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2025-04-03•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) warned about fraudulent payment requests falsely claiming to be from the IA, following an enquiry about a suspicious invoice titled “Insurance Authority Certificate.” The IA clarified it does not issue such invoices or insurance policies and has reported the matter to the Hong Kong Police Force. The public is advised to verify suspicious requests through the IA's hotline and report scams to the police.
SupervisionAlertsFraud and scams
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2025-04-03•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendence of the Securities Market (SMV) announced the Ministry of Economy and Finance's approval of an investment project for a new SMV headquarters under the Works for Taxes framework. The PEN 91.63 million project includes a 15,776.50 m2 building in Miraflores, Lima, aiming to enhance SMV's services. ProInversión will provide technical assistance for pre-procurement and contractor selection, with the SMV Superintendent authorized to sign the agreement.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-03•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg and STATEC reported a provisional 2024 current account surplus of EUR 11.8 billion, up EUR 2.8 billion from 2023. The goods balance shifted to a EUR 1.5 billion surplus, driven by a 3% rise in exports and a 1% fall in imports. In the financial account, Luxembourg saw positive direct investment and significant net inflows in equities and debt securities.
Data & statisticsBalance of payments and other external statistics
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2025-04-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released a consultation paper on draft Regulatory Technical Standards under the Market in Financial Instruments Regulation Review. It seeks input on derivatives transparency requirements, amendments to package orders, and specifications for over-the-counter derivatives consolidated tape data. Key proposals include a new deferral regime for exchange traded and OTC derivatives, changes to pre-trade waivers, and data quality requirements for consolidated tape providers.
Policy & regulationRules & requirementsRegulatory reporting
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2025-04-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has initiated a consultation on revising the format for insider lists under the Market Abuse Regulation, following the EU Listing Act amendments. The proposed changes aim to extend the simplified format used by issuers on SME Growth Markets to all issuers, reducing the administrative burden.
Policy & regulationRules & requirementsMarket abuse
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2025-04-03•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo released external sector statistics for Q4 2024 and balance of payments data for January 2025. International investment position assets increased by EUR 156.86m and liabilities by EUR 459.03m in Q4 2024, with gross external debt reaching EUR 4.23bn. January 2025 saw a current account deficit of EUR 21.36m, driven by a goods trade deficit of EUR 379.26m, offset by surpluses in services, primary income, and secondary income.
Data & statisticsBalance of payments and other external statistics
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2025-04-03•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia has revised its Regulation for the Administration of International Reserves, effective 25 March 2025, to enhance investment, management, and hedging capabilities. These changes are based on Article 16 of Law No. 1670, governing reserve management and security. Additionally, under Law No. 1503, the bank will report to the Plurinational Legislative Assembly every four months on gold reserve operations.
Policy & regulationRules & requirementsOther
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2025-04-03•Australia•Australian Securities & Investments Commission
ASIC warned of scammers impersonating it via texts labeled "ASIC" to steal information. ASIC clarified it doesn't use such texts for personal or financial requests and advised deleting them. Users should verify senders, avoid links, enable multi-factor authentication, and report suspicious messages. The Australian Communications and Media Authority plans an SMS Sender ID Register by December 2025 to prevent impersonations.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority released provisional investment return data for MPF funds as of March 2025, detailing average net returns by fund type and long-term performance. Equity Fund and Mixed Asset Fund, comprising nearly 80% of MPF assets, reported average net returns of 16.1% and 6.4% over the past year. The Authority emphasized the long-term nature of MPF investments and advised members to consider objectives, risk tolerance, and performance across different time horizons.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Europe•European Systemic Risk Board
The European Systemic Risk Board (ESRB) reviewed the European Commission's Savings and Investments Union priorities, noting elevated EU financial stability risks due to political uncertainty and geopolitical tensions. The Board emphasized the need for swift EU action and robust regulation to enhance financial system resilience, while highlighting potential risks from trade restrictions. It also discussed financing for increased EU and Member State security needs, suggesting a European safe asset as potential support for defense funding.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2025-04-03•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has revoked the licence of Dynamics Insurance Brokers under Article 22(2) of the Insurance Authority Board of Directors Resolution No. 15 of 2013. This action follows an examination revealing non-compliance with the Central Bank’s licensing terms and regulatory requirements.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-03•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank's study on rising energy prices, power grid costs, and carbon taxation shows higher energy prices most affect output, estimating reductions of 8% in chemicals and 9% in basic metals. Paper production benefits slightly due to energy efficiency and surplus allowances under the European Emissions Trading Scheme. Firms' ability to pass through costs depends on policy alignment across Europe, with national policy changes potentially impacting output more than EU-level adjustments.
