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2025-12-30•Lithuania•Bank of Lithuania
The Bank of Lithuania reported a EUR 2.7 billion surplus in third-quarter 2025 international trade in services, with exports at EUR 6.6 billion and imports at EUR 3.9 billion. Transport services dominated trade, with road transport showing the largest surplus and sea freight the largest deficit. Services exports to the EU rose 14.0%, with Germany as the largest export partner, while imports from the EU increased 16.6%, led by Poland.
Data & statistics Balance of payments and other external statistics
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2025-12-30•United States•Financial Industry Regulatory Authority
FINRA ordered American Portfolios Financial Services, Inc. (APFS) to pay USD 4.6 million in restitution and a USD 550,000 fine for inaccurate disclosures and retention of undisclosed surplus interest in its bank deposit program. APFS collected over USD 3 million in excess fees and failed to disclose USD 1.25 million in surplus interest, leading to inaccurate financial reporting. Supervisory failures were identified, with APFS settling the charges without admitting or denying them.
Enforcement Investigations & enforcement actions Accounting and financial reporting
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2025-12-30•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) has suspended its recent information-disclosure requirements for pension funds, delaying their application until 1 January 2027. The suspension, under Regulatory Standard No. 7/2025-R, allows more time for adaptation and aligns with ASF's regulatory simplification efforts and potential amendments to Directive (EU) 2016/2341. ASF plans to re-evaluate the requirements and adopt further regulatory initiatives as needed.
Policy & regulation Rules & requirements Disclosures
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2025-12-30•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported a 0.4% increase in US house prices for October, with a 1.7% rise from October 2024 to October 2025. September's data was revised from a 0.0% change to a 0.1% decline. Regional variations included a 0.4% decline in the East South Central division and a 1.0% increase in the West South Central division.
Data & statistics
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2025-12-30•Gibraltar•Gibraltar Financial Services Commission
The Gibraltar Financial Services Commission (GFSC) has released a thematic review evaluating firms' controls for anti-money laundering (AML), combating the financing of terrorism (CFT), and counter-proliferation financing (CPF) across various sectors. This publication concludes the GFSC's sectoral AML/CFT thematic reviews, assessing compliance with the Proceeds of Crime Act 2015.
Supervision Reviews, inspections & stress tests AML and CFT
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2025-12-30•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia's Monetary Policy Committee maintained its tight policy stance, keeping the National Bank Rate at 15% and the 24% annual credit growth limit. Measures to contain monetary expansion include raising banks' required reserve ratio to a 10% monthly average and moving the minimum deposit saving rate to a market-determined level. The committee noted annual inflation at 10.9% and significant growth in monetary and credit metrics, with liquidity shortages addressed through the interbank money market and standing lending facility.
Monetary policy Policy rate decisions Liquidity risk Prudential risks
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2025-12-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam presented a monetary policy report to the Government's new Steering Committee for Macroeconomic Management, chaired by Prime Minister Pham Minh Chinh, outlining 2026 goals for double-digit growth, macroeconomic stability, and inflation control. The Prime Minister directed proactive and flexible monetary policy management, including credit room setting, exchange rate and interest rate management, and the urgent operation of the national gold exchange, while fiscal policy will remain expansionary.
Policy & regulation Cooperation
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2025-12-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam appointed Ms Nguyen Thi Thu Thu as Director of the newly established Region 8 Branch, with Deputy Governor Pham Quang Dung presenting the decision. Nguyen is tasked with stabilizing the organization and enhancing state management to ensure banking safety and support local socio-economic development.
Institutional development Leadership change & appointments Leadership change and appointments
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2025-12-30•Austria•Austria Financial Market Authority
Austria's Financial Market Authority (FMA) will take over monitoring and enforcing financial sanctions from the Oesterreichische Nationalbank on 1 January 2026. This transition, part of a 2024 reform, affects all entities under the Sanctions Act, requiring strategies to mitigate sanctions risks. The FMA will integrate financial sanctions supervision with its existing anti-money laundering and counter-terrorist financing oversight, planning around 30 combined inspections and 20 spot checks in 2026.
Institutional development Mandate & organizational structure AML and CFT Supervision process and methodologies
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2025-12-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert following reports from several banks about fraudulent websites, phishing emails, and fake internet banking login screens. The alert involves The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Bank of China (Hong Kong). The HKMA reminded the public that banks will not request sensitive information via SMS, email, or phone.
Supervision Alerts Fraud and scams
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2025-12-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and The Hong Kong Association of Banks announced that all retail banks, including digital banks, will fully launch the Money Safe service for individual customers by 31 December. Money Safe allows customers to protect designated deposit amounts, requiring face-to-face anti-scam verification for transfers or withdrawals. The initiative will be supported by advertisements and promotional campaigns to enhance public understanding and uptake.
Policy & regulation Implementation, projects & pilots Consumer and investor protection
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2025-12-30•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) released its Annual Report on Capital Market Exposure to Climate Risk, highlighting physical climate risks for alternative investment funds in Portuguese real estate and PSI index issuers. The report identifies wildfires and water stress as significant risks for real estate, while PSI issuers face risks from rising temperatures and extreme weather. The CMVM emphasizes the importance of mitigation measures and greenhouse gas reduction.
