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2026-03-20•Europe•European Central Bank - Banking Supervision
The European Central Bank (ECB) clarified its role in Greek banks' non-performing loan securitisations under the Hellenic Asset Protection Scheme, emphasizing limited involvement to case-by-case assessments of significant risk transfer. Monitoring special purpose vehicle ownership and enforcing disclosure obligations fall to national authorities. The Greek State guarantee under HAPS applies only to senior notes retained by originating banks, not mezzanine and junior notes held by third-party investors.
Policy & regulation Guidance & interpretation Securitization
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2026-03-20•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing the impact of major geopolitical events on international bank credit from 1977 to 2024. The study finds that geopolitical distance weakens cross-border banking activity, with negative events causing a 10–20% larger decline in credit between geopolitical blocs than within them. Cross-border and contingent exposures are more sensitive to geopolitical shocks than local affiliate lending.
Research Geopolitical risk
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2026-03-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held its third Party Committee Executive Committee conference for the 2025–2030 term to review Q1 2026 activities and discuss draft documents aligning Party resolutions with banking sector objectives. Chaired by Governor Nguyễn Thị Hồng, the meeting addressed leadership reports, action programmes for implementing national resolutions, and plans for developing the state-owned economy. Members agreed on the drafts, suggesting feedback incorporation to ensure alignment with higher-level programmes.
Institutional development Governance Leadership change and appointments
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2026-03-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) celebrated an alumni gathering for its "Key operations in commercial bank management" training programme, emphasizing continued collaboration with Luxembourg and ATTF. Since 2005, the initiative has trained approximately 400 SBV staff, focusing on technical expertise, governance, and international banking standards. The SBV plans to strengthen the alumni network and explore deeper cooperation in specialized finance and capital market development.
Policy & regulation Implementation, projects & pilots Other
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2026-03-20•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 the Republic of Kazakhstan approved Xie Zhibin's appointment to the Board of Directors of JSC Altyn Bank, a subsidiary of China CITIC Bank Corporation Limited.
Supervision Authorisations & approvals Licence approval
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2026-03-20•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,176 examines the UK buy-to-let mortgage market's response to a significant interest rate rise, revealing that specialist lenders concentrated originations and adjusted pricing strategies to support credit availability. Specialists passed smaller rate increases to larger borrowers while raising fees, resulting in a lower effective annual cost. The findings underscore market segmentation and the strategic targeting of borrower types by specialist lenders.
Research Lending Market risk and volatility
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2026-03-20•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,175 examines inflation targeting's impact on expectations, finding realized inflation declines post-adoption, but professional-forecaster expectations show minimal adjustment. Using a model treating inflation targeting as a downward shift in the central bank's objective, the study analyzes survey data from 32 countries, revealing close-to-zero effects on one-year-ahead expectations. The paper is part of the Bank's staff working paper series and does not reflect official policy.
Research Other
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2026-03-20•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance (SSN) introduced a digital consultation system to expedite judicial requests for information on supervised entities and motor insurance policies. The system allows courts to directly access data with a certificate valid for judicial use, replacing multiple platforms and the SSN’s intake desk. Access is secured through username and password to ensure traceability.
Policy & regulation Implementation, projects & pilots Other
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2026-03-20•Argentina•Argentina Securities Commission (CNV)
Argentina's National Securities Commission (CNV) held a technical exchange with about 70 capital markets participants to discuss upcoming Fondo de Asistencial Laboral (FAL) regulation. The meeting aimed to gather input on a regulatory framework being developed with the Ministry of Economy, focusing on scope, guidelines, and implementation challenges. Participants, including mutual funds and brokerage firms, agreed to maintain open communication for further analysis and rule-making.
Policy & regulation Other
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2026-03-20•United States•U.S. Securities & Exchange Commission
At SEC Speaks 2026, deputy directors from the SEC’s Office of the Advocate for Small Business Capital Formation discussed simplifying capital raising for small businesses and invited feedback on regulatory issues. They emphasized the "Listen, Learn, Improve" strategy to incorporate market feedback into policy and highlighted resources on the SEC’s portal. Practitioners were encouraged to use these resources and provide input.
Policy & regulation Guidance & interpretation SME financing
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2026-03-20•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission (FSC) issued a warning about fraudulent emails and impersonation attempts falsely claiming connections to the FSC. These emails, often with the subject line “AML/CFT 101 Financial Sanctions,” contain malicious links or attachments and originate from unauthorised domains. The FSC advises against treating these communications as legitimate and cautions against downloading attachments or clicking links.
Supervision Alerts Fraud and scams
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2026-03-20•Serbia•National Bank of Serbia
The National Bank of Serbia reported a significant rise in remote financial contracts, totaling 518,200 in 2025, a 60% increase from 2024. Contracts using video identification surged by 75.4% to over 159,000, now comprising 30.7% of all remote contracts. Citizens increasingly utilized remote contracting for various banking services, with notable growth in cash loans, payment accounts, overdrafts, savings, and other services.
Data & statistics Digital identity
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2026-03-20•Dominican Republic•Pensions Superintendency (SIPEN)
The Pensions Superintendency (SIPEN) concluded its participation in the Central Bank of the Dominican Republic’s 2026 Economic and Financial Week with pension-system education sessions in Santo Domingo and Santiago. Activities included a presentation on the Dominican pension system for 320 students in Santiago and the launch of children and youth-focused educational tools by pension fund administrators Crecer and Siembra.
