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2025-11-10•Costa Rica•Superintendencia General de Seguros de Costa Rica
Costa Rica's General Superintendency of Insurance shared an opinion by former president Miguel Ángel Rodríguez opposing proposals for early access to Mandatory Complementary Pension Regime (ROP) funds. Rodríguez argues this would undermine the pension system and weaken retirement income protection, as ROP accounts are meant to complement basic pensions and provide significant retirement benefits. Early withdrawals could reduce lifetime pensions, especially as Costa Rica's population ages.
Policy & regulation Other
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2025-11-10•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 messages involving China Construction Bank (Asia) Corporation Limited and The Hongkong and Shanghai Banking Corporation Limited. The HKMA emphasized 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.
Supervision Alerts Fraud and scams
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2025-11-10•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT and Uruguay’s SENACLAFT held regional training in Montevideo on terrorist financing investigations to enhance law enforcement and judicial capabilities per FATF standards. The event included 30 representatives from GAFILAT’s 18 delegations and featured sessions on investigative techniques, interdisciplinary collaboration, and the role of virtual assets and emerging technologies in terrorist financing cases.
Policy & regulation Implementation, projects & pilots AML and CFT Blockchain and distributed ledger technology
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2025-11-10•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that the Supreme Constitutional Court upheld its decision to fine four former directors of Cyprus Popular Bank for breaches of transparency and prospectus requirements. The ruling confirmed the Administrative Court's decision, dismissing allegations of partiality, and affirmed that prospectus approval does not exempt signatories from legal obligations. The violations pertained to financial reports and prospectuses from 2010 and 2011.
Enforcement Investigations & enforcement actions Accounting and financial reporting
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2025-11-10•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria and the European Central Bank have released materials to raise public awareness about the euro's introduction in Bulgaria, highlighting euro banknote design and security features. The package includes a public poster, staff training visualisations, and guidance on selecting banknote and coin authentication devices.
Financial literacy & education Currency and cash management
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2025-11-10•Global•Bank for International Settlements
The Bank for International Settlements released a paper evaluating generative AI, specifically ChatGPT, for managing intraday liquidity and payment prioritisation in wholesale payment systems. Simulations show a general-purpose large language model can replicate key cash-management practices, though consistency decreases with complexity. The paper highlights regulatory considerations for AI-driven payment operations, including testing, transparency, human oversight, and systemic risks.
Research Artificial intelligence Payments and payment systems
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2025-11-10•Ghana•Bank of Ghana
The Bank of Ghana hosted the inaugural Pan-African Central Bank Governors’ Conference with the Bank of England, focusing on leadership and institutional credibility amid economic and technological challenges. Governor Dr. Johnson Pandit Asiamah highlighted Ghana's stabilization efforts, reporting an 8% inflation rate, USD 11.4 billion in reserves, and a 34.9% appreciation of the cedi. The conference aims to enhance peer learning on central bank independence and regional cooperation.
Other Monetary policy decisions and developments
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2025-11-10•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency insists banks and financial institutions comply with information security for new digital services, including biometrics. Continuous oversight will ensure compliance, with mandatory system testing, data encryption using TLS 1.2 or higher, and secure storage of confidential information.
Policy & regulation Guidance & interpretation Cyber resilience Data protection
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2025-11-10•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan fined several commercial banks UZS 102 million each for non-compliance with consumer information disclosure laws on their websites. Violations included failure to provide information in the state language and omission of procedures for collateral property release. Affected banks include Agrobank, Anor bank, Hayot bank, and others.
Supervision Interventions Disclosures
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2025-11-10•Mexico•CONDUSEF
Mexico’s CONDUSEF reported a 6.9% decline in user complaints in Querétaro from January to September 2025, with 4,279 complaints making up 2.2% of the national total. The amount claimed rose by 27.7% to MXN 197.0 million, while the amount recovered fell by 18.8% to MXN 23.3 million. Credit cards, personal loans, and debit cards were the main sources of complaints, with unrecognised transactions and certain debt-collection practices being the leading causes.
Data & statistics Complaints and dispute resolution
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2025-11-10•Jordan•Jordan Securities Commission
The Jordan Securities Commission announced that Chairman Emad Mohammed Abu Haltam emphasized the need for further development of Islamic finance sukuk in Jordan during the inaugural meeting of the Central Shari’a Supervisory Board, which aims to facilitate sukuk issuance and legislative development. Prof. Dr. Moussa Mustafa Al-Qudah was elected chair, with Dr. Hassan Abu Arqoub as vice-chair, and additional members appointed by the Cabinet based on the Fatwa Council's recommendation.
Policy & regulation Implementation, projects & pilots Leadership change and appointments
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2025-11-10•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) plans to update Resolution 23/2023, recommending closed complementary pension entities integrate diversity, equity, and inclusion (DEI) into governance, especially for larger entities classified as S1 and S2. PREVIC emphasized DEI as a board-level issue, linking it to organizational culture and fiscal implications. The update aims to address exclusion's impact on employment and pension coverage.
Policy & regulation Rules & requirements Diversity and inclusion
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2025-11-10•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) released its annual and Ease of Doing Business (EODB) reports for the year ending 30 June 2025, outlining strategic objectives, improved stakeholder perceptions, and ongoing concerns about systems. Key developments include the Conduct of Financial Institutions legislation, a FinTech Sandbox programme, and modernization efforts, while the EODB survey showed improved communication but highlighted low confidence in streamlined processes.