ResearchClimate risk and sustainable finance
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2025-04-03•West Africa•Central Bank of West African States
The Central Bank of West African States adopted a regional financial inclusion policy for 2025–2030 and was designated as the macroprudential authority for the West African Monetary Union. The Council of Ministers noted Union growth of 6.2% in 2024, inflation easing to 2.9% in Q4 2024, and a fiscal deficit of 5.1% of GDP at year-end. They approved the Central Bank’s 2024 accounts, the West African Development Bank’s annual accounts, and encouraged finalizing a draft act on a convergence, stability, growth, and solidarity pact.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-04-03•West Africa•Central Bank of West African States
The Central Bank of West African States has revoked the temporary supervisory derogation allowing credit institutions to treat Niger government securities as performing assets. These securities will now receive the same accounting and prudential treatment as those from other West African Monetary Union member states. The derogation, initiated in January 2024 to maintain financial stability, is deemed unnecessary due to the normalization of Niger's financial market operations.
SupervisionInterventionsAccounting and financial reporting
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2025-04-03•Peru•Central Bank of Peru
The Central Bank of Peru reported a 3.2% year-on-year increase in metallic mining production for January 2025, driven by higher copper and molybdenum output. Copper production rose 7.3% due to increased extraction and a rebound at key mines, while molybdenum surged 24.0% on improved processing and ore grades. However, declines were noted in gold, zinc, and lead production.
Data & statisticsEconomic data and developments
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2025-04-03•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) has launched the Emergence Program to foster collaboration among insurance market participants for digital transformation and innovative use cases. The initiative includes strategic discussions, international expert input, and prototype development supported by technology experts. Workshops will be conducted by ACAPS’ Innovation & Insurtech Unit.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-04-03•Ireland•Central Bank of Ireland
The Central Bank of Ireland's Deputy Governor Mary-Elizabeth McMunn discussed regulatory adaptation, emphasizing resilience amid short-term shocks and long-term shifts. She noted increasing complexity and digitalization in sectors under the Bank's supervision and the adoption of an integrated supervisory approach. McMunn supported EU regulatory simplification but cautioned against lowering standards or reducing necessary information.
SupervisionSupervision approach, priorities & toolkitRegulatory burden
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2025-04-03•Europe•European Banking Authority
The European Banking Authority released reports on EU subsidiaries of third-country banking groups and EU/EEA banks' foreign currency assets, liabilities, and funding. As of December 2023, non-EU bank subsidiaries held 10.17% of EU assets, with significant involvement in derivatives, while EU/EEA banks had nearly 30% of exposures and 21% of funding in foreign currencies. The reports highlight the substantial role of the US dollar in foreign currency funding and note that unsecured wholesale funding constitutes the majority.
ResearchFinancial and market indicatorsSupervisory data
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2025-04-03•Peru•Central Bank of Peru
The Central Bank of Peru reported that total credit to the private sector grew 7.2% year on year in January 2026, marking the ninth consecutive month of acceleration. Outstanding balances increased 0.2% from December 2025 to PEN 437,785 million. Household credit rose 6.8% year on year, while credit to firms increased 7.4%.
Data & statisticsLending
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2025-04-03•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has released the Quarterly Financial Return templates for Insurance Groups and commercial insurers for Q1 2025, adding a reporting requirement for catastrophe monitoring. Insurers must report their exposure to the 2025 California Wildfire events using the latest loss estimates in the 'Catastrophe Exposure' tab. Firms that submitted preliminary estimates in the recent data call must update these in their quarterly filings.
SupervisionRegulatory reporting
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2025-04-03•Lithuania•Bank of Lithuania
The Bank of Lithuania proposed a payments market strategy through 2030, emphasizing security, accessibility, and innovation to enhance consumer choice and protection. It highlights electronic and instant payment growth, addresses fraud risks, and suggests measures for service accessibility and consumer mobility. It also promotes European payment schemes and infrastructure to foster innovation.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-04-03•Portugal•Bank of Portugal
The Bank of Portugal announced that the Polícia Judiciária is conducting a search at its premises and confirmed its full cooperation with the authorities.
