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2026-03-31•Aruba•Central Bank of Aruba
The Central Bank of Aruba’s quarterly Economic Bulletin for the fourth quarter of 2025 reports that the government’s cash-basis financial balance moved to a deficit of AWG 9.4 million from a AWG 6.9 million surplus a year earlier, as revenue fell more than expenditure. Outstanding government debt declined year on year to AWG 5,124.4 million at end-December 2025, while wage-related spending rose to AWG 159.0 million and the ratio of wage-related outlays to tax revenue increased to 40.7% from 37.6%.
Data & statisticsEconomic data and developments
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2026-03-31•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency’s Quarterly Report on Bank Trading and Derivatives Activities for Q4 2025 showed USD 2.9 billion in trading revenue for the quarter and USD 14.9 billion for the year, with quarterly revenue down 16.3 percent from Q3 and 4.4 percent year-on-year. At quarter-end, 1,197 insured U.S. commercial banks and savings associations held derivatives, with four large banks accounting for 85.1 percent of the USD 208.1 trillion total notional, down 10.3 percent and still concentrated in interest rate products. Net current credit exposure fell 4.2 percent to USD 241 billion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•South Africa•National Treasury (South Africa)
The National Treasury (South Africa), with research partners under the Spatial Economic Activity Data – South Africa initiative, has published the Cities Economic Outlook 2026 on economic and labour-market shifts across eight metropolitan municipalities. Using anonymised tax-based Spatial Tax Panel data, it finds weak employment growth outside Cape Town and Tshwane, stagnation in higher-value tradable sectors, pressure from rapid population growth, uneven green transition and COVID-19 recovery impacts, and severe, persistent youth job losses. Aggregated Spatial Tax Panel indicators are publicly available via the National Treasury Secure Data Facility, with the report accessible through the SEAD-SA platform.
ResearchOther
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2026-03-31•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico’s National Banking and Securities Commission announced the interconnection of financial entities to the Single Identity Platform to support the search, location and identification of missing or unlocated persons. The system validates data across public and private databases using the Unique Population Registry Code, generates real-time match alerts to authorities, and is structured so that institutions retain control of their data and no financial information or databases are shared.
Policy & regulationImplementation, projects & pilotsOther
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2026-03-31•Brazil•Central Bank of Brazil
The Central Bank of Brazil has launched a public consultation on draft regulations revising the framework for Operadoras de Sistemas do Mercado Financeiro within the Brazilian Payments System, aiming to strengthen governance, risk management, operational resilience and interoperability. The proposal introduces enhanced authorisation and senior management notification requirements, stricter information technology, cybersecurity and outsourcing standards, more conservative capital and net worth rules, and consolidated prudential criteria for central counterparties, including more robust margin models and expanded application of Cover 2.
Policy & regulationRules & requirementsMarket infrastructure
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2026-03-31•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has held the first in a series of expanded stakeholder meetings with insurance companies, focused on addressing regulatory and operational bottlenecks under the Unified Insurance Law No. 155 of 2024. Discussions covered implementation of supervisory requirements, use of InsurTech and the Regulatory Sandbox, reinsurance market development, and new corporate governance rules under FRA Board Decision No. 200 of 2025, against total premiums of EGP 10.9 billion and claims of EGP 3.8 billion as at end-January 2026.
Policy & regulationImplementation, projects & pilotsOperational excellence
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2026-03-31•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority issued Board Decision No. 82 of 2026 granting insurance companies and insurance pools an additional 15 days to present their annual financial statements to their general assemblies. The extension applies to 2025 year-end financial statements, related disclosures, the external auditor’s report and the board of directors’ report, moving the deadline to 15 May 2026 from 30 April 2026 in response to industry requests.
Policy & regulationRules & requirementsAccounting and financial reporting
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2026-03-31•Tanzania•Bank of Tanzania
The Bank of Tanzania issued a public notice reminding Certified Financial Educators to adhere to programme objectives and professional conduct requirements following concerns over misinformation and misrepresentation. It clarified that CFEs must teach only certified content, use correct programme branding, and not present themselves as financial institutions, Bank of Tanzania employees, brokers, consultants or financial advisors, while disclosing other relevant qualifications where applicable. The Bank and designated academic institutions may withdraw CFE certificates in cases of non-compliance.
Policy & regulationGuidance & interpretationFinancial inclusion
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2026-03-31•Canada•Ontario Securities Commission
The Ontario Securities Commission has commenced an enforcement proceeding against KPMG LLP over alleged audit failures in its 2019 and 2020 audits of four funds managed by Bridging Finance Inc. The regulator alleges KPMG’s audit reports falsely stated the funds’ financial statements were fairly presented and that audits complied with Canadian generally accepted auditing standards, particularly in relation to loan valuations, described as the most critical aspect of the financial statements.
EnforcementInvestigations & enforcement actionsAuditing
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2026-03-31•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has extended for three months the suspension of management at Konsegur Seguros de Garantías y Crédito S.A. and the appointment of Robert Rivas Carrillo as its administrator. The authority cited the need to preserve business continuity and protect policyholders in light of Konsegur’s claims and policies portfolio and its economic and financial situation.
SupervisionInterventionsOther
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2026-03-31•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has extended for three months the suspension of the management of Konsegur Seguros de Garantías y Crédito S.A. and the appointment of Robert Rivas Carrillo as its administrator. The extension is based on the need to preserve the firm’s continuity and protect policyholders’ interests given Konsegur’s current claims and policies portfolio and its economic and financial situation.
SupervisionInterventionsOther
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2026-03-31•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has launched a public consultation on amendments to General Rule No. 538 on minimum security and authentication standards for electronic transactions, to facilitate the transition to Reinforced Client Authentication by allowing certain clients to continue using coordinates cards. Issuers would be permitted to define specific client groups, based on objective criteria and reported to the Commission, that may retain coordinates cards, though such transactions would not qualify as Reinforced Client Authentication.
Policy & regulationRules & requirementsCyber resilience
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2026-03-31•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has launched a consultation on amendments to minimum security and authentication standards for electronic transactions to permit certain clients to continue using coordinate cards during the transition to Reinforced Client Authentication. Issuers would define eligible client groups based on objective criteria such as accessibility or mobility constraints, notify the Commission with supporting justification and client numbers, and transactions using coordinate cards would not be considered authenticated through Reinforced Client Authentication.
