-
2025-01-22•United States•U.S. Securities & Exchange Commission
The U.S. SEC issued a Notice of Proposed Plan of Distribution for a Fair Fund, funded by a USD 200 million penalty against Barclays PLC and Barclays Bank PLC, to compensate investors harmed by securities law violations. The plan includes a single claims process for losses during the "Relevant Period" for Barclays ADRs and ordinary shares. Commissioner Hester M. Peirce raised concerns about the extraterritorial application of the Sarbanes-Oxley Act and the policy implications of compensating foreign-exchange investors.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
-
2025-01-22•Moldova•National Bank of Moldova
The National Bank of Moldova released an update on its foreign exchange market activity, detailing interventions and interbank volumes for spot and swap operations. The report shows spot sales of USD 51.9 million and swap purchases of USD 2.021 million, with no forward operations. The bank differentiates between direct spot transactions affecting money supply and reversible foreign exchange swaps.
Data & statisticsForeign exchange policy and markets
-
2025-01-22•Moldova•National Bank of Moldova
The National Bank of Moldova, with the European Bank for Reconstruction and Development and Argos Advisory, launched a workshop on compliance in international trade, emphasizing international standards and a robust compliance framework. It covers risks related to international sanctions, financial compliance regulation, and strategies to prevent illicit activities, with contributions from the US Treasury on the Office of Foreign Assets Control programme.
Policy & regulationImplementation, projects & pilotsComplianceDomestic cooperation
-
2025-01-22•Moldova•National Bank of Moldova
The National Bank of Moldova released monthly statistics on the non-cash foreign exchange market, detailing banks' foreign currency transactions against the Moldovan leu. Interbank spot transactions amounted to USD 76,936.7k in purchases and USD 32,306.8k in sales, while intrabank transactions were USD 505,364.0k in purchases and USD 805,831.6k in sales. Swap turnover was limited to USD 64.5k, with no forward transactions reported.
Data & statisticsCurrency and cash management
-
2025-01-22•South Korea•Bank of Korea
The Bank of Korea's January 2025 Consumer Survey reports the Composite Consumer Sentiment Index (CCSI) at 91.2, an increase of 3.0 points from December.
Data & statisticsEconomic data and developments
-
2025-01-22•Denmark•National Bank of Denmark
The National Bank of Denmark's analysis shows banks and mortgage institutions can absorb potential credit losses on DKK 274 billion of agricultural lending due to the planned carbon tax. Starting at DKK 300 per tonne of CO2e in 2030 and rising to DKK 750 in 2035, the tax may increase farms' insolvency risk, but institutions' loss-absorbing capacity is expected to exceed potential losses by over four times. The gradual tax phasing supports loss absorption and allows time for lending and capital planning adjustments.
ResearchClimate risk and sustainable finance
-
2025-01-22•Taiwan•Central Bank of Taiwan
The Central Bank of the Republic of China (Taiwan) released December 2024 statistics for the Taipei foreign exchange market, showing a total net trading volume of USD 908.3 billion and an average daily turnover of USD 41.3 billion. Interbank transactions comprised 71.1% of net turnover, with significant activity in NTD/USD and USD/RMB currency pairs. Foreign exchange swaps were the predominant instrument, accounting for 52.8% of the volume.
Data & statisticsForeign exchange policy and markets
-
2025-01-21•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved a merger involving Plovdiv Tech Park AD, Orpheus Club Wellness AD, and IT Academy AD into Corporation for Technology and Innovations AD, and updated Lev Invest REIT's Articles of Association. It registered a new bond issue by Holding Varna AD and wrote off an existing bond issue by Industry Development Holding AD. Additionally, the Commission amended its licensing ordinance and notified relevant parties of Winners Investments' intention to operate in Bulgaria.
Policy & regulationRules & requirementsLicence approvalSecurities offerings and listings
-
2025-01-21•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia’s Capital Markets Authority (CMA) is consulting on amendments to brokerage licensing requirements in the Capital Market Law. The proposal aims to shift the determination of minimum capital and legal structure from the law to CMA regulations, allowing for tailored requirements. This change is intended to support the development of dealing and custody activities and attract international brokerage firms to the Saudi market.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-01-21•Greece•Bank of Greece
The Bank of Greece reported a cash balance surplus of EUR 1,031 million for the central government net borrowing requirement in 2024, contrasting with a deficit of EUR 2,685 million in 2023. Ordinary budget revenue increased to EUR 69,434 million, while expenditure rose to EUR 63,428 million compared to the previous year.
Data & statisticsFinancial and market indicators
-
2025-01-21•Greece•Bank of Greece
The Bank of Greece reported a provisional travel services surplus of EUR 419.9 million for November 2024, up from EUR 229.9 million in November 2023, driven by a 44.7% increase in travel receipts. From January to November 2024, the surplus reached EUR 18,768.2 million, with a 4.9% rise in receipts and a 9.7% increase in inbound traveller flows. Travel receipts offset 13.0% of the goods deficit in November and accounted for 62.0% of net service receipts.
