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2025-04-30•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved prospectuses for two corporate bond issues and registered equity issues for regulated-market trading. It adopted a draft ordinance on fees, launched a public consultation, and made authorisation decisions, including appointments and exemptions for specific entities. Additionally, the FSC set examination dates for brokers and investment consultants and requested further information from MarketVision Finance Ltd.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-30•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance, led by Minister Mario Marcel, unveiled the first National Financial Inclusion Strategy to expand access to regulated financial services and manage household debt risks. The strategy highlights a decline in household debt and savings data, alongside initiatives like the Fintech Law and a consolidated debt registry. The framework emphasizes safe, responsible use of financial products, requiring system-wide participation to address inclusion gaps.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-04-30•Europe•European Securities and Markets Authority
The European Securities and Markets Authority released its fifth Report on the Quality and Use of Data, detailing EU authorities' use of regulatory data and efforts to enhance data quality. The report includes practical use cases in market monitoring, supervision, enforcement, and policy making, highlighting ESMA's Data Platform and improvements to data quality frameworks. It also covers updates on data quality work for European Market Infrastructure Regulation REFIT datasets and short-selling frameworks.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2025-04-30•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released its annual transparency calculations for non-equity instruments and quarterly liquidity assessment for bonds under MiFID II and MiFIR. The assessments set liquidity classifications and transparency thresholds, with results available via the Financial Instruments Transparency System (FITRS) and the Register web interface. ESMA will continue quarterly updates, with bond liquidity results subject to revision based on new data.
Policy & regulationImplementation, projects & pilots
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2025-04-30•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendence of the Securities Market (SMV) has released financial information from supervised companies on the National Open Data Portal, offering free public and investor access in a standardized format. The dataset includes key financial accounts with a time series from 2000 to the present. Users are encouraged to reuse the data for developing new applications and services.
Data & statisticsActivity and performance reporting
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Quarterly Financial Accounts for the quarter ending December 2024, detailing aggregated financial assets and liabilities by economic sector. The report includes data on residents of Cyprus, non-financial corporations, financial institutions, government, households, and residents abroad, and is available in Greek and English.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its 2024 Annual Report, available exclusively in electronic format on the Bank's website.
OtherActivity and performance reporting
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2025-04-30•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority approved Al Rajhi Banking and Investment Corporation's application to register and publicly offer debt instruments under a programme valued up to SAR 10 billion. The prospectus, published before the subscription period, will include financial statements and issuance details. The approval confirms compliance with legal requirements but is not a subscription recommendation and is valid for six months.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-30•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of licensed finance companies to 66. This move aligns with SAMA's efforts to enhance the finance sector's efficiency and promote innovative financial solutions for inclusion. SAMA emphasized the importance of engaging only with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-30•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendency of Colombia aims to enhance financial and digital inclusion by expanding credit access and leveraging technology. A study on the 'silver' population's preferences is underway, with forthcoming guidelines on fair treatment for diverse groups, including LGTBIQ+ consumers and people with disabilities. These initiatives were discussed in a regional webinar before the III Congress of Sustainable and Inclusive Banking.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-04-30•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has disqualified Mohamed Chabib from managing corporations for five years due to his role as a director in four failed hospitality companies. ASIC identified misconduct, including failure to pay tax debts, inadequate record-keeping, and trading while insolvent. The companies owe unsecured creditors AUD 1,113,756, with significant debts to the Australian Taxation Office. ASIC's decision, supported by liquidator reports and the Assetless Administration Fund, is effective until 28 April 2030. Mr. Chabib can seek review by the Administrative Review Tribunal.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-04-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Cofinimmo financial instruments (ISIN BE0003593044) on Euronext Brussels. The suspension began on 30 April 2025 at 16:27 CET and will continue until a press release is issued.
SupervisionInterventionsTrading
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2025-04-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Aedifica's financial instruments on Euronext Brussels, effective from 30 April 2025 at 16:27 CET. The suspension will remain until a press release is published.
SupervisionInterventionsTrading
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2025-04-30•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported that the aggregate balance sheet total of Luxembourg credit institutions reached EUR 986,949 million at the end of March 2025, marking a 0.62% increase from February and a 3.10% rise year-on-year. The net interbank position grew by EUR 7,736 million (+3.22%), while loans to non-bank customers increased by EUR 1,269 million (+1.11%) month-on-month. Resident non-bank deposits rose by EUR 7,753 million (+2.57%) in March, with a notable increase in deposits from other financial intermediaries.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission signed a cooperation protocol with the State Intelligence and Security Service to enhance mutual cooperation and information sharing, targeting money laundering, terrorist financing, and weapons proliferation. The agreement includes staff training and capacity building, aiming to bolster investor protection and financial system integrity in Angola.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-30•Global•Financial Markets Standards Board
The Financial Markets Standards Board published a Statement of Good Practice on the governance of sustainability-linked products, outlining globally applicable practices to enhance governance frameworks and address credibility and greenwashing concerns. The guidance includes six Statements of Good Practice and a Risk Register aligned with existing asset class guidance from major associations.
