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2025-03-06•Iceland•Central Bank of Iceland
The Central Bank of Iceland reported a Q4 2024 current account deficit of ISK 95.2bn and a positive net international investment position (IIP) of ISK 1,963bn, or 42.5% of GDP, noting a significant deterioration from the previous quarter. The bank highlighted uncertainty in financial account and IIP data due to the sale of an Icelandic industrial company to non-residents, which may lead to future revisions.
Data & statisticsBalance of payments and other external statistics
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2025-03-06•Poland•Polish Financial Supervision Commission (KNF)
KNF Chair Jacek Jastrzębski met with European Commissioner Maria Luís Albuquerque to discuss the Savings and Investments Union and capital markets priorities. Topics included market integration, competitiveness, supervisory convergence, and cross-border activity oversight. They also addressed fostering investment culture, long-term savings, and simplifying sustainability reporting under the Omnibus initiative.
Policy & regulationCooperationMarket developmentSupervision process and methodologies
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2025-03-06•Global•International Monetary Fund
The International Monetary Fund has identified growing liquidity and contagion risks in the USD 63.1 trillion global pension savings sector. It recommends stronger reporting, coordination and liquidity oversight, alongside risk-based capital regimes for large defined benefit sectors and expanded systemic stress testing.
ResearchFinancial stability and systemic riskMacroprudential policy and toolsLiquidity risk
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2025-03-06•Russia•Central Bank of Russia
The Central Bank of Russia plans to expand regulation in the cash-in-transit market to include non-bank service providers, supported by a register and enforcement against unregistered operators. This follows broad support for additional regulation to address unfair competition, labour shortages, and service availability issues. The initiative aims to enhance market accessibility, particularly in remote areas.
Policy & regulationReform agendas & prioritiesMarket development
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2025-03-06•Russia•Central Bank of Russia
The Central Bank of Russia's latest Monitoring of Sectoral Financial Flows review indicates sustained high economic growth in early 2025, with February payments surpassing the fourth quarter 2024 average by 9.5%. Financial flows rose across most industry groups, notably in investment demand-oriented sectors, which saw growth exceeding 25%.
Data & statisticsEconomic data and developments
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2025-03-06•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets (CNPF) adopted decisions on capital market regulation, including registering corporate actions, reissuing an investment company licence, and aligning remuneration governance with European Commission guidance. The CNPF registered share restructuring for JSC “Direcția de Construcții și Reparații rutiere Orhei” and an additional share issue for JSC “CRIO-IZVORUL.” Enforcement directions were reiterated for two firms, and FLEX FINANCIAL's requests to suspend CNPF decisions were rejected.
Policy & regulationRules & requirementsLicence approval
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2025-03-06•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority completed a document-based thematic review of DNB Asset Management AS, finding compliance with sustainability-related disclosure requirements under EU Regulation 2019/2088. The review covered mutual funds DNB Miljøinvest and DNB Grønt Skifte Norden, assessing sustainability risk integration, adverse impact consideration, and disclosure practices. The case closed with no comments on the firm's documentation.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-03-06•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission emphasized maintaining public company disclosure on artificial intelligence risks within materiality and principles-based requirements, opposing prescriptive frameworks. The SEC also discussed retail investor fraud coordination through the Interagency Securities Council and addressed concerns about Section 11's tracing requirement and the implications of a mandatory lockup period.
Policy & regulationGuidance & interpretationArtificial intelligenceDisclosures
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2025-03-06•United States•U.S. Securities & Exchange Commission
The U.S. SEC's Acting Chairman Mark T. Uyeda addressed the Investor Advisory Committee on recruitment for vacancies and key topics like retail investor fraud, AI in securities markets, and share traceability in Section 11 prospectus liability claims. Uyeda highlighted sophisticated scams, ongoing investor education, and a March 27 roundtable on AI issues. The Committee is also considering recommendations on share traceability under the Securities Act of 1933.
Policy & regulationImplementation, projects & pilotsArtificial intelligenceMarket development
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2025-03-06•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission has issued guidance for EDGAR filers as it launches "EDGAR Next" enhancements, including a new Filer Management dashboard available from 24 March. Filers can enroll in EDGAR Next by submitting an amended Form ID to obtain access credentials. The SEC provides supporting materials such as instructional videos, webinars, guides, and FAQs to assist with the transition.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-03-06•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing detailed the State Council's 'new Nine Measures' for capital market development, highlighting stricter supervision and enforcement against financial misconduct. Key developments include improved investor compensation, market-stabilization measures, and growth in equity ETFs and public funds' A-share holdings. Future priorities involve reforming the STAR Market, ChiNext, and Beijing Stock Exchange, supporting innovation, and expanding institutional opening through regulatory enhancements and cross-border connectivity.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-03-06•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released a discussion paper proposing eight measures to enhance prudential governance for banks, insurers, and superannuation trustees, including stricter board capability, independence, and accountability standards. The proposals, open for a three-month consultation, aim for implementation by 2028 following formal consultation in 2026.