Institutional development Governance Other
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2025-11-10•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 40.5% year-on-year decline in net foreign direct investment (FDI) inflows for August 2025, from USD 830 million to USD 494 million. Cumulative net inflows for January–August 2025 fell by 22.5% to USD 5.2 billion. Japan, the United States, Singapore, and South Korea were the top sources of equity capital, with manufacturing, wholesale and retail trade, and real estate as the main recipient industries.
Data & statistics Balance of payments and other external statistics
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2025-11-10•Oman•Central Bank of Oman
The Central Bank of Oman and the Ministry of Finance are hosting an International Monetary Fund mission for annual Article IV consultations, with meetings until 24 November 2025. Discussions will address macroeconomic developments, fiscal and monetary policies, financial sector development, and structural reforms related to Oman Vision 2040. The IMF will release a summary and detailed report post-consultations.
Policy & regulation Peer reviews and country evaluations Economic data and developments
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2025-11-10•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore shared insights from the Transition Credits Coalition's final report, promoting high-integrity energy transition credits for retiring coal plants in Asia. The report outlines frameworks to operationalize these credits, highlighting potential emissions reductions and the need for region-specific solutions. A Statement of Support, joined by 21 entities, signals interest in advancing projects, with the next phase focusing on concrete transactions.
Policy & regulation Reform agendas & priorities Climate risk and sustainable finance
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2025-11-10•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and Indonesia's Financial Services Authority renewed their Memorandum of Understanding on Cooperation in Financial Technology, expanding their 2018 agreement to include digital financial assets and artificial intelligence in financial services. The MOU outlines mechanisms for cooperation, such as sharing supervisory knowledge, promoting industry engagement, and facilitating cross-border information flows.
Policy & regulation Cooperation Fintech and insurtech Cross-border cooperation
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2025-11-10•Europe•European Central Bank
The European Central Bank's working paper analyzed the impact of benchmark rate changes on household mortgage and consumer borrowing conditions from 2022 to 2024, using a harmonized loan-level dataset. The study found nearly complete pass-through to mortgage rates (around 0.9) but weaker and more varied pass-through to consumer credit rates (around 0.4) across countries. It highlighted differences in contract structures and borrower demographics, with younger households and longer maturities experiencing stronger mortgage pass-through.
Research Lending
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2025-11-10•Europe•European Central Bank
The European Central Bank's working paper on euro-area repo markets finds significant collateral reuse, but securities dealers don't gain liquidity windfalls from haircut differentials. Based on 15 million transactions, 11.6% of European repo volume involves reused securities, more common in smaller, shorter trades and influenced by counterparty attributes. Policy-rate changes are likely to affect repo pricing and tenor rather than cause abrupt shifts in haircuts.
Research Market development
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2025-11-10•Europe•European Central Bank
The European Central Bank's research analyzes why banks adjust customer deposit rates less than policy rate changes, affecting monetary policy transmission. The study suggests banks set deposit rates to maximize profits and retain customers for future cross-selling, explaining why deposit rates can exceed policy rates. Using Norwegian data, the research finds weaker pass-through for clients with high cross-selling potential, indicating that cross-selling and market power influence deposit pricing and growth.
Research
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2025-11-10•Europe•European Central Bank
ECB Vice-President Luis de Guindos stressed central bank independence for inflation control, noting current interest rates align with targets. He cited falling services inflation, stable wage growth, reduced trade-policy uncertainty, and discussed geopolitical risks, high asset valuations, and non-bank sector concerns. He advocated for a macroprudential framework for non-banks and mentioned a potential digital euro by 2029, pending EU approval.
Monetary policy Monetary policy assessments & outlooks Monetary policy decisions and developments
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2025-11-10•Europe•European Central Bank
The European Central Bank's research shows euro area banks are integrating climate and energy performance into lending policies, affecting credit standards and loan demand. Banks eased credit standards for green firms and those in transition, while tightening conditions for high-emitting firms. In housing loans, higher energy performance led to eased credit standards and increased demand, whereas low energy performance and physical risks resulted in tightening conditions.
Research Other
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2025-11-10•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia has launched investED for Returning Women, a programme to assist women re-entering the capital market after career breaks. Part of the SC's diversity and inclusion agenda, it offers training in two phases: REFRESH for readiness and RESKILL for technical competencies, with incentives and job placement support. Over 600 applications have been received, primarily from women in their mid-30s to late-40s.
Policy & regulation Implementation, projects & pilots Diversity and inclusion
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2025-11-10•Brazil•Brazil Securities Commission (CVM)
Brazil’s Securities Commission (CVM) will hold a judgment session on 11 November for three administrative sanctioning proceedings. Cases involve alleged non-compliance by RSM Brasil Auditores Independentes Ltda., potential liability of Henrique Constantino as a board member of Gol Linhas Aéreas Inteligentes S.A., and ethical breaches related to the 2023 Lollapalooza festival. The session will be public, with in-person or videoconference attendance options.
Enforcement Investigations & enforcement actions Auditing
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2025-11-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) emphasized sustainability as a strategic priority during COP30, highlighting its inclusion in the CVM Regulatory Agenda 2025. Recent rulemaking incorporates sustainability-related requirements, such as anti-greenwashing measures and ISSB standards adoption. The CVM also detailed its Sustainable Finance Policy, international engagements, and educational initiatives, noting progress on 2023–2024 targets.
Policy & regulation Implementation, projects & pilots Climate risk and sustainable finance
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2025-11-10•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a public judgment session on 25 November for Administrative Sanctioning Proceeding 19957.013886/2022-02, concerning alleged price manipulation and fraudulent transactions by Cortel Holding S.A. and associated individuals. The session will be at CVM's headquarters in Rio de Janeiro, with options for in-person or videoconference attendance. A report by Director Marina Copola is available and may be amended post-session.
