-
2025-03-26•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic's Governor, Héctor Valdez Albizu, attributed recent exchange rate movements to seasonal foreign-exchange demand and global uncertainty. He emphasized the central bank's commitment to macroeconomic stability, supported by over USD 14 billion in reserves and projected foreign-currency inflows exceeding USD 45 billion. Valdez Albizu highlighted consistent economic growth and inflation rates near targets, with 2025 foreign direct investment expected to surpass USD 4.7 billion.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
-
2025-03-26•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo's February 2025 statistical update shows modest growth in commercial banks' balance sheets and a slight widening of the interest rate spread. Total assets rose to EUR 8.43bn, with gross loans increasing to EUR 5.90bn and new lending reaching EUR 230.54m. Client deposits grew to EUR 6.89bn, while the average deposit rate declined, affecting the loan-deposit interest margin and loan-to-deposit ratio.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-03-26•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo released February 2025 financial statistics for non-bank financial institutions, detailing balance-sheet sizes, asset allocations, and lending flows. Other financial intermediaries reported assets of EUR 665.60 million, with loans comprising 69.68% of total assets. Insurance companies and pension funds held assets of EUR 340.78 million and EUR 3.32 billion, respectively, with significant allocations in commercial bank balances and securities.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-03-26•Colombia•Superintendencia Financiera de Colombia
The Superintendencia Financiera de Colombia announced that AGRAPP, Inverti Fintech, and Virtual Abastos, winners of Sandbox Challenge Colombia 2023, are not under its supervision as they lack the required Temporary Operation Certificate. Despite support from the Inter-American Development Bank and legal partner Cuatrecasas, none have demonstrated compliance. The SFC advises the public to verify firm supervision status before investing.
SupervisionAlertsRegulatory sandbox
-
2025-03-26•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro's Governor Irena Radovic met with Switzerland’s non-resident ambassador Anne Lugon-Moulin to discuss enhancing cooperation in central banking, economy, and finance. Talks included potential collaboration with the Swiss State Secretariat for Economic Affairs and participation in a Bilateral Support Programme to improve regulatory frameworks and support modernization, aligning with Montenegro's goal of joining the European System of Central Banks.
Institutional developmentCooperation & capacity buildingCross-border cooperation
-
2025-03-26•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority conducted a 'Kapital' workshop for sixth-grade pupils at Njegoš Primary School in Cetinje to promote financial literacy. The session covered investing, risk, dividends, and company valuation through interactive methods, and provided students with educational materials. This initiative is part of a broader effort to engage children across Montenegro with capital market topics.
Financial literacy & educationFinancial literacy and education
-
2025-03-26•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission announced the dissolution and liquidation of Económico Fundos de Investimento – Sociedade Gestora de Fundos de Investimento, S.A., following a shareholders’ resolution. This action is based on the General Assembly’s Acta Avulsa No. 1/2023 and relevant legal provisions. The notice was published in Jornal de Angola on 8 March 2025.
SupervisionAuthorisations & approvalsRecovery and resolution
-
2025-03-26•Israel•Bank of Israel
The Bank of Israel's 2024 Annual Report examines generative AI's impact on the labor market, emphasizing state-facilitated training for workers affected by AI. It anticipates significant effects on repetitive thinking tasks, moderate impacts on physical or technical work, and highlights the need for technological upgrades and training in the public sector and high-tech industries.
ResearchArtificial intelligence
-
2025-03-26•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has updated guidance on virtual meetings for companies and registered schemes, clarifying Corporations Act provisions for hybrid and virtual-only formats. ASIC emphasizes that virtual meetings must allow shareholder participation both orally and in writing, and a webcast alone is insufficient for hybrid meetings. The guidance stresses compliance with entity constitutions and proper disclosure, with ASIC monitoring potential non-compliance in virtual-only meetings.
Policy & regulationGuidance & interpretationCorporate governance
-
2025-03-26•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) has aligned Spain’s settlement and securities registration with European standards under "Reforma 3," reducing bureaucracy and market entry barriers while ensuring investor protection. The CNMV eliminated the need to notify transactions to Iberclear’s Post-Trade Information System, citing operational complexity and redundancy due to EU reforms. Law 6/2023 and Royal Decree 814/2023 provide a two-year adaptation period for affected entities.
Policy & regulationRules & requirementsMarket infrastructure
-
2025-03-26•United States•Federal Reserve Board
The Federal Reserve Board's research highlights investor attention allocation as crucial in financial market responses to macroeconomic news. During the 2021-2023 inflation surge, market reactions to US Consumer Price Index (CPI) releases intensified due to heightened investor focus. The study introduces a CPI investor-attention measure, showing elevated attention predicts larger market movements and markets often overreact to highly anticipated announcements.