Research Climate risk and sustainable finance
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2025-12-30•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has updated guidance for the 2025 AML/CFT Statistical Return, highlighting new and revised questions for various sectors. Key changes include expanded customer-type categories, additional questions for trust and corporate service providers, and improved data collection on financial flows and staffing. The Authority will assess feedback and may adjust the guidance during the reporting period.
Policy & regulation Guidance & interpretation Regulatory reporting
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2025-12-30•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria announced that following Bulgaria's accession to the euro area, Bulgarian lev banknotes will be exchanged into euros from 1 January 2026 to 2 March 2026 at the official conversion rate of EUR 1 = BGN 1.95583. The exchange will be free of charge, with a daily limit of BGN 2,000 per client per transaction, at designated locations of euro area national central banks.
Monetary policy Monetary policy instruments & operations Currency and cash management
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2025-12-30•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 several senior personnel appointments in the securities market. Kuanov Rauan Berdibekuly and Daulet Erasyl Altynbayuly were appointed to the executive body of JSC Teniz Capital Investment Banking, while Zhumabekova Zaurezh Salmenovna was approved as a chief accountant.
Institutional development Leadership change & appointments Hiring and recruitment
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2025-12-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency explained motor insurance, distinguishing compulsory third-party liability from voluntary CASCO. Fifteen insurers offer CASCO, with premiums at KZT 77.3 billion and payouts KZT 26.5 billion in the first 11 months of 2025. CASCO's relevance rises in winter due to higher accident risks.
Policy & regulation Guidance & interpretation Other
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2025-12-30•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 Asel Timurlanovna Kagazova's appointment to a senior executive role at BCC Invest JSC, a subsidiary of Bank CenterCredit JSC, as per protocol No. 285/RCB/T.
Supervision Authorisations & approvals Licence approval
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2025-12-30•Middle East•Arab Monetary Fund
The Arab Monetary Fund's latest Arab Capital Markets Monthly Bulletin reports a second consecutive month of positive performance for Arab capital markets in October 2025, driven by strong quarterly results from listed companies, especially banks. The AMF Composite Index increased by 1.20%, with notable gains in Amman and Muscat, while global market conditions remained broadly positive amid interest rate cuts and easing U.S.–China trade tensions.
Data & statistics Financial and market indicators Market development
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2025-12-30•Jordan•Jordan Securities Commission
The Jordan Securities Commission announced its 2026-2029 strategy focusing on capital market development, foreign exchange regulation, and a framework for virtual assets, emphasizing investor protection. Key measures include tax incentives, extended trading hours, reduced commissions, and new licensing systems for virtual assets, with enhanced solvency instructions and increased guarantees for foreign exchange trading.
Policy & regulation Reform agendas & priorities Market development Regulatory sandbox
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2025-12-30•Jordan•Central Bank of Jordan
The Central Bank of Jordan reported a 27.7% increase in foreign direct investment inflows to USD 1,525.5 million during the first three quarters of 2025, with Arab countries contributing 62.0% of total inflows, led by Gulf Cooperation Council countries. Key sectors attracting investment included finance and insurance, manufacturing, and transportation and storage.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported a record currency board coverage ratio of 110.6% and an increase in capital and reserves to BAM 1.72 billion. The 2025 net profit was BAM 289.77 million, significantly exceeding plans, with the profit transfer to the 2026 budget marking a historic high in cumulative transfers. The Bank also highlighted record monetary gold reserves of 3.5 tons and efforts to modernize payment systems in line with EU standards.
Monetary policy Monetary policy framework & strategy Financial and market indicators Monetary policy decisions and developments
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2025-12-30•Spain•Bank of Spain
The Bank of Spain reported a decline in Spain's 12-month net lending position to 4.2% of GDP (EUR 69.5 billion) through October 2025, down from 4.5% a year earlier. The current account surplus decreased to 3.1% of GDP, while the capital account balance stood at 1.1% of GDP. Tourism remained a key contributor with a surplus of 4.3% of GDP, despite a weakening balance in non-tourism goods and services and a narrowed income deficit.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam released BDCB Policy Statement 2/2025, available in both English and Malay.
Policy & regulation Guidance & interpretation Other
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2025-12-30•Jordan•Central Bank of Jordan
The Central Bank of Jordan reported a 27.7% increase in foreign direct investment (FDI) inflows, reaching USD 1,525.5 million in the first three quarters of 2025. Arab countries, particularly the Gulf Cooperation Council, were the largest contributors, with Saudi Arabia leading at 18.8%. The financial and insurance sector attracted the most FDI at 34.4%, followed by manufacturing and transport.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) announced the migration of its Register of Entities and Plans to the new CADPREVIC platform, effective January 2026, with licensing applications moving to the federal gov.br portal. PREVIC advises closed pension funds to link their CNPJ to gov.br and pre-register authorized individuals for submissions. A transition period from January to March 2026 will include direct support from PREVIC.
