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2025-03-13•China•Central Bank of the Republic of China
The People's Bank of China (PBOC) outlined its 2025 agenda, maintaining a "moderately loose" monetary policy with potential reserve requirement and interest-rate cuts. The PBOC aims to keep liquidity ample, align financial growth with economic targets, and enhance policy transparency while stabilizing the renminbi exchange rate. Priorities include using structural monetary tools to support technology, green, and inclusive finance, expanding macroprudential functions, and advancing financial market reforms.
Monetary policyMonetary policy framework & strategy
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2025-03-13•Italy•Bank of Italy
The Bank of Italy has published seven new research papers in its Temi di discussione series, addressing topics such as cross-border banking linkages, euro area macro risk measurement, and green innovation. The papers explore global banking networks, euro area GDP risk indicators, income distribution in France, and the effects of energy prices on ECB policy, among others.
ResearchOther
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2025-03-13•Italy•Bank of Italy
Bank of Italy Deputy Governor Alessandra Perrazzelli delivered a keynote speech on digital integration in trade at Universitas Mercatorum's conference. The speech, titled "Towards a legal landscape open to the digital integration of trade," is available online in Italian.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-03-13•Italy•Bank of Italy
The Bank of Italy released seven new Working Papers (Nos. 1479–1485) on banking complexity, macroeconomic risks, and inflation drivers. Key studies analyze GDP-at-risk for the euro area, income distribution in France, and energy prices' impact on European Central Bank policy during the 2021–22 energy crisis. Other papers examine greener technology effects, women inventors' roles, and household labour supply dynamics.
ResearchOther
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2025-03-13•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance, with other governmental bodies, launched the “Know Your Business” (eGov-KYB) platform to automate legal entity data retrieval for credit institutions. This initiative replaces paper submissions, facilitating due diligence with real-time data access and reducing documentation burdens. Legal representatives can access the platform via gov.gr or kyb.gov.gr, authenticate with TaxisNet credentials, and digitally approve data transmission.
Policy & regulationImplementation, projects & pilotsKYC
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2025-03-13•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority issued guidance for virtual asset businesses on Anti-Money Laundering and Countering the Financing of Terrorism programmes under the Financial Intelligence Act. It clarifies obligations related to money laundering, terrorism, and proliferation financing for virtual asset operations, aiming to enhance compliance and reporting of financial crimes.
Policy & regulationGuidance & interpretationAML and CFT
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2025-03-13•Laos•Bank of the Lao
The Bank of the Lao reported on its participation in the 29th ASEAN Senior Level Committee on Financial Integration, where regional macroeconomic outlooks and financial integration progress were reviewed. ASEAN GDP growth is projected at 4.7% in 2025, with Lao PDR at 4.6%, and inflation is expected to decrease to 3.1% in 2025. The Bank of the Lao, as joint chair, presented updates on ASEAN Capital Account and Financial Services Liberalisation.
Policy & regulationCooperationCross-border cooperation
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2025-03-13•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released a paper exploring changes to the UK's contactless card payment limit to enhance flexibility and support growth. It suggests a less prescriptive approach, allowing firms with strong fraud controls to set their own limits, while ensuring consumer protection and reimbursement for unauthorised fraud. The FCA notes 85% of UK residents use contactless payments monthly, with fraudulent spend reaching GBP 41.5m in 2023.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-03-13•T?rkiye•Capital Markets Board of Türkiye
The Capital Markets Board of Türkiye has issued two communiqués establishing a regulatory framework for crypto asset service providers under the Capital Markets Law. Communiqué III-35/B.1 outlines rules on incorporation, operations, management, and audits, while Communiqué III-35/B.2 addresses services, trading environments, custody, listing, and capital adequacy. These measures are effective immediately after publication in the Official Gazette.
Policy & regulationRules & requirementsLicensing framework and process
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2025-03-13•United States•Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis appointed Debbie Atuk, Cory Blankenship, and Kūhiō Lewis to the Leadership Council of its Center for Indian Country Development. The council advises on research and policy to enhance economic opportunities for Native nations and Indigenous communities. Members are appointed by Minneapolis Fed President Neel Kashkari.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-13•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) outlined its expanded role in scam-related disputes, including considering receiving banks' conduct and a proposed broader remit under the Scams Prevention Framework, extending regulation to telecommunications and social media. The government aims for AFCA to be the single external dispute resolution scheme for scam disputes, with changes requiring amendments to AFCA Rules and approval by the Australian Securities and Investments Commission, expected in 12 months.
Policy & regulationRules & requirementsComplaints and dispute resolution
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2025-03-13•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) has reduced the Deposit Insurance Fund (FSD) coverage cap to PEN 121,000 for March–May 2025, down from PEN 121,600 in the previous quarter. This adjustment reflects a negative variation in the Wholesale Price Index. The FSD provides protection for depositors when an authorised deposit-taking institution is intervened or liquidated by the SBS.
