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2026-03-26•Brazil•Central Bank of Brazil
The Central Bank of Brazil outlined a 2026 improvement agenda for Pix at the 28th plenary meeting of the Pix Forum, focusing on misuse of the "description" field and expanding Pix Automatic to salary accounts. A working group will address inappropriate messages in transactions, emphasizing user education and transparency. Additional initiatives include hybrid billing rules and enhancements to the Pix Special Return Mechanism.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2026-03-26•Australia•Reserve Bank of Australia
Reserve Bank of Australia Assistant Governor Christopher Kent discussed the Monetary Policy Board's assessment of financial conditions, highlighting recent policy tightening due to less restrictive conditions than estimated. He noted an upward shift in short-run neutral rate perceptions and the impact of the Middle East conflict on financial conditions and policy rate expectations. Kent also addressed the Australian dollar's appreciation and credit growth trends, indicating a shift from restrictive to slightly accommodative conditions.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-03-26•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Circular Letter CVM/SRE 3/2026, supplementing previous guidance for lead coordinators on registration applications for tax-incentivized securities offerings. The letter addresses new parameterised fields in the SRE system, handling multi-project offerings, and filing requests for private equity investment funds. Accurate tax benefit information is emphasized to ensure proper supervision by the Ministry of Finance and Federal Revenue Secretariat.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2026-03-26•United States•Federal Reserve Board
Federal Reserve Board Governor Lisa D. Cook discussed the Committee on Financial Stability's approach to assessing financial stability using the Financial Stability Report (FSR) and scenario analysis. The biannual FSR focuses on asset valuations, borrowing, leverage, and funding risk, with recent attention on large banks' increased lending to nonbank financial institutions. Cook highlighted the importance of novel scenario narratives and challenges posed by data gaps in validating assessments.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2026-03-26•United States•Federal Reserve Board
Federal Reserve Board Governor Stephen I. Miran advocated reducing the Federal Reserve’s balance sheet without reverting to a scarce-reserves framework. He highlighted benefits like reducing market distortions and better separating monetary from fiscal policy, suggesting a reduction of USD 1 trillion to USD 2 trillion. Miran noted that balance-sheet reduction could be contractionary and affect the federal funds rate path, with implementation potentially taking several years.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2026-03-26•United States•Federal Reserve Board
Federal Reserve Board Vice Chair Philip N. Jefferson outlined an updated U.S. economic outlook, noting growth and a balanced labor market, but persistent inflation above the 2 percent target and increased near-term uncertainty. He supported the Federal Open Market Committee's decision to maintain the federal funds rate, citing the current stance as neutral and responsive to labor market and inflation risks. Jefferson highlighted factors such as energy costs and geopolitical risks impacting growth and inflation, with future rate adjustments dependent on evolving data and risk assessments.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2026-03-26•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs minority released a letter from Ranking Member Elizabeth Warren to Federal Reserve chair nominee Kevin Warsh, questioning his actions during the 2008 financial crisis and his monetary policy stance in 2009-2010. The letter criticizes Warsh's role in arranging bailouts and his preference for low inflation over addressing high unemployment. Warren also seeks clarification on Warsh's interactions with President Trump and Epstein.
OtherLeadership change and appointments
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2026-03-26•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission has extended the relief exempting providers of generic financial calculators from certain licensing requirements under the Corporations Act 2001 until 1 April 2031. This new instrument replaces the expiring 2016 relief, maintaining the current approach deemed effective by ASIC. It provides relief from holding an Australian financial services licence with advice authorisation and from conduct and disclosure requirements for licensed providers.
Policy & regulationRules & requirementsRegulatory sandbox
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2026-03-26•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has decommissioned its Direct to APRA data submission system due to security vulnerabilities and is expediting the migration to the APRA Connect portal. Entities are advised to uninstall the D2A client and maintain data security controls, with interim reporting to continue under existing processes. APRA will provide further details on the transition to APRA Connect, which promises enhanced user experience and security.
SupervisionRegulatory reporting
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2026-03-26•Argentina•Argentina Securities Commission (CNV)
Argentina's Securities Commission (CNV) approved rules mandating a standardized "Ficha Única" for each open-end mutual fund, excluding those for qualified investors. The fact sheet, designed for retail investors, must include key fund information such as objectives, risk indicators, fees, and portfolio composition, and be published monthly on the management company's website.
Policy & regulationRules & requirementsDisclosures
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2026-03-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The Commissioner for the Prevention of Corruption at the National Bank of the Kyrgyz Republic lectured employees on the new Law on Combating Corruption. The session covered the law's goals, objectives, and main provisions, as well as current legislative requirements for combating corruption in the Kyrgyz Republic.
Policy & regulationGuidance & interpretationBribery and corruption
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2026-03-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined three individuals KGS 17,500 for unauthorized cash foreign currency exchange transactions in Bishkek. The transactions were conducted without a National Bank licence.
EnforcementInvestigations & enforcement actionsForeign exchange policy and marketsUnlicensed or unauthorized activity
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2026-03-25•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has released a draft Board resolution for public discussion to amend regulatory acts in line with new Kyrgyz legislation. The amendments aim to incorporate the requirements of the Law "On Consumer Credit" and the Law "On Amendments to Certain Legislative Acts of the Kyrgyz Republic on Banking Legal Relations."