Research
-
2025-03-26•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) has issued guidance on declaring trades in securities of companies subject to a public offer, emphasizing transparency and strict rules from the offer announcement to its conclusion. The AMF lists companies on Euronext Paris and Euronext Growth with announced but unfiled offers, and the rules apply to these companies' securities and, if applicable, the offeror's securities. Transactions during the offer period must be declared by the next trading day using the appropriate AMF form and a signed cover letter.
Policy & regulationGuidance & interpretationSecurities offerings and listings
-
2025-03-26•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) released updated materials from its Observatoire de l’épargne, featuring a March 2025 letter on employee savings schemes and a dashboard on active retail investors. The letter includes an OpinionWay study on employee savings awareness and a survey of business leaders. The update also presents AMF data on retail investor activity and a BVA Xsight survey estimating investment scam victims at 3.2% of the population.
ResearchConsumer and investor protection
-
2025-03-26•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) outlines its governance, detailing the roles of the College, Sanctions Commission, AMF President, and Secretary General. The College, led by the AMF President, is the main decision-making body, while the Sanctions Commission independently imposes sanctions. The overview also includes the Executive and Management Committees, internal audit, and advisory bodies like the Climate and Sustainable Finance Commission.
Institutional developmentGovernanceOrganizational structure
-
2025-03-26•France•France Autorite des marches financiers
France's Autorité des marchés financiers (AMF) reminded financial investment advisers (CIF) to uphold professional obligations, provide accurate client information, and conduct due diligence, regardless of platform use. CIF must avoid recommendations driven by incentives and ensure compliance with regulatory requirements, including training and conflict-of-interest controls.
SupervisionOtherSupervision process and methodologies
-
2025-03-26•France•France Autorite des marches financiers
France's Financial Markets Authority updated its overview for digital asset service providers (PSAN), detailing mandatory registration and optional approval processes. The guidance includes AML/CFT compliance checks and a binding opinion from the French Prudential Supervision and Resolution Authority. It also covers conditions for striking off registered PSANs, with Foris DAX MT Limited recently removed due to "caducity" after a MiCA authorisation decision.
Policy & regulationGuidance & interpretationLicensing framework and process
-
2025-03-26•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) updated its FAQs on virtual meetings for companies and registered schemes after the Australian Government's statutory review response. The guidance clarifies amendments for hybrid and virtual-only meetings, emphasizing equivalent participation via virtual technology. It addresses phone line options, webcasts, and notifying ASIC after constitutional amendments, aligning with 2022 amendments to the Corporations Act 2001 and subsequent reviews.
Policy & regulationGuidance & interpretationOther
-
2025-03-26•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine's Securities Commission Chair Ruslan Magomedov and Agrarian Minister Vitaliy Koval discussed launching an organised agricultural market with transparent trading rules and new financing mechanisms. Leveraging timber exchange experience, the Commission aims to develop exchange-based trading for agricultural commodities, potentially adding UAH 350 billion to the economy and attracting UAH 27 billion (USD 650 million) in investment. The initiative includes promoting agricultural notes for financing secured by future products.
Policy & regulationImplementation, projects & pilotsMarket development
-
2025-03-26•Netherlands•De Nederlandsche Bank
By end-2024, the United States was the largest net international investor in the Netherlands, with EUR 1,822 billion in investments versus EUR 1,496 billion of Dutch investments in the US, resulting in a net external asset balance of EUR -326 billion. Luxembourg and Germany followed as significant investors, mainly through securities holdings. The Netherlands' net external assets rose to EUR 676 billion, driven by financial transactions and exchange rate movements, despite a negative contribution from securities holdings.
Data & statisticsBalance of payments and other external statistics
-
2025-03-26•Peru•Central Bank of Peru
The Central Bank of Peru reported a 6.7% real-term increase in the total formal wage bill in January 2025 compared to January 2024, marking ten months of consecutive growth. This rise is attributed to a 5% increase in formal employment, with significant contributions from the services and agriculture sectors. The private sector's formal wage bill grew by 8.8% year on year.
Data & statisticsEconomic data and developments
-
2025-03-26•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) has released draft regulations for public consultation to establish a mandatory certification framework for financial sector professionals. The framework will require certification for intermediaries, agents, and distributors, with a designated institute managing the certification process and Continuing Professional Education (CPE) programs.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-03-26•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia reported that Fitch reaffirmed the country's sovereign credit rating at BB+ with a stable outlook, citing the stability of the denar exchange rate as a key factor. Fitch projects foreign exchange reserves will cover 4.3 months of imports for 2025–2026, supporting the denar's fixed exchange rate against the euro. The banking sector is stable and profitable, with a well-capitalised, highly liquid system and non-performing loans at 2.9%.
