The Bank of Italy will host its third biennial workshop on microsimulation in Rome on 4 July 2025. The event will address the effects of tax and benefit reforms on household income and the use of microsimulation models for firms, featuring a keynote by Professor Camille Landais from the London School of Economics.
The European Banking Authority has opened a public consultation on draft Regulatory Technical Standards to set activity thresholds for Central Securities Depositories (CSDs) offering banking-type ancillary services. The standards propose staggered, risk-sensitive requirements, with a maximum activity level of 2.5% of annual securities transactions before full compliance is required. Below 1.5%, CSDs must meet basic prudential requirements, including creditworthiness and liquidity risk management.
The Bank of the Lao PDR and the Lao National Chamber of Commerce and Industry held a policy meeting to promote using the Lao kip and Vietnamese dong for bilateral trade payments, aiming to lower transaction costs and reduce foreign currency demand. Over 140 participants, including commercial banks and business units, were briefed on operational guidance and preferential policies for kip–dong transactions. Feedback from the session will inform efforts to enhance cross-currency settlement measures.
The Bank of the Lao held an annual review meeting on savings and credit cooperatives, assessing 2024 results and setting the 2025 agenda. Key issues included slow legal framework development and supervisory challenges. The meeting emphasized stronger accountability and compliance, with lending concentrated in agriculture, trade, and services.
Guernsey’s Ministry of Finance announced that HSBC, Lloyds, and RBS International have agreed to provide ongoing funding for Guernsey Community Savings (GCS), a charity aiding those without essential banking access. The agreement was facilitated by the States of Guernsey as a neutral third party. Since 2020, GCS has assisted nearly 200 islanders in accessing banking services and improving financial management.
The Financial Conduct Authority (FCA) has issued a Decision Notice fining Crispin Odey of Odey Asset Management LLP GBP 1.8 million and banning him from the UK financial services industry for a lack of integrity. Mr. Odey has referred the Decision Notice to the Upper Tribunal, making the findings provisional. The FCA alleges Mr. Odey frustrated internal disciplinary processes and misused his majority shareholding to alter the firm's governance, leading to regulatory breaches.
The Central Bank of Colombia has issued an external circular letter inviting individuals, micro businesses, and small businesses to participate in its Payment Services Survey (ESPA-BR). The survey, conducted by Cifras & Conceptos, aims to understand the use of various retail payment services, including immediate payments. Responses will be confidential and used solely for statistical purposes.
The President of the Republic of Finland has reappointed Olli Rehn as Chair of the Board of the Bank of Finland, effective 12 July 2025. This role also includes serving as Governor for a seven-year term.
William J. Pulte has been sworn in as the fifth Director of the Federal Housing Finance Agency for a five-year term. He will oversee Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, focusing on their safety and soundness. The agency supervises entities providing over USD 8.5 trillion in funding for US mortgage markets.
Peru's Superintendency of Banking, Insurance and Pension Funds Administrators (SBS) issued Resolution No. 0907-2025, permitting pension fund administrators to invest in local equity participation instruments or shares via private offerings. Conditions include a minimum issuance value of USD 80 million, independent valuation, and trading through Private Pension System mechanisms, with a commitment to list securities within three years.
The Hong Kong Securities and Futures Commission (SFC) has initiated legal proceedings against eight former directors of 3DG Holdings (International) Limited for allegedly failing to prevent the misappropriation of HKD 74.4 million. The SFC claims the funds were misappropriated through a scheme involving acquiring a money lender’s licence and subsequent defaulted loans. The SFC seeks director disqualification and compensation orders under section 214(2)(d) of the Securities and Futures Ordinance.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has issued JSC WindoW Capital licence No. 3.2.256 for securities market activities, following Deputy Chair’s order No. B-64.
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan reissued JSC Bereke Bank’s licence to operate in the securities market. This follows an order signed by the Deputy Chairman on 12 March 2025. Bereke Bank is a subsidiary of Lesha Bank LLC.
APRA stressed the growing importance of strategic risk for mutual banks due to customer behavior shifts, technology, and cyber threats. Its review of recovery and exit planning, before CPS 190's 2025 implementation, found issues like late triggers and complex plans without non-financial indicators. APRA noted governance challenges in board skills and tenure, aiming to modernize expectations. It warned that inadequate CPS 190 preparation could prompt supervisory intervention and is working with the Council of Financial Regulators to boost competition and consumer choice while ensuring stability.