Policy & regulationRules & requirementsOther
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2025-03-13•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendencia de Banca, Seguros y AFP issued a regulation setting operational concentration limits for financial entities, aligning with Basel Committee and OECD standards. Implementing Legislative Decree No. 1646, it defines "large exposure" as financing equal to or exceeding 10% of Tier 1 regulatory capital and updates criteria for related persons and exposures to directors and employees. It also establishes rules for economic groups and methodologies for calculating new limits.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-03-13•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 Kazakhstan has issued licence No. 2.1.28 to Insurance Company Freedom Finance Insurance JSC. This licence permits the company to conduct insurance and reinsurance in the general insurance segment, covering mandatory civil liability insurance for private notaries and voluntary insurance of financial institutions’ losses, excluding certain classes specified in Kazakhstan’s Law on Insurance Activity.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-13•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 appointed Rafael Gafurovich Valeev as head of a management body in the securities market.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-13•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 Kazakhstan clarified that a borrower's loan remains outstanding even if a microfinance organisation (MFO) loses its licence, unless otherwise stated in the contract. In 2024, 17 MFOs voluntarily surrendered their licences and 12 were closed for legislative breaches. The Agency advises consumers to verify an MFO's licensing status and review key loan terms before borrowing.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-03-13•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority reported a 17% decline in foreign currency lending to private households in 2024, with outstanding volumes reduced to EUR 6.13 billion. Since the 2008 ban on new foreign currency loans, volumes have decreased by 90% on an exchange rate-adjusted basis. Nearly all remaining loans are in Swiss francs, with the currency appreciating 71.6% since 2008.
Data & statisticsLending
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2025-03-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) updated licence conditions for BUSS Queensland Pty Ltd, trustee for The Building Unions Superannuation Scheme (Queensland) (BUSSQ), requiring an independent review of its fit and proper processes and expenditure management. Initially imposed in August 2024, these conditions faced a judicial review, which was dismissed. BUSSQ will begin work under the revised conditions.
SupervisionInterventionsSupervision process and methodologies
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2025-03-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority's report for 31 December 2024 shows stable profitability for ADIs with balance-sheet growth and slightly reduced liquidity ratios. Net profit after tax was AUD 39.6bn, total assets AUD 6,621.5bn, and a capital ratio of 20.1%. Liquidity coverage, minimum liquidity holdings, and net stable funding ratios fell to 132.2%, 17.4%, and 116.0%. Residential mortgage lending rose to AUD 2,322.2bn, with non-performing loans at 1.05%. Commercial property exposures grew to AUD 439.6bn.
SupervisionRisk monitoring & watch pointsAsset qualityCapital adequacy
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2025-03-13•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) issued guidance clarifying the regulatory framework for finfluencers disseminating information on financial instruments and intermediation activities. The communication emphasizes compliance with legal requirements for both financial intermediaries and finfluencers in Portugal.
Policy & regulationGuidance & interpretationFintech and insurtechConsumer and investor protection
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2025-03-13•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance proposed that Dr. Olli Rehn be appointed by the President of the Republic for a second seven-year term as Governor of the Bank of Finland, starting 12 July. Rehn has been Governor and Chairman of the Board since 2018. The proposal follows a recommendation by the Bank of Finland’s Parliamentary Supervisory Council.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-13•Ghana•Bank of Ghana
The Bank of Ghana inaugurated its Board of Directors, with the Governor emphasizing a reset focused on financial stability and sound monetary policy. Priorities include restoring confidence, upholding price stability, and reinforcing governance amid macroeconomic instability and rising inflation. The Board is tasked with guiding policy direction with transparency and independence.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens linked to the Bank of East Asia. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected customers should contact the Bank of East Asia and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-03-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and fake internet banking login screen linked to China Minsheng Banking Corp., Ltd. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Individuals who interacted with the fraudulent site should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens linked to China Construction Bank (Asia) Corporation Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive personal information through these channels. Individuals affected by the fraudulent sites should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who interacted with these fraudulent sites should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Customers who interacted with these fraudulent sites should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-13•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission conducted a staff training programme to enhance organisational integrity and transparency in preparation for the 2025 Integrity and Transparency Assessment. The session featured guidance from the National Anti-Corruption Commission on evaluation and information disclosure, with over 140 participants attending.
Institutional developmentCooperation & capacity buildingOther
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2025-03-13•Europe•European Central Bank
The European Central Bank has initiated a pilot project to grant academic researchers access to anonymised bank-level data from the euro area. Up to ten research projects will be supported, with Eurosystem national central banks providing secure access through their research data centres. The pilot will test various access modes, with a review after 18 months to consider establishing a permanent infrastructure.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-03-13•Europe•European Central Bank
The European Central Bank's Working Paper No 3037 examines the macroeconomic impact of Pope John Paul II’s foreign visits, finding that exports from visited countries increased significantly towards trading partners with larger Catholic populations. Exports were 17.5% to 27.2% higher in countries with a 75th percentile Catholic population share compared to those at the 25th percentile, especially in poorer, non-OECD countries with weaker trade links. The findings suggest the effect is due to increased country profile rather than explicit economic messaging.