Financial literacy & education Financial literacy and education
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2026-03-20•Sweden•Finansinspektionen
Sweden's Financial Supervisory Authority is consulting on amendments to align its regulations with the EU Regulation establishing the European Single Access Point (ESAP). The proposals aim to enhance the collection of financial and sustainability-related information and specify requirements for major shareholding notifications, including mandatory electronic submissions, aligning Swedish regulations with the EU Transparency Directive and related national legislation.
Policy & regulation Rules & requirements Regulatory reporting
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2026-03-20•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) has proposed new and amended regulations following changes to the Capital Requirements Directive and the Investment Firms Directive. Updates include requirements for third-country branches, financial holding companies, management suitability assessments, risk management, internal governance, and ESG-related plans. Most provisions take effect on 1 July 2026, with some effective from 11 January 2027.
Policy & regulation Rules & requirements Capital adequacy Prudential risks
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2026-03-20•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has initiated an enforcement investigation into Market Financial Solutions Limited (MFS), an Annex 1 business under FCA supervision for compliance with anti-money laundering regulations. MFS, which is not authorised for broader FCA regulation, entered administration on 25 February 2026.
Enforcement Investigations & enforcement actions AML and CFT Unlicensed or unauthorized activity
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2026-03-20•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) reminded regulated firms to conduct thorough checks with "Annex 1" firms, registered solely for anti-money laundering (AML) purposes. The FCA's powers over these firms are limited to AML compliance, and customers cannot access the Financial Ombudsman Service. Regulated firms must verify registration status, independently check information, and manage risks as outlined in the 2025 National Risk Assessment.
Supervision Alerts Unlicensed or unauthorized activity
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2026-03-20•Croatia•Croatian National Bank
The Croatian National Bank marked Global Money Week 2026 with a broad financial literacy programme, centred on the 10th Great Student Debate on whether artificial intelligence can manage personal finances. Additional activities included museum-based education, lectures at the Visitors’ Centre, participation in financial literacy conferences and festivals, and workshops for children, with the central bank emphasising that its financial education initiatives for schools and universities run year-round.
Financial literacy & education Financial literacy and education
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2026-03-20•Germany•BaFin
BaFin has issued guidance on applying the German Securities Trading Act and the German Securities Acquisition and Takeover Act following the CJEU’s judgment in Case C-864/24 on acting in concert under the Transparency Directive. BaFin will narrow acting-in-concert attribution under section 34(2) WpHG to agreements obliging parties to pursue a long-term common management policy, cease applying attribution grounds in section 34(1) sentence 1 numbers 3 and 5 WpHG, but will continue to apply section 30 WpÜG unchanged. The notice applies until section 34(1) and (2) WpHG are amended in line with EU law.
Policy & regulation Guidance & interpretation Corporate governance
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2026-03-20•Colombia•Central Bank of Colombia
The Central Bank of Colombia has revised the regulatory framework for Bre-B, the country's instant payments system, to enhance service continuity and transparency. The update mandates financial institutions to offer clearer and more timely communication regarding technological incidents and disruptions to users.
Policy & regulation Rules & requirements Other
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2026-03-20•United States•Federal Reserve Board
The Federal Reserve Board issued enforcement actions prohibiting former bank employees Lidia Estrada and Brenda Fuson from involvement in any insured depository institution. Estrada, formerly of Ally Bank, was banned for document falsification related to compensation requests, while Fuson, formerly of Regions Bank, was banned for misappropriating customer funds.
Enforcement Investigations & enforcement actions Fraud and scams
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2026-03-20•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Market Participants Division and Division of Clearing and Risk issued responses to FAQs on registrant and registered entity activities related to crypto assets and blockchain technologies. This provides further clarity on topics from CFTC Staff Letter 25-39 regarding tokenized collateral and CFTC Staff Letter 26-05 concerning digital assets accepted as margin collateral.
Policy & regulation Guidance & interpretation Blockchain and distributed ledger technology
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2026-03-20•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration released a draft for public consultation on handling financial consumer complaints by banking and insurance institutions. It emphasizes consumer protection, standardizing complaint handling, and diversified dispute resolution, requiring institutions to enhance systems and processes. It includes a chapter on dispute resolution through negotiation, settlement, or mediation, involving industry bodies and mediation organizations.
Policy & regulation Rules & requirements Complaints and dispute resolution
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2026-03-20•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration director Li Yunze met with Hong Kong's Financial Secretary Paul Chan and a delegation to discuss economic and financial conditions. The meeting focused on enhancing mainland-Hong Kong financial market connectivity and supporting Hong Kong's role as an international financial centre.
Policy & regulation Cooperation Cross-border cooperation
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2026-03-20•France•France Autorite des marches financiers
The Autorité des marchés financiers (AMF) is participating in the 2026 Employee Savings Week by publishing educational materials and hosting a public webinar to enhance understanding of employee savings schemes. In collaboration with the French Asset Management Association and others, the initiative aims to provide objective information on these schemes' mechanisms and benefits. The AMF will also review long-term investment options available through employee savings arrangements.