EnforcementInvestigations & enforcement actions
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2025-04-03•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority released guidance for financial advisers on determining direct financial loss in upheld complaints, emphasizing two counterfactual methods: a "no-transaction" approach for unsuitable recommendations and an "estimate" approach based on the client's risk profile and market benchmarks. A pure capital loss approach is rarely used, primarily when the client's alternative investment cannot be determined.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-04-03•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) announced the expulsion of six members, including United Global Capital Pty Ltd, effective 31 May 2025, due to non-compliance with section 3.4(a) of the AFCA Constitution. AFCA emphasized that membership ensures compliance with legal obligations for financial firms and encouraged expelled members still legally required to be members to seek reinstatement.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-04-03•Sweden•Riksbank
Riksbank Governor Erik Thedéen stressed the need for stronger EU capital markets to support investment and digital and green transitions. He cited geopolitical developments and increased defense spending as reasons for action, endorsing the European Commission's initiatives. Thedéen advocated a pragmatic, long-term approach combining pan-European and local solutions, citing Nordic-Baltic cooperation as a model.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-04-03•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and AFP concluded the 26th edition of its Extension Programme (PEXT), aimed at attracting talent and training future financial system supervisors. Since 1998, over 990 graduates have completed the programme, which reported gender parity and included participants from various Latin American countries. Curriculum enhancements featured courses from the University of Cambridge and the U.S. Federal Reserve, focusing on fintech, insurtech, suptech, and managing troubled financial institutions.
Institutional developmentCooperation & capacity buildingOther
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2025-04-03•Zimbabwe•Zimbabwe Insurance and Pensions Commission
Finance Minister Mthuli Ncube toured the Zimbabwe Insurance and Pensions Commission's new offices in Harare, commending the Commission for securing a dedicated building. He emphasized IPEC's role in regulating non-banking financial services and highlighted initiatives like developing Mortality Tables and the Farmer’s Basket parametric insurance programme. The Minister noted macroeconomic challenges impacting the industry and stated that the Government is addressing these issues.
Institutional developmentOtherOrganizational structure
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2025-04-03•France•Bank of France
The Bank of France updated the French Financial Sector Consultative Committee's report on the 2022 "API" law's impact on sole proprietors, focusing on banking access, asset separation, and financial distress. The report highlights legal uncertainties in asset separation and suggests clarifying insolvency procedures. It notes stable EI-bank relationships, EUR 28.9bn in outstanding credit to EIs, and proposes measures to enhance data, training, credit access, and support for entrepreneurs in difficulty.
Policy & regulationReform agendas & prioritiesOther
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2025-04-03•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) accepted a Court Enforceable Undertaking from ANZ to address non-financial risk management deficiencies. APRA increased ANZ's capital add-on to AUD 1 billion. ANZ must appoint an independent reviewer for a remediation plan, with written attestations from key personnel. This follows concerns over operational risk and compliance. The capital add-on remains until APRA is satisfied.
EnforcementInvestigations & enforcement actionsOperational risk and resiliencePrudential risks
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2025-04-03•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 issued guidance on voluntary property insurance for natural disasters, detailing contract agreements and claims processes. The guidance includes data from the 2024 floods, where insurers received 166 claims and paid KZT 709.6 million in compensation, with the highest claims from Atyrau, Aktobe, and North Kazakhstan regions.
Policy & regulationGuidance & interpretationNature-related risk
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2025-04-03•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 amended the Code of Administrative Offences to increase fines for collection agencies violating debtor interaction requirements. Fines now range from 200 to 600 monthly calculation indices (AEK) based on business size, with additional penalties for unfair actions by employees set at 30 AEK. These amendments were enacted on 13 March 2025.
Policy & regulationRules & requirementsOther
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2025-04-03•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia and the European Investment Bank hosted a conference on investment conditions and growth prospects for Slovenia and Europe, addressing productivity growth, Slovenia-specific challenges, and investment barriers in technology, infrastructure, and energy. Keynotes included insights from the EIB Investment Report and a survey on enterprise finance access. The event featured a roundtable with representatives from economic and financial institutions.
Policy & regulationCooperationMarket development
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2025-04-03•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's Governing Council has set the 2025 annual contributions for branches of credit institutions from third countries to the Bank Resolution Fund at BGN 130,400. This decision is in accordance with the Law on Recovery and Resolution of Credit Institutions and Investment Firms and National Bank of Bulgaria Ordinance No. 41.
Policy & regulationRules & requirementsRecovery and resolution
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not request sensitive personal information via SMS, email, or embedded hyperlinks. Customers who have interacted with these fraudulent sites are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding a fraudulent website and internet banking login screen related to Dah Sing Bank, Limited. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact Dah Sing Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens associated with Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords. Affected individuals are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a freeze on fixed pay for staff from April 2025, with variable pay based on 2024 performance. Staff meeting or exceeding performance targets will receive a one-off payment equivalent to 19.93% of total pay. The decision, based on the Governance Sub-Committee's review, was approved by the Financial Secretary.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen reported by HSBC. 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. Affected individuals should contact HSBC and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-03•India•Reserve Bank of India
The Reserve Bank of India issued a circular to Authorised Dealer Category-I banks detailing Foreign Portfolio Investor (FPI) limits for Indian debt instruments for the financial year 2025-26. The percentage caps on FPI holdings remain unchanged, with absolute limits set at INR 13,82,989 crore for April–September 2025 and INR 14,70,654 crore for October 2025–March 2026. The aggregate notional amount for credit default swaps sold by FPIs is capped at 5% of outstanding corporate bonds, with an additional limit of INR 2,93,612 crore for 2025-26.
