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  • 2025-02-18EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority and other European Supervisory Authorities set 2025 process to designate critical ICT third-party providers under DORA

    The European Securities and Markets Authority, with the European Banking Authority and the European Insurance and Occupational Pensions Authority, will implement the Digital Operational Resilience Act (DORA) oversight framework for critical ICT third-party service providers starting in 2025. The process involves criticality assessments and designations, with oversight engagement commencing post-designation. An online workshop is planned for Q2 2025 to explain the preparatory activities and oversight approach.

    Policy & regulationImplementation, projects & pilotsOutsourcing and third-party risk management
  • 2025-02-18EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority launches consultation on guidelines for prospectus supplements introducing new types of securities

    The European Securities and Markets Authority (ESMA) has released a consultation paper on draft guidelines for supplements adding new securities types to a base prospectus. The guidelines aim to harmonize national authorities' supervision of product supplements, addressing past divergences. ESMA plans to finalize the guidelines by Q4 2025 to enhance certainty for market participants across the EU.

    Policy & regulationGuidance & interpretationSecurities offerings and listings
  • 2025-02-18PeruSuperintendencia del Mercado de Valores de Peru

    Peru's Superintendencia del Mercado de Valores reports mutual fund assets hit record USD 13.219 billion in January 2025

    Peru's Superintendencia del Mercado de Valores reported mutual fund assets hit a record USD 13.219 billion as of 31 January 2025, a 47% increase from the previous year. Mutual fund participants rose by 21% to 424,091, and operating mutual funds increased to 226. Additionally, debt market financing saw one registration of debt instruments totaling USD 93.7 million and three primary public offerings totaling USD 56.2 million, with demand 1.6 times the amount offered.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-18AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission consults on additional reportable situations relief for minor rectified breaches

    The Australian Securities & Investments Commission (ASIC) has issued Consultation Paper 16 proposing relief under the reportable situations regime for Australian financial services and credit licensees. The proposal exempts certain breaches, like misleading conduct and civil penalty contraventions, if rectified within 30 days, affecting no more than five consumers, and resulting in losses under AUD 500. This relief excludes client money and clearing and settlement rule breaches, with licensees still required to maintain robust incident management systems.

    Policy & regulationRules & requirementsCompliance
  • 2025-02-18MauritiusMauritius Financial Services Commission

    Mauritius Financial Services Commission revises administrative penalty settlement discounts and restricts when settlement discussions can take place

    The Mauritius Financial Services Commission has amended its administrative penalties framework, updating the settlement discount schedule and clarifying conditions for discounts and settlement discussions. The changes include a tiered discount system based on the timing of settlement intentions and explicitly categorize financial crime as a serious breach. The amendments take effect on 24 February 2025.

    Policy & regulationRules & requirements
  • 2025-02-18UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market launches anonymous stakeholder survey to assess corruption risks

    The Ukraine National Commission on Securities and Stock Market has initiated an anonymous survey to assess corruption risks in its activities. The survey targets external stakeholders and aims to identify vulnerable processes to enhance anti-corruption measures.

    Institutional developmentCooperation & capacity buildingBribery and corruption
  • 2025-02-18UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market adds six projects to its list of unreliable investment projects

    The Ukraine National Commission on Securities and Stock Market has updated its list of unreliable investment projects, adding six new cases, including Saber Trade Stocks and GTC FX. The list now exceeds 400 scam projects, with guidance provided on identifying unreliable investments. Investors are advised to conduct basic checks and risk assessments before investing.

    SupervisionAlertsSanctions list update
  • 2025-02-18PeruCentral Bank of Peru

    Central Bank of Peru reports 2024 exports rose 12.4% to USD 75,916 million

    The Central Bank of Peru reported that Peru's total exports reached USD 75,916 million in 2024, marking a 12.4% nominal increase year on year. This growth was driven by a 4.3% rise in export volumes, notably in fishmeal, gold, and natural gas, and a 7.8% increase in export prices, influenced by higher mining commodity prices and adverse weather affecting agriculture. December 2024 exports amounted to USD 6,986 million, reflecting a 9.2% year-on-year increase due to elevated international metal prices.

    Data & statisticsBalance of payments and other external statistics
  • 2025-02-18GeorgiaNational Bank of Georgia

    National Bank of Georgia appoints Legal Department head Beka Dochviri as Executive Director

    The National Bank of Georgia has appointed Beka Dochviri as Executive Director, following his tenure as head of the bank's Legal Department. This update is part of broader leadership changes, including Natia Turnava's appointment as Governor and the addition of four new board members.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-02-18ChinaCentral Bank of the Republic of China

    People's Bank of China hosts third China Gulf Cooperation Council central bank governors meeting and sets priorities for deeper financial cooperation

    The People's Bank of China Governor Pan Gongsheng chaired a meeting with Gulf Cooperation Council central bank governors in Saudi Arabia, focusing on expanding China-GCC cooperation. Key areas include local currency cooperation, financial market investment, payment system interoperability, international financial governance reform, digital currency, and anti-money laundering. Bilateral meetings were also held with Saudi, Azerbaijani, UAE officials, and IMF Managing Director Kristalina Georgieva.

    Policy & regulationCooperationCross-border cooperation
  • 2025-02-18ChinaCentral Bank of the Republic of China

    People’s Bank of China governor urges faster IMF quota reform and outlines a moderately loose monetary policy stance

    People’s Bank of China Governor Pan Gongsheng stressed the need for faster IMF governance reform, including quota realignment, at a seminar on emerging market economies. He highlighted China's shift to a proactive fiscal policy and moderately loose monetary policy to support recovery, while advocating for enhanced macroprudential policy and tighter financial regulation amid global uncertainties. Gongsheng also called for greater exchange rate flexibility and stronger international macroeconomic policy coordination.

    Policy & regulationReform agendas & prioritiesEconomic data and developments
  • 2025-02-18EuropeEuropean Banking Authority

    European Banking Authority and other European Supervisory Authorities publish roadmap for 2025 designation of critical ICT third-party providers under DORA

    The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority released a roadmap for designating critical ICT third-party service providers under the Digital Operational Resilience Act, aiming for oversight in 2025. Authorities will submit ICT arrangement registers by April 2025, followed by criticality assessments and notifications by July 2025. A joint DORA oversight function ensures integrated oversight across sectors.

