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2026-05-21•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance has completed 25 of 39 measures in its foreign exchange and capital market roadmap for potential MSCI developed market index inclusion, with over 70% implementation expected in the first half of the year. It finalized reforms to the Registered Foreign Institution regime to simplify registration and reporting and improve KRW operational account usability. Recent steps include Korea Securities Depository changes allowing fund-by-fund settlement under nominee structures, acceptance of Legal Entity Identifier documents for foreign corporate account opening, and removal of trading hour limits on Eurex and FTSE KOSPI futures. Ongoing projects include a 24-hour domestic FX market pilot and an offshore KRW settlement network. The ministry also reviewed amendments to the Foreign Exchange Transactions Act to create a framework for monitoring cross-border virtual asset transfers by requiring virtual asset businesses to register and report transfers via the Bank of Korea’s FX system for sharing with tax, customs, supervisory and financial intelligence authorities.
Policy & regulationImplementation, projects & pilotsForeign exchange policy and markets
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2026-05-21•South Korea•South Korea Financial Supervisory Service
South Korea’s Financial Supervisory Service published its 2025 review of domestic banks’ overseas businesses, reporting continued network expansion, higher earnings and stable localization scores. Overseas assets rose 7.4% year on year to USD233.13 billion, net income increased 2.3% to USD1.651 billion and the substandard-or-below loan ratio improved to 1.36%, though asset quality remained weaker in ASEAN. Asia accounted for 67.3% of overseas operations, loans were the largest asset class at USD126.78 billion and return on assets was 0.71%.
SupervisionRisk monitoring & watch pointsCross-border payments
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2026-05-21•Indonesia•OJK
The Indonesia Financial Services Authority reported that Regional Development Banks remained solid through March 2026 and confirmed continued implementation of the 2024-2027 Strengthening Roadmap. It highlighted asset growth to IDR 1,036.51 trillion, a capital adequacy ratio of 26.19 percent, stable asset quality, and capital strengthening via consolidation and minimum core capital rules. OJK will oversee roadmap implementation and push banks to expand lending to productive and emerging sectors, including the green economy and regional downstream industries.
Policy & regulationImplementation, projects & pilotsMarket development
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2026-05-21•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has issued Edition 8 of its Systemic Issues Insights Report, outlining systemic issues and examples of stronger practice across the financial services sector in the first half of the 2025-2026 financial year. AFCA reports that more than 180,000 consumers and small businesses benefited from its systemic work, including AUD 1.9 million in financial remediation and non-financial outcomes such as credit file corrections, improved claims handling and operational reforms for vulnerable customers.
ResearchConsumer and investor protection
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2026-05-21•Uzbekistan•Ministry of Finance (Republic of Uzbekistan)
The Ministry of Finance of the Republic of Uzbekistan held a meeting with entrepreneurs to review business challenges and practical proposals, focusing on expanding construction materials exports and improving financing for new product lines. Participants discussed increasing the wagon fleet and transport capacity, broadening working capital, and attracting concessional bank credit, with issues referred to relevant ministries and agencies for action.
Policy & regulationReform agendas & prioritiesMarket development
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2026-05-21•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic’s Pensions Superintendency (SIPEN) outlined a pension reform option under discussion that would grant contributors with at least 15 years of contributions a guaranteed, inflation-adjusted lifetime pension as a minimum floor, while stressing that no decision has been taken. Superintendent Francisco A. Torres noted that the current 30-year contribution benchmark is rarely met due to labour informality and said authorities are also evaluating allowing those below 15 years to buy additional contribution periods.
Policy & regulationReform agendas & priorities
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2026-05-21•France•France Autorite des marches financiers
The France Autorité des marchés financiers has clarified on its GECO database that alternative investment funds may be marketed in France only to professional investors. It notes that European Long-Term Investment Funds (ELTIF), European Venture Capital Funds (EuVECA) and European Social Entrepreneurship Funds (EuSEF) may also be marketed to other investors, subject to the conditions in their respective regulations.
Policy & regulationGuidance & interpretationOther
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2026-05-21•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that Chief Executive Samantha Barrass will not seek reappointment when her five-year term ends in January 2027, citing emerging family needs in the UK. The board will begin recruiting a successor and noted that Barrass will remain in post to support a smooth transition after overseeing implementation of the Conduct of Financial Institutions regime and preparations for the authority’s new credit regulation role.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-21•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) has signed a cooperation agreement with Associação Soluções Inclusivas Sustentáveis to deliver a technical course on integrating environmental, social and governance criteria into investments, to strengthen supervision in the closed supplementary pension sector and application of PREVIC Resolution 26/2025. The 30-hour online programme for officials from PREVIC, the Ministry of Social Security and the Ministry of Finance will cover socioenvironmental and climate risk management, ESG-related financial products, sustainability reporting and global standards including IFRS S1 and IFRS S2.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable financeESG
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2026-05-21•Global•Financial Stability Board
The Financial Stability Board’s Regional Consultative Group for the Americas met in Grand Cayman to review global and regional financial vulnerabilities and the FSB’s 2026 work priorities. Members discussed operational resilience, including cyber risks, cross-border payments action plans, regulatory and supervisory modernisation, and nonbank activity in sovereign bond markets and related data challenges.
Policy & regulationReform agendas & prioritiesCross-border cooperationOperational risk and resilience
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2026-05-21•Belgium•National Bank of Belgium
The National Bank of Belgium’s Financial Stability Report concludes that Belgian banks and insurers remain resilient and adjusts macroprudential capital requirements as mortgage risks ease amid international uncertainty. From 1 July 2026, the countercyclical capital buffer will rise to EUR 3.3 billion and the EUR 1.3 billion mortgage risk buffer will be abolished, reducing total macroprudential capital requirements to EUR 3.3 billion. The NBB maintained its prudential expectations for new Belgian mortgage loans, citing improved credit quality, while warning that commercial real estate and indirect effects from geopolitical and trade tensions still warrant vigilance.