ResearchOther
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2025-03-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the European Bank for Reconstruction and Development discussed joint projects to enhance corporate governance, financial markets, and green financing. The central bank plans to create an information platform for project implementation and highlighted Tajikistan's Green Economy Development Strategy as a framework for green financing and institutional reforms. A strategy for developing the insurance system from 2025 to 2029 was also prepared, emphasizing cooperation with the EBRD to strengthen supervisory capacity and introduce new services.
Policy & regulationCooperationOther
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2025-03-13•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
SUSEP penalized Ernst & Young Serviços Atuariais S/S and three professionals for regulatory breaches in IRB Brasil Resseguros S/A’s 2019 actuarial audit. Deficiencies were found in assessing technical provisions and premature issuance of the actuarial opinion. Penalties include fines over BRL 1 million and a 4.4-year disqualification for one auditor, with EY jointly liable for the fines.
EnforcementInvestigations & enforcement actionsAuditing
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2025-03-13•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic released a report recommending enhancements to corporate governance at financial intermediation entities, aligning with Basel Core Principles. Based on a review of nine entities, it highlights areas for improvement in board and management selection, remuneration, and performance evaluation, aligning governance with international standards. The findings support the Superintendency's ongoing efforts to strengthen risk-based supervision.
Policy & regulationGuidance & interpretationCorporate governance
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2025-03-13•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam (BDCB) issued an alert regarding a fraudulent "Shariah Compliant Banking Certificate" falsely attributed to BDCB. The central bank confirmed the certificate's inauthenticity and warned against unauthorized use of its name and logo, which is punishable under Section 74A of the BDCB Order, 2010. BDCB advised the public to engage only with licensed financial institutions and report any suspicious activities.
SupervisionAlertsFraud and scams
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2025-03-13•Europe•European Council
The European Council released a letter from Eurogroup President Paschal Donohoe to Euro Summit President António Costa, outlining the Eurogroup's recent work and future priorities. Key areas include the euro area economic outlook, fiscal policy coordination, competitiveness, productivity, advancing the Capital Markets Union, and accelerating the digital euro. The letter emphasizes the importance of stable public finances and a digital European payment solution.
Policy & regulationReform agendas & prioritiesEconomic data and developmentsMarket development
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2025-03-13•Europe•European Council
The European Council released a speech by Eurogroup President Paschal Donohoe on the euro area finance ministers' policy agenda amid geopolitical fragmentation and increased defence demands. Key focuses include enhancing competitiveness, integrating capital markets, maintaining fiscal sustainability, and supporting the European Central Bank's digital euro project. The Eurogroup has endorsed strategies for economic resilience and is advancing proposals for the European Commission’s Savings and Investment Union initiative.
Policy & regulationReform agendas & prioritiesGeopolitical risk
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2025-03-13•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority issued a warning to Evco Pacific Limited and its directors for failing to meet disclosure obligations under the Financial Markets Conduct Act 2013 related to a share sale, and mandated the warning be disclosed on EVCO’s website and communications. The FMA found breaches of the Companies Act 1993, with non-compliance to the order punishable by a fine of up to NZD 300,000, effective for up to five years.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-03-13•Canada•Ontario Securities Commission
The Canadian Securities Administrators, Canadian Anti-Fraud Centre, and Royal Canadian Mounted Police issued a Fraud Prevention Month alert urging Canadians to report suspected investment scams and exercise caution with online investments due to rising fraud on digital platforms. The alert highlighted increased investment fraud among younger Canadians and noted CAFC-reported losses exceeding CAD 310 million in 2024. Spear phishing and romance scams were identified as prevalent methods in online investment fraud.
SupervisionAlertsFraud and scams
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2025-03-13•Solomon Islands•Central Bank of the Solomon Islands
The Central Bank of the Solomon Islands has introduced a new 1-dollar coin featuring King Charles III, declared legal tender by the Minister of Finance and Treasury. The coin, maintaining the previous design's size and shape, will be distributed via commercial banks, with CBSI conducting awareness campaigns on its design and significance.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-03-13•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC joined the International Forum of Independent Audit Regulators Workshop in Mauritius to enhance audit quality and financial reporting integrity. Alongside South Africa, it highlighted issues in revenue inspections under IFRS 15, citing misapplications in accounting policies and inadequate auditor evaluations. The SEC urged stricter oversight, improved auditor training, and stronger consultation policies, referencing SEC Memorandum Circular No. 1, Series of 2024.
