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2026-05-07•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator has issued a technical note detailing the methodology for calculating quarterly indices used to update sums insured under fire, natural elements and home multi-risk insurance policies covering housing risks. It explains the composition and weightings of the Building Index, the Home Contents Index and the combined index, based on labour and construction cost indices, consumer price indices and the EUR price of gold published by national authorities.
Policy & regulationGuidance & interpretationOther
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2026-05-07•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority has published findings from a review of 15 audit firms on how they identify and handle risks of economic crime and fraud, highlighting a gap between formal policies and their application in individual engagements. While International Standard on Auditing 240 and 315 are well known, firms were found to inadequately address specific fraud risks such as management override of controls, make limited and poorly documented use of unpredictability in audit procedures, and provide weak documentation linking business understanding, fraud risk assessments and control testing.
SupervisionReviews, inspections & stress testsAuditing
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2026-05-07•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has published a thematic review of 15 audit firms’ work on identifying and managing the risk of economic crime and fraud, finding a significant gap between firm-level policies and their execution in individual audits. Across 73 high-risk engagements, the authority identified weaknesses in addressing management override, use of unpredictability, control testing, and documentation of fraud risk assessments, alongside low levels of fraud-related reporting and consultation.
SupervisionReviews, inspections & stress testsAuditing
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2026-05-07•Mozambique•Ministry of Finance (Mozambique)
The Mozambique Ministry of Finance told Parliament it is coordinating with the national financial system to ensure foreign currency availability for external payments, prioritising fuel-related invoices and guarantees, plus food and medicine imports. The government has made available the counterpart of the state's net international reserves to meet state-owned enterprises’ external payment needs, keeping banks’ foreign exchange transactions with the public at about USD 3.5 billion in the first quarter of 2026, broadly in line with the five-year average of around USD 3.3 billion.
Policy & regulationImplementation, projects & pilotsBalance of payments and other external statistics
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2026-05-07•Mozambique•Ministry of Finance (Mozambique)
Mozambique’s Ministry of Finance reported that State Secretary for Treasury and Budget Amílcar Tivane, speaking at Banco Letsego’s 15th anniversary, highlighted the bank’s role in expanding financial inclusion, particularly in rural areas, and modernising banking services. Banco Letsego, which opened in 2011 and reached financial break-even in its first year, now operates 13 branches with over 500 sales agents and around 170 employees, and its acting chair said it will continue expanding secure, accessible services for public and private sector workers and micro and small enterprises.
OtherFinancial inclusion
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2026-05-07•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority suspended trading in VGP financial instruments (ISIN BE0003878957) on Euronext Brussels at the company’s request. The suspension took effect from 11:27 CET on 7 May 2026 and will remain in place until the publication of a press release.
SupervisionInterventionsTrading
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2026-05-07•Czech Republic•Czech National Bank
Czech National Bank kept the two-week repo rate at 3.50 %, the discount rate at 2.50 % and the Lombard rate at 4.50 % without economic commentary or guidance. Rates have been unchanged since a 25 bp cut in May 2025, with further remarks deferred to the forthcoming press conference.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Jordan•Jordan Securities Commission
The Jordan Securities Commission’s Board of Commissioners has approved the first tranche of Bandar Islamic Finance Company’s restricted mudaraba sukuk, valued at JOD 10 million and tradable on the Amman Stock Exchange. The issuance is described as the second private sector sukuk of its kind and forms part of a multi-tranche plan totaling JOD 100 million.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-07•Jordan•Jordan Securities Commission
The Jordan Securities Commission reported that its chairman, Imad Abuhaltem, attended a meeting of the Insolvency Trustees Committee chaired by the Minister of Industry, Trade and Supply. At the meeting, a group of insolvency trustees took the legal oath, the minister underscored the profession’s role in supporting financially distressed economic activities, and the committee decided several matters related to its work.
Policy & regulationCooperationOther
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2026-05-07•Albania•Bank of Albania
The Bank of Albania reported that Second Deputy Governor Natasha Ahmetaj used the Annual Economic and Financial Dialogue in Brussels to outline its assessment of conditions and risks for small open economies such as Albania, highlighting geopolitical developments and conflicts as key threats to macroeconomic stability via energy prices and inflation expectations. She noted Albania’s stable macroeconomic indicators, including contained inflation and a sound banking sector, and underscored the importance of flexible policies and international coordination to mitigate uncertainty.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2026-05-07•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has approved three companies to conduct non-bank financial activities in healthcare program administration, reinsurance brokerage, and investment fund subscriptions. It authorised the establishment of Fawry Healthcare - Trimed as the first Third Party Administrator under Unified Insurance Law No. 155 of 2024, licensed Misr Reinsurance Brokerage, and authorised Horizon Securities and Bonds Trading to receive subscriptions for investment fund units.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-07•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority held an expanded meeting with Egyptian actuaries and set plans to deepen cooperation, raise qualification standards and update the regulatory and professional framework for actuarial work in the non-bank financial sector. The authority highlighted collaboration with the Society of Actuaries and academic institutions, new postgraduate programs, and Decision No. 56 of 2026 governing actuarial activity, in response to rising demand under Unified Insurance Law No. 155 of 2024 and shortages of qualified actuaries.
Policy & regulationCooperationCapacity building
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2026-05-07•Global•OECD
The OECD’s 2026 Economic Survey of New Zealand projects a gradual recovery, with real GDP growth of 1.4% in 2026 and 2.3% in 2027 and inflation easing from 3.4% to 2.4%. It urges keeping inflation expectations anchored, preserving the Reserve Bank of New Zealand’s operational independence and continuing fiscal consolidation. The survey highlights high electricity costs, ageing-related fiscal pressures, shallow capital markets and weak productivity, and recommends energy market reforms, stronger digital health regulation, and capital market deepening via KiwiSaver and pension tax changes, expanded venture funding and an SME loan securitisation platform. It notes resilient banks but calls for ongoing macroprudential vigilance, banking competition reforms such as open banking, and pension and New Zealand Super Fund reforms, including linking public pension eligibility to life expectancy to address ageing costs projected to rise by about 5% of GDP by 2060.
