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2025-04-10•Egypt•Central Bank of Egypt
The Central Bank of Egypt is overseeing a financial inclusion initiative offering fee-waived bank account openings and other services until the end of April for Arab Financial Inclusion Day. The campaign includes issuing prepaid and debit cards, e-wallets, and promoting financial literacy, with activities held in public locations in collaboration with various entities.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-04-10•United States•U.S. Securities & Exchange Commission
The SEC’s Division of Corporation Finance issued guidance on federal securities law disclosure for crypto asset offerings. Registration isn't required if a crypto asset isn't a security or part of an investment contract. The guidance highlights disclosure areas like development timelines and securityholder rights. The Division and the SEC’s Crypto Task Force are seeking feedback and developing further guidance on registration requirements for crypto asset issuers.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-04-10•United States•U.S. Securities & Exchange Commission
The U.S. SEC’s Division of Corporation Finance issued a statement clarifying federal disclosure requirements for crypto-asset offerings and registrations. It addresses common issues under Regulation S-K, emphasizing tailored business descriptions, robust risk factor discussions, and comprehensive descriptions of crypto assets. This aims to provide clarity while the SEC's Crypto Task Force develops a broader regulatory framework.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-04-10•United States•U.S. Securities & Exchange Commission
At the 44th Annual Small Business Forum, SEC Acting Chairman Mark T. Uyeda suggested revising capital formation rules to support smaller companies while ensuring investor protection. He proposed simplifying offering exemptions to reduce compliance costs for early-stage fundraising and revisiting the accredited investor framework for growth-stage companies. Uyeda also highlighted the need to update thresholds for small-cap public companies' reporting obligations, unchanged since 2005.
Policy & regulationReform agendas & prioritiesSME financing
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2025-04-10•United States•U.S. Securities & Exchange Commission
At the SEC’s 44th Annual Small Business Forum, the Director of the Office of the Advocate for Small Business Capital Formation emphasized the event's role in gathering stakeholder input to improve small business capital formation. Participants will prioritize recommendations across three lifecycle stages, with a report to Congress including the top five from each. The speech noted ongoing capital access challenges, despite small businesses creating 80% of net new jobs since 2011 and IPOs rising in 2024.
Policy & regulationReform agendas & prioritiesSME financing
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2025-04-10•Thailand•Bank of Thailand
The Bank of Thailand and Bank Negara Malaysia signed a Memorandum of Understanding to enhance cooperation on cybersecurity and digital fraud protection. The agreement aims to improve information sharing, capacity building, and best practice exchanges to bolster cybersecurity in both countries' financial sectors.
Policy & regulationCooperationCyber resilienceCross-border cooperation
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2025-04-10•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing and Macao's Secretary for Administration and Justice Zhang Yongchun discussed economic and financial developments in the mainland and Macao. They explored how capital markets can support the Hengqin Guangdong-Macao In-depth Cooperation Zone.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration outlined 2025 priorities focusing on full-chain governance and tighter risk control, following a review of 2024 progress in coordination and systemic approaches. The agenda emphasizes strengthening joint working mechanisms, stricter market-entry controls, improved monitoring systems, and expanded public education to address illegal financial activities and reduce legacy risks.
Policy & regulationReform agendas & prioritiesOther
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2025-04-10•Asia•Eurasian Group (EAG)
The Eurasian Group said its secretariat participated in a Financial Action Task Force Global Network meeting in Abu Dhabi focused on coordination for the next round of mutual evaluations. Secretariats exchanged best practices on how to support member jurisdictions and address operational challenges in the assessment process.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-10•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu highlighted the central bank's role in digital transformation at the Blockchain Intelligence Forum, emphasizing AI, blockchain, and cybersecurity advancements. She noted Moldova's progress in aligning financial legislation with EU standards amid its EU accession process. Dragu also discussed initiatives to modernize the payments system and align with the EU's Markets in Crypto-Assets Regulation (MiCA).
Policy & regulationReform agendas & prioritiesBlockchain and distributed ledger technologyArtificial intelligence
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2025-04-10•Moldova•National Bank of Moldova
The National Bank of Moldova released a draft decision amending its regulation on banks' governance, focusing on management bodies, board diversity, and conflict-of-interest management. Key updates include new definitions, enhanced oversight duties for boards, and tightened committee governance. The draft also addresses technology-enabled credit processes and introduces non-discrimination policies, with implementation set for five months after publication.
Policy & regulationRules & requirementsCorporate governance
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2025-04-10•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority announced amendments to the sanctions list against Belarus, effective 11 April 2025, as updated by the Swiss Federal Department of Economic Affairs, Education and Research. Financial intermediaries must implement prohibitions, freeze assets, and report affected relationships to the State Secretariat for Economic Affairs. Reporting does not exempt them from further clarifications under the Anti-Money Laundering Act, with mandatory reporting to the Money Laundering Reporting Office if suspicions persist.