Policy & regulation Guidance & interpretation Licensing framework and process
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2025-12-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia's 2026 budget projects expenses of EUR 33.5 million and revenues of EUR 70.9 million, focusing on IT upgrades, cybersecurity, and crisis-readiness. Key allocations include EUR 1.6 million for cash production, EUR 1.0 million for EU central bank IT projects, and EUR 1.8 million for services to the Estonian Financial Supervision Authority. The bank plans a slight headcount reduction, a 6% payroll increase, and EUR 6.6 million investment in fixed assets, including the ATLAS data system and museum refurbishment.
Institutional development Other Operational excellence
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2025-12-30•Europe•European Central Bank
The European Central Bank released the Eurosystem's financial statement as of 28 November 2025, showing EUR 6,143,717 million in assets and liabilities. Key figures include EUR 4,082,148 million in euro area securities, EUR 1,128,571 million in gold, and EUR 497,351 million in non-euro area claims. Liabilities include EUR 1,595,274 million in banknotes and EUR 2,635,991 million in liabilities to euro area credit institutions, with a note on potential negative "capital and reserves" for national central banks.
Data & statistics Financial and market indicators Supervisory data
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2025-12-30•Lebanon•Central Bank of Lebanon
The Central Bank of Lebanon governor supports the overall structure of the draft deposit repayment law but has called for clearer, binding and time-bound state commitments. He also urged a realistic cash repayment schedule and safeguards against depleting banks’ equity before irregular claims are removed and the hierarchy of claims is applied. The Cabinet should revise the draft before submitting it to Parliament.
Policy & regulation Guidance & interpretation Recovery and resolution
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2025-12-30•Russia•Central Bank of Russia
The Central Bank of Russia has extended the mechanism for holders of the Republic of Belarus’s Eurobonds to receive coupon income and redeem bonds via Russian infrastructure in 2026. These Eurobonds can also be substituted with government securities of Belarus. The measures ensure payments and substitutions occur without foreign accounting institutions.
Policy & regulation Implementation, projects & pilots Cross-border payments
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2025-12-30•Russia•Central Bank of Russia
The Central Bank of Russia announced that individuals and companies will pay no fees for state budget payments from digital ruble accounts starting 1 January 2026, initially available to digital ruble pilot participants. The fee-free period for other business transactions in digital rubles is extended until the end of 2026, while individual payments remain free indefinitely. From 1 September 2026, major banks must enable users to open digital ruble wallets and manage transactions.
Policy & regulation Rules & requirements CBDC
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2025-12-30•Russia•Central Bank of Russia
The Central Bank of Russia extended its loan restructuring recommendations for banks by six months to support corporate borrowers and individual entrepreneurs facing temporary difficulties. It eased loss provision requirements for restructured loans of borrowers with potential financial recovery, contingent on realistic business plans and regular performance monitoring. The regulator will review benchmarks in 2026 to account for industry specifics and company size.
Policy & regulation Rules & requirements Lending Prudential risks
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2025-12-30•Russia•Central Bank of Russia
The Central Bank of Russia has resumed quarterly publication of materials on the Russian Federation’s balance of payments, international investment position, and external debt. The digest analyzes key indicator dynamics and reasons for changes, supporting external-sector trend analysis relevant to monetary policy.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Russia•Central Bank of Russia
The Central Bank of Russia has resumed publishing a quarterly statistical digest on the country's external sector, including the balance of payments, international investment position, and external debt. The digest aims to enhance understanding of external-sector trends and support analysis of factors influencing monetary policy decisions.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC revoked Seek Explore Sports Association, Inc.'s incorporation for offering securities without approval and fined it PHP 1 million. Violations of the Revised Corporation Code and Securities Regulation Code were found, with unregistered offerings resembling a Ponzi scheme. The entity used agents and social media for unauthorized solicitations, promising returns up to PHP 1.79 million.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-12-30•Philippines•Philippine Securities and Exchange Commission
The Philippine SEC was recognized by the Bangko Sentral ng Pilipinas as an Innovative Financial Education Partner for its creative financial education initiatives, including digital campaigns against online scams, relaunching the SEC Academy, and advocating financial literacy in high school curricula. The SEC plans to continue collaborating with the BSP and others to enhance financial literacy and combat investment scams.
Financial literacy & education Financial literacy and education
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2025-12-30•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released a statement from Ranking Member Elizabeth Warren criticizing a D.C. District Court decision that blocked the Trump Administration's attempt to defund the Consumer Financial Protection Bureau (CFPB). Warren labeled the funding cut as illegal and emphasized the CFPB's success in returning USD 21 billion to consumers as justification for its continued funding.
Other
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2025-12-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed eight individuals to pay a VND 1,000,000 fee for re-issuance of a securities practice certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person. Failure to collect the certificate within one year of the fee notice will result in cancellation.