ResearchBalance of payments and other external statistics
-
2025-03-26•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia reported notable changes in the country's external debt, external claims, and international investment position for Q4 2024.
Data & statisticsBalance of payments and other external statistics
-
2025-03-26•China•Central Bank of the Republic of China
The People's Bank of China (PBOC) Party Committee held an expanded meeting to initiate a Party-wide education programme on the "Central Eight-point Regulations" on conduct, approving an implementation plan for the PBOC system. The plan includes structured study, problem identification, and remediation through public engagement, integrated with core PBOC tasks. Governance arrangements assign overall responsibility to Party committees, with primary leaders as first responsible persons.
Institutional developmentGovernanceOther
-
2025-03-26•China•Central Bank of the Republic of China
The People's Bank of China held its 2025 internal audit work meeting, reviewing 2024 audit outcomes and setting 2025 priorities to enhance audit supervision and remediation impact. The plan emphasizes audits related to financial sector reforms, rectification from central inspections, and institutional reform execution. It also aims to standardize management of affiliated units and improve internal audit mechanisms with better supervisory coordination and team capabilities.
Institutional developmentGovernanceAuditing
-
2025-03-26•United States•National Credit Union Administration
The National Credit Union Administration (NCUA) has returned Valwood Park Federal Credit Union in Carrollton, Texas, to member control, ending its conservatorship. The credit union, which entered conservatorship in January 2023 due to unsafe practices, recovered through strengthened controls and risk mitigation by a new management team. Valwood Park serves 2,686 members with USD 25.4 million in assets.
SupervisionAuthorisations & approvalsRecovery and resolution
-
2025-03-26•Italy•Bank of Italy
Bank of Italy Governor Fabio Panetta authored an editorial in the Financial Times emphasizing the need for pragmatism in European Central Bank rate-setting. The full English text is accessible via the Bank of Italy.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
-
2025-03-26•Italy•Bank of Italy
Bank of Italy Governor Fabio Panetta authored an opinion piece in the Financial Times, emphasizing the need for the European Central Bank to maintain pragmatism in setting interest rates.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
-
2025-03-26•Italy•Bank of Italy
The Bank of Italy, in collaboration with the Bank of Canada and BI Norwegian Business School, will host a conference on "Applied Macroeconomics in a Changing World" in Oslo on 11–12 September 2025. Keynote speakers include Professor Paolo Surico from London Business School and Silvia Miranda-Agrippino from the Federal Reserve Bank of New York.
Other
-
2025-03-26•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance announced that the Saeima Budget and Finance (Tax) Committee has endorsed proposals to refine cooperative credit union regulations, allowing lending to legal entities. The amendments introduce sector-specific safeguards, including Bank of Latvia authorisation for lending to legal persons, and set minimum thresholds for membership and capital. The changes are set to take effect on 1 October 2025.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-03-26•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York appointed Martin G. Morgado, president and CEO of Ives Bank, to its Community Depository Institutions Advisory Council (CDIAC). CDIAC includes representatives from commercial banks, thrift institutions, and credit unions in the Second District with assets under USD 10 billion, offering insights to the New York Fed. Members serve three-year terms, with biannual meetings with the New York Fed's leadership.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-03-26•Bermuda•Ministry of Finance (Bermuda)
Bermuda’s Premier and Minister of Finance, David Burt, attended the DC Blockchain Summit 2025 in Washington, D.C., focusing on financial innovation and international cooperation. He discussed Bermuda's digital finance regulation and its success in attracting firms like Coinbase and Circle. Burt also met with US congressional representatives and officials, including Wyoming Governor Mark Gordon and Senate Banking Committee chair Tim Scott.
Policy & regulationCooperationFintech and insurtechBlockchain and distributed ledger technology
-
2025-03-26•Europe•European Banking Authority
The European Banking Authority's Consumer Trends Report 2024/25 highlights payment fraud, indebtedness, and unwarranted de-risking as key issues for EU consumers. Payment fraud is exacerbated by social engineering scams, while indebtedness is linked to Buy-Now-Pay-Later schemes and inadequate credit assessments. Unwarranted de-risking affects vulnerable groups, including migrants and cross-border workers.
ResearchConsumer and investor protection
-
2025-03-26•Europe•European Banking Authority
The European Banking Authority's ninth biennial Consumer Trends Report for 2024/25 highlights payment fraud, indebtedness, and de-risking as key consumer issues in the EU. The report notes the rise of social engineering fraud, the impact of 'Buy-Now-Pay-Later' schemes on indebtedness, and challenges in accessing payment accounts for vulnerable groups. The EBA plans to address these issues in 2025/26 to strengthen consumer protection.