Policy & regulationRules & requirementsSanctions list update
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2025-04-10•Argentina•Central Bank of Argentina
The Central Bank of Argentina and the People’s Bank of China have renewed the full activated portion of their bilateral swap arrangement, maintaining RMB 35 billion (USD 5.0 billion) available for an additional 12 months. This extension supports the Central Bank of Argentina's efforts to reduce risk during its transition to a sustainable monetary and exchange-rate regime amid challenging global capital flow conditions.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-04-10•South Korea•Bank of Korea
The Bank of Korea released preliminary 2024 flow of funds data, showing net lending by the total economy at KRW 116.6 trillion, a significant increase from KRW 46.8 trillion in 2023.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-04-10•Denmark•National Bank of Denmark
The National Bank of Denmark released climate-related indicators showing the Danish financial sector financed 11.8 million tonnes of CO2e in 2024 through investments in listed equities and corporate bonds, a 13% increase from 2023. The ten highest-emitting companies accounted for over 20% of financed emissions despite representing only 1% of investment value. The indicators exclude emissions from bank loans and unlisted securities, with plans to expand coverage as data becomes available.
Data & statisticsClimate risk and sustainable finance
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2025-04-10•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis on systemic risks emphasizes their impact on financial stability and methods for identifying vulnerabilities disrupting credit provision. It distinguishes systemic from institution-specific risks, focusing on collective behaviors causing self-reinforcing effects. The paper outlines cyclical and structural risks, citing housing market dynamics and climate-related risks, and reviews tools for identifying these risks without proposing specific mitigation measures.
ResearchFinancial stability and systemic risk
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2025-04-10•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released February 2025 statistics for credit cards, cash cards, and electronic payment institutions, detailing volumes, balances, retail sales, write-offs, and delinquency indicators. Taiwan had 32 credit card issuers with 58.75 million effective cards and a delinquency ratio of 0.3%. Electronic payments included 190.75 million stored value cards with NT$15.28 billion in stored value.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-10•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) reports on climate-related financial risks for UK private occupational pension schemes, urging small defined contribution schemes to improve governance or consolidate. It reveals inadequate trustee understanding in small schemes, with only 17% dedicating resources to climate risk, compared to 100% for master trusts. TPR emphasizes the need for trustees to address financial risks from climate change, pledging ongoing education and enforcement of statutory duties.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-10•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) has appointed Julian Lyne as interim Executive Director of Market Oversight and SV Rangan as Senior Advisor to enhance its financial services expertise. These appointments align with the 2023 Independent Review's recommendation for TPR to bolster its regulatory and sector expertise.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-04-10•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced the addition of four individuals to the UK Sanctions List under the Global Human Rights sanctions regime, subjecting them to an asset freeze in the Isle of Man. The designations relate to alleged failures to address serious violations during protests. Institutions must freeze assets of designated persons, avoid transactions unless legally exempt, and report to the Financial Intelligence Unit.
EnforcementSanctions & designationsSanctions list update
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2025-04-10•Palestine•Palestine Monetary Authority
Governor Yahya Shunnar of the Palestine Monetary Authority attended a high-level session in Kuwait on development goals amid financial uncertainty and debt risks. Organized by the Arab Monetary Fund and the Arab Fund for Economic and Social Development, with the International Monetary Fund and the World Bank, the session highlighted challenges like growing debt burdens and limited fiscal policy space in Arab countries. Shunnar emphasized the need for adaptable financial policy tools to enhance resource efficiency, expand social protection, and ensure equitable opportunity distribution.
Policy & regulationReform agendas & priorities
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2025-04-10•Palestine•Palestine Monetary Authority
PMA Governor Yahya Shunnar met with the IMF and AMF in Kuwait to enhance cooperation and support for the Palestinian economy and banking sector. Discussions with the IMF focused on financial stability, economic growth, and technical assistance, while the AMF meeting addressed digital transformation, financial inclusion, and economic reform. Both meetings underscored the PMA's commitment to international best practices and the readiness of the IMF and AMF to support these initiatives.
Policy & regulationCooperationCross-border cooperation
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2025-04-10•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Abu Dhabi Global Market Financial Services Regulatory Authority (FSRA) warned about scams using FSRA-licensed firms' names to deceive individuals into making payments or investing in fake opportunities. These scams appear professional and spread through fake websites and social media. The FSRA advises verifying identities through official channels and checking the ADGM Registration Authority’s Public Register for authenticity and regulatory status.