Supervision Authorisations & approvals Licensing and supervisory fees
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2025-12-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed Phạm Tuấn Anh to pay a VND 1,000,000 fee for the re-issuance of a securities practising certificate for fund management. Payment can be made via bank transfer or directly to the Commission. Failure to complete the procedure within one year will result in cancellation of the certificate.
Supervision Authorisations & approvals Licensing and supervisory fees
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2025-12-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission announced a VND 1,000,000 fee for reissuing securities practising certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to collect the reissued certificate within one year will result in cancellation.
Policy & regulation Guidance & interpretation Licensing and supervisory fees
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2025-12-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission held a conference in Hanoi to discuss Decree 306/2025/ND-CP, amending provisions on administrative sanctions in securities and derivatives markets. The decree revises 24 of 59 articles, adds three, and focuses on aligning with new legislation, enhancing enforcement, and updating sanctions related to anti-money laundering and counter-terrorist financing. It also updates derivatives provisions to support national digital transformation and streamline administrative procedures.
Policy & regulation Rules & requirements Compliance
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2025-12-30•Portugal•Bank of Portugal
The Bank of Portugal has set the countercyclical capital buffer (CCyB) rate at 0.75%, effective from 1 January 2026 for credit institutions with domestic private sector exposures. This decision, consistent with the 2024 announcement, follows consultation with the National Council of Financial Supervisors and is detailed on the Bank's website.
Policy & regulation Rules & requirements Capital adequacy
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2025-12-30•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Jalal-Abad regional office fined a citizen KGS 17,500 for unlicensed cash foreign currency exchange operations.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-12-30•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic adopted Resolution No. 2025-P-12/69-5-(NFKU), amending regulations on the licensing of OJSC Financial Company of Credit Unions and credit unions. The resolution is available on the bank's official website.
Policy & regulation Rules & requirements Licensing framework and process
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2025-12-30•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic's Osh regional office fined two Kyrgyz citizens KGS 17,500 each for unlicensed cash foreign currency exchange operations in Osh.
Enforcement Investigations & enforcement actions Unlicensed or unauthorized activity
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2025-12-30•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has launched a public consultation on a draft decision to establish rules for financial platforms in response to the growth of digital financial technologies. The draft addresses anti-fraud and information security, digital documentation, personal data protection, and procedures for registration and deregistration of platform operators.
Policy & regulation Rules & requirements Fintech and insurtech
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2025-12-30•Kyrgyzstan•National Bank of the Kyrgyz Republic
At its annual meeting, the National Bank of the Kyrgyz Republic's Chairman, Melis Turgunbaev, emphasized the financial system's resilience and record growth in 2025. Priorities for 2026 include bank recapitalization, digital transformation, enhanced measures against financial crime, improved cybersecurity, and increased international cooperation.
Policy & regulation Reform agendas & priorities Financial stability and systemic risk Prudential risks
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2025-12-30•Iceland•Central Bank of Iceland
The Central Bank of Iceland has revised the currency weights in its exchange rate indices, effective 1 January 2026, based on 2024 trade data. Key changes include the removal of the South Korean won and the addition of the Turkish lira and Israeli shekel in broad baskets, with notable weight shifts for the Chinese yuan, US dollar, and euro.
Monetary policy Monetary policy instruments & operations Monetary policy decisions and developments Financial stability and systemic risk
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2025-12-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria reported a balance of payments surplus of USD 4.60 billion in Q3 2025, reversing the previous quarter's deficit. This was driven by a current account surplus of USD 3.42 billion and an increase in external reserves to USD 42.77 billion. Key contributors included a goods account surplus of USD 4.94 billion and remittance inflows of USD 5.24 billion.
Data & statistics Balance of payments and other external statistics
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2025-12-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's December 2025 PMI survey shows a rise in the composite PMI to 57.6 from 56.4 in November, indicating the strongest economic expansion of the year. Of the 36 subsectors, 32 reported growth, with key components such as Output, New Orders, and Employment also expanding. Input price indices exceeded output price indices across sectors, with Transportation Equipment showing the highest growth and Paper Products the largest decline.
Data & statistics Economic data and developments
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2025-12-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's December 2025 Purchasing Managers’ Index (PMI) rose to 57.6 from 56.4 in November, indicating the strongest economic expansion signal of the year. Sector readings showed continued growth, with the industry PMI at 57.0, services at 56.4, and agriculture at 58.5. Across 36 subsectors, 32 expanded, led by Transportation Equipment, while three contracted, with Paper Products experiencing the highest decline.
Data & statistics Economic data and developments
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2025-12-30•United States•Federal Deposit Insurance Corporation
The FDIC has enhanced its website to increase transparency in marketing and selling failing financial institutions, providing sample contractual templates for potential acquirers. Updates include information on franchise sales, nonbank asset bidders, alliance bids, and loan pools offered before bank failure. These resources apply to all FDIC-insured institutions and certain non-bank entities, with further template updates expected.