Policy & regulationRules & requirementsCyber resilience
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2026-03-31•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles published its 2025 Annual Report and International Reserves Management Report, including audited financial statements and analysis of economic, monetary, external-sector and reserves developments. It reported provisional domestic growth of 5.1% in 2025 driven by tourism, fisheries and ICT, negative year-on-year inflation at end-December, and Gross International Reserves of USD 878.1 million and Net International Reserves of USD 727.9 million, both higher year on year, with net reserves above the IMF programme target. The Annual Report also includes the 2025 Access to Information Annual Report and a summary of the 2025 Board Evaluation Report.
Monetary policyMonetary policy assessments & outlooksActivity and performance reporting
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2026-03-31•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board’s 2025 annual report confirms completion of its disclosures project and the introduction of individual public inspection reports for each inspected firm, with first firm-specific reports in March 2026. CPAB reported a 23% significant findings rate across 120 inspected audit files, four restatements linked to significant findings, enforcement actions against 20 firms, and one denial of access to component auditor working papers in China. The expanded disclosure framework, including mandatory issuer-specific reporting to audit committees, applies to inspections starting after a March 24, 2025 rule change, and CPAB flagged 2026 decisions on regulatory interventions and a CEO transition to Sonny Randhawa.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2026-03-31•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board published its 2025 regulatory report, launching public firm-specific inspection reporting and summarising audit inspection and enforcement outcomes. CPAB reported significant findings in 27 of 120 audit files (23%), with particularly high rates at non-annually inspected firms and in first-year audits, four restatements since its 2024 report, and one denial of access to working papers in China. It also began mandating disclosure of issuer-specific significant findings to audit committees and reported 20 firms under enforcement actions, with decisions on future intervention expected in 2026.
SupervisionReviews, inspections & stress testsAuditing
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2026-03-31•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission’s Office of Investor Education and Assistance will use April’s National Financial Literacy Month to highlight financial planning tools and educational resources on Investor.gov. The campaign will focus on long-term diversified investing, debt management, emergency savings, tax-advantaged accounts, fraud avoidance, and retirement planning, supported by new materials and targeted outreach to military communities, older adults, and educators.
Financial literacy & educationFinancial literacy and education
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2026-03-31•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia held its policy rate at 15% and annual credit growth cap at 24% to sustain single-digit inflation, despite bank credit expanding 45.3% year on year by end-February. Headline inflation fell to 9.7%, while higher oil prices and Middle East tensions increased upside risks and prompted plans for more frequent policy reviews.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-31•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority took part in the annual IOSCO Africa and Middle East regional committee meeting to deepen coordination with peer regulators. Discussions focused on market developments, financial system resilience, the use of modern technologies and artificial intelligence in supervision, and stronger cross-border cooperation on emerging risks.
Policy & regulationCooperationCross-border cooperationSupervision process and methodologies
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam outlined strategic priorities for the Cooperative Bank of Vietnam at its 2025 member delegates congress, urging it to strengthen its role as apex bank for nearly 1,200 People’s Credit Funds and accelerate digital transformation. For 2026–2031, the Cooperative Bank is expected to align credit growth with safety and efficiency, focus funding on priority sectors such as agriculture and rural development, enhance supervision, and lead payment and digital banking infrastructure for the network. The congress elected new leadership for 2026–2031, appointing Nguyen Quoc Cuong as chair of the Board.
Policy & regulationGuidance & interpretationOther
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on a meeting between Governor Nguyễn Thị Hồng and the ASEAN+3 Macroeconomic Research Office as part of AMRO’s 2026 consultation with Vietnam, focusing on regional macroeconomic risks, Vietnam’s policy stance and cooperation. AMRO flagged risks from US tariff policy and Middle East-driven energy price volatility, recommended shifting monetary and fiscal policy from accommodative to neutral, and highlighted Vietnam as the region’s fastest-growing economy in 2025. The parties also discussed green energy transition, digital transformation and artificial intelligence, with SBV seeking deeper cooperation on information-sharing, AI adoption in banking supervision, and technical assistance and capacity-building.
Policy & regulationCooperationCross-border cooperation
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2026-03-31•Portugal•Bank of Portugal
The Bank of Portugal has maintained the countercyclical capital buffer at 0.75% of total risk exposure from April 1, 2026, continuing the rate in force since January. It applies to Portugal-headquartered credit institutions with exposures to the domestic private non-financial sector.
Policy & regulationRules & requirementsCapital adequacyMacroprudential policy and tools
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2026-03-31•Global•International Monetary Fund
The International Monetary Fund announced a staff-level agreement with Ecuadorian authorities on the Fifth Review under Ecuador’s 48‑month Extended Fund Facility, which, subject to Executive Board approval and confirmation of international partners’ commitments, would provide immediate access to about USD 394 million and catalyze further multilateral support. The IMF highlighted a strong rebound in real GDP in 2025, improved external and fiscal positions, corrective fiscal measures, and the meeting of key structural benchmarks on the mining sector’s fiscal regime and the Anti‑Money Laundering/Combating the Financing of Terrorism framework, alongside Ecuador’s return to international capital markets in January 2026.
Policy & regulationImplementation, projects & pilotsEconomic data and developmentsFinancial stability and systemic risk
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2026-03-31•Russia•Central Bank of Russia
The Central Bank of Russia published feedback on its paper on a National Digital Infrastructure of the Financial Market, noting broad support for its criteria on which components should be developed by the state versus businesses. Respondents called for more detail on infrastructure parameters, timelines and next steps, and stressed the need for transparent, equally accessible infrastructure, including for services based on the Faster Payments System, the digital ruble and Open APIs. Further deliberations will continue at the Advisory Board for Financial Market Digitalisation.
Policy & regulationImplementation, projects & pilotsCBDC
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2026-03-31•Russia•Central Bank of Russia
The Central Bank of Russia and the Russian Ministry of Finance issued joint recommendations for public companies to align management remuneration with long-term shareholder value. The information letter outlines preferred key performance indicators such as total shareholder return or market capitalisation, suggests long-term incentive horizons of three to five years with back-loaded payouts, and proposes a bonus pool cap of 2–5% of the issuer’s market value to support equity market capitalisation growth.