Financial literacy & education Financial literacy and education
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2026-03-20•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission has launched Tailored Finance, a board game teaching financial concepts to children aged 10 to 15. It covers spending, saving, investment, risk and return through questions and simulated decisions, with a digital version also available.
Financial literacy & education Consumer and investor protection Financial inclusion
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2026-03-20•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is consulting on amendments to credit rating requirements for bonds issued by foreign entities and securitized bonds with foreign risk. The changes aim to align with international practices, requiring issuer and expected issue ratings from international agencies. New issuers must have investment-grade ratings, while existing issuers may receive waivers for rollovers, with detailed disclosure requirements for ratings and discrepancies.
Policy & regulation Rules & requirements Credit ratings
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2026-03-20•China•Central Bank of the Republic of China
China's Ministry of Justice, in collaboration with key financial regulators, has released a draft Financial Law to bolster the financial rule-of-law framework and enhance supervision. The proposal aims to address financial risks, with public feedback invited through various channels.
Policy & regulation Rules & requirements Other
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2026-03-20•China•Central Bank of the Republic of China
The People's Bank of China and the State Administration of Foreign Exchange have issued measures to regulate offshore lending by domestic enterprises, introducing unified management for renminbi and foreign-currency lending under a macroprudential framework. The measures link the ceiling for an enterprise’s offshore lending balance to its owners’ equity and increase the macroprudential adjustment coefficient to 0.6, raising the overall lending balance cap. Management and use-of-funds requirements are set for domestic banks and enterprises to control risks.
Policy & regulation Rules & requirements Cross-border payments
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2026-03-20•China•Central Bank of the Republic of China
The People's Bank of China outlined its 2026 strategy to enhance credit reporting quality, focusing on risk-based supervision and sector security. Key priorities include upgrading the public credit reporting system, diversifying product supply, and expanding consumer services through digital advancements. The bank also aims to strengthen credit rating credibility and improve data governance.
Policy & regulation Implementation, projects & pilots Credit ratings
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2026-03-20•Russia•Central Bank of Russia
Bank of Russia cut its key rate by 50 bp to 15.00 %, noting moderating price pressures and balanced growth, but said policy remains tight after 600 bp of easing since March 2025 and further cuts will hinge on durable disinflation and external risk developments.
Monetary policy Policy rate decisions Monetary policy decisions and developments
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2026-03-20•Switzerland•Federal Department of Finance (Switzerland)
Switzerland's Federal Department of Finance released the Federal Council’s strategy on combating money laundering and terrorist financing, outlining a risk-based, coordinated defence framework. Key priorities include implementing a transparency register, enhancing criminal prosecution tools, and strengthening supervisory authorities. The strategy aligns with the national strategy for combating organised crime and emphasizes improved cooperation and asset recovery.
Policy & regulation Reform agendas & priorities AML and CFT
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2026-03-20•Global•Bank for International Settlements - Financial Stability Institute
The Bank for International Settlements’ Financial Stability Institute published an Occasional Paper evaluating the European banking union’s resolution regime, highlighting procedural and regulatory complexities. The paper identifies issues like multi-step decision-making, unharmonised national insolvency regimes, and constraints on mutualised funding access. It suggests reforms to broaden resolution use, reduce resolution–insolvency boundary frictions, and strengthen common funding arrangements.
Research Recovery and resolution
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2026-03-20•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency reported that Board President Ante Žigman emphasized trust and emotions in financial decisions at the 4th Regional Financial Literacy Conference. He highlighted behavioural insights as crucial for effective financial education, noting traditional methods have limited impact. The conference focused on enhancing financial literacy and capability through collaboration among government, education, finance, and private-sector stakeholders.
Financial literacy & education Financial literacy and education
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2026-03-20•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency granted Kornelija-Branimira Bojanić authorization as a certified actuary and confirmed the cessation of B.I.G. CENTAR d.o.o.'s insurance distribution license as of 19 February 2026. The license, initially issued in 2006, was for services under the name B.I.G. CENTAR d.o.o. for insurance representation.
Supervision Authorisations & approvals Licence withdrawal
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2026-03-20•Spain•Bank of Spain
The Bank of Spain concluded its fourth annual Conduct Supervision Forum, outlining the Department for the Conduct of Institutions’ supervisory actions for 2025 and priorities for 2026. The 2026 focus will remain on responsible lending, pre-contractual loan information, and internal governance models. Governor José Luis Escrivá emphasized embedding a culture of fair customer treatment as a protective measure for both customers and institutions.
Supervision Supervision approach, priorities & toolkit Consumer and investor protection
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2026-03-20•Estonia•Finantsinspektsioon
The Estonian Financial Supervision Authority and the Supreme Court held a joint meeting on consumer lending, addressing the high volume of consumer credit claims, limits on expedited payment order proceedings, and lenders’ non-compliance with responsible lending principles. The Supreme Court called for better practices by lenders and debt collectors and more effective supervision, while Finantsinspektsioon outlined its supervisory approach, reported crimes by illegal lenders, and discussed the proposed positive credit register and new EU consumer credit directive as potential mitigants.