Policy & regulationPeer reviews and country evaluations
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2026-05-07•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has withdrawn the Investor Risk Reduction Access platform for stock brokers with immediate effect, citing redundancy given strengthened business continuity, cyber resilience and technical controls, and the availability of stock exchanges’ contingency pool trading facility. Introduced in December 2022 and operational since October 2023, the platform was never accessed by brokers; the new circular supersedes the December 2022 circular and allows exchanges to further strengthen the contingency pool trading framework.
Policy & regulationRules & requirementsOperational risk and resilience
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2026-05-07•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore has outlined the Securities and Futures Amendment Bill to enable concurrent listings on Singapore Exchange and eligible overseas exchanges, initially supporting the planned Global Listing Board link with Nasdaq. The Bill would introduce a new Part 13A to set criteria for dual listing partnerships, allow modification of selected offer and market misconduct provisions where overseas markets meet IOSCO standards, and align prospectus, timeline and safe harbour arrangements with U.S. requirements. It would also permit retail investor engagement using preliminary prospectuses subject to safeguards and clarify that, for depositary receipt offerings, the issuer of the underlying shares must lodge the prospectus.
Policy & regulationRules & requirementsSecurities offerings and listings
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2026-05-07•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau (Hong Kong) reported that Secretary Christopher Hui met the Central Bank of Uzbekistan, the Tashkent Stock Exchange and a senior presidential adviser in Tashkent to explore financial collaboration focused on gold, Hong Kong fundraising for Uzbek issuers and a Comprehensive Avoidance of Double Taxation Agreement. Hui highlighted Hong Kong’s plans for an internationally aligned gold trading market with a central clearing system targeted for trial in 2026, expanded gold storage capacity above 2,000 tonnes within three years, and invited Uzbek companies to list and issue equity and bonds in Hong Kong.
Policy & regulationCooperationCross-border cooperation
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2026-05-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has launched the Cargo x Pilot Programme with 21 banks to test using cargo and trade data via the Commercial Data Interchange to support trade finance digitalisation and improve financing access for Hong Kong SMEs. The pilots implement recommendations under the Data, Infrastructure and Connectivity pillars of the Project Cargo x Recommendation Report, with 2026–2027 projects focused on linking to key cargo and trade data platforms, combining trade and cash flow data for multi-dimensional credit assessment, adopting Digital Corporate Identity for trusted data sharing, and enhancing connectivity with major trade corridors.
Policy & regulationImplementation, projects & pilots
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2026-05-07•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported that Hong Kong’s official foreign currency reserve assets rose to USD 442.1 billion at end-April 2026 from USD 430.8 billion at end-March, with no unsettled foreign exchange contracts versus USD 0.3 billion previously. The reserves represented more than five times the currency in circulation and about 38% of Hong Kong dollar M3, as part of regular Exchange Fund data disclosures under the International Monetary Fund’s Special Data Dissemination Standard.
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Albania•Bank of Albania
The Bank of Albania reported Deputy Governor Natasha Ahmetaj’s participation in the annual Economic and Financial Dialogue between the European Union and regional partners, where she presented the central bank’s assessment of economic and financial conditions. Ahmetaj highlighted prolonged geopolitical conflicts as a key risk to small open economies via energy prices and inflation expectations, while noting Albania’s stable macroeconomic indicators, controlled inflation and resilient banking system, and underscored the need for flexible policymaking and international coordination.
Monetary policyMonetary policy assessments & outlooks
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2026-05-07•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported that in March 2026 total outstanding loans at 38 domestic banks rose to TWD 46.58 trillion, while the average non-performing loan ratio remained stable at 0.15% and non-performing loans increased slightly to TWD 68.89 billion. The coverage ratio of allowances for non-performing loans was 900.67%, marginally lower than the previous month, and the commission assessed asset quality as manageable while reiterating requirements for banks to strengthen asset quality and financial structure.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission’s March 2026 data show higher credit card spending and continued growth in electronic payments, with Q1 2026 non-cash payments reaching 2.213 billion transactions worth TWD 2.34 trillion. Credit card monthly retail sales rose to TWD 452.4 billion, while revolving credit and overdue installment balances declined and the average delinquency ratio edged up to 0.23%. Electronic payment usage expanded, with 201.57 million effective stored value cards, 39.97 million electronic payment account users and rising transaction values.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Jordan•Jordan Securities Commission
The Jordan Securities Commission reported that Commissioner Alaa Al-Din Al-Zoubi represented the Commission at the General Assembly meeting of the Securities Depository Center. The meeting, chaired by Board Chairman Adib Haddad with senior officials present, approved the financial statements, final accounts, and the auditors’ report.
Institutional developmentGovernanceAuditing
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2026-05-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported preliminary gross international reserves of USD 104.1 billion at end-April 2026, equivalent to 6.9 months of imports and 3.8 times short-term external debt on a residual maturity basis. The reserve level, comprising foreign-denominated securities, foreign exchange, gold and other reserve assets, exceeds conventional adequacy benchmarks and is expected to support foreign exchange availability and provide a buffer against external shocks.
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Serbia•National Bank of Serbia
The National Bank of Serbia left its key policy rate unchanged at 5.75%, with deposit and lending facility rates held at 4.5% and 7.0%, citing precaution amid oil-price-driven inflation risks and elevated geopolitical tensions. With March inflation at 2.8% versus the 3 ± 1.5 pp target midpoint and first-quarter GDP up 3% year on year, the Board pledged to maintain dinar stability and stands ready to tighten policy if energy costs trigger second-round price effects.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Czech Republic•Czech National Bank
The Czech National Bank has published average borrowing interest rates used to calculate reimbursement of costs for early repayment of certain housing consumer credit under Article 117a of the Consumer Credit Act, following the amended framework’s entry into force on 1 September 2024. The averages, calculated on a rolling three-month basis and published via the OBIEE tool and ARAD database, apply to authorised housing consumer credit providers and are structured into 20 groups by loan purpose, security and five fixed-rate maturity bands as defined in Decree No. 56/2024 Coll.