Policy & regulationGuidance & interpretationESG
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2025-04-30•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo met with World Bank Group President Ajay Banga to discuss enhancing strategic cooperation on economic resilience, financial sector development, and institutional capacity building. Ismaili highlighted the importance of World Bank support for advancing the central bank's capabilities and acknowledged Kosovo's new role as a contributor to the International Development Association. The governor reiterated the commitment to deepen cooperation with the World Bank.
Institutional developmentCooperation & capacity buildingDomestic cooperation
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2025-04-30•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the IMF's Monetary and Capital Markets Department reaffirmed their cooperation to enhance Kosovo's financial stability and regulatory frameworks. Discussions between Governor Ahmet Ismaili and Tobias Adrian focused on macro-financial stability, regulatory advancement, and modern financial-sector frameworks. They also explored expanding technical cooperation in risk-based supervision, crisis preparedness, and cybersecurity.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority has endorsed a second catastrophe bond by Peak Reinsurance Company Limited, a USD 50 million issuance expanding coverage of natural peril risks in Hong Kong’s insurance-linked securities market. Issued via Black Kite Re Limited, the bond covers earthquake risks in Mainland China, Japan, and India, and typhoon risks in Japan. Since 2021, about USD 800 million in insurance-linked securities have been issued from Hong Kong, with a grant scheme extended until 2028.
Policy & regulationImplementation, projects & pilotsSecuritization
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released an article by Stelios Giorgakis, Director-General for Payment Supervision, analyzing the impact of a digital euro on traditional intermediaries. The article outlines measures to minimize disruptions and ensure a smooth transition.
Policy & regulationGuidance & interpretationCBDC
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2025-04-30•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a pilot project to liquidate the mutual venture non-diversified closed-end investment fund ASTON by transferring its assets and liabilities to JSC ZNVCIF GOLDFORT. Key approvals included corporate securities issuance, share registration for JSC ZNVCIF VINTAGE and JSC ZNVCIF MEGA FIN CAPITAL, and amendments to bond issues for KSG DNIPRO LLC. Additionally, the Commission determined that LLC "AMC SOLDIS" does not meet criteria for critical enterprise designation and approved a draft law on service regulation improvements.
SupervisionAuthorisations & approvalsOther
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2025-04-30•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of SAMA-licensed finance companies to 66. This move aligns with SAMA's goals to enhance the finance sector's efficiency and promote innovative financial solutions for greater financial inclusion. SAMA emphasized the importance of engaging with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-30•Nigeria•Ministry of Finance (Nigeria)
Nigeria’s Minister of Finance, Wale Edun, praised investment bank Chapel Hill Denham for its contributions to the financial system and capital markets at its 20th anniversary event. He highlighted improved foreign exchange market liquidity, deregulated fuel pricing, and structural reforms as key government initiatives. Edun also noted the firm's influence through alumni in major institutions and its role in domestic USD-denominated bond issuance.
Policy & regulationReform agendas & prioritiesMarket development
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2025-04-30•Peru•Central Bank of Peru
The Central Bank of Peru reported a 5.5% year-on-year increase in mortgage credit for home purchases in March, reaching PEN 71,248 million, driven by domestic currency loans. Soles-denominated mortgages rose 6.5% year on year to PEN 66,385 million, while dollarization remained low at 6.8%, reflecting a preference for soles to mitigate exchange-rate risk.
Data & statisticsLending
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2025-04-30•Peru•Central Bank of Peru
The Central Bank of Peru announced that its president, Julio Velarde, received the "Sanmarquina Medal of Honor" from the National University of San Marcos for his contributions to the country's welfare. Velarde emphasized the importance of monetary stability for growth, citing Peru's 1.3% inflation rate and its nearly 29-year record of single-digit inflation. University representatives praised his leadership in maintaining low inflation, a stable exchange rate, and international reserves.