Enforcement Investigations & enforcement actions Market abuse
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2025-11-10•Albania•Albania Financial Services Authority
The Albania Financial Services Authority, with the International Association of Insurance Supervisors, is hosting IAIS activities in Tirana for the first time. The event includes technical committee meetings and bilateral discussions from 10–12 November, focusing on supervision, international standards, and insurance product development. The IAIS Annual Conference on 13–14 November will feature remarks from Albania’s Prime Minister, Edi Rama, and gather about 530 representatives from various sectors.
Policy & regulation Cooperation Other
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2025-11-10•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia, with the United Nations Economic and Social Commission for Asia and the Pacific and the Global Green Growth Institute, conducted capacity-building training for the Cambodia Sustainable Bond Accelerator Program Phase III. The initiative aims to enhance awareness and capability in developing sustainable bond frameworks. Supported by several organizations, the event was attended by 36 participants, including key program candidates.
Policy & regulation Implementation, projects & pilots Climate risk and sustainable finance
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2025-11-10•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia has initiated its 30th Training and Examination and Continuing Professional Education programme. This initiative aims to enhance professionalism among management and senior staff at SERC-licensed, approved, and accredited securities, collective investment scheme, and derivatives firms, as well as issuers and securities service providers.
Policy & regulation Implementation, projects & pilots Capacity building
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2025-11-10•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro's Council adopted amendments to reduce bank fees for central bank services in RTGS and DNS payment systems by 50% from December 2025, aiming to enhance payment system efficiency and align with European standards. The revised tariff will lower fees for executing orders, supporting the national instant payments system (TIPS Clone). Additionally, draft laws propose clearer regulatory treatment for credit institution resolutions and mandate basic consumer payment accounts for all Montenegrin credit institutions.
Policy & regulation Rules & requirements Payments and payment systems
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2025-11-10•Montenegro•Central Bank of Montenegro
Governor Irena Radovic of the Central Bank of Montenegro met with Erste Group to discuss aligning Montenegro's payment systems with European standards, focusing on SEPA adherence and the TIPS Clone project for instant payments. The central bank aims to enhance interoperability with the European Central Bank's TIPS system, fostering market competition and attracting new service providers. Both parties committed to deepening cooperation on digital transformation, payment infrastructure, financial inclusion, and stability.
Policy & regulation Cooperation Cross-border cooperation Payments and payment systems
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2025-11-10•Global•Sustainable Insurance Forum
The UNDP Sustainable Insurance Forum (SIF) held its second in-person meeting of 2025 in Tirana, Albania, to review its proposed 2026–2027 strategy and align future priorities. The session, led by SIF's new Chair, Fundi Tshazibana, Deputy Governor of the South African Reserve Bank, coincided with the IAIS annual meeting. Discussions included SIF's 10-year anniversary in 2026 and its future supervisory leadership on sustainability.
Policy & regulation Reform agendas & priorities Climate risk and sustainable finance
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2025-11-10•Russia•Central Bank of Russia
The Central Bank of Russia reviewed financial consumer complaints from January to September 2025, noting a 15.8% increase to 280,000 complaints year-on-year, with growth slowing from 23.1% in Q1 to 11% in Q3. Insurer-related complaints fell significantly, driven by a 70% drop in compulsory motor third-party liability insurance complaints due to changes in the bonus-malus coefficient adjustment process. Bank-related complaints rose by 21%, primarily linked to anti-fraud measures, while complaints against microfinance organisations increased by over 10%, mainly concerning refunds and loan repayment holidays.
Data & statistics Complaints and dispute resolution
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2025-11-10•Global•ISDA
The International Swaps and Derivatives Association (ISDA) received Regulation Asia’s Outstanding Contribution to Regulatory Reform award for its Digital Regulatory Reporting (DRR) initiative, which uses the Common Domain Model to enhance compliance accuracy and efficiency. ISDA DRR currently covers reporting rules in eight jurisdictions and aims to expand to 12 rule sets in nine jurisdictions.
Other Regulatory reporting
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2025-11-10•Global•ISDA
The International Swaps and Derivatives Association (ISDA) and Capgemini published a paper on the ISDA Digital Regulatory Reporting (DRR) initiative, highlighting improved data quality, reduced costs, and increased efficiency. The DRR, using the Common Domain Model, facilitates faster implementation by translating rule sets into machine-executable code, currently covering eight jurisdictions with plans to extend to 12 rule sets across nine jurisdictions.
Policy & regulation Guidance & interpretation Regulatory reporting
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2025-11-10•United Kingdom•Bank of England
The Bank of England issued a consultation paper on a regulatory regime for sterling-denominated systemic stablecoins, focusing on prudential and financial stability supervision. The regime targets stablecoins for retail payments and potential wholesale settlement, allowing systemic issuers to hold up to 60% in short-term UK government debt. Temporary holding limits are proposed to manage risks from rapid bank deposit outflows, with exemptions for large businesses and separate provisions for wholesale market transactions.
Policy & regulation Rules & requirements Stablecoins
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2025-11-10•Malta•Central Bank of Malta
The Central Bank of Malta's annual financial stability seminar focused on the impact of rapid technological change, particularly AI, on financial stability risks. Governor Professor Edward Scicluna emphasized AI's opportunities and risks, highlighting the need for transparent communication and collective preparedness. The event featured a keynote by Paul Hiebert of the European Central Bank and discussions on AI's implications for financial stability.