Policy & regulationRules & requirementsRegulatory burden
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2026-03-25•Japan•Japan Financial Services Agency
The Japan Financial Services Agency has released a draft revision to the Comprehensive Supervision Guidelines for Financial Instruments Traders, aligning with updates to the Japan Securities Dealers Association’s self-regulatory rules. The amendments focus on investment solicitation and customer management by member firms.
Policy & regulationRules & requirementsSupervision process and methodologies
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2026-03-25•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported that its foreign-exchange cash resupply transactions from 9–25 March fully satisfied all bids, with supply exceeding demand, indicating no FX cash shortage. The 25 March transaction involved USD 50 million and EUR 10 million, with one bank participating and a demand of USD 40 million. These measures, initiated on 6 March after the illegal seizure of Oschadbank’s vehicles in Hungary, do not impact Ukraine’s international reserves.
Monetary policyMonetary policy instruments & operationsForeign exchange policy and markets
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2026-03-25•Japan•Bank of Japan
The Bank of Japan's working paper analyzes market perceptions of its monetary policy using survey data. Findings show minimal perceived policy response to inflation at the effective lower bound, increasing during rate hikes. Perceptions are state-dependent, with some expecting prolonged low rates and others stable long-term inflation expectations around 2%.
Research
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2026-03-25•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo hosted a World Bank Group delegation to review financial sector reforms, focusing on payments modernization, banking and insurance supervision, and financial inclusion. Discussions included the Financial Sector Development Project, Kosovo's SEPA integration, and updates on the Digital Financial Services Project. The World Bank Group pledged ongoing support through technical assistance and capacity building.
Policy & regulationImplementation, projects & pilotsCross-border cooperationFinancial stability and systemic risk
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2026-03-25•Mexico•CONDUSEF
Mexico’s National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) renewed Grupo Financiero Banorte’s protocol for serving older adults, emphasizing safer and more inclusive financial access. The renewal acknowledges Banorte's initiatives like biometric controls, remote support, and inclusive digital tools to enhance service for older customers. CONDUSEF noted that about one third of its complaints involve older adults, averaging nearly 3,000 cases monthly.
Policy & regulationGuidance & interpretationOther
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2026-03-25•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) will hold its fifth ordinary Board of Directors meeting of 2026 online to discuss draft regulations on insurance distribution, mutualist property protection, insurance cooperatives, and the sanctions framework. Key agenda items include draft CNSP resolutions on brokers, self-regulatory entities, and Mutualist Property Protection Operations, as well as the revocation and replacement of existing resolutions and circulars. The meeting will be broadcast live on SUSEP’s YouTube channel, with the agenda and video accessible on its website.
Policy & regulationRules & requirementsOther
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2026-03-25•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) announced the swearing-in of seven Board of Commissioners members, including Friderica Widyasari Dewi as Chair and Hernawan Bekti Sasongko as Vice Chair. Five members were selected through the House of Representatives' fit-and-proper process, while two serve ex-officio. The Board's responsibilities span capital markets, market conduct supervision, financial technology, and more.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-25•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has ordered the blocking of 14 websites for unlicensed financial activities, including four offering unauthorised investment services and ten providing unauthorised crypto-asset services. This enforcement action, under Italy's "Growth Decree" and the MiCAR framework, brings the total number of blocked sites to 1,622 since July 2019. Consob also emphasized investor due diligence and warned of evolving online fraud tactics.
EnforcementInvestigations & enforcement actionsFraud and scamsUnlicensed or unauthorized activity
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2026-03-25•Europe•European Parliament
The European Parliament will hold a joint debate on three legislative files to enhance depositor protection and expand EU bank failure laws, with a provisional agreement reached with member states. The measures aim to protect taxpayers by including more banks in the failure framework and harmonizing depositor protection across the EU. The debate with Commissioner Maria Luís Albuquerque is scheduled before the planned adoption on 26 March.
Policy & regulationRules & requirementsOther
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2026-03-25•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) reported that the banking industry remains solid with positive growth, despite negative outlook revisions by international rating agencies due to shifts in Indonesia’s sovereign credit outlook and global macroeconomic dynamics. January 2026 indicators showed robust credit and deposit growth, strong capital and liquidity ratios, and controlled non-performing loans. OJK will continue supervision to ensure prudent governance and risk management, coordinating with the Financial System Stability Committee to maintain stability.
SupervisionRisk monitoring & watch pointsAsset qualityCapital adequacyLiquidity risk
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2026-03-25•Jamaica•Bank of Jamaica
Bank of Jamaica Governor Richard Byles stressed strong corporate governance and risk management for sustainable profitability at the Caribbean CFO Conference. He highlighted resilience pillars like financial buffers, risk management, cyber security, and climate preparedness, warning against short-term earnings exceeding risk capacity. Byles noted Jamaica's improved financial stability framework and legislative efforts to resolve failing financial institutions without public funds, alongside plans for a "Twin Peaks" supervisory architecture.
Policy & regulationGuidance & interpretationCorporate governanceRisk management
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2026-03-25•United States•U.S. Department of the Treasury
The Financial Stability Oversight Council (FSOC) proposed new interpretative guidance on nonbank financial company designations, emphasizing an activities-based approach with entity-specific designations as a backstop. The guidance includes economic growth and security in risk analysis and mandates a cost-benefit analysis before designations. It also introduces a pre-designation "off-ramp" to enhance transparency and allow risk mitigation.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2026-03-25•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury's Financial Stability Oversight Council, chaired by Treasury Secretary Scott K. H. Bessent, reviewed financial stability and voted to publish proposed interpretive guidance on designating nonbank financial companies. The Council discussed banking sector developments, financial innovation, and household financial resilience, and received updates on regulatory reforms from key financial regulators.