ResearchConsumer and investor protection
-
2025-03-26•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) released templates for institutions to standardize governance and diversity data on management bodies, covering demographic composition, diversity policies, and gender pay gap metrics. The templates require detailed information on management and supervisory board members, including gender, age, and geographic origin, as well as diversity strategies and targets. Institutions must report on gender pay gaps using both median and mean measures, comparing remuneration across genders.
SupervisionRegulatory reportingCorporate governance
-
2025-03-26•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau, led by Acting Director Russ Vought, is asking a court to vacate its settlement with Townstone Financial and refund the penalty, closing the case after an internal review. The original case, based on a "redlining screen," flagged Townstone for alleged racial disparities in mortgage statistics and radio show content. The Bureau's filing seeks to dismiss the case and return the penalty paid.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
-
2025-03-26•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission reported a 56% increase in total net profits to HKD 44.4 billion for Hong Kong's securities industry in 2024. Total income rose 11% to HKD 222.6 billion, with transaction values up 34% to HKD 144.1 trillion. Notable income growth included an 18% rise in net securities commission income and a 118% increase in underwriting and placing income.
Data & statisticsActivity and performance reporting
-
2025-03-26•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation introduced the Jurisdictional Roadmap Development Tool under the International Sustainability Standards Board’s Regulatory Implementation Programme. This tool aids jurisdictions in planning the adoption or use of ISSB Standards, focusing on regulatory processes, entity scope, disclosure content, and readiness. Templates from the Inaugural Jurisdictional Guide were also released to assist in communicating decisions and outcomes.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
-
2025-03-26•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 granted a licence for actuarial activities under Order No. B-71, signed by Deputy Chair Ganiya Serkbaykyzy Uzbayeva.
SupervisionAuthorisations & approvalsLicence approval
-
2025-03-26•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning regarding five websites not linked to any authorised investment service providers under Article 5 of Law 87(I)/2017. The websites include generalfx.io, fintelligence24.com, rcmbrokerslimited.com, xbmkforex.com, and oakwell.finance. CySEC advises investors to check firms' licensing status on its website before engaging in business.
SupervisionAlertsUnlicensed or unauthorized activity
-
2025-03-26•Belgium•National Bank of Belgium
The National Bank of Belgium reported a EUR 3.679 billion loss for 2024, driven by net interest expenses and losses on securities sales, resulting in no dividends for the year. The Bank's reserves were fully depleted, drawing EUR 803.8 million from available reserves and EUR 2.3223 billion from the reserve fund. An unqualified opinion was issued by the independent auditor.
Institutional developmentGovernance
-
2025-03-26•Bulgaria•National Bank of Bulgaria
Bulgaria’s National Assembly re-elected Radoslav Milenkov as deputy governor of the Bulgarian National Bank, overseeing the Banking Supervision department, for a second six-year term. The proposal was made by Governor Dimitar Radev.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-03-26•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks or request sensitive information via phone, email, or SMS. Affected customers should contact Chong Hing Bank and report to the Police.
SupervisionAlertsFraud and scams
-
2025-03-26•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens associated with The Bank of East Asia, Limited. Customers are reminded that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Those affected should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
-
2025-03-26•Global•Bank for International Settlements
The Bank for International Settlements released a working paper evaluating word embeddings from central bank communications to predict inflation. Using the European Central Bank's statements, the study found that embedding-based text measures enhance euro area core inflation forecasts and outperform traditional sentiment and dictionary-based methods. The paper highlights challenges in interpreting embedding factors and generalizing results across different central banks.
ResearchOther
-
2025-03-26•Global•Bank for International Settlements
The Bank for International Settlements' latest Basel III monitoring exercise shows an increase in risk-based capital ratios for large banks in early 2024, while leverage and Net Stable Funding Ratios stayed stable, and the Liquidity Coverage Ratio slightly declined. Group 1 banks experienced a Tier 1 capital impact rise to +1.9%, with a EUR 0.9 billion Tier 2 shortfall. The report features redesigned dashboards and expanded text on market and credit risks, covering 176 banks, including 115 Group 1 banks.
ResearchFinancial and market indicatorsSupervisory data
-
2025-03-26•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency issued a circular granting temporary relief in capital adequacy calculations for listed insurers, reinsurers, and pension companies. Treasury shares acquired through share buybacks on Borsa Istanbul A.S.’s Equity Market from 17 March 2025 to 31 December 2025 will not be deducted from equity. This exception is based on Article 4(6) of the relevant regulation and is effective immediately.