Policy & regulationGuidance & interpretationCorporate governance
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2026-03-31•Russia•Central Bank of Russia
The Central Bank of Russia’s National Financial Board reviewed Q4 2025 supervisory activities and AML/CFT/CFP measures supporting the digital ruble platform, and discussed actions to counter fraudulent transactions involving money mules and social engineering. It also considered initiatives on the rating industry and experimental legal regimes, assessed the independence and quality of audit firms for the Bank of Russia’s annual financial statements, and approved its 2026 Action Plan.
Policy & regulationReform agendas & prioritiesAML and CFTSupervision process and methodologies
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2026-03-31•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance has launched the Integral System for Claims Information and Analysis (SINIAS), a new platform for insurers to submit and consult loss-event and claims-related data, including reserves, payments and recoveries. The system aims to enhance traceability, operational efficiency in claims management and regulatory oversight, and will replace legacy reporting requirements, with voluntary use starting in June 2026 and mandatory reporting from January 2027.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2026-03-31•Russia•Central Bank of Russia
The Central Bank of Russia’s 2025 supervisory data show suspicious transactions fell 19% to RUB 72.6 billion and suspicious cash withdrawals dropped 25% to RUB 48.3 billion, mainly due to fewer card-based schemes and illegal shell-company transfers. Suspected fund siphoning abroad declined 5% to RUB 24.3 billion, supported by closer bank cooperation and the Know Your Customer Platform, with 97.1% of companies and entrepreneurs rated low-risk. The Bank also tightened controls on money mules through near real-time blocking, sharply reducing average transaction size and cutting suspicious mule-account activity several-fold.
Data & statisticsAML and CFT
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2026-03-31•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance announced that the Association of Latin American Insurance Supervisors has approved the United States National Association of Insurance Commissioners’ request to join as an Associate Member, aiming to deepen cooperation between Latin American and US insurance supervisors. The decision, presented during an “Insurance Week” session on global standards and future regulation, will be formalised through a welcome letter to the NAIC President and ratified at ASSAL’s next General Assembly.
SupervisionCooperationCross-border cooperation
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2026-03-31•Libya•Central Bank of Libya
The Central Bank of Libya said it is stepping up digital payments and foreign currency measures after a meeting with commercial banks and sector participants. The package includes a USD 2 billion allocation starting the following day for letters of credit, transfers and personal purposes, a planned USD 1 billion cash supply for foreign currency sales, and accelerated work on POS rollout and foreign currency account-to-account transfers under ONEPAY and LY PAY. Commercial banks and central bank departments were also told to extend working hours to process applications.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsForeign exchange policy and marketsLiquidity risk
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2026-03-31•Canada•Canadian Securities Administrators
The Canadian Securities Administrators has launched Project Tokenization under its CSA Collaboratory to examine tokenized financial products in Canada’s capital markets and their interaction with Canadian securities laws, aiming to support coordinated regulatory responses. The initial phase will assess opportunities and risks through stakeholder engagement, issue mapping, and targeted research, with potential later phases including a discussion paper and live testing of tokenized instruments and related infrastructure.
Policy & regulationImplementation, projects & pilotsTokenization
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2026-03-31•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission Director of Enforcement outlined a shift in enforcement priorities toward policing fraud, abuse, and manipulation, focusing on insider trading (including in prediction markets), market manipulation (especially in energy), market abuse and disruptive trading, retail fraud, and willful AML and KYC violations. He stressed that Commodity Exchange Act insider trading prohibitions apply to prediction markets and highlighted exchanges’ surveillance and contract-listing obligations. The Division plans a new Staff Advisory on Cooperation and Enforcement Manual updates, introducing a clearer declination pathway and a more binary cooperation framework requiring prompt self-reporting, full non-privileged disclosure, record preservation, and remediation.
EnforcementEnforcement framework
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2026-03-31•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York’s Board of Directors has appointed Jane Fraser, chair of the board and chief executive officer of Citi, as the New York District’s representative on the Federal Reserve Board of Governors’ Federal Advisory Council for a one-year term beginning January 2026. The council comprises one banking industry representative from each of the 12 Federal Reserve districts, meets quarterly with the Board of Governors to discuss economic and banking developments, and members typically serve three one-year terms.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-31•Croatia•Croatian National Bank
The Croatian National Bank reported on a joint conference with the European Investment Bank Group on building an “AI-ready” Croatian economy, where new EIB research showed that while 89% of Croatian firms are investing, only around one fifth systematically use generative artificial intelligence, below the European Union average in AI adoption. Speakers identified access to finance, skills shortages, fragmented data and regulatory uncertainty as key barriers, and highlighted financing, skills and policies as levers to accelerate AI use, while noting risks from overreliance on AI and labour market impacts.
Policy & regulationCooperationArtificial intelligenceMarket development
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2026-03-31•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority has published its Sustainable Finance Update Report 2026 and a discussion paper on environmental, social and governance rating services and data providers under its Sustainable Finance Programme. The report outlines 2025/26 progress across five pillars: green finance taxonomy, disclosure, market development, active ownership and consumer education. The discussion paper sets out preliminary observations on transparency, governance and conflicts of interest and reviews approaches in other jurisdictions to inform future sustainable finance regulation and supervision.
Policy & regulationImplementation, projects & pilotsESGDisclosures
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2026-03-31•South Africa•South Africa Financial Sector Conduct Authority
The South Africa Financial Sector Conduct Authority has appointed a curator, by agreement and without court intervention, for part of the financial services business of Johannes Lodewicus Du Plessis and JLD Investments CC under the Financial Institutions (Protection of Funds) Act. The curatorship, overseen by Aubrey Magerman of Magerman Attorneys under FSCA control, aims to protect clients who invested funds allegedly collected for equity trading with unrealistic return promises, while the FSCA’s investigation remains ongoing.
SupervisionInterventionsFraud and scams
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2026-03-31•Iceland•Central Bank of Iceland
The Central Bank of Iceland has published a working paper analysing the evolution and drivers of Icelandic trend inflation using a Bayesian model with stochastic volatility and time-varying persistence. It finds that while trend inflation has fallen and become more stable since the mid-1980s, most of the improvement in overall inflation performance reflects lower volatility and persistence in the cyclical component. The paper concludes that Iceland’s trend inflation remains more volatile than in other advanced economies, linked to less firmly anchored inflation expectations and their interaction with large global supply shocks.