Research Artificial intelligence Financial stability and systemic risk
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2025-11-10•Hungary•National Bank of Hungary
The National Bank of Hungary's Commercial Real Estate Market Report indicates improved sentiment and increased investment in 2025 H1, but warns of rising vacancy rates in Budapest's office and industrial-logistics sectors due to oversupply risks. A sectoral systemic risk buffer requirement will be introduced for credit institutions from 1 January 2026. The report notes a 67% year-on-year increase in investment volume to EUR 300 million and a 19% rise in CRE-backed project loans, with moderate overall exposure.
Policy & regulation Rules & requirements Credit risk Market risk and volatility
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2025-11-10•Hungary•National Bank of Hungary
Governor Mihály Varga of the National Bank of Hungary stressed price and financial stability's importance at a Bank for International Settlements meeting, highlighting international cooperation's role in addressing challenges. He signed a partnership with the Bank of Korea for knowledge-sharing and joint research in digital financial innovation. Varga identified inflation as a key obstacle to sustainable growth, noting trade tensions and geopolitical developments as factors influencing the global economic outlook.
Policy & regulation Cooperation Monetary policy decisions and developments Financial stability and systemic risk
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2025-11-10•Pakistan•State Bank of Pakistan
State Bank of Pakistan Governor Jameel Ahmad, at CFA Society Pakistan’s Annual Excellence Awards, highlighted macroeconomic stabilization from prudent policies, noting reduced inflation and stronger fiscal buffers. He stressed the need for capital market development to meet private sector credit and investment demands, suggesting infrastructure improvements, alternative products, digital access, and transparency. Ahmad praised CFA Society Pakistan for promoting ethical investment practices.
Monetary policy Monetary policy assessments & outlooks Corporate governance ESG
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2025-11-10•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority now requires Egyptian insurers to engage only with reinsurers registered by the Authority. The framework mandates tighter registration criteria, including oversight by a comparable foreign regulator, a minimum international credit rating, and specific financial conditions for commercial and takaful reinsurers. Insurers must comply within a year, with non-compliant reinsurers facing delisting. The Authority will publish a list of compliant entities.
Policy & regulation Rules & requirements Licensing framework and process
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2025-11-10•Egypt•Egypt Financial Regulatory Authority
At the Annual Insurance and Reinsurance Forum, Egypt Financial Regulatory Authority chair Mohamed Farid outlined the insurance-sector reform agenda, emphasizing 47 regulatory decisions since the Unified Insurance Law. Key developments include a title deed insurance policy, changes to investment rules, and digital transformation. Measures involve capital requirements, solvency standards, and a customer complaints framework, with further steps including investment decisions and leadership training programs.
Policy & regulation Reform agendas & priorities
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2025-11-10•Greece•Hellenic Capital Market Commission
The Hellenic Capital Market Commission approved Euronext N.V.'s revised optional public offer to shareholders of Hellenic Exchanges – Athens Stock Exchange S.A. The revision reduces the minimum share requirement for offer validity from 38,759,500 to 28,925,001 shares, aligning with Article 21 of Law 3461/2006.
Supervision Authorisations & approvals Securities offerings and listings
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2025-11-10•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) will host a digital seminar for reporting leads, board members, and audit committee members of listed companies, focusing on supervisory follow-up of issuer reporting and evolving requirements. The agenda includes IFRS, sustainability reporting, disclosure obligations, priorities for 2025, Finanstilsynet's role in takeover bids, and rules on inside information. The seminar will also mark 20 years of financial reporting enforcement.
Supervision Supervision approach, priorities & toolkit Accounting and financial reporting
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2025-11-10•Europe•European Central Bank - Banking Supervision
The European Central Bank Banking Supervision imposed periodic penalty payments of EUR 187,650 on ABANCA Corporación Bancaria, S.A. for failing to assess its climate-related and environmental risks. The penalties were based on the infringement's materiality, breach duration, and the bank's daily turnover. ABANCA can challenge the decision before the Court of Justice of the European Union.
Enforcement Investigations & enforcement actions Climate risk and sustainable finance
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2025-11-10•Qatar•Qatar Financial Centre
The Qatar Financial Centre introduced the Platinum Onboarding Service, a fast-track incorporation option under its Elite Services framework, enabling businesses to establish in the QFC within one hour post-application submission. This highest-tier service offers tailored onboarding support, including issuance of computer and tax cards for Qatar residents, alongside concierge services like airport meet-and-greet and relocation assistance.
Policy & regulation Implementation, projects & pilots Licensing framework and process
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2025-11-10•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) outlined its regulatory modernisation agenda at a Moody’s Local roundtable, highlighting the approval of the country's first closed-end investment fund for mortgage loans. CNV President Roberto E. Silva noted the issuance of 100 regulations to enhance regulatory functions and market transparency. The event also discussed the Mortgage Financial Trusts Regime and market conditions for mortgage-backed securitisation.
Policy & regulation Implementation, projects & pilots Securitization
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2025-11-10•India•Securities & Exchange Board of India
The Securities and Exchange Board of India's High Level Committee has submitted its report on conflict of interest provisions and disclosure requirements for SEBI members and officials. The report, chaired by former Chief Vigilance Commissioner Pratyush Sinha, recommends a strengthened framework including a recusal policy, public disclosure requirements, and mechanisms for public complaints.
Policy & regulation Reform agendas & priorities Other
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2025-11-10•Argentina•Central Bank of Argentina
The Central Bank of Argentina will host its inaugural "Supervision Days" on 13–14 November 2025 in Buenos Aires, focusing on financial supervision in a transforming financial system. The event will feature discussions on SUPTECH, digital fraud, Open Finance, and new regulatory requirements for the fintech sector, with participation from domestic and international experts. Presentations and videos will be available on the central bank's website post-event.