Policy & regulationGuidance & interpretationCapital adequacy
-
2025-03-26•United States•Federal Reserve Bank of Cleveland
Research from the Federal Reserve Bank of Cleveland shows persistent residual seasonality in the PCE price index, with higher inflation in January and lower in November and December, despite adjustments. Data since 1987 reveals average headline PCE inflation of 0.26% in January versus 0.13% in December and 0.10% in November, complicating month-to-month interpretation. Similar patterns in other PCE measures indicate significant economic and statistical differences.
Research
-
2025-03-26•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission (OIC) plans to enhance insurance sector supervision through a two-stage approach aligned with Insurance Core Principles Principle 23. "Solo Consolidation" will cover insurers and subsidiaries with at least 20% ownership, while "Full Consolidation" will extend to the ultimate parent and controlled entities. The OIC is gathering input on governance and risk management, aiming to complete the framework by 2026.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
-
2025-03-26•Mexico•CONDUSEF
Mexico's CONDUSEF reported identity impersonation incidents involving 14 registered financial institutions in early 2025. The cases involved unauthorized use of corporate names and logos to mislead individuals seeking financial services. CONDUSEF emphasized using the System of Registry of Financial Service Providers (SIPRES) to verify legitimate providers.
SupervisionAlertsFraud and scams
-
2025-03-26•Europe•European Central Bank
The European Central Bank's working paper examines the impact of simultaneous monetary policy and macroprudential tightening on euro area banks, revealing no significant lending contraction for average banks but an amplification effect for those with minimal capital headroom. Using AnaCredit data, the study finds that increased buffer requirements notably reduce lending and risk-taking, particularly for banks with the least capital headroom. These findings reflect the authors' views, not the ECB's official stance.
Research
-
2025-03-26•Europe•European Central Bank
The European Central Bank's Working Paper No 3044 by Madalen Castells-Jauregui examines the private production of safe assets and its financial stability implications. It suggests that scarcity of safe assets leads intermediaries to increase diversification, weakening screening incentives and reducing loan quality. The paper argues for loan risk-retention requirements to enhance screening and highlights the limited effectiveness of capital regulation and public provision of safe assets in addressing inefficiencies.
ResearchFinancial stability and systemic riskPrudential risks
-
2025-03-26•Europe•European Central Bank
The European Central Bank's research shows employment at young firms is highly sensitive to monetary policy tightening, while large firms exhibit more significant wage adjustments than small firms. A 25 basis point tightening reduces employment probability by 0.17%, with young firms facing higher unemployment risk. Wages at large firms decline by 1.7%, with smaller firms showing a smaller decrease, highlighting wage heterogeneity driven by pass-through effects rather than investment or turnover impacts.
Research
-
2025-03-26•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) and the Ministry of Management and Innovation in Public Services have released the fourth phase of updates to the EVA PREVIC management information dashboard. This update enhances content and navigation, introduces a benefit plan information panel for 1,200 plans, and redesigns the entity dashboard layout. The project, under Technical Cooperation Agreement 138/2023, aims for completion by June 2025, with plans for an open-access panel for broader data consultation.
Policy & regulationImplementation, projects & pilotsOther
-
2025-03-26•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has approved the IFSCA (Capital Market Intermediaries) Regulations, 2025, introducing a new framework for capital market intermediaries, replacing the 2021 regime. It adds 'Research Entity', removes 'Account Aggregator', and sets requirements for 'Distributors' and 'ESG Ratings and Data Products Providers'. The IFSCA (KYC Registration Agency) Regulations, 2025, establish a framework for registering and regulating KYC Registration Agencies, with mandatory KYC record uploads for all IFSCA-regulated entities.
Policy & regulationRules & requirements
-
2025-03-26•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendence of Banks of the Dominican Republic seeks public feedback on a proposal to reform the 2015 Regulation on Protection of Users of Financial Products and Services. The draft enhances consumer protection by tightening controls on financial product design, marketing, and advertising, standardizing terminology, and introducing new user rights and conduct requirements. Key measures include allowing customers to withhold payment on disputed transactions, extending complaint filing deadlines, and banning administrative barriers to product cancellation or switching.
Policy & regulationRules & requirementsConsumer and investor protection
-
2025-03-26•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam has extended the fieldwork for the Brunei Darussalam Financial Inclusion Demand-Side Survey 2025 to 30 April 2025. Conducted by Universiti Teknologi Brunei, the survey aims to assess financial inclusion levels and identify barriers to accessing financial products and services. The survey will involve face-to-face interviews with 2,600 individuals nationwide.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
-
2025-03-26•Oman•Central Bank of Oman
The Central Bank of Oman will mandate the use of the International Bank Account Number (IBAN) for all domestic and international transactions starting 1 July 2025. Local banks must cease accepting cross-border transfers without an IBAN and are required to conduct customer awareness campaigns to facilitate the transition. This follows the initial implementation of IBAN for international transfers on 31 March 2024.