CySEC announced its Global Money Week 2025 programme, focusing on financial education for youth in the digital financial environment. Activities include lectures, speeches, educational material distribution, social media campaigns, and an online quiz on digital scams. CySEC also participated in an international conference and hosted a stakeholder workshop under the Cyprus Committee for Financial Literacy and Education.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens reported by Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords or One-Time Passwords. Individuals who interacted with these fraudulent sites are advised to contact Chong Hing Bank and report to the Police.
The Hong Kong Monetary Authority issued a public alert regarding fraudulent websites and internet banking login screens associated with China Construction Bank (Asia) Corporation Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through such means. Affected customers are advised to contact the bank and report to the Police.
The Hong Kong Monetary Authority (HKMA) issued a public alert about fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information this way. Individuals who have shared personal information or conducted transactions on these fraudulent sites should contact the bank and report to the Police.
The Hong Kong Monetary Authority released the key analytical accounts of the Exchange Fund as of end-February 2025, showing a decrease in foreign assets by HKD 46.5 billion to HKD 3,439.9 billion. The Monetary Base was reported at HKD 1,975.9 billion, comprising various financial instruments. This data is part of the monthly Exchange Fund releases under the International Monetary Fund’s Special Data Dissemination Standard.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding phishing instant messages reported by Industrial and Commercial Bank of China (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. It advised affected individuals to contact the bank and report to the Police.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent mobile application linked to Bank of Communications (Hong Kong) Limited. The HKMA reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through such means. Customers who interacted with the app are advised to contact the bank and report to the Police.
The Thailand Office of Insurance Commission and the Thai General Insurance Association held a joint briefing on a suspected organized insurance fraud scheme involving staged motor accidents with claims exceeding THB 14 million. They agreed to pursue a criminal complaint.
The European Central Bank's Occasional Paper No 370 assesses the EU’s sustainability disclosure and due diligence rules in curbing greenwashing. It concludes that the EU taxonomy, Corporate Sustainability Reporting Directive, and Corporate Sustainability Due Diligence Directive, along with ESG requirements in the banking package, establish a framework to reduce misrepresentation through standardized disclosures and increased accountability, contingent on credible implementation. The paper recommends future regulations enhance this framework by maintaining core anti-greenwashing features and addressing gaps like banks’ facilitated emissions targets.
The European Central Bank's weekly financial statement reports a balance sheet total of EUR 6,274,495 million, a decrease of EUR 13,285 million from the previous week. Key changes include a EUR 14,722 million decline in securities held for monetary policy purposes and a EUR 1,323 million reduction in main refinancing operations. Banknotes in circulation decreased by EUR 420 million, while the deposit facility rose by EUR 124 million.
The National Bank of the Republic of Tajikistan has licensed Moore Stephens LLC to audit insurance organisations. The Insurance Supervision Department is instructed to register this authorisation in the relevant audit and licensing registers.
The South African Reserve Bank's National Payment System Department released a draft paper proposing a revised framework to enhance interoperability in the national payment system. Key proposals include mandating wallet-to-wallet, bank-account-to-wallet, agent, merchant, and domestic remittance provider interoperability. The paper also suggests adopting a standardised QR code scheme, developing an API harmonisation standard, and a phased move towards ISO 20022 adoption.
The South African Reserve Bank released a Working Paper evaluating the effectiveness of various inflation expectation measures in forecasting South African headline CPI inflation. The study finds that a factor-model-based linear combination of forecasts enhances accuracy over traditional aggregation methods, particularly at shorter horizons. The paper is preliminary research aimed at eliciting feedback and stimulating discussion.
The South African Reserve Bank’s Prudential Authority issued a draft exemption notice classifying certain payment activities, like electronic money and payment account provision, as not constituting “the business of a bank” under the Banks Act, 1990. Non-banks must partner with banks unless otherwise authorised. The exemption requires compliance with the National Payment System Act and will be effective upon the Reserve Bank's set implementation date.
The South African Reserve Bank's draft directive mandates authorisation for certain payment activities in the national payment system. It outlines application, governance, risk management, and prudential requirements, including initial capital and own-funds thresholds for non-banks. It specifies safeguarding client funds, e-money load limits, and reporting obligations, with a three-month effective date and a six-month transition for existing providers.