Policy & regulationRules & requirementsFinancial stability and systemic riskMacroprudential policy and tools
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2026-05-21•Global•International Monetary Fund
The International Monetary Fund approved the third review of Haiti’s Staff-Monitored Program and extended it through 19 June 2027, noting that all end-December 2025 targets were met despite severe security, humanitarian and political strains. The program focuses on macroeconomic stabilisation, governance and anti-corruption reforms, stronger reserve management and risk-based bank supervision, and a shift toward grant financing to contain fiscal risks. Under its fragile and conflict-affected states strategy, the IMF will work with Haiti’s development partners to support governance and institutional capacity.
Policy & regulationImplementation, projects & pilotsEconomic data and developmentsFinancial stability and systemic risk
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2026-05-21•Global•International Monetary Fund
The IMF Executive Board completed the second review of Argentina’s 48‑month Extended Fund Facility and the 2026 Article IV consultation, enabling an immediate disbursement of about USD 1 billion and bringing total disbursements to USD 15.8 billion of the USD 21 billion approved. The Board found implementation broadly strong despite missing the end‑December net international reserves target, endorsed fiscal consolidation toward an overall cash balance in 2026, and called for reserve rebuilding, greater exchange rate flexibility, monetary and supervisory reforms, and continued structural reforms, while noting elevated external and domestic risks and the importance of contingency planning.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2026-05-21•Global•International Monetary Fund
The IMF Executive Board concluded its annual review of common policies in the West African Economic and Monetary Union, noting strong growth, lower inflation, narrower imbalances, and higher reserves. Directors welcomed the Central Bank of West African States’ rate cuts but called for sustained fiscal consolidation, stronger domestic revenue mobilization, greater fiscal and debt transparency, and data‑dependent monetary policy given elevated debt, financing, and financial stability risks.
Policy & regulationInternational standards & recommendationsEconomic data and developments
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2026-05-21•Global•International Monetary Fund
The International Monetary Fund staff reached a staff-level agreement with Togo on the combined third and fourth reviews of its Extended Credit Facility, which, subject to Executive Board approval, would unlock SDR 80.74 million (about USD 110.8 million) and bring total disbursements to SDR 220.2 million (about USD 302.2 million). IMF staff assessed implementation as broadly satisfactory, citing strong quantitative and structural performance, improved public financial management and fiscal transparency, and achievement of social and pro-poor spending targets, while stressing the need to address banking sector vulnerabilities, energy-sector state-owned enterprises, and governance and business environment reforms.
Policy & regulationImplementation, projects & pilotsEconomic data and developments
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2026-05-21•Global•Egmont Group
The Egmont Group, speaking at a Wolfsberg Forum discussion, said public-private partnerships between Financial Intelligence Units and the private sector are central to combating increasingly complex, cross-border financial crime. It highlighted priorities including clear legal frameworks and trusted information sharing, two-way value with actionable insights for firms, measurable operational outcomes, and technology use grounded in governance and real use cases, and confirmed it will continue supporting Financial Intelligence Units in strengthening these models.
Policy & regulationReform agendas & prioritiesAML and CFTCross-border cooperation
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2026-05-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has commenced civil penalty proceedings in the Federal Court against Equity Trustees Superannuation Limited, alleging it failed to exercise due care and act in members’ best financial interests when allowing NQ Super & Pension members to invest over AUD 65 million in the First Guardian Master Fund. ASIC claims Equity Trustees approved three First Guardian classes without key documents and allowed members to invest 100% of their balances despite evidence the fund was or may have been illiquid. The case is part of ASIC’s 2026 enforcement priority into the collapse of First Guardian and related funds and is its second action against Equity Trustees and fifth against a super trustee.
EnforcementInvestigations & enforcement actionsCorporate governance
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2026-05-21•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has published Digital Finance Cooperative Research Centre findings on financial and regulatory technology, concluding Australia is well placed to benefit from continued financial innovation and that artificial intelligence is becoming embedded in routine financial activities. ASIC said the findings will inform its strategy to support responsible innovation, including engagement through the ASIC Digital Finance Advisory Panel and roundtables, and will reinforce its focus on safe innovation and simpler, principles-based regulation.
ResearchFintech and insurtechRegulatory burden
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2026-05-21•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senate Banking Committee Ranking Member Elizabeth Warren has urged the Federal Reserve, Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation to revoke a Section 23A exemption granted to Morgan Stanley. She argues it improperly allows taxpayer-backed deposits to support risky European activities, undermines the public interest test, and heightens risks to bank safety, the federal safety net and the Deposit Insurance Fund, warning that failure to reverse it could later require divestiture.
Policy & regulationRules & requirementsPrudential risks
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2026-05-21•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority’s latest System Risk Outlook finds Australia’s financial system remains resilient, with banks and insurers well capitalised and liquid, but notes intensified oversight and higher expectations for risk management amid geopolitical tensions, rapid artificial intelligence adoption and more complex global market linkages. APRA highlights AI governance and cyber resilience as central supervisory priorities, citing an April 2026 industry letter that set minimum expectations for board literacy, AI strategy, lifecycle accountability, supplier visibility, security testing and continuous monitoring. The report also notes that domestic private credit exposures remain contained at about AUD 200 billion, or 3 per cent of the banking system, but warns of growing offshore risks through international private market holdings and banks’ funds finance activities.
SupervisionRisk monitoring & watch pointsRisk analysis and outlookFinancial stability and systemic risk
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2026-05-21•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has revoked Eric Insurance Limited’s authorisation to carry on insurance business in Australia under the Insurance Act 1973, completing its exit from the general insurance market. The revocation followed a request from Eric’s deed administrators and reflects that, following execution of the deed of company arrangement, Eric had no remaining insurance liabilities.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-05-21•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission and the Financial Information Unit will continue a joint working group to identify capital markets risks, focusing on obliged entities and virtual asset service providers, and to detect illicit activity without unnecessary burdens on legitimate business. The update confirms cooperation on information exchange, anti-money laundering prevention, virtual asset service provider regulation, and joint training and outreach, with the Financial Information Unit’s new head calling for clearer criteria and an updated risk-based approach.