Policy & regulationRules & requirementsPayments and payment systems
-
2025-03-26•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) convicted Miner Ltda. EPP and several individuals for unlicensed securities portfolio management and fraudulent market operations, imposing fines totaling BRL 197.5 million. Five individuals received 60-month bans for creating artificial market conditions, while Jorge Saraiva Neto was fined BRL 340,000 for disclosure failures. BDO RCS Auditores Independentes SS was acquitted in an audit standards case, and judgment was suspended in a private equity fund fraud proceeding.
EnforcementInvestigations & enforcement actionsAuditing
-
2025-03-26•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority plans to consult in 2025 and 2026 on expiring class exemption and designation notices, including those related to climate statements, Australian licensees, and overseas banks. Updates will be provided on their website, with email alerts for new consultations.
Policy & regulationReform agendas & prioritiesAccounting and financial reporting
-
2025-03-26•Canada•Ontario Securities Commission
The Ontario Securities Commission appointed four new members to its Investor Advisory Panel (IAP) for two-year terms following a public application process. Rozanne Reszel and Jacqueline Sanz will start on April 1, 2025, while Gail Henderson and Nathan Shaheen will begin on July 2, 2025. James Sinclair, an IAP member since 2021, was confirmed as Chair effective February 3, 2025.
Institutional developmentLeadership change & appointmentsHiring and recruitment
-
2025-03-26•Albania•Albania Financial Services Authority
The Board of the Albania Financial Services Authority approved the 2024 annual report, audited financial statements, and supervisory decisions impacting the insurance and capital market sectors. Key approvals included technical provisions for insurers, risk premium for compulsory motor insurance, and various appointments and reappointments in industry entities.
SupervisionAuthorisations & approvalsAuditing
-
2025-03-26•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay will sell at least USD 15 million a day in the foreign exchange market from March 27, 2025.
Monetary policyMonetary policy instruments & operationsForeign exchange policy and markets
-
2025-03-26•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission will host the ASEAN Investment Conference 2025 in Kuala Lumpur on 8–9 April, focusing on regional investment opportunities under Malaysia’s ASEAN Chairmanship. In collaboration with AFFIN Group, CGS International Securities Malaysia, and RHB Banking Group, the event will feature discussions on digital transformation, sustainable finance, and capital market opportunities. The Prime Minister of Malaysia will inaugurate the conference and launch the ASEAN Simplified ESG Disclosure Guide for SMEs in Supply Chains.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
-
2025-03-26•Vanuatu•Vanuatu Financial Services Commission
Vanuatu's Parliament enacted the Virtual Asset Service Providers Act, creating a regulatory framework for licensing and overseeing Virtual Asset Service Providers, including initial token offerings and a fintech sandbox. The Vanuatu Financial Services Commission will regulate the industry, aligning with international standards, while clarifying that virtual assets and cryptocurrencies are not legal tender and are intended for sophisticated investors only.
Policy & regulationRules & requirements
-
2025-03-26•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) clarified the regulatory position for UK credit unions using Credit Union Service Organisations (CUSOs) and plans to consult on rule changes. The PRA supports compliant CUSOs, noting benefits and risks like inadequate governance. The consultation will propose PRA Rulebook amendments to allow surplus-fund investments in CUSOs, subject to compliance and supervisory expectations on due diligence and risk management.
Policy & regulationGuidance & interpretationOther
-
2025-03-26•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission advises holders of two Power Line Engineering bond series to review information and join an electronic bondholders’ meeting on 28 March 2025. The meeting will discuss waiving an event of default and changing a financial covenant, specifically raising the Interest-Bearing Debt to Equity Ratio from 4:1 to 5:1. Bondholders should consider the representative's assessment of the proposal's benefits and drawbacks before voting.
SupervisionAuthorisations & approvalsCorporate governance
-
2025-03-26•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada outlined modernization efforts and regulatory changes impacting reporting entities, including new anti-money laundering measures from Budgets 2024 and 2023. Key updates include private-to-private information sharing, new obligations for financial entities, and enhanced reporting requirements effective from 2025. FINTRAC will provide guidance and adapt reporting tools, with system improvements and phased enrollment ongoing.
Policy & regulationRules & requirementsAML and CFT
-
2025-03-26•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC issued guidance on applying its anti-money laundering and anti-terrorist financing regime to cheque cashing services, effective April 1, 2025. Cheque cashers must comply with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, including registration, compliance programs, and transaction reporting. FINTRAC will focus on engagement and guidance activities in the first year to assist new reporting entities in compliance program development.