Data & statisticsBalance of payments and other external statistics
-
2025-01-21•Israel•Bank of Israel
The Bank of Israel released updated statistics on expected inflation, showing one-year expectations clustered at 2.3%–2.4% across various measures, with forward expectations ranging from 2.3% to 2.7% for different terms. The report highlights that breakeven inflation includes an inflation-risk premium and may be influenced by taxation and liquidity differences.
Data & statistics
-
2025-01-21•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) has published new General Provisions for Simplified Issuers and Securities, following the 2023 Securities Market Law reform. This initiative aims to facilitate smaller companies' access to the securities market through a streamlined registration process. Stock exchanges and broker-dealers must update their internal rules, while CNBV will review related secondary rules to enhance the simplified regime.
Policy & regulationRules & requirementsSecurities offerings and listings
-
2025-01-21•Israel•Bank of Israel
The Bank of Israel has allocated unique participant identification codes to nonbank payment service providers Okoora Trade Flow Ltd. and Gama Management and Settlement Ltd., facilitating their connection to Israel’s payment systems as part of efforts to enhance competition and reduce fintechs' reliance on banks.
Policy & regulationImplementation, projects & pilotsLicence approval
-
2025-01-21•South Africa•National Credit Regulator
South Africa's National Credit Regulator issued a consumer advisory under its Spend Wisely/Borrow Wisely campaign, urging households to borrow only when necessary from registered credit providers. It highlights risks of unregistered lenders, such as excessive interest rates and unlawful practices, and emphasizes budgeting, saving, and understanding credit terms. It also notes that 20.77 million of the 28.15 million credit-active consumers in South Africa struggle with debt repayment.
Financial literacy & educationConsumer and investor protection
-
2025-01-21•Mauritius•Mauritius Financial Services Commission
The Mauritius Financial Services Commission announced that SARVA CAPITAL LLC has surrendered its authorization to operate as a Closed End Fund, effective 03 October 2024. The surrender and termination were conducted under Sections 28(5) and 28(9) of the Financial Services Act 2007.
SupervisionAuthorisations & approvalsLicence withdrawal
-
2025-01-21•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has issued guidance on compliance with the Digital Operational Resilience Act (DORA), effective 17 January 2025. The document outlines requirements for maintaining information registers of ICT third-party service providers and reporting major ICT-related incidents, detailing the scope and practical submission procedures.
Policy & regulationGuidance & interpretationOperational risk and resilienceOutsourcing and third-party risk management
-
2025-01-21•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) has issued guidance on financial entities' obligations under the Digital Operational Resilience Act (DORA), effective from 17 January 2025. The document outlines requirements for maintaining an information register of ICT third-party service providers and reporting major ICT-related incidents.
Policy & regulationGuidance & interpretationOperational risk and resilienceOutsourcing and third-party risk management
-
2025-01-21•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released findings and guidance on crypto asset service providers' advertising and cost disclosures under the Markets in Crypto-Assets Regulation (MiCAR), effective 30 December 2024. The AFM observed potential MiCAR breaches and expects providers to ensure communications are in customers' interests, emphasizing clear, non-misleading information and risk warnings. The AFM will supervise compliance with MiCAR norms, focusing on consumer protection.
Policy & regulationGuidance & interpretationDisclosures
-
2025-01-21•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) outlined its supervisory focus for crypto-asset service providers under the EU Markets in Crypto-Assets Regulation (MiCAR), emphasizing high risks despite oversight. MiCAR mandates providers obtain an AFM licence and adhere to requirements on information provision and marketing. However, the AFM noted deficiencies in disclosures and limitations in MiCAR's scope, such as limited powers to prevent market abuse. The AFM will closely supervise compliance, particularly regarding misleading information and inadequate risk warnings.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protectionDisclosures
-
2025-01-21•Peru•Central Bank of Peru
The Central Bank of Peru reported that total exports rose 18.7% year-on-year to USD 7.039 billion in November 2024, driven by higher export prices and volumes. Export prices increased 9.5%, mainly due to higher international prices for metals, while volumes rose 8.4% with larger shipments of copper concentrates and other products. From January to November 2024, exports totaled USD 68.183 billion, up 11.6% from the previous year.
Data & statisticsBalance of payments and other external statistics
-
2025-01-21•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority announced the publication of Instruction No. 24-10 on methods for placing stock exchange orders.
Policy & regulationGuidance & interpretationTrading
-
2025-01-21•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has filed a petition with the Supreme Court of Bermuda to wind up Stonebridge Capital Hedge Fund Limited under the Investment Funds Act 2006 and the Companies Act 1981. The hearing is scheduled for 31 January 2025, with creditors and contributories allowed to support or oppose the petition.
EnforcementInvestigations & enforcement actionsFinancial benchmarks
-
2025-01-21•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has republished the 2024 year-end Bermuda Solvency Capital Requirement models for various insurer classes and insurance groups due to issues in the December 2024 versions. Key updates include referencing 2024 year-end capital charges and correcting formula errors affecting solvency calculations under IFRS and GAAP. The BMA advises using the republished models if the issues materially impact the insurer or group.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
-
2025-01-21•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners has appointed 42 consumer liaison representatives for 2025, comprising 23 funded and 19 unfunded members. The program, established in 1992, aims to enhance consumer issue awareness through engagement with NAIC members and the insurance industry. Notably, 38 representatives are continuing from 2024.