SupervisionAlertsFraud and scams
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2025-04-10•Caribbean•Eastern Caribbean Central Bank
Eastern Caribbean Central Bank Governor Timothy N.J. Antoine discussed geopolitical impacts and a tariff war, noting risks like inflation and slowing growth affecting tourism recovery. He emphasized the EC dollar's strength, supported by high reserves, and outlined priorities: a "growth mindset," food and energy security, and regional integration. Antoine advocated for a less seasonal tourism model, remote work opportunities, and a data and AI strategy to address regional data deficits.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsMonetary policy decisions and developments
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2025-04-09•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission and the French Financial Markets Authority propose revising the EU Pilot Regime for DLT market infrastructures to boost competitiveness and effectiveness. Key proposals include a flexible approach based on project size, expanded authorisation for electronic money tokens, increased eligibility and capitalisation limits, and improved interoperability with traditional systems. Despite its March 2023 introduction, market uptake has been limited.
Policy & regulationRules & requirementsBlockchain and distributed ledger technology
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2025-04-09•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission adopted supervisory and authorization decisions, including revoking its application of certain EIOPA guidelines. It approved VC Investment Group AD’s BGN 5,000,000 bond issue and registered Republika Holding AD’s share issue. Additionally, it made several executive appointments, removed an insurance broker from the register, and addressed licensing and exam admissions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-09•France•France Autorite des marches financiers
The French Financial Markets Authority and the Italian Companies and Exchange Commission have proposed joint measures to the European Commission to recalibrate the EU Distributed Ledger Technology Pilot Regime due to limited market uptake. Key proposals include enhancing flexibility, expanding the regime's scope, and promoting interoperability with traditional infrastructures. These measures aim to support consistent supervision, broaden eligible assets, and improve adoption of DLT-issued financial assets.
Policy & regulationRules & requirementsBlockchain and distributed ledger technology
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2025-04-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority has opened a public consultation on a draft framework to improve rules for offering and listing share types, including disclosure and capital increase requirements. The draft enhances disclosure for redeemable shares, conversion disclosures, and capital increase frameworks, allowing new share types to be registered. It also proposes a notification requirement for owning 5% or more of an issuer’s voting rights, replacing the current trigger based on total shares.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-09•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has initiated the process to appoint a new external member to its Monetary Policy Committee, with the appointment expected by the end of September and the new member starting on 1 October 2025. The selection will be based on expertise in monetary policy, macroeconomics, and understanding of conflicts of interest, with external members serving up to four years and eligible for reappointment.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-09•Colombia•Central Bank of Colombia
The Central Bank of Colombia released Board of Directors Bulletin 16 of 2025, detailing the Unidad de Valor Real (UVR) values effective from 16 April to 15 May 2025, in accordance with External Resolution No. 13 of 2000.
Monetary policyMonetary policy instruments & operationsOther
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2025-04-09•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro and the United Nations Development Programme have partnered under the FINSTEM project to advance digital transformation and modernize Montenegro’s financial sector. The agreement focuses on aligning with European standards, enhancing digital infrastructure, fostering innovation, and promoting sustainable financial practices. It also aims to strengthen system security and resilience while supporting EU regulatory harmonization.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable finance
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2025-04-09•Israel•Bank of Israel
The Bank of Israel's quarterly Credit Officers Survey reveals increased consumer and housing credit demand in Q1 2025, with moderated growth among micro and small businesses and eased credit terms across most segments. Looking to Q2, banks anticipate continued consumer credit growth, stable housing credit demand, and rising construction industry demand, with easing supply conditions driven by competitive pressures and high capital ratios.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-09•India•Reserve Bank of India
The Reserve Bank of India updated the penal interest rates for banks' shortfalls in cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements, following a 25 basis point reduction in the Bank Rate to 6.25%. The penal rates are now set at Bank Rate plus 3.0 percentage points or 5.0 percentage points, resulting in revised rates of 9.25% and 11.25%, respectively.
Monetary policyMonetary policy instruments & operationsPrudential risksLiquidity risk
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2025-04-09•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) confirmed the Polish Short-Term Rate (POLSTR) as the benchmark to replace WIBOR and WIBID, with publication set for Q2 2025. The roadmap includes adopting full Benchmarks Regulation documentation for POLSTR and preparing for POLSTR-referenced PLN Treasury bonds by December 2025. In 2026, the plan anticipates increased issuance of POLSTR-based bonds and derivatives, with a potential regulatory event under Article 23c(1) of the Benchmarks Regulation to formalize the transition.
Policy & regulationReform agendas & prioritiesFinancial benchmarks
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2025-04-09•Ghana•Ghana National Insurance Commission
The Ghana National Insurance Commission and the Nairobi Declaration Secretariat hosted Africa’s first Sustainability Insurance Conference in Accra. The event focused on integrating sustainability and climate resilience into insurance, discussing sustainable underwriting and climate risk mitigation. Key figures emphasized the need for African regulators to adopt Environmental, Social, and Governance principles and climate risk disclosures in regulatory frameworks.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-04-09•United States•Federal Reserve Board
The Federal Reserve Board's research examines the impact of the secular decline in US real interest rates since the 1980s on wages, unemployment, and earnings inequality. The study finds that lower real rates reduced labor’s share of output and the unemployment rate while increasing earnings inequality, driven by rising household debt and wage dispersion. Quantitatively, the decline in real rates led to a 6 percentage point fall in labor’s share, a 0.3 percentage point drop in the unemployment rate, and an increase in earnings variance from 0.66 to 0.75.