Policy & regulationRules & requirementsCross-border payments
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2025-04-03•Europe•European Central Bank
ECB Vice-President Luis de Guindos noted high macro-financial uncertainty complicates monetary policy and financial stability. The ECB cut interest rates by 25 basis points in March, with the deposit facility rate at 2.5%, maintaining a data-dependent approach due to uncertain inflation. He highlighted banks' strong solvency and liquidity but warned of vulnerabilities from market valuations, non-bank financial intermediaries, and rising sovereign indebtedness.
Monetary policyMonetary policy assessments & outlooksRisk analysis and outlookFinancial stability and systemic risk
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2025-04-03•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and an International Monetary Fund delegation discussed priorities under the Policy Coordination Instrument programme, focusing on financial market development, insurance system reform, and banking digitisation. Key topics included new reporting standards for the insurance market and expanding non-cash payments.
Policy & regulationCooperationOther
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2025-04-03•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the International Monetary Fund discussed the ongoing implementation of the Policy Coordination Instrument (PCI) and broader cooperation areas. Key topics included macroeconomic conditions, banking system status, monetary policy, and financial sector stability. The PCI focuses on priority reforms for sustainable economic development and foreign investment attraction.
Policy & regulationCooperationFinancial stability and systemic riskMacroprudential policy and tools
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2025-04-03•Liberia•Central Bank of Liberia
The Central Bank of Liberia’s 2024 Annual Report says Liberia’s economy grew 4.8 percent and average inflation fell to 8.3 percent, while the current account shifted to a 14.2 percent of GDP surplus. It says the banking sector remained stable, with strong capital and liquidity ratios, but nonperforming loans stayed high at 19.7 percent. The report also highlights continued growth in digital payments and internal governance reforms tied to audit recommendations.
ResearchActivity and performance reporting
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2025-04-03•Spain•Bank of Spain
The Bank of Spain's Q4 2024 supervisory statistics show improved capital and leverage metrics for Spanish credit institutions. Liquidity coverage declined but stayed above the regulatory minimum, and asset quality indicators improved with high profitability despite a slight quarterly decrease. The Common Equity Tier 1 (CET1) ratio rose to 13.51%, and the aggregate leverage ratio increased to 5.73%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued a memorandum detailing reserve requirement computations for banks and non-banks during the 2025 Holy Week. Maundy Thursday and Good Friday are designated as non-reserve days, with the reserve position from Holy Wednesday carried over to Easter Sunday. The two reserve weeks will be treated as one for assessing potential abuse of offsetting reserve deficiencies.
Policy & regulationGuidance & interpretationLiquidity risk
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2025-04-03•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Dominican Republic Superintendency of Banks reported a 12.5% year-on-year increase in the total loan portfolio, reaching DOP 2.18 trillion by the end of 2024. The report highlights a headline delinquency ratio of 1.6% and a stressed delinquency indicator of 7.12%. Notable growth areas include construction, consumption, and mortgage credit, with private commercial credit rising by 11.4% to DOP 1.14 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission requires two individuals to pay a VND 1,000,000 fee for a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to collect the certificate within one year of the fee notice will result in cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-04-03•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission issued Notice 19/TB-UBCK requiring individuals on a specified list to pay VND 1,000,000 for a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer to VietinBank or Vietcombank, or directly at the Commission, with specific transfer details required. Failure to complete the certificate process within one year will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-04-03•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered Eike Fuhrken Batista and associated entities to halt offering securities to Brazilian residents, following an online promotion of digital-asset investments deemed securities. The stop-order, under Deliberation CVM 898, extends to partners and agents, with non-compliance risking a daily fine of BRL 100,000.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-03•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Joint Circular Letter CVM/SSE/SNC 1/2025, clarifying income distribution policies for Investment Funds in Agribusiness Production Chains (FIAGRO). It specifies that Article 10 of Law 8.668 does not apply to FIAGRO, and distributions must not exceed annual and accumulated profits. Adjustments to fund regulations should align with Annex VI of CVM Resolution 175.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-04-03•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore stated that Singapore's foreign exchange and money markets are functioning normally. It is monitoring developments and is prepared to curb excessive volatility in the Singapore dollar to maintain orderly market conditions.