Supervision Cooperation Consumer and investor protection
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2026-03-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam engaged with Luxembourg’s Ambassador and the Luxembourg Agency for the Transfer of Financial Technology to enhance bilateral cooperation in finance and banking. Discussions focused on continuing Luxembourg-backed training for Vietnam’s banking sector, emphasizing digital transformation, fintech, and Basel/IFRS-aligned risk management. The State Bank of Vietnam also sought more technical assistance in data science, AI, risk management, and sustainable finance.
Institutional development Cooperation & capacity building Capacity building
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2026-03-20•United Kingdom•The Pensions Regulator
The Pensions Regulator's Chief Executive, Nausicaa Delfas, urged the UK pensions market to align on delivering sustainable retirement income and innovate for long-term value amid evolving regulations. Delfas emphasized the need for fewer, larger schemes and highlighted priorities such as defined benefit endgame options, enhanced defined contribution investment strategies, and clearer retirement pathways. She also stressed strong governance and responsible AI use, with an AI action plan expected in May.
Policy & regulation Reform agendas & priorities Other
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2026-03-20•Norway•Department of Finance (Norway)
The Norwegian Ministry of Finance has amended the Central Bank Act, effective 1 April 2026, introducing a contingency mechanism for state liquidity in crises. The amendments allow Norges Bank to provide direct credit to the state under specific conditions and adjust disqualification rules for its governance bodies. Additional changes clarify the management of the Government Pension Fund Global and allow access to the National Population Register for central banking purposes.
Policy & regulation Rules & requirements Financial stability and systemic risk
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2026-03-20•Norway•Department of Finance (Norway)
Norway's Ministry of Finance has appointed an expert committee to evaluate potential amendments to the bank crisis management and deposit guarantee framework, aligning with upcoming EU/EEA rule changes. The review will cover crisis management for small and medium-sized banks, use of the deposit guarantee and crisis measures funds, and harmonisation of the deposit guarantee limit for temporarily high balances related to real estate transactions. A reference group will assist, with a report expected by March 2027.
Policy & regulation Reform agendas & priorities Recovery and resolution
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2026-03-20•Norway•Department of Finance (Norway)
Norway's Ministry of Finance proposes amending the Financial Undertakings Act to integrate the EU's revised Capital Requirements Directive (CRD6), streamlining information sharing to combat economic crime and research. The proposal harmonizes banking requirements, empowers Finanstilsynet with penalty imposition, and introduces management quarantine rules. It also allows companies to lend to affiliates without a licence if not funded by public deposits.
Policy & regulation Rules & requirements Capital adequacy ESG
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2026-03-20•Norway•Department of Finance (Norway)
Norway's Ministry of Finance has proposed amendments to the Bookkeeping Act and other financial laws, mandating digital bookkeeping and e-invoicing for entities under Norwegian obligations by 2027 and 2030, respectively. The proposal includes changes to shareholder communication, accountant qualifications, and adjustments to the Financial Supervision Act and DORA Act. The socio-economic benefit is estimated at NOK 10 billion over 20 years.
Policy & regulation Rules & requirements Accounting and financial reporting
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2026-03-20•Norway•Norges Bank
Norges Bank will cease issuing commemorative circulation coins with special designs due to low demand and reduced attention. The decision, made by the Executive Board on 5 March 2026, means no further issues are planned through 2029. The bank will continue to issue anniversary and commemorative coins in precious metals in rare cases.
Policy & regulation Rules & requirements Mandate change
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova has implemented a national Open Banking standard, creating a secure framework for connecting bank accounts to external financial applications with user consent. Aligned with the EU's Second Payment Services Directive (PSD2), it mandates Moldova's 15 licensed payment service providers to offer authorised third parties regulated APIs. Open Banking will enable services like consolidated account viewing and direct payment initiation from third-party apps.
Policy & regulation Rules & requirements Open banking and finance
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2026-03-20•Hong Kong•Hong Kong Securities & Futures Commission
Hong Kong's Securities and Futures Commission transferred a securities fraud case involving illegal short selling to the District Court, marking the first prosecution under section 300 of the Securities and Futures Ordinance. Defendants Chan Hoi Shing and Li Po Ching are accused of a fraudulent scheme involving 28 Hong Kong-listed companies. Bail conditions include a travel ban, surrender of travel documents, regular police reporting, residence requirements, and cash bail of HKD 280,000 each.
Enforcement Investigations & enforcement actions Market abuse
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2026-03-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released Q4 2025 statistics on stored value facility schemes, indicating growth in active accounts, transaction volumes, and float. SVF accounts reached 86.4 million, a 3.6% increase quarter-on-quarter, with transactions totaling 2.3 billion, up 6.6% quarter-on-quarter. The total transaction value was HKD 272.4 billion, with notable contributions from point-of-sale and online spending.
Data & statistics Financial and market indicators Supervisory data
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2026-03-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released Q4 2025 statistics on payment cards, highlighting a significant rise in credit cards in circulation, up 15.6% quarter-on-quarter and 38.4% year-on-year, with transaction volumes and values also increasing. Credit card transactions reached 393.96 million, valued at HKD 311.6 billion, while debit card transactions rose 2.7% quarter-on-quarter to 53.7 million but declined year-on-year.
Data & statistics Financial and market indicators Supervisory data
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2026-03-20•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails involving The Bank of East Asia, Shanghai Commercial Bank, and Chong Hing Bank. The HKMA reminded the public that banks will not send messages with hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact their bank and report to the Hong Kong Police Force's Crime Wing Information Centre.