Institutional developmentLeadership change & appointmentsConsumer and investor protection
-
2025-01-21•Norway•Department of Finance (Norway)
Norway's Ministry of Finance has formed a private-sector reference group to help evaluate the EU's new anti-money laundering legislative package. The group includes representatives from sectors like the Norwegian Bar Association and Finans Norge and will work with the ministry's working group. The EU package, adopted in May 2024, aims for a harmonised regime with expanded scope and clearer links to EU sanctions, expected to apply mainly from summer 2027.
Policy & regulationCooperationAML and CFT
-
2025-01-21•Europe•European Banking Authority
The European Banking Authority (EBA) issued an Opinion on the interaction between the Basel output floor and Pillar 2 requirements (P2R) under the Capital Requirements Directive. It advises that P2R should not increase solely due to the output floor and highlights the risk of double counting. The EBA will incorporate this Opinion in its upcoming review of the EBA Guidelines on the Supervisory Review and Evaluation Process (SREP).
Policy & regulationGuidance & interpretationCapital adequacy
-
2025-01-21•Portugal•Bank of Portugal
The Bank of Portugal reported that cumulative financing for Portugal’s public administrations reached EUR 1.8bn through November 2024, compared to EUR -9.7bn in the same period of 2023. The rest of the world contributed EUR 4.6bn, mainly via debt securities, while public administrations financed banks by EUR 2.2bn through increased deposits. Net debt securities issuance added EUR 2.9bn, with loans net of deposits at EUR -1.1bn.
Data & statisticsBalance of payments and other external statistics
-
2025-01-21•Laos•Bank of the Lao
The Bank of the Lao PDR hosted a Bank of Korea delegation to review the 2024 Bank of Korea–Knowledge Partnership Programme and discuss ongoing cooperation. The meeting focused on future collaboration and technical assistance to enhance the Lao banking sector, with an emphasis on staff capacity-building.
Institutional developmentCooperation & capacity buildingLeadership change and appointments
-
2025-01-21•Laos•Bank of the Lao
The Bank of the Lao and the Bank of Korea held a seminar under the 2024 Bank of Korea Knowledge Partnership Programme to discuss implementing Risk-Based Supervision (RBS) methods for bank supervision. The event in Vientiane featured lessons on credit risk assessment, supervisor analysis, and inspections tailored to banks' risk profiles, as well as strategies for estimating costs and impacts from exchange rate volatility and depreciation of the Lao kip.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
-
2025-01-21•Laos•Bank of the Lao
The Bank of the Lao's deputy governor met with the Thai Ambassador to discuss cooperation, including a seminar to enhance finance access for microenterprises and SMEs. This collaboration aligns with the 75th anniversary of Laos-Thailand diplomatic relations, with the Bank of the Lao prepared to support and co-host related activities.
Policy & regulationCooperationOther
-
2025-01-21•T?rkiye•Capital Markets Board of Türkiye
İbrahim Ömer Gönül, Chair of the Capital Markets Board of Türkiye, has been elected Vice Chair of the International Organization of Securities Commissions (IOSCO) Growth and Emerging Markets Committee for the 2025–2026 term, joining the IOSCO Board. The IOSCO GEM Committee, with 116 members, focuses on developing securities and futures markets in emerging economies. The Capital Markets Board of Türkiye recently hosted the IOSCO GEM Annual Meeting, discussing sustainability, crypto assets, and literacy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-01-21•Sweden•Riksbank
Sveriges Riksbank has initiated a consultation on proposed amendments to the RIX payment settlement system's terms, aiming to enhance clarity and transparency. The proposal allows Payment Institutions and Electronic Money Institutions to participate in RIX, with safeguards such as a SEK 100 million deposit cap and no access to intraday credit or the monetary policy operational framework. Additional updates include terminology changes, expanded Account Terms, and clarified requirements for collateral arrangements and incident reporting.
Policy & regulationRules & requirementsPayments and payment systems
-
2025-01-21•Sweden•Riksbank
Sweden's Riksbank Deputy Governor Aino Bunge highlighted the need for regulation to protect cash as payment behaviour digitises, stressing its importance for inclusivity and as a crisis alternative. Bunge supported a December 2024 inquiry proposing mandatory cash acceptance by certain retailers and emphasized safeguarding cash infrastructure. The Riksbank plans to respond comprehensively if the proposals advance to formal consultation.
Policy & regulationReform agendas & prioritiesPayments and payment systems
-
2025-01-21•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has removed LLP “QarjyNS Collection Agency” and LLP “2QAZ Collection” from the register of collection agencies due to inactivity for 12 consecutive months. The agencies must re-register to remove "collection agency" from their names and notify relevant parties within specified timeframes.
SupervisionAuthorisations & approvalsLicence withdrawal
-
2025-01-21•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on loans, stressing affordability checks, understanding contract terms, and repayment discipline. Borrowers should compare loan terms, review disclosures, and borrow only from licensed creditors. The guidance highlights a unified legal regime for settling problematic debt and recommends early payment and obtaining written confirmations.