Policy & regulationGuidance & interpretationFinancial stability and systemic riskArtificial intelligence
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2026-03-25•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has published supervisory observations from firms’ annual operational resilience self-assessments to reinforce compliance with its framework, highlighting stronger practices and areas needing improvement in impact tolerances, mapping, scenario testing, vulnerability management, communications and governance. In related joint material with the Bank of England and the Prudential Regulation Authority, the authorities set out effective practices for responding to and recovering from high-severity cyber disruption and signal they will continue requesting periodic self-assessments as firms reassess their ability to remain within impact tolerances.
SupervisionReviews, inspections & stress testsOperational risk and resilience
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2026-03-25•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City has launched interactive "LMI Data Books" to explore data on low- and moderate-income populations across its seven-state region. These tools provide county-level insights into demographics, employment, wages, and housing, supporting organizations serving LMI communities. Initial findings indicate slower wage growth for low- and moderate-wage jobs compared to higher-wage jobs, with housing price increases slowing and rents declining in LMI areas, except in some locations like Wyandotte County, Kansas.
Data & statisticsEconomic data and developmentsFinancial inclusion
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2026-03-25•Andorra•Ministry of Finance (Andorra)
Andorra’s Ministry of Finance has approved the 2026 issuance of euro coins with a total face value of EUR 6,039,160 under the 2011 Monetary Agreement with the EU, covering all circulation denominations and two commemorative EUR 2 coins. Minting has been awarded to Spain’s Fábrica Nacional de Moneda y Timbre – Real Casa de la Moneda, with 7,959,000 circulation coins, 60,000 units for each commemorative EUR 2 design, 7,000 presentation sets, and total minting and presentation expenditure of EUR 1,194,851.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2026-03-25•Global•International Monetary Fund
The International Monetary Fund has updated its views on designing and strengthening deposit insurance systems, emphasizing strong governance, mandatory bank membership, and coverage to protect most retail depositors. Key recommendations include ex ante funded insurance with public backstops, insuring foreign currency deposits, and expanding deposit insurance roles in bank resolution. The paper also addresses challenges such as shorter depositor access times and adapting to fintech products.
Policy & regulationInternational standards & recommendations
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2026-03-25•Zimbabwe•Securities & Exchange Commission of Zimbabwe
The Securities and Exchange Commission of Zimbabwe published the February 2026 GroWealth Unit Trust Report, setting out prices, fund sizes, investment terms and returns or yields for registered unit trust products. The data show mixed February performance, with many equity funds posting gains, gold funds declining and property funds split, while interest-bearing fund yields ranged from 8.00% to 20.01%. The report also notes that the Zimbabwe Stock Exchange All Share Index rose 0.86% in February and annual inflation eased to 0.1%.
Data & statisticsFinancial and market indicators
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2026-03-25•Global•IOSCO
The International Organization of Securities Commissions announced that the Monitoring Group has approved term extensions for members of the Public Interest Oversight Board.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-25•Jamaica•Jamaica Financial Services Commission
The Jamaica Financial Services Commission reminded overseas loss adjusters they must be registered under the Insurance Act, 2001 before working in Jamaica, and outlined a temporary registration regime for catastrophe-related work. Temporary Overseas Loss Adjusters may register for up to three months, limited to claims from Hurricane Melissa of 28 October 2025, and are subject to the Insurance Act and Regulations. The Commission also urged market participants to verify adjusters’ registration status and clarified it does not assure compliance with other laws.
Policy & regulationGuidance & interpretationLicence approval
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2026-03-25•Uganda•Uganda Capital Markets Authority
The Uganda Capital Markets Authority highlighted a capital markets education session at Makerere University Business School to improve student awareness of investment opportunities. The program covered government bonds, corporate bonds and unit trusts, with market intermediaries providing practical explanations of market operations and terminology. It forms part of CMA’s wider investor education agenda under its current strategic plan.
Financial literacy & educationFinancial literacy and education
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2026-03-25•Belgium•National Bank of Belgium
The National Bank of Belgium reported a reduced loss of EUR 1,521 million for 2025, down from EUR 3,679 million the previous year, with no dividends or allocation to the Belgian State. The improvement was due to a significant reduction in net interest expense, despite a fall in monetary income from Eurosystem pooling. The Bank anticipates continued pressure on its bottom line, projecting a cumulative loss of EUR 1.2 billion over five years, with profitability expected within that period.
Institutional developmentGovernance
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2026-03-25•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has begun recruiting for the Assistant Governor Financial Stability, a key leadership role crucial to the country's financial system stability. Angus McGregor will continue as Acting Assistant Governor Financial Stability, and Stan Christian as Acting Director Prudential Supervision during the recruitment process. The executive search is managed by Hobson Leavy, with an appointment anticipated in June 2026.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2026-03-25•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
U.S. Senator Elizabeth Warren expressed concerns about potential conflicts of interest involving Randall Guynn, the Federal Reserve’s new Director of the Division of Supervision and Regulation, due to his previous representation of large U.S. banks. In a letter, Warren requested details on any recusals, ethics guidance received, and compliance processes related to Guynn's role. The letter was published ahead of Guynn's testimony before the House Financial Services Committee.