Policy & regulationGuidance & interpretationAML and CFT
-
2025-03-26•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC issued guidance for financing or leasing entities on compliance with Canada's anti-money laundering and anti-terrorist financing regime, effective April 1, 2025. It outlines when entities are subject to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and Regulations, detailing compliance program requirements, know-your-client measures, and transaction reporting. FINTRAC will focus on engagement and guidance for new reporting entities in the first year.
Policy & regulationGuidance & interpretationAML and CFT
-
2025-03-26•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC has announced that businesses in factoring will face anti-money laundering and anti-terrorist financing obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act starting 1 April 2025. Requirements include compliance programs, know-your-client obligations, transaction reporting, and record keeping. FINTRAC can impose penalties for non-compliance but will focus on engagement and guidance in the first year to aid new reporting entities.
Policy & regulationGuidance & interpretationAML and CFT
-
2025-03-26•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs highlighted a fireside chat between Chairman Tim Scott and House Financial Services Committee Chairman French Hill at the DC Blockchain Summit 2025, focusing on regulatory clarity for digital assets and retaining innovation in the U.S. Scott emphasized the GENIUS Act's bipartisan support and advocated for a permissive regulatory approach to encourage onshoring and maintain U.S. digital supremacy, underscoring digital assets' potential to democratize finance and expand access to financial services.
Policy & regulationReform agendas & prioritiesBlockchain and distributed ledger technology
-
2025-03-26•Hungary•National Bank of Hungary
The National Bank of Hungary has nominated Tibor Tóth as CEO of the Budapest Stock Exchange, effective 1 May 2025, succeeding Richárd Végh. This leadership change aligns with the central bank's goal to enhance Hungarian businesses' capital access and strengthen the stock exchange's regional role. Tóth's background includes roles as state secretary for macroeconomic and international affairs and senior positions at Citibank and KDB Bank.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-03-26•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini's January/February 2025 report highlights a 1.4% GDP growth in Q3 2024, with inflation rising to 4.1% in January 2025. Despite maintaining the discount and prime lending rates, gross official reserves fell below the 3.0-month import cover benchmark in February due to net ZAR outflows. Private sector credit and broad money saw growth in January, while the nonperforming loan ratio increased to 7.8%.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
-
2025-03-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has relieved five civil servants of their roles as judicial experts in the monetary and banking field, withdrawing their judicial expert cards. The removals, affecting staff at provincial branches in Binh Thuan, Lam Dong, An Giang, and Binh Dinh, were due to changes in employment status, including one resignation and four retirements.
Institutional developmentWorkforce & recruitmentOther
-
2025-03-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reviewed operations and challenges in SBV Region 3 following its reorganisation into a regional unit. This consolidation involved merging four provincial branches into one of 15 regional units nationwide. SBV leadership emphasized stabilizing the new model and focusing on core banking tasks, including monetary operations and staffing rationalization.
Institutional developmentMandate & organizational structureOrganizational structure
-
2025-03-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reviewed operations after merging five provincial branches into Regional Office 14, stressing the need to avoid bottlenecks in payments and services. Governor Nguyen Thi Hong highlighted the restructuring from 63 branches to 15 regional offices, urging swift adaptation. Regional Office 14, covering multiple provinces, reported smooth operations post-merger and called for updated guidance and local coordination.
Institutional developmentMandate & organizational structureOrganizational structure
-
2025-03-26•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Transaction Office announced the settlement of three Vietnam Asset Management Company (VAMC) special bonds, totaling VND 3,723,773,528, with An Binh Commercial Joint Stock Bank (ABBank) authorized to manage collateral for a loan to EXIMLINE Joint Stock Company. VAMC will transfer recovered proceeds to ABBank, which must remit amounts due once entitlement rules are issued. ABBank is selecting a valuation service provider for collateral sale.
Policy & regulationRules & requirementsOther
-
2025-03-26•Honduras•Comisión Nacional de Bancos y Seguros de Honduras
The Honduras National Commission of Banks and Insurance (CNBS) issued updated supervisory instructions for banking institutions within financial groups regarding the timing and preparation of Preventive Recovery Plans (PPR). The CNBS maintained the 31 March deadline for PPR updates but allowed banks to use ICAAP projections from the previous July as the base year. Additionally, CNBS withdrew Resolution SBO No. 089/16-02-2024.
SupervisionRegulatory reportingRecovery and resolution
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee issued a statement and released its Financial Stability Report, accompanied by a webcast press conference featuring Governor Ásgeir Jónsson and other officials.