Policy & regulationGuidance & interpretationLending
-
2025-01-21•France•Bank of France
The Bank of France's Observatory for the Security of Payment Means reported a shift towards cashless payments in early 2024, with a 4.5% rise in transaction volume and a reduction in fraud value to EUR 585 million. Instant credit transfers and mobile contactless payments increased significantly, while cheque usage declined. The Observatory anticipates further growth in instant credit transfers in 2025 due to new European regulations and urges enhanced fraud controls by payment providers.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-01-21•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced that the Market Misconduct Tribunal ordered Ms Choi Ban Yee to disgorge HKD 106,968 from insider dealing in Asiasec Properties Limited shares. The Tribunal also imposed 16-month cold shoulder orders, cease and desist orders, and costs orders against Choi and her husband, Mr Sit Yuk Yin. Proceedings against Dan Form’s former company secretary, Ms Cynthia Chen Si Ying, and Mr Wen Lide continue.
EnforcementInvestigations & enforcement actionsMarket abuse
-
2025-01-21•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance released the IMF's Article IV assessment, forecasting 1.5% GDP growth in 2025 and recommending fiscal consolidation to reduce the public debt-to-GDP ratio. The IMF advises increasing the countercyclical capital buffer and enhancing the macroprudential toolkit. Additional recommendations include addressing vulnerabilities in short-term wholesale funding, cross-border exposures, and household indebtedness, alongside structural reforms in education, service-sector barriers, and carbon neutrality efforts.
Policy & regulationInternational standards & recommendationsEconomic data and developmentsFinancial stability and systemic risk
-
2025-01-21•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chiyu Banking Corporation Limited. The HKMA reminded the public 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 Hong Kong Police Force.
SupervisionAlertsFraud and scams
-
2025-01-21•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and the Monetary Authority of Macao have launched a direct linkage between Hong Kong’s Central Moneymarkets Unit and Macao’s central securities depository. This connection aims to enhance bond market development by facilitating cross-border investment and financing between the two jurisdictions. It marks Macao's first bond market infrastructure connectivity with a central securities depository outside Macao.
Policy & regulationImplementation, projects & pilotsMarket infrastructureMarket development
-
2025-01-21•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye has released the 2025 schedule for actuarial exams across Levels 1 to 4, detailing exam dates, locations, and eligibility criteria. Level 1 exams will occur in Ankara and Istanbul, while Levels 2 to 4 will be held in Istanbul only. Eligibility varies by level, with specific educational and professional requirements outlined in the agency's published guide.
Policy & regulationImplementation, projects & pilotsOther
-
2025-01-21•Qatar•Qatar Central Bank
Qatar Central Bank Governor Sheikh Bandar bin Mohammed Saoud Al Thani met with Luma Group founder Joshua Fink at the World Economic Forum Annual Meeting 2025 in Davos to discuss key global financial developments.
Other
-
2025-01-21•Jordan•Jordan Securities Commission
The Jordan Securities Commission, at a regional ESG forum in Amman, emphasized integrating ESG considerations into capital markets, urging financial institutions to enhance sustainable financing and use green bonds. It detailed regulatory measures, including mandatory sustainability reporting for ASE20 index companies, aligned with Global Reporting Initiative standards and supported by a new Climate Change Information Disclosure Guide, with plans to adopt International Sustainability Standards Board standards.
Policy & regulationRules & requirementsClimate risk and sustainable finance
-
2025-01-21•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) has launched its 2025 Annual Inspection and Monitoring Programme (PAF) to supervise closed pension funds (EFPC) using a new "thematic supervision" tool. The programme aims for all EFPC to undergo inspection within seven years, with supervisory teams evaluating governance practices. Ongoing monitoring will use regulatory filings and cooperation with other financial entities, potentially leading to recommendations or infraction notices.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
-
2025-01-21•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals to pay a VND 1,000,000 fee for the re-issuance of securities practice certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
-
2025-01-21•Slovenia•Slovenia Securities Market Agency
The Slovenia Securities Market Agency has updated online user manuals under its e-legislation framework for the Investment Funds and Management Companies Act and the Alternative Investment Fund Managers Act. The manuals facilitate navigation from legislative provisions to related content, including EU materials and supervisory measures, and are intended for both directly affected entities and a wider professional audience.
Policy & regulationGuidance & interpretationRegulatory reporting
-
2025-01-21•Italy•Italian Institute for Insurance Supervision (IVASS)
IVASS's bulletin on motor insurance reported EUR 16.1 billion in 2023 premiums, with a 4.3% rise in motor third-party liability premiums. Claims frequency reached 5.0%, averaging EUR 5,000 per claim. Non-compulsory land vehicle own-damage cover premiums increased by 12%, despite a EUR 34 million segment loss. European Economic Area undertakings held a 13% market share, with traditional channels showing positive margins, unlike direct writers.
Data & statisticsActivity and performance reporting
-
2025-01-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) study on Resolution 30 found positive impacts on investor profiling but identified improvement areas. Based on CVM data, self-regulators, and a survey, it highlights gaps between suitability roles and investor perceptions, suggesting rule enhancements like risk-profile sharing and prohibiting intermediary interference. Despite more new investors, audits and complaints about unsuitable investments declined.