Policy & regulationGuidance & interpretationCorporate governance
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2026-03-25•United States•U.S. Financial Services Committee
Republican Members of the U.S. Financial Services Committee have introduced proposals to reform the U.S. deposit insurance framework, focusing on banking stability and depositor confidence. Key measures include authorizing emergency transaction account guarantee programs and assessing increased insurance coverage for transaction accounts. These proposals build on previous reform efforts, including hearings and inquiries to the Federal Deposit Insurance Corporation (FDIC).
Policy & regulationRules & requirements
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2026-03-25•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee held a hearing on asset tokenization's impact on capital markets, focusing on regulatory implications and balancing innovation with investor protection and market integrity. Chairman French Hill emphasized tokenization's potential benefits, like increased efficiency and transparency, while questioning current securities laws' adequacy. The hearing aimed to identify regulatory gaps and inefficiencies that could risk or hinder market integrity and capital formation.
Policy & regulationReform agendas & prioritiesTokenization
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2026-03-25•Ghana•Bank of Ghana
The Bank of Ghana introduced a new Cyber and Information Security Directive (CISD) for the financial sector, updating its regulatory framework to enhance cyber defence and preparedness. The CISD succeeds the 2018 directive, addressing the evolved threat landscape due to digital transformation, cloud reliance, and AI-related risks. The central bank highlighted the importance of collaboration with industry and international partners in developing the directive.
Policy & regulationRules & requirementsCyber resilience
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2026-03-25•Brazil•Central Bank of Brazil
The Central Bank of Brazil released the January 2026 Regional Economic Activity Index (IBCR) dataset, including both observed and seasonally adjusted series.
Data & statisticsEconomic data and developments
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2026-03-25•Bermuda•Ministry of Finance (Bermuda)
Bermuda's Ministry of Finance reported on Premier and Minister of Finance David Burt's visit to Luxembourg to enhance bilateral relations in international finance, insurance, and investment. Meetings included discussions with Luxembourg's Prime Minister and Finance Minister, the European Investment Bank, and the Luxembourg Insurance and Reinsurance Association, focusing on technical support, investment partnerships, and maintaining Bermuda's Solvency II equivalence with the EU.
Policy & regulationCooperationCross-border cooperation
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2026-03-25•Vietnam•State Bank of Vietnam
The State Bank of Vietnam released General Secretary To Lam’s speech from the 14th Party Central Committee meeting, highlighting priorities for double-digit economic growth, macroeconomic stability, and inflation control. The speech emphasized substantive growth, effective resource use, governance reform, and a new development model focused on science, technology, and digital transformation.
Policy & regulationReform agendas & prioritiesOther
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2026-03-25•Belgium•National Bank of Belgium
The National Bank of Belgium published its annual climate-related disclosures for its non-monetary policy portfolios, outlining how it is reducing their climate impact and assessing climate-related risks and opportunities in line with its corporate social responsibility policy. The Bank reports progress towards targets under its Sustainable and Responsible Investment Charter, including lower total carbon emissions across sovereign and non-sovereign assets, declining carbon footprints in its corporate bond and equity portfolios, and an increase in thematic assets to 18.3% of the total.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2026-03-25•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported a significant rise in non-traditional fisheries and agricultural exports for January 2026. Fisheries exports surged 118.5% year on year to USD 168 million, driven by increased pota biomass availability, while agricultural exports grew 5.3% to USD 1,185 million, with notable increases in blueberries, avocados, and cocoa-based products.
Data & statisticsEconomic data and developments
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2026-03-25•Global•International Monetary Fund
The IMF's Executive Board concluded the 2026 Article IV consultation with Morocco, affirming its qualification for the Flexible Credit Line and maintaining the current access level. The consultation noted Morocco's stronger estimated 2025 growth of 4.9%, low inflation, and fiscal deficit improvements, with projections for continued growth and inflation stabilization. Directors supported Bank Al-Maghrib's policies and recommended further fiscal reforms, exchange rate flexibility, and enhanced monitoring of financial risks.
SupervisionRisk monitoring & watch pointsEconomic data and developments
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2026-03-25•Burundi•Bank of the Republic of Burundi
The Bank of the Republic of Burundi's Governor, Edouard Normand Bigendako, met with a World Bank delegation for a mid-term evaluation of the Burundi Digital Economy Foundations Support Project. The World Bank noted an 85% budget engagement rate for the fiscal year and both parties committed to expediting the project's completion to bolster Burundi's digital economy.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
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2026-03-25•United States•Federal Reserve Board
The Federal Reserve Board released the Federal Reserve System’s 2025 audited financial statements, with unqualified opinions and no material misstatements reported by the independent auditor. The statements cover the 12 Federal Reserve Banks, the Board, and a COVID-19 response-linked LLC, detailing assets, liabilities, and operations as of December 31, 2025. Audits also assessed internal controls over financial reporting for the Reserve Banks and the Board.
Data & statisticsAccounting and financial reporting
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2026-03-25•United Kingdom•UK Parliament
The UK Parliament reports that the National Insurance Contributions (Employer Pensions Contributions) Bill has returned to the House of Lords for consideration of Commons amendments. The bill proposes a NICs charge on employer pension contributions via salary sacrifice arrangements exceeding GBP 2,000 annually. Lords will review Commons' disagreements on amendments concerning SMEs, charities, social enterprises, and student loan repayments.