Policy & regulation Implementation, projects & pilots Other
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2025-12-30•United States•Federal Reserve Board
The Federal Reserve Board and the Federal Deposit Insurance Corporation have updated the 2026 asset-size thresholds for classifying banks under the Community Reinvestment Act examination procedures. The adjustments reflect a 2.51% increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. A "small bank" is defined as having assets under USD 1.649 billion, while an "intermediate small bank" has assets between USD 412 million and USD 1.649 billion.
Policy & regulation Rules & requirements Other
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2025-12-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority held a workshop on sustainability disclosures, emphasizing a shift from compliance to quality in evaluating disclosures' real-world impact. The assessment of 2024 disclosures revealed a gap between compliance and content quality, highlighting the need for improved institutional capabilities and data systems. The event also recognized 13 companies for excellence in sustainability and climate disclosures.
Supervision Reviews, inspections & stress tests Climate risk and sustainable finance
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2025-12-30•Chile•Chile Financial Market Commission
Chile's Financial Market Commission (CMF) was recognized as a "Model Institution" after scoring 83.1 points in the Public Innovation Index, a 13.9-point improvement from the previous year. This reflects advancements in resources, practices, procedures, cooperation, and openness, highlighting innovation institutionalization within the CMF. The recognition underscores CMF's alignment with a digital strategy and robust governance involving civil servants, users, and external contributors.
Institutional development Cooperation & capacity building Fintech and insurtech
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2025-12-30•Chile•Chile Financial Market Commission
The Chile Financial Market Commission's report on the banking system and cooperatives as of November 2025 highlights a 0.02% real-term decline in total bank loans over 12 months, driven by reduced commercial lending despite rising consumer and housing loans. Banks saw marginal increases in credit risk indices and a 2.41% real growth in cumulative profits, while savings and credit cooperatives experienced a 7.04% real-term loan growth, primarily in consumer loans, with mixed credit risk trends and a 5.98% rise in results.
Supervision Risk monitoring & watch points Asset quality Prudential risks
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2025-12-30•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has approved a revised methodology for calculating the Current and Maximum Conventional Interest Rates under Law No. 18,010. The update aims to enhance robustness and transparency using data from File D35, with the methodology publicly available. The new calculation method will be implemented from February 2026.
Policy & regulation Rules & requirements
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2025-12-30•Egypt•Central Bank of Egypt
The Central Bank of Egypt and African Export–Import Bank have signed an MoU to establish a pan-African Gold Bank programme to formalise gold value chains and strengthen central bank reserves. A feasibility study will assess the requirements for an integrated Gold Bank ecosystem in Egypt, including a refinery and vaulting facilities. The initiative aims to expand across Africa, involving governments, central banks, and industry stakeholders.
Policy & regulation Cooperation Market development
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2025-12-30•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration repealed 32 normative regulatory documents and declared 16 invalid, following a broad consultation. This action is part of a year-long effort that repealed 120 documents and declared 33 invalid, due to reasons such as supersession by newer rules and misalignment with supervisory practices. The administration aims to maintain coherence and consistency in the regulatory framework.
Policy & regulation Rules & requirements Regulatory burden
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2025-12-30•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senator Elizabeth Warren, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, responded to a D.C. District Court decision rejecting the Trump Administration's attempt to cut funding to the Consumer Financial Protection Bureau (CFPB), which she described as an illegal effort to "close down" the agency. Warren highlighted the CFPB's success in returning USD 21 billion to consumers and emphasized the importance of judicial enforcement to prevent such actions.
Other Consumer and investor protection
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2025-12-30•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued General Resolution No. 1102, detailing registration requirements for Trading Agents to become Management Companies for mutual funds, aligning with General Resolution No. 1089. It outlines conduct, organisational, and recordkeeping standards for dual-status entities to ensure independent supervision and client prioritisation, and restricts depositary status with the Central Depositary Agent of Negotiable Securities for firms registered as both collective investment product administration agents and Trading Agents.
Policy & regulation Rules & requirements Licensing framework and process
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2025-12-30•Argentina•Argentina Securities Commission (CNV)
Argentina’s Securities Commission (CNV) reformed Title III to streamline withdrawal from the public offering regime, public acquisition/exchange offers, and irrevocable contributions and debt capitalisation. The amendments clarify corporate decision-making, simplify formal requirements, and enhance transparency, including provisions for virtual assets and minority shareholder protection. This is part of CNV's broader deregulation and administrative simplification programme.
Policy & regulation Rules & requirements Regulatory burden
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2025-12-30•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) issued General Resolution No. 1100, amending rules on the primary placement of negotiable securities, markets, and clearing houses to enhance flexibility and predictability. Key changes include extended deadlines for placement contracts, increased flexibility on translations and legalisations, and reinforced disclosure obligations for Central Depositary Agents. The amendments clarify bookbuilding processes to simplify steps and maintain transparency.
Policy & regulation Rules & requirements Regulatory burden
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2025-12-30•Kazakhstan•National Bank of Kazakhstan
The National Bank of Kazakhstan will issue five types of bicolor coins under the “Animal World of Kazakhstan” series, featuring rare animals, with a total mintage of 15 million coins. Each coin, with a face value of KZT 100, will be circulated through second-tier banks and accepted for all payments across Kazakhstan. The coins are minted from a nibrass and nickel silver mixture at the Palace of Tenge of Kazakhstan.