Policy & regulationOtherRegulatory burden
-
2025-01-21•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) inducted 44 new permanent staff members, marking its first institutional staffing reinforcement in over 14 years. These appointments follow the CVM 2024 public service exam, which aimed to fill 60 higher-education positions across Rio de Janeiro and São Paulo. Seven more candidates will join the São Paulo office on 23 January.
Institutional developmentWorkforce & recruitmentLicence approval
-
2025-01-21•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority issued a public warning to Sydney-based auditor Allan Facey for non-compliance with standard conditions of his New Zealand auditor’s licence during his role as Engagement Quality Control Reviewer for Alliant Perpetual. The FMA cited insufficient evidence of objective evaluation and delayed audit work recording, along with a failure to promptly notify the FMA of non-compliance with auditing standards.
SupervisionAlertsAuditing
-
2025-01-21•Serbia•National Bank of Serbia
The National Bank of Serbia is continuously monitoring banks' integration of climate-related risks into operations and risk management. Recent reviews indicate progress, with more banks incorporating climate risks, introducing green loan credit lines, and updating ESG strategies. The bank will persist in its oversight and adapt supervisory measures based on climate risk characteristics and local market specifics.
SupervisionRisk monitoring & watch pointsClimate risk and sustainable finance
-
2025-01-21•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia joined a virtual meeting under the Non-bank Financial Services Authority to review two draft Prakas affecting the real estate sector. The drafts propose a code of conduct for real estate developers and procedures for dispute resolution, linked to the Real Estate Business and Pawnshop Regulator. The session was chaired by Ros Seilava, Secretary of State at the Ministry of Economy and Finance and Vice Chairman of the FSA.
Policy & regulationCooperationOther
-
2025-01-21•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority outlined its 2025 supervisory priorities for UK deposit takers, focusing on governance, risk management, data quality, and operational resilience. Key areas include stress testing, credit risk reviews, model risk management, and readiness for sterling reserves access. The letter also notes a delay in UK Basel 3.1 implementation to 2027 and upcoming consultations on ICT and cyber risk management.
SupervisionSupervision approach, priorities & toolkitRisk managementPrudential risks
-
2025-01-21•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) outlined its 2025 supervisory priorities for international banks and investment firms in the UK, emphasizing governance, risk management, data quality, and operational resilience. Key areas include counterparty credit risk, commercial real estate exposures, and preparation for Bank of England balance sheet changes. The PRA delayed UK Basel 3.1 implementation to 2027 and plans consultations on the senior manager regime and ICT and cyber risk management.
SupervisionSupervision approach, priorities & toolkitOperational risk and resiliencePrudential risksOther
-
2025-01-21•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued a warning against 12 entities, including Signet Trade and Caldera Trade, for not being registered to deal in or advise on securities in Ontario. The OSC maintains a warning list and provides tools for investors to verify registration status.
SupervisionAlertsUnlicensed or unauthorized activity
-
2025-01-21•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission has enhanced its ESG Product Platform by adding detailed information on Sustainable and Responsible Investing Funds (SRI Funds). The platform categorizes SRI Funds by tax-benefit product types, including Retirement Mutual Funds, Super Savings Funds, and Thai ESG Funds, with updated data on assets under management and fund offerings. Future updates will further classify Thai ESG Funds investing in stocks of companies with disclosed corporate value-up plans.
Policy & regulationImplementation, projects & pilotsESG
-
2025-01-21•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has extended NR Instant Produce Public Company Limited's deadline to submit and disclose its rectified Q3 2024 interim financial statements to 10 February 2025. This follows the auditor's qualified opinions due to insufficient evidence on fair value measurement of certain shares, prompting NRF to appoint an independent advisor for valuation. The auditor needs more time to review the valuation report and revised statements.
SupervisionRegulatory reportingAuditing
-
2025-01-21•Europe•European Association of CCP Clearing Houses
The European Association of CCP Clearing Houses published an interview with Laura Bayley, CEO of SIX x-clear AG, discussing leadership development and future industry trends. Bayley emphasizes the importance of assertiveness, conflict resolution, and work-life balance, while predicting shorter settlement cycles and expansion into new asset classes. She foresees consolidation among European CCPs and advocates for increased diversity in leadership and clearing teams.
OtherLeadership change and appointments
-
2025-01-21•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's branches in Bac Ninh and Tuyen Quang held conferences to review 2024 performance and outline the 2025 work programme, emphasizing credit direction to priority sectors while controlling risks. Bac Ninh reported a 19.5% increase in total outstanding credit to VND 195.1 trillion by end-2024, with a non-performing loan ratio of 0.6%. Tuyen Quang saw a 14.1% rise in deposit mobilisation and a 19.9% increase in credit, maintaining a non-performing loan ratio of 0.5%.