SupervisionCooperationDomestic cooperation
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2026-05-21•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs is advancing digital asset market structure and stablecoin legislation as part of its affordability agenda, with Chairman Tim Scott emphasizing consumer protection and lower-cost, faster transactions. Scott highlighted bipartisan engagement and identified rewards, ethics, quorum, decentralized finance and anti-money laundering as key points of debate, arguing that stablecoin legislation could expand access to financial tools, increase demand for U.S. Treasuries and support the U.S. dollar’s reserve currency role.
Policy & regulationReform agendas & priorities
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2026-05-21•South Korea•Bank of Korea
The Bank of Korea reported that the preliminary Producer Price Index for April 2026 rose 2.5% month on month and 6.9% year on year, driven mainly by a 4.4% increase in manufacturing products, while agricultural, forestry and marine products fell 1.0%. The Domestic Supply Price Index increased 5.2% on the month and 9.9% on the year, and the Total Output Price Index rose 3.9% on the month and 13.8% on the year, with strong gains in coal, petroleum products and raw materials. All three indexes are preliminary and may be revised.
Data & statisticsEconomic data and developments
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2026-05-20•Japan•Japan Securities and Exchange Surveillance Commission
The Japan Securities and Exchange Surveillance Commission has proposed partial amendments to the Basic Guidelines on Securities Monitoring, which govern onsite monitoring by the commission and the Finance Bureau. The draft would expand the scope of inspection notices for advance-notice inspections and clarify that there is no fixed sequence for receiving opinions, including via questionnaires, in monitoring.
Policy & regulationRules & requirementsOther
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2026-05-20•Japan•Bank of Japan
The Bank of Japan’s May 2026 Bond Market Survey reports improved but still sub-neutral functioning in the secondary Japanese government bond market, with the overall diffusion index rising to -16 from -26 and the three-month change index turning positive to 12. Liquidity and execution indicators strengthened unevenly, while surveyed institutions expect a gradual rise in yields, forecasting newly issued 10-year JGBs at 2.50% by end-June 2026 and 2.77% by end-March 2029.
Data & statisticsFinancial and market indicators
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2026-05-20•Japan•Bank of Japan
The Bank of Japan will revise its real exports and imports from the April 2026 release, introducing more granular classifications (31 export and 28 import items) and refining the correspondence between goods and deflators to reduce biases from large price swings in items such as semiconductors and gold. Data prior to 2000 will be recalculated using the previous eight-group method’s month-on-month changes, and real exports by region and goods will now be released at 4:00 p.m. one business day after the Ministry of Finance’s provisional Trade Statistics. The Bank will discontinue the real trade balance series.
Data & statisticsEconomic data and developments
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2026-05-20•Japan•Bank of Japan
The Bank of Japan has published first quarter 2026 data on Loans and Bills Discounted by Sector and Loans to Households on its Time-Series Data Search. It has also revised selected data for the third quarter of 2024 through the fourth quarter of 2025 on outstanding and new fixed investment loans, fixed investment loans by enterprise scale, borrower numbers, and household consumer loans for domestically licensed banks and shinkin banks.
Data & statisticsMonetary data
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2026-05-20•Europe•European Parliament
The European Parliament’s 20 May plenary agenda includes a debate on barriers to the single market with Commission President Ursula von der Leyen and on improving certainty for EU businesses. MEPs will also discuss alternative funding for the next long-term EU budget, including levies on online gambling, digital services and crypto asset capital gains, and an extension of the carbon border adjustment mechanism. The session features new legislation to strengthen victims’ rights, a vote on a draft resolution on the rule of law in Slovakia, a press conference on tariff aspects of the August 2025 Turnberry EU-US deal, and debates on labour, human rights and competitiveness.
Policy & regulationReform agendas & prioritiesOther
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2026-05-20•Mexico•Ministry of Finance & Public Credit (Mexico)
Mexico’s Ministry of Finance and Public Credit reported that a Florida state court in Miami entered judgment for Mexico in a civil asset recovery case tied to an illicit public procurement scheme involving former Public Security Secretary Genaro García Luna. The court ordered members of the Weinberg family and related companies to pay USD 578.5 million, with assets in multiple jurisdictions to be surrendered and liquidated under oversight of the Financial Intelligence Unit and other authorities. Combined with earlier judgments against García Luna and his spouse, total awards to Mexico in this scheme now exceed USD 3.067 billion.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2026-05-20•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority has suspended real estate licensee Afsaneh Zarshenas (also known as Afsi Dashti) for six months and ordered her to pay CAD 9,235.28 in enforcement expenses for failing to cooperate with an investigation, deeming this professional misconduct. The investigation concerns complaints that she obtained investor funds for purported high-return short-term loans and mortgages, then stopped interest payments and did not return principal, but these allegations remain unproven and under investigation. Her licence is already suspended under a 2025 consent order until she pays a CAD 50,000 discipline penalty, with the new suspension to begin once that is lifted.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-20•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services announced House passage of an amended 21st Century ROAD to Housing Act, revising the Senate bill to restore community banking provisions while preserving measures to streamline housing development, improve affordability, encourage new construction, update HUD programs, and remove regulatory barriers. The committee said the amendments address concerns from House members and market participants and aim to deliver a more balanced, bipartisan housing reform package focused on expanding housing supply and reducing regulatory frictions.
Policy & regulationRules & requirementsOther
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2026-05-20•United States•U.S. Financial Services Committee
The U.S. Financial Services Committee reported House passage of four bills covering a 9/11 commemorative coin program and measures to expand community bank access to deposits and de novo charters. The coin bill would authorize the Secretary of the Treasury to mint coins supporting the National September 11 Memorial and Museum, while the banking bills would raise reciprocal deposit limits, broaden eligibility for community banks, and require federal banking and credit union regulators to streamline de novo application processes for smaller lenders.
Policy & regulationRules & requirementsOther
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2026-05-20•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Capital Markets Subcommittee held a hearing on whether existing equity market structure rules, including Regulation National Market System and Rule 611, remain fit for purpose. Subcommittee Chair Anne Wagner questioned if long-standing Securities and Exchange Commission rules still promote competition, innovation and investor outcomes amid zero-commission trading, increased retail participation and complex order routing, and welcomed SEC Chairman Atkins’ broader review.