    Policy & regulationImplementation, projects & pilotsOutsourcing and third-party risk management
  • 2025-02-18PortugalBank of Portugal

    Bank of Portugal publishes January 2025 securities statistics with EUR 3.1bn net public debt issuance

    The Bank of Portugal's January 2025 securities statistics show resident debt securities rose to EUR 302.4bn, driven by public debt issuance. At end-2023, 14.5% of Portuguese non-financial corporations’ funding was from debt securities, with long-term instruments reaching EUR 33.1bn by end-2024. Non-residents held 65% of long-term corporate debt securities, while resident financial institutions held 88% of short-term instruments.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-18PeruSuperintendencia de Banca, Seguros y AFP del Peru

    Peru's Superintendency of Banking, Insurance and Pension Funds Administrators updates insurers’ investment rules and lifts the notification and authorisation cap to 35% of technical provisions

    Peru's Superintendency of Banking, Insurance and Pension Funds Administrators amended investment regulations for insurance companies, expanding eligible options and aligning with international standards. New instruments include co-investments, private debt funds, and sovereign exchange traded funds, excluding distressed and high yield debt. The limit for investments under notification and authorisation increases to 35% of technical provisions, with a 5% sublimit for private equity and related investments.

    Policy & regulationRules & requirements
  • 2025-02-18ZimbabweZimbabwe Insurance and Pensions Commission

    Zimbabwe Insurance and Pensions Commission discusses amendment bill to regulate medical aid societies and create a Policyholder Protection Fund

    The Zimbabwe Insurance and Pensions Commission, with the Parliamentary Portfolio Committee on Budget, Finance, and Investment Promotion, reviewed the proposed Insurance and Pensions Commission Amendment Bill. Key proposals include extending IPEC's oversight to medical aid societies and establishing a Policyholder and Pensions and Provident Fund Members Protection Fund. The bill aims to expand IPEC's functions, introduce new governance structures, and align the regulatory framework with constitutional and international standards.

    Policy & regulationRules & requirements
  • 2025-02-18Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission issues restriction notices to Money Concepts entities barring regulated activities without consent

    The Hong Kong Securities and Futures Commission (SFC) issued restriction notices to Money Concepts (Asia) Holdings Limited and Money Concepts Asset Management Limited, citing concerns over their honesty, reliability, and integrity. Issued under section 204 of the Securities and Futures Ordinance, the notices prohibit the firms from conducting licensed regulated activities without prior SFC consent. This action is necessary in the public interest and for investor protection.

    SupervisionInterventionsFitness and propriety
  • 2025-02-18SloveniaCentral Bank of Slovenia

    Central Bank of Slovenia reports 33 breach notifications in 2024 and refers five cases to the ECB

    The Central Bank of Slovenia released its report on breach reporting under Article 269 of the Banking Act (ZBan-3), noting 33 reports in 2024, with 19 involving potential regulatory breaches. Fourteen cases were managed internally, while five were referred to the European Central Bank. Twelve consumer reports were redirected to other departments, and two reports were deemed deficient.

    SupervisionRegulatory reportingComplaints and dispute resolution
  • 2025-02-18SloveniaCentral Bank of Slovenia

    Central Bank of Slovenia leaves basic payment account fee cap unchanged at EUR 4.90 per month and EUR 1.47 for social assistance recipients

    The Central Bank of Slovenia will maintain the cap on charges for basic payment accounts at EUR 4.90 per month, or EUR 1.47 for those eligible for social assistance. This decision considers inflation, average payment service costs, and the role of these accounts in financial inclusion. Banks must actively communicate the right to a basic payment account and provide written reasons for any refusal under the Payment Services, Electronic Money Issuance Services and Payment Systems Act.

    Policy & regulationRules & requirementsPayments and payment systems
  • 2025-02-18BulgariaNational Bank of Bulgaria

    National Bank of Bulgaria Printing Works wins High Security Printing EMEA award for best promotional banknote

    The National Bank of Bulgaria announced that BNB Printing Works AD won first place for "best promotional banknote" at the High Security Printing EMEA forum in Basel, Switzerland. The award-winning banknote, themed "The Butterfly Effect", was produced using advanced printing techniques and security features. Partner company Oberthur Fiduciaire was also recognized for "best new series of banknotes" for "The Art of Butterflies".

    Other
  • 2025-02-18Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent Chong Hing Bank website and internet banking login screen

    The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen associated with Chong Hing Bank 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 should contact Chong Hing Bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-02-18Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns the public about phishing emails linked to Bank of China Hong Kong

    The Hong Kong Monetary Authority (HKMA) issued an alert regarding phishing emails linked to Bank of China (Hong Kong) Limited. The HKMA emphasized that banks will not request sensitive information through SMS or email with embedded hyperlinks. Individuals who responded to such emails are advised to contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-02-18Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority issues website alert on fraudulent site linked to Bank of Communications (Hong Kong)

    The Hong Kong Monetary Authority (HKMA) has issued an alert regarding a fraudulent website linked to Bank of Communications (Hong Kong) 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 should contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-02-18Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent China Construction Bank Asia website and internet banking login screen

    The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen linked to China Construction Bank (Asia) Corporation Limited. The HKMA emphasized that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who interacted with the fraudulent site should contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-02-18EuropeEuropean Central Bank

    European Central Bank working paper links EU ETS carbon pricing to a 2% green equity premium in euro area stocks

    The European Central Bank's Working Paper No 3030 explores the outperformance of low-emission firms, linking it to carbon pricing under the EU Emission Trading System. The study finds a green-minus-brown premium of 2.01% from 2013 to 2022, with procyclical carbon prices affecting brown firms' costs and risk premiums. The paper also examines preference-based explanations, noting that stigma and preference tilts could influence the green premium.

    ResearchClimate risk and sustainable finance
  • 2025-02-18EuropeEuropean Central Bank

    European Central Bank working paper finds Pillar 2 requirement disclosure lowers bank funding costs and improves market efficiency

    The European Central Bank's Working Paper No 3031 examines how disclosing supervisory Pillar 2 capital requirements affects market efficiency, showing that transparency reduces funding costs and improves differentiation between safer and riskier banks. Using data from Banking Union Significant Institutions, the study estimates an average 11.5% reduction in funding costs for disclosing banks, with the safest quartile benefiting most. It also notes a mispricing pattern under opacity, where higher-risk non-disclosing banks may face lower funding costs, which disclosure helps correct.

    ResearchSupervision process and methodologies
  • 2025-02-18EuropeEuropean Central Bank

    European Central Bank’s Cipollone says balance sheet runoff is offsetting policy rate cuts and could tighten credit

    ECB Executive Board member Piero Cipollone stressed that the Eurosystem's balance sheet reduction should influence rate cuts as monetary policy eases. The ECB's balance sheet has decreased by over a quarter, mainly due to targeted longer-term refinancing operation repayments, with further reductions expected from non-reinvestment of maturing securities. Cipollone noted that policy rate cuts and quantitative tightening are opposing forces, impacting the yield curve and potentially limiting bank credit supply.