Data & statisticsLending
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2026-05-07•Moldova•National Bank of Moldova
National Bank of Moldova raised its base rate by 150 bp to 6.50% and widened the corridor to 4.50–8.50%, halting a prior easing cycle as surging global energy and food costs push projected inflation above the 5% ± 1.5 pp target. March CPI hit 5.81%, with the bank now forecasting 7.0% average inflation in 2026 and 5.8% in 2027, keeping reserve ratios unchanged but warning of further action if required.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Czech Republic•Czech National Bank
The Czech National Bank published updated data on its actively managed international reserves, reporting a total market value of EUR 142,531 million and average annual returns of 8.07% over one year, 7.01% over three years and 3.96% over five years. The investment tranche accounted for 80.2% of reserves with a one-year return of 9.61%, while the liquidity tranche represented 19.8% with a one-year return of 2.23%. Reserves were allocated primarily to bonds (50.1%) and equities (26.1%), with currency exposure led by EUR (48.2%) and USD (27.9%).
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Czech Republic•Czech National Bank
The Czech National Bank has added a dedicated statistics page on international reserves, detailing the structure of reserves and related data series. The page also provides access to the ARAD time series system within its balance of payments statistics resources.
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission has published ordinary data on the banking sector for March 2026. The release provides routine statistical information on sector developments.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has published its April 2026 Statistical Bulletin, a quarterly release by its Statistics Department. The bulletin compiles monthly, quarterly and annual data across a broad range of aspects of the Cyprus economy.
Data & statisticsEconomic data and developments
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2026-05-07•Palestine•Palestine Capital Market Authority
The Palestine Capital Market Authority held an awareness lecture at Birzeit University on forex dealing principles and risks, explaining how the forex market operates, its supervisory framework, and the importance of using licensed providers. Officials highlighted common fraud methods, early warning signs, risks related to virtual currencies, the use of targeted social media by unlicensed entities, and available protection and complaints mechanisms for traders.
Financial literacy & educationFinancial literacy and education
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2026-05-07•North Macedonia•North Macedonia Insurance Supervision Authority
The North Macedonia Insurance Supervision Authority has launched its annual May campaign on insurance-related financial literacy to raise public awareness of insurance as a risk protection mechanism. The initiative involves cooperation with schools and universities, interactive lectures, educational materials and open days.
Financial literacy & educationFinancial literacy and education
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2026-05-07•Ireland•Central Bank of Ireland
The Central Bank of Ireland published a speech by Deputy Governor Mary-Elizabeth McMunn stating that lowering bank capital requirements or adding a competitiveness mandate would amount to deregulation and risk undermining resilience. She argued that data on credit growth, capital buffers and returns on equity do not support claims that capital is constraining lending or competitiveness, and that broader measures of the Irish lending market show greater competition than suggested by a focus on domestic retail banks. She also stressed that simplification should not weaken safeguards and highlighted the need for firms to strengthen operational and cyber resilience, including ICT risk management and response capabilities under the Digital Operational Resilience Act.
Policy & regulationGuidance & interpretationCapital adequacy
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2026-05-07•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank research argues that slowing labour supply growth from population ageing will require stronger productivity growth in the Netherlands, but low business dynamism is constraining this. It highlights low and declining firm entry and exit, many small firms with limited growth, and persistent misallocation of labour and capital, and concludes that stronger competition, innovation, deeper European single market and capital markets integration, and more targeted support measures are needed, while untargeted support and certain tax advantages for self-employed workers and small firms may distort markets.
ResearchMarket development
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2026-05-07•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority has referred a report to the Attorney General regarding an alleged offence under Article 127(1) of Law No. 7 of 2010. The case concerns a whistleblower’s failure to provide detailed documents related to the annual financial statements of a company formerly listed on Boursa Kuwait for the financial year ended 31 December 2024.
EnforcementInvestigations & enforcement actionsWhistleblowing
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2026-05-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority has approved Methanol Chemicals Company’s request to reduce its capital from SAR 674,508,630 to SAR 150,000,000, with shares decreasing from 67,450,863 to 15,000,000. The reduction remains subject to approval by the extraordinary general assembly, publication of a shareholder disclosure document, and completion of procedures under applicable regulations, with the authority stressing that its approval is not an endorsement of the transaction’s feasibility.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Market Authority has approved Dinar Investment Company’s public offer of the Dinar Periodic Income Fund, confirming compliance with the Capital Market Law and its Implementing Regulations. The authority clarified that the approval does not constitute a recommendation to subscribe and urged investors to review the fund’s terms, strategy and risk factors and to consult the fund manager as needed.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-07•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has approved the public offer of Asbar Murabaha Fund by Asbar Alosool Capital, confirming compliance with the Capital Market Law and its Implementing Regulations. The authority clarified that this approval is not a recommendation to subscribe and urged investors to review the fund’s terms, strategy and risk factors and to consult the fund manager where needed.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-05-07•Indonesia•OJK
Indonesia’s Financial Services Authority has issued Regulation No. 4 of 2026 establishing a dedicated framework for Islamic banking investment products, separating them from third-party fund products such as savings, time deposits and current accounts. The regime defines sharia-compliant investment products where investment risk is borne by the investor customer and sets requirements on product features, governance, risk management, accounting separation, prudential standards and consumer protection. Existing products and pending approval applications must be aligned with the new framework, which has applied since 29 April 2026.
Policy & regulationRules & requirementsOther
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2026-05-07•Denmark•National Bank of Denmark
The National Bank of Denmark published preliminary Q4 2025 climate indicators showing financed greenhouse gas emissions from Danish financial sector investments in listed non-financial companies rose slightly to 11.3 million tonnes CO2e on holdings of about DKK 2,200 billion, mainly due to greater exposure to transport and materials, though emissions remain below 2018 levels. Around 6 per cent of investments account for half of financed emissions. Current indicators cover scope 1 and 2 emissions from listed equities and bonds of insurance and pension companies, investment funds, banks and mortgage credit institutions, with bank lending and unlisted instruments to be added as data improve.
Data & statisticsClimate risk and sustainable finance
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2026-05-07•Denmark•National Bank of Denmark
The National Bank of Denmark has published an analysis showing that people of foreign origin accounted for around 14 per cent of employment in 2024, with foreign workers increasingly filling highly paid, knowledge-intensive roles while remaining overrepresented in manual work and sectors such as agriculture, hotels and restaurants, and cleaning. The analysis finds that foreign labour in Denmark is generally younger and more highly educated than in the European Union overall and reacts to Danish cyclical conditions, with estimates indicating that a 1 per cent Denmark-specific GDP shock would increase foreign labour by about 0.6 per cent over 2 to 4 years.
