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2025-02-26•Albania•Bank of Albania
The Bank of Albania updated on Governor Sejko’s meeting with Riccardo Ercoli, IMF Executive Director for Albania, discussing IMF technical assistance and priorities in banking supervision, enterprise finance, and payments modernization. Key topics included regulatory changes to enhance consumer protection, a financing programme for micro, small, and medium-sized enterprises valued at approximately ALL 25 billion, and aligning the payments framework with European standards. Both parties stressed the importance of continued collaboration and monitoring financial stability indicators.
Policy & regulationReform agendas & prioritiesDomestic cooperation
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2025-02-26•Russia•Central Bank of Russia
The Central Bank of Russia released its 2024 Q4 Banking Regulation Review, detailing updates to credit risk assessment and regulatory amendments effective in 2025. Key changes include stricter controls on high-risk lending, revised provisioning requirements, and a more risk-sensitive capital approach for banks with a universal licence. The Bank also completed a report on concentration risk regulation, outlining steps to finalize the framework.
Policy & regulationRules & requirementsCredit riskCapital adequacy
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2025-02-26•United States•Federal Reserve Board
The Federal Reserve Board published a FEDS Note analyzing generative AI's impact on college majors and demographics. Mathematics and Computer Science are highly exposed to AI, while Engineering and Technology are most exposed to image generation. Significant correlations exist between demographics and exposure, affecting student engagement and staffing at Liberal Arts I and Research University I institutions.
ResearchArtificial intelligence
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2025-02-26•United States•Federal Reserve Board
The Federal Reserve Board released a staff FEDS Note comparing central banks' standing liquidity and intraday credit provisions, benchmarking foreign arrangements against the Federal Reserve's discount window. The note categorizes facilities at eight foreign central banks and highlights differences in routine and emergency lending, disclosure practices, and end-of-day balance treatments. It also discusses the trade-off between stigma and moral hazard, noting that U.S. programs differ in supervisory-eligibility access and disclosure.
ResearchLiquidity risk
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2025-02-26•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted a delegation from the Bank of Tanzania to exchange knowledge on digital transformation, FinTech, and payment systems. The visit included briefings on Egypt's work in FinTech, electronic payments, cybersecurity, and regulatory frameworks, as well as discussions on corporate governance and human resources management.
Policy & regulationCooperationCross-border cooperation
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2025-02-26•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has amended the DFSA Rulebook, effective 3 March 2025, following Consultation Paper No 163. Changes affect modules including Prudential – Investment, Insurance Intermediation and Banking Business, Conduct of Business, and Anti-Money Laundering. Final legislation may differ from proposals, with updated modules to be published online.
Policy & regulationRules & requirementsAML and CFTPrudential risks
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2025-02-26•Malta•Malta Financial Services Authority
The Malta Financial Services Authority (MFSA) warns Payment and Electronic Money Institutions to improve client fund protection and outsourcing management after thematic reviews and updates to the Financial Institutions Rulebook. Reviews showed deficiencies in safeguarding, governance, and outsourcing, highlighting conflicts of interest and poor board oversight. Institutions must now include safeguarding in annual audits and undergo outsourcing audit reviews, with ongoing MFSA supervision through meetings and inspections.
SupervisionReviews, inspections & stress testsOperational risk and resilience
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2025-02-26•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) filed a civil enforcement action against Alan Burak, founder of Never Alone Capital LLC, alleging a fraudulent scheme that raised about USD 4 million, largely misappropriated for personal use. The SEC claims Burak misled at least 17 investors with false representations and diverted funds to personal expenses, while providing false account statements. The SEC seeks permanent injunctions, disgorgement, civil penalties, and conduct-based injunctions, while the New York County District Attorney’s Office has filed parallel criminal charges.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-26•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency resolved a security incident involving an administrative account in its email system. Affected email accounts were disabled following a review of email logs dating back to 2022. The incident was reported to the Cybersecurity and Infrastructure Security Agency, with no current impact on the financial sector.
SupervisionInterventionsCyber resilience
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2025-02-26•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission and the National Development and Reform Commission reviewed the financial asset investment company equity investment pilot, highlighting policy refinements to support technology innovation and private enterprises. Expanded in September 2024, the pilot achieved full signing coverage across 18 cities with commitments exceeding CNY 350 billion. Authorities plan to enhance coordination, optimize policies, and expand the pilot based on feedback and implementation results.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-26•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration announced that from 1 March 2025, Hong Kong and Macao financial institutions can invest in mainland insurance companies without needing total assets of at least USD 2 billion. This change aims to enhance financial cooperation, strengthen capital, and optimize ownership structures under the Mainland–Hong Kong and Mainland–Macao CEPA frameworks.