Research
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2026-03-31•Montenegro•Insurance Supervision Agency of Montenegro
The Insurance Supervision Agency of Montenegro published its Q4 2025 Statistical Bulletin, reporting gross written premium of EUR 148.3m for 2025, up 10.5% year on year, settled claims of EUR 65.5m, up 9%, and a balance sheet total of EUR 370.3m, up 10.3%. Non-life premium was EUR 117.4m and life premium EUR 30.9m, with motor third-party liability the largest line, while long-term financial investments made up 61.9% of assets and provisions 61.2% of liabilities. Based on preliminary unaudited data, insurers posted aggregate pre-tax profit of EUR 13.9m, down 3.8%, with eight of nine insurers profitable.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Brazil•Central Bank of Brazil
The Central Bank of Brazil published updated Fiscal Statistics with data now available through February 2026. The release refreshes official fiscal data for the latest reference period.
Data & statisticsFinancial and market indicators
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2026-03-31•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency issued a final rule rescinding its recovery planning guidelines for insured national banks, federal savings associations, and federal branches with at least USD 100 billion in assets, removing related prescriptive expectations. The OCC still expects supervised institutions to maintain appropriate risk management and contingency funding plans, and confirmed the rule does not affect OCC-supervised banks with less than USD 100 billion in assets or community banks.
Policy & regulationRules & requirementsRecovery and resolution
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2026-03-31•France•France Autorite des marches financiers
The France Autorité des marchés financiers published a decision approving amendments to the operating rules of the MTS France multilateral trading facility.
Policy & regulationRules & requirementsMarket infrastructure
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2026-03-31•France•France Autorite des marches financiers
The France Autorité des marchés financiers has approved amendments to the operating rules of the LISE multilateral trading facility, including its registration as a small and medium-sized enterprise Growth Market. The decision concerns modifications to LISE’s rulebook under the authority’s framework for approved professional rules applicable to market infrastructures.
Policy & regulationRules & requirementsMarket infrastructure
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2026-03-31•United States•National Credit Union Administration
The National Credit Union Administration issued two conviction-based Orders of Prohibition in March 2026, permanently barring two former credit union employees from participating in the affairs of any federally insured depository institution. Daniel Johnson was convicted of bank fraud in the U.S. District Court for the Southern District of Indiana, and Jacqueline Burns was convicted of theft of property between USD 150,000 and USD 300,000 in the 10th District Court of Galveston County, Texas.
EnforcementSanctions & designationsFraud and scams
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2026-03-31•United States•Financial Industry Regulatory Authority
The Financial Industry Regulatory Authority has launched the Financial Intelligence Fusion Center, a secure portal for FINRA and member firms to share timely cybersecurity and fraud threat intelligence and coordinate responses. The platform collects, analyzes and disseminates threat information, incorporates input from government and private sector partners, and expands FINRA’s existing cybersecurity and fraud-related resources for member firms.
Policy & regulationImplementation, projects & pilotsCyber resilienceMarket abuse
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2026-03-31•Czech Republic•Czech National Bank
The Czech National Bank reported inflation near target in 2025 and a record koruna return on international reserves of CZK 253 billion (10.3%), but exchange rate losses produced an overall accounting loss of CZK 73 billion and an accumulated loss of CZK 350 billion. Reserves were CZK 3.6 trillion, with the CNB raising the equity share toward 30% by 2029 and gold holdings toward 100 tonnes by 2028. It also disclosed new data on managerial benefits and staff transport changes, and will keep adjusting reserve composition, managing costs and investing in AI, data tools and payment modernisation via its CNB Lab to eliminate accumulated losses and eventually create a reserve fund for profit transfers to the state budget.
Data & statisticsFinancial and market indicatorsMonetary policy decisions and developments
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2026-03-31•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has filed a criminal complaint against Mr. Nantawat Sumraunhant, a capital market auditor at Deloitte Touche Tohmatsu Jaiyos Audit Co., Ltd., for failing to comply with auditing standards in his audits of STARK Corporation Public Company Limited and key subsidiaries, and has revoked his approval as a capital market auditor for six years from 1 April 2026. The authority found serious deficiencies that resulted in insufficient audit evidence on key balance sheet and revenue items, which it said facilitated fraud and falsification of STARK’s financial statements and constituted an offense under Section 287 of the Securities and Exchange Act B.E. 2535 (1992).
EnforcementInvestigations & enforcement actionsAuditing
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2026-03-31•Europe•European Central Bank
The European Central Bank published a working paper assessing the impact of the EU’s Recovery and Resilience Facility on institutional quality in major recipient Member States using Worldwide Governance Indicators and a Bayesian synthetic control model. The paper finds early, economically meaningful improvements in Italy, while evidence for other large recipients is mixed and often statistically uncertain, and cautions that firmer conclusions will require more data given the programme’s ongoing nature and perception-based indicators.
Research
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2026-03-31•Europe•European Central Bank
The European Central Bank has published an Occasional Paper analysing the macroeconomic and global value chain effects of export controls on rare earth elements, using recent Chinese measures and disruption scenarios. The study finds that supply restrictions can generate output losses and cost-push inflation in importing economies, with particularly pronounced impacts on automotive, electronics, semiconductors and defence-related sectors. Losses are highly sensitive to the severity of controls and substitutability, ranging from 0.3%–0.6% of output under stringent partial restrictions to around 2% under near-total bans.
ResearchOther
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2026-03-31•Europe•European Central Bank
The European Central Bank published analysis from its Survey on the Access to Finance of Enterprises for the fourth quarter of 2025, examining euro area firms’ artificial intelligence adoption and investment plans. The study finds uneven but substantial AI uptake, with advanced users more likely to anticipate higher turnover, fixed-asset investment, wages and employment, and planning a larger share of total investment in AI than non-users and early-stage adopters.
ResearchArtificial intelligence
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2026-03-31•Europe•European Central Bank
The European Central Bank published the disaggregated Eurosystem financial statement as at 27 February 2026, showing total assets and liabilities of EUR 6,226,783 million by national central bank. Key assets include EUR 3,988,512 million in securities of euro area residents in euro (EUR 3,655,897 million held for monetary policy), EUR 279,479 million in gold and gold receivables, and EUR 508,169 million in foreign-currency claims on non-euro area residents. Banknotes in circulation were EUR 1,605,953 million and liabilities to euro area credit institutions related to monetary policy operations were EUR 2,574,238 million. Capital and reserves can be negative for individual national central banks due to accumulated losses.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Spain•Bank of Spain
The Bank of Spain reported that Spain’s general government debt under the Excessive Deficit Procedure methodology stood at 100.7% of gross domestic product in the fourth quarter of 2025, down 1 percentage point year-on-year and the lowest level since 2020, with nominal debt at EUR 1,698bn. Central government accounted for EUR 1,563bn (92.6% of gross domestic product), autonomous communities EUR 342bn (20.2%), local governments EUR 21bn (1.2%) and social security EUR 136bn (8.1%), with 94.8% of the stock in long-term debt.