Research
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2026-05-07•Kosovo•Central Bank of the Republic of Kosovo
At the European Commission’s Economic and Financial Dialogue in Brussels, the Central Bank of Kosovo reported that the banking sector remains stable, well capitalised, liquid and profitable, supported by macroprudential measures such as countercyclical capital and systemic buffers. The bank highlighted progress in aligning its supervisory framework with EU standards, strengthening bank recovery, resolution and Emergency Liquidity Assistance frameworks, and stressed prudent policies and institutional coordination to safeguard financial stability amid geopolitical risks.
Policy & regulationRules & requirementsFinancial stability and systemic riskMacroprudential policy and tools
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2026-05-07•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported on a meeting between Governor Ahmet Ismaili and the heads of the Kosovo Tax Administration, Kosovo Financial Intelligence Unit and Central Market Surveillance Inspectorate on strengthening interinstitutional cooperation. The authorities agreed to continue information sharing and coordinated action within the legal framework, including on financial sector integrity, supervision, financial stability and implementation of the Law on Crypto-Assets to ensure only licensed crypto-asset activities operate.
Policy & regulationCooperationFintech and insurtechRegtech and suptech
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2026-05-07•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore clarified in a parliamentary reply that newer medical procedures are treated differently across health insurance products and that updated critical illness definitions apply only to new policies. It noted that expanding coverage for existing policies would have complex actuarial implications and may require premium adjustments, and that the Life Insurance Association of Singapore is studying options while some insurers already offer broader coverage on a product-specific basis.
Policy & regulationGuidance & interpretationOther
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2026-05-07•Russia•Central Bank of Russia
The Central Bank of Russia reports that incoming payments through the Bank of Russia Payment System in April 2026 rose by 9.1% versus the average level in the first quarter of 2026. The increase was mainly driven by higher prices for Russian exports, primarily energy, with additional growth in payments from the investment, intermediate and external demand sectors.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has updated its warning list of suspicious investment projects, adding Cronika and Trading Time, bringing the total to 468 projects flagged for signs of legal violations or fraud. The Commission reiterated common red flags for investors, including lack of licences and transparency, aggressive advertising, unrealistic profit promises, and non-disclosure of loss risks, and called on the public to report suspected fraudulent platforms.
SupervisionAlertsFraud and scams
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2026-05-07•Russia•Central Bank of Russia
The Central Bank of Russia has added to its register the Saint Petersburg International Mercantile Exchange methodology for calculating exchange and over-the-counter wholesale price indices for petrol, diesel fuel, jet kerosene, fuel oil and liquefied petroleum gases, nationwide and by production region. The move aims to broaden market use of these indices and bolster confidence in pricing financial instruments linked to them, including their use as settlement prices for cash-settled futures.
Policy & regulationRules & requirementsFinancial and market indicators
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2026-05-07•Global•International Monetary Fund
The International Monetary Fund warns that artificial intelligence is amplifying cyber risk in finance by enabling faster, cheaper exploitation of vulnerabilities and increasing the likelihood of correlated failures across shared infrastructures, with potential macro financial shocks. While AI can also strengthen defence, benefits depend on strong governance and cyber hygiene. The IMF urges authorities to treat cybersecurity as a core financial stability issue and enhance resilience standards, supervision, response and recovery planning, cyber stress testing, board oversight, threat intelligence sharing and international coordination, particularly for emerging and developing economies.
ResearchCyber resilienceArtificial intelligence
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2026-05-07•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported that international reserves fell 7.3% in April to USD 48,214.7 million as of 1 May 2026, still covering 4.9 months of future imports. The decline reflected net foreign exchange sales of USD 3,576.7 million and foreign currency public debt servicing and repayments that exceeded inflows from foreign currency domestic government debt securities and other external funding, while revaluation effects added USD 378.0 million.
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan and the Ministry of Digital Technologies have launched an artificial intelligence training programme for executive staff in the regional banking system, following a presidential instruction to expand digital technologies in banking. A two-day pilot course for Tashkent region bank branch executives covered AI applications in management, risk assessment, process automation, customer service, and related risks, compliance and governance, with similar courses to be rolled out across all regions.
Institutional developmentCooperation & capacity buildingArtificial intelligence
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2026-05-07•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan reported that an Islamic Financial Services Board delegation visited Uzbekistan to support preparation of a draft roadmap for developing the national Islamic finance industry for 2026 to 2030, concluding with agreement on joint tasks. Meetings with public authorities and financial sector stakeholders addressed the legislative framework, prospects for Islamic banking, the Islamic capital market and Islamic insurance takaful, as well as training and capacity building.
Policy & regulationCooperationCapacity building
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2026-05-07•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority will conduct an in-depth analysis of links between Swedish banks and private credit, and the role of private credit in the Swedish financial system, focusing on lending outside the banking sector and bond market. While the authority has not identified material risks to date, it will assess potential interlinkages with private credit market participants in light of recent global market developments.
SupervisionRisk monitoring & watch pointsCredit riskPrudential risks
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2026-05-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has revised the implementation timeline for the International Transactions Reporting System, setting full implementation for rural and digital banks on 1 July 2027 and for universal, commercial and thrift banks on 1 October 2027. The memorandum supersedes prior communications on the ITRS schedule, and banks must continue submitting FX Form 1 and 1A reports under the existing policy until otherwise advised.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2026-05-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has updated the link to the list of cancelled and replaced Bangko Sentral Registration Documents (BSRDs) as of Q4 2025, addressed to Authorized Agent Banks and their subsidiary or affiliate foreign exchange corporations. The list covers original hard copy and provisional electronic BSRDs for nonresident investments cancelled and replaced due to changes or transfers in the underlying investments, and any BSRDs on this list should not be honored for foreign exchange purchases for capital repatriation or remittance of earnings under Section 38 of the Manual of Regulations on Foreign Exchange Transactions.