Other
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2025-04-30•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador will start field operations for the 2025 Fifth Agricultural Census and First Fisheries Census on 2 May, deploying teams from 66 sub-sites nationwide. Over 6,700 personnel were hired and trained for data collection, supported by a USD 9.3 million investment in digital technology. This initiative follows the 2023 cartographic update and the 2024 population and housing census.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-30•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica reminded SINPE Móvil users to deactivate their old mobile number and register a new one with their financial institution when changing phone lines, especially for SMS-enabled transfers. The bank highlighted strong growth in SINPE Móvil, with 648 million transactions in 2024 and over 3.5 million subscribers. Users are warned that not updating their number could lead to misuse of funds, and financial institutions must offer a 24/7 SMS deactivation function.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-04-30•China•Ministry of Finance (China)
China's Ministry of Finance and the National Financial Regulatory Administration issued a joint notice to accelerate digitalisation of bank confirmations in audits, enhancing efficiency and quality. Measures include platform development, security standards, and operational requirements for banks and audit firms, focusing on digital confirmations and scalable applications. Banks are encouraged to improve data governance, streamline processes, and adopt digital solutions with incentives like differential pricing.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-04-30•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan, with InfraZamin, UK International Development, and the Private Infrastructure Development Group, hosted a seminar on financing environmentally sustainable projects through debt capital markets. Discussions highlighted credit enhancement's role in de-risking green bonds and attracting long-term investors. SECP leadership emphasized plans to streamline bond issuance, enhance disclosures, and expand credit enhancements to boost investor confidence.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-30•Georgia•National Bank of Georgia
First Vice Governor Ekaterine Mikabadze of the National Bank of Georgia attended a regional financial conference in Washington, D.C., discussing financial priorities to strengthen partnerships between Azerbaijan, Georgia, Türkiye, and the United States. She emphasized the demand for interconnected financial services due to rising economic activity along the Middle Corridor and highlighted cooperation on RTGS systems, IPS, and fintech initiatives. Mikabadze also addressed monetary policy risks, noting the bank's risk-based approach has maintained low inflation and focuses on price stability amid global uncertainty.
Policy & regulationCooperationCross-border cooperationMonetary policy decisions and developments
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2025-04-30•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia held an educational meeting at Kutaisi International University during Insurance Day events, focusing on insurance fundamentals and the actuarial profession. Led by Ana Kharatishvili, the session covered the role of actuaries, insurance history, and market overview, concluding with a Q&A. A Memorandum of Understanding will be issued to enhance student professional development in insurance, with plans for further educational projects.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Italy•Bank of Italy
The Bank of Italy, as Resolution Authority, published the 2024 annual accounts of the National Resolution Fund, detailing its balance sheet, income statement, and management report. The fund is a segregated asset pool distinct from the Bank's patrimony, with accounts prepared under Italian Civil Code principles. Recent regulatory changes delayed the publication deadline to April.
Data & statisticsRecovery and resolution
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2025-04-30•Italy•Bank of Italy
The Bank of Italy, as Italy’s National Resolution Authority, released the National Resolution Fund’s 2024 Annual Report, detailing financial statements and operational activities. The Fund's accounts adhere to the Italian Civil Code, with its capital segregated from the Bank of Italy’s capital. The report's publication timing aligns with 2023 amendments to reporting requirements.
Data & statisticsRecovery and resolution
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2025-04-30•China•Central Bank of the Republic of China
The People's Bank of China and national regulators issued a notice to standardize supply chain finance and electronic vouchers to support SME financing. The framework sets rules for enterprises, banks, and platforms, emphasizing prompt payments, reasonable costs, and risk management, while restricting information service institutions to non-financial roles without licenses.
Policy & regulationRules & requirements
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2025-04-30•China•Central Bank of the Republic of China
The People's Bank of China and the National Financial Regulatory Administration have revised the Management Measures for Bank Card Clearing Institutions, effective 1 November 2025, updating licensing, operations, and supervision requirements. The measures refine administrative licensing, introduce reporting obligations for overseas institutions, and set expectations for operations and supervisory management. Authorities will conduct outreach and update documents to ensure compliance and improved risk management frameworks.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-30•China•Central Bank of the Republic of China
The People’s Bank of China and the National Financial Regulatory Administration have issued revised rules for bank card clearing institutions, effective 1 November 2025, replacing the 2016 measures. The updated framework outlines licensing, operational, and supervisory requirements, including application conditions, administrative approvals, and risk management. Joint supervision by the two authorities will continue under the new regime.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-30•United States•National Credit Union Administration
In April 2025, the National Credit Union Administration (NCUA) issued two consent orders and one notice of prohibition, permanently barring three former credit union employees—Anh-Thu Nguyen, Amber Grabill, and Dorothy Ellis—from involvement with any federally insured depository institution. These actions are enforceable under Section 206 of the Federal Credit Union Act, typically applied in cases of legal violations or unsafe practices.