Policy & regulationRules & requirementsOther
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2026-03-25•Europe•European Central Bank
The European Central Bank released a presentation by Executive Board member Philip R. Lane on the euro area outlook, assessing baseline, adverse, and severe scenarios due to potential energy supply disruptions from the Middle East conflict. The analysis examines impacts on real GDP growth and Harmonised Index of Consumer Prices (HICP) inflation, assuming no additional policy interventions. The scenarios consider varying degrees of disruption, infrastructure damage, and volatility, using ECB-BASE and ECB-Global models.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2026-03-25•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond, in collaboration with Duke University and the Federal Reserve Bank of Atlanta, reported a positive U.S. economic outlook from The CFO Survey for Q1 2026, despite tariff policy uncertainties. Tariffs, labor quality, and demand remain top concerns, with firms maintaining demand and hiring plans. AI investments are rising, with expected productivity gains and shifts from routine to skilled roles, particularly in larger firms.
ResearchEconomic data and developments
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2026-03-25•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority introduced the Retirement Benefits Schemes (Amendment) Bill to Tynwald, aiming to modernize the Island’s pensions regulatory framework. The Bill seeks to enhance consumer protection, align with international standards, and boost sector competitiveness. The Authority's presentation and video detail the Bill's background, objectives, and the influence of stakeholder feedback on its development.
Policy & regulationRules & requirementsAML and CFTConsumer and investor protection
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2026-03-25•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners has formed a Market Conduct Regulation Modernization Working Group to review the market conduct regulatory framework. The initiative will assess the adequacy of current supervision in light of evolving insurer business models and practices, including AI and new distribution models. The project aims to enhance policyholder protection and improve framework efficiency and collaboration.
Policy & regulationReform agendas & prioritiesMarket development
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2026-03-25•Canada•British Columbia Securities Commission
The British Columbia Securities Commission has halted trading in Noveris Health Sciences Inc. securities due to unexplained fluctuations in trading volume and market price, and concerns over potential inconsistencies in the company's offering document and financial statements. Noveris's share price surged 423% on the Canadian Securities Exchange, with trading volumes significantly exceeding the prior average. The halt is in effect until 16 April 2026, with the possibility of extension.
SupervisionInterventionsMarket abuse
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2026-03-25•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) fined real estate developers 1014925 B.C. Ltd. and 0993137 B.C. Ltd., along with director Nirmal Singh Takhar, CAD 44,000 plus CAD 5,000 in enforcement expenses for not registering two developments and failing to submit assignments information in the Condo and Strata Assignment Integrity Register (CSAIR) as required by the Real Estate Development Marketing Act. CSAIR tracks assignment details for tax compliance and housing policy in British Columbia.
EnforcementInvestigations & enforcement actionsOther
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2026-03-25•Malta•Central Bank of Malta
The Central Bank of Malta reported that 1,097 counterfeit euro banknotes were withdrawn from circulation in 2025, a 29.9% annual decline. EUR 20 and EUR 50 notes represented 87.5% of the total, while overall counterfeiting remained negligible relative to the 30.22 million genuine notes in circulation.
Data & statisticsCurrency and cash management
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2026-03-25•Georgia•National Bank of Georgia
The National Bank of Georgia hosted a meeting with Governor Natia Turnava, Finance Minister Lasha Khutsishvili, and US and UK investors to discuss Georgia's macroeconomic outlook and investment climate. The discussions highlighted the well-capitalized and liquid Georgian banking sector and the development of the domestic corporate securities market. Investors expressed interest in capital-market opportunities, citing manageable inflation and strong macroeconomic indicators as attractive factors.
Monetary policyMonetary policy assessments & outlooksCross-border cooperation
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2026-03-25•Georgia•National Bank of Georgia
The National Bank of Georgia released interactive statistical press releases detailing trends in resident commercial banks' loan portfolios and deposits as of February 2026. These are accessible in the statistics section of its website.
Data & statisticsFinancial and market indicatorsSupervisory data
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2026-03-25•Georgia•National Bank of Georgia
The National Bank of Georgia hosted an International Monetary Fund mission for Article IV consultations, focusing on Georgia's macroeconomic conditions and financial stability. Discussions addressed global risks, including geopolitical tensions in the Middle East, and their potential impact on Georgia. The IMF team, led by Alejandro Hajdenberg, will conduct meetings with various NBG departments to review fiscal and monetary policies.
Policy & regulationCooperationEconomic data and developmentsFinancial stability and systemic risk
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2026-03-25•Global•International Monetary Fund
The IMF's Executive Board completed its Article IV consultation for the Slovak Republic, endorsing efforts to restore fiscal sustainability and advance reforms amid slowed growth and elevated inflation. Growth projections are modest, with 0.9% in 2026 and 1.8% in 2027, while inflation is expected to remain high at 3.4% in 2026. The Board emphasized the need for continued financial sector vigilance, macroprudential measures, and structural reforms to enhance growth potential.
Policy & regulationGuidance & interpretationEconomic data and developments
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2026-03-25•United Kingdom•Open Banking Limited
Open Banking Limited's Chair, Marion King, highlighted the evolution of UK open banking from a competition remedy to an innovation-driven model at Pay360 2026, emphasizing its economic impact and future priorities. The EY analysis projects significant economic benefits, with potential long-term annual gains of up to £43 billion. King also discussed progress on commercial Variable Recurring Payments and upcoming publications on AI's interaction with the Open Banking Standard.
Policy & regulationReform agendas & prioritiesOpen banking and finance
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2026-03-25•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance Regulator (ASF) released its third survey on Portugal's health insurance market, revealing stable coverage patterns and satisfaction levels since 2024. Coverage was highest for private emergency and general medicine, while dental services had the lowest coverage despite high usage. The survey highlighted that difficulty accessing National Health Service care remains a key driver for purchasing health insurance.