Policy & regulationRules & requirementsCorporate governance
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2025-03-06•Moldova•National Bank of Moldova
At a fintech conference, National Bank of Moldova officials highlighted how financial innovation can enhance maturity and risk transformation, improving capital access for small and medium-sized enterprises. The Bank's Fintech Directorate emphasized MIA's benefits for entrepreneurs, focusing on efficient service delivery. Mihnea Constantinescu underscored the need for appropriate regulation, citing alternative credit assessments to unlock funding for those lacking traditional credit histories.
Policy & regulationGuidance & interpretationFintech and insurtech
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2025-03-06•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu met with European Parliament member Andrea Wechsler in Brussels to discuss Moldova's progress toward joining the Single Euro Payments Area and EU financial integration. They discussed the future EU Multiannual Financial Framework and financial support through the Growth Plan. Wechsler emphasized the National Bank's role in strengthening Moldova's financial sector, with continued European Parliament support amid the energy crisis.
Policy & regulationCooperationCross-border cooperation
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2025-03-06•Moldova•National Bank of Moldova
The National Bank of Moldova announced joining the Single Euro Payments Area (SEPA), facilitating euro payments with SEPA countries under domestic conditions and reducing cross-border costs. Participation in SEPA does not entail adopting the euro, with Moldovan accounts remaining in Moldovan lei. The bank anticipates significant fee reductions and economy-wide savings, attributing readiness to legislative alignment with EU directives.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-03-06•Moldova•National Bank of Moldova
The National Bank of Moldova announced the country's acceptance into the Single Euro Payments Area (SEPA), facilitating faster and cheaper euro transfers. This move is expected to significantly reduce international euro transfer costs and enhance trade with the EU, saving up to EUR 20 million annually. Preparations included aligning legislation with EU standards and strengthening financial supervision, with commercial banks set to implement necessary technical adjustments.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-03-06•South Korea•Bank of Korea
The Bank of Korea released its official foreign reserves update for February 2025, with detailed figures available in an accompanying attachment.
Data & statisticsBalance of payments and other external statistics
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2025-03-06•United States•The White House
The White House ordered the Treasury to create a Strategic Bitcoin Reserve and a US Digital Asset Stockpile to centralize government digital assets. The order restricts Bitcoin sales and mandates federal agencies to report their digital asset holdings. Treasury and Commerce must develop strategies to acquire more Bitcoin, prohibiting further non-Bitcoin acquisitions without additional executive or legislative action.
Policy & regulationRules & requirementsCBDC
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2025-03-06•United States•The White House
The White House released a fact sheet on an Executive Order by President Trump establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile to centralize federal digital asset management. The Reserve will be funded with bitcoin forfeited through legal proceedings, while the Stockpile will hold non-bitcoin assets without acquiring more. Federal agencies must report their digital asset holdings to the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets.
Policy & regulationRules & requirementsCBDC
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2025-03-06•United States•The White House
The White House's Council of Economic Advisers memo outlines President Trump's deregulatory program, claiming over USD 180 billion in cost avoidance by halting proposed Biden-era regulations. It criticizes the Biden Administration for adding over USD 1.8 trillion in regulatory costs, notably from Environmental Protection Agency rules, and highlights a "1-in-10-out regulatory budget" approach. The memo notes potential savings of over USD 1.134 trillion from rolling back automobile-related rules and cites high-cost regulations across various agencies.
Policy & regulationReform agendas & priorities
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2025-03-06•United States•U.S. Department of the Treasury
Treasury Secretary Scott Bessent outlined three priorities for the Treasury under President Trump: deregulating financial services focusing on material risks, using tariffs to reshape international economic relations, and updating financial sanctions for immediate impact. He emphasized cross-agency coordination through the Financial Stability Oversight Council and the President’s Working Group on Financial Markets, citing the need for rigorous analysis of the enhanced supplementary leverage ratio. On sanctions, Bessent highlighted a "maximum pressure" campaign targeting Iran's oil exports and infrastructure.
Policy & regulationReform agendas & prioritiesRegulatory burden
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2025-03-06•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago has registered Massy Remittance Services (Trinidad) Ltd. (MRSTL) as an e-money issuer using its WIDIT digital wallet app, following a six-month provisional period. MRSTL, a subsidiary of Massy Financial Services Limited, is also licensed as a Bureau de Change and acts as an agent for MoneyGram International in several Caribbean countries. The Central Bank will monitor MRSTL’s compliance with legislation and guidelines, including the E-Money Issuer Order (2020).