SupervisionCooperationAuditing
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2025-03-13•Global•Network for Greening the Financial System
The Network for Greening the Financial System reported strong member support for integrating climate-related financial risks into central banking and financial supervision at its 2025 Annual Plenary Meeting in New Delhi. The meeting emphasized science-based analysis, practical tools, and forthcoming short-term climate scenarios to assess near-term macro-financial impacts.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-03-13•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported that Governor Ahmet Ismaili met with an IMF mission for the final review of Kosovo’s Stand-By Arrangement and Resilience and Sustainability Facility. Discussions focused on financial-sector developments, implementation of programme recommendations, and potential new IMF arrangements. The central bank emphasized aligning with EU standards and strengthening the financial system.
Policy & regulationCooperationOther
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2025-03-13•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission, with the Thai Digital Asset Operators Trade Association and digital asset businesses, aims to eliminate mule accounts by March 2025. The framework prevents fraud, money laundering, and cybercrime by blocking new mule accounts, detecting irregular behavior, and sharing information with authorities. Coordination with the Bank of Thailand and the Anti-Money Laundering Office is ongoing, with some operators already implementing measures.
Policy & regulationRules & requirementsAML and CFT
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2025-03-13•United Kingdom•HM Treasury
HM Treasury's annual report on UK anti-money laundering and counter-terrorist financing supervision details activities by 25 supervisors from April 2023 to April 2024. It includes supervisory and enforcement data, noting 13,058 applications with 954 rejections, 9,013 direct supervision actions, and GBP 41.5m in fines. The report highlights significant enforcement actions, including Financial Conduct Authority fines and cryptoasset firm registration outcomes, and outlines future policy milestones and expectations for improved data collection.
SupervisionOtherAML and CFT
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2025-03-13•Malta•Central Bank of Malta
A delegation from the Central Bank of Malta conducted a comprehensive governance audit at the Central Bank of the Republic of Kosovo from 4 to 7 March 2025.
SupervisionReviews, inspections & stress testsSupervision process and methodologies
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2025-03-13•Global•ISDA
The International Swaps and Derivatives Association (ISDA) has expanded its SwapsInfo database to include European credit default swap (CDS) trading activity, enhancing coverage of derivatives trading in the EU, UK, and US. Analysis shows that 70% to 80% of European CDS traded notional was reported in the UK, with index CDS comprising over 90% of reported European credit derivatives notional.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-03-13•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs advanced the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act and the Financial Integrity and Regulation Management (FIRM) Act. The GENIUS Act mandates one-to-one reserve backing for stablecoins and adherence to anti-money laundering laws, while the FIRM Act seeks to remove reputational risk from bank safety assessments. Both bills proceed to the full Senate, with further debanking legislation expected.
Policy & regulationRules & requirementsStablecoins
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2025-03-13•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) has launched a Caribbean Chapter to address investment barriers and support capital mobilisation, collaborating with partners like multilateral development banks to enhance project pipelines and provide capacity building for financial institutions. Supported by the GFANZ global secretariat and led by a Caribbean Chapter Director, it will focus on risk management, transition planning, and disclosures, with Racquel Moses chairing the consultative group in its first year.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-13•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) has launched a Caribbean Chapter to address investment barriers and mobilize private capital for the region's transition and resilience needs. The Chapter will collaborate with multilateral development banks and local institutions to enhance project pipelines, support capacity building, and increase international private finance flows, guided by a consultative group chaired by Racquel Moses.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam inaugurated Regional Branch 9 in Da Nang and held a conference to enhance bank credit for economic growth in five central provinces. The central bank reaffirmed its 2025 credit growth target of 16%, equating to VND 2.5 quadrillion in additional lending. Discussions focused on directing credit to priority sectors, tightening controls on high-risk lending, and promoting digital transformation and cashless payments.
Institutional developmentMandate & organizational structureOther
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2025-03-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the Monetary Authority of Singapore have upgraded their memorandum of understanding to enhance cooperation in financial innovation, focusing on payment connectivity and FinTech development. The agreement aims to strengthen information sharing and explore cross-border retail payment connectivity using QR codes, aligning with broader ASEAN financial cooperation goals. Governor Nguyễn Thị Hồng also encouraged Vietcombank to expand its activities in Singapore, particularly in international payments and trade finance.
Policy & regulationCooperationOther
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2025-03-13•Vietnam•State Bank of Vietnam
The State Bank of Vietnam hosted a delegation from the Central Bank of Timor-Leste and Timor-Leste Parliament members to discuss SME support, digital banking transformation, and macroeconomic conditions. Deputy Governor Nguyen Ngoc Canh highlighted Vietnam's 2024 GDP growth of 7.09% and inflation of 3.63%, alongside policies to enhance SME credit access. Both parties expressed intentions to strengthen cooperation, with Vietnam supporting Timor-Leste's ASEAN banking integration efforts.
Policy & regulationCooperationCross-border cooperation
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2025-03-13•Vietnam•State Bank of Vietnam
Governor Nguyen Thi Hong of the State Bank of Vietnam attended a Vietnam–Singapore business roundtable in Singapore, focusing on Vietnam's role in science and technology and financial cooperation. Over 100 companies participated, with Singaporean insights on technology, innovation, and investment as financial centre drivers. They highlighted talent attraction and regulatory efforts in Singapore's growth as a global financial hub.