    Monetary policyMonetary policy instruments & operationsMonetary policy decisions and developments
  • 2025-02-18TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan warns public about fraudulent calls and social media banking scams

    The National Bank of the Republic of Tajikistan warned about rising fraud via online promotions and messaging apps, especially Telegram and WhatsApp. Scammers impersonate commercial staff, offering loan help or claiming urgent banking issues to extract sensitive information. The central bank stresses that legitimate financial entities don't operate on social networks and advises against trusting fake adverts or transferring money to unknown accounts.

    SupervisionAlertsOther
  • 2025-02-18BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority PREVIC requests closed pension entities to confirm when participation agreements for federative-sponsored plans became operational

    The Brazilian Pension Funds Authority (PREVIC) requests Closed Supplementary Pension Entities (EFPCs) managing benefit plans to provide information on participation agreements per Article 157 of PREVIC Resolution 23/2023. EFPCs must notify PREVIC of the operationalisation date and reasons for delays, including issues like lack of eligible employees or operational challenges. Monthly reporting on federative entities with operational participation agreements is also required.

    SupervisionRegulatory reportingLicensing framework and process
  • 2025-02-18BrazilBrazilian Pension Funds Authority (PREVIC)

    Brazilian Pension Funds Authority brings into force joint rules for portability and participant transfers across supplementary pension plans

    The Brazilian Pension Funds Authority, alongside the Brazilian Federal Revenue Service and the Superintendence of Private Insurance, has standardized fund portability and participant transfers between pension plans. The Joint Normative Instruction outlines procedures and accountability, aligning with Article 22-A of the Brazilian Federal Revenue Service Normative Instruction 2,209/2024 and Law 14,803/2024. It mandates the originating entity to provide data for calculating the accumulation period, applicable to transfers from 1 January 2005.

    Policy & regulationRules & requirementsOther
  • 2025-02-18ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision warns of counterfeit Bothnia International surety policies circulating in Italy

    The Italian Institute for Insurance Supervision (IVASS) warned about counterfeit surety policies marketed in Italy under Bothnia International Insurance Company Ltd, which disowns them. Bothnia, a Finland-based insurer, is authorised in Italy but doesn't issue new surety bonds or provide verification systems. IVASS advises verifying insurance documents through its public registers and warning lists.

    SupervisionAlertsFraud and scams
  • 2025-02-18MoroccoCentral Bank of Morocco

    Central Bank of Morocco launches interbank derivatives market for foreign exchange swaps and MONIA overnight index swaps

    The Central Bank of Morocco will launch an interbank derivatives market for foreign exchange swaps and Moroccan Overnight Index Average (MONIA) overnight index swaps on 19 February 2025. This initiative aims to deepen the foreign exchange market and provide a transparent reference for hedging interest-rate and exchange-rate risks. The market was developed with input from banks with market-maker status and the European Bank for Reconstruction and Development.

    Policy & regulationImplementation, projects & pilotsTradingMarket development
  • 2025-02-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission sets reporting process for intermediaries that detect signs of unregistered portfolio management

    The Brazil Securities Commission's Superintendence of Institutional Investor Supervision and Superintendence of Market and Intermediary Relations issued a joint circular letter detailing procedures for intermediaries upon detecting irregular securities portfolio administration. The guidance, supplementing CVM Resolution 35, mandates reporting to the relevant superintendence and outlines red flags like unauthorized third-party resource application and unregistered entities offering investment services.

    Policy & regulationGuidance & interpretationSupervision process and methodologies
  • 2025-02-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission rejects settlement proposal from Indústrias J.B. Duarte chair and approves BRL 126,000 agreement with Boa Safra director

    The Brazil Securities Commission (CVM) rejected a settlement proposal from Fábio Aylton de Casal de Rey due to legal impediments and inadequacy, related to alleged conflict-of-interest conduct breaching Brazil’s Corporations Law. Conversely, the CVM approved a settlement with Humberto Pimenta Martins Filho, involving a BRL 126,000 payment, addressing alleged trading violations during a prohibited period under CVM Resolution 44.

    EnforcementInvestigations & enforcement actionsCorporate governance
  • 2025-02-18BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission bans Bruno Guilherme Santana Silva for 51 months and fines Scallper Brasil Traders BRL 255,000 for unlicensed portfolio management

    The Brazil Securities Commission (CVM) has imposed a 51-month ban on Bruno Guilherme Santana Silva and fined Scallper Brasil Traders Ltda BRL 255,000 for unlicensed securities portfolio management. The unanimous decision, following a case by the Superintendence of Supervision of Institutional Investors, found breaches of Article 23 of Law 6,385 and Article 2 of CVM Resolution 21. The sanctioned party may appeal with suspensive effect.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-02-18SeychellesCentral Bank of Seychelles

    Central Bank of Seychelles publishes 2023 Financial Surveillance Report showing commercial bank assets rising to SCR 35,483 million

    The Central Bank of Seychelles' 2023 Financial Surveillance Report details performance data for commercial banks, non-bank financial institutions, payment service providers, and bureaux de change. Highlights include a SCR 1,345 million increase in commercial banks' total assets and a SCR 91 million rise in net profit after tax. The report outlines supervisory developments, including amendments to the National Payment System Act 2014 and a new Oversight and Supervision Framework for Financial Market Infrastructures.

    Data & statisticsSupervisory dataFinancial and market indicators
  • 2025-02-18SlovakiaNational Bank of Slovakia

    National Bank of Slovakia Bank Board approves 2024 investment reserves policy implementation report and authorises new silver collector coin set

    The National Bank of Slovakia’s Bank Board approved a report on the 2024 investment policy for its investment reserves and authorized the issuance of three silver collector euro coins titled “Fauna and flora in Slovakia.” The coins, featuring the grey wolf, Eurasian lynx, and brown bear, will each have a denomination of EUR 3.33 and be produced by the Pressburg Mint.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-02-18South KoreaSouth Korea Financial Services Commission

    South Korea Financial Services Commission secures cabinet approval for tighter short selling rules effective March 31

    The South Korea Financial Services Commission approved revisions to the Enforcement Decree of the Financial Investment Services and Capital Markets Act, enhancing short sale practices for resumption on March 31, 2025. Changes include a cap on institutional investors' stock repayment periods and new compliance obligations to prevent naked short selling. The Korea Exchange's Naked Short Selling Detecting System is tested, with upgrades at the Korea Securities Depository and Korea Securities Finance Corporation supporting the new framework.