EnforcementInvestigations & enforcement actions
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2025-04-30•United States•National Credit Union Administration
The National Credit Union Administration liquidated Unilever Federal Credit Union due to insolvency, with no prospect of restoring viable operations. Member deposits are insured by the National Credit Union Share Insurance Fund up to USD 250,000. The credit union served 1,448 members and reported assets of USD 46.67 million.
SupervisionInterventionsRecovery and resolutionPrudential risks
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2025-04-30•Europe•European Banking Authority
The European Banking Authority (EBA) has launched a public consultation on draft amendments to its Regulatory Technical Standards (RTS) concerning risk weights for exposures secured by immovable property, driven by the revised Capital Requirements Regulation (CRR 3). The amendments update legal references to align with CRR 3 and propose aligning RTS on minimum loss given default (LGD) values for retail exposures secured by immovable property. The draft RTS are developed under Article 124(11) of Regulation (EU) 2024/1623, in collaboration with the European Systemic Risk Board.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-04-30•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier reported a decline in total net assets of undertakings for collective investment (UCIs) to EUR 5,749.779 billion as of 31 March 2025, down from EUR 5,957.264 billion the previous month, due to a negative financial market impact despite positive net capital investment. The number of UCIs decreased slightly to 3,124, with notable market performance linked to US tariff uncertainties and currency movements. The CSSF registered nine new UCIs and deregistered sixteen, highlighting ongoing adjustments in the sector.
Data & statisticsOther
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2025-04-30•Germany•BaFin
Germany’s Federal Financial Supervisory Authority (BaFin) reduced the sectoral systemic risk buffer for residential real estate financing from 2% to 1%, effective 1 May 2025, due to housing market stabilization and reduced overvaluation. The buffer, to be met with Common Equity Tier 1 capital, applies to risk positions involving German residential property mortgages. BaFin will request the European Systemic Risk Board to recommend reciprocal application by European Economic Area states to prevent circumvention through cross-border financing.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-30•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued an External Operational and Services Circular detailing fees for low-value payment systems managed by Banco de la República.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-30•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) will deprioritize enforcing its Small Business Lending rule under the Equal Credit Opportunity Act for entities outside the stay in Texas Bankers Association v. CFPB. Instead, the CFPB will focus on other consumer risks, including those affecting servicemen and veterans, citing fairness concerns. The Bureau aims to resolve the regulation's status to ensure fair treatment for all impacted entities.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protection
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2025-04-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for March 2025.
Data & statisticsSupervisory data
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2025-04-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency drafted a resolution to amend banking and microfinance regulations to curb consumer lending and household debt. Measures include bans on new loans to borrowers with significant overdue payments, restrictions on unsecured consumer loans over five years, and a 350% risk weight for loans over three years. The draft also caps the debt burden ratio for unsecured loans with maturities of three to five years at 0.25.
Policy & regulationRules & requirementsLending
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert about phishing messages linked to Industrial and Commercial Bank of China (Asia) Limited. The HKMA stressed that banks won't send messages with transaction hyperlinks or request sensitive information via phone, email, or SMS. Individuals who shared personal information or conducted transactions in response should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Hongkong and Shanghai Banking Corporation Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. It advised affected individuals to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the Exchange Fund's abridged balance sheet and Currency Board Account for 31 March 2025, reporting total assets of HKD 3,978.9 billion, a decrease of HKD 30.1 billion from February. The decline in foreign currency assets was due to withdrawals of Fiscal Reserves placements and reduced month-end balances of unsettled securities purchases, while Hong Kong dollar assets rose from increased bank placements. The Monetary Base increased by HKD 1.2 billion to HKD 1,977.1 billion, and the Backing Ratio rose to 110.55% due to interest income and revaluation gains.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) released analytical data on Hong Kong's foreign currency reserves and liquidity for March 2025, using the IMF's Special Data Dissemination Standard (SDDS) Template. This release is part of HKMA's monthly press releases on Exchange Fund data, aligning with the IMF's SDDS and transparency policy.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported March 2025 monetary statistics, noting a 0.8% rise in total deposits and a 1.1% increase in total loans and advances. Hong Kong dollar deposits grew 1.6%, while renminbi deposits fell 7.3% due to corporate fund flows. The release highlighted the volatility of monthly statistics, advising assessment over longer-term trends.
Data & statisticsMonetary data
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's March 2025 residential mortgage survey revealed a 29.3% increase in applications to 8,456, but a decline in approvals and drawdowns by 5.3% and 9.6%, respectively. Primary market lending approvals fell 16.8%, while secondary market approvals rose 6.2%. The outstanding mortgage loan value slightly increased to HK$1,877.7 billion, with a stable delinquency ratio of 0.13%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's end-March 2025 survey reports an increase in residential mortgage loans (RMLs) in negative equity, rising to 40,741 cases with an aggregate value of HKD 205.9 billion. The unsecured portion grew to HKD 16.4 billion, and the delinquency ratio slightly increased to 0.17%. Most cases involve bank staff housing loans or RMLs under the mortgage insurance programme, covering first mortgages in negative equity.