Research
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2025-04-09•United States•Federal Reserve Board
The Federal Reserve Board's research paper evaluates the impact of monetary policy rules that incorporate long-run inflation expectations. Findings suggest these rules enhance inflation anchoring, reduce macroeconomic volatility, and mitigate effective lower bound risks. The approach aligns with current central bank communication strategies, complementing existing policy discussions.
Research
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2025-04-09•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released results of its 2024 Common Supervisory Action on ESG disclosures under the Benchmarks Regulation, recommending amendments to BMR Level 2 measures to reduce regulatory burden and improve ESG transparency. ESMA will work with National Competent Authorities and the European Commission to ensure consistent supervision of ESG disclosures across the EU.
SupervisionReviews, inspections & stress testsDisclosuresESG
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2025-04-09•Australia•Council of Financial Regulators
Australia's Council of Financial Regulators, following its 9 April meeting, highlighted ongoing global financial market volatility and affirmed the strength of the Australian financial system. The Council stressed the importance of robust information security controls for superannuation funds, including multifactor authentication, amid recent cyber-attacks, with continued coordination with the Government and trustees.
Policy & regulationCooperationFinancial stability and systemic riskCyber resilience
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2025-04-09•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority hosted a 12-member delegation from Eswatini for a study visit on insurance market supervision and regulatory matters. Discussions included Tanzania's insurance market, legal framework, supervisory powers, and ICT systems, as well as TIRA's priorities like the Universal Health Insurance law and an agricultural insurance consortium. Eswatini aims to enhance its legal framework and continue cooperation with TIRA.
SupervisionCooperationDomestic cooperation
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2025-04-09•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE signed a Memorandum of Understanding with the National Bank of Kazakhstan and the Agency of the Republic of Kazakhstan for Regulation and Development of Financial Market to enhance cooperation and information exchange. The MoU focuses on best practices and regulatory approaches in financial markets, FinTech, and central bank digital currencies, including cross-border CBDC transactions. It also includes collaboration on Islamic banking, cybersecurity, and technical cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-04-09•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange are seeking stakeholder feedback on proposed amendments to PSX regulations for listing companies via court-sanctioned schemes. The draft framework allows unlisted companies to gain listing status through demergers of business segments from listed companies, subject to specific criteria. The amendments aim to address the trend of unlisted companies bypassing public offering and listing requirements.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-09•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) warned about unauthorized online trading platforms like Qxbroker (Quotex) targeting Pakistani investors with high-risk products without regulatory approval. SECP highlighted risks of fraud and total investment loss, urging the public to avoid such platforms and verify entities via SECP's authorized list. The issue has been referred to the Federal Investigation Agency, Pakistan Telecommunication Authority, and Google for action.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-09•North Macedonia•National Bank of the Republic of North Macedonia
Governor Anita Angelovska-Bezhoska of the National Bank of the Republic of North Macedonia stressed the importance of formal financial education over unverified online sources during Global Money Week. She highlighted research showing young people's reliance on internet influencers for financial advice and noted gaps in financial literacy and account ownership in North Macedonia compared to the EU. Angelovska-Bezhoska called for collaborative efforts to enhance early-age financial education.
Financial literacy & educationFinancial literacy and education
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2025-04-09•Czech Republic•Ministry of Finance (Czech Republic)
The Czech Republic's Ministry of Finance and the Czech National Bank advised against setting a target date for euro area entry, citing unmet Maastricht criteria and structural economic challenges. The assessment highlighted strong trade links and a robust banking sector but noted real convergence gaps and fiscal sustainability issues. Recommendations include aligning any future target date with an electoral cycle's start for effective preparation and coordination.
Policy & regulationGuidance & interpretationEconomic data and developments
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2025-04-09•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance plans a national ATM network with commercial banks for free cash withdrawals at any participating ATM. This replaces an earlier proposal for five free withdrawals at other banks' ATMs, which the Croatian National Bank warned could threaten banks' stability. A draft memorandum will be sent to banks for comments, with the provision for five free transactions likely to remain in the bill with a suspensive clause.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-09•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority’s Investor Education Foundation released preliminary findings from its National Financial Capability Study, showing state-by-state variation in financial knowledge and improved understanding of inflation. Based on a quiz of over 25,500 US adults, Minnesota led with 34.78% answering at least five questions correctly. Nationally, 27% achieved this benchmark, with notable gains in inflation understanding among 18 to 34 year olds.