Policy & regulationImplementation, projects & pilotsOther
-
2025-01-21•Namibia•Bank of Namibia
The Bank of Namibia has issued the Dr Hage Gottfried Geingob Commemorative Banknote as legal tender, honoring the late former President of Namibia. This issuance is under the authority of Section 38(1) of the Bank of Namibia Act 2020, which allows the central bank to release commemorative banknotes and coins.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
-
2025-01-21•Kenya•National Treasury (Kenya)
Kenya's National Treasury conducted a consultative meeting in Kisii with the public from Kisii, Migori, Homabay, and Nyamira counties on the draft National Policy for Virtual Assets and Virtual Asset Service Providers. The policy aims to foster a fair, competitive, and stable market while enhancing understanding of virtual asset types, gaps, and challenges.
Policy & regulationReform agendas & priorities
-
2025-01-21•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation, under Acting Chairman Travis Hill, outlined an agenda focusing on regulatory reviews, fintech partnerships, and digital assets. Key priorities include revising merger policies, enhancing resolution preparedness, and addressing technology costs for community banks. The FDIC also aims to modernize the Bank Secrecy Act, improve internal efficiencies, and reinforce workforce accountability.
Policy & regulationReform agendas & prioritiesRegulatory burdenSupervision process and methodologies
-
2025-01-21•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), effective immediately. The FDIC stated that the NGFS's work does not align with its authorities and mandate.
Policy & regulationCooperationClimate risk and sustainable finance
-
2025-01-21•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) announced that 11 payment processing service providers can continue cross-border operations after committing to comply with Chapter III.J.2 of the Central Bank of Chile’s Compendium of Financial Standards. This decision is linked to transitional provisions amended in July 2024. CMF's draft regulation aligning with the III.J series is under consultation, with full compliance required by December 2025.
Policy & regulationRules & requirementsLicence approval
-
2025-01-21•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Acting Chairman Caroline D. Pham announced a strategic shift as the agency nears its 50th anniversary, emphasizing a return to its core mandate of promoting market integrity and liquidity in commodity derivatives markets. Pham, a CFTC Commissioner since April 2022, also highlighted the importance of derivatives markets for American commercial end-users and acknowledged former Chairman Rostin Behnam's contributions.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-01-21•United States•U.S. Securities & Exchange Commission
President Donald J. Trump has designated Mark T. Uyeda as Acting Chairman of the U.S. Securities and Exchange Commission. Uyeda, an SEC Commissioner since June 2022, has extensive experience within the SEC and other governmental bodies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-01-21•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) has formed a Crypto Task Force to improve crypto asset regulation, led by Commissioner Hester Peirce. The Task Force will work with SEC staff and the public to clarify regulatory boundaries, develop disclosure frameworks, and coordinate with other federal and international agencies. Richard Gabbert and Taylor Asher have been appointed as Chief of Staff and Chief Policy Advisor, respectively.
Policy & regulationImplementation, projects & pilots
-
2025-01-21•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration and the Ministry of Veterans Affairs have launched a "veterans entrepreneurship loan" programme to support veterans' entrepreneurship and innovation. It directs banks to tailor loan amounts and terms based on veterans' needs, using military merit awards for preferential consideration. The programme emphasizes efficient loan processing, risk management, and enhancing veterans' financial awareness.
Policy & regulationImplementation, projects & pilotsSME financing
-
2025-01-21•Moldova•National Bank of Moldova
The National Bank of Moldova and the Economic Press Club held a workshop to improve media understanding of its statistics and data usage. Led by Deputy Governor Petru Rotaru, it covered the methodology and significance of the bank's outputs, including new financial accounts and external debt statistics, aligning with EU standards amid Moldova's EU accession efforts. Workshop presentations are available for viewing.
Financial literacy & educationOther
-
2025-01-21•Moldova•National Bank of Moldova
The National Bank of Moldova released December 2024 data on licensed banks' foreign currency assets and liabilities, showing total assets at MDL 51.55bn and liabilities at MDL 51.51bn. The aggregate open foreign exchange position revealed gross long positions of MDL 299.50m and gross short positions of MDL 258.52m, with significant positions in euros and US dollars. The data is compiled under the bank's regulation on open currency positions and converted into USD using end-month exchange rates.
Data & statisticsBalance of payments and other external statistics
-
2025-01-21•Moldova•National Bank of Moldova
The National Bank of Moldova released its December 2024 statistics on the domestic cash foreign exchange market, reporting a total turnover of USD 455.3 million. The euro dominated with USD 308.0 million, followed by the US dollar at USD 97.5 million. Total turnover rose 18.7% from the previous month and 10.5% year-on-year.
Data & statisticsCurrency and cash management
-
2025-01-21•Moldova•National Bank of Moldova
The National Bank of Moldova reported that in December 2024, net foreign currency supply from individuals covered 69.9% of economic agents’ demand, up from 48.3% in November. The central bank intervened by selling USD 55.9 million in the interbank market. The average USD/MDL exchange rate rose by 1.6% to 18.3569, with the euro comprising 53.4% of individuals’ net FX supply.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
-
2025-01-21•Macao•Monetary Authority of Macao
The Monetary Authority of Macao, in collaboration with the Hong Kong Monetary Authority, launched a direct network linking the Macao Central Securities Depository with Hong Kong’s Central Moneymarkets Unit. This connection, a first for Macao’s bond market infrastructure, aims to enhance international investor participation. On its first day, the link facilitated the settlement of four Macao-issued securities totaling MOP 3.2 billion.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
-
2025-01-21•Macao•Monetary Authority of Macao
The Monetary Authority of Macao (AMCM) supported the 2024 Macao bond market contribution awards, recognizing 24 institutions for their roles in market development. Recent infrastructure and regulatory updates include the launch of a central securities depository, a new legal regime for bond issuance, and a renminbi settlement module. AMCM plans to advance legislative work on a Securities Law and promote integration with the Hong Kong bond market.