Policy & regulationReform agendas & priorities
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2026-05-20•Global•International Monetary Fund
The International Monetary Fund concluded a staff visit to Pakistan after discussions on economic developments, reform implementation, and the fiscal year 2027 budget strategy. Authorities reaffirmed a primary surplus target of 2 percent of GDP and plans for gradual fiscal consolidation through broader taxation, stronger tax administration, more efficient spending, and improved public financial management. The State Bank of Pakistan reiterated its commitment to tight monetary policy and exchange rate flexibility. The mission also reviewed reforms in the energy sector, state-owned enterprises, product markets, the financial sector, and progress under the Resilience and Sustainability Facility.
Policy & regulationPeer reviews and country evaluationsOther
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board published a research note finding that slower population and trend labor force growth, which have pushed breakeven monthly employment growth near zero, do not systematically make labor markets more sensitive to recessions. Evidence from U.S. states and OECD economies shows no clear link between low population growth and higher unemployment volatility or deeper downturns, though the note stresses these results are descriptive and that factors such as the source and speed of population changes may still matter.
ResearchEconomic data and developments
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2026-05-20•St. Vincent & the Grenadines•St. Vincent & the Grenadines Financial Services Authority
The St. Vincent and the Grenadines Financial Services Authority has warned that Nova-Dox LLC is not registered, licensed, or authorised to conduct virtual asset business in or from St. Vincent and the Grenadines. The authority noted that Nova-Dox LLC was cancelled on 31 December 2023, has no legal status in the jurisdiction, is not registered under the Virtual Asset Business Act, No. 9 of 2022, and that any claims of authorisation in St. Vincent and the Grenadines are false and misleading.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-05-20•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank Executive Board member Olaf Sleijpen urged the Dutch government to improve conditions for entrepreneurship to safeguard the Netherlands’ long-term earning capacity. He highlighted domestic bottlenecks including the nitrogen crisis, electricity grid constraints, housing shortages, labour market pressures and weak productivity, alongside external risks such as trade conflicts, instability, war and climate change, and said a substantial policy agenda remains despite cabinet plans.
Other
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Financial Services Users published results of its 2025 supervision of five Sociedades Financieras Populares on transparency and information quality for minors’ savings accounts, finding two fully compliant institutions and one partially compliant after remediation, with the average score rising from 4.8 to 7.9. The review identified deficiencies in contracts, websites, account statements and advertising, including missing required terms, unregistered commissions and incomplete disclosure of Protection Fund coverage, and stressed that remediation does not exempt institutions from sanctions or other measures.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services published results of its 2025 transparency supervision of four Popular Financial Societies offering Current Account Credit, finding only two achieved partial compliance despite average scores improving from 2.1 to 7.1. The review identified deficiencies in contracts, account statements, cover sheets and websites, including missing key product terms, incomplete disclosure of amounts due, and inconsistencies with the Registry of Commissions, and noted that remediation does not preclude sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protectionDisclosures
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2026-05-20•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published its 2025 financial transparency review of five Popular Financial Societies (SOFIPOs) offering Crédito Refaccionario loans, finding all only partially compliant after a two-stage supervisory process. Average scores improved from 4.3 to 8.0, but CONDUSEF identified persistent deficiencies in contracts, disclosure of Total Annual Cost (CAT), amortization tables, account statements, websites and advertising, which may result in sanctions.
SupervisionReviews, inspections & stress testsConsumer and investor protectionDisclosures
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board requested comment on a proposal to create a new payment account that legally eligible financial institutions could use solely to clear and settle payments through Federal Reserve payment services, without intraday credit, discount window access or interest on balances. The proposal refines a December 2025 prototype by linking closing balance limits to expected payment activity, raising the maximum closing balance, and encouraging Reserve Banks to temporarily pause access decisions for Tier 3 institutions.
Policy & regulationRules & requirementsCBDC
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2026-05-20•United States•National Futures Association
The National Futures Association has imposed an emergency Member and Associate Responsibility Action on Vespula Capital Management LLC and its principal Joel Kirkham Johnson after finding reason to believe approximately USD 2 million of VCM Strategic Opportunity Fund LP assets were dissipated through transfers to related entities. The action, which does not suspend or expel the firm or Johnson, bars new solicitations, restricts fund disbursements and transfers without prior NFA approval, and limits trading to liquidations until NFA completes its review.
EnforcementInvestigations & enforcement actionsOperational risk and resilience
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2026-05-20•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission, together with the Bank of Thailand and the Office of Insurance Commission, has launched the third class of the Responsible Voices for Finfluencers Project to promote responsible finance, investment and insurance content on social media. The class provides training on compliant financial communications, case studies of potentially non-compliant posts, and engagement with social media platforms, with 28 pages or channels representing 35 individuals selected from 60 applicants.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2026-05-20•Brazil•Central Bank of Brazil
The Central Bank of Brazil has expanded the coverage of its Regional Economic Activity Index (IBCR) to four additional states, bringing the total to 17 states plus the five Brazilian regions. The expansion follows improved state-level primary data availability, enabling broader monitoring of regional economic conditions. The central bank will also release its annual Regional Bulletin for 2025 in May, including a section on the new states and a methodological revision.
Data & statisticsEconomic data and developments
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2026-05-20•Israel•Bank of Israel
The Bank of Israel reported a 0.2 percent decline in its monthly Index of Economic Activity in April, indicating growth below the long-term trend of about 0.3 percent. The fall mainly reflected weaker domestic demand and labour market indicators, partly offset by stronger goods exports, imports and financial market data. The Bank also revised the index down for the previous three months following new data and a further downward revision to fourth quarter 2025 growth.
Data & statisticsEconomic data and developments
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2026-05-20•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission revoked Mount Peak Securities’ broker-dealer registration and imposed PHP 17.25 million in penalties for 12 regulatory violations, including misuse of client accounts, false records and capital breaches. Two company officers also lost their licenses and were permanently disqualified from registration. Mount Peak has appealed the decision to the Commission En Banc.