Supervision Supervision approach, priorities & toolkit Supervision process and methodologies Regtech and suptech
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2025-11-10•Bhutan•Royal Monetary Authority of Bhutan
The Royal Monetary Authority of Bhutan has issued a warning about OTP scams, particularly prevalent during holidays, involving impersonation of officials to extract sensitive information. Scammers use platforms like WhatsApp and social media to promote fake lotteries and investments. The public is advised not to share OTPs or personal banking details and to verify any suspicious communications directly with banks or relevant agencies.
Supervision Alerts Fraud and scams
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2025-11-10•Europe•Single Resolution Board
The Single Resolution Board (SRB) released its dashboard on the minimum requirement for own funds and eligible liabilities (MREL) for the first half of 2025, indicating banks are largely meeting targets. The average final MREL target for resolution entities was 27.9% of total risk exposure amount, with a minimal aggregate shortfall of EUR 0.3bn. Entities required to comply with final MREL targets from January 2024 are meeting requirements, with shortfalls linked to banks in transitional periods.
Data & statistics Regulatory reporting
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2025-11-10•Moldova•National Bank of Moldova
The National Bank of Moldova, with World Bank assistance, is finalizing Moldova’s National Financial Inclusion Strategy 2030 and its implementation plan. The strategy aims to enhance access to and quality of financial services for individuals and micro, small, and medium-sized enterprises. Development is supported by the M-GROW trust fund and involves a working group formed under a memorandum with multiple national entities.
Policy & regulation Reform agendas & priorities Financial inclusion
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2025-11-10•Barbados•Central Bank of Barbados
The Central Bank of Barbados reported a shift from cash and cheques to electronic payments, highlighted by the rise in its Digital Payments Index (DPI) from -0.86 in 2013 to +1.03 in 2024. The Bank introduced BiMPay, a 24/7 instant payment system set to launch in March 2026, aiming to enhance payment accessibility and security. Key adoption priorities include trust, cybersecurity, and merchant acceptance, supported by the Central Bank of Barbados Act and the National Payment System Act 2021.
Policy & regulation Implementation, projects & pilots
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2025-11-10•Denmark•Danish Finanstilsynet
Danish Finanstilsynet reviewed 2024 principal adverse impact statements from 15 financial firms, finding satisfactory disclosures but lacking concrete, measurable measures and accessibility on websites. The review highlighted clearer descriptions for climate impacts than social indicators and urged firms to specify measurable targets for each PAI indicator. Persistent data challenges were noted, and firms are expected to act on recommendations before the next cycle.
Supervision Reviews, inspections & stress tests Disclosures
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2025-11-10•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority reported that 2024 loss levels for mortgage-secured exposures were below limits, allowing credit institutions to apply lower Capital Requirements Regulation risk weights in Denmark, Greenland, and the Faroe Islands. Up to 55% of a residential property's value can be risk-weighted at 20%, and up to 55% of a commercial property's value at 60%, provided market conditions are met. Institutions must individually assess the prudence of using these lower risk weights.
Policy & regulation Implementation, projects & pilots Credit risk
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2025-11-09•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority chaired the eleventh meeting of the Ministerial Committee of GCC capital market regulators, focusing on regional supervisory and market-development coordination. Discussions included strengthening securities control, enhancing electronic knowledge linkage, and updates on the Inter-Registration Regulation and GCC financial market developments. The Saudi Capital Market Authority presented on the MALAM programme and the Gulf Smart Investor Award.
Policy & regulation Cooperation Domestic cooperation
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2025-11-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
BIM Capital has fulfilled the commencement-of-business requirements to conduct arranging activities under its securities business license, as announced by the Saudi Arabia Capital Market Authority. The license was granted by a CMA resolution dated 30 December 2024.
Supervision Authorisations & approvals Licence approval
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2025-11-09•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority fined Mohammed Hasan AlNaqool Sons Co. SAR 20,000 for not disclosing financing from its chairman to the CMA and the public. The financing, totaling SAR 27,182,075, exceeded 1% of the company's total revenues as per its 2020 financial statements, violating paragraph (11) of Article (62) of the Rules on the Offer of Securities and Continuing Obligations.
Enforcement Investigations & enforcement actions Disclosures
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2025-11-09•China•Central Bank of the Republic of China
The People's Bank of China and Swiss authorities held the third China–Switzerland ministerial financial meeting in Bern, discussing economic and financial outlooks, global governance, and bilateral cooperation. Key topics included financial market connectivity, digital innovation, and sustainable finance, with a memorandum signed on financial intelligence exchange to combat money laundering and terrorist financing. Both sides committed to pragmatic follow-up on cooperation in priority areas.
Policy & regulation Cooperation Cross-border cooperation AML and CFT
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2025-11-09•Qatar•Qatar Central Bank
Qatar Central Bank has introduced a podcast page on its website utilizing artificial intelligence to convert extensive policies and guidelines into interactive audio content, enhancing engagement and accessibility in alignment with the Third Financial Sector Strategy and Qatar National Vision 2030.
Financial literacy & education Artificial intelligence
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2025-11-09•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic hosted a roundtable on cybersecurity challenges, emphasizing public awareness in handling personal information and online activity. Experts highlighted AI-related risks like identity impersonation and data theft, stressing the need to embed cybersecurity across government and society. Sector-specific challenges include high interconnectivity and rapid cyberattacks, with mitigating factors like significant investment and collaboration with regulators.