Policy & regulationGuidance & interpretationOther
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2026-05-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has secured Court of First Instance disqualification orders of up to 33 months against four former directors of China Candy Holdings Limited for negligence in failing to detect and address materially overstated financial records. China Candy’s 2016 interim and annual reports overstated cash and bank balances by 87% and 97% respectively, using fabricated bank and accounting records to conceal the misstatements, and the directors did not adequately act on internal control red flags identified by external professionals. The orders form part of wider legal action against former directors and the ex-financial controller, with separate proceedings against three other former senior executives concluded and judgment pending.
EnforcementInvestigations & enforcement actionsCorporate governance
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2026-05-07•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has published its 2025 review of corporate reporting enforcement across the European Economic Area, covering IFRS financial reporting, sustainability reporting and European Single Electronic Format digital reporting, and noting the first year of enforcement of the European Sustainability Reporting Standards. While issuers generally met the 2024 European Common Enforcement Priorities, national enforcers reported high intervention rates, with recurring weaknesses in entity-specific accounting disclosures, connectivity between sustainability and financial reporting, and completeness and accuracy of digital tagging.
SupervisionReviews, inspections & stress testsAccounting and financial reporting
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2026-05-07•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia reported that 65% of 581 trainees from its investED Leadership 1 graduate talent programme have secured employment in Malaysia’s capital market, while the investED Foundation programme has enrolled 3,072 participants across three cohorts, exceeding its 2,400 target. Since its June 2023 launch, investED has reached over 190,000 students and fresh graduates, with the Leadership track combining one month of classroom training and six months of on-the-job placement at 50 capital market partner companies.
Policy & regulationImplementation, projects & pilotsCapacity building
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2026-05-07•China•Central Bank of the Republic of China
The People's Bank of China Governor Pan Gongsheng met the French President’s diplomatic adviser Emmanuel Bonne to discuss economic and financial conditions in China and globally. The parties also exchanged views on China-France cooperation in the economic and financial field under multilateral and bilateral mechanisms, with Deputy Governor Xuan Changneng in attendance.
Policy & regulationCooperationCross-border cooperation
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2026-05-07•Ireland•Central Bank of Ireland
The Central Bank of Ireland published loan-level research using Central Credit Register data showing the Irish loan market is less concentrated once non-bank lenders, foreign banks and credit unions are included, with one-third of firms, including 40% of SMEs, borrowing from multiple lender types. Deputy Governor Mary Elizabeth McMunn said there is little evidence to justify lowering bank capital requirements to boost lending or competitiveness, rejected a competitiveness mandate for the regulator, and highlighted the Central Bank’s multi-year domestic simplification programme.
ResearchLendingMarket development
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2026-05-07•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported on Governor Eli M. Remolona Jr.’s participation in the 2026 IMF–World Bank Spring Meetings, where he reaffirmed the country’s commitment to price stability, financial resilience, inclusion and regional cooperation, and highlighted the resilience of the Philippine banking system. He emphasized pragmatic, well-calibrated policy responses amid geopolitical tensions and energy supply shocks, and outlined priorities for the Philippines’ 2026 ASEAN Chairmanship, including capital market deepening, digital payments, regional financial safety nets and financial health.
Monetary policyMonetary policy assessments & outlooksFinancial stability and systemic riskMonetary policy decisions and developments
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2026-05-07•Europe•European Central Bank
The European Central Bank’s Financial Integration and Structure in the Euro Area 2026 research proposes a compact set of capital markets union indicators and finds that structural blockages still limit capital markets’ support for innovation and long-term growth. It highlights a large mismatch between high EU household savings and financing needs, estimating that aligning the EU household deposit-to-financial-assets ratio with that of US households could redirect up to EUR 8 trillion into long-term, market-based investment. Key barriers include supervisory fragmentation, tax disparities and market infrastructure differences. Efficient implementation of the European Commission’s savings and investments union measures, including the Savings and Investment accounts recommendation, the proposed pension package, reviews of Solvency II and IORP II, and the market integration package, could foster equity market development and cross-border integration.
ResearchMarket development
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2026-05-07•Europe•European Central Bank
The European Central Bank’s latest report on euro area financial integration finds marked improvement since late 2022, driven by stronger cross-border debt holdings, more active interbank lending and a growing role for non-bank financial institutions. However, subdued external financing, declining equity market integration, historically low intra-euro area FDI and high household savings in low-yield deposits mean the system still underserves long-term growth and competitiveness. The ECB calls for deeper integration, scale and efficiency across the single market, aligning with the European Commission’s savings and investments union objectives.
Research
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2026-05-07•Europe•European Central Bank
The European Central Bank has published research finding that Europe’s venture capital market is constrained by limited institutional investor participation, heavy reliance on government-backed investors such as the European Investment Fund, and Single Market fragmentation that hampers fundraising, cross-border investment and exits. The study highlights that EU venture capital funds are much smaller than in the United States, more outward-investing, and more dependent on government entities as limited partners. It also finds most EU-based venture capital funds fall under the Alternative Investment Fund regime and suggests the upcoming review of the framework could broaden access to the lighter European Venture Capital Funds regime and reduce cross-border frictions.
ResearchMarket developmentFinancial stability and systemic risk
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2026-05-07•Europe•European Central Bank
The European Central Bank detailed how the Eurosystem is supporting tokenisation in euro area securities markets through its dual track DLT settlement programme. Pontes will provide a short term link between DLT platforms and TARGET Services from a pilot in Q3 2026, while Appia will design a DLT based wholesale market architecture by 2028. Since 30 March 2026, DLT issued assets settled in TARGET2-Securities are eligible collateral if compliant, and the Eurosystem is gradually assessing eligibility of DLT assets outside existing systems.
Policy & regulationImplementation, projects & pilotsMarket infrastructureTokenization
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2026-05-07•Europe•European Central Bank
European Central Bank Vice-President Luis de Guindos said euro area financial integration is now above its long-term average but still insufficient, citing low cross-border corporate lending, declining equity market integration and historically weak intra-euro-area foreign direct investment. He highlighted the market integration and supervision package—covering a single rulebook, changes to the DLT pilot regime and stronger EU-level supervision—as the main near-term lever for deeper capital markets integration. He also urged completion of the banking union with a European deposit insurance scheme, freer intra-group capital and liquidity flows, a macroprudential framework for non-banks, and removal of non-prudential barriers such as divergent insolvency, tax and corporate laws.