Monetary policyMonetary policy assessments & outlooksMarket risk and volatility
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2025-04-03•Serbia•National Bank of Serbia
The National Bank of Serbia clarified that the Pension and Disability Insurance Fund's account for pension payments was exempt from forced collection and operated without interruption despite reports of a two-day block. The temporarily blocked account was used for other transactions, and discrepancies did not affect pension payments. The bank noted delays in receiving account balance information from the Treasury Administration, impacting enforced collection orders.
Policy & regulationGuidance & interpretationOther
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2025-04-03•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has expanded its Agent Registration Tool so that, from April 3, 2025, mutual funds, investment funds and book-entry shares issued by publicly held companies must be registered exclusively through the platform. The tool had already been extended to several debt instruments and continues to operate without changing existing regulatory requirements.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-04-03•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said Insurance Superintendent Adriana Jazmín Bernal Lugo was elected to the ASSAL board for 2025-2027. The appointment places Paraguay on the association’s governing body and makes her the first Paraguayan woman to hold a seat on it.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Switzerland•Swiss National Bank
The Swiss National Bank has announced John H. Cochrane as the speaker for its 2025 Karl Brunner Distinguished Lecture Series, where he will discuss the impact of fiscal policy on post-pandemic global inflation. Cochrane, a Senior Fellow at the Hoover Institution, specializes in the interaction between financial markets and the macroeconomy.
Financial literacy & educationMonetary policy decisions and developments
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2025-04-03•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and the Financial Conduct Authority are consulting on raising the de minimis threshold for the mortgage Loan to Income flow limit from GBP 100 million to GBP 150 million, following a Financial Policy Committee recommendation. This change would allow smaller lenders to increase residential mortgage lending before being subject to the LTI flow limit. The proposal involves amendments to the PRA Rulebook and revisions to the FCA’s guidance.
Policy & regulationRules & requirementsLending
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2025-04-03•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and the Financial Conduct Authority have finalized amendments to increase the de minimis threshold for the mortgage Loan to Income flow limit from GBP 100 million to GBP 150 million annually. This change affects lenders extending residential mortgages above this value, with the number of exempt lenders expected to rise from 70 to 80. The amendments will be effective from 11 July 2025.
Policy & regulationRules & requirementsLending
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2025-04-03•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has integrated its "SEC Check First" tool into the Cyber Crime Investigation Bureau's "Cyber Check" application, effective 3 April 2025. This integration facilitates investor verification of licensed individuals, firms, and products in capital and digital asset markets. Cyber Check also verifies phone numbers, bank accounts, and online identifiers, categorizing results by legal action history and identity verification.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-04-03•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs advanced the nominations of Paul Atkins for SEC Chair, Jonathan Gould for Comptroller of the Currency, Luke Pettit for Assistant Secretary of the Treasury for Financial Institutions, and Marcus Molinaro for Federal Transit Administrator. Chairman Tim Scott emphasized Atkins' focus on capital formation and digital asset regulation, Gould's commitment to ending "politically motivated debanking," Pettit's reform agenda, and Molinaro's relevant experience.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission issued a warning that Trade Hive Hub, operating from New York and possibly using the name Tr@de Hive Hub, is not registered to deal in or advise on securities in New Brunswick. Investors are advised to verify registration through the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-03•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Region 2 office, formerly the Ho Chi Minh City branch, issued a notice to local authorities and business associations to coordinate on business support measures and access to public administrative services following its rebranding. Region 2 manages monetary, banking, and foreign exchange activities, and supports credit access through stabilized deposit and reduced lending rates. It will continue the 2025 bank–business connection programme and oversee public services in foreign exchange and gold domains.
Policy & regulationCooperationOrganizational structure
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2025-04-03•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reviewed Regional Branch 8's operations post-integration, stressing finalizing processes and enhancing monetary supervision. The consolidation of 63 provincial branches into 15 regional branches, effective 1 March 2025, aims to streamline operations, with Regional Branch 8 reporting smooth connectivity. Deputy Governor Pham Quang Dung urged adherence to government and SBV directives on monetary and credit measures, emphasizing safe credit extension to priority sectors.
Institutional developmentMandate & organizational structureOther
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2025-04-03•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced leadership changes at Vietnam Bank for Agriculture and Rural Development, appointing To Huy Vu as Chair of the Members’ Council and Party Committee Secretary. Thai Thi An Hoa and Le Manh Thang were appointed to Agribank’s Supervisory Board. Vu emphasized priorities such as achieving 2025 business targets and implementing the restructuring plan for non-performing loans.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) will oversee credit purchasers and servicers under the new Act on Credit Purchasers and Credit Servicers, implementing Directive (EU) 2021/2167. The Act mandates authorisation for credit servicers, introduces notification obligations, and applies the Consumer Protection Act to purchased credits in consumer cases. FIN-FSA has updated its notifications section to align with these requirements.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-04-03•Chile•Central Bank of Chile
The Central Bank of Chile's Survey of Price Determinants and Expectations shows firms' median inflation expectations at 4% for the next 12 and 24 months. The survey indicates neutral sales levels, input availability, and selling prices, with costs and profit margins trending slightly upward. The US dollar exchange rate remains a significant pricing factor, though its influence has lessened compared to previous quarters.