SupervisionAuthorisations & approvalsLicence approval
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2025-03-05•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved a prospectus for Finance Plus Management Holding AD's BGN 10,000,000 bond issue and made several supervisory decisions, including governance approvals and changes to REIT outsourcing arrangements. The Commission also removed a Development Assets AD bond issue from the register, deleted Leno Ins EOOD from the insurance brokers register, and closed an investment intermediary authorisation for MK Brokers AD.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-03-05•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico's Ministry of Finance and the EU released a report comparing Mexico’s Sustainable Taxonomy and the EU’s Green Taxonomy to guide international investors on sustainable activities. The report identifies shared principles and climate objectives, noting Mexico's inclusion of social criteria like gender equality. This initiative supports the EU’s Global Gateway strategy, aiming to mobilize over EUR 300 billion.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-03-05•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo is hosting a delegation from the Central Bank of Malta for a governance audit as part of a bilateral cooperation initiative. This four-day mission, led by Aidan Massa, involves meetings with senior stakeholders to review processes and exchange governance expertise. It marks the first governance audit with a Eurosystem peer, supporting International Monetary Fund recommendations.
Institutional developmentCooperation & capacity buildingAuditing
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2025-03-05•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority announced the adoption of the Law on Alternative Investment Funds, establishing a regulatory framework for AIFs in line with Directive 2011/61/EU. This law addresses gaps in the previous Investment Funds Law by setting conditions for AIF establishment and management, defining AIF manager responsibilities, and enhancing supervisory mechanisms to bolster investor protection.
Policy & regulationRules & requirementsOther
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2025-03-05•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand announced Governor Adrian Orr's departure, with Deputy Governor Christian Hawkesby serving as Acting Governor until 31 March and chairing the Monetary Policy Committee. From 1 April, a temporary Governor will be appointed for up to six months, with Orr noted for his role in implementing significant reforms, including the Reserve Bank Act and the Depositor Compensation Scheme.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has charged Brendan Gunn with dealing in proceeds of crime over AUD 100,000, under section 400.9(1) of the Criminal Code. ASIC alleges Gunn, a director of Mormarkets Pty Ltd, managed bank cheques from investments totaling AUD 181,000 for cryptocurrency conversion, despite scam warnings and account closures. The case, prosecuted by the Commonwealth Director of Public Prosecutions, follows an ASIC investigation. The maximum penalty is three years’ imprisonment or a fine of AUD 37,800, or both.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-03-05•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced that trading in Smartphoto Group financial instruments on Euronext Brussels will resume on 5 March 2025 at 09:00 CET.
SupervisionAuthorisations & approvalsTrading
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2025-03-05•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Nyrstar financial instruments on Euronext Brussels at the company's request. The suspension, effective from 05 March 2025 at 09:00 CET, will continue until a press release is issued.
SupervisionInterventionsTrading
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2025-03-05•Tanzania•Tanzania Insurance Regulatory Authority
Tanzania Insurance Regulatory Authority (TIRA) held an education session for the Mara Regional Commissioner’s Office and Roads Board, emphasizing increased insurance uptake and protection of government property. Insurance Commissioner Dr. Baghayo Saqware highlighted TIRA's role in advising on government asset insurance and its statutory duties, including licensing, sector monitoring, and public education. Regional leaders advocated for insuring public assets and promoting agricultural insurance to mitigate risks.
Financial literacy & educationOther
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2025-03-05•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority conducted insurance training for public sector employees in Simiyu Region to promote insurance as a protective tool for government assets and encourage participation in the sector. The initiative aims to expand insurance availability and distribution, with notable market growth in Simiyu, where gross insurance premiums rose from TZS 5 million in 2022 to TZS 97 million in 2023.
Financial literacy & educationOther
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2025-03-05•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador reported that Transfer365, a 24/7 fee-free interbank payment service, has saved users USD 153.76 million in commissions since 2021, handling 88.78% of domestic transactions. By January 2025, it reached 68 million transactions valued at USD 62.8 billion, with significant usage outside standard hours. The Bank also noted growth in related services like Transfer365 Móvil and Transfer365 Business, and highlighted the cross-border service Transfer365 CA-RD, facilitating USD 388.11 million in transfers, predominantly by women.
Data & statisticsCross-border payments
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2025-03-05•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica's SINPE-TP, the National Electronic Payment System in Public Transport, won the 2025 "Best Smart Ticketing Program" award at the Transport Ticketing Global event in London. SINPE-TP, operational since 2021, has facilitated over 25 million transactions and CRC 11,000 million in fare payments, with plans to expand to 3,000 buses by the end of 2025.