Supervision Alerts Fraud and scams
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2026-03-20•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam updated its Alert List, adding Loan Adakami BDCB, to identify entities not licensed or regulated by the bank. The list aims to prevent public misconceptions about regulatory status and emphasizes the importance of engaging only with licensed financial institutions. The central bank reiterated that unlicensed services lack regulatory protection.
Supervision Alerts Other
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2026-03-20•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam's January 2026 Business Sentiment Index showed slight optimism in current conditions at 50.2 and stable February expectations at 50.0. Investment sentiment was modestly positive, while employment and cost indices indicated subdued conditions and moderate cost increases. Health and Education sectors showed the strongest optimism, whereas Transport and Communication lagged, with sentiment varying slightly by business size.
Data & statistics Economic data and developments
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2026-03-20•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has restricted Beauforce Corporation Limited from conducting regulated activities and ordered the return of client funds. This action stems from concerns over senior management suitability, particularly the disqualification of Mr. Duckett, and the firm's failure to notify the FCA or provide requested information. The FCA issued a Decision Notice in May 2025 to cancel the firm's permissions, which Beauforce has referred to the Upper Tribunal.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2026-03-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has updated its list of potentially fraudulent investment projects, adding "EXT Ltd" and "Universal Group." The list now includes 464 projects and highlights common red flags such as missing authorisations and manipulative advertising. Investors are encouraged to report suspicious projects to the regulator.
Supervision Alerts Sanctions list update
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2026-03-20•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market and the National Depository of Ukraine plan to digitise and streamline non-public share registration by shifting this function to the central securities depository. The reform introduces a declarative approach, reducing the process from seven to four stages and shortening registration time to 2–5 business days. Legal amendments are required to implement these changes, applicable to specific placements and capital increases.
Policy & regulation Reform agendas & priorities Securities offerings and listings
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2026-03-20•Germany•BaFin
Germany’s Federal Financial Supervisory Authority (BaFin) issued a notice on voting rights attribution under the German Securities Trading Act (WpHG) after a European Court ruling. BaFin will align Section 34(2) WpHG with the EU Transparency Directive, ceasing certain broader attribution grounds. This affects those under notification obligations and market participants involved in procedures under the German Securities Acquisition and Takeover Act (WpÜG).
Policy & regulation Guidance & interpretation Other
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova released February 2026 statistics on new bank lending, totaling MDL 6,722 million, with businesses accounting for 67.8% and individuals 32.2%. The data includes loan volumes and nominal interest rates for both sectors, highlighting that individuals primarily borrowed in Moldovan lei.
Data & statistics Financial and market indicators Supervisory data
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova released February 2026 statistics on newly attracted bank deposits, totaling MDL 25,517 million, with 68.4% from the business sector and 31.6% from individuals. MDL-denominated term deposits comprised 77% of all term deposits. The data includes volumes and nominal interest rates for new deposits, segmented by business and individual sectors.
Data & statistics Financial and market indicators Supervisory data
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova released monthly statistics on the non-cash foreign exchange market, detailing banks' foreign currency transactions against the Moldovan leu. In SPOT trading, interbank purchases and sales were EUR 10.8m and EUR 15.4m, respectively, while intrabank activity was significantly higher. SWAP activity was minimal, and no FORWARD transactions were reported.
Data & statistics Currency and cash management
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova released February 2026 statistics on the domestic cash foreign exchange market, showing a total turnover of EUR 332.4 million. The euro dominated with 75.0% of the turnover, while overall turnover decreased by 5.1% from January and 0.7% year-on-year. Purchases increased by 5.2% compared to February 2025, whereas sales dropped by 20.3%.
Data & statistics Currency and cash management
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2026-03-20•Moldova•National Bank of Moldova
The National Bank of Moldova released data on licensed banks' foreign currency assets and liabilities and the banking system's open foreign exchange position for February 2026. Total foreign currency assets were MDL 57.04 billion, and liabilities were MDL 56.75 billion, with the largest long position in euros and the largest short position in US dollars. The monthly report includes balance-sheet items, off-balance-sheet positions, and Moldovan leu items linked to foreign exchange rates.
Data & statistics Balance of payments and other external statistics
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2026-03-20•Laos•Bank of the Lao
The Bank of the Lao PDR's Financial Stability Committee reviewed financial stability from 2025 to early 2026, finding the sector stable but highlighting the need for enhanced oversight amid challenging economic conditions. Priorities include aligning supervisory practices with international standards, designating systemically important banks, and urging financial institutions to bolster risk management. The committee also emphasized resolving weak institutions, improving payment systems, and strengthening IT security.
Policy & regulation Reform agendas & priorities Cross-border payments
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2026-03-20•Laos•Bank of the Lao
The Bank of the Lao's Governor, Bounkham Vorachith, met with Carlos Felipe Jaramillo, World Bank Vice President for East Asia and the Pacific, to discuss ongoing World Bank support for Lao PDR’s socio-economic development plan and macroeconomic review. Talks included technical assistance for microenterprise capital access and anti-money laundering and counter-terrorism financing measures. The Governor expressed gratitude for the World Bank's support and anticipated continued collaboration.