Data & statisticsAsset quality
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2025-04-30•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced the de-registration of Large Yacht Corporation Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 30 April 2025, in accordance with section 12(1)(a) of the Act.
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
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2025-04-30•Middle East•Arab Monetary Fund
The Arab Monetary Fund's Quarterly Bulletin reports mixed performance in Arab stock markets for Q1 2025, with the AMF Composite Index rising 1.55% and total market capitalisation falling 1.45% to USD 4.32 trillion. The divergence in market performance is attributed to new US tariffs and supply-chain pressures, partially mitigated by central banks' monetary policies supporting liquidity.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has re-registered and issued a new insurance licence to Bima, following its name change to Bima Insurance and Reinsurance Organization LLC. The previous licence granted to Bima Insurance Organization LLC was declared invalid.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-04-30•Europe•European Central Bank
The European Central Bank's 2024 Euro money market study shows a 38% increase in daily turnover to EUR 1.8 trillion, driven by secured and unsecured transactions and overnight index swaps, despite a decline in short-term securities and FX swaps. The study highlights a convergence of short-term rates towards the deposit facility rate and persistent arbitrage opportunities due to rate divergences. Key dynamics include declining excess liquidity, a shift to collateral abundance, and ECB policy adjustments affecting market activity and pricing.
Research
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2025-04-30•Europe•European Central Bank
The European Central Bank's Consumer Expectations Survey shows euro area consumers strongly prefer substituting away from US products if trade tariffs are imposed, with a median substitution score of 80. About 44% of respondents indicated a preference-driven shift, largely independent of tariff rates, with a median score of 95. The willingness to substitute correlates with higher household income and discretionary spending.
Research
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2025-04-30•Europe•European Central Bank
The European Central Bank's Economic Bulletin reviews the first national medium-term fiscal-structural plans under the revised Stability and Growth Pact, highlighting a shift to a Debt Sustainability Analysis-based approach. The article discusses the European Commission's proposal to use the national escape clause for increased defence spending, capped at 1.5% of GDP annually from 2025-28. While most plans align with fiscal requirements, deviations could weaken debt reduction in high-debt countries.
Policy & regulationGuidance & interpretation
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2025-04-30•Europe•European Central Bank
The European Central Bank's Governing Council has revised the Eurosystem's overnight credit facility for euro area central counterparties (CCPs), making it immediately available as a crisis-related liquidity backstop. Access is governed by the TARGET Guideline, with safeguards ensuring only financially sound CCPs with robust liquidity risk management can utilize the facility. Borrowing is priced at the ECB marginal lending facility rate, with overnight maturity and collateralisation requirements aligned with current provisions.
Policy & regulationRules & requirementsLiquidity riskCCPs
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2025-04-30•Europe•European Central Bank
The European Central Bank's Euro money market study 2024 reports a 38% increase in average daily turnover to EUR 1.8 trillion from end-2022 to end-2024, driven by banks adapting to declining excess liquidity and policy rate changes. Money market rates fully reflected ECB rate adjustments, with secured and foreign exchange swap transactions comprising over half of total turnover. Trading remained concentrated in short-term tenors, with non-banks as active counterparties, and secured trading with public institutions rose significantly following changes in deposit remuneration.
ResearchFinancial and market indicatorsSupervisory data
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2025-04-30•Jordan•Jordan Securities Commission
The Jordan Securities Commission attended the nineteenth annual meeting of the Union of Arab Securities Authorities. Discussions included the Union's 2024 achievements, financial position, and 2025 priorities, such as Islamic sukuk guidelines, fintech cooperation, and cyber risks. A proposal suggested forming working groups to implement the strategic plan, focusing on legislative convergence, AML cooperation, alternative finance, market risk guidance, sustainability principles, and capacity-building.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has launched an online registration system for Mutualistic Property Protection Associations, requiring registration by 15 July 2025 to continue operations. Associations must amend their bylaws to comply with Article 88-E of Decree-Law No. 73 before registering. Non-compliance will result in termination of activities and potential sanctions, with further rules on administrator authorization forthcoming.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-30•Spain•Bank of Spain
The Bank of Spain reported that Spain remained a net lender globally, with a current and capital account surplus of EUR 63.0bn (3.9% of GDP) over the 12 months to February 2025, up from EUR 58.1bn (3.8% of GDP) the previous year. The current account surplus was EUR 44.6bn, driven by a strong tourism surplus, while the capital account surplus rose to EUR 18.4bn, influenced by Next Generation EU-related flows. The financial account balance, excluding the Bank of Spain, reached EUR 113.8bn, with significant contributions from other and direct investments.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•South Africa•South African Reserve Bank
The South African Reserve Bank released its March 2025 template on international reserves and foreign currency liquidity, detailing official reserve assets at USD 67,450 million. The report includes USD 64,272 million in special drawing rights basket currencies and USD 3,178 million in non-basket currencies. It also outlines predetermined net drains and contingent liabilities, with significant outflows and positions in forwards and futures.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) extended its intervention in Portus Instituto de Seguridade Social until 30 June to complete steps for a February 2025 agreement. This includes starting pension contributions from sponsoring dock companies, paying benefit recomposition amounts, and finalizing debt composition terms. The intervention, ongoing since 2011 due to technical imbalances, may be lifted earlier if requirements are met, aiming to ensure the technical balance of Portus's benefit plans.