ResearchFinancial stability and systemic risk
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee assessed the financial system as resilient, maintaining the countercyclical capital buffer at 2.5%. Despite challenges from inflation and high interest rates, strong capital and liquidity in banks and robust household balance sheets were noted, with external risks and operational security flagged as areas for vigilance.
Monetary policyMonetary policy instruments & operationsFinancial stability and systemic riskMacroprudential policy and tools
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its Financial Stability report 2025/1, offering a semi-annual assessment of the financial system's strengths, weaknesses, and associated macroeconomic and operational risks.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland released a statement by its Financial Stability Committee and its Financial Stability Report, with a webcast press conference scheduled to discuss both, led by Governor Ásgeir Jónsson and other key officials.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee maintained the countercyclical capital buffer at 2.5%, citing the financial system's resilience and strong capital and liquidity positions of systemically important banks. The committee noted risks from geopolitical tensions and protectionism, while emphasizing the need for robust contingency planning and operational security in financial market infrastructure.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMacroprudential policy and tools
-
2025-03-26•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its semi-annual Financial Stability report (2025/1), detailing the financial system's current strengths, vulnerabilities, and macroeconomic and operational risks.
ResearchFinancial stability and systemic risk
-
2025-03-26•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority and the European Securities and Markets Authority warn against using AI tools for financial investments due to high risks and potential losses. These unsupervised language models lack regulatory oversight and protections of regulated firms. Authorities stress these tools cannot predict market developments and may operate unpredictably, urging investors not to rely solely on them.
SupervisionAlertsArtificial intelligence
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a thematic supervision report on Horisont Kapitalforvaltning AS, focusing on the valuation of less marketable products like unlisted securities and alternative investment funds. The authority reviewed the firm's explanations and documentation without further comment.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority's inspection of Cleaves Securities AS found breaches in product governance, client reclassification, suitability assessments, and customer communications. The firm failed to identify target markets for high-risk products, improperly reclassified customers, and inadequately assessed investment suitability. Additionally, communications overstated tradability and understated liquidity risks.
SupervisionReviews, inspections & stress testsCorporate governance
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a report on Formue Norge AS's valuation practices for less marketable products, such as unlisted securities and alternative investment funds. The inspection found that the firm failed to adequately inform customers that periodic net asset value calculations do not reflect actual tradable prices for their holdings.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a thematic supervision report on Grieg Investor AS's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority acknowledged the firm's explanations and documentation, with no further comments.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a supervisory report on Gabler Investments AS's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority reviewed the firm's explanations and documentation and has no further comments.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released a supervisory report on DNB Bank ASA's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority acknowledged the bank's explanations and documentation without further comment.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet released a supervisory report on Cenzia AS's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority recorded the firm's explanations and documentation without further comment.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a thematic supervision report on Kraft Finans AS's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority stated it had no further comments after reviewing the firm's explanations and documentation.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released a report on its thematic inspection of Norcap AS, focusing on the valuation of less tradable products like unlisted securities and alternative investment funds. The authority acknowledged the firm's explanations and documentation, with no further comments.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority imposed a NOK 30 million fine on Sparebank 1 Østlandet for failing to meet anti-money laundering requirements. The inspection revealed deficiencies in resources, training, internal controls, and customer due diligence. The bank is ordered to conduct remedial actions, with an appeal lodged against the decision.
EnforcementInvestigations & enforcement actionsAML and CFT
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released a thematic supervision report on Pensum Asset Management AS's valuation of less marketable products, such as unlisted securities and alternative investment funds. The authority had no further comments following its review of the firm's explanations and documentation.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released a thematic inspection report on Nordea Bank Abp's Norwegian branch, focusing on the valuation of less marketable products such as unlisted securities and alternative investment funds. The authority considered the bank's explanations and documentation and had no further comments.
SupervisionReviews, inspections & stress testsValuation
-
2025-03-26•Canada•Payments Canada
Payments Canada announced that the Real-Time Rail (RTR) clearing and settlement component has surpassed 50% completion, with the real-time exchange replatforming also over halfway. The RTR system will enable instant fund transfers between financial institutions and include centralized fraud services. The program is on track for testing later this year, with a launch expected post-completion of integrated testing.
Policy & regulationImplementation, projects & pilotsMarket infrastructurePayments and payment systems
-
2025-03-26•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority released a report highlighting risks in how payment and e-money institutions handle client funds. Several firms improperly commingle their own funds with client money, posing insolvency risks, and corrective measures are expected. Key issues include fees, settlement buffers, and interest earnings improperly held in client accounts, with ongoing supervision and inspections anticipated.
SupervisionReviews, inspections & stress testsClient asset custody and safekeeping