Policy & regulationGuidance & interpretationMarket development
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2025-02-26•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE, via the Ministry of Finance and Central Bank, joined G20 and BRICS meetings to discuss disaster resilience, debt sustainability, and sustainable finance. Minister Mohamed Hadi Al Hussaini emphasized fiscal sustainability challenges for emerging markets amid high global debt and inflation, focusing on infrastructure investment, blended finance, and international tax cooperation. The UAE also advocated for multilateral cooperation to boost private-sector participation and technology use for sustainable development.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-02-26•Moldova•National Bank of Moldova
The National Bank of Moldova reported spot sales of EUR 22.4 million and FX swap purchases of EUR 2.6 million in the interbank foreign exchange market, with no forward operations conducted. Spot transactions affect the money supply, while FX swaps are reversible and do not have a long-term impact. Transactions are recorded on the trade date, with EUR and USD equivalents calculated using monthly average exchange rates.
Data & statisticsForeign exchange policy and markets
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2025-02-26•Moldova•National Bank of Moldova
The National Bank of Moldova released its monthly statistics for the non-cash foreign exchange market, detailing banks' foreign currency transactions against the Moldovan leu. The report highlights spot market activity with interbank purchases of EUR 37.36 million and sales of EUR 21.10 million, and intrabank purchases of EUR 308.26 million and sales of EUR 530.94 million, primarily in euros and US dollars.
Data & statisticsCurrency and cash management
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2025-02-26•Moldova•National Bank of Moldova
At a European Business Association forum, National Bank of Moldova First Deputy Governor Petru Rotaru emphasized European integration as a strategic priority, highlighting financial stability with a stress index below the critical threshold. He linked EU support and ongoing reforms to enhanced financial stability and investment, noting the banking sector's adequate capitalisation and liquidity. EU officials attended discussions on Moldova’s macroeconomic and energy perspectives.
Policy & regulationReform agendas & prioritiesCross-border cooperationFinancial stability and systemic risk
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2025-02-26•Moldova•National Bank of Moldova
The National Bank of Moldova released a draft decision to amend regulations on suitability requirements for bank management and key function holders, enhancing the "fit and proper" framework. Key changes include expanded assessment criteria, new definitions, and additional approval requirements for significant risk exposures. The draft also broadens reassessment triggers and strengthens compliance obligations linked to the bank governance framework.
Policy & regulationRules & requirementsCorporate governance
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2025-02-26•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance will host the XXIII Annual Conference on Insurance Regulation and Supervision in Latin America (ASSAL-IAIS 2025) on 27–28 March at the Buenos Aires Stock Exchange. Co-organized with ASSAL and IAIS, the event will cover the insurance sector outlook, anti-money laundering, regional supervisory challenges, and NatCat risks. The Ministry of Economy and Superintendent Guillermo Plate will participate in the opening.
Policy & regulationCooperationSupervision process and methodologies
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2025-02-26•Asia•Asia/Pacific Group on Money Laundering (APG)
The Asia/Pacific Group on Money Laundering said the Maldives’ mutual evaluation onsite visit was held in Malé from 12 to 23 January 2025. The review assesses technical compliance with FATF standards and the effectiveness of the country’s AML/CFT measures in practice. The report will be considered and adopted at the APG Annual Meeting in 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2025-02-26•Global•Financial Action Task Force
The Financial Action Task Force (FATF) has initiated a public consultation to gather input from the private sector and civil society on proliferation financing risks and sanctions evasion schemes. The study aims to enhance understanding of these risks and improve compliance with FATF Recommendation 7 and other sanctions. The consultation addresses issues such as vulnerable products, detection measures, and information-sharing practices.
Policy & regulationInternational standards & recommendationsAML and CFT
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2025-02-26•Denmark•National Bank of Denmark
The National Bank of Denmark released an analysis detailing Denmark's funding to the International Monetary Fund (IMF) and the central bank's management of this financial relationship. The report, available only in Danish, reviews Denmark's IMF accounts and examines the impact of new agreements on the bank's loan commitments, with financial engagements calculated in Special Drawing Rights (SDRs) at DKK 932.89 per SDR 100 as of 30 December 2024.
ResearchFinancial stability and systemic risk
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2025-02-26•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury announced the removal of Francois Edouard Mauron from the UK sanctions list under the Russia sanctions regime, lifting his asset freeze and trust services sanctions. The update emphasizes that institutions must freeze assets immediately if a person matches a UK sanctions list entry, with no dealings allowed without a legal exemption or licence.
EnforcementSanctions & designationsSanctions list update
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2025-02-26•Jamaica•Jamaica Financial Services Commission
The Jamaica Financial Services Commission (FSC) and the Trinidad and Tobago Securities Commission (TTSEC) discussed enhancing regional collaboration in securities regulation and capital markets development. Key topics included harmonizing regulatory approaches, building regional capacity, and updates on Jamaica's transition to the Twin Peaks regulatory model. The FSC also provided guidance on Virtual Asset Services Providers (VASPs) and plans to host the next Caribbean Group of Securities Regulators meeting in July 2025.