Other
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2025-03-13•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has launched an online legislative portal consolidating laws and regulatory instruments for non-banking financial activities. This searchable database covers areas such as insurance, capital markets, and anti-money laundering, aiming to enhance rule access, compliance, and investor confidence.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervision process and methodologies
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2025-03-13•Chile•Central Bank of Chile
The Central Bank of Chile has launched a year-long agenda to commemorate its 100th anniversary, featuring academic events, public activities, and financial education initiatives. Key events include a Master's thesis competition, the Sixth Statistics Conference, and the twenty-eighth Annual Conference. Public activities will include a short story contest, an art exhibition, and Financial Education Olympics for students.
Financial literacy & educationOther
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2025-03-13•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's report on Å Energi Pensjonskasse raises concerns about governance, risk management, and high-risk allocations. It questions the prudence of the fund's exposure to "type 2 shares" and alternative investments, expecting improvements in governance, risk assessment, and oversight of outsourced operations. The authority also requested documentation for follow-up actions.
SupervisionReviews, inspections & stress testsRisk managementCorporate governance
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2025-03-13•Mauritius•Bank of Mauritius
The Bank of Mauritius and the Reserve Bank of India signed a Memorandum of Understanding to establish a Local Currency Settlement System using the Mauritian rupee (MUR) and Indian rupee (INR) for cross-border trade. This aims to reduce reliance on hard currencies, promote INR and MUR transactions, and develop foreign exchange markets. The agreement includes plans for an INR Clearing Centre in Mauritius and integration with the Common Market for Eastern and Southern Africa’s Regional Payment and Settlement System.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-03-13•Canada•Canadian Securities Administrators
The Canadian Securities Administrators, Canadian Anti-Fraud Centre, and Royal Canadian Mounted Police issued a joint alert about sophisticated online investment scams, urging vigilance and reporting of suspected fraud. In 2024, over CAD 310 million in investment fraud losses were reported, with many going unreported. The alert highlights the targeting of younger Canadians and new investors, the role of social media in promoting scams, and tactics like spear phishing and romance scams.
SupervisionAlertsFraud and scams
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2025-03-13•Russia•Central Bank of Russia
The Central Bank of Russia proposed updated conditions for recognising individuals as qualified investors, allowing eligibility through standalone or combined criteria. Standalone criteria include specific finance-related degrees, an income test of at least RUB 20 million annually, and an asset threshold rising to RUB 24 million from 2026. The combined route allows qualification with economics-related degrees and reduced thresholds of RUB 6 million for income or assets.
Policy & regulationRules & requirementsOther
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2025-03-13•Russia•Central Bank of Russia
The Central Bank of Russia reported the average maximum interest rate on household deposits in RUB for the first 10 days of March 2025 was 20.74% across the top 10 credit institutions by retail deposits. Rates varied by maturity, with 19.22% for up to 90 days, 19.85% for 91–180 days, 20.18% for 181 days to one year, and 18.20% for over one year. The calculation excludes special-category deposits and products with conditions or variable rates.
Data & statisticsFinancial and market indicators
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2025-03-13•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Division of Market Oversight has withdrawn CFTC Letter No. 21-19, which was a staff advisory on swap execution facility registration requirements. The withdrawal was due to the advisory creating uncertainty regarding the registration obligations for certain entities.
Policy & regulationGuidance & interpretationLicence withdrawal
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2025-03-13•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) warned that some mortgage brokers in British Columbia are charging prohibited fees and using pressure tactics, including legal threats. Brokers cannot charge commitment, application, or cancellation fees before a mortgage is funded but can recover actual third-party expenses with client agreement. Consumers should report illegal fees or pressure tactics to the BCFSA.
SupervisionAlertsConsumer and investor protection
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2025-03-13•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) issued five consent orders against individuals for misconduct related to unregistered mortgage broker Jay Kanth Chaudhary. The orders include penalties, licence cancellations, and enforcement-expense orders for Afsaneh Zarshenas, Molenia Golshani, Homayoun (Sam) Harji Karimloo, Sayna Sadat Mirzadeh, and Shane Ballard. BCFSA also unredacted third-party information in its actions and published a consumer fact sheet on working with registered mortgage brokers.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-03-13•Global•Glasgow Financial Alliance for Net Zero
The Glasgow Financial Alliance for Net Zero (GFANZ) has launched a Caribbean Chapter to enhance investment and capital mobilization in the region, collaborating with partners like multilateral development banks to identify projects and provide technical assistance. The Chapter will focus on capacity building for Caribbean financial institutions, supported by GFANZ's global secretariat and a consultative group chaired by Racquel Moses.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-13•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission outlined its 2025 priorities, focusing on risk prevention, financial support for high-quality development, and enhanced supervisory effectiveness. Key initiatives include restructuring local financial institutions, improving real estate financing, and exploring ultra-long-term financing models. The Commission also aims to strengthen regulatory frameworks, enhance consumer protection, and improve risk monitoring.