Monetary policy Monetary policy instruments & operations Currency and cash management
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2025-12-30•South Korea•Bank of Korea
The Bank of Korea published its December 2025 update on the Business Survey Index and the Economic Sentiment Index. Detailed results are available in an accompanying attachment.
Data & statistics Economic data and developments
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2025-12-30•South Korea•Bank of Korea
The Bank of Korea announced a comprehensive revision of its monetary and liquidity aggregates statistics. The revision includes updates to monetary aggregates, liquidity aggregates, broad money, reserve money, and the depository corporations survey.
Data & statistics Monetary data
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2025-12-30•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released Chairman Tim Scott’s 2025 Year-in-Review report, detailing Senate Banking Committee Republicans’ achievements in housing, consumer protection, digital assets, and financial regulator oversight. The report emphasizes bipartisan legislative progress, executive nominee confirmations, and aims to enhance affordable housing access, consumer protections, and regulatory clarity for digital assets while countering unaccountable rulemaking.
Policy & regulation Reform agendas & priorities Other
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2025-12-30•Bhutan•Royal Monetary Authority of Bhutan
The Royal Monetary Authority of Bhutan will introduce three denominations of New Generation Ngultrum banknotes on 1 January 2026, featuring Nu 100, Nu 500, and Nu 1,000 notes on a polymer substrate. Existing Ngultrum banknotes will continue as legal tender alongside the new series. Distribution will occur via commercial banks nationwide.
Monetary policy Monetary policy instruments & operations Currency and cash management
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2025-12-30•Argentina•Central Bank of Argentina
The Central Bank of Argentina has launched a Municipal Tax Transparency Portal detailing municipal charges on financial institutions, as part of a fiscal transparency initiative by the Ministry of Economy. The portal features a Municipal Tax Map with detailed taxation data, supporting comparisons and analysis across localities, and includes province-specific information with downloadable reports.
Data & statistics Regulatory reporting
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2025-12-30•India•Securities & Exchange Board of India
The Securities and Exchange Board of India requires compliance officers of Alternative Investment Fund managers to obtain certification from the National Institute of Securities Markets by passing the NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification Examination. This requirement applies from 1 January 2027, and trustees, sponsors, or managers must ensure compliance is reflected in the manager’s Compliance Test Report.
Policy & regulation Rules & requirements Compliance
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2025-12-30•Moldova•National Bank of Moldova
The National Bank of Moldova has approved a regulation setting the own funds requirement for operational risk and updated its regulatory framework by amending and repealing certain normative acts. This was formalized by Decision No. 311 on 23 December 2025, with the regulation effective from 1 January 2027.
Policy & regulation Rules & requirements Capital adequacy Operational risk and resilience
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2025-12-30•Moldova•National Bank of Moldova
The National Bank of Moldova, with the Association of Banks in Moldova, AmCham Moldova, and the International Finance Corporation, held a workshop on Moldova’s green finance taxonomy. The draft Sustainable Finance Taxonomy is in its final development stage and under review by the Sustainable Finance Consultative Group. This initiative is part of the 2024–2028 Sustainable Finance Roadmap, aiming to integrate sustainable finance into Moldova’s regulatory framework and support climate-friendly investment.
Policy & regulation Rules & requirements Climate risk and sustainable finance
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2025-12-29•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Finance Ministry reported a meeting between Finance Minister Ambassador Khamis Mussa Omar and the Tanzania Insurance Regulatory Authority (TIRA) to review the insurance sector's growth. TIRA highlighted a 20.2% increase in gross written premiums to TZS 1.52 trillion in 2024 and a rise in the sector's contribution to national output to 2.08%. Discussions included sector challenges, strategies for increasing insurance uptake, and the need for regulatory updates.
Policy & regulation Reform agendas & priorities Market development
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2025-12-29•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority released its Annual Report for 2024/25, detailing its contributions to the capital market in line with Vision 2050 and the National Strategy for Transformation. The report highlights regulatory progress, product development, and investor outreach, emphasizing financial inclusion and partnerships to enhance market oversight and education.
Policy & regulation Implementation, projects & pilots Auditing
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2025-12-29•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority held a workshop with Insurance Commissioner Dr. Baghayo Saqware and agents to address issues in the agent channel and gather sector feedback. Discussions focused on digital systems and commission arrangements to enhance service delivery and support the government's goal of expanding insurance services nationwide. Senior TIRA officials, agent leaders, and a senior police inspector attended the session.
Policy & regulation Reform agendas & priorities Other
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2025-12-29•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's November 2025 Indicators report highlights continued credit expansion driven by a 12.5% increase in public deposits and a 10.2% rise in the credit portfolio. Credit quality and profitability improved, with a return on equity of 13.5% and a capital adequacy ratio of 18.7%. Liquidity and solvency remained above regulatory requirements, with a liquidity ratio of 35.3% and legal reserve requirements over-fulfilled.