Policy & regulationCooperationCross-border cooperation
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2025-02-25•Greece•Bank of Greece
The Bank of Greece, with the Ministry of Environment and Energy and the Green Fund, held a workshop on financing climate change adaptation under the LIFE-IP AdaptInGR project. The session aimed to advance adaptation finance by mobilizing private capital alongside public resources, addressing the funding shortfall compared to climate change mitigation. Participants included representatives from financial and environmental organizations, discussing frameworks and case studies for adaptation financing.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-02-25•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy and Public Finance announced three new credit vehicles: the Export Support Credit Fund (Focax), the Sugarcane Sector Financing Fund (Focaña), and the Startup Fund, aimed at bolstering national production, exports, and innovation. Each fund will be capitalized with USD 6.03 million from banks' 2024 net profits. Focax and Focaña will finance microproducers and SMEs, while the Startup Fund provides venture capital through accelerators. The Financial System Supervision Authority will oversee compliance, with management contracts signed with financial institutions.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-02-25•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its condensed balance sheet statement as of 31 January 2025.
Data & statisticsBalance of payments and other external statistics
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2025-02-25•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has appointed Mark Steward as its new Chief Executive, effective 19 May 2025, for a three-year term. Steward, with over 30 years of international regulatory experience, will succeed Ian Johnston.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Ukraine•National Bank of Ukraine
The National Bank of Ukraine released an interview with Deputy Governor Sergiy Nikolaychuk discussing the economic impact of Russia's invasion and Ukraine's economic outlook. Key topics included worker shortages, energy system challenges, post-war economic activity, and deviations in inflation forecasts.
Monetary policyMonetary policy assessments & outlooks
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2025-02-25•Europe•Committee on Economic and Monetary Affairs
The European Parliament's Committee on Economic and Monetary Affairs will hold a public hearing with Dominique Laboureix, Chair of the Single Resolution Board, on 3 March 2025, focusing on the legislative package on crisis management and deposit insurance. Following this, ECON will interview candidates for open positions on the SRB, including the Vice Chair and two board member seats. The SRB manages distressed banks within the EU Banking Union.
Policy & regulationRules & requirementsRecovery and resolution
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2025-02-25•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has issued regulations on Close-out Netting and Related Collateral Arrangements for institutions under its supervision, providing legal certainty for netting and collateral arrangements linked to Qualified Financial Contracts. These regulations align with Saudi Arabia's legal framework and international standards, and apply immediately to all SAMA-regulated financial institutions.
Policy & regulationRules & requirements
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2025-02-25•United States•Federal Reserve Board
The Federal Reserve Board released a research paper proposing an alternative portfolio margining method for central counterparties using filtered historical simulation (FHS) with latent risk factors from principal component analysis (PCA). This approach addresses time-varying correlations and reduces computational burdens compared to traditional FHS. Backtesting during COVID-19 market stress showed improved performance, especially with sharp correlation changes.
ResearchCCPsStress testing
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2025-02-25•Australia•Australian Securities & Investments Commission
ASIC has banned Peter Aardoom, director of JB Markets Pty Ltd, from providing financial services for eight years due to misconduct involving a false loan agreement. Aardoom misrepresented a AUD 540,000 payment to manipulate voting power during a business restructure. The ban is recorded on ASIC’s Banned and Disqualified Persons Register. Aardoom and JB Markets have applied to the Administrative Review Tribunal to review ASIC’s decisions.
EnforcementInvestigations & enforcement actions
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2025-02-25•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama reported a 6% increase in total assets to USD 156,392.8 million and an 8.2% rise in profits for Panama’s International Banking Center in 2024. The banking system maintained strong liquidity and capital adequacy ratios, with a liquidity ratio of 54.29% and a capital adequacy ratio of 15.29%. Superintendent Milton Ayón Wong emphasized priorities including enhanced supervision, operational efficiency, cybersecurity, and modernized payments systems law.
SupervisionRisk monitoring & watch pointsLendingFinancial stability and systemic risk
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2025-02-25•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has introduced new rules for ASX Group's cash equity facilities, marking the first use of its Competition in Clearing and Settlement services reform powers. The rules require ASX to ensure transparent pricing, non-discriminatory access, and technology for third-party access. They enforce the Council of Financial Regulators' 2017 expectations and apply to ASX Clear Pty Ltd, ASX Clear (Futures) Pty Ltd, ASX Settlement Pty Ltd, and Austraclear Limited.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-25•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) reviewed sustainability-related marketing communications of asset managers, finding generally adequate information and minimal greenwashing. The review covered open-ended and closed-ended investment vehicles, assessing corporate sustainability initiatives and ESG strategies. A few imprecisions were noted, with the CNMV using the European Securities and Markets Authority's definition of greenwashing.
SupervisionReviews, inspections & stress testsGreenwashing
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2025-02-25•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) held a stakeholder meeting in Chake Chake, South Pemba, to gather feedback on enhancing service delivery. The South Pemba Regional Commissioner urged insurance institutions to collaborate with communities to address service quality issues. TIRA Deputy Commissioner Khadija Issa Said emphasized the need for open feedback, improved responses to compensation delays, and increased public education on insurance importance.