Financial literacy & education Cyber resilience
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2025-11-09•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore, with the Global Finance & Technology Network and Constellar, announced the Singapore FinTech Festival 2025 programme, focusing on AI, tokenisation, and quantum technologies. The event will feature over 800 speakers and 500 exhibitors, addressing themes like responsible AI, tokenisation, and financial inclusion. New initiatives include a Next Gen Leaders Programme and the SME Sustainability Barometer 2025 report.
Policy & regulation Implementation, projects & pilots Fintech and insurtech Artificial intelligence Tokenization
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2025-11-09•Oman•Oman Financial Services Authority
The Oman Financial Services Authority has suspended the Saud Al Zadjali Law Firm from practicing for one year due to violations of the Capital Market Law and the Commercial Companies Law. The firm failed to obtain necessary approvals and did not meet regulatory requirements. The suspension is effective from 4 November 2025.
Enforcement Sanctions & designations Corporate governance
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2025-11-09•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority joined a tree-planting initiative at the Sharm El Sheikh Insurance and Reinsurance Forum to offset carbon emissions from guest travel. This aligns with FRA's broader emissions reduction efforts, including launching Egypt and Africa's first voluntary carbon market. The forum, themed “Insurance in Light of Global Changes,” addresses emerging risks and the insurance sector's response to climate, geopolitical, and economic challenges.
Policy & regulation Implementation, projects & pilots Climate risk and sustainable finance
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2025-11-09•Egypt•Egypt Financial Regulatory Authority
Egypt Financial Regulatory Authority Chair Mohamed Farid proposed "smart regulation" to foster innovation in non-banking financial markets, emphasizing supervision for confidence-building. A temporary "Startup License" was introduced for sectors like mortgage and consumer finance, allowing model testing without full licensing. Legislative developments are underway to support new tools, including real estate crowdfunding and company valuation tools.
Policy & regulation Rules & requirements Fintech and insurtech Market development
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2025-11-08•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) began building its North Sumatra Provincial Office in Medan to boost regional regulatory functions, following its expanded mandate under Law No. 4 of 2023. The office, OJK's seventh regional facility, will feature sustainability and efficiency, including a "green building" concept. As of September 2025, North Sumatra's financial system includes 107 banking entities, 196 non-bank financial entities, and 96 capital market entities, with banking credit of IDR 312 trillion and a 13.6% year-on-year growth.
Institutional development Other Mandate change
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2025-11-08•Georgia•National Bank of Georgia
The National Bank of Georgia celebrated Bankers’ Professional Day, marking the 30th anniversary of the Georgian Lari and honoring long-serving employees. Governor Natia Turnava emphasized the banking sector's role in economic resilience and highlighted the bank's commitment to monetary policy, price stabilization, and financial innovation. The event also featured the inaugural Tbilisi Finance Summit, attracting over 1,000 delegates from more than 50 countries.
Other
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2025-11-08•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland’s Center for Inflation Research reported a decrease in US business leaders' inflation expectations, with anticipated Consumer Price Index (CPI) inflation at 3.5% for the next 12 months, down from 3.9% in the previous quarter. The Survey of Firms’ Inflation Expectations (SoFIE) gathers data from a broad panel of manufacturing and services firms to monitor inflation expectations influencing pricing decisions.
Data & statistics Economic data and developments
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2025-11-08•Vietnam•State Bank of Vietnam
The State Bank of Vietnam Governor outlined strategies for late 2025 and early 2026, emphasizing macroeconomic stability, inflation control, and GDP growth above 8%. The approach includes proactive monetary policy, flexible exchange and interest rates, and stable gold and foreign-exchange markets. Credit will focus on production, business, and priority areas, while lending to risk-prone sectors like real estate will be tightly controlled.
Monetary policy Monetary policy framework & strategy Economic data and developments
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2025-11-08•India•Securities & Exchange Board of India
The Securities and Exchange Board of India (SEBI) cautioned against investing in "Digital Gold/E-Gold" on digital platforms, as they lack SEBI's regulatory oversight and securities-market protections. SEBI advised investing through SEBI-regulated products like exchange-traded commodity derivative contracts, Gold Exchange Traded Funds (ETFs), and Electronic Gold Receipts (EGRs). Digital gold products are not classified as securities or regulated commodity derivatives, posing potential counterparty and operational risks.
Supervision Alerts Unlicensed or unauthorized activity
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2025-11-08•Moldova•National Bank of Moldova
The National Bank of Moldova released a podcast transcript with Governor Anca Dragu and financial education expert Galina Cicanci, discussing saving habits, investment balance, and online fraud risks. Dragu emphasized the importance of an emergency reserve and highlighted the liquidity of bank deposits. The podcast referenced a World Bank survey showing varied saving behaviors and noted household deposits grew by over 8% year on year, exceeding EUR 4bn.
Financial literacy & education
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2025-11-08•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank awarded National Bank of Dominica Ltd the 2025 Eastern Caribbean Currency Union Distinguished Bank of the Year title at the ECCU Bank of the Year Awards Ceremony. The bank also received accolades for Customer Service and Technological Innovation. The awards, launched in 2024, recognize banks for strategic initiatives and innovative practices, with seven commercial banks submitting 34 entries.
Other
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2025-11-07•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo launched the "Economy for All" campaign to enhance financial access for persons with disabilities, collaborating with the Kosovo Disability Forum and the Kosovo Banking Association. Supported by the European Fund for Southeast Europe, it aligns with the central bank's 2024–2028 strategic priorities on financial inclusion, consumer protection, and equal service access. Key measures include the Basic Services Account, a financial education platform with sign-language resources, and new regulations for non-discriminatory banking and insurance access.
