The Bank of France calls for deeper capital markets, consolidated infrastructure and further IPO reform to narrow the EU’s structural listing gap with the United States. The United States recorded 374 IPOs in 2025 against 55 in the EU, although regulatory differences and transfers of European primary listings explain little of the disparity. Proposed measures include pan-European investment funds, less fragmented market infrastructure and targeted relief for newly listed scale-ups.

A Bank for International Settlements paper finds that AI could aid climate mitigation and adaptation while increasing electricity demand, emissions and resource use. Its net climate effect remains uncertain and could influence central bank assessments of potential output, inflation and financial stability. The paper highlights the need for better environmental measurement, more efficient AI systems and sustainable energy infrastructure.

The European Securities and Markets Authority expects authorised crypto-asset service providers to stop all EU client services involving non-MiCA-compliant stablecoins and prevent new or increased exposures. National authorities should require legacy exposures to be remediated within three months, allowing only tightly supervised services needed for an orderly wind-down.

EIOPA is consulting on an outcomes-focused approach to supervising insurance-based investment product sales and pre-contractual disclosures. Supervisors would target weaknesses that materially impair consumer understanding or decision-making, rather than treating additional information and procedural steps as inherently beneficial. The statement would operate within existing requirements and is expected to be finalized in the first quarter of 2027.

Swift has named a 15-member Supervisory Board under a new two-tier governance model. The board will oversee management and guide strategy on tokenized assets, cross-border transactions, emerging technology and operational resilience. It is supported by a Management Board and a 25-member Swift Council.

The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has clarified the limited exemptions from the Stop-credit loan self-exclusion service, including specified supplier payments, internal refinancing and payments of taxes, fines or enforcement debts. Pawnshop microcredits are excluded, while institutions that breach an active restriction must write off the debt, correct the borrower’s credit history and refund amounts collected.

A Bank of Korea study using a new panel of 2.06 million households finds that interest rate risk is concentrated among highly leveraged homebuyers, whose delinquency probability rises by 0.81 percentage points under a 1 percentage point rate increase. It also finds strong transmission of delinquency within households. Debt repayments constrained consumption for an estimated 11.1% of indebted households in 2025, with low-income households particularly exposed.

The Slovenia Insurance Supervision Agency has set expectations for effective and evidence-based product governance by insurers and other manufacturers of insurance-based investment products. Manufacturers must define target markets, test products before marketing, align distribution and monitor consumer outcomes throughout the product life cycle. They must also demonstrate value relative to costs, risks, benefits and insurance coverage, backed by a verifiable evidence trail.

Hong Kong's securities, accounting and listing regulators set detailed expectations for issuers, audit committees and auditors after going concern audit disclaimers rose from 12 in 2017 to 95 in 2025. They require stronger assessments, oversight, audit work and entity-specific progress disclosures. The Stock Exchange may consider mandatory suspension for affected issuers if no significant improvement occurs.

The Swiss Financial Market Supervisory Authority has revised its digital onboarding rules to accommodate Switzerland’s forthcoming e-ID and strengthen online identification safeguards. The changes introduce liveness detection, permit reliable digital residence verification and recognize QR-coded identity documents, effective Nov. 1, 2026.

European Central Bank analysis finds that private equity buyouts raise demand for suppliers, whose sales and employment were around 8% and 4% higher, respectively, in Belgian data. These gains disappeared during downturns as supplier markups fell by about 8%, while shared suppliers transmitted adverse effects to competitors. High leverage may also strengthen monetary policy transmission through supply chains.

Armenia's Ministry of Finance presented a new AI tool for monitoring public sector organizations’ financial statements at a World Bank program workshop. The event also examined AI applications in accounting, financial management information systems and developments in international reporting standards.