Bank of Spain Governor José Luis Escrivá, at the Spanish Banking Association’s AEB Banking Meeting, emphasized enhancing Europe’s financial autonomy, focusing on the digital euro, regulatory simplification, and the Savings and Investment Union agenda. He highlighted Europe's reliance on non-European payment providers and advocated for the digital euro as a complement to cash. Escrivá also called for simplified EU securitisation rules to bolster capital markets and address Europe's private investment gap.
The Central Bank of Bosnia and Herzegovina hosted a workshop to integrate financial education into the national education system, as part of efforts to enhance financial literacy. Participants, including economic faculties and financial sector representatives, developed an action plan and guidelines. The workshop emphasized cooperation between educational institutions, regulators, and the financial sector for successful implementation.
The Central Bank of the Philippines reported a USD 4.5 billion balance of payments deficit in Q4 2024, reversing a USD 1.9 billion surplus in Q4 2023, with a full-year 2024 surplus of USD 609 million, down from USD 3.7 billion in 2023. The Q4 shift was due to a higher current account deficit and net outflows in the financial account. Gross international reserves increased to USD 106.3 billion at end-2024, while the peso averaged PHP 58.15 per USD in Q4.
The Central Bank of the Philippines' 2021 Consumer Finance Survey highlights non-financial assets as the core of household wealth, with a shift towards formal and digital financial channels. Household debt decreased to 29.3% from 40.4% in 2018, and 91.5% of households reported wage income. Home appliances and equipment were the most widely held assets, while deposit accounts had the highest financial asset ownership rate.
The Central Bank of the Philippines reported a decrease in external debt to USD 137.63 billion as of December 2024, a 1.4% drop from September 2024, with the debt-to-GDP ratio falling to 29.8%. The decline was due to negative foreign-exchange revaluation, net acquisition of debt securities by residents, and net repayments, partially offset by prior-period adjustments. Year-on-year, external debt rose by 9.8%, driven by net availments and non-residents' acquisition of securities.
The Central Bank of Brunei Darussalam's Business Sentiment Index for January 2025 shows slight improvement, with the Current Business Conditions sub-index at 50.3. The index reflects cautious optimism due to post-holiday recovery and event demand, though a shorter working month may impact February activity. Investment and employment indices are stable, while cost expectations are slightly lower, particularly in Oil and Gas, Transport and Communications, and Manufacturing sectors.
The Vietnam State Securities Commission is now accepting application dossiers for the first 2025 round of its competency assessment examination in Ho Chi Minh City. Further details are provided in an attached document.
The German Bundesbank's January 2025 securities market statistics show a significant increase in bond market activity, with domestic and foreign debt securities in Germany rising by EUR 54.0 billion. Gross issuance reached EUR 155.0 billion, driven by public sector net issuance of EUR 15.6 billion and domestic credit institutions issuing EUR 13.8 billion net. Foreign investors and domestic banks were the main net buyers, while the Bundesbank's bond holdings decreased by EUR 10.5 billion due to maturing securities from the Eurosystem’s purchase programmes.
The Monetary Authority of Singapore and the Singapore Police Force issued a joint advisory warning of scams involving fraudsters impersonating MAS officials and representatives from NTUC Union and financial institutions. Since January 2025, at least six cases have resulted in losses totaling SGD 1.7 million. The scams involve unsolicited calls claiming outstanding premiums, leading victims to transfer funds under false pretenses.
The Ontario Securities Commission has issued a Canadian Securities Administrators (CSA) alert about fraudulent emails using CSA branding and executive names to claim they can recover fraud losses. The alert emphasizes that the CSA and its members will never solicit money or personal information for recovery services or enforcement actions. Investors are advised to verify suspicious communications through official CSA member contact details.
The Central Bank of Paraguay has lowered the maximum commissions charged for credit and debit card payment intermediation services. Caps will fall to 4 percent for credit cards and 3 percent for debit cards from July 1, 2025, then to 3 percent and 2 percent respectively from July 1, 2026. The measure applies to issuers and operators involved in electronic card payment intermediation.
The Bank of Tanzania refuted claims that Tanzanians abroad face difficulties opening bank accounts, affirming procedures are efficient. The central bank highlighted that diaspora customers can use a National Identification Authority ID or passport for account opening, with options for card collection or delivery. It urged banks to enhance customer education on procedures and pledged ongoing oversight to address any issues.