Data & statisticsEconomic data and developments
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2025-04-03•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority published an inspection report on Sparebanken Vest and its subsidiary, noting satisfactory liquidity but high market funding reliance. It calls for clearer risk tolerance, stronger independence between first- and second-line functions, and improved stress testing and board reporting. The authority expects the new banking group, Sparebanken Norge, to address these issues during its merger with Sparebanken Sør.
SupervisionReviews, inspections & stress testsLiquidity riskStress testing
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2025-04-03•Namibia•Bank of Namibia
The Bank of Namibia hosted a high-level roundtable on smart regulation that produced support for a more agile and harmonized regulatory framework to promote growth, innovation and investment while preserving consumer protection and stability. Participants pointed to overregulation, bureaucratic bottlenecks and high unemployment as reasons to revisit current rules. They agreed to pursue greater cross-sector collaboration and engage policymakers on responsive reforms.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-04-03•Jersey•Jersey Financial Services Commission
The Jersey Financial Services Commission has appointed Elaine Walsh as Executive Director of Finance, Strategy and Change, a new role integral to its transformation programme and financial management framework. Walsh will oversee Finance, Operational Excellence, and Project Management, supporting change and operational improvement while maintaining financial control. She will also contribute to the JFSC’s 2026+ strategy and fees reform.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Thailand•Bank of Thailand
The Bank of Thailand, Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, and Monetary Authority of Singapore have established Nexus Global Payments (NGP) in Singapore to manage the Nexus multilateral instant cross-border payments scheme. NGP, a not-for-profit entity, transitions Nexus from a Bank for International Settlements Innovation Hub project to implementation, with initial capital from the five founding jurisdictions. Benjamin Lee is interim director, and an open procurement process is underway to select a Nexus Technical Operator.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-03•China•China Securities Regulatory Commission
The China Securities Regulatory Commission released draft revisions to securities investment fund custody rules for public comment, focusing on enhancing custodian accountability and investor protection. Key proposals include stricter licensing requirements, improved risk isolation, expanded custodian obligations, and refined licence revocation pathways. The draft also allows leading custodians to establish subsidiaries dedicated to custody business, subject to regulatory approval.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-04-03•China•China Securities Regulatory Commission
The China Securities Regulatory Commission held a symposium in Beijing, chaired by Wu Qing, to discuss capital market reform and support for technology innovation in the private sector. Key topics included the "1+N" policy framework, proposals for equity issuance reform, and mechanisms to support technology companies in the IPO process. Wu Qing emphasized reform to enhance market transparency, inclusiveness, and support for high-quality private enterprises.
Policy & regulationReform agendas & prioritiesMarket development
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2025-04-03•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) president, Roberto E. Silva, outlined the CNV's work programme at the International Update Conference on Public Offerings and Capital Markets. Key initiatives include easing capital market constraints, regulating virtual asset service providers, and introducing an "automatic public offering" framework. Silva noted the approval of 69 general resolutions, with significant measures under public consultation.
Policy & regulationReform agendas & priorities
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2025-04-03•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission issued a notice to standardize insurance funds' major equity investments in unlisted enterprises. It clarifies transaction definitions, updates sector eligibility to include technology and big data, and strengthens governance and risk management. A "new–old separation" approach mandates compliance for new investments, while existing non-compliant business must develop rectification plans.
Policy & regulationRules & requirementsOther
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2025-04-03•China•China Banking and Insurance Regulatory Commission
The National Financial Regulatory Administration, the People's Bank of China, and the China Securities Regulatory Commission have issued Opinions to enhance financial dispute mediation, emphasizing non-litigation mechanisms. The document outlines improvements in mediation frameworks, standardization, and efficiency across banking, securities, and insurance sectors, involving collaboration with various departments to ensure orderly and professional practices.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-04-03•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration updated the policy on insurance funds' major equity investments in unlisted enterprises, expanding industry scope and enhancing governance and risk controls. Investments are directed towards strategic and emerging sectors, with stronger management and accountability. A five-year transition is introduced for existing non-compliant holdings, and insurance institutions must prepare and file rectification plans with the regulator.