    Policy & regulationRules & requirements
  • 2025-02-18AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan starts preliminary review of 14 applications for its special regulatory regime

    The Central Bank of the Republic of Azerbaijan has commenced the initial assessment of 14 applications for its special regulatory regime, focusing on innovative products in virtual assets, lending, and insurance. This regime allows participants to test financial products under central bank supervision. Successful products are expected to be introduced to the market after meeting the regime's criteria.

    SupervisionInnovation & testingFintech and insurtechSupervision process and methodologies
  • 2025-02-18CambodiaSecurities and Exchange Regulator of Cambodia

    Securities and Exchange Regulator of Cambodia meets UNESCAP and GGGI to advance Cambodia Sustainable Bond Accelerator Program cooperation

    The Securities and Exchange Regulator of Cambodia hosted representatives from the United Nations Economic and Social Commission for Asia and the Pacific and the Global Green Growth Institute to review ongoing cooperation on the Cambodia Sustainable Bond Accelerator Program. The meeting included a briefing on impact reporting for SERC management and officials.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-02-18CambodiaSecurities and Exchange Regulator of Cambodia

    Securities and Exchange Regulator of Cambodia presides over Intelligent Investment training for Western University students

    The Securities and Exchange Regulator of Cambodia presided over the "Intelligent Investment" training programme in Phnom Penh, organized by Acleda Securities Plc. and Western University. The event aimed to educate university students on securities market fundamentals, investment strategies, mutual funds, and trading account processes, with participation from SERC, the Cambodia Securities Exchange, and Banjaran Asset Management.

    Financial literacy & educationFinancial literacy and education
  • 2025-02-18CanadaFinancial Services Regulatory Authority of Ontario

    Financial Services Regulatory Authority of Ontario revokes Shah Ata Hussain Faridi’s Mortgage Agent Level 1 licence and refuses Mortgage Agent Level 2 licence for false application information

    The Financial Services Regulatory Authority of Ontario has revoked Shah Ata Hussain Faridi’s Mortgage Agent Level 1 licence and refused to issue a Level 2 licence, citing unsuitability. FSRA determined Faridi made false statements in his application and his conduct suggests he would not comply with legal and ethical standards. This decision follows a Financial Services Tribunal directive under Ontario Regulation 409/07.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-02-18GlobalTaskforce on Nature-related Financial Disclosures

    Taskforce on Nature-related Financial Disclosures launches Learning Lab and Trainer Portal to expand market training on nature-related issues

    The Taskforce on Nature-related Financial Disclosures (TNFD) has launched two open-access tools: a Learning Lab for self-guided training and a Trainer Portal for training providers. These tools help market participants implement TNFD recommendations on nature-related issues, featuring modules and curated content from TNFD Knowledge Partners. TNFD's initiatives include a Train-the-Trainer programme and planned training by the Sustainable Stock Exchanges Initiative.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-18GlobalISDA

    International Swaps and Derivatives Association calls for revisions to the US Basel III endgame after analysis shows a USD 7.2 billion capital increase for six G-SIB client clearing businesses

    The International Swaps and Derivatives Association (ISDA) urged US regulators to recalibrate the proposed Basel III "endgame" capital rules, highlighting concerns over market liquidity and banks' intermediation capabilities. ISDA's recommendations include recognizing diversification in market risk, adjusting credit valuation and securities financing rules, and addressing the supplementary leverage ratio and G-SIB surcharge, impacting US G-SIB client clearing businesses and upcoming mandatory clearing in the US Treasury market.

    Policy & regulationGuidance & interpretationCapital adequacyPrudential risks
  • 2025-02-18VietnamState Bank of Vietnam

    State Bank of Vietnam deputy governor urges foreign banks to establish trade union organisations and join the Vietnam Trade Union

    State Bank of Vietnam Deputy Governor Dao Minh Tu urged foreign banks in Vietnam to form trade unions and integrate employees into the Vietnam Trade Union framework. Foreign institutions cited challenges like obtaining parent bank approval and differing trade union laws. Tu noted most employees are Vietnamese and suggested using part-time staff for union roles to support labor rights and wage arrangements.

    Policy & regulationGuidance & interpretationOther
  • 2025-02-18SwedenFinansinspektionen

    Swedish Financial Supervisory Authority reports Q4 2024 median fund fees showing active funds around 1.3% versus 0.25–0.35% for index funds

    The Swedish Financial Supervisory Authority released consumer-facing data on typical fund charges to enhance price awareness, providing quarterly median fees for popular fund categories as benchmarks. For Q4 2024, median fees were 1.31% for actively managed Sweden equity funds and 0.25% for Sweden index funds, with global counterparts at 1.30% and 0.35%. The authority highlights Sweden's low fund costs in the EU but advises consumers to monitor fees due to their long-term impact.

    Financial literacy & education
  • 2025-02-18SwedenFinansinspektionen

    Swedish Financial Supervisory Authority launches in-depth analysis of how extreme weather could affect consumers’ insurance cover

    The Swedish Financial Supervisory Authority is conducting an in-depth analysis on the impact of climate change and extreme weather on Swedish consumers' access to home insurance. Increased weather-related events may elevate insurers' costs, potentially limiting consumers' ability to secure adequate insurance coverage. Households without insurance would face the full financial burden of losses.

    SupervisionRisk monitoring & watch pointsClimate risk and sustainable finance
  • 2025-02-18CanadaNew Brunswick Financial & Consumer Services Commission

    New Brunswick Financial & Consumer Services Commission launches consultation on proposed changes to insurance intermediaries licensing and obligations

    The New Brunswick Financial & Consumer Services Commission has issued a notice seeking comments on proposed amendments to Rule INS-001, which governs insurance intermediaries' licensing and obligations.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-02-18NorwayNorwegian Finanstilsynet

    Norway's Financial Supervisory Authority finds material ICT governance and control deficiencies at Sparebanken Vest and requires remediation confirmation by 31 August 2025

    Norway's Financial Supervisory Authority released an ICT supervisory report on Sparebanken Vest, identifying significant shortcomings in governance and control of ICT systems, including outsourced areas. The report highlighted issues in organisational arrangements, ICT risk framework, and outsourcing oversight, with corrective measures planned for early 2025. The bank committed to enhancing incident reporting and making information security requirements contractually binding for suppliers.

    SupervisionReviews, inspections & stress testsIT managementOperational risk and resilience
  • 2025-02-18CanadaCanadian Securities Administrators

    Canadian Securities Administrators launches CSA Collaboratory and consults on client data portability and e-KYC solutions

    The Canadian Securities Administrators (CSA) launched the CSA Collaboratory to evaluate the market impact and regulatory implications of emerging technologies, starting with a consultation on investment client data portability and electronic Know-Your-Client (e-KYC) solutions. Led by regulators in British Columbia and Alberta, the initiative seeks input on data portability's demand, benefits, and potential regulatory barriers. Eligible businesses may pilot solutions with CSA feedback if progressed.