Policy & regulationReform agendas & prioritiesCross-border cooperationMarket development
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2026-05-07•Norway•Norges Bank
Norges Bank’s Monetary Policy and Financial Stability Committee raised the policy rate 25 bp to 4.25 %, stating that inflation remains above the 2 % target and upside risks persist. The policy path still foresees 4.25–4.5 % by end-2026, and further hikes later this year remain on the table if the outlook deteriorates.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Chile•Chile Financial Market Commission
The Chile Financial Market Commission approved a structural reorganization to make the agency more agile and better balance its mandates, merging its General Directorates of Market Conduct Regulation and Prudential Regulation into a single General Directorate of Regulation and consolidating licensing into an area reporting directly to the board. The changes include new leadership, an Insurance Prudential Regulation Directorate, and transferring the International Area to the General Directorate of Research. The redesign aligns with international recommendations under Chile’s twin peaks model by separating prudential and market conduct supervision while applying uniform regulatory processes.
Institutional developmentMandate & organizational structureOrganizational structure
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2026-05-07•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission is consulting for a second time on rules requiring annual corporate governance training for directors and key officers of covered companies. The draft introduces updated accreditation, reporting, record-retention and penalty frameworks for training providers, speakers and in-house programs. Comments are due by May 22, 2026.
Policy & regulationRules & requirementsCorporate governanceComplianceActivity and performance reporting
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2026-05-07•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association has criticised the European Parliament ECON Committee’s proposed review of the EU Securitisation Regulation as insufficiently supportive of European investors and Savings and Investment Union objectives, warning that investor-side rules could still suppress demand. It highlighted overly prescriptive due diligence requirements, including for third-country issuers, and the risk of duplicative sanctions for asset managers already covered by UCITS and AIFMD. EFAMA urged trilogue negotiators to better balance risk regulation and market development by easing third-country investment barriers and avoiding duplicative reporting.
Policy & regulationReform agendas & prioritiesSecuritization
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2026-05-07•Indonesia•Ministry of Finance (Indonesia)
Indonesia’s Ministry of Finance reported that the Financial System Stability Committee (KSSK) assessed fiscal, monetary, and financial sector conditions as stable in the first quarter of 2026, despite heightened global market volatility from the Middle East conflict. The economy grew by 5.61 percent in the quarter, with authorities cautious about second-quarter pressures and committing to forward-looking risk assessments, strengthened policy coordination, and efforts to keep 2026 growth near 6 percent.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2026-05-07•Sweden•Riksbank
Sveriges Riksbank left its policy rate unchanged at 1.75 % effective 13 May 2026, citing sub-target CPIF inflation, weaker early-year growth and commodity-price volatility linked to the Middle East war. The Executive Board, which cut 50 bp in 2025, expects the rate to remain at this level “for some time to come” and signalled readiness to act if the inflation or growth outlook shifts.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia’s Monetary Policy Committee left the Overnight Policy Rate unchanged at 2.75 % on 7 May, reiterating that the current stance supports sustainable growth and contained inflation even as Middle East conflict raises commodity costs; headline/core inflation averaged 1.6 %/2.1 % in Q1 and the committee pledged continued vigilance.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-05-07•Europe•Council of Europe
The Council of Europe has set the agenda for the 15 May 2026 annual session of Foreign Affairs Ministers in Chișinău, which will define ministerial-level policy objectives and is expected to adopt a new Additional Protocol to the Convention on Laundering and on the Financing of Terrorism. Discussions will focus on Russia’s war against Ukraine, post-war accountability and reconstruction, migration, the New Democratic Pact for Europe, information manipulation and foreign interference, and the Council of Europe’s future external action strategy. A treaty signing ceremony will enable accessions to recent Council of Europe conventions, and the Republic of Moldova will transfer the Presidency of the Committee of Ministers to Monaco.
Policy & regulationInternational standards & recommendationsGeopolitical risk
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2026-05-07•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission held initial 2026 meetings with non-life and life insurers to agree joint measures to reduce complaints by improving early dispute prevention and complaint management under the fifth insurance development plan. Insurers must set complaint management KPIs, introduce internal review before escalation, and adopt faster service timeframes than 2024 standards, while the authority will apply risk-based market conduct supervision focused on sales, premium collection, claims handling and complaints, and enhance coordination via the Insurance Speedy Channel, external mediation and arbitration.
SupervisionSupervision approach, priorities & toolkitOther
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2026-05-07•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission reported that the Federal Court found Telstra Super, now Tetra Servicing Pty Ltd, breached mandatory internal dispute resolution requirements by failing to respond to about one third of relevant complaints within the 45-day timeframe between 22 October 2021 and 13 January 2023, with around 30% of those responses taking more than 100 days. The Court also found Telstra Super in some cases failed to adequately explain delays or inform complainants of their right to approach the Australian Financial Complaints Authority, but did not find broader failures in its obligation to provide financial services efficiently, honestly and fairly.
EnforcementInvestigations & enforcement actionsComplaints and dispute resolution
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2026-05-07•Uganda•Uganda Insurance Regulatory Authority
The Insurance Regulatory Authority of Uganda has directed all non-life insurers to conduct proper pre-insurance risk inspections and surveys before accepting cover, to verify the existence and condition of insurable risks and support accurate valuation and underwriting. The move follows observations that some insurers have been onboarding risks without adequate pre-risk assessment or appropriate pricing, contributing to increased fraudulent and disputed claims, and requires that inspection outcomes be documented in underwriting records.
Policy & regulationRules & requirementsRisk management
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2026-05-07•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service published preliminary 2025 results for domestic insurers’ overseas businesses, reporting net income of USD197.0 million, up from USD159.1 million in 2024, driven by newly consolidated life insurance operations despite catastrophe losses at nonlife insurers. Aggregate overseas assets rose to USD16.24 billion and liabilities to USD12.02 billion, mainly reflecting borrowings and deposits of newly consolidated companies. The authority will closely monitor the financial stability of insurers’ overseas businesses and press firms to strengthen risk management amid heightened global market, geopolitical and climate-related catastrophe risks.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Poland•Central Bank of Poland
The Central Bank of Poland reported that official reserve assets rose to EUR 254.8 bn at end-April 2026 from EUR 253.6 bn at end-March. In US dollar terms, reserves increased by USD 6.9 bn to USD 297.6 bn.