Bank Negara Malaysia announced the appointment of Encik Aznan bin Abdul Aziz as Deputy Governor for a three-year term starting 1 April 2025, overseeing supervision and regulation. Datuk Jessica Chew Cheng Lian will serve as Technical Adviser on financial stability, while Puan Cindy Siah Hooi Hoon is named Assistant Governor responsible for various supervision departments.
The Central Bank of the Republic of Kosovo reported a decrease in total assets to EUR 1.65 billion in February 2025, mainly due to reduced deposits, partially offset by increased pension-fund deposits. International reserve assets fell to EUR 1.28 billion, with declines in deposits and securities investments. Investments abroad rose slightly to EUR 1.17 billion, driven by higher deposit placements despite reduced securities holdings.
The Reserve Bank of Fiji and the Ministry of Women, Children and Social Protection formalized an insurance premium subsidy for 2,000 social welfare recipients, providing micro parametric insurance through SUN Insurance against climate and disaster risks. Part of a broader project to extend climate risk insurance to 5,000 vulnerable households, it is co-financed by the InsuResilience Solutions Fund and involves multiple partners, concluding on 31 July 2026.
Thailand’s SEC filed a criminal complaint against Mr. Jakchai Sakunekphaisan for alleged manipulation of share prices and trading volumes in three public companies. The SEC's investigation, prompted by a referral from the Stock Exchange of Thailand, found evidence of misleading trading practices in April and May 2024. Violations cited include sections of the Securities and Exchange Act B.E. 2535 (1992), with the matter also reported to the Anti-Money Laundering Office.
The European Association of CCP Clearing Houses published an interview with Jennifer Robertson from the European Commission on future clearing developments and EU reforms under EMIR 3. Robertson emphasized adapting regulatory frameworks to structural changes, new products like crypto, and technological impacts. She urged central counterparties and market practitioners to leverage EMIR 3 for new products and approaches, enhancing EU market liquidity and stability.
The Central Bank of Nigeria's February 2025 Household Expectations Survey shows improved consumer sentiment about the macroeconomy, with the next-month index rising to -5.8 and the three- and six-month indices turning positive. Despite this optimism, price perceptions remain negative, with expectations of further increases in household item costs. Households prioritize spending on food, household items, education, and transportation.
The Central Bank of Nigeria's February 2025 Business Expectations Survey shows firms' optimism about the macroeconomy, driven by a positive exchange rate outlook. The industry sector showed the highest confidence, while Mining, Quarrying, and Electricity, Gas and Water Supply sectors reported significant expansion plans for March 2025. Firms anticipate improved capacity utilisation and favourable business activity, expecting naira appreciation across all reviewed periods.
The Central Bank of Nigeria's February 2025 Inflation Expectations Survey Report shows a perception of moderating inflation among households and businesses, expecting gradual easing over six months. Medium-sized firms and higher-income urban households drive this sentiment, citing energy costs as the main influence. Respondents expecting inflation to decrease rose from 12.6% over the next month to 27.1% over six months, though 44.3% still anticipate an increase.
The Central Bank of Nigeria's February 2025 Purchasing Managers’ Index (PMI) indicates a second consecutive month of economic expansion, with a composite PMI of 51.4. Growth was observed in Output, New Orders, and Employment, while Stock of Raw Materials and Suppliers’ Delivery Time improved. Among 36 subsectors, 20 reported growth, notably Cement, while 14 declined, led by Non-metallic Mineral Products.
The State Bank of Vietnam (SBV) has established SBV Regional Branch 15 by consolidating its provincial branches in Kien Giang, An Giang, Dong Thap, and Ca Mau, with headquarters in Rach Gia city. The branch will manage monetary, banking, and foreign exchange activities across these provinces, overseeing over 100 credit institutions and 682 transaction points. Leadership appointments include Tran Van Phuoc as acting director and Vo Hong Nho, Lieu Tri Tai, and Vuong Tri Phong as deputies.
The State Bank of Vietnam, led by Standing Deputy Governor Dao Minh Tu, reviewed Regional Branch 15's operations after its reorganisation. Headquartered in Rach Gia City, the branch has stabilised its setup and continues core activities, overseeing monetary and banking across four provinces. Remaining issues include staffing and premises, with instructions to streamline operations and focus on local credit growth to support 2025 economic objectives.