Policy & regulationOtherComplaints and dispute resolution
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2025-02-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The chair of the Ukraine National Commission on Securities and Stock Market aims for five well-known issuers to complete public offerings in Ukraine by February 2027, focusing on secondary public offerings. Potential candidates include Ukrposhta, state-owned banks, and possibly Ukrzaliznytsia, with offerings framed as minority stake sales. The initiative seeks to expand investable options beyond government bonds and bank deposits, particularly for pension funds.
Policy & regulationReform agendas & prioritiesSecurities offerings and listings
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2025-02-25•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has issued regulations on Close-out Netting and Related Collateral Arrangements for institutions under its supervision. These regulations ensure the enforceability of netting and collateral arrangements linked to Qualified Financial Contracts, regardless of bankruptcy proceedings, aligning with Saudi Arabia's legal framework and international standards. The regulations are effective immediately for all SAMA-regulated institutions.
Policy & regulationRules & requirements
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2025-02-25•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) and the Directorate-General of the National Public Procurement Service (SNCP) convened to enhance oversight of compulsory insurance in public procurement. The focus was on improving supervision of mandatory coverages, including occupational accidents, works damage, third-party civil liability, and contractor’s professional liability insurance.
SupervisionCooperationCross-border cooperation
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2025-02-25•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets released a report, “Choice guidance starts with the participant,” offering findings for pension providers to enhance choice guidance. Based on 2024 research, it advises tailoring guidance to participants' needs and communicating choices' implications effectively, especially during pension transitions. It clarifies advisory roles, noting providers can advise on scheme choices but cannot recommend specific financial products unless certain conditions are met.
Policy & regulationGuidance & interpretationOther
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2025-02-25•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
The Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) held the second forum of FATF-Style Regional Bodies (FSRBs) in Strasbourg to enhance global AML/CFT efforts. Discussions included challenges from recent mutual evaluations, priorities for upcoming evaluations, and FSRBs' roles in the FATF's International Co-operation Review Group process.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-02-25•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported that remittances from Peruvians abroad reached USD 4,945 million in 2024, marking an 11.2% increase from 2023. This inflow represented 1.7% of GDP, consistent with the previous year. The rise is attributed to improved employment conditions in the United States, the primary source of these remittances.
Data & statisticsBalance of payments and other external statistics
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2025-02-25•Saudi Arabia•Ministry of Finance (Saudi Arabia)
Saudi Arabia's Ministry of Finance and the International Monetary Fund concluded the AlUla Conference for Emerging Market Economies, focusing on monetary policy, debt management, and technology's economic role. Outcomes included a Saudi-Morocco financial collaboration memorandum, a debt restructuring agreement with Yemen, and a joint statement with the Asian Infrastructure Investment Bank to boost Saudi infrastructure investment. The conference addressed challenges like sluggish growth and rising public debt in emerging markets.
Policy & regulationCooperationEconomic data and developmentsMonetary policy decisions and developments
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2025-02-25•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendence of Banks held a workshop with compliance officers and other entities to enhance financial supervision and combat money laundering and terrorist financing. Superintendent Roberto Romero von Buchwald stressed robust control strategies and shared responsibility. The workshop focused on strengthening internal controls and early detection of suspicious transactions.
SupervisionCooperationAML and CFTCapacity building
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2025-02-25•China•Central Bank of the Republic of China
The People's Bank of China hosted a lecture with Monetary Policy Committee member Huang Yiping on economic challenges and policy options, attended by Governor Pan Gongsheng. Huang discussed economic risks, growth trends, and policy choices, while Pan emphasized a research-oriented central bank and coordinating macro control objectives. Deputy Governor Tao Ling chaired the session, with officials from the Central Financial Commission Office and the State Administration of Foreign Exchange present.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-25•Georgia•National Bank of Georgia
The National Bank of Georgia released interactive press releases detailing trends in resident commercial banks' loan portfolios and deposits as of January 2025. These are accessible in the statistics section of its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-25•Congo•Ministry of Finance & Economy (Congo)
Congo's Ministry of Finance and Economy, with the General Directorate of National Financial Institutions (DGIFN), reviewed the directorate's mandate and supervisory priorities, focusing on mobile money, financial inclusion, and Bitcoin regulation. DGIFN supports the minister in regulating banks, microfinance, and payment institutions. Future initiatives include establishing a BVMAC-Congo agency, creating a national financial institutions register, and introducing licensing fees.
Institutional developmentMandate & organizational structureSupervision process and methodologies
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2025-02-25•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier reported a 0.34% monthly decline in total net assets of Luxembourg UCIs, SIFs, and SICARs to EUR 5,820.088bn as of December 2024, despite a 10.12% increase over 12 months. The decline was due to net subscriptions of EUR 4.510bn and negative market effects of EUR 24.599bn. The number of UCIs decreased to 3,143, with net outflows in most equity UCI categories except US equities, while fixed income UCIs saw positive inflows.