    Policy & regulationImplementation, projects & pilotsFintech and insurtechOpen banking and finance
  • 2025-02-18CanadaCanadian Investment Regulatory Organization

    Canadian Investment Regulatory Organization launches consultation on supporting consumer-driven banking among members

    The Canadian Investment Regulatory Organization (CIRO) is exploring support for open banking adoption by its members, aiming to reduce regulatory burden and duplication. Planned consultations will address accreditation, oversight, and compliance within federal standards. Coordination with stakeholders, including the Canadian Securities Administrators, is anticipated.

    Policy & regulationGuidance & interpretationOpen banking and finance
  • 2025-02-18RussiaCentral Bank of Russia

    Central Bank of Russia reports over 750 cyber attacks on financial institutions in 2024 and highlights more sophisticated supply-chain intrusions

    The Central Bank of Russia reported over 750 cyber incidents in the financial sector in 2024, highlighting increasingly sophisticated hacking techniques. Attacks primarily targeted information infrastructure through distributed denial-of-service and supplier-focused methods. The bank conducted regular cyber drills with over 290 companies to enhance sector preparedness.

    Data & statisticsCyber resilience
  • 2025-02-18RussiaCentral Bank of Russia

    Central Bank of Russia reports banks thwarted 72.17 million fraud attempts in 2024 and strengthened theft data exchange

    The Central Bank of Russia reported credit institutions blocked 72.17 million attempted thefts in 2024, saving RUB 13.5 trillion, up from 34.77 million attempts and RUB 5.8 trillion in 2023. Despite increased prevention, cyber fraud losses rose to RUB 27.5 billion, a 74% increase from the previous year. Enhanced data exchange on fraudulent transactions and blocking fraud-related phone numbers and websites were among the measures implemented.

    Data & statisticsFraud and scams
  • 2025-02-18EgyptCentral Bank of Egypt

    Central Bank of Egypt details expanded sustainable finance initiatives as SBFN upgrades Egypt to Advancing

    The Central Bank of Egypt highlighted its sustainable finance initiatives, focusing on renewable energy, waste recycling, and MSMEs. Egyptian banks developed over 24 products in sectors like energy efficiency and healthcare, with 31 banks offering solutions for sustainable growth and financial inclusion. The sector's alignment with the United Nations Environment Programme Finance Initiative Principles for Responsible Banking reached 75%, and Egypt's rating in the Sustainable Banking and Finance Network was upgraded to Advancing.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-18ThailandBank of Thailand

    Bank of Thailand reports resilient banking system with improved 2024 profitability and NPL ratio falling to 2.78%

    The Bank of Thailand's quarterly assessment reports a resilient banking system with strong capital, provisions, and liquidity, alongside improved profitability in 2024. Concerns include SME and household debt serviceability, declining competitiveness in certain businesses, and the effectiveness of the "Khun Soo, Rao Chuay" support program. Loan growth contracted by 0.4% year on year in Q4 2024, with a decline in consumer lending and a decrease in gross non-performing loans to THB 552.1 billion, while household and corporate debt to GDP ratios fell.

    SupervisionRisk monitoring & watch pointsAsset qualityCapital adequacyLiquidity risk
  • 2025-02-18ChinaChina Banking and Insurance Regulatory Commission

    China Banking and Insurance Regulatory Commission tells banks and insurers to step up credit, insurance and real estate financing support for private enterprises

    The China Banking and Insurance Regulatory Commission stressed boosting banking and insurance support for private enterprises, focusing on stable credit growth and enhanced lending for micro and small firms. It urged developing a targeted bank-enterprise matching platform and using technology to improve inclusive finance. Additionally, it called for the "whitelist" mechanism and diverse financing tools to support real estate financing needs, while promoting equal market access and expanding insurance products.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-02-18QatarQatar Financial Centre

    Qatar Financial Centre hosts asset management workshop with K&L Gates on fund formation and regulatory trends

    The Qatar Financial Centre hosted an Asset Management Workshop with K&L Gates, focusing on market developments and operational considerations. Discussions included local and global trends, regulatory frameworks, and the process for establishing funds and fund managers in the QFC. The workshop also addressed global legal developments, including U.S. and EU changes, Qatar's digital asset regulations, and the GCC asset management market.

    Policy & regulationGuidance & interpretationOther
  • 2025-02-18QatarQatar Financial Markets Authority

    Qatar Financial Markets Authority and Union of Arab Securities Authorities launch Islamic sukuk and Islamic finance training programme

    The Qatar Financial Markets Authority and the Union of Arab Securities Authorities launched a training programme in Doha on Islamic Sukuk and Finance, focusing on Sharia standards, governance, and auditing. Based on standards from the Accounting and Auditing Organization for Islamic Financial Institutions, it targets professionals in Islamic finance and conventional banking. Participants will receive a certificate from QFMA and UASA.

    Policy & regulationImplementation, projects & pilotsCapacity building
  • 2025-02-18Dominican RepublicCentral Bank of the Dominican Republic

    Central Bank of the Dominican Republic publishes financial stability reports projecting a 1.5% non-performing loan ratio in 2025 and capital above the 10% minimum

    The Central Bank of the Dominican Republic's reports for September 2024 and end-2023 indicate no significant short-term macrofinancial risks and adequate financial entity capitalization. Stress tests project a non-performing loan ratio of around 1.5% in 2025, with solvency indicators above the 10% regulatory minimum. The reports highlight 2024 growth in financial intermediaries' assets, credit, and equity, alongside regulatory updates and financial inclusion initiatives.

    ResearchFinancial and market indicatorsSupervisory data
  • 2025-02-18Trinidad & TobagoTrinidad & Tobago Securities & Exchange Commission

    Trinidad and Tobago Securities and Exchange Commission issues warning on evolving investment scam tactics

    The Trinidad and Tobago Securities and Exchange Commission issued a warning about new investment scam tactics, urging public vigilance and due diligence. Scammers are using fake social media profiles, promises of high returns, and AI-enabled impersonations to defraud individuals. The TTSEC highlighted tactics such as pressure for quick deposits, withdrawal delays with high fees, and the use of platforms displaying inflated balances.