Financial literacy & education Financial literacy and education
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2025-11-07•United Kingdom•Payment Systems Regulator
The UK Payments Vision Delivery Committee, comprising HM Treasury, the Bank of England, the Financial Conduct Authority, and the Payment Systems Regulator, has released a strategy for developing the next generation of the UK’s retail payments infrastructure. It focuses on innovation, competition, and security, with priorities like expanding payment choices, promoting inclusion, combating financial crime, and ensuring resilience. A Payments Forward Plan will detail future initiatives.
Policy & regulation Reform agendas & priorities Payments and payment systems
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2025-11-07•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste reported the Petroleum Fund's investment position as of 30 September 2025, with total assets of USD 18.95 billion. The assets include USD 12.74 billion in global fixed income, USD 5.62 billion in global equities, and USD 589 million in private debt.
Data & statistics Other
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2025-11-07•Timor-Leste•Central Bank of Timor-Leste
The Central Bank of Timor-Leste reported a capital movement of USD 1.34 million, with no transfer to the State Budget and a return of USD 207.04 million.
Data & statistics Balance of payments and other external statistics
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2025-11-07•Pakistan•State Bank of Pakistan
The State Bank of Pakistan reported workers' remittances of USD 3.4 billion in October 2025, marking a 7.4% increase month on month and 11.9% year on year. Cumulative remittances for July to October of fiscal year 2026 reached USD 13.0 billion, up 9.3% from the previous year. October inflows were mainly from Saudi Arabia, the United Arab Emirates, the United Kingdom, and the United States.
Data & statistics Balance of payments and other external statistics
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2025-11-07•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) reported financial sector stability after its October 2025 meeting, noting strengthened domestic market indicators and 7.70% year-on-year credit growth. Key actions included administrative fines, banking licence revocations, and enhanced due diligence for accounts linked to online gambling. Regulatory updates featured a pawnshop sector roadmap, new bank account management standards, and a consultative paper for the Indonesia Sustainable Finance Taxonomy.
Policy & regulation Rules & requirements Fintech and insurtech Financial stability and systemic risk
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2025-11-07•Italy•Bank of Italy
The Bank of Italy has initiated the data collection process for the 2026 contribution cycle to the Single Resolution Fund.
Policy & regulation Implementation, projects & pilots Regulatory reporting
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2025-11-07•Mexico•Central Bank of Mexico
The Central Bank of Mexico has launched a public consultation on proposed amendments to the Costo Anual Total (CAT) rules to enhance credit cost comparability and improve borrowing decisions. Key changes include updating CAT methodology for credit card advertising, revolving credit, and loans secured by liquid collateral, and incorporating debt-based crowdfunding institutions. The amendments also propose aligning commission calculations with registered data and standardizing CAT presentation in credit simulators and comparison tools.
Policy & regulation Rules & requirements Disclosures
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2025-11-07•Italy•Bank of Italy
The Bank of Italy released a research paper detailing a 2024 survey of Italian non-financial corporations on climate change risk management. Findings reveal significant gaps in emissions and physical risk management, transition planning, and governance, with climate risk practices varying by governance structure, sector, and region. The Bank plans to incorporate these insights into its In-house Credit Assessment System (ICAS).
Research Climate risk and sustainable finance
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2025-11-07•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported a record high of USD 49,516.3 million in international reserves as of 1 November 2025, a 6.4% increase in October. This rise was driven by significant inflows from international partners, surpassing net foreign exchange sales and foreign currency debt servicing. Reserves now cover 5.1 months of future imports.
Data & statistics Balance of payments and other external statistics
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2025-11-07•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka has issued new directions on liquidity risk management for finance companies under the Finance Business Act, outlining principles and minimum requirements for a comprehensive framework. The directions mandate an integrated approach to liquidity strategy, governance, and risk mitigation, with specific requirements for stress testing, reporting, and contingency planning. Compliance deadlines are set for 1 April 2026 for firms with assets of LKR 100 billion and above, and 1 April 2027 for smaller firms.
Policy & regulation Rules & requirements Liquidity risk
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2025-11-07•Botswana•Bank of Botswana
The Bank of Botswana's Financial Stability Council reported the financial system remains resilient but highlighted macro-financial risks like subdued growth and liquidity challenges. Key risks include high household credit concentration, rising debt-service-to-income ratios, and sovereign-sector pressures from weak diamond markets. Regulatory developments enhancing resilience include the Banking Act, 2023, and related amendments, alongside reforms in investment and payment services.
Supervision Risk monitoring & watch points Financial stability and systemic risk Macroprudential policy and tools
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2025-11-07•Kenya•Central Bank of Kenya
The Central Bank of Kenya's communique from the 16th Annual Board Retreat of the Joint Financial Sector Regulators Forum outlines supervisory priorities for technology-driven changes in Kenya’s financial sector. Priorities include assessing financial stability impacts of innovative products, mapping concentration risks from third-party technology providers, and developing strategies for emerging technologies like AI and Machine Learning. The Forum also aims to enhance AML/CFT/CPF supervisory capacity, strengthen consumer protection, and align crisis management frameworks with international standards.
Supervision Supervision approach, priorities & toolkit Fintech and insurtech Supervision process and methodologies
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2025-11-07•Mozambique•Ministry of Finance (Mozambique)
Mozambique's Ministry of Finance has presented a draft law to parliament to revise the insurance regime governed by Decree-Law No. 1/2010. The changes aim to update access, conduct, and financial guarantee requirements for insurers, and separate supervisory provisions from market entry rules. The ministry supports the reform with 2024 market data, highlighting an 11.5% production increase to MZN 24.16 billion and insurance penetration of 1.66%.