Data & statisticsOther
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2025-02-25•Europe•European Banking Authority
The European Banking Authority has initiated a consultation to amend the Implementing Technical Standards for the 2026 EU benchmarking exercise, focusing on credit risk, market risk, and IFRS 9 models. Key changes include new templates for the Alternative Internal Model Approach under the Fundamental Review of the Trading Book and amendments for credit risk to align with revised supervisory reporting standards. The consultation aims to update data collection and templates for supervisory benchmarking.
Policy & regulationRules & requirementsSupervisory data
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2025-02-25•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported a 4.5% increase in U.S. house prices from Q4 2023 to Q4 2024, with a 1.4% rise from Q3 to Q4 2024. Connecticut, New Jersey, and Wyoming led state gains at 8.3%, while Urban Honolulu, HI saw the highest metropolitan increase at 18.7%. The agency will adopt updated metropolitan area delineations in future reports.
Data & statistics
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2025-02-25•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS has updated the Private Pension System (SPP) Compendium rules for the Disability Evaluation System (SEI) to reduce operational, legal, and information quality risks. Changes include improved governance standards for medical committees, an updated risk management approach focused on service quality, and clarified responsibilities between pension fund administrators and committees regarding member guidance and disability determinations.
Policy & regulationRules & requirementsOther
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2025-02-25•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Economy and Public Finance announced three new finance vehicles: the Export Support Credit Fund (Focax), the Sugarcane Sector Financing Fund (Focaña), and a Startup venture capital fund, each capitalized with USD 6.03 million. These funds, part of a 6% profit allocation from banks under Law No. 393, aim to support national production, exports, and entrepreneurship. Supervision will be by the Financial System Supervision Authority, with administration by Banco Unión S.A. and Banco de Desarrollo Productivo S.A.M.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-02-25•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on missed loan payments and debt restructuring. Key points: penalties up to 0.5% daily, mandatory notification and review timelines, and restructuring options like payment deferral and interest rate reduction. From June 2024, new measures include a loan ban for over 90 days of delinquency and mandatory biometric ID for online loans.
Policy & regulationGuidance & interpretationLendingRecovery and resolution
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2025-02-25•India•Reserve Bank of India
The Reserve Bank of India (RBI) revised regulatory capital risk weights for banks' microfinance loan exposures, setting a 100% risk weight for microfinance loans classified as consumer credit. Microfinance loans not classified as consumer credit may qualify for a 75% risk weight if they meet specific criteria under the RBI's Basel III capital regulations. Regional rural banks and local area banks will apply a 100% risk weight to all microfinance loans.
Policy & regulationRules & requirementsCapital adequacy
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2025-02-25•India•Reserve Bank of India
The Reserve Bank of India has revised capital treatment for scheduled commercial banks' exposures to non-banking financial companies (NBFCs), restoring risk weights to those based on the NBFC's external rating. This reverses the November 2023 measure that increased risk weights by 25 percentage points for ratings below 100%. The change excludes regional rural banks and payments banks and takes effect from April 1, 2025.
Policy & regulationRules & requirementsCredit risk
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2025-02-25•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria, led by Governor Dimitar Radev, and Finance Minister Temenuzhka Petkova have requested extraordinary convergence reports from the European Central Bank and the European Commission to expedite Bulgaria's euro adoption. This follows the National Assembly's decision to accelerate euro adoption preparations and the Council of Ministers' authorization under Article 140 of the Treaty on the Functioning of the EU.
Policy & regulationCooperationOther
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2025-02-25•Ghana•Bank of Ghana
The Bank of Ghana's new Governor, Johnson Pandit Asiama, outlined a six-part agenda focusing on reforms in monetary policy, foreign exchange market operations, and financial sector regulation. Key initiatives include revising the inflation targeting framework, introducing a new foreign exchange law, and enhancing the resolution framework for banks. The agenda also emphasizes strengthening cybersecurity, developing a digital strategy, and addressing the central bank's negative equity.
Policy & regulationReform agendas & prioritiesLeadership change and appointments
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2025-02-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Bank of East Asia, 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 who interacted with the fraudulent sites should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority alerted the public about fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. Customers were reminded that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive personal information through these channels. Affected individuals should contact Chong Hing Bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding a fraudulent social media account reported by Airstar Bank Limited. The HKMA reminded the public that banks will not request sensitive information or direct customers to websites via SMS or email hyperlinks. Individuals who have shared personal information or conducted transactions through the fraudulent account should contact Airstar Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-02-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) has issued an alert regarding fraudulent websites and internet banking login screens linked to China Construction Bank (Asia) Corporation Limited. The HKMA emphasizes that banks will not request sensitive information through SMS, email, or embedded hyperlinks. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-02-25•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission has introduced a new Examination Form to enhance risk-based supervision of insurance companies, mandating quarterly self-assessments of governance and key control functions. The form covers nine assessment areas, requiring board and subcommittee reviews and certifications. Results will inform the OIC's risk assessment and supervisory measures.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-02-25•Europe•European Central Bank
The European Central Bank (ECB) released President Christine Lagarde’s response to the European Parliament on the Eurosystem collateral framework, detailing eligibility and credit quality assessments. The ECB confirmed accepting Scope Ratings as an external credit assessment institution and outlined changes in rating assessments for public and private sector assets. The ECB emphasized its discretion in applying ratings, including deviations from external ratings to support monetary policy transmission.