Deputy Governor Pham Thanh Ha of the State Bank of Vietnam co-chaired the 29th ASEAN Senior Level Committee on Financial Integration meeting in Malaysia, focusing on regional financial integration and 2025 priorities for ASEAN banking cooperation. Discussions included macroeconomic outlooks, with the International Monetary Fund and ASEAN+3 Macroeconomic Research Office highlighting risks and growth forecasts. Working groups were commended for proposing strategic activities and key performance indicators for 2026-2030, aligning with the ASEAN Economic Community Strategic Plan.
The Ombudsman for Banking Services and Investments (OBSI) released its 2024 Annual Report, noting record-high consumer demand and increased case volumes. Banking cases rose 7% to 2,553, with fraud as the leading issue, while investment cases fell 2% to 649. OBSI highlighted low settlements, with consumers often receiving significantly less than recommended, and reported systemic issues in e-transfer fraud and account-opening policies affecting vulnerable consumers.
The International Monetary Fund outlined a private law framework for token-based central bank digital currencies, covering ownership, transfers, custody, banking uses, insolvency and cross-border issues. It concludes that most jurisdictions will likely need comprehensive legislation to preserve holders’ direct claims on central banks and provide legal certainty.
The Canadian Securities Administrators (CSA) issued an alert warning of fraudulent emails using CSA branding and executive names to promise fund recovery. The CSA emphasized that it never solicits money or personal information through unsolicited communications. Investors are advised to verify suspicious messages with their local securities regulator via official channels.
The Central Bank of Russia's quarterly Banking Sector review indicates a slowdown in lending in late 2024, with moderate credit and deposit growth expected in 2025 and weaker profitability. Corporate lending growth decelerated to 2.9% in Q4 2024, with projections of 8–13% growth in 2025. Consumer lending contracted by 2% in Q4 2024, with 2025 growth estimated between -1% and +4% due to tight monetary policies.
The Central Bank of Russia reported a 62.8% increase in total insurance premiums to RUB 3.7 trillion for 2024, driven primarily by life insurance. Other segments such as voluntary medical, motor, and corporate insurance also showed strong growth. Insurers' net profit rose nearly 1.5 times to RUB 462.8 billion.
The Chile Financial Market Commission will publish the certificate for the Conventional Current and Maximum Interest Rates in the Official Gazette on 15 March. As mandated by Law No. 18.010, this information is also available on the CMF's website to ensure transparency and timely disclosure.
The Chile Financial Market Commission (CMF) has decided to liquidate the Sartor Leasing Redeemable Investment Fund (SLRIF) and appointed Sartor Administradora General de Fondos as liquidator. This decision follows the seizure of the fund's assets by ASB Bank Corp. and concerns over debts and risks affecting asset quality and cash flow, which the CMF deemed detrimental to the fund's stability and contributors' rights.
The Federal Reserve Board has approved Renasant Corporation's application to merge with The First Bancshares, allowing it to indirectly acquire The First Bank.
The Federal Reserve Board has approved EverBank Financial Corp's acquisition of Sterling Bank and Trust, FSB.
The U.S. Securities and Exchange Commission extended the compliance dates for amendments to the Investment Company Act "Names Rule" by six months. Larger fund groups now have until 11 June 2026, and smaller groups until 11 December 2026, to comply. The extension aims to provide funds with additional time to implement changes and align with fiscal year-end reporting obligations.
The China Securities Regulatory Commission (CSRC) issued a supervisory guideline on bankruptcy reorganisation for listed companies, effective immediately, to support a joint memorandum with the Supreme People’s Court. The guideline delineates responsibilities between the CSRC and stock exchanges, mandates self-assessments by companies, and sets constraints on equity adjustments and reorganisation investor entry prices. It includes lock-up periods and prohibits early recognition of debt restructuring gains until uncertainties are resolved.
The Argentina Securities Commission (CNV) approved General Resolution No. 1058, establishing a regulatory framework for Virtual Asset Service Providers (PSAVs) under Law No. 27.739. It mandates registration, compliance, and operational standards, including cybersecurity, anti-money laundering controls, and risk disclosure, clarifying CNV's regulatory scope over PSAVs rather than virtual assets. The regulation fully enters into force on 31 December 2025, with specific adaptation deadlines for existing PSAVs.