Data & statisticsBalance of payments and other external statistics
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2026-05-07•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has temporarily withdrawn its Guidelines on Recognition of an External Credit Assessment Institution as part of a regular review of its prudential framework. The guidelines, last updated in 2013, will be replaced with updated guidance once the review is complete.
Policy & regulationGuidance & interpretationCredit ratings
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2026-05-07•Australia•Australian Securities & Investments Commission
The Australian Securities and Investments Commission outlined its shift to a more enforcement-led, data- and technology-driven approach, highlighting a sharp rise in investigations and penalties, investor remediation, scam website takedowns, and an expanded regional presence. ASIC flagged forthcoming publications on harms in debt management, credit repair, debt collection and motor vehicle finance, plus a refreshed small business strategy, and noted support for banning unlicensed superannuation communications to combat scams. Deputy Chair Sarah Court will become ASIC Chair in June.
EnforcementEnforcement statisticsRegulatory burden
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2026-05-07•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago launched its inaugural FINLIT LIVE 2026 expo under the National Financial Literacy Programme to expand its reach. The two-day event at the Centre of Excellence in Macoya attracted more than 2,300 participants, including over 50 educational institutions, and featured exhibitor booths, gamified activities and simulations to build practical financial skills. The Central Bank also invited community groups, organisations and schools to request further financial education sessions or partnerships.
Financial literacy & educationFinancial literacy and education
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2026-05-07•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency’s Spring 2026 Semiannual Risk Perspective reports that the federal banking system entered 2026 with improved earnings, strong balance sheets, high capital and liquidity, and manageable credit risk. The report highlights credit and refinancing risks in segments of commercial real estate and private credit, modest increases in past-due consumer loans, and elevated operational and compliance risks from sophisticated cyber threats, fraud, advanced artificial intelligence tools, and heightened sanctions and anti-money laundering pressures.
SupervisionRisk monitoring & watch pointsCredit riskLiquidity riskMarket risk and volatility
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2026-05-07•United States•U.S. Senate Committee on Finance
U.S. Senate Finance Committee Ranking Member Ron Wyden sent oversight letters to Jefferies Financial Group, Oppenheimer & Co., and Stifel Financial Corp. seeking details on transactions where investment banks bought small businesses’ rights to tariff refunds at steep discounts. The inquiry examines whether firms steered businesses affected by tariffs invalidated by the Supreme Court into opaque or disadvantageous deals amid delayed refunds and a new claims process, aligning with Wyden’s push for automatic refunds and criticism of the current system’s burden on small businesses.
SupervisionReviews, inspections & stress testsOther
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2026-05-07•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs Ranking Member Elizabeth Warren has urged the Office of the Comptroller of the Currency to withdraw a proposed rule raising the asset threshold for enhanced governance and risk management standards for large national banks from USD 50 billion to USD 700 billion. She argues this 14-fold increase would exempt 26 of the 31 largest national banks, expose the system to risks from banks between USD 50 billion and USD 700 billion, and is part of a broader deregulatory agenda.
Policy & regulationRules & requirementsPrudential risksFinancial stability and systemic risk
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2026-05-07•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Banking Committee Ranking Member Elizabeth Warren has written to Meta chief executive Mark Zuckerberg expressing concern over reported plans to integrate a stablecoin into Meta’s platforms. She warns that any Meta role in controlling or preferring a stablecoin, including via third parties, could pose risks to competition, privacy, payments system integrity and financial stability, and highlights a perceived GENIUS Act loophole that could let large technology firms re-enter the stablecoin market with limited oversight.
Policy & regulationReform agendas & prioritiesStablecoins
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2026-05-07•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported that in March 2026 the banking system maintained double-digit annual growth in public deposits and lending, with improved credit quality and liquidity, and profitability and solvency above regulatory limits. Public deposits rose 16.9 percent year on year to NIO 290,168.3 million and the loan portfolio increased 11.6 percent to NIO 243,326.2 million, with performing loans at 95.8 percent of gross loans and a past due loan ratio of 1.2 percent. Liquidity stood at 34.5 percent, reserve requirements in local currency and USD were exceeded, and key profitability and capital metrics included a return on equity of 13.4 percent, return on assets of 2.3 percent and capital adequacy of 18.2 percent.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-05-07•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua has published its president’s presentation to the National Assembly on the 2026-2027 National Production, Consumption and Trade Plan, which sets production and export targets under a challenging climate outlook. The plan targets USD 3.5957 billion in food and forestry exports in 2026, with livestock and livestock agroindustry expected to offset a 2.2 percent contraction in agriculture, and beef and coffee set as the largest export lines. The presentation reports 97.8 percent fulfilment of the 2025-2026 plan, with food exports reaching USD 3.4079 billion, 7.5 percent above target and 18.3 percent above 2024, while climate models for 2026-2027 indicate elevated El Niño risk and adverse rainfall and temperature conditions that will support higher output in staples and meat but weigh on coffee, milk and fisheries.
Policy & regulationReform agendas & prioritiesOther
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2026-05-07•Global•World Bank
The World Bank has priced an AUD 2 billion 5.5-year Sustainable Development Bond due November 14, 2031, with a 5.00% fixed coupon and a spread of 34.75 basis points over the November 2031 Australian government bond, yielding 5.016%. Proceeds will finance eligible sustainable development activities under the World Bank’s framework, with demand reflected in an orderbook exceeding AUD 6.5 billion from bank treasuries, asset managers and official institutions. The bond will settle on May 14, 2026, be listed on the Luxembourg Stock Exchange, and is jointly led by Commonwealth Bank of Australia, Deutsche Bank, RBC Capital Markets and TD Securities.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2026-05-07•South Korea•Bank of Korea
The Bank of Korea reported that Korea’s official foreign reserves rose to USD 427.9 billion at end-April 2026, up USD 4.2 billion from end-March. The reserves comprised securities of USD 384.1 billion (89.8%), deposits of USD 18.8 billion (4.4%), Special Drawing Rights of USD 15.8 billion (3.7%), gold of USD 4.8 billion (1.1%), and an International Monetary Fund position of USD 4.5 billion (1.0%), with Korea ranking twelfth globally in foreign reserve holdings as of end-March 2026.