SupervisionInterventionsOther
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2025-04-30•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam and the Sustainable Finance Institute Asia hosted an ASEAN Taxonomy Board meeting and webinar on the ASEAN Taxonomy for Sustainable Finance. Discussions focused on developing Version 4 to expand coverage and practical use following Version 3's finalisation. Key topics included interoperability, alignment, and national taxonomy mapping for ASEAN Member States.
Policy & regulationInternational standards & recommendationsGreen taxonomy
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2025-04-30•Estonia•Finantsinspektsioon
Estonia's Financial Supervisory Authority (Finantsinspektsioon) fined Bondora AS EUR 200,000 for breaching responsible lending principles. The company failed to assess required consumer credit indicators and ensure contractual liabilities could be met, violating the Creditors and Credit Intermediaries Act. Bondora AS may contest the decision legally.
EnforcementInvestigations & enforcement actionsLending
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2025-04-30•Germany•German Bundesbank
The German Bundesbank released 2023 data on Germany's direct investment positions, noting stable outward investment at EUR 1,701bn and a 7% increase in inward investment to EUR 1,020bn. Outward investments concentrated in Europe, the Americas, and Asia, focusing on manufacturing and financial services. Inward investments were primarily in financial services and manufacturing, with the United States as the largest capital provider.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) and the Brazilian Financial and Capital Markets Association (ANBIMA) issued guidance on communication procedures for compliance events affecting Fundos de Investimento em Direitos Creditórios (FIDCs). This guidance is part of their cooperation agreement to enhance self-regulation in Brazil's fund industry.
Policy & regulationGuidance & interpretationDomestic cooperation
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2025-04-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its April 2025 update, introducing a new Integrity Plan and Resolution CVM 228, revising internal rules and establishing a Data Governance Office. It includes surveys on sustainability reporting and integrity, highlights increased crowdfunding activity, and details enforcement actions against entities for alleged irregularities. The CVM also imposed fines for voting and control failures, accepted settlement proposals, and issued guidance on public offerings and FIDC reporting.
Policy & regulationRules & requirementsCorporate governance
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2025-04-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia's Supervisory Board discussed amendments to its statute and reviewed procedures for nominating the next Governor, preparing for the 2025 selection. The Governor is selected by the Board and confirmed by the President of Estonia, with a term of seven years. Current Governor Madis Müller serves until June 2026.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-04-30•Estonia•Central Bank of Estonia
Estonia's Central Bank Governor, Madis Muller, warned that rising protectionism could cut Estonian economic growth by half a percentage point. The main impact would be indirect, affecting key export markets reliant on the US. He advised against retaliatory tariffs, advocating for alternative trade relationships and better use of the EU's internal market.
Monetary policyMonetary policy assessments & outlooks
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2025-04-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia, via Governor Madis Müller, warned that rising protectionism could impact small economies like Estonia, potentially reducing growth by half a percentage point. Estonia's key export markets are indirectly affected by US trade policies, discussed at recent International Monetary Fund and World Bank meetings. The remarks cautioned against Europe imposing high tariffs, advocating for maintaining trade relationships and enabling businesses to adapt supply chains.
Research
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2025-04-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has approved Methodological Guidance for financial institutions on conducting institutional risk assessments related to money laundering, terrorist financing, and proliferation financing. The guidance aligns with international practices and domestic legal requirements, mandating annual risk assessments and documentation under Azerbaijan’s AML/CFT law.