Policy & regulation Cooperation Other
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2026-03-20•Europe•European Central Bank
The European Central Bank reported a EUR 38 billion current account surplus for the euro area in January 2026, up from EUR 13 billion in December 2025. Over the 12 months to January 2026, the surplus was EUR 261 billion, or 1.6% of GDP, down from EUR 377 billion, or 2.5%, a year earlier. The report includes updated statistics reflecting Bulgaria's adoption of the euro and recalculated data from 2013.
Data & statistics Balance of payments and other external statistics
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2026-03-20•Honduras•Central Bank of Honduras
The Central Bank of Honduras reported a USD 586.2 million increase in net international reserves (RIN) from 27 January to 19 March 2026, raising the reserve cover of imports from 6.22 to 6.56 months. RIN rose from USD 10,305.8 million to USD 10,892.0 million, with weekly changes ranging from USD 46.0 million to USD 98.0 million.
Data & statistics Balance of payments and other external statistics
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2026-03-20•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji's Fiji Innovation Hub has launched applications for the Fiji Innovation Activator 2026, a nine-week accelerator for early-stage founders and entrepreneurs in Fiji. The programme focuses on fintech solutions to streamline business operations, with additional slots for sustainability-focused initiatives. Up to seven startups will receive free support, including coaching, mentorship, and market validation.
Policy & regulation Implementation, projects & pilots Fintech and insurtech
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2026-03-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced the Federal Court found Macquarie Investment Management Limited violated the Corporations Act by not placing the Shield Master Fund on a watch list. Macquarie agreed to repay over 3,000 affected members approximately AUD 321 million. ASIC's investigations into misconduct related to the Shield and First Guardian Master Funds continue, with ongoing compensation proceedings and coordination with the Australian Prudential Regulation Authority.
Enforcement Investigations & enforcement actions Corporate governance
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2026-03-20•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) focuses on market disclosure, financial reporting, and mandatory sustainability reporting, emphasizing auditor regulation under the Corporations Act. ASIC formalized information-sharing with accounting bodies and reviewed superannuation entities' financial reports, highlighting auditor independence and conflict-of-interest issues. ASIC plans to expand its audit surveillance program to include mandatory sustainability report reviews and summarized recent enforcement actions against auditors.
Supervision Supervision approach, priorities & toolkit Auditing Accounting and financial reporting
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2026-03-20•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 the Republic of Kazakhstan approved Olga Ivanovna Shuster's appointment to the executive body of JSC Freedom Finance, as documented in protocol No. 295/RCB/T on 18 March 2026.
Supervision Authorisations & approvals Licence approval
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2026-03-20•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on co-borrowers in credit agreements, clarifying their shared liability with borrowers, allowing banks to seek repayment from them if the borrower defaults, unlike guarantors' limited obligations. The agency advises potential co-borrowers to review contract terms and assess their ability to fulfill obligations.
Policy & regulation Guidance & interpretation Lending
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2026-03-20•China•China Securities Regulatory Commission
The China Securities Regulatory Commission Chair Wu Qing met with a Hong Kong delegation to discuss the economic and financial landscape and enhance cooperation between mainland and Hong Kong capital markets. The discussions focused on the 15th Five-Year Plan and supporting Hong Kong's role as an international financial centre.
Policy & regulation Cooperation Cross-border cooperation
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2026-03-20•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reported over VND 20 trillion in outstanding loans under Decree 100/2024 and a VND 120 trillion programme by state-owned banks to boost social housing lending. The programme offers preferential rates 1.5 to 2 percentage points below average lending rates, with improved disbursements. Additionally, the Prime Minister has called for amendments to Decree 100/2024 to expand eligibility and simplify verification processes.
Policy & regulation Implementation, projects & pilots Other
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2026-03-20•Thailand•Thailand Office of Insurance Commission
Thailand’s Office of Insurance Commission (OIC) has partnered with Google to combat cyber-enabled insurance fraud affecting consumers. The collaboration focuses on addressing issues such as fake insurance applications and unlicensed foreign insurers marketing products online. The OIC and Google will continue to coordinate on technology-related risk prevention and future fraud prevention initiatives.
Supervision Cooperation Cross-border cooperation
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2026-03-20•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission recorded total insurance premiums above PHP 500 billion for the first time in 2025, while industry assets reached PHP 2.66 trillion. Finance Secretary Frederick Go called for stronger consumer protection, digital transformation and broader development of inclusive insurance products.
Policy & regulation Guidance & interpretation Activity and performance reporting Consumer and investor protection Financial inclusion
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2026-03-20•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service reported an increase in the delinquency rate on domestic banks’ won-denominated loans to 0.56% as of January 2026, up from 0.50% in December 2025. The rise was driven by a KRW 0.4 trillion increase in newly delinquent loans and a KRW 3.8 trillion decrease in resolved loans. Delinquency rates rose across segments, with large companies at 0.13%, SMEs at 0.82%, and household loans at 0.42%.
Supervision Risk monitoring & watch points Financial and market indicators Supervisory data
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2026-03-20•South Korea•South Korea Financial Supervisory Service
The South Korea Financial Supervisory Service released preliminary 2025 financial data for savings banks and mutual financial cooperatives. Savings banks reported a KRW 417.3 billion net profit due to reduced credit costs and improved asset quality, while mutual financial cooperatives saw a 15.5% decline in net income amid weaker delinquency and capital metrics. The FSS emphasized the need for these institutions to enhance loss-absorbing capacity and stability.