    SupervisionAlertsFraud and scams
  • 2025-02-18EuropeEuropean Insurance and Occupational Pensions Authority

    European Supervisory Authorities set 2025 process to designate critical ICT third-party providers under DORA and begin oversight

    The European Supervisory Authorities have outlined steps for designating critical ICT third-party service providers under the EU Digital Operational Resilience Act (DORA) by 2025 and initiating oversight engagement. A joint DORA oversight function has been established to manage day-to-day oversight across sectors. Competent Authorities must submit ICT third-party arrangement registers by April 2025, with criticality assessments and notifications completed by July 2025.

    Policy & regulationImplementation, projects & pilotsOutsourcing and third-party risk management
  • 2025-02-18EuropeEuropean Insurance and Occupational Pensions Authority

    European Insurance and Occupational Pensions Authority establishes Consultative Expert Group on Data Use in Insurance with 12-month mandate starting March 2025

    The European Insurance and Occupational Pensions Authority (EIOPA) has formed a Consultative Expert Group on Data Use in Insurance to aid its work on data sharing and digitalisation challenges. The group comprises experts from the insurance industry, academia, and stakeholder organisations, including BEUC and Finance Watch. Work is set to commence in March 2025 and conclude within a year.

    Policy & regulationImplementation, projects & pilotsData protectionSupervision process and methodologies
  • 2025-02-18PalestinePalestine Monetary Authority

    Palestine Monetary Authority deepens AML CFT cooperation with Egypt’s Anti-Money Laundering and Counter-Terrorist Financing Unit

    The Palestine Monetary Authority's Governor, Yahya Shunnar, met with Ahmed Saeed Khalil, Chairman of the Egyptian Anti-Money Laundering and Counter-Terrorist Financing Unit, in Cairo to enhance bilateral cooperation on AML/CFT. Discussions focused on exchanging expertise, improving coordination, and developing mechanisms to combat financial crimes, with participation from senior officials of both institutions.

    SupervisionCooperationAML and CFTCross-border cooperation
  • 2025-02-18NetherlandsDe Nederlandsche Bank

    De Nederlandsche Bank data show Dutch households’ securities holdings hit record EUR 192.4 billion in Q4 2024 despite net sales

    De Nederlandsche Bank reported Dutch households' portfolio investments in listed shares, investment fund shares, and bonds hit a record EUR 192.4 billion in Q4 2024, driven by valuation gains despite net selling. US shares and equity funds significantly contributed, with US listed shares rising 10% to EUR 17.5 billion. At year-end, households held EUR 64.9 billion in listed shares, EUR 121.7 billion in investment fund shares, and EUR 5.8 billion in bonds, with net disposals totaling EUR 1.6 billion.

    Data & statisticsFinancial and market indicators
  • 2025-02-18United Arab EmiratesDubai International Financial Centre

    Dubai International Financial Centre posts record 2024 revenues and profit and reaches 6,920 active companies

    Dubai International Financial Centre (DIFC) reported record 2024 revenues of AED 1.78bn (USD 484mn) and operating profit of AED 1.33bn (USD 363mn), marking a 37% and 55% increase year-on-year, respectively. Active companies rose to 6,920, driven by 1,823 new registrations, with technology and innovation as the fastest-growing segment. DIFC highlighted the enactment of a Digital Assets Law and announced the upcoming opening of a new Funds Centre and Dubai AI Week in 2025.

    Institutional developmentOther
  • 2025-02-18CaribbeanEastern Caribbean Central Bank

    Eastern Caribbean Central Bank releases Environmental and Social Commitment Plan for Caribbean resilient renewable energy investment facility

    The Eastern Caribbean Central Bank released an Environmental and Social Commitment Plan for the Caribbean Resilient Renewable Energy Infrastructure Investment Facility Project. The plan details the preparation, consultation, disclosure, and implementation of environmental and social documents in line with the Environmental and Social Standards, as well as measures to address related issues.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-17AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission publishes its 2025 regulatory agenda for consultation

    The Angola Capital Markets Commission has released its 2025 Regulatory Agenda for consultation, outlining planned regulatory interventions in the securities and derivatives markets to enhance transparency and predictability. The agenda details the regulatory priorities and stages, from drafting to publication, aiming to provide early visibility and support stakeholder participation.

    Policy & regulationReform agendas & priorities
  • 2025-02-17NicaraguaCentral Bank of Nicaragua

    Central Bank of Nicaragua releases Q4 2024 foreign trade statistics as exports rise and the 2024 trade deficit widens

    The Central Bank of Nicaragua's Foreign Trade Report for Q4 2024 shows total exports at USD 1,831.6 million, a 10.1% increase year-on-year, and imports at USD 2,756.8 million, up 5.3%, resulting in a trade deficit of USD 925.2 million, 3.1% smaller than Q4 2023. For the full year, exports rose 2.3% to USD 7,717.2 million, driven by mining, fishing, and manufacturing, while imports increased 7.8% to USD 10,775.7 million, leading to a trade deficit of USD 3,058.5 million, up 24.6% from 2023.

    Data & statisticsBalance of payments and other external statistics
  • 2025-02-17Sierra LeoneMinistry of Finance (Sierra Leone)

    Sierra Leone's Ministry of Finance announces Sheku Fantamadi Bangura elected chair of the West Africa Monetary Zone Convergence Council

    Sierra Leone's Finance Minister Sheku Fantamadi Bangura was elected Chairman of the West Africa Monetary Zone (WAMZ) Convergence Council. At the 53rd meeting, Bangura highlighted global shocks' impact, Sierra Leone's inflation decline to 13.6%, and growth projections of 3% and 3.3%. He stressed meeting WAMZ convergence targets for the single currency programme and supported ECOWAS economic protocols and regional infrastructure investment.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-02-17Saudi ArabiaSaudi Arabian Monetary Authority

    Saudi Arabian Monetary Authority licenses ATAMAD as a consumer microfinance provider, taking total to eight

    The Saudi Arabian Monetary Authority (SAMA) has licensed ATAMAD to provide consumer microfinance solutions, increasing the number of such licensed companies to eight and the total number of finance companies licensed by SAMA to 65. SAMA emphasized the importance of engaging only with authorized financial institutions and noted that a list of licensed entities is available on its website.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-02-17IsraelBank of Israel

    Bank of Israel study finds 51.57 percent of Israelis show high interest in using a digital shekel

    The Bank of Israel's study on the adoption of a digital shekel reveals strong public interest, with 51.57% of respondents showing high interest, driven by ease of use and central bank backing, but tempered by cybersecurity concerns. Interest varies by demographics, with higher interest among men, older individuals, and those with higher income, while the Haredi community shows lower interest.