ResearchConsumer and investor protection
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2026-03-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued decisions on rulemaking, supervision, and licensing, including new procedures for inspections and investigations in capital and commodity markets. Key actions include a draft regulation on insider information disclosure, securities issuance registrations, and approvals of key function holders. The Commission also addressed amendments to existing regulations, registration of non-public issuances, and various appointments in compliance and risk management roles.
Policy & regulationRules & requirementsOther
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2026-03-25•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market participated in a training on investigating financial crimes involving virtual assets. The programme, supported by the UK Government, included blockchain analysis, crypto wallet operations, and digital forensics, using Crystal Blockchain software to trace cryptocurrency transactions.
Institutional developmentCooperation & capacity buildingCyber resilience
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2026-03-25•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's SBS has amended its consolidated supervision regulation for financial and mixed conglomerates to align with operational concentration limits. The amendments update definitions and set group-level financing exposure limits based on Tier 1 effective capital, capping related party financing at 25% for financial groups and 30% for insurance conglomerates. Total financing to a counterparty or connected counterparties is limited to 25% of the group's Tier 1 effective capital.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2026-03-25•Philippines•Central Bank of the Philippines
Bangko Sentral ng Pilipinas left the target reverse repurchase rate at 4.25 % on 25 March, pausing after 150 bp of cumulative cuts since April 2025 amid fragile growth and supply-driven inflation from Middle East conflict-related commodity shocks. The Board expects headline inflation to breach the 4 % ceiling in 2026 before easing in 2027 and pledged vigilance against second-round effects.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority issued a warning regarding alleged unauthorised virtual asset activity linked to www.poloniex.com, operated by Polo Digital Assets Ltd, which lacks authorisation under the Virtual Asset Service Providers Act, 2024. Polo Digital Assets Ltd was dissolved as of 1 January 2022 and is no longer a legal entity. The FSA advises consumers to verify the licensing status of virtual asset service providers and report any suspected unauthorised activity.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-03-25•Albania•Bank of Albania
Bank of Albania held the policy rate at 2.5 percent, with overnight deposit and lending facility rates unchanged at 1.5 percent and 3.5 percent, judging the stance adequate to sustain growth and return inflation to the 3 percent target by 2026. The Supervisory Council flagged surging oil prices tied to Middle-East tensions as a primary external risk and said it will respond swiftly if supply shocks threaten price stability.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•United States•Federal Reserve Bank of Cleveland
The Federal Reserve System released its 2025 annual financial statements for all 12 Federal Reserve Banks and the Board of Governors. The Federal Reserve Bank of Cleveland also published its statements and provided access to previous reports on its Annual Reports page.
Data & statisticsActivity and performance reporting
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2026-03-25•Global•International Monetary Fund
The International Monetary Fund (IMF) released an end-of-visit statement by Krishna Srinivasan, Director for the Asia Pacific Department, after a staff visit to Dhaka. The statement highlights discussions with senior policymakers on the need for ambitious policies and structural reforms to ensure macro-financial stability and inclusive growth. The IMF expressed readiness to assist Bangladesh and will continue dialogue during the IMF-World Bank Spring Meetings.
Policy & regulationGuidance & interpretationOther
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2026-03-25•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary emphasized the link between domestic food production investment and Hungary's economic sovereignty and stability. He noted inflation returned to the tolerance band at 1.4% in February, the forint strengthened against the euro, and foreign exchange reserves reached nearly HUF 60 billion, supporting financial market stability. Varga highlighted the completion of a new mill and hulling plant, enhancing local agricultural processing capacity.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2026-03-25•Hungary•National Bank of Hungary
The National Bank of Hungary is transferring its fine art collection to museums for public display as part of a review to focus on its core mandate and rationalize resource use. Governor Mihály Varga announced that artworks will be accessible at one museum in Budapest and 29 museums outside the city. The MNB has already loaned pieces to museums in Budapest, Debrecen, Székesfehérvár, and Karcag.
Institutional developmentCooperation & capacity buildingMandate change
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2026-03-25•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission published three anonymized enforcement decisions involving investment firm, audit and AML/CFT breaches. The sanctions included a formal reprimand and fines totaling EUR 25,000.
EnforcementInvestigations & enforcement actionsAuditingAML and CFT
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2026-03-25•Czech Republic•Czech National Bank
The Czech National Bank (CNB) sold its Plzeň building to V.D.O. Group s.r.o. for CZK 102.5 million as part of its strategy to manage its property portfolio and enhance digital client services. The sale, brokered by Cushman & Wakefield, followed a sealed-bid process and marks the CNB's exit from the property, which had not been used for cash processing since 2014. The CNB is also in the process of selling its building in Ústí nad Labem.
Institutional developmentOtherProcurement
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2026-03-25•Europe•European Central Bank
The European Central Bank's working paper examines how digital-only banks in the euro area transmit monetary policy compared to traditional banks. The study finds that digital banks adjust retail funding rates more swiftly during tightening cycles, leading to margin compression and slower lending growth, while loan-rate pass-through remains similar. The paper also highlights supervisory considerations due to the rate sensitivity of retail funding and the need for scenario and stress-testing frameworks to account for asymmetries in policy cycles.