Data & statisticsEconomic data and developments
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2026-03-31•Spain•Bank of Spain
The Bank of Spain published its monthly balance of payments advance for the 12 months to January 2026, reporting Spain’s net lending capacity at 3.9% of GDP (EUR 66.2bn), with a current account surplus of 2.9% of GDP (EUR 49.1bn) and a tourism balance of 4.2% of GDP. Compared with January 2025, net lending and the current account surplus narrowed, while the 12‑month financial account balance excluding the Bank of Spain fell to 2.6% of GDP (EUR 44.3bn), mainly due to lower “other investment” and direct investment, partly offset by higher portfolio investment.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Israel•Bank of Israel
The Bank of Israel reported that foreign exchange reserves rose by USD 14.9 billion in 2025 to USD 229.5 billion, with the reserves portfolio delivering a 7.9 percent return against its currency benchmark but a -2.5 percent return in shekel terms due to a 9.6 percent shekel appreciation. Revised reserve management guidelines took effect at end-2025, tightening safety and liquidity constraints while moderately expanding the CVaR5% risk budget and scope to invest in risk assets, resulting in a portfolio allocated 65 percent to government bonds, 25 percent to equities and 10 percent to corporate bonds, with lower overall volatility but higher tail risk.
Data & statisticsFinancial and market indicatorsMonetary data
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2026-03-31•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
Central Bank of Bosnia and Herzegovina Governor Jasmina Selimović delivered a keynote at the international “Central Banking” conference in Kuala Lumpur on structural changes in the global financial system, highlighting digital money, private digital currencies, and the need to safeguard monetary sovereignty and institutional resilience. She stressed integrating Bosnia and Herzegovina into the European financial framework, more resilient and diversified foreign exchange reserve management with a larger role for gold, and responsible use of artificial intelligence in central banking. The Central Bank was also named this year’s winner of “Central Banking” magazine’s award for initiative in financial stability.
OtherMonetary policy decisions and developments
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2026-03-31•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has issued guidance urging audit firms to strengthen information security and IT risk management in light of data leaks. Drawing on practices at public interest entity audit firms and De Nederlandsche Bank’s Good Practice on Information Security, the guidance highlights improvements in ICT risk processes, continuity and configuration management, supplier oversight, and incident learning. The authority says IT risk control will remain a supervisory priority and that it will continue engaging with the sector.
Policy & regulationGuidance & interpretationCyber resilience
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2026-03-31•Iraq•Central Bank of Iraq
The Central Bank of Iraq has announced two seven-day auctions for 21 April 2026: an Islamic certificate of deposit auction (ICD813) for Islamic banks and a Central Bank remittance auction (W505) for conventional banks at an interest rate of 5.25%. Eligibility for both is based on each bank’s Iraqi dinar private sector deposit base, with a minimum threshold of IQD 50 billion and bid sizes between IQD 50 billion and IQD 500 billion, calculated using deposit data as of 26 March 2026 submitted via the BSRS system.
Monetary policyMonetary policy instruments & operationsMonetary policy operations
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2026-03-31•Croatia•Ministry of Finance (Croatia)
Croatia’s Ministry of Finance reported that Deputy Prime Minister and Finance Minister Tomislav Coric met the European Investment Bank’s new vice-president and his predecessor to review bilateral cooperation and the economic outlook at a Croatian National Bank–EIB conference on artificial intelligence. Discussions covered past and prospective cooperation, including in health and energy. The ministry said the EIB Group has financed EUR 8.33 billion of projects in Croatia from 2001 to end-2025, alongside European Investment Fund investments of EUR 715 million via funds and EUR 1.3 billion in guarantees.
Policy & regulationCooperationArtificial intelligenceMarket development
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2026-03-31•Dominican Republic•Central Bank of the Dominican Republic
In its March 2026 decision, the Central Bank of the Dominican Republic kept the monetary policy rate at 5.25%, with the 1-day repo rate at 5.75% and the overnight deposit rate at 4.50%, as it balanced higher Middle East-related uncertainty and oil prices against recovering domestic activity and inflation expectations anchored to target. Annual inflation was 4.67% in February and core inflation 4.76%, both within the 4.0% ± 1.0% target range, and the central bank said it expects 2026 inflation to close within target while continuing to monitor global conditions and act as needed.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-31•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro’s Council approved the 2025 financial statements, confirmed by an unqualified external audit opinion, and decided to transfer EUR 7.8 million of the EUR 19.5 million net profit to the state budget, with the remainder to reserves. The Council also adopted a draft law amending the Payment System Law to align with the EU acquis, maintained the countercyclical capital buffer rate, revoked Foldana Financial LLC’s licence, and reviewed supervisory materials including quarterly and annual bank reports and bankruptcy proceedings.
Policy & regulationRules & requirementsFinancial benchmarks
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2026-03-31•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro has signed a licensing agreement with the European Payments Council to introduce a domestic instant payment scheme aligned with Single Euro Payments Area standards under the TIPS Clone project. Montenegro becomes the first Western Balkans country to secure the framework for SEPA-standard instant payments, with implementation mirroring the Eurosystem’s TARGET Instant Payment Settlement service and the Bank of Italy as technical provider. The system will enable near-instant, 24/7 payments with lower costs and greater interoperability with the European payments market.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-03-31•Serbia•National Bank of Serbia
The National Bank of Serbia published an overview of global financial market developments for 23–27 March 2026, noting euro depreciation against the US dollar, higher long-term US and German government bond yields, and weaker US and euro area preliminary March composite PMI readings. The report highlights European Central Bank communication indicating no urgent need for rate increases and lower median inflation expectations, alongside modestly higher Brent crude prices and a decline in gold. It also notes that after the escalation of the Middle East conflict, Central and Eastern European currencies weakened against the euro, local-currency bond yields rose sharply, and yields on 10-year euro-denominated Eurobonds, including Serbia’s 2036 issue, increased.