Policy & regulationGuidance & interpretationCredit ratings
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2025-02-25•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported on the 10th meeting of the National Financial Stability Council, which reviewed prior decisions and agreed on measures to enhance financial stability, including in social insurance, pensions, and financial technology. Discussions addressed cashless settlements, payment infrastructure, cyber risk prevention, fiscal-sector risks, and the financial position of state-owned enterprises. The Council noted external risks such as trade disputes and market uncertainties, adopting decisions on exchange rate policy and foreign direct investment.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-02-25•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has enhanced its online lookup tool to include the websites of insurers, open supplementary pension entities, and capitalization companies, aiding consumers in verifying legitimate firms. The tool already provided details like head office address and business lines. SUSEP advises consumers to confirm both the firm's authorization status and the contracting website's legitimacy before purchasing insurance online.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-02-25•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
SUSEP's Superintendent Alessandro Octaviani highlighted the insurance market's growth at the MAPFRE Innovation Summit, emphasizing Brazil's potential for expanded coverage. He discussed SUSEP's innovation initiatives, such as the regulatory sandbox and Open Insurance, and advocated for a National Policy for Access to Insurance. Octaviani also underscored the importance of surety bond insurance in infrastructure projects and the role of technology in product innovation.
Policy & regulationReform agendas & priorities
-
2025-02-25•Jordan•Jordan Securities Commission
The Jordan Securities Commission, Amman Stock Exchange, and Securities Depository Center hosted a delegation from the Criminal Investigation Department to enhance cooperation in investigating financial crimes, focusing on forgery and fraud. The visit included briefings on capital market functions, corporate governance, and trading systems, emphasizing investor protection and international standards.
SupervisionCooperationCapacity buildingDomestic cooperation
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2025-02-25•Bulgaria•Ministry of Finance (Bulgaria)
Bulgaria's Ministry of Finance announced that Finance Minister Temenuzhka Petkova and Bulgarian National Bank Governor Dimitar Radev have requested extraordinary convergence reports from the European Commission and the European Central Bank to expedite euro adoption. This follows the National Assembly's decision to accelerate preparations and aligns with Council of Ministers Decision No. 92.
Policy & regulationCooperationOther
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2025-02-25•South Africa•South African Reserve Bank
The South African Reserve Bank reported a 1.8% decline in the composite leading indicator for December 2024, with significant negative contributions from reduced vehicle sales growth and fewer residential building plans approved. The coincident indicator fell by 0.1% in November 2024, influenced by lower trade sales and industrial production, while the lagging indicator rose by 0.3%.
Data & statisticsEconomic data and developments
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2025-02-25•South Africa•South African Reserve Bank
The South African Reserve Bank announced its first Financial Stability Research Symposium, focusing on financial stability and macroprudential policy amid global volatility. The 2025 theme emphasizes strengthening domestic financial sector resilience, with a call for papers on topics like technology's impact on bank customer behavior and climate risk policy development. The symposium will be held in Menlyn, Pretoria, combining academic presentations with policy discussions.
ResearchClimate risk and sustainable finance
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2025-02-25•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) released an accountability report for its Integrity Program, detailing 2024's actions approved by its Collegiate Board. Aligned with Brazil’s Office of the Comptroller General, the program focuses on transparency, ethics, and efficiency, highlighting staff training, integrity risk management, governance strengthening, and direct integrity promotion. PREVIC's 2024 Correctional Management Report noted no corruption-related investigations within the authority.
Institutional developmentGovernanceCorporate governance
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2025-02-25•United Arab Emirates•UAE Securities & Commodities Authority
The UAE Securities & Commodities Authority imposed fines totaling AED 1.15 million on companies and investors for non-compliance with anti-money-laundering and counter-terrorism financing rules and other regulatory requirements. Penalties included AED 650,000 for breaches of SCA rules and AED 500,000 for AML/CFT failures. The SCA emphasized ongoing enforcement and urged adherence to regulations to uphold ethical conduct and investor confidence.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-02-25•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a VND 1,000,000 fee for the re-issuance of a Securities Practising Certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer or directly to the Commission. Failure to complete the process within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) fined COOPERAUDI - Auditores Independentes and its technical lead, Edimar Wanderley, for audit deficiencies in investment funds’ financial statements managed by Um Invest. The penalties, totaling BRL 255,000, were for breaches of Brazilian Auditing Standards, specifically NBC TA 200 (R1), NBC TA 500 (R1), NBC TA 501, and NBC TA 505. The decision, led by reporting director João Accioly, allows for an appeal to the National Financial System Appeals Council.