Data & statistics Financial and market indicators Supervisory data
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2025-12-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia released a draft paper analyzing the impact of mobile wallets on retail payment preferences. The study highlights regional and user-level differences in adoption, influenced by economic interactions, digital connectivity, income, and perceptions of technology. Findings suggest mobile wallets complement existing payment methods, with evidence of users employing multiple payment options.
Research Monetary policy decisions and developments
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2025-12-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DG-GI-393, Topic 3, focusing on "Information management instruments".
Policy & regulation Guidance & interpretation Other
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2025-12-29•Colombia•Central Bank of Colombia
The Central Bank of Colombia released External Operational and Services Circular DTE-182, providing guidance on queries related to the authenticity and exchangeability of its banknotes and coins.
Policy & regulation Guidance & interpretation Currency and cash management
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2025-12-29•Germany•BaFin
Germany's BaFin will not object to Pfandbrief banks delaying electronic cover register submissions until June 2026, despite legal requirements. This anticipates changes under the Banking Guidelines Implementation and Bureaucracy Relief Act. Banks must still securely retain information for audits.
Supervision Regulatory reporting
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2025-12-29•Laos•Bank of the Lao
The Bank of the Lao's 2025 year-end review highlights a drop in inflation from 16.9% to 5.6%, stable exchange rates, and advancements in payment services and legal frameworks. The report notes compliance with stability rules by most financial institutions and expanded cross-border payment systems with neighboring countries. International efforts included collaboration with the International Monetary Fund and regional banks, amid challenges from external volatility and high debt servicing pressures.
Other
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2025-12-29•Ghana•Securities and Exchange Commission Ghana
Ghana's Parliament passed the Virtual Asset Service Providers Bill, creating a regulatory framework for virtual assets and VASPs. The framework designates the Bank of Ghana and the Securities and Exchange Commission Ghana (SEC) as key authorities, requiring licensing or registration for virtual asset activities. The SEC's oversight includes exchanges, trading platforms, tokenization, and related activities, with further guidelines anticipated.
Policy & regulation Rules & requirements Licensing framework and process Regulatory reporting
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2025-12-29•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission (SFC) has lifted restriction notices on three brokers, allowing the return of assets linked to false information in Hua Han Health Industry Holdings Limited’s financial statements. The notices were initially issued to preserve assets misappropriated by former Hua Han executives and deposited into Bull’s-Eye Limited’s accounts. The withdrawal follows successful money laundering prosecution, with Kroll Advisory taking control of the assets as joint liquidators.
Enforcement Investigations & enforcement actions Other
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2025-12-29•Ethiopia•National Bank of Ethiopia
The National Bank of Ethiopia announced enforcement actions against unlicensed Money Transfer Agents and illegal Hawala networks, including recipients of funds sent through these channels. It urged the use of licensed operators to avoid disruptions and protect accounts, identifying several unlicensed entities such as Shgey Money Transfer and Adulis Money Transfer.
Supervision Alerts Unlicensed or unauthorized activity
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2025-12-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Region 13 Branch and Dong Thap Province’s Department of Agriculture and Environment signed a regulation to enhance credit policies for agricultural and rural development in Dong Thap from 2025 to 2030. The agreement focuses on information exchange, policy implementation, addressing credit access issues, and supporting high-tech and circular agriculture, with Dong Thap accounting for 46% of the region's outstanding loans.
Policy & regulation Cooperation Domestic cooperation
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2025-12-29•Vietnam•State Bank of Vietnam
The State Bank of Vietnam Region 13 conducted a field survey with Tay Ninh’s Department of Agriculture and Environment to evaluate the implementation of a preferential loan programme for developing 1 million hectares of high-quality, low-emissions rice in the Mekong Delta by 2030. Findings will be used to address bottlenecks and enhance awareness of the programme's conditions, interest rates, and loan limits to support broader participation.
Supervision Risk monitoring & watch points SME financing
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2025-12-29•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) will exchange Bulgarian lev banknotes into euros free of charge following Bulgaria's euro adoption on 1 January 2026, with a fixed conversion rate of BGN 1.95583 per EUR 1. The service, available from 2 January to 2 March 2026, excludes coins, older banknote series, and 1- and 2-lev banknotes from the 1999 series, with a transaction cap of BGN 2,000 per person daily. Exchanges can be made at OeNB cash desks in Vienna and Innsbruck.
Monetary policy Other Balance of payments and other external statistics
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2025-12-29•Austria•Austria Financial Market Authority
Austria's Financial Market Authority (FMA) reported Q3 2025 growth in assets under management for Austrian pension and corporate provision companies, with pension assets up 3.5% to EUR 29.6 billion and corporate provision assets up 4.2% to EUR 22.9 billion. The Federal Government plans to enhance occupational retirement provision by allowing transfers from the "Abfertigung neu" severance scheme into pension companies. The FMA has consolidated supervision of occupational retirement provision and supports further second pillar reforms.