Policy & regulationGuidance & interpretationRisk management
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2025-04-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan released its annual Sustainable Finance Report, detailing 2024 measures under the Sustainable Finance Roadmap. The report aims to enhance financial sector transparency by disclosing actions on climate change-related risk management, structured around Azerbaijan’s socio-economic agenda, global climate risks, and future initiatives.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia fined JAGS Money Sdn. Bhd. MYR 6,000 for failing to comply with financial sanctions screening under the Money Services Business Act 2011. The breaches involved delays in updating the sanctions database and screening new customers. JAGS has since improved its procedures, and the penalty was paid on 17 March 2025.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia imposed a MYR 29,000 penalty on Merchantrade Asia Sdn. Bhd. for non-compliance with financial sanctions screening under the Money Services Business Act 2011. The breaches involved inadequate oversight and updating of sanctions databases. Merchantrade has enhanced its controls and training, and the penalty reflects various factors including severity and remedial actions.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-04-30•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has taken enforcement action against Safaghat W.L.L., a licensed crowdfunding platform, following an investigation. Safaghat has been instructed to cease services to existing clients and halt new client onboarding, while maintaining transparency with customers. The CBB is coordinating with relevant authorities to ensure financial system stability.
EnforcementInvestigations & enforcement actionsCrowdfundingCompliance
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia reported international reserves of USD117,486 million and other foreign currency assets of USD4.3 million as of end-March 2025. Over the next 12 months, pre-determined short-term outflows are USD11,994.6 million, with net short forward positions at USD26,836.5 million and projected foreign currency inflows of USD2,580.6 million. Contingent short-term net drains are limited to USD419.0 million in government guarantees, with reserves remaining usable.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) issued a warning against Wangro Antoun, also known as Yasser Antoun, for operating without a license in the Greater Toronto Area and Windsor. Antoun is allegedly misrepresenting himself as an insurance broker and offering discounted auto insurance premiums. FSRA advises consumers to verify broker licensing to avoid risks such as invalid policies and increased insurance costs.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-30•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority's Market Report 2024 highlights growth in core sectors, Islamic finance, digital services, and ESG-related business, with licensed entities reaching 838 by year-end. Key developments include a 21-fold increase in Shariah-compliant securities tokens to USD1.05 billion and growth in leasing and capital markets. The Director General outlined priorities for innovation, regulatory enhancement, and international visibility for Labuan IBFC.
Data & statisticsMarket development
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2025-04-30•Global•World Federation of Exchanges
The World Federation of Exchanges recapped WFEClear 2025, highlighting discussions on CCP design, risk management, and regulatory frameworks, with key topics including global CCP collateral, US regulation under Dodd-Frank, and challenges in 24/7 clearing and AI in margining. TMX Group was announced as the host for WFEClear 2026.
Policy & regulationCooperationCCPsMarket infrastructure
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2025-04-30•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has launched Phase 2 of its 2025 “Public Empowerment through Capital Market Knowledge Initiative,” seeking collaboration from capital market and digital asset operators, and financial associations. Participants must submit an expression of intention and a detailed education promotion plan to qualify for honorary recognition. Now in its third year, the initiative has engaged 43 organizations, with 22 participating in 2024, delivering financial education over 12 million times.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority and the National Agency for Strategic Management of State Holdings and Monitoring of the Performance of Public Institutions and Enterprises have enhanced their cooperative efforts.
Policy & regulationCooperationDomestic cooperation
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2025-04-30•United Kingdom•Bank of England
The Bank of England has launched its renewed Real-Time Gross Settlement service, RT2, as of 28 April 2025. This platform aims to enhance wholesale settlement efficiency and foster competition, aligning with the Bank's strategic objectives for RTGS and CHAPS. RT2 complements the 2023 introduction of ISO 20022 payments for CHAPS, targeting improved resilience, interoperability, and user functionality.
Policy & regulationImplementation, projects & pilotsMarket infrastructurePayments and payment systems
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2025-04-30•Malta•Central Bank of Malta
The Central Bank of Malta released its 2024 Annual Report in Valletta, with speeches from Acting Governor Alexander Demarco and other officials. The report covers economic, monetary, and financial developments in Malta and globally, along with organisational updates and financial statements.
Institutional developmentOtherAccounting and financial reporting
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2025-04-30•Malta•Central Bank of Malta
The Central Bank of Malta's Business Conditions Index indicated a slight improvement in annual business activity growth for March, remaining moderately above its historical average. Meanwhile, the Economic Policy Uncertainty Index increased from February, surpassing its historical average due to heightened global geopolitical tensions from trade tariffs.
Data & statisticsEconomic data and developments
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2025-04-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's April 2025 Economic Report highlights continued domestic business expansion and easing inflation, with the naira depreciating to NGN 1,595.05 per USD and external reserves rising to USD 38.92 billion. The report maintains a positive growth outlook for 2025, driven by oil sector reforms and foreign exchange market improvements, while cautioning on inflation risks and potential constraints from global oil demand and adverse weather.