Monetary policyMonetary policy assessments & outlooksFinancial and market indicatorsForeign exchange policy and markets
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2026-03-31•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg has published a research paper on Luxembourg-domiciled private market funds, constructing a new database to assess their scale, structure and potential financial stability risks. The study estimates total net assets at EUR 1.61 trillion at end-2024, with closed-ended vehicles managing over 80% of assets and non-directly supervised structures accounting for around two-thirds, and finds activity is largely driven by private equity and real assets, with asset growth linked to equity markets, exchange rates and global interest rates.
ResearchOther
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2026-03-31•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has issued a sanctions notice after the UN Security Council Committee added Hamidah NABAGALA (QDi.439) to the ISIL (Da’esh) and Al‑Qaida sanctions list and updated the UN Consolidated List, which applies in Guernsey via UK and local regulations. Businesses must screen for links to designated persons, immediately freeze relevant funds and assets, avoid making funds or economic resources available to them except under permitted licences, and report any matches to the States of Guernsey Policy & Resources Committee and the Commission in line with statutory and Handbook Rule 12.37 obligations.
Policy & regulationGuidance & interpretationSanctions list update
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published balance of payments statistics for Q4 2025, showing the current account deficit narrowed year on year by USD 229.8 million to USD 484.5 million, or 4.6 percent of GDP, and by USD 803.9 million to USD 1,008.4 million, or 2.6 percent of GDP, for 2025 as a whole. The improvement was driven mainly by a higher services surplus and increased current transfers, while the goods deficit widened and the current account gap was predominantly financed by net foreign direct investment of USD 374.4 million, or 3.5 percent of GDP.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published updated gross external debt statistics, compiled under the International Monetary Fund’s External Debt Statistics Guide and harmonised with balance of payments data. Georgia’s gross external debt stood at USD 26.9 billion (70.4% of GDP) at 31 December 2025, with net external debt at USD 12.6 billion (33.1% of GDP), and the National Bank of Georgia’s external liabilities declining to USD 780.9 million.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Georgia•National Bank of Georgia
The National Bank of Georgia published updated statistics on Georgia’s international investment position, reporting a net IIP of USD -32.3 billion (GEL -87.1 billion) as of December 31, 2025, equivalent to -87.7% of annual GDP and a deterioration of USD 2.5 billion year on year. International assets rose to USD 19.9 billion (GEL 53.7 billion), while international liabilities increased to USD 52.3 billion (GEL 140.8 billion).
Data & statisticsBalance of payments and other external statistics
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2026-03-31•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported its seasonally adjusted monthly House Price Index showed U.S. house prices rose 0.1% in January and 1.6% year-on-year, with December’s change revised from 0.1% to 0.3%. Regional monthly changes ranged from -0.7% in the West South Central division to +1.7% in the East South Central division, and 12‑month changes from -0.8% in West South Central to +4.4% in East North Central. The agency will introduce an Expanded-Data House Price Index that broadens coverage from 50 to over 400 metropolitan areas.
Data & statisticsEconomic data and developments
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2026-03-31•Türkiye•Banking Regulation and Supervision Agency
The Banking Regulation and Supervision Agency of Turkey published its February 2026 Banking Sector Monthly Bulletin, providing key financial data regularly reported by institutions under the Banking Law and related regulations. The release supports the authority’s supervisory transparency and public information objectives.
Data & statisticsSupervisory data
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam set strategic priorities for the Cooperative Bank of Vietnam for 2026–2031 at its 2025 member delegates congress, which elected a new Board of Directors and Supervisory Board and appointed Nguyen Quoc Cuong as Chair. SBV directed the apex bank for nearly 1,200 People’s Credit Funds to align with SBV’s direction, pursue safe, effective credit growth in priority sectors like agriculture and rural development, strengthen inspection and supervision, resolve weak funds, and lead digital transformation and governance improvements. SBV also presented emulation flags and commendations, and the new leadership pledged to embed this guidance into the bank’s five-year strategy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-31•Europe•European Systemic Risk Board
The European Systemic Risk Board said systemic risks in the EU remain elevated and have risen since November, driven by the escalating Middle East conflict, energy price volatility, bond market repricing, equity declines and high cyber risk. It warned that prolonged conflict could trigger disorderly asset price corrections, tighter financing, and higher credit and sovereign risks, with vulnerabilities in some investment funds and private markets amplifying stress. The General Board also set priorities for its response to the European Commission’s consultation on banking competitiveness, published the 55th risk dashboard and reappointed Professor Richard Portes to the Advisory Scientific Committee until March 2030.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMarket risk and volatility
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2026-03-31•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has published a research paper under the Bilateral Assistance and Central Bank Capacity Building programme analysing how liquidity conditions influence volatility in the overnight interbank interest rate and setting out policy recommendations. Prepared jointly with the Swiss State Secretariat for Economic Affairs and the Geneva Graduate Institute and released on both institutions’ platforms, it forms part of an ongoing research collaboration the central bank plans to continue.
ResearchOther
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2026-03-31•Europe•Committee on Economic and Monetary Affairs
The European Parliament’s Economic and Monetary Affairs Committee will hold a public hearing on the role of pension funds and insurers in mobilising long-term capital, with input from sector experts, EIOPA and Better Finance. The discussion will examine conditions for these institutions to thrive within the Savings and Investments Union and Draghi report context, and is linked to ongoing reviews of the Institutions for Occupational Retirement Provision Directive and the Pan-European Personal Pension Product Regulation, plus a briefing on their potential to fund riskier investments and support EU capital markets.
Policy & regulationReform agendas & prioritiesMarket development
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2026-03-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia’s Annual Report 2025, Economic and Monetary Review 2025 and Financial Stability Review for Second Half 2025 confirm a resilient financial system supporting the economy. The central bank reported 2025 GDP growth of 5.2% with 1.4% inflation and projects 2026 GDP growth of 4%–5% and headline inflation of 1.5%–2.5%. It highlighted strong capital, liquidity and asset quality, sectoral reforms including the Consumer Credit Act, and enhanced anti-fraud and financial literacy initiatives. The Annual Report shows total assets of MYR 602.22 billion, net profit after tax of MYR 12.45 billion, MYR 5 billion in dividends to the Government, and ongoing work on the post-2026 financial sector blueprint.