Argentina's Securities Commission (CNV) approved General Resolution No. 1056, proposing two streamlined public offering regimes for financial trusts, featuring an abbreviated processing track and automatic authorisation for frequent issuances. This initiative aims to simplify processes and enhance flexibility in capital markets operations. The proposal was presented to market participants, including key stakeholders, in an informational meeting.
The China Banking and Insurance Regulatory Commission has mandated financial institutions to enhance consumer finance to boost consumption. The directive includes expanding consumer finance offerings, adjusting personal lending management, and providing relief for stressed borrowers. It also emphasizes increasing credit support for consumption-related sectors and improving consumer finance delivery and transparency.
China's National Financial Regulatory Administration has released draft revised Administrative Penalties Measures for public consultation, updating the former framework of the China Banking and Insurance Regulatory Commission. The draft includes 10 chapters and 100 articles, clarifying penalty decision-making, case-handling procedures, and introducing enhanced oversight and digitalisation. Feedback will be reviewed before final implementation.
China’s National Financial Regulatory Administration has released draft Administrative Penalty Measures for consultation, aligning with the revised Administrative Penalty Law. The draft outlines enhanced requirements for penalty decision-making, case handling, and digital supervision, with due process safeguards. Key proposals include separating investigation and decision-making functions, using electronic systems for legal documents, and implementing post-penalty evaluation mechanisms.
The Bank of Cape Verde’s Behavioural Supervision Office announced Global Money Week activities from 17 to 28 March 2025, focusing on financial education for children and young people. Events will address digital finance, AI-related risks, and behavioural finance, emphasizing critical assessment of online financial information. The campaign, themed “Think before you follow, wise money tomorrow,” targets community associations and schools in peripheral areas.
APRA has warned customer-owned banks about rising "strategic risk" in business models and corporate strategy, urging boards to adapt to the evolving banking landscape. APRA's 2024 thematic review highlighted deficiencies in banks' recovery and exit planning under Prudential Standard CPS 190, emphasizing the need for improved trigger frameworks and executable plans, while also addressing governance and operational risks.
The National Bank of Moldova announced the successful merger of Victoriabank and Banca Comercială Română Chișinău (BCR), leading to the withdrawal of BCR's banking licence. Victoriabank will manage former BCR customers' accounts and services.
The National Bank of Moldova's end-2024 assessment highlights loan-led balance sheet growth, improved portfolio quality, and a slight decline in profitability due to lower interest income. Total assets increased by 10.6% to MDL 170,175.0 million, with non-performing loans reduced to 4.1% of total loans. Regulatory updates for 2024 include Basel III and EU alignment, with new liquidity regulations effective July 2025, mandating monthly and quarterly reporting of liquidity coverage and net stable funding ratios.
The Bank of Korea released preliminary February 2025 data showing declines in export and import price indexes month-on-month in KRW terms, with year-on-year increases. The Export Price Index fell 0.6% from January but rose 6.3% over the year, while the Import Price Index decreased 0.8% month-on-month and increased 4.6% year-on-year. The Net Barter Terms of Trade Index improved by 1.2% year-on-year.
The Central Bank of the Bahamas released its March 2025 Bahamas Registered Stock secondary market price list, detailing bid and ask prices and yields for securities in its portfolio. The schedule includes ISIN, rate type, issue and maturity dates, nominal value, annual coupon, and bid/ask quotations. Yields range from 3.01% to 6.65%, with floating-rate coupons resetting semi-annually.
The Italian Securities Commission (Consob) has amended the Issuers' Regulation to enhance the review process of corporate sustainability reports, following a public consultation. The amendments introduce Article 89-quinquies, detailing procedures and deadlines for Consob's checks on sustainability reporting by listed issuers, and update Article 81-ter(1) to require attestation by the responsible executive using a specified template. Related documents are available on Consob’s website.
The Central Bank of Nicaragua has amended the rules for Simplified Savings Accounts (CAS), raising the maximum opening amounts to enhance financial inclusion. Effective from 05 March 2025, USD-denominated CAS can now be opened with up to USD 1,500, and córdoba-denominated CAS with up to NIO 100,000.
The Central Bank of Nicaragua is hosting the 303rd Central American Monetary Council meeting in Managua, focusing on the region's macroeconomic context and 2025 economic outlook. Discussions include the impact of major economies' tariff and migration policies, challenges for Central American integration, and innovative central banking initiatives. The agenda features contributions from the International Monetary Fund and the Inter-American Development Bank on regional policy challenges and lessons from Singapore's monetary framework.
