International Monetary Fund’s Middle East Center for Economics and Finance, focusing on monetary policy in fixed exchange rate systems and the role of central banks in maintaining macroeconomic stability. The event, held from 28 April to 1 May 2025, emphasized the importance of aligning staff capabilities with international best practices.
Institutional developmentCooperation & capacity buildingMonetary policy decisions and developments
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2025-05-01•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan hosted a "Financial Literacy" festival in Norak on 30 April 2025, aimed at enhancing financial literacy and access to financial and insurance services. The event featured sessions on financial inclusion, securities market regulation, cash's role in the economy, fraud prevention, payment digitisation, and the insurance system.
Financial literacy & educationOther
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2025-05-01•Europe•European Central Bank
The European Central Bank's Financial Stability Review notes that private equity and credit financing boost productivity and investment in euro area firms but increase indebtedness and weaken interest servicing ability. Despite being smaller than traditional bank lending, significant cross-border activity and strategic bank partnerships pose risks. The ECB stresses the need for more monitoring due to data scarcity and opacity in assessing financial interlinkages.
ResearchMarket development
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2025-05-01•New Zealand•New Zealand Financial Markets Authority
New Zealand’s Financial Markets Authority announced that the High Court ordered Kok Ding Cheng to pay a NZD 198,000 penalty for trade-based market manipulation in Rua Bioscience Limited shares, following breaches of the Financial Markets Conduct Act 2013. The penalty will cover the FMA’s costs before being paid to the Crown.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile citizen reception in the Khachmaz district on 7 May to enhance consumer and investor rights protection. The event will address inquiries from residents of Khachmaz, Quba, Qusar, Siyazan, and Shabran districts, with Central Bank representatives providing support.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-05-01•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice amending details for Albert Kashafovich Shigabutdinov, who remains under asset freeze and trust services sanctions. Firms must verify relationships, freeze relevant assets, and report findings to the States of Guernsey Policy & Resources Committee. Compliance with statutory reporting and refraining from providing resources to designated persons is mandatory unless a permitted derogation or licence is granted.
Policy & regulationRules & requirementsSanctions list update
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2025-05-01•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 100,000 penalty on Kostyantyn Poshtarenko for unlicensed insurance agent activities. This action pertains to violations of the Insurance Act and Ontario Regulation 347/04. Poshtarenko did not seek a hearing or challenge the proposal.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-01•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority appointed Mr. Affendi Rashdi as Director General for a two-year term starting 1 May 2025, succeeding Mr. Nik Mohamed Din Nik Musa. Affendi previously served as Chief Services Officer at Bank Negara Malaysia, contributing to significant initiatives such as the review of the Development Financial Institutions Act 2012 and the establishment of SME Bank.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-01•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo summarized its participation in the IMF and World Bank Group 2025 Spring Meetings, highlighting macro-financial developments, financial-sector reforms, and payments modernization. Achievements include completing IMF-supported programs and progress towards joining the Single Euro Payments Area (SEPA). Discussions with IMF, ECB, and World Bank officials focused on legal reforms, financial stability, SEPA integration, and potential cooperation on international reserve management.
Policy & regulationCooperationCross-border cooperation
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2025-05-01•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) fined Immeubles Jack Sera Inc., operating as Royal LePage Classic, CAD 107,250 for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The penalty, issued on November 20, 2024, followed a 2022 compliance examination revealing failures in compliance policies, risk assessment, training, and program review.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-01•Canada•Payments Canada
Payments Canada has amended the Automated Clearing and Settlement System (ACSS) rules, effective April 28, 2025, to enhance bill payment incident management, improve payment tracing, and align pre-authorized debit requirements. Updates to Rules E3, F1, and F4 clarify participant responsibilities and improve incident resolution, while Rule H1 revisions reflect current practices. A new AFT Transaction Code Standard 007 will be introduced on July 1, 2025, to facilitate Canada Disability Payments.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-01•Canada•Canadian Securities Administrators
The Canadian Securities Administrators issued two staff notices to aid in implementing amendments to trade repositories and derivatives data reporting rules effective July 25, 2025. The package includes a FAQ document to clarify amended requirements and a template for reporting significant errors or omissions. These tools aim to ensure consistent compliance across CSA jurisdictions.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-05-01•Global•United Nations PRI
United Nations PRI, with the UNEP Finance Initiative and the World Business Council for Sustainable Development, launched the Nature Reporting Preparer Forum to boost adoption of nature-related financial disclosures per Taskforce recommendations. Supported by the International Climate Initiative, it focuses on Latin America and Southeast Asia, engaging investors, banks, insurers, and real economy participants to address nature-related financial risks and opportunities.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-01•United States•Office of the Comptroller of the Currency
Acting Comptroller Rodney E. Hood of the Office of the Comptroller of the Currency emphasized financial literacy's role in empowering underserved communities at the U.S. Department of the Treasury’s Financial Literacy Roundtable. He highlighted the agency's commitment to supporting banks' financial education initiatives, particularly in rural and Native communities, to enhance consumer wealth-building and financial system functionality.
Financial literacy & educationFinancial literacy and education
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2025-05-01•United States•Office of the Comptroller of the Currency
The US Office of the Comptroller of the Currency released Community Reinvestment Act performance evaluations for 25 national banks and federal savings associations from April 2025. Eleven institutions received Outstanding ratings, including Citibank and The Huntington National Bank, while 14 were rated Satisfactory. No institutions were rated as Needs to Improve or Substantial Noncompliance.
SupervisionReviews, inspections & stress testsOther
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2025-05-01•United States•Financial Crimes Enforcement Network
FinCEN issued a Section 311 finding and proposed rulemaking to designate Cambodia-based Huione Group as a primary money laundering concern, aiming to cut its access to the US financial system. The proposal would prohibit US financial institutions from maintaining accounts for Huione Group, linked to laundering USD 4 billion in illicit proceeds, including funds from North Korean cyber heists and Southeast Asia-based CVC scams. FinCEN highlighted Huione Group's ineffective AML/KYC controls across its network, including Huione Pay PLC, Huione Crypto, and Haowang Guarantee.
EnforcementSanctions & designationsNew sanctions designations
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2025-05-01•United States•Financial Crimes Enforcement Network
FinCEN, with OFAC and U.S. law enforcement, issued an alert urging financial institutions to report suspicious activities linked to oil smuggling by Mexican cartels. The alert details methodologies, red flag indicators, and Bank Secrecy Act requirements, highlighting Mexican brokers and U.S. companies' involvement in schemes involving billions in stolen crude oil. This follows OFAC sanctions against individuals and companies connected to these operations.
SupervisionAlertsAML and CFT