OtherPayments and payment systems
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2025-03-05•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia reported on the BARTA 2024 ceremony, recognizing Georgian companies for excellence in reporting and transparency, supported by the World Bank’s Financial and Sustainable Development Reporting Improvement Program. Awardees included JSC TBC Bank, JSC Bank of Georgia, and others. BARTA, established in 2019, serves as a platform for sharing information among financial and non-financial companies.
OtherAccounting and financial reporting
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2025-03-05•China•Central Bank of the Republic of China
The People's Bank of China reviewed its 2024 activities and set key tasks for 2025 at its annual conference on publicity, ideological, and cultural work. The 2025 agenda includes enhancing theory study, launching the "Warm-Heart Initiative" for staff support, and strengthening the ideological work responsibility system. Efforts will also focus on promoting Chinese-style financial culture through improved communication.
Institutional developmentWorkforce & recruitmentOther
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2025-03-05•Italy•Bank of Italy
The Bank of Italy will participate in Intergraf Currency+Identity 2025 in Milan, presenting on generative artificial intelligence in banknote design. The event will highlight technological innovation in security printing, environmental sustainability, and digital technologies, with global industry and government participation.
OtherClimate risk and sustainable finance
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2025-03-05•Italy•Bank of Italy
The Bank of Italy will participate in Intergraf Currency+Identity 2025 in Milan, presenting on the application of generative artificial intelligence in banknote design. The event will cover technological innovations in security printing, environmental sustainability, and digital technologies, with global participation from manufacturers, central banks, and authorities.
OtherArtificial intelligenceMarket development
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2025-03-05•Europe•European Banking Authority
The European Banking Authority (EBA) has initiated a public consultation on fees for validating pro forma models under the European Market Infrastructure Regulation (EMIR). The proposal includes an annual fee per validated model, aligning with the EBA's role as the EU central validator. The consultation outlines budgeting, cost estimates, fee calculation methods, and payment modalities, supporting the EBA's advice to the European Commission on a Delegated Act.
Policy & regulationRules & requirementsMarket infrastructure
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2025-03-05•Ukraine•National Bank of Ukraine
The National Bank of Ukraine has expanded the list of benchmark domestic government debt securities that banks can use to meet up to 60% of their reserve requirements, adding bond ISIN UA4000234553 effective 11 March 2025. This expansion, approved by Board Decision No. 68, aims to support banks' participation in Ministry of Finance auctions and aid in financing the state budget.
Policy & regulationRules & requirementsFinancial benchmarks
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2025-03-05•Portugal•Bank of Portugal
The Bank of Portugal released January 2025 statistics on interest rates and volumes for new bank loans and deposits. The average rate on new household term deposits decreased to 1.98%, while new housing loans remained stable at 3.22%. New lending to households totaled EUR 2,779 million, with consumer credit rates rising to 9.12%, and new lending to companies fell to EUR 2,018 million with an average rate of 4.25%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-03-05•United States•Financial Industry Regulatory Authority
The FINRA Board elected Scott A. Curtis as Board Chair and advanced governance and policy items, including a consultation on a revised Outside Activities rule and potential changes to TRACE reporting timeframes. The Board appointed Richard Kuhlman and Trinity Lee to the National Adjudicatory Council and approved allocating prior-year fine monies to capital initiatives. Additionally, the Board plans to issue a Regulatory Notice for comment on proposed Rule 3290 and publish a report on the use of 2024 fine monies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-05•Guernsey•Ministry of Finance (Guernsey)
Guernsey's Ministry of Finance summarized Chief Minister Deputy Lyndon Trott's meetings with UK officials, focusing on the UK–Crown Dependencies constitutional relationship, financial crime cooperation, and economic ties. Discussions included strengthening relationships with UK departments, enhancing transparency of beneficial ownership, and supporting Overseas Territories. Economic talks highlighted Guernsey's role in the UK's growth agenda and sanctions enforcement.
Policy & regulationCooperationCross-border cooperation
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2025-03-05•Gibraltar•Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission released feedback from its thematic review of Consumer Duty Board reports and plans to contact relevant sectors for follow-up presentations.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-03-05•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and AFP has introduced Reporte SOAT/CAT, a public service allowing citizens to access information on their compulsory traffic accident insurance (SOAT) or traffic accident certificate (CAT) and related claims history. The service aims to promote safer driving and assist citizens in policy management.