The Dominican Republic's Pensions Superintendency (SIPEN) has introduced complementary pension plans through pension fund administrators (AFPs), offering a new voluntary retirement savings option. These plans allow early withdrawals for specific needs and are accessible to independent workers and those abroad via digital solutions like AFP Siembra’s Alcanza.do. The framework was established under Resolutions 476-23 and 475-23, detailing requirements for AFPs and the digital affiliation process.
The Hong Kong Insurance Authority alerted about two fraudulent websites and a phishing email impersonating AIA International Limited to steal personal or payment information. The websites use the domains “hxxps://insurance025[.]com” and “hxxps://huarejie45258houtai[.]top”, while the phishing email is from “aia@traffmagic[.]com”. AIA confirmed no connection to these sites or email, and the matter has been reported to the Hong Kong Police Force.
Egmont Group Executive Secretary Jerome Beaumont highlighted Financial Intelligence Units' role in combating online child sexual exploitation through financial intelligence at a Financial Action Task Force report event, emphasizing challenges in international information-sharing and the importance of public-private partnerships. Egmont contributed to the report and will continue supporting efforts with training, detection, and intervention.
The Central Bank of Colombia announced AVAL SOLUCIONES DIGITALES S.A. as a new participant in CENIT through External Circular Letter DSP-0056.
The Montenegro Capital Market Authority issued a warning about false information on social media promoting the NetherexPro platform through a fabricated interview with the Minister of Economic Development. The authority clarified that neither the Ministry of Economic Development nor the Government of Montenegro is associated with NetherexPro, and urged the public to avoid unverified platforms and report suspicious offers.
The Montenegro Capital Market Authority conducted two "Kapital" workshops for Oktoih primary school pupils, focusing on core capital market concepts through interactive games. Approximately 30 students participated in sessions on investing, risk assessment, and company valuation, receiving educational materials to aid ongoing learning.
The Bank of Greece reported a 3.3% increase in total assets of occupational pension funds in Q4 2024, reaching EUR 2,508 million. Deposits rose to EUR 73 million, while debt securities holdings grew to EUR 1,123 million, despite a decline in their share of total assets. Investment fund shares and equity holdings also increased, driven by net purchases and valuation gains, respectively.
The Australian Securities & Investments Commission (ASIC) has permanently banned Sydney-based financial adviser Peter Surtenich from providing financial services due to dishonest conduct. As a director of Suetonius Wealth Management Pty Ltd, Surtenich misled at least 18 clients into investing in a "Principal-protected Private Placement Program" by falsely claiming it was "capital protected" and similar to a cash investment. ASIC found he lacked necessary judgement and competence, ignoring red flags about transaction authenticity. Surtenich may seek a review of this decision by the Administrative Review Tribunal.
The Australian Securities & Investments Commission announced that Tim Xenos, former CEO of FAL Healthy Beverages Pty Ltd, was found guilty of making business decisions while disqualified due to bankruptcy, using his position dishonestly for personal gain, and failing to disclose information to his bankruptcy trustee. Xenos participated in significant business decisions, received a salary of USD 14,500, and used company funds to annul his bankruptcy, gaining AUD 111,342.95. The case, prosecuted by the Commonwealth Director of Public Prosecutions, relates to breaches of the Corporations Act 2001 and the Bankruptcy Act 1966, with sentencing scheduled for 11 April 2025.
Mexico's National Banking and Securities Commission reported that the 2024 National Financial Inclusion Survey shows financial inclusion increased by 8.7 percentage points since 2021, with eight in ten people holding at least one financial product. The survey also highlights a rise in accounts contracted via the internet or non-bank applications by 7.6 percentage points.
Mexico's National Banking and Securities Commission (CNBV) and the National Institute of Statistics and Geography (INEGI) released the 2024 National Survey of Financial Inclusion (ENIF), highlighting that nearly 80% of adults now have at least one formal financial product, the highest since 2015. The survey noted an eight-point rise in financial well-being from 2021 to 2024, with improvements among women and rural populations, though indigenous groups and rural residents still lag in digital finance usage.