Data & statisticsBalance of payments and other external statistics
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2026-05-06•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of KYROS Asset Management SGOIC, S.A. as a management company for collective investment undertakings under its supervision. The firm is authorised to manage one or more collective investment undertakings, market participation units, and provide investment advisory services.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-06•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority, UAE Ministry of Economy and Tourism, and Capital Market Authority have launched their first joint Quality Management audit inspections to coordinate oversight of auditors across the UAE. The inspections will review audit firms’ implementation of International Standards on Quality Management 1 to promote consistent assurance processes for financial services firms operating in multiple jurisdictions and are described as a first step toward closer supervisory coordination and more tailored information sharing.
SupervisionReviews, inspections & stress testsAuditing
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2026-05-06•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority announced that Prospera Credit Union and Sunshine Coast Credit Union have received federal Letters Patent to continue as federal credit unions under the Bank Act and amalgamate with Coast Capital Savings Federal Credit Union, effective 6 May 2026. The amalgamation ends BCFSA regulation of Prospera and Sunshine Coast, with oversight moving to the federal framework and eligible member deposits shifting from coverage by the provincial Credit Union Deposit Insurance Corporation to the Canada Deposit Insurance Corporation.
SupervisionAuthorisations & approvalsLicence withdrawal
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2026-05-06•Global•International Monetary Fund
The International Monetary Fund’s staff concluding statement for its 2026 Article IV mission to Luxembourg highlights a tepid, uneven recovery, a softening labour market, a shift from a 1 percent of GDP surplus in 2024 to a 2 percent deficit in 2025, and projected growth of 1.2 percent in 2026 amid rising inflation and downside risks. While assessing the financial system as resilient, staff calls for fiscal adjustment focused on containing current expenditure, better-targeted social and energy support, tax base broadening, reform of the fiscal rule, and stronger macroprudential measures, including higher releasable capital buffers and tighter mortgage standards.
Policy & regulationInternational standards & recommendationsEconomic data and developmentsFinancial stability and systemic risk
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2026-05-06•Global•International Monetary Fund
International Monetary Fund staff and Serbian authorities have reached a staff-level agreement on the third review under Serbia’s Policy Coordination Instrument, pending management and Executive Board approval. The program sets a fiscal deficit ceiling of 3.0 percent of GDP in 2026-27, withdrawal of recent fuel excise cuts, cautious monetary policy with possible tightening if energy price shocks persist, and contingency measures based on targeted support and capital spending reprioritization. Structural priorities include actuarial and tax expenditure analyses, stronger VAT compliance, more rigorous public investment appraisal, energy SOE reform, and faster business environment improvements.
Policy & regulationReform agendas & prioritiesOther
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2026-05-06•United States•U.S. Department of Justice
The U.S. Department of Justice sentenced U.S. nationals Matthew Isaac Knoot and Erick Ntekereze Prince to 18 months in prison each for facilitating Democratic People’s Republic of Korea (DPRK) remote IT workers in schemes that generated more than USD 1.2 million for the DPRK and affected nearly 70 U.S. companies. The cases, which involved false or stolen identities, laptop farms, and false reporting to the IRS and Social Security Administration, also resulted in significant remediation costs for victim firms. The actions are part of the Department’s National Security Division and FBI DPRK RevGen Domestic Enabler Initiative targeting DPRK revenue-generation schemes and U.S.-based facilitators.
EnforcementInvestigations & enforcement actionsFraud and scams
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2026-05-06•Canada•Department of Finance (Canada)
The Department of Finance Canada’s Spring Economic Update includes measures to combat money laundering, fraud and extortion, such as legislation to create a new Financial Crimes Agency with multi-year funding, more resources for the Financial Transactions and Reports Analysis Centre of Canada, and continued work on a National Anti-Fraud Strategy. The government also plans legislation to ban crypto ATMs, citing studies that 85 to 98 per cent of related transactions are illicit and caused CAD 142 million to CAD 284 million in losses in 2024.
Policy & regulationRules & requirementsAML and CFT
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2026-05-06•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendency of Banking, Insurance and Private Pension Fund Administrators of Peru has authorized Nacional de Seguros S.A. to operate as the 18th insurance company in the Peruvian market, focusing on general insurance with an emphasis on surety and bond insurance. The authorization followed technical, legal and prudential assessments of its business model, governance, capital and risk management, and the firm must still show its capital stock is listed on a stock exchange before commencing operations.
SupervisionAuthorisations & approvalsLicence approval
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2026-05-06•Italy•Bank of Italy
The Bank of Italy outlined its role in designing and operating the digital euro platform at a European Parliament conference, confirming that one of the platform’s data centres will be located and managed in Italy. Officials highlighted the Bank’s experience with TARGET Instant Payment Settlement as a basis for its contribution and noted growing convergence among political groups on the proposed digital euro regulation, which is being examined by the Committee on Economic and Monetary Affairs with a timeline targeting possible issuance in 2029.
Policy & regulationImplementation, projects & pilotsCBDC
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2026-05-06•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency awarded its "Here We Know About Pensions" seal to Claro Dominicana, the first telecommunications company in the country to receive this certification, after over 4,000 employees completed a virtual course on the Dominican Pension System. The seal, which recognises staff training on pension rights, obligations and the role of pension fund administrators, is valid for two years, after which Claro must undergo recertification with an updated course.
SupervisionAuthorisations & approvalsCapacity building
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2026-05-06•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reiterated that Sense Bank JSC’s nationalization was driven by sanctions-related risks to financial stability and depositors, and is reviewing the supervisory board’s compliance and the chief executive’s qualifications. It detailed extensive post-nationalization supervision, including inspections, referrals to law enforcement, and discovery of a concealed parallel management structure linked to former sanctioned shareholders. The NBU rejected claims of inaction or influence over tariff policy and confirmed profits are being retained or used to cover losses, with dividends to the state expected only from 2028 under the recapitalization program.
SupervisionReviews, inspections & stress testsCapital adequacyFinancial stability and systemic risk