EnforcementInvestigations & enforcement actionsAuditing
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2025-02-25•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles released its Financial Stability Committee's Q4 2024 review, identifying key domestic and international risks to financial stability and setting 2025 priorities. Domestically, weak tourism in 2024 is expected to rebound in 2025, while internationally, geopolitical uncertainties and trade tensions are noted. The Committee also discussed a work plan to enhance Seychelles’ Financial Stability Framework and the country's application to join the International Organisation of Securities Commissions.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskGeopolitical risk
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2025-02-25•Albania•Albania Financial Services Authority
The Albania Financial Services Authority has appointed Saimir Tola as the new Chair of its Board, completing its highest governing body. The appointment, approved by the Parliament of Albania, aims to strengthen the Authority's independence and enhance its supervisory and regulatory functions over non-bank financial markets.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia and the Ministry of Investment, Trade and Industry have launched the Strategic Co-Investment Fund under the New Industrial Master Plan 2030, allocating MYR 131.5 million through Equity Crowdfunding and Peer-to-Peer Financing platforms. The fund supports Malaysian SMEs and mid-tier companies across 21 sectors and four emerging growth sectors, aiming to mobilise capital for high-impact projects. The initiative is linked to the Securities Commission Malaysia’s 5-Year Roadmap and includes tools like a Capital Market Starter Pack and a Simplified Pitching Guide.
Policy & regulationImplementation, projects & pilotsCrowdfunding
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2025-02-25•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has granted L2O B.S.C. (c) a Financing Company license to operate in the Kingdom of Bahrain. This decision aligns with the Central Bank's strategy to support financial sector development while ensuring strong regulatory oversight.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-25•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC is advancing its initiative to expand the Government Securities Repurchase Agreement Market, potentially including nonbank financial institutions. A GMRA-based workshop with over 600 participants was held to enhance market readiness, and tax measures were introduced to broaden the Documentary Stamp Tax exemption. The SEC is also identifying a suitable self-regulatory organization to ensure the market's long-term viability.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-02-25•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved the prospectus for a sale of up to 900,000 EssilorLuxottica shares reserved for employees of Compagnie Industrielle d'Optique du Maroc and Movisia SA. Subscriptions are open from 26 February to 17 March 2025 at EUR 282.05 per share. The prospectus is supplemented by EssilorLuxottica’s universal registration document, 2024 half-year financial report, and other key documents.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-02-25•Thailand•Thailand Securities & Exchange Commission
Thailand SEC, Thai Digital Asset Operators Trade Association, and other agencies developed measures against digital asset mule accounts, targeting scams, money laundering, and cybercrime. Measures include expedited handling of mule accounts, transaction restrictions for identified holders, and enhanced data sharing guidelines. The SEC continues inspecting operators' compliance with identity verification and KYC/CDD standards.
Policy & regulationCooperationAML and CFTKYC
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2025-02-25•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 24,750 penalty on MSBG International Holdings Ltd., operating as MTT Centre, for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. A 2023 compliance examination revealed deficiencies in developing and maintaining updated compliance policies and procedures. The penalty was paid in full, concluding the proceedings.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-02-25•Global•ISDA
The International Swaps and Derivatives Association (ISDA) raised concerns about the global impact of the SEC's clearing mandate for US Treasury securities, urging a review of implementation timelines. ISDA noted unresolved capital and regulatory issues, including potential 80% capital increases for client clearing at US Global Systemically Important Banks (G-SIBs), and called for a one-year delay to the deadlines.
Policy & regulationGuidance & interpretationCCPsMarket infrastructure
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2025-02-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren sent a letter to CFPB Director-Designate Jonathan McKernan, questioning his stance on the agency's future amid alleged efforts by Trump and Musk to undermine it. The letter seeks McKernan's commitment to uphold consumer protection laws and address potential conflicts of interest involving Musk, particularly in auto lending and digital payments. Warren emphasizes the importance of McKernan's nomination hearing to affirm his dedication to consumer advocacy and legal compliance.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs Minority Staff released an analysis showing an 80% decline in consumer complaints processed by the Consumer Financial Protection Bureau (CFPB) since a stop-work order under the Trump Administration. Senators Elizabeth Warren and Andy Kim have requested detailed information from the CFPB's acting director on the program's operational capacity and resource adequacy.
SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
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2025-02-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren criticized President Trump and Elon Musk's efforts to dismantle the Consumer Financial Protection Bureau (CFPB) at a Senate forum, highlighting a minority report on unresolved consumer complaints. Warren noted the CFPB's role in returning over USD 21 billion to consumers and alleged Musk's tweet led to a temporary agency shutdown. The report indicates a decline in the CFPB's complaint-handling capacity, with ongoing legal actions by advocates to uphold the agency's mandate.