OtherMarket development
-
2025-01-21•Macao•Monetary Authority of Macao
The Hong Kong Monetary Authority and the Monetary Authority of Macao have launched a direct network link between Hong Kong’s Central Moneymarkets Unit and Macao’s Central Securities Depository. This interconnection facilitates cross-border financing and investment, enhancing investor access to both bond markets. It marks Macao's first connection with an overseas central securities depository, broadening access for international investors, including those from Portuguese-speaking countries.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
-
2025-01-21•Switzerland•Federal Department of Finance (Switzerland)
Switzerland's Federal Department of Finance released a thesis-discussion paper outlining a Pathway 2035 vision for a secure, autonomous, and efficient financial system. The paper emphasizes cross-sector collaboration as crucial for developing resilient and inclusive finance, drawing on the Bank for International Settlements’ “Finternet” concept.
Policy & regulationReform agendas & prioritiesFintech and insurtechFinancial stability and systemic risk
-
2025-01-21•Argentina•Central Bank of Argentina
Argentina's Central Bank Vice President, Vladimir Werning, detailed "Stage 3" of the economic programme at the BBVA Latin America Conference, emphasizing internal stability and external flexibility. Priorities include exiting exchange controls, implementing "monetary competition," and maintaining positive real interest rates. The presentation highlighted fiscal, monetary, and exchange rate policies that have shifted inflation dynamics and supported economic growth, with reserves aligning with targets despite fewer IMF disbursements.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
-
2025-01-21•South Korea•Bank of Korea
The Bank of Korea's preliminary Producer Price Index (PPI) for December 2024 indicates a 0.3% month-on-month and 1.7% year-on-year increase. For the entire year, the PPI rose 1.7% year-on-year, with notable monthly increases in agricultural, forestry, and marine products at 2.8%, and manufacturing products at 0.3%.
Data & statisticsEconomic data and developments
-
2025-01-21•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported Q4 2024 data showing growth in spillover-effect insurance products, with new contracts rising 6% and first-year premium income increasing 34% to TWD 27,748.63 million. In contrast, in-kind payment insurance products saw a 7% decline in new contracts and a 52% drop in first-year premium income to TWD 1,736.70 million.
Data & statisticsSales and distribution
-
2025-01-21•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that life insurers generated approximately TWD 280.458 billion in premium revenues from new foreign-currency denominated policies in November 2024, marking a 15% increase year-on-year. Investment-linked products accounted for TWD 42.506 billion, down 29%, while traditional products reached TWD 237.952 billion, up 29%.
Data & statisticsFinancial and market indicators
-
2025-01-20•Italy•Ministry of Finance (Italy)
Italy’s Ministry of Finance announced that Minister Giancarlo Giorgetti attended the Eurogroup meeting in Brussels, focusing on euro area priorities and the digital euro. Giorgetti also met with German Finance Minister Jörg Kukies to discuss simplification, competitiveness, and shared economic and financial prospects.
Policy & regulationCooperationCross-border cooperation
-
2025-01-20•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye has ceased the opening and renewal of FX- and gold-converted FX-protected deposit accounts with six-month and 12-month maturities. This move is part of its strategy to phase out FX-protected deposit (KKM) accounts.
Policy & regulationRules & requirementsForeign exchange policy and markets
-
2025-01-20•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) updated its report on costs in second and third pillar pension products, indicating stable charges by financial institutions. The FSMA is scrutinizing insurance companies with the highest-cost pension products to ensure compliance with "value for money" regulations, as high costs can notably diminish returns.
SupervisionRisk monitoring & watch points
-
2025-01-20•India•Reserve Bank of India
The Reserve Bank of India revised its framework for Asset Reconstruction Companies (ARCs) to improve borrower dues settlements. ARCs must now follow a Board-approved settlement policy, ensuring settlements occur only after evaluating all recovery options. Key provisions include valuation expectations, lump sum payments, and oversight by an Independent Advisory Committee for settlements above INR 1 crore, with enhanced governance for fraud or wilful default cases.
Policy & regulationRules & requirementsAsset quality
-
2025-01-20•Greece•Bank of Greece
The Bank of Greece reported a November 2024 current account deficit of EUR 3.2 billion, a slight year-on-year improvement, while the January–November deficit widened to EUR 11.5 billion. The monthly improvement was driven by a wider services surplus and stronger primary income, despite a larger goods deficit. Reserve assets increased to EUR 14.6 billion by the end of November 2024.