EnforcementInvestigations & enforcement actionsComplianceCapital adequacyConsumer and investor protection
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2026-05-20•Nigeria•Central Bank of Nigeria
Central Bank of Nigeria’s Monetary Policy Committee on 20 May kept the Monetary Policy Rate at 26.5 %, leaving the ±50/–450 bp corridor and cash-reserve ratios unchanged, after a cumulative 100 bp cut since September 2025. It said April’s food-driven uptick in headline inflation to 15.69 % is temporary and that robust reserves and prior reforms support a cautious, data-dependent path to renewed disinflation.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•Ghana•Bank of Ghana
Bank of Ghana kept its policy rate unchanged at 14.0 % on 20 May 2026, judging inflation-growth risks as balanced after 750 bp of cuts since September 2025 amid headline inflation of 3.4 % in April and solid activity. The central bank will replace the dynamic cash reserve ratio with a uniform 20 % requirement for domestic-currency deposits from 4 June 2026 to bolster liquidity management.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-20•United States•The White House
The White House announced new sanctions on Cuba’s military and intelligence apparatus and on those providing it with material and financial support, as part of a broader effort to cut off financial lifelines to regimes in Central and South America that it says fund transnational criminal and terrorist operations. The sanctions aim to deprive the Cuban regime and its elites of resources and profits, and reiterated that the United States will not tolerate Cuba hosting hostile foreign military, intelligence, and terror operations near US territory.
EnforcementSanctions & designationsOther
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2026-05-20•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela held a working meeting with the Caracas Stock Exchange and the National Chamber of Securities Market Intermediaries to discuss joint measures to strengthen the domestic capital market, with a focus on supporting productive activities. The central bank also reported ongoing engagement with executives from public and private banks.
Policy & regulationCooperationMarket developmentDomestic cooperation
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2026-05-20•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission reported that exchange-traded fund assets have tripled since 2019 and continue to drive securities market innovation. After fund sponsors agreed to delay the effectiveness of several novel ETFs, including event contract ETFs, SEC staff has been instructed to seek public input on how the Commission should respond to recent market changes.
Policy & regulationOtherMarket development
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2026-05-20•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority installed new commission members for four-year terms and renewed two existing mandates. The commission comprises a president and six members and is responsible for reviewing cases and taking decisions under the applicable legal and regulatory framework.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-20•United States•Federal Reserve Board
The Federal Reserve Board published a speech by Governor Michael S. Barr urging that financial inclusion be assessed by customer outcomes rather than access, and highlighting banks’ growing use of transaction data, behavioral science and artificial intelligence to measure and improve financial health. He cited Federal Reserve survey evidence of persistent financial vulnerability despite high account ownership, and noted both the benefits of financial health metrics and challenges around standardization, data privacy and methodological rigor.
Policy & regulationGuidance & interpretationFinancial inclusionFinancial literacy and education
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2026-05-20•Global•Financial Markets Standards Board
The Financial Markets Standards Board has issued a final Statement of Good Practice on Grey Market Trading, providing a framework for assessing when conditional trading of securities before they are free to trade is appropriate. The guidance sets out four good practice statements covering issuer awareness, management of conflicts of interest and information asymmetries, control frameworks for syndicate banks, and public announcements by active bookrunners when new issuances become free to trade.
Policy & regulationGuidance & interpretationTrading
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2026-05-20•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported that March 2026 terms of trade rose 32.4 percent year-on-year, as export prices increased 38.7 percent and import prices 4.8 percent. Export price gains were led by gold, copper and fishmeal, while higher petroleum and petroleum product prices lifted import prices. On a monthly basis, terms of trade fell 2.4 percent, mainly due to higher oil prices.
Data & statisticsBalance of payments and other external statistics
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2026-05-20•Global•Egmont Group
The Egmont Group reported on its participation in the No Money for Terror Conference in Paris, where discussions focused on evolving terrorist financing risks, links to organised crime and the need for secure, timely cooperation between Financial Intelligence Units. It highlighted a Tracfin-led session to strengthen public-private partnerships and reiterated the central role of Financial Intelligence Units in detecting suspicious patterns, tracing illicit flows and identifying cross-border connections through secure information exchange, supported by Egmont’s information sharing and capacity building.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2026-05-20•Europe•European Systemic Risk Board
The European Systemic Risk Board has launched a call for expressions of interest from international macroprudential and systemic risk experts to join its Advisory Scientific Committee for renewable four-year mandates starting by May 2027. Appointments by the General Board will be based on candidates’ competence and experience across academia and other sectors, with employees of institutions represented on the General Board ineligible and non-selected candidates placed on a two-year reserve list.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2026-05-20•Canada•Payments Canada
Payments Canada has appointed Deana Djurdjevic as Chief of Staff, effective 25 May 2026, to act as strategic adviser to the President and CEO and the executive leadership team and to help translate complex initiatives into actionable outcomes for the organisation’s long-term agenda. She brings over 25 years of financial services and regulatory leadership experience, including senior roles at the Ontario Securities Commission, TMX Group and the Financial Services Regulatory Authority.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-05-20•Global•Ceres
Ceres’ 2026 Progress Report on climate risk reporting in the U.S. insurance sector finds broader participation in standardized climate reporting has not produced decision-useful disclosure, with only 10.5% of 77 assessed Task Force on Climate-related Financial Disclosures datapoints fully met despite 83.2% of insurers addressing all four pillars. The review highlights persistent gaps in Metrics and Targets, including 81.9% of datapoints rated not found and 91% of carriers not disclosing indirect emissions, while Risk Management remains the strongest pillar and only six carriers fully met at least half the datapoints.