Monetary policyMonetary policy assessments & outlooksEconomic data and developmentsMonetary policy decisions and developmentsFinancial stability and systemic risk
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2026-03-31•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia published its IMF Special Data Dissemination Standard detailed breakdown of international reserves, confirming that Malaysia’s reserves remained usable as at end-February 2026. Official reserve assets were USD128,298.1 million, with pre-determined short-term outflows of USD10,240.0 million, net short forward positions of USD21,211.3 million and contingent short-term net drains of USD847.2 million in Government guarantees of foreign currency debt due within one year.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority published Bulletin Issue 01/2026, featuring an article titled “The Hong Kong Bond Market in 2025.” The article is available for viewing and download on the Hong Kong Monetary Authority website.
ResearchMarket development
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has published analytical data on the Hong Kong Special Administrative Region’s foreign currency reserves and liquidity as at end-February 2026, using the International Monetary Fund’s Special Data Dissemination Standard (SDDS) template. The authority reiterated that it issues four Exchange Fund data press releases each month, comprising three SDDS monetary data releases and a separate release on the Exchange Fund’s abridged balance sheet and currency board account.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported that in February 2026 total deposits with authorized institutions rose by 0.9% and total loans and advances increased by 0.6%, lifting the Hong Kong dollar loan-to-deposit ratio to 72.4%. Hong Kong dollar deposits declined by 0.2% while foreign currency deposits rose by 1.7% and renminbi deposits increased by 3.6% to RMB 1,029.3 billion. Hong Kong dollar M2 and M3 both rose modestly in February and 2.1% year on year, while seasonally adjusted Hong Kong dollar M1 increased 12.6% year on year.
Data & statisticsMonetary data
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority published its February 2026 residential mortgage survey, reporting month-on-month declines in mortgage applications, approvals and loan drawdowns, while the outstanding mortgage book continued to edge higher and delinquency indicators remained low. Total approved mortgage loans fell 10.8% to HKD 29 billion and loans drawn down dropped 24.4% to HKD 16.4 billion, as primary and secondary market approvals weakened and refinancing approvals rose.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-31•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert on scams involving fraudulent websites and internet banking login screens impersonating The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank and OCBC Bank (Hong Kong). It reiterated that banks do not send embedded hyperlinks for transactions or request sensitive information via phone, email or SMS, and advised affected individuals to contact the bank and report cases to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2026-03-31•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported on a delegation visit to Japan to deepen regulatory cooperation with the Japan Financial Services Agency and the Securities and Exchange Surveillance Commission in support of cross-border investment and financial sector digitalisation. The authorities discussed technical assistance for Kazakhstan’s stock market development programme to 2030 and new securities market law, and signalled readiness to sign a memorandum of understanding on information exchange, financial stability consultations, supervision, consumer protection, and adoption of international best practices.
Policy & regulationCooperationCross-border cooperation
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2026-03-31•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing met Monetary Authority of Macao Administrative Committee Chair Huang Shanwen to discuss recent domestic and international economic and financial conditions. The authorities exchanged views on deepening capital markets cooperation between mainland China and Macao during the 15th Five-Year Plan period, including support for Macao’s integration into national development and economic diversification.
Policy & regulationCooperationCross-border cooperation
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2026-03-31•China•Central Bank of the Republic of China
The Central Bank of the Republic of China’s February 2026 statistics showed a sharp year-on-year rise in money market activity, with average daily interbank lending up 87.1% to CNY 429.32 billion and interbank bond repo trading up 52.9% to CNY 7.4 trillion, while short-term funding rates stayed broadly stable. Government and corporate bonds saw net financing of CNY 1.40138 trillion and CNY 152.18 billion, taking total bond custody to CNY 198.9 trillion, including CNY 3.4 trillion held by foreign institutions. The interbank bond market remained concentrated in corporate credit bonds, with the top 50 investors holding 53.7% and accounting for 61.1% of trading.
Data & statisticsMonetary data
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2026-03-31•China•Central Bank of the Republic of China
The People’s Bank of China held a televised meeting on its 2026 survey and statistics work, prioritising a stronger integrated financial statistics framework, completion of reporting on the financial “Five major articles” and local government financing vehicle debt, and tighter data-quality controls to support macroeconomic management and risk prevention. Building on its 2025 rollout of a “1+N” statistical system and expanded use of the national financial basic database, the central bank will continue core monetary and structural statistics while enhancing analytical use of the database and maintaining strict controls to uphold rigorous, standardised financial statistics.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2026-03-31•China•Central Bank of the Republic of China
The People's Bank of China reported that Deputy Governor Xuan Changneng held separate meetings with BlackRock Vice Chairman Philipp Hildebrand and Citi Group International business Chief Executive Officer An Licheng during the China Development Forum. The parties exchanged views on current economic and financial conditions in China and globally, as well as on the opening-up of China’s financial sector.
Monetary policyOtherCross-border cooperation
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2026-03-31•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Supervisory Commission reported that life insurers’ premium revenues from new foreign-currency denominated policies rose 115% year-on-year to NT$69.536 billion as of end-January 2026. Traditional insurance products accounted for NT$59.620 billion (86% of the total), up 119% year-on-year, while investment-linked products reached NT$9.916 billion (14% of the total), up 94% year-on-year.
Data & statisticsFinancial and market indicators
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2026-03-31•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a conference for state capital representatives and supervisory boards at enterprises and credit institutions under its management, setting expectations on exercising ownership rights, strengthening oversight, and improving state capital efficiency, while updating its internal framework for managing and investing state capital. Governor Nguyễn Thị Hồng urged them to fix constraints and prioritise organisational streamlining, safe credit growth to priority sectors, charter capital increases, stronger internal controls, and better non-performing loan management. SBV is seeking internal comments on a draft decision to replace its existing framework and is preparing draft decrees on state capital management at Vietnam Deposit Insurance and on the financial mechanism for credit institutions.
Policy & regulationRules & requirementsMandate change
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2026-03-31•South Korea•Ministry of Economy & Finance (South Korea)
South Korea’s Ministry of Economy and Finance announced National Assembly approval of amendments to the Framework Act on Supporting Supply Chain Stabilization for Economic Security, expanding the Supply Chain Stabilization Fund’s eligible investments, diversifying funding sources to include private contributions, easing pre-emptive rights on equity disposals, and revising fund governance. The ministry also highlighted a KRW 1.5 trillion special support programme to address Middle East-related impacts, including extended loan maturities, preferential interest rates of up to 2.3 percentage points, and faster support assessments for firms handling high-dependence economic security items.