Financial literacy & educationFinancial literacy and education
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2025-04-09•Sweden•Riksbank
Sweden's Riksbank has opened its settlement system, RIX, to payment and electronic money institutions, allowing them to apply for participant status from 9 April. This move follows amendments to the Settlement Act and aims to enhance competition and foster innovative payment solutions.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-04-09•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The European Union's Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) has signed a lease for new office space in Frankfurt’s MesseTurm, establishing its first official seat in the city. AMLA will occupy the tower’s top floors, formalizing its long-term presence and enhancing its connection with Frankfurt.
Institutional developmentProcurementHiring and recruitment
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2025-04-09•Europe•Authority for Anti-Money Laundering and Countering the Financing of Terrorism
The European Union’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism has signed a lease for new office space in Frankfurt's Messeturm, formalizing its long-term presence in the city. The agency has been hosted in the building since the start of the year.
Institutional developmentProcurementHiring and recruitment
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2025-04-09•Austria•Austrian National Bank (OeNB)
The Austrian National Bank reported Austrian banks' profit after tax and minority interests at EUR 11.5 billion in 2024, down EUR 1.1 billion from 2023. Operating income rose to EUR 37.4 billion, driven by net interest income and trading results, despite higher administrative expenses and depreciation. The OeNB emphasized using strong earnings to bolster capital and corrected the 2023 after-tax result to EUR 12.6 billion following audited adjustments.
Data & statisticsFinancial and market indicatorsActivity and performance reporting
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2025-04-09•Global•International Financial Reporting Standards Foundation
The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures signed a Memorandum of Understanding to enhance collaboration on nature-related financial disclosures. The agreement supports the ISSB's Biodiversity, Ecosystems and Ecosystem Services research project and aims to improve SASB Standards. Future standard setting will follow the IFRS Foundation's due process, including public consultation.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-09•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 Lombard Astana Gold LLP's licence for microfinance activities due to inactivity for six months. Borrowers must still fulfill their obligations under existing microcredit agreements despite the licence revocation.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-04-09•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 and the Central Bank of Azerbaijan held a bilateral meeting in Baku to discuss financial stability, regulation, and strategic priorities. They agreed to sign a memorandum of understanding to enhance cooperation. Discussions included Kazakhstan's risk-based supervision, recent banking legislation changes, and supervisory digitisation initiatives.
Policy & regulationCooperationCross-border cooperation
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2025-04-09•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency announced Mazhilis' second-reading approval of a draft law to enhance the financial market and consumer protection. Key measures include easing foreign bank entry, streamlining senior role approvals, and tightening unsecured consumer lending controls. The amendments also address fraud prevention, expand the National Bank's Anti-fraud Centre, and introduce various financial market and consumer protection provisions.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-09•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 declined to approve Kymbat Nakyzbekovna Ualihanova as deputy chief accountant and Gani Kaipbergenovich Muratbayev as deputy chair of the management board in the banking sector. This decision was based on protocols No. 22/БВУ/Т and No. 23/БВУ/Т dated 31 March 2025.
SupervisionAuthorisations & approvalsHiring and recruitment
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2025-04-09•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance previewed the informal EU finance ministers' meeting in Warsaw on 11–12 April, focusing on financial market competitiveness, security and defence financing, and geopolitical challenges. Central bank governors, including Finland's Olli Rehn, will participate in the financial markets discussion. The Eurogroup will address economic developments and euro area policy coordination.
Policy & regulationCooperationGeopolitical risk
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2025-04-09•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Institute for Monetary and Financial Research released a report on Generative AI in financial services, highlighting its steady adoption among financial institutions in Hong Kong. The report identifies key constraints such as model accuracy, data privacy, and resource limitations, while noting that technological advancements and regulatory engagement may facilitate broader adoption.
ResearchArtificial intelligence
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2025-04-09•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's Governing Council approved revised designs for the Bulgarian national side of euro coins, with the only change being the issue year "2026". The designs, prepared by Mint EAD, comply with Council Regulation (EU) No 729/2014 and include mandatory elements like the 12 EU stars and the country name in Cyrillic. Optional elements feature Cyrillic denomination wording and motifs from current Bulgarian coins.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-09•Ghana•Bank of Ghana
Bank of Ghana Governor Dr. Johnson P. Asiama announced a 100 basis point increase in the policy rate to 28.0% to support disinflation, urging banks to adjust lending rates prudently. He noted concerns over elevated inflation expectations, core inflation, and credit risk, with a non-performing loan ratio of 22.57%. The Governor emphasized the need for recapitalization strategies, enhanced cybersecurity, AML compliance, and sector engagement on trade finance and cross-border payments.
Monetary policyPolicy rate decisionsMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-04-09•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye has suspended AcnTurk Sigorta AŞ’s authority to issue and renew insurance contracts across all branches. This action, under Article 20 of Insurance Law No. 5684, will persist until the company demonstrates the cash transfer of the required capital to its accounts.
SupervisionInterventionsLicence withdrawal
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2025-04-09•Qatar•Qatar Central Bank
Qatar Central Bank Governor H.E. Sheikh Bandar bin Saoud Al Thani met with Steven Mnuchin, Founder of Liberty Capital, to discuss key global financial and investment developments.