Supervision Risk monitoring & watch points Other
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2025-12-29•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, internet banking login screens, and phishing emails linked to Chong Hing Bank Limited and Chiyu Banking Corporation Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded 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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2025-12-29•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) has doubled the quota for the RMB Business Facility to RMB100 billion and expanded the roster to 40 participating banks from Phase 2. This phase, starting 1 December, allows banks to apply for RMB funds for broader financing activities, including capital expenditure and working capital loans. The HKMA will monitor progress and may add more banks based on facility usage and market demand.
Policy & regulation Implementation, projects & pilots Cross-border payments
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2025-12-29•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance reported a state budget surplus of EUR 5.162bn for Jan–Nov 2025, surpassing the target of EUR 0.225bn, with a primary surplus of EUR 12.678bn. Revenue overperformance was due to an early EUR 2.109bn receipt from the Recovery and Resilience Facility, while expenditures were EUR 2.643bn below target. The ministry anticipates the revenue deviation to be balanced in the December 2025 bulletin.
Data & statistics
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2025-12-29•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance has invited shortlisted investors, including Bain Capital Credit, Christofferson, Robb & Co, LLC, Fortress Credit Corp., and Resolute Cepal Greece SA, to submit binding offers for the Real Estate Acquisition and Leaseback Entity. Systemic banks are expected to support the structure with EUR 100 million. The Interim support programme for vulnerable debtors remains active, suspending enforcement on primary residences and providing a state subsidy of up to EUR 210 for loan instalments.
Institutional development Procurement Licence approval
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended the Asset Reconstruction Companies Know Your Customer Directions, 2025, clarifying that the entity that last updated a customer's KYC records in the Central KYC Records Registry is responsible for identity verification. Asset Reconstruction Companies relying on these records are exempt from re-verification if the records are current and compliant with the Prevention of Money-Laundering Act, 2002, but must ensure compliance with all other due diligence requirements.
Policy & regulation Rules & requirements KYC
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India has amended its Know Your Customer (KYC) Directions for All India Financial Institutions (AIFIs), clarifying that the regulated entity (RE) that last updated a customer's Central KYC Records Registry (CKYCR) record is responsible for identity and address verification. AIFIs downloading compliant CKYCR records are exempt from re-verifying these elements but must still fulfill other customer due diligence obligations.
Policy & regulation Rules & requirements KYC
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended its Local Area Banks Know Your Customer framework to clarify responsibility for verifying customer identity and address in the Central KYC Records Registry (CKYCR). The regulated entity that last updated a customer's KYC record in CKYCR is responsible for verification, while banks relying on compliant CKYCR records are exempt from re-verification but must ensure other due diligence and compliance.
Policy & regulation Rules & requirements KYC
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2025-12-29•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) updated its financial education programme, reporting over 2,800 student attendees in lectures on online investment traps. From October to December 2025, CySEC conducted 29 lectures, emphasizing safe money management and AI-related fraud risks. These efforts are part of CySEC's World Investor Week 2025, underscoring its commitment to investor education and protection.
Financial literacy & education Financial literacy and education
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2025-12-29•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency has raised compulsory traffic insurance coverage limits effective 2026. Property damage limits will increase from TRY 300,000 to TRY 400,000, and bodily injury limits from TRY 2.7 million to TRY 3.6 million, applying to all existing contracts without additional premiums. The tariff approach for vehicle groups has also been revised based on usage type, affecting premium calculations for individual and corporate operators.
Policy & regulation Rules & requirements Other
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended the Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Directions, 2025, clarifying accountability for customer identity and address verification in CKYCR records. The amendment specifies that the entity last updating a customer's KYC record is responsible for verification, while banks relying on current CKYCR records are exempt from re-verification but must ensure compliance with other due diligence requirements.
Policy & regulation Rules & requirements KYC
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended KYC requirements for payments banks, clarifying that the entity last updating a customer's KYC record in the Central KYC Records Registry is responsible for verifying identity and address. Banks downloading these records are exempt from re-verification if records are current and compliant with the Prevention of Money-Laundering Act, 2002, but must ensure all other customer due diligence and compliance.
Policy & regulation Rules & requirements KYC
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended its Small Finance Banks Know Your Customer Directions, 2025, clarifying that the entity last updating KYC records in CKYCR is responsible for verifying customer identity and address. Banks downloading these records are not required to re-verify them if they are current and compliant with the Prevention of Money-Laundering Act, 2002, but must ensure all other due diligence and compliance.
Policy & regulation Rules & requirements KYC
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2025-12-29•India•Reserve Bank of India
The Reserve Bank of India amended its Know Your Customer (KYC) directions for commercial banks, clarifying that the entity last updating a customer's KYC record in the Central KYC Records Registry (CKYCR) is responsible for verifying identity and address. Banks relying on current CKYCR records are exempt from re-verification, provided compliance with the Prevention of Money-Laundering Act, 2002, while remaining accountable for other due diligence aspects.
Policy & regulation Rules & requirements KYC