ASIC's Report 805 highlights potential breaches of consumer protection laws by lenders offering small amount credit contracts. Some lenders may be moving vulnerable consumers into contracts with fewer protections, violating the Financial Service Reform Act 2022. Issues include non-compliance with responsible lending and design obligations, and business models circumventing protections. Data from December 2022 to August 2024 shows a shift to medium amount credit contracts with more missed repayments. Recent actions include penalties against Ausfinancial Pty Ltd and Ferratum Australia Pty Ltd, and Federal Court action against Sunshine Loans Pty Ltd. ASIC will continue investigating serious breaches.
The Central Bank of Cyprus, via the Cyprus Financial Literacy and Education Committee (KEHAP), announced events for Global Money Week to boost financial literacy among youth and the public. Activities include an international conference with the President of Cyprus, workshops for journalists and educators, and discussions on the national strategy at the Cyprus Securities and Exchange Commission. KEHAP's Coordination and Management Team at the Central Bank oversees the programme, with the conference streamed online.
The Central Bank of Cyprus has initiated the regular publication of aggregated data for Credit Facilities Managers and Credit Acquiring Companies to enhance transparency regarding non-performing loans and real estate. The semi-annual reports, starting from June 2024, detail loans held by CRCs by borrower type and performance status, as well as the total real estate stock.
The Belgium Financial Services and Markets Authority (FSMA) warned about "recovery room" fraud, where scammers target investment scam victims by offering to recover losses and then steal more funds. Tactics include unsolicited contact, impersonation of legitimate entities, and demands for upfront fees or remote computer access. The FSMA advises against responding to such offers and reminds consumers that financial supervisors do not recover lost money or contact victims proactively.
The Australian Securities & Investments Commission (ASIC) has initiated Federal Court proceedings against FIIG Securities Limited for alleged systemic cybersecurity failures. ASIC claims FIIG's inadequate cyber risk management from March 2019 to June 2023 allowed a hacker to steal 385GB of confidential data, affecting about 18,000 clients. Deficiencies included poor firewall management, outdated software, and lack of cybersecurity training. ASIC seeks declarations of contraventions, civil penalties, and compliance orders, marking its second cybersecurity enforcement action.
Tanzania's Ministry of Finance conducted a financial education session for Rorya District Council staff, emphasizing the Bank of Tanzania's 3.5% monthly interest rate cap for microfinance loans. The session covered borrower protections, including verifying interest rates and understanding loan terms, while UTT AMIS highlighted investment opportunities in government bonds and equities on the Dar es Salaam Stock Exchange.
Tanzania's Ministry of Finance held financial education sessions in Musoma to boost literacy among special groups, including those with hearing impairments, women, youth, and older people. Topics included personal financial management, savings, credit, and retirement planning, supported by the Bank of Tanzania and various banks. Sign-language interpretation was provided, emphasizing the need for ongoing interpreter training to enhance service quality.
Angola's Ministry of Finance, represented by Dilson Gaspar, plans a virtual commodity exchange for spot and forward transactions, emphasizing advanced foreign exchange risk hedging tools. Gaspar highlighted exchange rate volatility as a key challenge, while BODIVA's Executive Committee Chair, Cristina Lourenço, stressed capital markets' importance as a financing mechanism, noting recent trading admissions and bond issuances.
At the BPFI National Payments Conference, Central Bank of Ireland's Deputy Governor Vasileios Madouros emphasized closing gaps in Ireland's payments system and aligning with innovations like distributed ledger technology (DLT). He advocated for "pay-by-account" as a competitive alternative to cards, highlighting Ireland's lag in electronic payment offerings. Madouros also stressed the importance of the National Payments Strategy, DLT integration, and preparing for a Digital Euro while ensuring regulatory responsiveness and cash access.
The Central Bank of Costa Rica updated measures by the Interinstitutional Commission to combat electronic fraud and cybersecurity threats, focusing on enhancing the GAUDI platform for secure transactions and improving Simplified File Accounts (CES) protection. The update includes actions by banks, CONASSIF, the Judicial Investigation Agency, and the Public Prosecutor’s cybercrime unit, emphasizing short-term priorities within a broader work programme.
The Securities and Exchange Commission of Pakistan has issued a directive for selling life insurance savings products through technology-based channels, detailing updated onboarding, pricing, and investment conditions. The framework mandates low charge structures and investments in low-risk instruments, requiring insurers to offer products via websites, mobile apps, and independent platforms within a year. The directive is issued via S.R.O. 356(1)/2025.