    ResearchCBDC
  • 2025-02-17EuropeEuropean Securities and Markets Authority

    European Securities and Markets Authority consults on knowledge and competence criteria for crypto-asset service providers’ staff giving information or advice

    The European Securities and Markets Authority (ESMA) has initiated a consultation on guidelines to assess the knowledge and competence of crypto-asset service providers' staff. The guidelines propose minimum requirements for staff knowledge and organisational measures for maintaining competence, aiming to enhance investor protection and trust in crypto-asset markets.

    Policy & regulationInternational standards & recommendationsFintech and insurtechConsumer and investor protection
  • 2025-02-17Hong KongHong Kong Mandatory Provident Fund Schemes Authority

    Hong Kong Mandatory Provident Fund Schemes Authority establishes expert group to support phase two eMPF Platform onboarding

    The Hong Kong Mandatory Provident Fund Schemes Authority and the eMPF Platform Company have formed an Expert Group to guide the eMPF Platform's second onboarding phase starting in early March. Operational since June 2024, the platform will see remaining trustees migrate in stages, increasing assets under management and scheme participation. The Expert Group, comprising IT professionals and industry leaders, will regularly assess operations and advise on service delivery.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-02-17British Virgin IslandsMinistry of Finance (British Virgin Islands)

    British Virgin Islands Ministry of Finance briefs Hong Kong industry on rapid regulatory changes and beneficial ownership register consultations

    The British Virgin Islands Ministry of Finance discussed recent regulatory changes at a Hong Kong roundtable, emphasizing competitiveness in Asia-Pacific markets. Key topics included beneficial ownership registers and engagement with international bodies like the Financial Action Task Force and OECD. The Premier highlighted BVI's commitment to international sanctions, reporting standards, and cooperation with law enforcement, while addressing misrepresentation concerns.

    Policy & regulationGuidance & interpretationCross-border cooperation
  • 2025-02-17British Virgin IslandsMinistry of Finance (British Virgin Islands)

    British Virgin Islands Ministry of Finance outlines financial services policy approach and flags ongoing beneficial ownership register consultations at Hong Kong roundtable

    The British Virgin Islands Ministry of Finance, via Premier Dr. Natalio D. Wheatley's remarks at a Hong Kong Financial Services Round Table, outlined its strategy for managing regulatory changes while maintaining its financial services model. This includes aligning with international standards, engaging with bodies like the Financial Action Task Force and the OECD, and consulting on beneficial ownership registers. Plans for dialogue with Asia-based stakeholders and cooperation with international law enforcement were also noted.

    Policy & regulationReform agendas & prioritiesCross-border cooperation
  • 2025-02-17AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission issues two interim stop orders against Green Planet Recycling Solutions’ AUD 20m preference share offer

    ASIC issued interim stop orders on Green Planet Recycling Solutions Limited's offer of redeemable preference shares due to inadequate prospectus disclosures and non-compliance with design and distribution obligations. Concerns include insufficient information on financials, business model, fund use, risks, and potentially misleading sustainability claims. The company also failed to prepare a target market determination. The orders prevent offering, issuing, or advising on the securities for 21 days unless revoked earlier.

    EnforcementInvestigations & enforcement actionsSecurities offerings and listings
  • 2025-02-17Saudi ArabiaSaudi Arabian Monetary Authority

    The Saudi Central Bank enables acceptance of JCB cards on the mada national payment system for POS payments and ATM withdrawals

    The Saudi Central Bank (SAMA) announced that the mada national payment system now supports JCB International cardholders in Saudi Arabia, enabling digital payments and ATM cash withdrawals. This initiative aims to facilitate payments for JCB cardholders through local banks and licensed Payment Service Providers, enhancing the acceptance of global payment networks in the Kingdom's digital payments infrastructure.

    Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
  • 2025-02-17Saudi ArabiaSaudi Arabian Monetary Authority

    Saudi Central Bank licenses ATAMAD to provide consumer microfinance solutions

    The Saudi Central Bank (SAMA) has licensed ATAMAD to offer consumer microfinance solutions in Saudi Arabia, raising the number of licensed consumer microfinance providers to eight and the total licensed finance companies to 65. SAMA emphasized the importance of engaging only with authorized financial institutions.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-02-17Saudi ArabiaSaudi Arabian Monetary Authority

    Saudi Central Bank enables JCB card acceptance on mada point-of-sale terminals and ATMs

    The Saudi Central Bank announced that the national payment system, mada, is now equipped to enable JCB International cardholders to make digital payments and ATM withdrawals in Saudi Arabia. This initiative aims to enhance the payment experience for JCB cardholders visiting the Kingdom and supports mada's integration with global payment networks to advance digital payment infrastructure and reduce cash dependency.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-02-17EuropeCommittee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)

    Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the FATF Training Institute complete standards training for 41 participants in Ostia

    MONEYVAL, with the FATF Training Institute, concluded a Standards Training Course in Ostia, Italy, to enhance expertise in combating money laundering. Attended by 41 participants from FATF and MONEYVAL jurisdictions, the course was supported by Italian authorities. MONEYVAL plans further cooperation with the FATF Training Institute for future joint training initiatives.

    Policy & regulationCooperationAML and CFTDomestic cooperation
  • 2025-02-17PeruCentral Bank of Peru

    Central Bank of Peru reports 2024 trade surplus of USD 23,821 million as exports rise 12.4%

    The Central Bank of Peru reported a merchandise trade surplus of USD 23,821 million for 2024, significantly up from USD 17,678 million in 2023. Exports grew 12.4% year on year to USD 75,916 million, while imports rose 4.5% to USD 52,095 million. December 2024 saw a trade surplus of USD 2,333 million, with exports driven by higher international metal prices and imports led by industrial inputs and durable consumer goods.

    Data & statisticsBalance of payments and other external statistics
  • 2025-02-17LatviaMinistry of Finance (Latvia)

    Latvia's Ministry of Finance outlines Eurogroup and ECOFIN agenda including EUR 150.2 million Recovery Fund plan reallocations

    Latvia's Finance Minister Arvils Ašeradens will attend Eurogroup and ECOFIN meetings in Brussels on 17–18 February, focusing on the Eurogroup work programme, competitiveness, and Recovery Fund amendments. Discussions include Bulgaria’s euro adoption, the euro area outlook, and the European Commission's Competitiveness Compass. ECOFIN will address reallocating EUR 114 million to Rail Baltica and EUR 36.2 million to social care and housing, alongside discussions on Russia’s war in Ukraine and EU budget matters.