Data & statisticsBalance of payments and other external statistics
-
2025-01-20•Ukraine•National Bank of Ukraine
The National Bank of Ukraine updated its Strategy, "Financial Fortress," to support its wartime mandate and recovery, adding 11 indicators and 17 measures. Priorities include enhancing price stability, financial stability, EU financial market integration, tighter cyber resilience oversight, and virtual asset regulation. The Strategy emphasizes ESG policy development, financial inclusion, and digital transformation, focusing on adapting to evolving conditions.
Policy & regulationReform agendas & prioritiesOther
-
2025-01-20•France•France Autorite des marches financiers
France's Autorité des marchés financiers published a report summarizing 2023 data on crowdfunding investment advisers and service providers, highlighting key activity indicators.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-01-20•France•France Autorite des marches financiers
The French Financial Markets Authority released an analysis of France's real estate crowdfunding market, using data from the top 10 platforms by funds raised. The report includes indicators on sector allocation, outstanding amounts, and performance statistics as of Q1 2024.
ResearchCrowdfunding
-
2025-01-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) is consulting on remaking and consolidating two employee incentive scheme (EIS) class orders set to sunset on 1 April 2025, proposing a single legislative instrument to extend existing exemptions for five years. New offers under the EIS class orders have been halted since 1 March 2023, but ASIC acknowledges the need for relief to complete issuances under legacy schemes. The proposed remake would largely maintain current exemptions but restrict some to 'underlying eligible products' like shares, rather than 'overlying eligible products' such as options or incentive rights.
Policy & regulationRules & requirementsOther
-
2025-01-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission and the Australian Prudential Regulation Authority released a public note summarizing two joint Superannuation CEO Roundtables held in late 2024, which addressed key climate risk issues. The discussions included 14 superannuation CEOs from across the industry.
Policy & regulationCooperationClimate risk and sustainable finance
-
2025-01-20•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank (DNB) and Across The Isles (ATI) have ended their cooperation on the "Across the Seas" project in Bonaire, pausing a planned financial contribution. DNB still plans a one-off contribution to raise historical awareness of slavery's legacy, part of a broader initiative following its 2022 apology, which includes a EUR 5 million fund for local initiatives and another EUR 5 million for educational and heritage projects.
Policy & regulationCooperationOther
-
2025-01-20•Peru•Central Bank of Peru
The Central Bank of Peru reported a record 12-month trade surplus of USD 23,050 million as of November 2024. November exports rose 18.7% year on year to USD 7,039 million, driven by higher metal prices and increased export volumes, while imports grew 15.0% to USD 4,615 million, resulting in a monthly surplus of USD 2,424 million. From January to November, exports totaled USD 68,183 million and imports USD 47,380 million, yielding a cumulative surplus of USD 20,803 million.
Data & statisticsBalance of payments and other external statistics
-
2025-01-20•Andorra•Andorran Financial Authority
Moody's Ratings maintained Andorra's rating at Baa1 following the 2024 reviews, highlighting strong public finances, solid institutions, and low public debt. The report also noted enhanced financial supervision, economic diversification, low unemployment, and a business-friendly environment.
ResearchCredit ratings
-
2025-01-20•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica introduced a new bimetallic CRC 500 coin to commemorate the 200th anniversary of the Annexation of the Partido de Nicoya, with the previous design ceasing to be legal tender on 1 July 2025. The new coin features a latent image security feature and design elements reflecting Costa Rican heritage. The outgoing gold-coloured CRC 500 coin must be exchanged or deposited at financial institutions starting 1 July 2025.
Monetary policyOtherCurrency and cash management
-
2025-01-20•Algeria•Algeria Market Authority (COSOB)
COSOB has published Instruction No. 24-09 of Nov. 27, 2024, on the annual report concerning the framework for preventing and combating money laundering, terrorist financing and proliferation financing.
Policy & regulationGuidance & interpretationAML and CFT
-
2025-01-20•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority has published Instruction No. 24-10 dated December 31, 2024, on the methods for placing stock exchange orders.
Policy & regulationGuidance & interpretationTrading
-
2025-01-20•Georgia•National Bank of Georgia
The National Bank of Georgia released the January editions of its Current Macroeconomic Review and Financial Sector Review, updating them with the latest monetary statistics methodology. These reports aim to enhance public access to analytical data and support economic analysis.
ResearchEconomic data and developmentsMonetary data
-
2025-01-20•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance announced that Finance Minister Arvils Ašeradens will attend Eurogroup and ECOFIN meetings in Brussels on 20–21 January. Discussions will focus on euro area priorities for 2024–2029, the Polish Presidency’s work programme, and innovations in wholesale payments and the digital euro. ECOFIN will also address EU competitiveness, green financing, energy prices, EU defence capabilities, and financial support for Ukraine.
Policy & regulationReform agendas & prioritiesEconomic data and developments
-
2025-01-20•Indonesia•Bank Indonesia
Bank of Indonesia's Q4 2024 Banking Survey reports accelerated growth in new loan disbursements, with the Weighted Net Balance rising to 97.9% from 80.6%. Investment and working capital loans drove this growth, with expectations for continued strength in Q1 2025. Lending standards are anticipated to remain tight, with optimism for credit growth through end-2025 supported by a favorable economic outlook and perceived low credit risk.
Data & statisticsFinancial and market indicatorsMonetary data