Policy & regulationImplementation, projects & pilotsActivity and performance reporting
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2025-03-05•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency issued a reporting instruction to clarify disclosure requirements for insurers and pension companies, focusing on supplementary pension insurance funds during the annuity pay-out phase. This guidance aims to reduce reporting errors and divergent interpretations identified in 2023. It specifies adjustments to liabilities and results disclosures, particularly in profit allocation or crediting, following a 2024 scope revision.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-03-05•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency approved four senior management appointments in insurance: K.S. Baizhanova and L.O. Stogneeva to the executive body, and A.B. Mukhamedzhanov and M.A. Sikhaev to the management body. The Agency stated that senior executives with existing regulatory consent may transfer within the sector without additional approval, subject to qualification requirements.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-05•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has amended rules for collection agencies to enhance debtor-collector interactions. Key changes include record-keeping of debtor applications, documentation of settlement measures, and clarification of enforcement proceedings. The obligation to provide recorded information to the Agency is removed due to planned automation.
Policy & regulationRules & requirements
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2025-03-05•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 approved Elena Vladimirovna Statsenko's appointment to an executive body position in the securities market.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-03-05•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia announced its programme for Global Money Week, focusing on financial literacy and safe money management from 17 to 23 March. Activities include school workshops, museum events, and a digital prize game in Ljubljana. The initiative also features social media engagement, showcasing art competition winners and an online safety quiz.
Financial literacy & educationFinancial literacy and education
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2025-03-05•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about scams involving impersonators soliciting fees for bogus compensation claims. CySEC clarified it does not contact individuals for personal or financial information, collect fees, or engage in compensation schemes. The public is urged to verify communications' authenticity and report suspicious activity to CySEC.
SupervisionAlertsFraud and scams
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2025-03-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website linked to Bank Julius Baer & Co. Ltd. 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. Individuals who have shared personal information or conducted transactions through the fraudulent site are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-05•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 reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information by phone, email, or SMS. It advised affected individuals to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-03-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted the public about fraudulent websites and internet banking login screens linked to DBS Bank (Hong Kong) Limited. The HKMA reminded that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-03-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding a fraudulent website and fake internet banking login screen reported by Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding a fraudulent website and phishing messages linked to The Hongkong and Shanghai Banking Corporation Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding phishing instant messages linked to Industrial and Commercial Bank of China (Asia) Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who responded to such messages are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-03-05•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has lifted supervisory measures on Sunday Insurance (Thailand) Public Company Limited, citing compliance with capital adequacy and asset allocation requirements. The insurer is required to adhere to the non-life insurance legal framework, while the Office will maintain close monitoring of its financial position and governance.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-03-05•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has licensed Limited Liability Company microcredit deposit organisation “GANJ MOLIYA” to conduct specific banking operations. These include deposit-taking, microloans, account management, fund transfers, guarantees, forward and swap contracts, cash and settlement operations, and issuing bank payment cards.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-05•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and Japan's ambassador discussed enhancing banking cooperation, focusing on correspondent banking and Japanese investment in Tajik credit institutions. The central bank expressed interest in restoring ties with Japanese banks and highlighted favorable conditions for foreign banks in Tajikistan. Cooperation through the Japan International Cooperation Agency and the JDS grant project was also addressed, linking to infrastructure and human capital development.
Policy & regulationCooperationCross-border cooperation
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2025-03-05•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan convened an interagency group to enhance economic rights for women and youth, focusing on financial inclusion, consumer rights, and literacy. The Bank's Research Institute updated on the 2024 action plan under the National Financial Inclusion Strategy, highlighting objectives, governance, and progress. A participant from the Women's World Banking Leadership Diversity Program shared insights on improving women entrepreneurs' access to financial instruments.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-03-05•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) held its second Annual Chintan Shivir in Udaipur, focusing on strategies for developing GIFT IFSC's regulatory ecosystem aligned with the Viksit Bharat@2047 vision. Sessions addressed technology-led supervision, AI applications, attracting NRIs and PIOs, emerging regulatory areas, unified financial services regulation, and asset tokenisation. The Chairperson emphasized leadership themes and a nation-first approach inspired by the Prime Minister's "Panch Pran."
Policy & regulationReform agendas & prioritiesSupervision process and methodologiesArtificial intelligence
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2025-03-05•Slovenia•Slovenia Securities Market Agency
The Slovenia Securities Market Agency released updated editions of its licensing aid, questionnaire, and guide for assessing key persons' suitability under the Alternative Investment Fund Managers Act. The revisions include content updates on suitability assessments, alignment with amended legislation, and clarifications based on past authorisation experiences.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-03-05•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on four websites and instructed providers in Italy to block access. The technical blocking process is underway, with the total number of sites blocked since November 2023 reaching 212. IVASS advises consumers to verify the legitimacy of insurance offers, especially for temporary motor third-party liability policies, by consulting its online registers.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-03-05•Serbia•National Bank of Serbia
The National Bank of Serbia reported that the IPS NBS system processed 8,231,908 transactions in February 2025, with an average daily volume of 293,997 payments. The system achieved an average execution time of 1.1 seconds, and total turnover reached RSD 99.4 billion.