Policy & regulationRules & requirementsCorporate governance
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2025-04-03•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration issued a notice detailing supervisory requirements for commercial banks' internet-assisted lending to standardize conduct and enhance risk management. The 10-article notice supplements existing regulations, emphasizing centralized management, risk-based pricing, and consumer protection. It introduces admission requirements for platform operators and mandates tighter cost management and standardized pricing.
Policy & regulationRules & requirementsLending
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2025-04-03•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration Party Secretary and Director Li Yunze met with HSBC Group Chair Mark Tucker to discuss global economic conditions, financial-sector opening-up, and HSBC’s business development in China.
Policy & regulationOther
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2025-04-03•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has accepted a Court Enforceable Undertaking from ANZ to address weaknesses in non-financial risk management and culture, increasing ANZ’s capital add-on from AUD 750 million to AUD 1 billion. ANZ must conduct an independent review, develop a remediation plan, and ensure accountability in its Financial Accountability Regime, with the capital add-on remaining until APRA is satisfied.
SupervisionInterventionsOperational risk and resiliencePrudential risks
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2025-04-03•Moldova•National Bank of Moldova
The National Bank of Moldova’s Governor, Anca Dragu, emphasized central banks' roles in guiding data-driven economies with responsibility and transparency at the AI & Big Data Conference. She detailed the bank's AI use in risk supervision and document processing, and highlighted priorities like expanding digital payments, connecting to SEPA, and promoting financial education. Dragu also stressed responsible regulation of emerging technologies with European institutions.
Policy & regulationReform agendas & prioritiesArtificial intelligenceSupervision process and methodologies
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2025-04-03•Global•Bank for International Settlements - Innovation Hub
The Bank for International Settlements Innovation Hub has launched Project AISE (Artificial Intelligence Supervisory Enhancer) to create an AI-driven toolkit aimed at enhancing supervisory efficiency and decision-making in financial oversight. Led by the Toronto Innovation Centre, the project focuses on reducing manual workload, improving data handling, and embedding best practices for evolving supervisory teams.
SupervisionInnovation & testingArtificial intelligenceSupervision process and methodologies
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2025-04-03•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) has introduced the Document Number Verification System (SEBI-DNVS) to verify the issuance of physical communications. Each communication will include a unique Outward Number, requiring one-time password authentication for verification. The system confirms issuance but not the content of the communication, accessible via SEBI's website.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-04-03•South Korea•Bank of Korea
The Bank of Korea released its "Official Foreign Reserves (March 2025)" report, detailing the latest figures and related information.
Data & statisticsBalance of payments and other external statistics
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2025-04-03•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) increased enforcement against small defined contribution (DC) schemes for not completing the detailed value for members (dVFM) assessment, issuing £97,750 in penalties across 19 schemes. TPR urged trustees to consider transferring members to better-value schemes if they can't meet top governance standards. TPR is also working with the Financial Conduct Authority and the Department for Work and Pensions to develop a standardized value for money framework and improve supervisory approaches.
EnforcementEnforcement statisticsCorporate governance
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2025-04-03•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released technical information for calculating the symmetric adjustment to the equity capital charge under Solvency II as of March 2025. This publication aligns with the Solvency II Directive and Delegated Regulation, and connects to EIOPA's final report on implementing technical standards for the equity index used in the adjustment.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-04-03•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released technical information on risk-free interest rate (RFR) term structures as of March 2025, based on its Technical Documentation. These structures are essential for calculating technical provisions for (re)insurance obligations under Solvency II. The information is accessible on EIOPA's RFR webpage, which includes the 2025 release calendar and related resources.
Policy & regulationGuidance & interpretationFinancial and market indicators
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2025-04-03•Europe•European Insurance and Occupational Pensions Authority
EIOPA has launched three public consultations for the Solvency II review, addressing draft guidelines on exclusions from group supervision, revised guidelines on related undertakings, and a revised supervisory opinion on dynamic volatility adjustment within internal models. The updates aim to streamline Solvency II guidelines and align supervisory assessments with recent directive amendments.