Policy & regulationRules & requirementsOther
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2026-03-31•Japan•Ministry of Finance (Japan)
Japan’s Ministry of Finance reported that it conducted no foreign exchange intervention operations between 26 February 2026 and 27 March 2026. The total intervention amount over this period was JPY 0.
Data & statisticsForeign exchange policy and markets
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2026-03-31•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation published its 2025 annual report and audited financial statements, highlighting total comprehensive income of GBP 1.3 million and reserves of GBP 49.2 million, supported by cost reductions and deferred spending. The report details 2025 technical delivery by the International Accounting Standards Board and International Sustainability Standards Board, noting their standards are complementary but not required to be applied together. The Trustees will continue to oversee the organisational transformation programme in 2026, including restructuring, cost reviews and a refresh of the Foundation’s medium- to long-term strategy.
Institutional developmentMandate & organizational structureAccounting and financial reporting
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2026-03-31•United Kingdom•Prudential Regulation Authority
The UK Prudential Regulation Authority has finalised the Financial Services Compensation Scheme Management Expenses Levy Limit for 2026/27 at GBP 113 million, confirming its consultation proposals unchanged. The limit comprises a GBP 108 million management expenses budget and a GBP 5 million unlevied reserve, applies to all levy-paying firms authorised by the Prudential Regulation Authority and the Financial Conduct Authority, and will be offset by a forecast GBP 2.5 million underspend from 2025/26.
Policy & regulationRules & requirementsPrudential risks
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank has released an updated online-only Tax Chronology of South Africa covering tax, duty and levy rates and related policy parameters over 1979–2026. The supplement consolidates time series across major tax headings and reflects selected 2026 Budget measures, including adjustments to personal income tax brackets and rebates, medical tax credits, tax-free savings limits, VAT registration thresholds and exchange control limits. It also notes plans to publish draft regulations to implement the capital flow management framework and a future crypto assets framework for cross-border activities, alongside Reserve Bank operational reforms to reduce administrative burden.
Data & statisticsTaxation
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank released updated statistical tables in its March 2026 Quarterly Bulletin, covering balance of payments, gross value added, household consumption and selected national accounts indicators through 2025. The data show a 2025 current account deficit of ZAR 35,222 million, a trade balance of ZAR 212,084 million and 0.4% quarter-on-quarter GDP growth in 2025 Q4 at constant 2015 prices, with household consumption up 1.2% and gross fixed capital formation up 1.3%.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank published updated gross external debt statistics showing total gross external debt rose to USD 200,307 million at end-December 2025, from USD 193,047 million at end-September 2025 and USD 168,354 million at end-December 2024. General government accounted for USD 98,233 million, entirely long-term and mainly in debt securities, while deposit-taking corporations excluding the central bank held USD 43,510 million, predominantly short-term, with the remainder across direct investment, public corporations, other sectors and the central bank.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•South Africa•South African Reserve Bank
The South African Reserve Bank reported that South Africa’s positive net international investment position (IIP) declined from a revised ZAR2,362 billion at end September 2025 to ZAR1,988 billion at end December 2025, as foreign assets edged down and foreign liabilities increased. Foreign assets fell 0.1% to ZAR10,314 billion while foreign liabilities rose 4.5% to ZAR8,325 billion, driven mainly by valuation effects from higher domestic equity prices and a stronger rand, reducing the net IIP from 31.3% to 26.0% of GDP.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market joined the presentation of a study on corruption risks in residential property investment and endorsed its use as a roadmap to strengthen investor protection and supervision in housing finance. The study highlighted gaps from 2022 legislative changes that let developers raise funds directly without adequate oversight, weak requirements for developers, and unclear supervisory powers. The Commission also backed integrating its registers with those of the State Inspectorate for Architecture and Urban Planning to track investor cash flows versus construction progress and is reinforcing responsibilities and disclosure rules for managers of FFB and FON structures.
Policy & regulationReform agendas & prioritiesOther
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2026-03-31•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors published two reports concluding its multi-year assessment of the Holistic Framework for mitigating systemic risk in the insurance sector, finding strong progress across 16 major markets but persistent gaps in resolution capabilities and liquidity risk disclosure. The 2025 Targeted Jurisdictional Assessment of six group-wide supervisors for 10 Internationally Active Insurance Groups identified robust risk identification and macroprudential data collection but uneven group-level analysis, liquidity risk requirements and resolution frameworks. A parallel 2025 exercise for 10 jurisdictions previously assessed in 2022 noted strengthened resolution powers and recovery planning, while highlighting remaining weaknesses.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2026-03-31•Ireland•Central Bank of Ireland
The Central Bank of Ireland published opening remarks by Governor Gabriel Makhlouf at the inaugural Savings and Investment Forum, part of efforts to boost retail participation in capital markets and support the EU Savings and Investments Union agenda. He highlighted the scale of euro area deposits and the concentration of Irish household wealth in housing and bank deposits, alongside low direct retail market participation. Makhlouf identified psychological, knowledge and ecosystem barriers and stressed the need for suitable products, financial education and advice, and strong consumer protection, including balancing product flexibility with standardisation.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2026-03-31•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait published the thirteenth issue of its quarterly report series, titled “Opportunity Cost”, outlining an economic approach to decision-making and rational behaviour. The report discusses scarcity and choice, explains the concept of opportunity cost, and highlights the importance of efficient resource allocation in meeting needs and achieving objectives.
Financial literacy & educationOther
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2026-03-31•Denmark•National Bank of Denmark
The National Bank of Denmark reported that Denmark’s net international investment position rose to a record DKK 3,220 billion at end-2025, around five times higher than at end-first half 2024. The increase was driven mainly by valuation losses on foreign investors’ Danish equity holdings, notably a DKK 1,827 billion fall in foreign investments in Novo Nordisk shares, alongside a DKK 565 billion balance of payments surplus and gains on Danish holdings of foreign equities, partly offset by exchange-rate losses on dollar-denominated assets.
Data & statisticsBalance of payments and other external statistics
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2026-03-31•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority warned that extended warranties may be offered only by licensed and registered insurance companies. Unlicensed sellers may face fines of up to SAR 2 million, imprisonment for up to four years, or both.
SupervisionAlertsUnlicensed or unauthorized activity