Other
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2025-04-09•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission launched its 2025 Songkran travel safety and insurance promotion campaign to enhance access to motor and travel accident insurance, focusing on family and older-person protection. The initiative includes two microinsurance policies priced at THB 10, offering death cover up to THB 100,000 and home safety cover up to THB 30,000. The campaign also features health and financial planning advice and road safety support during the "seven dangerous days" period.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-09•Middle East•Arab Monetary Fund
The Arab Monetary Fund signed a Memorandum of Understanding with Somalia to restructure its over 40-year debt, aiming to alleviate financial burdens and support economic reform and sustainable development as part of the AMF's new strategy for Arab countries.
Policy & regulationImplementation, projects & pilots
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2025-04-09•San Marino•Central Bank of San Marino
The Central Bank of San Marino's Quarterly Information Bulletin reports improved banking system indicators as of 31 December 2024, with increased system funding and strengthened asset quality. Total funding rose by EUR 139 million to EUR 6.493 billion, and non-performing exposures decreased significantly. The bulletin also details new regulations on SEPA payments and investment services, effective in late 2024 and early 2025, respectively.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-09•San Marino•Central Bank of San Marino
The Central Bank of the Republic of San Marino clarified that Dr. Gian Luca Belluzzi declined the role of President of the CBSM Board of Auditors, with Pier Angela Gasperoni continuing in the position. The bank refuted claims of instability in San Marino’s banking institutions, highlighting resilience confirmed by international bodies and credit rating agencies, and noted ongoing technical strengthening over the past three years.
Policy & regulationGuidance & interpretationAuditing
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2025-04-09•Europe•European Central Bank
The European Central Bank's Working Paper finds that legal reforms enhancing central bank independence correlate with reduced excess money growth and improved credibility, with full effects manifesting after ten years. A one-percentage-point increase in the independence index leads to a 21% reduction in excess money growth and a 13% credibility boost, especially in democracies and high public debt environments. The impact is less significant in inflation-targeting and fixed-exchange-rate regimes.
ResearchOther
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2025-04-09•Europe•European Central Bank
The European Central Bank released the fourth progress report on the digital euro Rulebook Development Group's efforts to draft a digital euro scheme rulebook. The report details updates to rulebook sections based on over 2,000 comments, progress in workstreams with market participants, and developments in brand rules, risk management, and implementation specifications. The draft rulebook aims to remain adaptable to future legislative outcomes, with a potential issuance decision pending legislative adoption.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-04-09•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan participated in the 14th Annual Investment Meeting Congress in the UAE, where Deputy Chair Gulbahor Naziri highlighted Tajikistan's financial system and investment opportunities, particularly in green finance. Discussions included attracting financing for the Rogun hydropower plant and strengthening economic ties with the UAE.
Other
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2025-04-09•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has mandated registration for associations involved in property and personal risk protection activities under Complementary Law No. 213/2025. Associations must amend their bylaws and register with SUSEP within 180 days or cease operations, facing potential sanctions. Registration will be conducted via a new system on SUSEP’s website, with further procedural details to be announced.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-09•Spain•Bank of Spain
Bank of Spain Governor José Luis Escrivá, in an interview on TVE’s La Hora de la 1, addressed the potential economic impacts of international uncertainty.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2025-04-09•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten has launched an APR Calculator on its website to help consumers estimate borrowing costs and compare loans. It calculates APR by considering loan amount, repayment details, and up-front charges, with a maximum APR cap of 27% for CBCS-licensed credit providers. Consumers are urged to report offers exceeding this cap and borrow only from supervised institutions.
Financial literacy & educationConsumer and investor protection
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2025-04-09•Armenia•Ministry of Finance (Armenia)
Armenia's Finance Minister Vahe Hovhannisyan attended the 14th Annual Global Investment Conference in Abu Dhabi, discussing bilateral cooperation with the Abu Dhabi Stock Exchange. Talks focused on expanding financial markets and promoting new investment, with emphasis on Armenia's economic reforms and the Armenian Stock Exchange's role in the "Tabadul" digital exchange hub.
Policy & regulationCooperationOther
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2025-04-09•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic issued a circular requiring fiduciary service providers to ensure comprehensive and timely information access for all trust parties. It applies to fiduciary firms linked to financial intermediation entities and banks, mandating disclosure of trust deeds, settlor and beneficiary identities, and trust terms. Fiduciaries must designate trained staff to address client inquiries and ensure real-estate trust promoters provide prospective buyers with pertinent information.
Policy & regulationRules & requirementsFiduciary duty
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2025-04-09•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission plans to develop a legal framework and pilot market for crypto assets, as discussed by Deputy Minister of Finance Do Thanh Trung. The Ministry of Finance is coordinating with other ministries to assess market conditions and international regulatory experiences, recommending government recognition of crypto assets' potential. A draft Government resolution is being prepared, with inputs from relevant ministries and legal appraisal from the Ministry of Justice.