Research
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2026-03-25•Europe•European Central Bank
The European Central Bank's Working Paper No 3205 examines the euro-denominated repo market's resilience during financial stress, using transaction-level data and network methods. The study finds that from 2021 to mid-February 2025, the market remained stable, with stress linked to lower repo spreads rather than reduced activity. The analysis reveals a core–periphery network structure, with increased bank-to-bank linkages driving connectivity during stress periods.
ResearchMarket infrastructure
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2026-03-25•Macao•Monetary Authority of Macao
The Monetary Authority of Macao joined the first joint meeting of financial supervisors from Guangdong, Hong Kong, Macao and Shenzhen to strengthen cooperation and support high-quality development of banking and insurance while safeguarding financial consumer rights. Discussions covered banking support for the Greater Bay Area International Innovation and Technology Centre, oversight of artificial intelligence and its safe application, the insurance sector’s role in urban governance and cross-border healthcare, and consumer protection.
SupervisionCooperationCross-border cooperation
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2026-03-25•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released findings from its Access to Financial Advice Review, highlighting barriers such as affordability and awareness, particularly affecting lower socio-economic and ethnic groups. The review identified structural and operational constraints in the sector and opportunities in technology-enabled advice models. The FMA plans further engagement with stakeholders and a thematic review of AI use in financial advice.
Policy & regulationReform agendas & prioritiesConsumer and investor protectionFinancial literacy and education
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2026-03-25•Spain•Bank of Spain
The Bank of Spain's Deputy Governor Soledad Núñez emphasized climate change as a critical factor influencing economic and financial conditions during a conference in Madrid. She highlighted the rising physical and transition risks, stressing the need for reliable climate data and improved risk assessment methodologies. Núñez also called for integrating climate considerations into central bank portfolio management to enhance financial-system resilience.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has postponed the applicability of intraday borrowing guidelines for mutual funds to 15 July 2026, addressing operational challenges raised by asset management companies. This deferral pertains to clause 4 of the 13 March 2026 circular, now incorporated as clause 5.9.1 of the SEBI Master Circular for Mutual Funds. The addendum was issued under section 11(1) of the SEBI Act, 1992, and regulation 77 of the SEBI (Mutual Funds) Regulations, 1996.
Policy & regulationRules & requirementsLending
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2026-03-25•India•Securities & Exchange Board of India
SEBI amended its Master Circular for Investment Advisers, allowing members of the Institute of Cost Accountants of India to conduct annual audits for SEBI compliance. These audits, due within six months of the financial year-end, can also be conducted by members of the Institute of Chartered Accountants of India or the Institute of Company Secretaries of India. SEBI also updated record-keeping requirements for compliance with client-level segregation under Regulation 22.
Policy & regulationRules & requirementsAuditing
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2026-03-25•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) amended its Master Circular for Research Analysts to include members of the Institute of Cost Accountants of India as eligible to conduct the annual compliance audit. The audit, verifying compliance with SEBI regulations, can now be performed by members of three professional institutes and must be completed within six months of the financial year-end. Research Analysts must publish the audit status on their websites and disclose any adverse findings.
Policy & regulationGuidance & interpretationAuditing
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2026-03-25•Laos•Bank of the Lao
The Bank of the Lao PDR reported on a meeting with the International Monetary Fund Capacity Development Office in Thailand to review progress on CDOT-supported technical assistance and plan upcoming work. CDOT introduced two new experts to support external sector statistics and monetary policy implementation, and both sides discussed preparations for the Bank of the Lao PDR to chair and co-host the 12th CDOT Advisory Committee Meeting in May 2026.
Policy & regulationCooperationOther
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2026-03-25•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported February 2026 estimates for core inflation at 4.19% and services sector inflation at 4.73%, based on consumer price index data. Despite strong domestic inflationary pressures, both inflation measures remain nearly unchanged, with core inflation 69 basis points higher than the December nowcast due to changes in statistical weightings. Both core and services inflation are slightly weaker compared to the previous year's levels.
Data & statisticsEconomic data and developments
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2026-03-25•Estonia•Central Bank of Estonia
The Supervisory Board of the Central Bank of Estonia approved the transfer of EUR 6.8 million, a quarter of last year's profit, to the state budget and endorsed the bank’s annual report. The board emphasized a long-term strategy to build capital reserves to align with the euro area central bank average. Additionally, the Governor and Deputy Governor provided updates on the euro area economy and the upcoming economic forecast.
Institutional developmentGovernance
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2026-03-25•Estonia•Central Bank of Estonia
The Central Bank of Estonia's Supervisory Board appointed Martti Randveer as Deputy Governor for a five-year term starting 7 June, coinciding with Ülo Kaasik's transition to Governor. The Executive Board will include Governor Kaasik and Deputy Governors Randveer and Andrus Alber. Randveer, with the central bank since 1996, has led the Economics and Research Department since 2011.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2026-03-25•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka kept the Overnight Policy Rate unchanged at 7.75% in its March 2026 review, saying low inflation provides room to absorb a significant domestic energy price increase linked to higher global energy prices and trade disruptions amid the Middle East conflict. It now expects inflation to reach the 5% target in Q2 2026 earlier than previously anticipated and remain around that level, while noting strong early-2026 economic recovery and a robust external sector despite elevated geopolitical uncertainty.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2026-03-25•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority has recognised India International Bullion Exchange (IFSC) Limited to operate in GIFT IFSC as both a Bullion Exchange and a Bullion Clearing Corporation, and has granted the clearing corporation Qualifying Central Counterparty status. IIBX is designated as a Market Infrastructure Institution under the Securities Contracts (Regulation) Act, the IFSCA Act and the IFSCA (Bullion Market) Regulations, 2025, and is subject to PFMI-based supervision.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2026-03-25•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has issued a market alert through its Market and Intermediaries Relations Superintendence, ordering the immediate suspension of public offers of securities intermediation services by SUN WAVE LLC. The firm, using brands such as Veloc Broker, Nyrion Broker, and Mundial Broker, was found soliciting Brazilian residents without CVM authorization. The suspension was enacted via CVM Declaratory Act 24.976.