ResearchClimate risk and sustainable financeESG
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2026-05-20•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority is expanding cooperation with universities and institutes to link academic study with practical application and raise youth awareness of the non bank financial sector as part of its financial literacy work. It plans to broaden youth-focused events, field visits and workshops across governorates and reported strong student interest in its fintech regulatory sandbox for testing digital financial solutions.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Global•Bank for International Settlements
The Basel Committee on Banking Supervision will publish a report on observed ICT risk management practices for non-malicious incidents and advanced its review of the prudential standard for banks’ cryptoasset exposures. It will also assess whether to update its Principles for Sound Liquidity Risk Management and Supervision, finalise machine-readable Pillar 3 disclosures, consult on the treatment of cross-border exposures within the European banking union in the global systemically important bank framework, and deepen analytical work on banks’ management of physical risks from extreme weather events and the role of insurance.
Policy & regulationInternational standards & recommendationsCyber resiliencePrudential risks
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2026-05-20•Albania•Bank of Albania
The Bank of Albania reported that the Resolution Fund rose by ALL 1.18 billion in April 2026 to ALL 8.22 billion following the annual bank contributions, marking the ninth year of funding since its establishment in 2018. The fund is required under Albania’s bank recovery and resolution law to reach ALL 9.4 billion, or 0.5% of banking system liabilities, by 2027 and is managed by the Deposit Insurance Agency under a Bank of Albania-approved asset management policy.
Policy & regulationImplementation, projects & pilots
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2026-05-20•Panama•Panama Superintendencia del Mercado de Valores
The Panama Superintendency of the Securities Market issued Resolution SMV-202-26 appointing a new liquidator for PLUS CAPITAL MARKET INC. The appointment is made under the consolidated text of Decree Law No. 1 of 8 July 1999.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 bank cash desk statistics showing that cash disbursements exceeded cash receipts by MDL 776 million, with receipts of MDL 15,261 million and disbursements of MDL 16,037 million. Receipts from sales of consumer goods were the main inflow at MDL 9,344 million, or 61.2 percent of total receipts, and the figures include transactions in commemorative coins.
Data & statisticsCurrency and cash management
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova’s April 2026 monetary statistics show the monetary base rose 0.4 percent month-on-month to MDL 83,752 million, while broad money M3 declined 0.4 percent to MDL 195,428 million. Outstanding bank deposits fell 1.1 percent to MDL 143,309 million, driven by a 6.3 percent drop in foreign currency deposits partly offset by a 1.6 percent increase in national currency deposits, while claims on the economy rose 1.3 percent to MDL 111,981 million, with national currency claims up 2.0 percent and foreign currency claims down 1.0 percent.
Data & statisticsMonetary data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 lending statistics showing banks extended MDL 7.299 billion in new loans, with 65.1 percent to businesses and 34.9 percent to individuals, mostly denominated in MDL for individuals. The data, including tables on loan volumes and nominal interest rates, are based on banks’ reporting under Instruction No. 331/2016, with minor rounding differences in aggregated figures.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova published April 2026 banking data showing new deposits of MDL 25,792 million, with businesses accounting for 68.1% and individuals 31.9%, confirming corporate deposits as the main funding source. The data indicate that term deposits in Moldovan leu represented 69.7% of total term deposits, and include detailed volumes and nominal interest rates by sector and currency based on banks’ interest rate reporting.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-20•Moldova•National Bank of Moldova
The National Bank of Moldova reported that Governor Anca Dragu awarded certificates to participants in the Modern Finance School programme, which it runs with the National Bank of Romania and the Bucharest University of Economic Studies. The initiative trains economics and journalism students to deliver financial education in rural communities and produce explanatory economic journalism, and has operated since 2023.
Financial literacy & educationFinancial literacy and education
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2026-05-20•Canada•Canadian Securities Administrators
The Canadian Securities Administrators will livestream a Toronto tokenization workshop, “Powering Growth and Competitiveness,” as part of Project Tokenization to gather input on tokenization in capital markets, including use cases, legal issues, friction with current securities laws and potential areas for regulatory guidance. The project will use stakeholder engagement and targeted research to assess opportunities and risks, with possible subsequent phases including a discussion paper or live testing of tokenized financial instruments within the CSA Collaboratory.
Policy & regulationImplementation, projects & pilotsTokenization
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2026-05-20•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the Senate has passed a bipartisan housing bill intended to address unaffordable housing costs. Chairman Tim Scott and Ranking Member Elizabeth Warren said they will continue working with the White House and the House on housing legislation that can pass the Senate and reach the President.
Policy & regulationRules & requirementsOther
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2026-05-20•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority has approved Alkhabeer Capital’s request to delist the Al-Khabeer Growth and Income Traded Fund, subject to unitholder approval. The fund manager will publish the delisting timetable, after which trading in the fund’s units will be suspended and the units removed from the Saudi Exchange if unitholders agree. The authority clarified that its approval only confirms compliance with the Capital Market Law and Implementing Regulations and does not constitute an investment recommendation.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-20•Iceland•Ministry of Finance and Economic Affairs (Iceland)
Iceland's Ministry of Finance and Economic Affairs launched tripartite talks with the Icelandic Confederation of Labour and the Confederation of Icelandic Enterprise to preserve assumptions underpinning collective agreements in the general labour market in autumn 2026 and curb inflation. A steering group and three subgroups will analyse the impact of interest rates, inflation, indexation and automatic price changes on social groups, strengthen wage statistics, and assess potential effects of the war in the Persian Gulf on domestic prices, with interim findings presented to the National Economic Council.
Policy & regulationCooperation
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2026-05-20•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury’s Office of Foreign Assets Control designated more than a dozen individuals and entities in two networks linked to the Sinaloa Cartel’s fentanyl trafficking, targeting bulk cash-to-cryptocurrency conversion, drug trafficking, and related money laundering. The designations, under Executive Orders 14059 and 13224, block all U.S. property and interests in property of listed persons, prohibit U.S. persons from dealing with them, and extend to entities they own 50 percent or more. Treasury also warned that foreign financial institutions that knowingly facilitate significant transactions for persons designated under Executive Order 13224 may face restrictions on U.S. correspondent or payable-through accounts.
EnforcementSanctions & designationsNew sanctions designations
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2026-05-20•India•Reserve Bank of India
The Reserve Bank of India has issued revised draft amendment directions for a second public consultation on loan recovery practices and the use of recovery agents by banks and non-bank lenders. The drafts update responsible business conduct requirements for a wide range of regulated entities and reflect changes to key provisions of the February 12, 2026 draft, including on the use of technology-based mechanisms to restrict functions of financed mobile devices in default.