Data & statisticsCurrency and cash management
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2025-03-05•Serbia•National Bank of Serbia
The National Bank of Serbia reported February 2025 operational statistics for its payment systems, processing 18.3 million payments with no downtime. The RTGS system handled 93.6% of transactions, totaling RSD 18,074.4bn, while the Clearing System processed 6.4% of transactions, totaling RSD 24.8bn. Both foreign-exchange clearing systems processed EUR 121.2 million in transactions, maintaining 100% availability.
Data & statisticsActivity and performance reporting
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2025-03-05•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has expanded mandatory use of its Agent Registration Tool to cover selected debt securities registrations from March 6, 2025. The requirement applies to debt issues under the Global Issuance Program, bonds of financial entities and subordinated bonds of financial entities. The bank said the shift digitizes processing without changing existing regulatory requirements.
SupervisionRegulatory reportingSecurities offerings and listings
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2025-03-05•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission announced that the Court of Appeal dismissed an appeal by Amirruddin bin Nin, a director of CTB Solutions Sdn Bhd, against his conviction for failing to appear for questioning in a money laundering investigation. The court reinstated additional convictions and a RM2,000 daily fine, emphasizing the strict liability nature of the offence under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The Securities Commission stressed the importance of compliance with investigative notices for effective enforcement.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-03-05•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission reported that the total net asset value of Guernsey funds reached GBP 290.1 billion in Q4 2024, marking a quarterly increase of GBP 1.3 billion (0.5%). Closed-ended funds decreased by GBP 0.5 billion (0.2%) over the quarter, while open-ended funds rose by GBP 1.8 billion (3.7%). Guernsey Green Funds contributed GBP 4.9 billion to the total net asset value.
Data & statisticsFinancial and market indicators
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2025-03-05•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) is consulting on raising the retail deposits threshold to GBP 70 billion for UK banks, building societies, and investment firms subject to the leverage ratio requirement, citing nominal UK GDP growth since 2016. The proposal aims to maintain proportionality and reduce "prudential drag," with fewer than five firms expected to fall out of scope, potentially saving GBP 130,000 annually. The non-UK assets threshold remains unchanged, with implementation proposed for January 2026.
Policy & regulationRules & requirementsCapital adequacy
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2025-03-05•Global•United Nations Environment Programme Finance Initiative
The United Nations Environment Programme Finance Initiative (UNEP FI) has expanded its responsible banking case study series with four new reports and released new guidance through its Responsible Banking Blueprint. The Blueprint serves as a roadmap for implementing the Principles for Responsible Banking, focusing on strategy, internal processes, client engagement, and transparency.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-03-05•Canada•Ombudsman for Banking Services and Investments
The Ombudsman for Banking Services and Investments (OBSI) appointed Maureen L. Buckley, Jason Enouy, and Professor Marina Pavlović to its Board of Directors, enhancing expertise in public service, financial compliance, and consumer rights. OBSI reaffirmed its governance framework, requiring a majority of independent community directors, including the Board Chair, with specific roles for consumer interest and industry directors.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-05•Global•World Federation of Exchanges
The World Federation of Exchanges published research on voluntary carbon markets, highlighting long lags in credit issuance and retirement compared to established markets, with a notable shift in demand away from large end-users. The study reveals an average issuance lag of 2.5 years and a retirement lag of 4.4 years, with significant variation by project type and registry.
ResearchClimate risk and sustainable finance
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2025-03-05•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges holders of Country Group Development Public Company Limited’s CGD213A bonds to review information and exercise their rights at the bondholders’ meeting on 10 March 2025. Proposed changes include extending maturity to 23 September 2026, adjusting interest rates, and releasing collateral for project financing. Bondholders should consider the implications and seek detailed information before voting.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-03-05•United Kingdom•Bank of England
The Bank of England's Prudential Regulation Authority is consulting on raising the retail deposits threshold for the UK leverage ratio requirement from GBP 50 billion to GBP 70 billion. This adjustment reflects nominal GDP growth since 2016 and aims to allow smaller firms more growth capacity before entering the leverage regime, while the GBP 10 billion non-UK assets threshold remains unchanged.
Policy & regulationRules & requirementsCapital adequacy
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2025-03-05•Europe•European Commission
The European Commission and the European Investment Bank have launched the InvestEU Gender Finance Lab to enhance EU commercial banks' access to finance for women-owned and women-led SMEs. The initiative includes a Gender-Smart Finance Master Class, focusing on market potential assessment, gender-responsive product design, and data analysis. The first cohort begins in March 2025, with participation free for institutions.