Supervision Risk monitoring & watch points Asset quality Prudential risks
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2026-03-20•Mongolia•Central Bank of Mongolia
Bank of Mongolia kept its policy rate at 12.0 % at the 18–20 March meeting, citing easing headline inflation to 6.5 % yet warning that geopolitical tensions could reignite fuel and food price pressure. The Committee still sees inflation staying within the 4–6 % band, reaffirmed its 5 % ±2 pp 2027 goal, and said it stands ready to adjust policy as conditions evolve.
Monetary policy Policy rate decisions Monetary policy decisions and developments
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2026-03-20•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay’s Monetary Policy Committee unanimously kept the monetary policy rate at 5.50% on 20 March, saying the decision maintains a neutral stance amid still-low inflation, inflation expectations anchored at the 3.5% target, continued but slower economic expansion, and external energy-price risks. February inflation was 2.3% year on year, with headline inflation expected to remain temporarily below target before converging to 3.5% toward end-2026.
Monetary policy Policy rate decisions Monetary policy decisions and developments
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2026-03-20•Global•OECD
The OECD has released a survey through its International Network on Financial Education to assess individuals' knowledge of climate-related financial risks and sustainable finance. Structured into four modules, it aims to provide comparable evidence for policymakers on household preparedness and understanding. The OECD encourages public use and coordination with its Secretariat for data sharing and updates.
Policy & regulation International standards & recommendations Climate risk and sustainable finance
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2026-03-20•Solomon Islands•Central Bank of the Solomon Islands
The Central Bank of the Solomon Islands (CBSI) warned against using banknotes in crafts, citing legal prohibitions under the Central Bank of Solomon Islands Act 2012 and the Solomon Islands Penal Code. CBSI emphasized that such practices tamper with legal tender, increasing replacement costs, and urged community leaders to use alternative materials. Non-compliance may result in enforcement action, including penalties and fines.
Enforcement Other
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2026-03-20•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore concluded phase two of Project MindForge by releasing an AI Risk Management Toolkit for financial institutions. Developed with 24 industry partners, it includes an AI Risk Management Operationalisation Handbook and case studies, structured around MAS’ proposed Guidelines on AI Risk Management. MAS will periodically update the handbook and establish a workgroup under BuildFin.ai to enhance AI risk management resources and capabilities.
Policy & regulation Guidance & interpretation Artificial intelligence
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2026-03-20•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador’s Superintendence of Banks has mandated entities within the Credit Guarantee System to submit detailed institutional and operational information to aid supervisory activities under the Organic Monetary and Financial Code. Required data includes contact details, credit guarantee agreements, usage confirmations, and a breakdown of guarantees as of 28 February 2026. Submissions must be made digitally via the official online channel.
Supervision Regulatory reporting Supervision process and methodologies
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2026-03-20•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) released videos with Shail Singh, Lead Ombudsman Investments and Advice, explaining AFCA's jurisdiction and complaint criteria. AFCA accepts complaints against current scheme members but not about managed investment schemes' or superannuation funds' management or performance. Complaints should be lodged against the licensee, not individual advisers, and distinguish between self-managed superannuation funds and those with APRA-regulated trustees.
Policy & regulation Guidance & interpretation Complaints and dispute resolution
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2026-03-20•United States•National Association Of Insurance Commissioners
The NAIC's Center for Insurance Policy and Research will host an event at the 2026 Spring National Meeting on 23 March, focusing on catastrophe mitigation and resilience. It will address aligning mitigation science, insurance markets, and regulatory frameworks to improve insurability and reduce wildfire and wind hazard losses. Key speakers include California Insurance Commissioner Ricardo Lara and Minnesota Commerce Commissioner Grace Arnold.
Policy & regulation Cooperation Climate risk and sustainable finance
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2026-03-20•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) will hold its 2026 Spring National Meeting in San Diego from March 22–25, focusing on modernizing oversight and consumer protection. Key workstreams include enhancing capital frameworks, improving data architecture, and leading on AI model governance and cyber threats. NAIC President Scott A. White will deliver the keynote address on March 23.
Policy & regulation Cooperation Climate risk and sustainable finance
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2026-03-19•Kosovo•Central Bank of the Republic of Kosovo
During Global Money Week 2026, Governor Ahmet Ismaili's lecture emphasized the Central Bank of Kosovo's role in financial stability and sustainable economic development. It highlighted microprudential and macroprudential policies, positive banking-sector developments, and regulatory reforms. The bank announced the "Central Bank of Kosovo Award for Young Economists" and plans to enhance financial literacy and youth engagement.
Financial literacy & education Financial literacy and education
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2026-03-19•Europe•European Council
The European Council has appointed Boris Vujcic as Vice-President of the European Central Bank for a non-renewable eight-year term, effective 1 June 2026, succeeding Luis de Guindos. The appointment was made following consultations with the European Parliament and the ECB’s Governing Council, and was supported by the Eurogroup.