SupervisionAlertsUnlicensed or unauthorized activity
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2026-03-25•Russia•Central Bank of Russia
The Central Bank of Russia has revised income verification standards for banks and microfinance organizations (MFOs) when calculating the debt service-to-income ratio (DSTI), effective 1 April 2026. Under Ordinance No. 7286-U, stricter documentation is required, with account statements only confirming specific income types and additional documents needed for other receipts. The simplified income declaration approach will be phased out by 1 July 2027, transitioning to confirmed income only.
Policy & regulationRules & requirementsLending
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2026-03-25•Russia•Central Bank of Russia
The Central Bank of Russia advised credit institutions to inform customers about transaction and remote service suspensions under cybersecurity and anti-money laundering rules. Banks should provide clear instructions for resolution, even if online banking access is suspended. If restrictions persist, banks must explain contestation procedures and guide customers listed in the regulator’s fraudulent transactions database on removal processes.
Policy & regulationGuidance & interpretationCyber resilienceAML and CFT
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2026-03-25•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) fined Familiam Asset Management Oy EUR 70,000 for failing to report 2,867 transactions on time and for delays in quarterly supervisory reporting under FINREP and IF frameworks. The omissions occurred between September 2021 and August 2023, with reporting delays in 2024 ranging from four days to two weeks. The penalty reflects the nature and duration of the omissions, with the firm's cooperation considered a mitigating factor; the decision is not legally binding and may be appealed.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2026-03-25•Canada•Payments Canada
Payments Canada outlined how its forthcoming Real-Time Rail (RTR) will modernize Canada’s payments infrastructure with always-on instant payments, ISO 20022-based rich data, embedded fraud controls and a roadmap for global interoperability. The commentary highlighted legislative changes in 2025 expanding Payments Canada membership to payment service providers, credit union locals and designated clearing houses, with eligible payment service providers potentially gaining direct RTR access.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsMarket development
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2026-03-25•South Korea•Bank of Korea
The Bank of Korea reported that its March 2026 Composite Consumer Sentiment Index fell 5.1 points from February to 107.0, reflecting weaker views on current and future domestic economic conditions and living standards. Expected household income eased while expected household spending was unchanged, and inflation expectations stood at 2.7% one year ahead, 2.6% three years ahead, and 2.5% five years ahead.
Data & statisticsEconomic data and developments
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2026-03-25•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission secured an interim injunction from the Court of First Instance against four individuals suspected of manipulating KNT Holdings Limited shares, freezing assets up to HKD 219 million. The injunction aims to preserve funds for potential compensation to affected investors and is part of broader enforcement related to a ramp-and-dump scheme. Three suspects face related criminal proceedings, with a trial set for April 2027, while the fourth is subject to an arrest warrant.
EnforcementInvestigations & enforcement actionsMarket abuse
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2026-03-25•Hong Kong•Hong Kong Securities & Futures Commission
Hong Kong Securities and Futures Commission announced the re-appointment of its CEO, Julia Leung, as Chair of the International Organization of Securities Commissions’ Asia-Pacific Regional Committee for a second two-year term starting May 2026. Leung's priorities include addressing online investment scams, digital assets, market developments, and cross-border cooperation. IOSCO regulates over 95% of global securities markets across more than 130 jurisdictions.
Institutional developmentLeadership change & appointmentsCross-border cooperation
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2026-03-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a 2.65% increase in Fixed Pay for its staff, with 1.35% allocated for high performers, following the 2026 annual pay review. Staff will also receive Variable Pay amounting to 20.04% of Total Pay based on 2025 performance. The adjustments were approved by the Financial Secretary, considering recommendations from the Governance Sub-Committee and sector pay surveys.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2026-03-25•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported on the first Guangdong-Hong Kong-Macao-Shenzhen Joint Financial Regulatory Meeting, aimed at enhancing cross-jurisdictional cooperation in banking and insurance sector development, financial market stability, and consumer protection. Hosted by the National Financial Regulatory Administration Guangdong Office, the meeting addressed industry developments, regulatory oversight of AI in banking, and cross-boundary medical insurance services.
Policy & regulationCooperationCross-border cooperation
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2026-03-25•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee assessed the financial system as stable, maintaining the countercyclical capital buffer at 2.5%. Systemically important banks have strong financial positions, but external risks from the Persian Gulf conflict are noted. Domestically, resilience is supported by tight capital requirements and low private sector debt, though construction sector debt has risen, prompting lenders to monitor risks.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2026-03-25•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Report 2026/1 maintains the countercyclical capital buffer rate at 2.5%, amid global uncertainties like geopolitical risks and surging commodity prices. Domestically, Iceland shows resilience with low government debt and strong external positions, though vulnerabilities persist in tourism and construction sectors. The report also details efforts to enhance financial infrastructure resilience, including a new incident centre and reorganisation of the operational security forum.
Research