Policy & regulationReform agendas & prioritiesOther
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2025-03-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its quarterly reports for the period ending 31 December 2024, showing ADIs' net profit after tax remained stable at AUD 39.6 billion, with total assets up 5.8% to AUD 6,621.5 billion and a total capital ratio of 20.1%. Residential mortgage lending saw a 5.1% increase in total credit outstanding to AUD 2,322.2 billion, while commercial property exposure limits rose to AUD 474.6 billion.
Data & statisticsAsset qualityCapital adequacy
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2025-03-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has updated the licence conditions for BUSS Queensland Pty Ltd, requiring the appointment of an independent third party to review its processes, following a Federal Court decision dismissing BUSSQ's judicial review application. BUSSQ has discontinued its appeal and will commence the required work under the varied conditions.
SupervisionAuthorisations & approvalsSupervision process and methodologies
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2025-03-13•Moldova•National Bank of Moldova
The National Bank of Moldova reported on Governor Anca Dragu’s meeting with Alberto Carlei of the European Investment Bank, discussing Moldova’s macroeconomic outlook amid its planned accession to the Single Euro Payments Area (SEPA) and an economic growth plan backed by EUR 1.9 billion. Dragu emphasized the central bank’s goals to enhance enterprise financing and align with EU standards through SEPA membership, streamlining cross-border euro payments. The European Investment Bank supports Moldova through projects aligned with EU objectives.
Policy & regulationReform agendas & prioritiesCross-border paymentsFinancial inclusion
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2025-03-13•Kazakhstan•National Bank of Kazakhstan
The National Bank of Kazakhstan will launch a digital investment coin under its Gold Coin project on 17 March 2025, available via the Tabys mobile app of the Astana International Financial Center. Each digital unit represents 1/20 of a troy ounce of gold, with pricing based on the London Association of Precious Metals Market Participants and the official KZT to USD exchange rate. Users can convert digital holdings into a physical ÚKI investment coin, made of Au 999.9 gold, with a face value of 100 tenge and weighing 31.1 grams.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-03-13•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan approved foreign exchange business authorizations for several institutions in February 2025. Australia and New Zealand Banking Group Taipei Branch, CTBC Bank, and Societe Generale Taipei Branch received approvals for issuing and underwriting foreign currency instruments. The total number of authorized banks reached 3,460, including domestic, Mainland, and foreign banks.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-13•Taiwan•Taiwan Financial Services Commission
Taiwan’s Financial Services Commission proposed amending Article 3 to extend the deadline for monthly consolidated operating revenue disclosures by insurance enterprises and public companies with insurance subsidiaries from FY 2026. Linked to IFRS 17 adoption, reporting is allowed by the 15th instead of the 10th due to increased revenue calculation complexity. "Insurance enterprise" includes life, property, and reinsurance companies, excluding brokers and agents.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-03-13•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission released January 2025 statistics for credit card, cash card, and electronic payment sectors. Credit card retail spending decreased, while delinquency ratios slightly improved. Electronic payment usage and stored-value balances saw an increase.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-03-13•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission reported that domestic banks' outstanding loans to SMEs reached NT$10,362 billion at the end of January 2025, up NT$23.9 billion from the previous month. SME loans constituted 64.09% of total enterprise loans and 67.86% of private enterprise loans, both slightly decreased from December 2024. The average non-performing loan ratio for SME loans rose to 0.26%, up 0.03 percentage points, with the FSC urging banks to expand SME lending while maintaining risk controls.
Data & statisticsLending
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2025-03-13•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission proposes a draft amendment allowing insurance enterprises and public companies with insurance subsidiaries to extend the deadline for announcing and filing monthly consolidated operating revenue from the 10th to the 15th day, starting FY 2026. This change accommodates complex revenue calculations under IFRS 17 Insurance Contracts and applies to life, property, and reinsurance enterprises, excluding brokers and agents.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-03-13•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India approved a certificate for M/s Valueattics Reinsurance Ltd to conduct reinsurance business and identified Domestic Systemically Important Insurers for FY 2024-25, including Life Insurance Corporation of India, The New India Assurance Company Ltd., and General Insurance Corporation of India. The Authority reviewed compliance and progress on initiatives like the Bima Sugam Insurance Electronic Marketplace and the State Insurance Plan, which includes a proposed Master Scheme with a multi-tier governance model.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-13•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India approved Valueattics Reinsurance Ltd as the first reinsurer registered exclusively for reinsurance under the new framework. It identified Life Insurance Corporation of India, The New India Assurance Company Ltd, and General Insurance Corporation of India as Domestic Systemically Important Insurers for FY 2024-25. The Authority also reviewed updates on Bima Sugam, Indian Risk-Based Capital, Ind AS, and the Risk Based Supervisory Framework, and discussed the State Insurance Plan's Master Scheme.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-13•United Arab Emirates•Dubai International Financial Centre
Dubai International Financial Centre announced Ripple's approval from the Dubai Financial Services Authority to provide regulated crypto payments, marking it as the first blockchain-enabled payments provider licensed in DIFC. This is Ripple's first Middle East license, facilitating its compliance-focused global payments product for UAE businesses. Ripple has been headquartered in DIFC since 2020, amid rising demand for efficient cross-border payments and increased stablecoin usage, with Ripple's RLUSD stablecoin surpassing USD 130 million in market capitalization.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-12•Europe•Committee on Economic and Monetary Affairs
The European Parliament Committee on Economic and Monetary Affairs will debate the European Commission's Communication on the Competitive Compass for the EU and the forthcoming Communication on a Savings and Investments Union. The discussion, featuring Executive Vice-President Stéphane Séjourné and Commissioner Maria Luís Albuquerque, will relate to ECON's report on investment financing, competitiveness, and the Capital Markets Union linked to the Draghi Report.