Research
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2025-04-30•Europe•European Payments Council
The European Payments Council has published the "EDS Onboarding and Registration Guide" for Verification of Payee scheme participants and Routing and/or Verification Mechanisms to register for the EPC Directory Service. The guide offers step-by-step instructions and recommendations on choosing between standard onboarding and simplified registration, depending on the participant or RVM profile. It also includes guidance on obtaining a BIC and accessing APIs.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-04-30•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee decided to maintain the countercyclical capital buffer at 2.5% during its March 2025 meeting, citing financial stability risks and the resilience of financial institutions. The buffer remains at the upper end of the Committee's neutral range, with the last change implemented in March 2024.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-04-30•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority plans to extend the risk-weight floors for Swedish mortgage and commercial real estate exposures for two years under Article 458 of the Capital Requirements Regulation. The mortgage risk-weight floor remains at 25%, addressing concerns over banks' high domestic housing market exposure. For commercial real estate, the floors are 35% for property and 25% for residential property, reflecting ongoing sector risks and potential credit losses.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-30•United States•U.S. Financial Services Committee
U.S. House Financial Services Committee Chairman French Hill discussed efforts on payment stablecoin legislation and a digital asset market structure framework on the Crypto in America podcast, emphasizing crypto's transformative potential. Hill noted ongoing discussions with Senate counterparts to advance these bills. The Committee announced a joint hearing on 6 May focused on digital assets and innovation.
Policy & regulationRules & requirementsStablecoinsBlockchain and distributed ledger technology
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2025-04-30•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services advanced budget reconciliation provisions aimed at reducing the federal deficit, exceeding the USD 1 billion target set by the Concurrent Budget Resolution. Chairman French Hill noted the provisions were developed in response to President Trump's request to curb federal spending.
Policy & regulationRules & requirementsOther
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2025-04-30•Chile•Central Bank of Chile
The Central Bank of Chile has launched the National Financial Education Olympiad in collaboration with Inacap, marking its 100th anniversary. This initiative aims to enhance financial education among secondary students and teachers across Chile. The competition will progress from an online stage to in-person semifinals and a national final, promoting broad participation and engagement.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Chile•Central Bank of Chile
The Central Bank of Chile released its 2024 Integrated Report, detailing management and performance in its centenary year. The report, structured around the 2023–2027 Strategic Planning framework, covers economic management and environmental, social, and governance performance, alongside 2024 financial statements.
Institutional developmentOtherAccounting and financial reporting
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2025-04-30•Russia•Central Bank of Russia
The Central Bank of Russia's 2024 review showed non-governmental pension funds' portfolios exceeded RUB 8 trillion, driven by the long-term savings programme (LSP) and investment returns. In its first year, the LSP attracted 2.8 million participants, 50% of non-governmental pension coverage. Additionally, four new non-governmental pension funds entered the market, and Q4 saw a shift towards money market instruments and higher deposit allocations.
Data & statisticsFinancial and market indicators
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2025-04-30•Russia•Central Bank of Russia
The Central Bank of Russia has streamlined supervisory interactions with specialised depositories by limiting mandatory reporting to serious violations by management companies and joint-stock investment funds. A list of non-reportable cases has been established to reduce the operational burden on collective investment market participants, excluding temporary or technical breaches that pose no substantial risks.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-04-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released its 2024 annual report, highlighting alignment with strategic goals and a risk-based resource prioritization. Key areas include digitalization, data sharing, and enhanced reporting efficiency, alongside increased efforts against economic crime through industry collaboration. The report also notes the adoption of accrual accounting in accordance with Government Accounting Standards.
Institutional developmentGovernanceOperational excellence
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2025-04-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway announced the 2025 supervisory levy, totaling NOK 616,488,000, to be covered by supervised entities. The Norwegian Tax Administration’s State Collection Agency will handle invoicing, excluding entities wound up or losing their license in 2024. Separate fees apply to certain cross-border activities, including Norwegian agents of EEA payment institutions and non-Norwegian EEA UCITS management companies.
Policy & regulationRules & requirementsProcurement
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2025-04-30•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) inspected PricewaterhouseCoopers AS after errors in a public interest entity's 2022 financial statements were found, specifically regarding non-compliance with IAS 36 Impairment of Assets. PwC acknowledged audit weaknesses and has implemented remedial actions, including correcting the error in the 2024 accounts under IAS 8. Finanstilsynet will monitor PwC's measures in future supervisory activities.
SupervisionReviews, inspections & stress testsAuditing