Policy & regulationGuidance & interpretationPrudential risks
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2025-04-02•Venezuela•Ministry of Economy & Finance (Venezuela)
Venezuela's Ministry of Economy and Finance has announced a call for candidates for the Board of Directors of the Central Bank of Venezuela, to be evaluated by the Merit and Credentials Evaluation Committee. Applicants must comply with eligibility criteria outlined in Article 18 of the Central Bank of Venezuela Law Decree and provide a physical "Resumen Curricular" with supporting documentation.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-04-02•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved leadership changes for two real estate investment trusts and Allianz’s Bulgarian insurers, removed Reiswolf Bulgaria AD and its bond issue from the public register, and admitted a REIT share issue for trading. Additionally, it notified Denmark of European Insurance Company AD’s intent to provide cross-border services.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-02•Europe•Committee on Economic and Monetary Affairs
The European Parliament's Committees on Economic and Monetary Affairs and Environment, Public Health and Food Safety will discuss the European Commission’s draft regulation amending three acts under the EU Taxonomy Regulation. Part of the Omnibus I simplification package, it aims to streamline company reporting by introducing a financial materiality threshold, updating disclosure templates, and adjusting the Green Asset Ratio for banks. The Commission plans to adopt it in April 2025, followed by a four-month scrutiny period by the European Parliament and the Council.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-04-02•Europe•Committee on Economic and Monetary Affairs
The Committee on Economic and Monetary Affairs will hold a public hearing on 8 April 2025 to evaluate the impact of crypto-assets on financial stability. The session aims to gather expert input on the adequacy of the European Union's policy and regulatory framework in addressing these potential risks.
Policy & regulationOtherFinancial stability and systemic risk
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2025-04-02•Europe•Committee on Economic and Monetary Affairs
On 8 April 2025, Piero Cipollone of the European Central Bank will update the European Parliament's Committee on Economic and Monetary Affairs on the digital euro project. The update will cover progress in the preparation phase, including the draft digital euro scheme rulebook, provider selection, and ongoing experimentation. Concurrently, the European Parliament and the Council are reviewing the European Commission's legislative proposals for the digital euro.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-04-02•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) has launched the Pensions Library, a digital platform centralizing information on the pension system to enhance public education and transparency. The repository, hosted on SIPEN’s website, offers free access to over 790 documents from national and international organizations, covering topics such as pension benefits, labour market trends, and pension fund investment.
Financial literacy & educationFinancial literacy and education
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2025-04-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released February 2025 statistics on interest rates and lending volumes for euro-denominated contracts with euro area residents. Key changes include a rise in household deposit rates to 1.51% and consumer loan rates to 7.11%, while total new loans decreased to EUR 431.8 million. The report highlights shifts in rates and lending volumes across various sectors, reflecting changes in the composition of loan types.
Data & statisticsMonetary data
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2025-04-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released updated data on the Cypriot banking sector as of 31 December 2024, noting a decline in profitability by EUR 47 million to EUR 1,215 million due to lower net profit from foreign exchange differences, higher administrative expenses, and lower dividend income. Total assets increased by EUR 469 million to EUR 65,638 million, driven by growth in debt securities and loans. The Common Equity Tier 1 (CET1) ratio improved by 3 percentage points to 24.5%, with higher CET1 capital offsetting increased risk exposure.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus reported a decrease in the banking sector's Non-Performing Loans (NPL) ratio to 6.2% as of December 31, 2024, from 6.5% in September 2024. The coverage ratio for Non-Performing Exposures (NPEs) rose to 58.3%, driven by loan repayments, debt-to-asset swaps, write-offs, and successful loan restructurings. Total loans under restructuring reached EUR 1.3 billion, with EUR 0.7 billion still classified as NPEs.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-02•United Kingdom•Payment Systems Regulator
The Payment Systems Regulator (PSR) has launched a consultation on proposed remedies for Mastercard and Visa scheme and processing fees, aiming to enhance fee transparency and accountability. Key proposals include clearer fee information for merchants, regulatory financial reporting, and improved pricing governance. The PSR's review found a 25% real-term fee increase from 2017 to 2023, costing UK businesses an additional GBP 170 million annually.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-02•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) and the Bank of Italy have signed a memorandum of understanding to enhance cooperation between the Arbitro per le Controversie Finanziarie (ACF) and the Arbitro Bancario Finanziario (ABF). The agreement aims to improve client protection through information sharing and coordination mechanisms to guide clients in selecting the appropriate arbitrator.
Policy & regulationCooperationComplaints and dispute resolution
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2025-04-02•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has issued guidance for market participants to prepare for the Consolidated Tape Provider (CTP) for bonds, emphasizing draft regulatory technical standards for preparatory work. The bond CTP selection process, initiated in January 2025, is on schedule, with a decision expected by early July 2025. ESMA advises firms to prepare for a short transitional period under the Markets in Financial Instruments Regulation (MiFIR) and to engage with the selected CTP entity on technical arrangements post-selection.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-04-02•Europe•European Securities and Markets Authority
The European Securities and Markets Authority released its annual peer review on National Competent Authorities' supervision of EU central counterparties' compliance with European Market Infrastructure Regulation requirements. The review found effective supervisory practices but identified areas needing improvement and stronger supervisory convergence. ESMA issued recommendations, will monitor their implementation, and seek tools to enhance convergence in defining major risk management activities.
SupervisionPeer reviews and country evaluationsCCPsSupervision process and methodologies