Policy & regulationImplementation, projects & pilotsFintech and insurtechTokenization
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2025-04-09•United Arab Emirates•National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC)
The United Arab Emirates' anti-money laundering committee convened the first retreat of all Financial Action Task Force Global Network Secretariats. Participants shared best practices and addressed challenges in supporting member countries through the upcoming round of mutual evaluations.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-09•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation and blocking of insurance intermediation through four unauthorized websites, with internet service providers in Italy facilitating the shutdown. Since November 2023, IVASS has issued cessation orders for 229 sites, advising consumers to verify the legitimacy of insurance offers online and consult IVASS registers for authorized insurers and intermediaries.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-09•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) Board accepted a settlement proposal from Carlos Alberto Bezerra de Moura, investor relations director of Raízen S.A., closing Administrative Sanctioning Proceeding PAS 19957.008609/2024-31. The settlement, involving a payment of BRL 330,000, follows a revised offer after initial rejection by the Commitment Term Committee. The proceeding addressed alleged misleading information in a market announcement, potentially breaching CVM Resolution 80.
EnforcementInvestigations & enforcement actionsOther
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2025-04-09•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission has unveiled reforms to enhance the corporate financing role of comprehensive financial investment business entities (CFIBEs). Measures include expanding CFIBEs' corporate credit, revamping the Investment Management Account regime, and imposing a 25% venture capital funding requirement. The reforms tighten real estate concentration limits, introduce risk controls, and incentivize overseas expansion, with implementation expected through regulatory amendments and a legislative bill later this year.
Policy & regulationRules & requirementsCorporate governance
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2025-04-09•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) issued a public alert regarding "MBus Exchange" for unauthorized use of the AFSA logo and misleading claims of regulation. AFSA confirmed that "MBus Exchange" is not licensed and its activities may constitute potential criminal offences under Kazakhstan's Criminal Code. The public is advised to verify firms through AFSA’s Public Register and avoid engaging with the entity.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-09•Malaysia•Malaysia Securities Commission
Malaysia's Federal Court upheld the Malaysia Securities Commission's civil insider trading action against Dato’ Sreesanthan Eliathamby, confirming that insider trading provisions require knowledge of non-public information. The court ordered Eliathamby to pay MYR 3,239,402, including costs, penalties, and a ten-year director disqualification.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-04-09•Papua New Guinea•Bank of Papua New Guinea
The Bank of Papua New Guinea unveiled a new executive structure as part of its Vision 2050 roadmap, appointing key leaders across monetary policy, financial operations, and other functions, with plans to recruit additional senior roles to enhance financial system stability and development.
Institutional developmentLeadership change & appointmentsOrganizational structure
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2025-04-09•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain and SWIFT hosted Bahrain’s annual SWIFT national user group meeting in Manama, focusing on cross-border payments and messaging standards. Over 60 representatives from licensed financial institutions discussed SWIFT updates, including the Global Payment Innovation and Pre-Val service, as well as ISO 20022 certification requirements and G20 objectives.
Policy & regulationCooperationCross-border payments
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2025-04-09•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has granted BPay Global B.S.C.(c), part of the Binance Group, a Payment Service Provider licence. This licence allows BPay Global to offer fiat services, including top-ups, withdrawals, and custody, to Binance customers worldwide.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-09•Mozambique•Bank of Mozambique
The Bank of Mozambique introduced a temporary regime for the repatriation and conversion of export proceeds, setting a mandatory conversion rate of 50% for 18 months under Notice 5/GBM/2024. The revised framework also addresses the re-export of petroleum products due to current import conditions, affecting re-exporters and intermediary banks. Additionally, an exceptional regime for minimum regulatory provisions was established.
Policy & regulationRules & requirementsOther
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2025-04-09•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has revoked Mortgage Smart Inc.'s mortgage brokerage licence and imposed penalties totaling CAD 50,000 on Ranjit Dhillon and Kamal Dhillon. Mortgage Smart was found unsuitable for licensing due to failures in ensuring mortgage suitability, inadequate risk disclosure, and providing false information. The penalties followed settlements with the involved parties.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-09•Mozambique•Bank of Mozambique
The Bank of Mozambique has tightened foreign-exchange rules for petroleum product re-exports, requiring proceeds to be repatriated and converted into domestic currency within 30 days. Additionally, a temporary prudential regime alters minimum regulatory provisioning percentages for overdue credit, applicable to all supervised credit institutions for 12 months. Both measures are effective immediately, with breaches punishable under existing law.
Policy & regulationRules & requirementsOther
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2025-04-09•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) has raised concerns about illiquid and structured financing portfolios, urging banks to ensure regulatory capital approaches reflect transaction substance and collateral liquidity. The PRA warns against imprudent collateral recognition in securities financing transactions (SFTs) under UK regulations, which could lead to undercapitalisation. Firms must align with Basel 3.1 changes, ensuring appropriate capitalisation and demonstrating secondary market liquidity and robust collateral valuation methods.