Policy & regulationOtherMarket development
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2025-03-12•Europe•Committee on Economic and Monetary Affairs
The European Parliament's Committee on Economic and Monetary Affairs will conduct a hearing on 19 March 2025 to evaluate the adequacy of the EU’s macroprudential framework for non-bank financial institutions. The session will gather expert input and discuss recommendations, considering international developments, to enhance the Union’s framework.
Policy & regulationReform agendas & prioritiesMacroprudential policy and tools
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2025-03-12•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic hosted an IMF staff visit to discuss macroeconomic performance and monetary policy ahead of the next Article IV mission. The central bank reported 2024 GDP growth of 5.0% and inflation of 3.35%, with 2025 growth expected at 4.5% to 5.0%. Financial metrics included a 17.4% solvency ratio, USD 14.9 billion in international reserves, and a 1.9% depreciation of the Dominican peso in early 2025.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-03-12•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority approved Derayah Financial Company's public offer of the Derayah Nomu Market Fund. The CMA emphasized that its approval confirms compliance with legal requirements but is not a subscription recommendation. Investors are advised to review the fund's terms, strategy, and risks thoroughly.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-03-12•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its quarterly House Price Index report for Q3 2024, detailing real estate market indicators and developments. The report includes related time series data available on its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-03-12•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority issued an update and Q&A regarding ELEMENT Insurance AG, which entered final insolvency proceedings on 1 March 2025. Insurance coverage for all policyholders will expire on 1 April 2025, and certain claims may be covered by Denmark's Guarantee Fund if notified by 1 September 2025. The update provides guidance for Danish policyholders on handling claims and verifying their insurer.
SupervisionAlertsRecovery and resolution
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2025-03-12•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority conducted two "Kapital" workshops for 30 pupils from Radojica Perović primary school as part of its 2023–2027 Financial Education Development Programme. The sessions used interactive learning tools, including a board game, to teach capital market basics and their global economic impact. Participants received educational materials tailored for elementary students.
Financial literacy & educationFinancial literacy and education
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2025-03-12•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority has suspended Chan Lok Wang's insurance intermediary licence for four months due to falsifying a client's signature on a policy surrender form, which led to the cancellation of two long-term insurance policies. The authority considered Chan's admission of wrongdoing, the insurer's internal disciplinary action, and his full cooperation in determining the sanction.
EnforcementInvestigations & enforcement actions
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2025-03-12•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) and the Bank of Italy have signed a memorandum to cooperate on implementing the EU Markets in Crypto-Assets Regulation (MiCAR). Legislative Decree No. 129/2024 assigns both authorities regulatory and supervisory powers over crypto-asset entities, with a supervision-by-objectives approach. The protocol outlines coordination on inspections, information-sharing, and procedures for authorisations and supervisory measures.
SupervisionCooperation
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2025-03-12•Australia•Australian Securities & Investments Commission
ASIC Chair Joe Longo emphasized that directors' obligations remain unchanged despite regulatory and technological complexities. He cited superannuation service failures as oversight issues. ASIC has formed a Simplification Consultative Group, co-chaired by Nicola Wakefield Evans, to streamline guidance and prioritize law reforms. The speech also covered governance and enforcement, mentioning ASIC's lawsuit against AustralianSuper for alleged death benefit claims handling failures affecting nearly 7,000 claimants. Recent penalties include AUD 20 million for Aware Super, Westpac, BT, and Colonial First State, and AUD 27 million for AustralianSuper. A discussion paper and a new report on superannuation member services are forthcoming.