Policy & regulationOtherConsumer and investor protection
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the appointment of Nguyen Ngoc Canh as Deputy Governor, effective 1 March 2025, following the Prime Minister’s Decision 338/QD-TTg. Canh, previously Deputy Chairman of the Commission for the Management of State Capital at Enterprises, has held senior roles at the State Securities Commission and the State Bank of Vietnam.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the appointment of Nguyen Ngoc Canh as Deputy Governor, effective 1 March 2025, following the Prime Minister’s Decision No. 338/QD-TTg. Canh, previously Deputy Chairman of the Committee for the Management of State Capital at Enterprises, has held senior roles at the State Securities Commission and the State Bank of Vietnam.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the appointment of Nguyen Ngoc Canh as Deputy Governor, following Prime Ministerial Decision No. 338/QD-TTg. Nguyen previously held senior roles at the State Securities Commission and the State Bank of Vietnam, and was Deputy Chairman of the Commission for the Management of State Capital at Enterprises.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the appointment of Nguyen Ngoc Canh as Deputy Governor, effective 1 March 2025, following a Prime Ministerial decision. Canh previously held senior roles at the State Securities Commission and the State Bank of Vietnam.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the establishment of its Party Committee, reorganizing its party structure and leadership for the 2020–2025 term. Governor Nguyễn Thị Hồng was appointed as Party Secretary, with other key leadership roles filled. A new decree outlines the State Bank's functions as a ministerial-level agency responsible for monetary management and central banking operations.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the appointment of Nguyen Ngoc Canh as Deputy Governor. Canh brings nearly 30 years of experience in finance, banking, and state capital management, including leadership roles at the State Securities Commission and the Foreign Exchange Management Department.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) announced the establishment of the SBV Party Committee, reorganizing the existing Party Committee of the Central Banking Agency and transferring functions from the SBV Party Personnel Committee. The SBV also released Government Decree 26/2025/ND-CP, detailing its functions, tasks, powers, and organizational structure, reaffirming its status as a ministerial-level government agency and Vietnam's central bank. Leadership appointments for the 2020–2025 term include Governor Nguyen Thi Hong as Secretary.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) announced the establishment of the SBV Party Committee for the 2020–2025 term and Government Decree 26/2025/ND-CP outlining its functions. Decision 10-QĐ/ĐU reorganizes the Central Banking Agency Party Committee into the SBV Party Committee, while Decision 21-QĐ/ĐU appoints key leaders, including Governor Nguyen Thi Hong as Party Secretary. The SBV Party Committee will develop regulations to consolidate party leadership per Secretariat Regulation 253-QĐ/TW.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam convened its first Party Committee Executive Committee meeting for the 2020–2025 term, chaired by Governor Nguyen Thi Hong. The meeting focused on establishing governance and operational frameworks for the new Party organisation, reviewing draft regulations, and defining roles and responsibilities. Feedback from the session will be incorporated into final documents for implementation.
Institutional developmentGovernanceLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held its first Party Committee executive board meeting for the 2020–2025 term, led by Governor Nguyen Thi Hong, to review draft internal governance documents for a new organisational model. Discussions covered draft regulations for the Party Committee executive board, advisory units, work programme, and responsibility allocations. Governor Hong instructed the drafting team to integrate feedback and finalize issuance procedures for implementation.
Institutional developmentGovernanceLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held the first meeting of its Party Committee's Executive Committee for the 2020–2025 term, chaired by Governor Nguyen Thi Hong, to discuss internal governance restructuring. The meeting reviewed draft documents on working regulations, advisory body establishment, and delegation arrangements to streamline procedures. Governor Hong directed the incorporation of feedback and finalization of drafts for implementation.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced a new structure and mandate under a Government decree, effective 1 March 2025, as part of a public-sector streamlining programme. The restructuring reduces head units from 25 to 20 and reorganises 63 branches into 15 regional offices, while maintaining the central bank's functions under the State Bank Law 2010. Personnel changes include appointments and 653 staff registrations for retirement or departure.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) announced a revised structure under a new government decree, consolidating its local footprint and streamlining headquarters and supervisory structures. The overhaul reduces SBV branches from 63 to 15 regional branches, decreases head units from 25 to 20, and cuts internal departments by 23.9%, with further reductions planned. Government Decree 26/2025/ND-CP, effective 1 March 2025, also includes leadership appointments for unit heads and regional branches.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced a restructured framework following a new government decree, reducing its units from 25 to 20 and cutting internal divisions from 514 to 391. The restructuring consolidates 63 provincial branches into 15 regional units and reduces staff, with 653 resignations or early retirements anticipated. Decree 26/2025/ND-CP, effective 1 March 2025, replaces the previous decree, with further internal division reductions proposed.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-02-25•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee held a hearing on "Examining Policies to Counter China." Chairman French Hill emphasized U.S. economic and political strength over sanctions and export controls. Hill warned against focusing solely on technology flashpoints and highlighted domestic challenges like regulatory burdens. He outlined priorities including sustainable fiscal policy, leading a transparent global financial system, and addressing health and safety issues related to the opioid crisis.
Policy & regulationReform agendas & prioritiesGeopolitical risk