SupervisionRisk monitoring & watch pointsPrudential risksSupervision process and methodologies
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2025-04-09•Global•Taskforce on Nature-related Financial Disclosures
The IFRS Foundation and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a memorandum of understanding to integrate TNFD’s recommendations into the International Sustainability Standards Board’s (ISSB) work. The collaboration will involve sharing research to inform the ISSB’s Biodiversity, Ecosystems and Ecosystem Services (BEES) project and enhance SASB Standards. Any resulting ISSB standards will undergo the IFRS Foundation’s due process, including public consultation.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-09•Global•World Savings and Retail Banking Institute
The World Savings and Retail Banking Institute highlighted ESBG President Nicolas Namias's Brussels meetings to advocate for the Keep It Simple roadmap, aiming for a streamlined EU regulatory framework. Discussions with European Commissioner Maria Luís Albuquerque and MEP Fernando Navarrete addressed regulatory alignment, digital finance, and the Digital Euro. The roadmap covers seven areas, including prudential requirements, digital finance, and sustainable finance, reflecting the sector's extensive customer base and branch network.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-09•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of the Republic of Kosovo is visiting the United Arab Emirates, participating in the AIM 2025 International Investment Congress. He discussed Kosovo's macroeconomic developments and central bank priorities, including financial-sector resilience and EU legal alignment. Meetings with UAE officials focused on cooperation in financial supervision, consumer protection, and payments modernization.
Policy & regulationCooperationCross-border cooperation
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2025-04-09•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revised rules for securities companies, classifying net capital bonds (NC bonds) as high-risk or complex products. Firms must adhere to communication and investor service requirements, including risk warnings and a knowledge test before initial investment. The amendments are effective from 16 April 2025.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-04-09•Malta•Central Bank of Malta
The Central Bank of Malta collaborated with the Malta Bankers’ Association to organize a European Money Week event aimed at enhancing financial literacy. The initiative expanded its focus from younger audiences to include older adults.
Financial literacy & educationFinancial literacy and education
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2025-04-09•Malta•Central Bank of Malta
The Central Bank of Malta revised its directives on payment services and payment and securities settlement systems, mandating that major-incident reports be submitted to the Malta Financial Services Authority. This update aligns with the introduction of the Digital Operational Resilience Act (DORA).
Policy & regulationRules & requirementsPayments and payment systemsMarket infrastructure
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria released provisional balance of payments statistics for 2024, highlighting a current account surplus of USD 17.22 billion, up from USD 6.42 billion in 2023. The overall balance of payments showed a surplus of USD 6.83 billion, with external reserves rising to USD 40.19 billion by end-December 2024. Key factors included increased gas and non-oil exports, reduced fuel import demand due to the Dangote Refinery, and exchange rate unification impacting trade dynamics.
Data & statisticsBalance of payments and other external statistics
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria reported a Q4 2024 current account surplus of USD 3.80bn, down 34.26% from Q3 2024 but slightly above Q4 2023. The decline was due to a reduced goods surplus and increased net out-payments for services and primary income. The financial account showed a balance of USD 7.82bn, with portfolio investment inflows rising 192.5% to USD 5.61bn, while external reserves increased to USD 40.19bn.
Data & statisticsBalance of payments and other external statistics
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's March 2025 Business Expectations Survey indicates increased optimism among firms, with the confidence index rising from 31.7 to 48.3 over six months. Positive outlooks were noted across agriculture, industry, and services, with agriculture showing the highest confidence and capacity utilisation. Key constraints identified include high interest rates, insecurity, and high taxes.
Data & statisticsEconomic data and developments
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's March 2025 Household Expectations Survey indicates reduced consumer pessimism, driven by optimism in expected family income and macroeconomic conditions. Confidence indices are projected to rise steadily through September 2025. While current sentiment on prices remains negative, there is a noted moderation, with item-level indices highest for telecommunications, house purchases, and vehicle purchases.
Data & statisticsEconomic data and developments
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's Q1 2025 Credit Conditions Survey shows increased credit availability for unsecured and corporate lending, with a decline in secured household lending. Demand rose for secured and corporate credit but fell for unsecured lending, driven by inventory finance. Credit scoring criteria tightened, loan approvals increased for secured and corporate lending, and lending spreads widened, except for Other Financial Corporations.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-09•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's March 2025 Inflation Expectations Survey indicates a shift in sentiment, with more respondents perceiving inflation as slowing, particularly among businesses. Key drivers of inflation perceptions include energy and transportation costs, exchange rates, and interest rates. The survey also reveals that 69.7% of respondents favor interest rate cuts, and 90.2% view CBN communications as transparent.
Data & statisticsEconomic data and developments