Policy & regulationRules & requirementsLending
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2026-05-20•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on bank–FinTech partnerships, with Chairman Bryan Steil highlighting these arrangements as drivers of innovation, consumer choice, and access to financial services. Steil emphasized pairing FinTechs’ technological capabilities with banks’ compliance and consumer protections, and argued regulators should not constrain innovation solely because products or technologies are new.
Policy & regulationReform agendas & prioritiesFintech and insurtech
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2026-05-20•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Royal Canadian Mounted Police Federal Policing Central Region has charged eight individuals in a cyber-enabled fraud targeting the Canada Emergency Response Benefit program, involving stolen identities, unauthorized access to taxpayer accounts and redirected payments totaling about CAD 364,000. The case stems from a joint investigation into an attack on the Canada Revenue Agency online portal, with charges including fraud over CAD 5,000 and possession of identity information with intent to commit an indictable offence, supported by the Financial Transactions and Reports Analysis Centre of Canada and the Canada Revenue Agency.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-20•United Kingdom•HM Treasury
HM Treasury has introduced a Financial Services and Markets Bill to reshape UK financial services regulation by strengthening consumer protections, expanding access to credit unions and reducing regulatory overlap. The bill would modernise redress, simplify terms and conditions, reform the Financial Ombudsman Service, widen credit union membership, transfer Payment Systems Regulator responsibilities to the FCA and cut Senior Managers and Certification Regime administrative burdens by 50 percent. It would also update the ring-fencing framework to support lending and investment and, subject to review, give the Government power to protect face-to-face banking where communities rely on it.
Policy & regulationRules & requirementsRegulatory burdenConsumer and investor protection
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2026-05-20•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority fined Pictet Overseas Inc. USD 610,000 and Blue Ocean ATS USD 550,000 for AML and supervisory failures in low-priced securities trading. FINRA found both firms lacked controls reasonably designed to detect and report suspicious activity, and ordered Blue Ocean to certify that it remediated its AML deficiencies. Pictet's case also included failures involving foreign financial institution account due diligence, trade reporting, trade confirmations and Securities Act supervision.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-20•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance reported on the Egmont Group Committee meeting in Kraków, where Finance and Economy Minister Andrzej Domański urged faster international cooperation and information exchange between Financial Intelligence Units to combat financial crime, including risks from new technologies, rapid cross-border transfers and virtual assets. Discussions focused on strengthening FIU cooperation and analytical capabilities, leveraging new technologies and improving the effectiveness of the global anti-money laundering and countering the financing of terrorism system, with Poland highlighting its FIU’s longstanding role and current chairmanship in the Egmont Group.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2026-05-20•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance announced that the Council of Ministers has adopted a draft bill to change how fees payable to the Polish Financial Supervision Authority are collected and allocated, requiring payment at the time of application rather than after proceedings conclude. The reform seeks to shorten case handling, improve application quality, reduce unpaid fees, and reallocates certain supervisory costs in acquisition and risk management proceedings to initiating entities instead of the wider financial sector.
Policy & regulationRules & requirementsLicensing framework and process
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2026-05-20•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Office of Pension Normalization and the Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru have approved governance guidelines for the Secure and Transparent Affiliation Platform (PAST), a single virtual platform to centralize processes for choosing, joining and switching between the National Pension System and the Private Pension System. The guidelines establish a co-governance framework under which both authorities jointly set PAST’s strategic direction and oversee its development and monitoring, with a focus on neutrality, secure identity validation, data protection, interoperability and traceability of user decisions.
Policy & regulationGuidance & interpretationOther
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2026-05-20•Germany•BaFin
The Federal Financial Supervisory Authority (BaFin) has published a document containing the German Banking Industry’s statement in response to Consultation 04/2026.
Policy & regulationOther
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2026-05-20•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority clarified that, in their current domestic form and use, stablecoins are not classified as “virtual assets” under the Virtual Asset Service Providers Act and therefore fall outside its licensing scope. The Authority noted that most observed stablecoins function as digital representations of fiat value rather than speculative virtual assets, but warned that activities such as exchange, broking, custody or investment advice involving stablecoins may still require a VASP licence and highlighted related counterparty, reserve, redemption, foreign regulatory, cybersecurity and operational risks.
Policy & regulationGuidance & interpretationStablecoins
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2026-05-20•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles has launched a public expression of interest to create a pool of potential Non-Executive Board Directors for future appointments, marking the first use of its Non-Executive Director Recruitment Policy. The list will support timely filling of vacancies, including two current Non-Executive Director seats, with candidates required to hold an advanced degree in specified fields, have at least eight years of professional experience including five in senior leadership, and meet eligibility criteria under the Central Bank Act.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2026-05-20•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) published its 2025 transparency supervision results for three Popular Financial Companies (SOFIPOs) offering revolving credit linked to a credit card, finding only partial compliance despite an average score improvement from 4.0 to 8.2. CONDUSEF identified breaches including unregistered commissions, non-prominent interest rates, missing or incomplete Total Annual Cost (CAT), minimum payment and statement information, and inconsistent disclosures in contracts, receipts, websites and advertising, and noted that remediation does not exempt the firms from sanctions.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-20•Global•International Monetary Fund
The International Monetary Fund has published a staff report on Zimbabwe’s request for a Staff Monitored Program, noting that recent macroeconomic stabilization has created a window to consolidate progress and advance reforms. The report highlights that Zimbabwe has been in debt default and largely excluded from international capital markets for over 25 years, and reviews improvements in inflation, growth and the current account alongside ongoing challenges in arrears, currency and foreign exchange markets, external debt, fiscal risks, public financial management and financial markets.