Policy & regulationImplementation, projects & pilotsCorporate governance
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2025-03-12•Australia•Australian Securities & Investments Commission
ASIC has initiated Federal Court proceedings against AustralianSuper Pty Ltd for alleged delays in handling death benefit claims, with assessments taking four months to four years for at least 6,897 claims. ASIC cites 752 instances of delayed payments, with delays up to 1,140 days, breaching the Corporations Act and Superannuation Industry regulations. ASIC seeks penalties, declarations, an adverse publicity order, and compliance-related orders, emphasizing superannuation member services failures as a priority.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-03-12•United Kingdom•Payment Systems Regulator
The UK's Payment Systems Regulator (PSR) responded to a government announcement on simplifying payments regulation, stating it will collaborate with the government, Financial Conduct Authority (FCA), and Bank of England on regulatory transitions. The PSR emphasized its role in supporting open banking, innovation, and fraud protection, noting ongoing efforts to align with the FCA and maintain competitive, innovative, and safe payment systems during the legislative transition.
Policy & regulationCooperationPayments and payment systems
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2025-03-12•Botswana•Bank of Botswana
The Bank of Botswana revoked the licence of Pennies and Cents Bureau de Change following its cessation of operations and voluntary licence surrender. The Bank warned the public against transacting with entities claiming to operate under this name and reminded that trading foreign currency without a valid licence is a criminal offence under the Bank of Botswana Act.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-03-12•Botswana•Bank of Botswana
The Bank of Botswana revoked the licence of Travellers Choice Bureau de Change for non-compliance with Bureaux de Change Regulations. The public is advised against transacting with entities claiming to operate under this name, as unlicensed foreign currency trading is a criminal offence under Section 30(4) of the Bank of Botswana Act.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-03-12•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market, with the Ministry of Digital Transformation, has completed the Diia.City Invest project concept to support a venture investment fund. The next phase involves developing legislation to operationalize the fund, aiming to enhance the venture ecosystem and boost investment in Ukrainian tech firms. The Commission is also working on broadening investment opportunities with new instruments, including a draft law on personal investment accounts.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-03-12•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets fined BUX B.V. EUR 1.6 million for violating the commission ban by remunerating finfluencers to attract clients. The AFM noted such payments conflict with clients' interests and had warned firms about this prohibition. BUX ceased the infringement on 21 April 2023, but the AFM did not disclose if an objection or appeal has been filed.
EnforcementInvestigations & enforcement actionsSales and distribution
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2025-03-12•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority said the second meeting of its financial market one-stop shop examined AYRADE's interest in raising capital through a public offering and stock market listing. AYRADE plans to fund a modern data center project, and the meeting covered the conditions, procedures and benefits of a listing. The update also places the meeting in a broader pipeline of capital market activity, following an earlier session with Pharma Invest.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-03-12•China•Central Bank of the Republic of China
The People's Bank of China outlined its 2025 priorities at the credit reporting work conference, focusing on upgrading the credit reporting system and tightening supervision. Initiatives include improving the central bank's credit reporting services, enhancing the financial credit information database, and supporting technology innovation, inclusive finance, and green development. The agenda also aims to strengthen the rating industry and build a more effective supervisory framework.
Policy & regulationReform agendas & prioritiesCredit ratings
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2025-03-12•Italy•Bank of Italy
The Bank of Italy received the Central Banking Award 2025 for risk management, acknowledging its innovative methodologies for financial risk assessment and integration of sustainability factors in creditworthiness evaluations. Governor Fabio Panetta highlighted the award as a testament to the Bank's prudent risk management and its support of the financial system during crises.
OtherRisk management
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2025-03-12•Italy•Bank of Italy
The Bank of Italy received international EDGE certifications in 2024, including EDGE Move for gender equity and EDGEplus for diversity and inclusion policies. These certifications are tied to the implementation of its 2023–2025 Strategic Plan, aimed at fostering an open workplace that acknowledges individual needs. The Bank emphasized ongoing efforts in inclusion and diversity beyond the certification.
Institutional developmentCooperation & capacity buildingDiversity and inclusion
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2025-03-12•Italy•Bank of Italy
The Bank of Italy received the Central Banking Award 2025 for risk management, acknowledging its innovative financial risk assessment methodologies and enhanced analysis of firm creditworthiness with sustainability criteria. Governor Fabio Panetta attributed the award to the Bank's prudent risk management and support of the financial system during crises. The Central Banking Awards aim to recognise excellence amid inflationary pressures and technological change.
OtherRisk management
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2025-03-12•Italy•Bank of Italy
The Bank of Italy received the Central Banking Award 2025 for advancements in financial risk assessment methodologies and integrating sustainability criteria in creditworthiness analysis. Governor Fabio Panetta highlighted the award as a testament to the bank's prudent risk management and its supportive role during financial crises.
OtherRisk management
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2025-03-12•Indonesia•Bank Indonesia
Bank of Indonesia's Retail Sales Survey projects a 0.8% month-on-month increase in the Real Sales Index (RSI) to 213.2 for February 2025, despite a 0.5% year-on-year decline. The February rise is driven by stronger sales in information and communication equipment, clothing, and automotive fuel, while the annual drop is due to weaker food, beverages, and tobacco sales. Price expectations indicate easing in April 2025, with a rise in July 2025 due to anticipated demand during the school holiday season.
Data & statisticsEconomic data and developments