Policy & regulationImplementation, projects & pilotsDiversity and inclusion
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2025-03-05•Namibia•Bank of Namibia
The Bank of Namibia will issue a NAD 60 commemorative banknote on 17 March 2025, honoring the late President Dr. Hage G. Geingob's 60 years of service. The polymer note features advanced security elements, including intaglio print, Argentum silver ink, and ultraviolet elements, and will circulate as legal tender and a collector's item. A public education campaign will precede its release to familiarize the public with its features.
Monetary policyMonetary policy instruments & operationsOther
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2025-03-05•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on the National Money Printing Factory's 2025 employee delegates conference, highlighting the completion of its 2024 production plan and delivery targets. Standing Deputy Governor Dao Minh Tu emphasized the need for digital technology adoption and skills development amid declining cash usage and rising non-cash payments. The conference also recognized outstanding contributions with awards to individuals and groups.
Institutional developmentTechnology & data transformationOther
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2025-03-05•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission warned about crypto platforms under the CanCap name, including CanCapV2, CanCap-App, and CanCap, which aren't registered to deal in or advise on securities in New Brunswick. The alert clarifies these entities shouldn't be confused with CanCap Group, a Canadian financial services company, and advises investors to verify registration through the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-05•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that CanCapV2 is not registered to deal or advise in securities in New Brunswick. The alert distinguishes CanCapV2 from CanCap Group, a Canadian financial services company, and highlights other unregistered platforms such as CanCap-App and CanCentra.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-05•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a warning that CanCap-App, operating from the Czech Republic, is not registered to deal or advise in securities in New Brunswick. The alert also cautions against confusing CanCap-App with CanCap Group, a Canadian financial services company, and flags other unregistered platforms using similar names.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-05•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission warned that CanCap, operating from the Czech Republic under names like CanCentra and Immediate Flectinium, is not registered to deal or advise in securities in New Brunswick. The Commission clarified that CanCap should not be confused with CanCap Group, a Canadian financial services company, and noted additional caution list entries for websites using names like CanCapV2 and CanCap-App.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-05•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission issued a consumer alert about a social media impersonation scam falsely claiming Premier Susan Holt endorses the unregistered cryptocurrency platform CanCap. The scam involves a fake news article mimicking a Telegraph-Journal webpage, falsely asserting government and Bank of Canada backing. The Commission highlighted the use of generative AI in scams and added CanCap and related platforms to its Caution List.
SupervisionAlertsFraud and scams
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2025-03-05•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions hosted the second International Financial Regulators Chief Risk Officer Roundtable in Toronto, focusing on financial risk management. Over 30 participants discussed supervisory and policy-making effectiveness, internal control, and managing third-party, people, and resource risks.
Policy & regulationCooperationRisk managementSupervision process and methodologies
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2025-03-05•Chile•Central Bank of Chile
The Central Bank of Chile released the Survey of Price Determinants and Expectations, revealing median inflation expectations at 4% over 12 and 24 months. Firms reported sales recovery and neutral profit margins, with selling prices pressured by costs, input availability, and the US dollar exchange rate. The proportion of firms anticipating higher input costs and selling prices in the next year remains unchanged.
Data & statisticsEconomic data and developments
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2025-03-05•Chile•Central Bank of Chile
The Central Bank of Chile will publish the Online Retail Sales Index for Retail Trade (IVOCM) monthly from 5 March 2025, to track e-commerce's share within total formal retail sales. This new indicator aims to quantify trends in digitalisation's economic effects, previously only implicitly captured in National Accounts. The IVOCM will be part of the Bank’s “Experimental Statistics” programme and may undergo significant revisions.
Data & statisticsMarket development
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2025-03-05•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's inspection report on Trøndelag Sparebank highlights increased risks from rising corporate loan defaults, rapid lending growth, and governance weaknesses. Non-performing corporate loans reached 9.9% of the portfolio by end-H2 2024, with insufficient loss allowances and significant internal control shortcomings. The bank must submit an action plan and documentation, with further guidance on retail exposures pending European Banking Authority recommendations.
SupervisionReviews, inspections & stress testsCredit riskAsset quality
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2025-03-05•Canada•Ombudsman for Banking Services and Investments
The Ombudsman for Banking Services and Investments (OBSI) in Canada appointed Maureen L. Buckley, Jason Enouy, and Professor Marina Pavlovic to its Board of Directors. They bring expertise from public service, industry compliance, and consumer rights. OBSI's bylaws require a majority of independent community directors, including three consumer interest directors, ensuring directors' fiduciary duty to OBSI without representing external interests.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-05•Albania•Bank of Albania
The Supervisory Council of the Bank of Albania approved the Annual Report 2024 and the allocation of the central bank’s profit for 2024. The report, a legal obligation for accountability, details macroeconomic developments, monetary policies, and financial stability risks, among other topics. It will be presented to the Parliament and published on the bank's website.