Institutional development Leadership change & appointments Leadership change and appointments
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2026-03-19•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama's January 2026 Banking Activity Report indicates robust growth in the International Banking Center, with deposits up 8% to USD 117,466 million and a 5.4% increase in the net loan portfolio to USD 100,348.3 million. Liquidity and capital ratios exceeded regulatory minima, with a legal liquidity index of 56.15% and a capital adequacy index of 16.27%. Net profit rose slightly to USD 253.6 million, while profit before provisions increased by 8.0%.
Supervision Risk monitoring & watch points Asset quality Capital adequacy Liquidity risk
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2026-03-19•Mexico•Central Bank of Mexico
The Central Bank of Mexico has initiated a public consultation on proposed amendments to rules for financial institutions and the Interbank Electronic Payment System (SPEI) to enhance the mobile electronic fund transfer experience. The amendments target Circular 3/2012 and Circular 14/2017, aiming for a more uniform and intuitive process for mobile transfers.
Policy & regulation Rules & requirements Payments and payment systems
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2026-03-19•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved Euro Invest Management AD’s EUR 25 million bond issue for trading on a regulated market. The Commission also admitted three candidates to the May 2026 investment consultant exam and rejected Cu500 Europe EOOD’s crypto-asset services provider licence application due to incomplete documentation.
Supervision Authorisations & approvals Securities offerings and listings
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2026-03-19•Japan•Japan Financial Services Agency
The Japan Financial Services Agency, UK Treasury, Bank of England, and Financial Conduct Authority issued a joint statement after the Japan-UK Financial Regulation Forum in Tokyo, focusing on digital finance, sustainable finance, and other key regulatory topics. The discussions are part of ongoing cooperation under the Japan-UK Economic Partnership Agreement.
Policy & regulation Cooperation Cross-border cooperation Climate risk and sustainable finance Artificial intelligence
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2026-03-19•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic fined five exchange offices in Bishkek KGS 55,000 each for violating foreign currency exchange regulations. Additionally, a Kyrgyz citizen was fined KGS 17,500 for unlicensed cash foreign currency exchange transactions.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2026-03-19•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Naryn regional department conducted a lecture at Zh. Mambetov secondary school in Ak-Talaa village, focusing on financial literacy. Topics included activating and removing the self-ban on loans in the Tunduk application and understanding "dropping."
Financial literacy & education Financial literacy and education
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2026-03-19•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has suspended the licence of AktilekMik LLC's exchange bureau from 20 March to 3 April 2026 due to violations of national legislation and central bank regulations.
Enforcement Sanctions & designations Unlicensed or unauthorized activity
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2026-03-19•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.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2026-03-19•Japan•Japan Financial Services Agency
The Japan Financial Services Agency released draft revisions to the Comprehensive Supervisory Guidelines for Insurance Companies, focusing on small-amount and short-term insurers, and opened them for public comment. The revisions aim to enhance claims management and business promotion frameworks, clarify co-insurance contract supervision, and incorporate recommendations from recent industry reports. A comparison table of the old and new text and related public comment materials were published.
Policy & regulation Guidance & interpretation Supervision process and methodologies
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2026-03-19•Japan•Japan Financial Services Agency
The Japan Financial Services Agency released a draft revision to the Comprehensive Supervision Guidelines for Insurance Companies, focusing on small and short-term insurers, for public comment. It aligns with planned amendments to the Enforcement Regulations of the Insurance Business Act, aiming to enhance practices at multi-tied insurance agencies. The revisions are based on reports from the Expert Meeting on Structural Issues and Competition in the Non-life Insurance Industry and the Financial Services Council Working Group.
Policy & regulation Guidance & interpretation Supervision process and methodologies
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2026-03-19•Japan•Japan Financial Services Agency
Japan's Financial Services Agency has released a draft revision to its Comprehensive Supervision Guidelines for Insurance Companies, focusing on small-amount and short-term insurers, to align with the amended Insurance Business Act. The draft is open for public comment and aims to synchronize supervisory guidelines with recent legislative changes.
Policy & regulation Guidance & interpretation Supervision process and methodologies
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2026-03-19•Latin America•Financial Action Task Force of Latin America (GAFILAT)
The Financial Action Task Force of Latin America (GAFILAT) conducted an intensive course in Costa Rica to prepare its anti-money laundering and counter-terrorist financing (AML/CFT) authorities for a mutual evaluation. Supported by experts from Spain, the program focused on the effectiveness of the AML/CFT framework and the mutual evaluation process. Participants included GAFILAT’s Executive Secretariat and Costa Rican authorities.
Institutional development Cooperation & capacity building Capacity building AML and CFT
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2026-03-19•Israel•Bank of Israel
The Bank of Israel published updated statistics on inflation expectations, comparing market-implied breakeven inflation with survey forecasts, bank measures, and inflation contract pricing. Current one-year inflation expectations are 1.5% from the capital market, 1.7% from forecasts, 1.9% from banks, and 1.8% from contracts. Forward expectations for the second year are 1.7%, rising to 2.2% for years 3–5, then declining to 1.5% for years 5–10.
Data & statistics Other
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2026-03-19•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Bank Lending Survey for Q4 2025, indicating stable lending standards and terms for new credit. While enterprise loan demand remained unchanged, household borrowing demand increased, particularly for consumer and other loans.
Data & statistics Financial and market indicators Monetary data