ResearchOther
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2026-05-20•Global•International Monetary Fund
The International Monetary Fund reached a staff-level agreement with Moldova on a new 36‑month Policy Coordination Instrument, a non-financing arrangement to support macroeconomic stability, stronger policy frameworks and structural reforms linked to EU accession. The program responds to a renewed energy shock that is slowing growth and raising inflation, and targets a fiscal deficit of 3.5 percent of GDP by 2029 through tax and public finance reforms, plus measures to strengthen macroprudential policy, financial sector oversight, financial integrity and economic statistics. The agreement is subject to IMF Executive Board approval.
Policy & regulationImplementation, projects & pilotsOther
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2026-05-20•Italy•Bank of Italy
The Bank of Italy has simplified its framework for remunerating excess reserves in line with the European Central Bank Governing Council’s December 2025 decision. From 17 June 2026, excess reserves held by monetary policy counterparties with access to the deposit facility, above minimum reserve requirements, will be remunerated at the deposit facility rate.
Policy & regulationRules & requirements
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2026-05-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted new reporting rules for investment firms, amended disclosure procedures for managers’ transactions, advanced draft changes to issuer and guarantor disclosure, and approved a reorganization that terminates the State Institution Agency for Development of Stock Market Infrastructure of Ukraine and revises its 2026 structure and staffing. It also updated the list of sanctioned client and depositor assets at Freedom Finance Ukraine LLC, registered multiple share and bond issues, confirmed several entities’ compliance with Cabinet of Ministers Resolution No 76, and approved senior appointments at professional market participants.
Policy & regulationRules & requirementsMandate change
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2026-05-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market met World Bank representatives to review key capital market reform initiatives. Discussions focused on Ukraine’s accession to the International Organization of Securities Commissions, draft legislation on securitisation and investment funds, and reform of the funded pension system, including current progress, challenges and next steps.
Policy & regulationCooperationCross-border cooperation
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2026-05-20•Russia•Central Bank of Russia
The Central Bank of Russia has issued a consultation paper proposing tougher credit concentration rules, including revising the N6 and N21 ratios from 1 January 2028 by applying a 100% risk weight to all corporate borrowers and using effective concentration ratios instead of introducing a new N30 ratio. The measures, which will apply to all banks, aim to prevent concentrated lending from shifting to smaller institutions, allow gradual reduction of elevated concentrations, introduce a new contribution to the compulsory deposit insurance fund for groups of related borrowers above 25% of capital, and permit the use of credit default swaps and credit digital financial assets to redistribute exposures.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2026-05-20•Russia•Central Bank of Russia
The Central Bank of Russia reported that its spring Coin Week in April 2026 returned 55 million coins to circulation, with a total value of nearly RUB 252 million, RUB 7 million more than in the previous autumn campaign. Coins were exchanged at banks, stores and certain suburban railway ticket offices, with ruble coins accounting for 86.7% of the total and kopeck coins 13.3%.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-05-20•Ukraine•National Bank of Ukraine
The National Bank of Ukraine published a recap of its sixth annual online workshop on monetary policy in emerging markets, highlighting how financial system structures and behaviour shape monetary transmission under extreme uncertainty. The workshop stressed the need to prioritise long term price and macrofinancial stability, strengthen crisis communication, and improve diagnostics of transmission across sectors and regions, including by better integrating the financial sector into analytical models. The NBU linked these themes to its 2023 interest rate operational changes and lending support measures, which it said have strengthened transmission, contained inflation and supported lending growth for a third consecutive year.
ResearchMonetary policy decisions and developments
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2026-05-20•United Kingdom•The Pensions Regulator
The Pensions Regulator has published an artificial intelligence plan setting expectations for how pension trustees and scheme managers should govern AI use, emphasising that accountability for outcomes remains with them even where activities are delegated or AI-supported. Pending fuller guidance, schemes should establish clear AI governance, test and monitor systems, review risks and controls, strengthen data and data protection, and protect members from AI-enabled fraud, while TPR aligns with the Financial Conduct Authority and expands its own AI use.
Policy & regulationGuidance & interpretationArtificial intelligenceConsumer and investor protection
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2026-05-20•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has proposed rules requiring firms that report credit data under Riksbank regulations to submit additional credit information to Statistics Sweden for inclusion in the shared financial market monitoring database. The authority aims to simplify reporting, achieve efficiency gains, and improve the analytical and supervisory basis.
Policy & regulationRules & requirementsRegulatory reporting
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2026-05-20•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority has issued a new Ordinance on the Risk Diversification of Banks and Securities Firms, elevating existing circulars on intra-group positions and risk diversification into binding ordinance form with limited changes. The ordinance sets rules on connected counterparties, foreign group exposures, trading book position calculations and small-bank reliefs, and introduces transitional arrangements for Basel III market risk approaches, extended weighting relief for category 4 and 5 banks, and clarifications on central counterparties, foreign group guarantees and residential property financing.
Policy & regulationRules & requirementsCapital adequacy
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2026-05-20•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority ordered Pictet Overseas Inc. to pay USD 610,000 and Blue Ocean ATS USD 550,000, totaling USD 1.16 million, for anti-money laundering and supervisory failures involving low-priced securities. FINRA found both firms lacked AML programs reasonably designed to detect and report suspicious activity, citing Pictet’s ineffective monitoring of substantial low-priced securities trading and deficient supervision, and Blue Ocean’s manual surveillance that failed to address spoofing, layering or other manipulative patterns.
EnforcementInvestigations & enforcement actionsAML and CFT
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2026-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of Tajikistan reported a meeting with the Swiss State Secretariat for Economic Affairs on financial sector development and continued technical cooperation, including financial inclusion, digital services, banking supervision and structural reforms. Joint projects with Switzerland have strengthened financial infrastructure, supported the National Financial Inclusion Strategy 2022-2026 and expanded digital and non-cash payments, while Tajikistan’s economy and banking system remain stable with growing use of electronic payment instruments.
Policy & regulationCooperationDomestic cooperation
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2026-05-20•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan published results of its 20 May 2026 foreign exchange intervention purchase auction, which attracted eight participants. The auction satisfied bids between USD 600,000 and USD 5.755 million at a weighted average rate of 9.3191 USD/TJS.
Monetary policyMonetary policy instruments & operationsOther