    Policy & regulationImplementation, projects & pilotsEconomic data and developments
  • 2025-02-17IrelandDepartment of Finance (Ireland)

    Ireland's Department of Finance outlines Minister Donohoe’s Eurogroup and ECOFIN agenda including the 2025 Euro Area Recommendation

    Ireland's Department of Finance released an agenda for Minister Paschal Donohoe's participation in EU finance meetings, including chairing the Eurogroup and attending ECOFIN. Key discussions will cover Bulgaria's euro adoption progress, the euro area macroeconomic outlook, and the Euro Area Recommendation for 2025. ECOFIN will address the economic situation, the OECD tax agreement, Ukraine's financial outlook, and EU fiscal rules.

    Policy & regulationCooperationMonetary policy decisions and developments
  • 2025-02-17LuxembourgLuxembourg Commission de Surveillance du Secteur Financier

    Luxembourg Commission de Surveillance du Secteur Financier formally designated as MiCAR supervisor with VASP transition running to 1 July 2026

    Luxembourg's Law of 6 February 2025 designates the CSSF to supervise crypto-asset service providers under Regulation (EU) 2023/1114 (MiCAR). It grants supervisory powers, introduces sanctions, and implements Regulation (EU) 2023/1113 on fund transfers. Transitional arrangements allow virtual asset service providers registered before 30 December 2024 to remain on the CSSF's register until 1 July 2026 or until MiCAR authorisation is granted or refused.

    Policy & regulationRules & requirementsLicensing framework and processRegulatory reporting
  • 2025-02-17AustraliaAustralian Transaction Reports and Analysis Centre (AUSTRAC)

    Australian Transaction Reports and Analysis Centre cancels or conditions registrations for 13 remittance and digital currency exchange providers after AML/CTF reporting blitz

    AUSTRAC has taken action against 13 remittance service providers and digital currency exchanges after a year-long campaign against non-reporting of suspicious transactions. In late 2024, AUSTRAC cancelled, suspended, or refused renewals for nine providers under the Anti-Money Laundering and Counter-Terrorism Financing Act, imposed conditions on Currencyfair Australia Pty Ltd and Currencyfair Limited, and removed Zipmex Australia Pty Ltd and FTX Express Pty Ltd from the Digital Currency Exchange Register due to insolvency. Compliance alerts were issued, with over 50 operators under scrutiny, highlighting ongoing money laundering risks in the digital currency exchange sector.

    EnforcementInvestigations & enforcement actionsAML and CFT
  • 2025-02-17SwedenRiksbank

    Sweden's Riksbank to exchange SEK 7,900 million EU budget payment and repurchase euros over two months

    Sweden's Riksbank will exchange its February 2025 EU budget contribution of SEK 7,900 million in the foreign exchange market to prevent large exchange-rate fluctuations. This technical operation has no monetary policy purpose, and any liquidity impact will be neutralised using FX swaps. The Riksbank will repurchase the corresponding euro amount linearly over two months.

    Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
  • 2025-02-17ColombiaSuperintendencia Financiera de Colombia

    Superintendencia Financiera de Colombia reports 2024 severance contributions up 15.79% to COP 16.101 trillion

    The Superintendencia Financiera de Colombia reported COP 16.101 trillion in severance payments for 2024, marking a 15.79% nominal and 10.06% real increase from the previous year. Of this, 77.7% was managed by private severance fund administrators and 22.3% by the National Savings Fund. Total severance affiliates numbered 12,633,161, with significant withdrawals due to contract terminations.

    Data & statisticsOther
  • 2025-02-17PeruSuperintendencia de Banca, Seguros y AFP del Peru

    Peru's Superintendency of Banking, Insurance and Pension Funds reminds Coopac of emergency loan reprogramming measures allowing up to six-month term extensions

    Peru's SBS reiterated that savings and credit cooperatives not authorized to receive public funds can reprogramme loans for borrowers impacted by climatic emergencies without it being considered refinancing. Borrowers must have been classified as normal or having potential problems with arrears of no more than 30 days. The loan term can be extended by up to six months, with specific prudential and accounting treatments applied.

    SupervisionInterventionsLendingPrudential risks
  • 2025-02-17Hong KongHong Kong Securities & Futures Commission

    Hong Kong Securities and Futures Commission clarifies authorisation requirements for SEHK-listed closed-ended alternative funds with HKD 780 million size benchmark

    The Hong Kong Securities and Futures Commission issued a circular clarifying requirements for authorising and listing closed-ended alternative funds on the Stock Exchange of Hong Kong. It confirms eligible funds can be listed, expecting a market capitalisation of HKD 780 million (USD 100 million) and regular income generation. It emphasizes investor protection, requiring intermediaries to assess clients' understanding and net worth relative to the risks.

    Policy & regulationGuidance & interpretationSecurities offerings and listings
  • 2025-02-17GlobalWorld Bank

    World Bank Board approves USD 145 million financing for Honduras to boost fiscal transparency and climate sustainability

    The World Bank approved a USD 145 million financing package for Honduras to enhance tax transparency and support economic and climate sustainability. This initiative aims to improve domestic resource mobilization, prevent money laundering, and facilitate access to international financial resources, including sustainable bond issuance. It also includes measures for deforestation-free exports, disaster risk assessment, and energy efficiency.

    Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
  • 2025-02-17BulgariaNational Bank of Bulgaria

    National Bank of Bulgaria condemns attempted political action in its headquarters and reasserts central bank independence

    The National Bank of Bulgaria issued a statement condemning a political action by the Vazrazhdane party within its premises, emphasizing that such activities are prohibited by Bulgarian and EU law. The bank reaffirmed its independence and urged Parliament and state institutions to protect its mandate from political interference.

    Other
  • 2025-02-17Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority reports Q4 2024 credit card receivables up 7.9% to HKD 162.2 billion with delinquency ratio steady at 0.40%

    The Hong Kong Monetary Authority's credit card lending survey for Q4 2024 reported a 7.9% increase in total card receivables to HKD 162.2 billion, with the delinquent and rescheduled ratio steady at 0.40%. The rise was attributed to festive spending and salaries tax payments, while the charge-off ratio slightly decreased to 0.57%.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-02-17IndiaReserve Bank of India

    Reserve Bank of India permits NDS-OM matching and CCIL clearing for government securities trades between a primary member and its own Gilt Account Holders

    The Reserve Bank of India allows government securities transactions between a Negotiated Dealing System – Order Matching (NDS-OM) primary member and its Gilt Account Holder, or between two Gilt Account Holders of the same primary member, to be matched on NDS-OM and settled through the Clearing Corporation of India Limited (CCIL). This applies to both anonymous Order Matching and Request for Quote segments, with optional CCIL clearing for bilaterally negotiated transactions reported to NDS-OM. Settlement failures will be treated as 'SGL bouncing' under existing penal provisions.

    Policy & regulationRules & requirementsMarket infrastructure