Institutional developmentGovernanceRegulatory reporting
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2025-03-05•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets and the International Finance Corporation (IFC) agreed to align Moldova’s capital markets regulatory framework with EU requirements, focusing on sustainable finance and ESG regulations. The Commission aims to transpose the full framework by 2026, with IFC support deemed crucial. Additional meetings with stakeholders are planned to assess needs for a normative framework aligned with EU standards.
Policy & regulationCooperationESGGreen taxonomy
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2025-03-05•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) announced that Anish Sunderji and First Globe Capital International Inc. paid CAD 120,000 to settle allegations of unregistered trading activity. First Globe admitted to trading securities without registration, earning CAD 211,384 in finder’s fees for referring investors to six companies between 2019 and 2020. The BCSC found no prior misconduct or investor losses related to the case.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-03-05•Global•Financial Stability Board
At the GFTN Forum Japan, Financial Stability Board Deputy Secretary General Martin Moloney stressed the need for agile regulation due to innovations like AI and crypto-assets, which accelerate risk transmission. He highlighted issues such as liquidity mismatches in tokenised real estate and AI-driven trading volatility, and outlined priorities like expanding regulatory perimeters and investing in supervisory capabilities. Moloney warned that slow regulatory responses could lead to cross-border fragmentation as activities migrate to avoid oversight.
Policy & regulationReform agendas & prioritiesFintech and insurtechRegtech and suptech
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2025-03-05•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission has launched a pilot to ease M&A lending rules for banks targeting tech companies, raising the loan-to-transaction ratio from 60% to 80% and extending loan tenors from seven to ten years. Covering 18 cities, it involves large, joint-stock, and city commercial banks with strong governance and M&A expertise, and tech firms with robust innovation prospects. Local regulators will oversee implementation, requiring banks to establish internal rules and credit assessment frameworks.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2025-03-05•China•China Banking and Insurance Regulatory Commission
Li Yunze, head of China's National Financial Regulatory Administration, outlined 2025 priorities: enhancing real estate and small enterprise financing, supporting consumption finance, and expanding technology-finance pilots. Key indicators include a 16% bank capital adequacy ratio, 200% insurance solvency, and CNY 3.8 trillion in non-performing asset disposals. Plans involve increasing credit for private firms, expanding real estate project eligibility, and advancing technology finance initiatives, including a CNY 60 billion addition to the insurance investment reform pilot.
Policy & regulationReform agendas & prioritiesEconomic data and developments
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2025-03-05•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration has expanded the pilot programme for financial asset investment companies (FAICs) to support technology innovation and private enterprises, now covering 18 cities with investments exceeding CNY 350 billion. The notice allows FAIC-related private equity funds to invest across provinces and permits insurance funds to invest in FAIC-affiliated funds and bonds. The regulator aims to improve the equity investment environment and enhance FAICs' systems and risk controls.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-05•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration, with other agencies, launched a pilot to enhance the intellectual property finance ecosystem in key regions. It addresses challenges in using intellectual property as collateral, focusing on registration, valuation, disposal, and risk-sharing. The plan includes expanding pledgeable rights, improving trading mechanisms, and establishing supportive infrastructure to scale successful practices nationwide.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-05•Moldova•National Bank of Moldova
The National Bank of Moldova reported on Governor Anca Dragu’s meetings in Brussels with European Parliament members to enhance financial cooperation with the EU. Discussions focused on Moldova's accession to the Single Euro Payments Area (SEPA) to modernize payments infrastructure and support economic integration. The meetings also addressed progress in European integration, financial reforms, and the need for further alignment with EU standards.
Policy & regulationCooperationCross-border cooperation
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2025-03-05•South Korea•Bank of Korea
The Bank of Korea released preliminary national accounts data for Q4 and the full year 2024, confirming a 0.1% quarter-on-quarter rise in real GDP, aligning with the advance estimate. Real gross national income increased by 1.3% over the same period.
Data & statisticsEconomic data and developments
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2025-03-05•Taiwan•Central Bank of Taiwan
The Central Bank of the Republic of China (Taiwan) reported foreign exchange reserves of USD 577.58 billion at the end of February 2025, a USD 1 million increase from the previous month. This change was due to reserve management returns, exchange rate movements, and operations to stabilize capital flows. Foreign portfolio investors' securities investments and New Taiwan dollar deposits were valued at USD 821.3 billion, 142% of the foreign exchange reserves.
Data & statisticsForeign exchange policy and markets
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2025-03-05•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released technical information on risk-free interest rate term structures as of February 2025. This data, based on EIOPA's Technical Documentation, supports the calculation of technical provisions for (re)insurance obligations under Solvency II. The information is accessible on EIOPA's dedicated RFR website section.
Policy & regulationGuidance & interpretationFinancial and market indicators