Policy & regulation Rules & requirements Licensing framework and process
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2025-11-07•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved amendments to regulations on share issuance and made decisions on sanctioned assets and securities registrations. Key actions included approving prospectus appendices for NovaPay Credit LLC bonds, denying FC Global Capital LLC a licence for capital market activities, and registering share issues for JSC ZNVCIF entities. Amendments to existing decisions and proposals for personal sanctions were also addressed.
Policy & regulation Rules & requirements Securities offerings and listings
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2025-11-07•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL's 2024 report shows progress in anti-money laundering and counter-terrorist financing standards, but significant shortcomings remain in core effectiveness areas. The fifth evaluation round highlighted strong international cooperation and beneficial ownership transparency but noted weaknesses in money laundering prosecution and asset confiscation. The sixth evaluation round began in 2024, with Latvia's mutual evaluation adopted in June 2025.
Policy & regulation Peer reviews and country evaluations AML and CFT
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2025-11-07•China•Ministry of Finance (China)
The China Securities Regulatory Commission and the Ministry of Finance have issued the Measures for the Administration of the Securities Settlement Risk Fund, effective 8 December 2025.
Policy & regulation Rules & requirements Market infrastructure
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2025-11-07•Lithuania•Ministry of Finance (Lithuania)
Lithuania's Finance Minister Kristupas Vaitiekunas met with European Commissioner Maria Luís Albuquerque to discuss the European Commission’s plans to deepen EU capital markets through the Savings and Investments Union. The initiative aims to enhance market transparency, improve business access to finance, and increase retail investment participation. The meeting also addressed strengthening EU sanctions against Russia and Belarus, focusing on energy and financial sectors.
Policy & regulation Reform agendas & priorities Geopolitical risk Market development
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2025-11-07•Lithuania•Ministry of Finance (Lithuania)
Lithuania's Finance Minister Kristupas Vaitiekunas stressed the need for private investment and capital market expansion to complement public funding for defence and competitiveness at the 11th International Conference on Financial Markets. He advocated for deeper EU Capital Markets Union integration and highlighted the Baltic Capital Markets Initiative as a regional model. Vaitiekunas also called for enhanced European Commission support through the Technical Support Instrument and endorsed the new Savings and Investments Union to boost investment, particularly for SMEs.
Policy & regulation Reform agendas & priorities Market development
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2025-11-07•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York's October 2025 Survey of Consumer Expectations shows a decline in short-term inflation expectations to 3.2%, while medium- and long-term expectations remain stable at 3.0%. Labor market expectations are mixed, with higher unemployment and weaker job-finding prospects, but a slight decrease in perceived job-loss risk. Credit availability perceptions improved, though optimism about household finances decreased.
Data & statistics Economic data and developments
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2025-11-07•China•Central Bank of the Republic of China
The Central Bank of the Republic of China released its China Inclusive Finance Indicator Analysis Report (2024–2025), highlighting improvements in inclusive finance coverage and quality, with enhanced support for rural revitalisation and small businesses. Key developments include expanded digital renminbi pilots, increased lending to technology-focused SMEs, and strengthened financial services for small enterprises. The report also notes stable issuance of rural revitalisation bonds and expanded inclusive insurance and agricultural risk protection.
Research Financial inclusion
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2025-11-07•Europe•European Banking Authority
The European Banking Authority (EBA) has initiated data collection through national competent authorities to identify EU counterparties using ISDA SIMM models for initial margin, requiring EBA validation. Counterparties must seek authorisation from their competent authorities under EMIR, with non-compliance carrying legal consequences. The EBA aims to onboard these counterparties to its validation system by mid-2026, with validation applications expected in the latter half of 2026.
Policy & regulation Implementation, projects & pilots Market infrastructure
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2025-11-07•Norway•Department of Finance (Norway)
Norway's Ministry of Finance proposes amendments to the Central Bank Act, allowing Norges Bank to extend credit to the state for up to 90 days under certain conditions. The amendments also address oversight arrangements, publication of dialogues and reports, and adjustments to eligibility rules for key positions. Additionally, Norges Bank would gain access to the National Population Register, subject to privacy and proportionality assessments.
Policy & regulation Rules & requirements Liquidity risk Financial stability and systemic risk
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2025-11-07•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released findings from a review of contracts for difference (CFD) providers, highlighting inconsistent compliance with the Consumer Duty "price and value" outcome. The review identified shortcomings in fair value assessments and governance, with firms often failing to justify costs relative to benefits for retail clients. The FCA urged firms to address these gaps and will maintain supervisory oversight and direct engagement with selected firms.
Supervision Reviews, inspections & stress tests Consumer and investor protection Corporate governance
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2025-11-07•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong and the Shenzhen Municipal Financial Regulatory Bureau signed a Memorandum of Understanding to enhance cooperation in gold-related activities and fintech. The MOU aims to build a regional gold ecosystem and support Hong Kong gold traders in collaborating with Shenzhen refining enterprises. Additionally, both parties plan to establish a global fintech centre and announce related policies soon.
Policy & regulation Cooperation Domestic cooperation
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2025-11-07•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong recapped the Hong Kong FinTech Week x StartmeupHK Festival 2025, noting record attendance and key regulatory messages from the HKMA, SFC, and IA. The HKMA introduced its “Fintech 2030” framework, the SFC issued circulars to enhance virtual asset trading and plans to extend licensing to virtual asset advisory and management, and the IA announced initiatives like an Open API Framework and a Whitepaper on Federated Learning.
Policy & regulation Guidance & interpretation Fintech and insurtech Artificial intelligence Blockchain and distributed ledger technology
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2025-11-07•United States•Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond reported on a FedNow Explorer article detailing how banks are intensifying efforts to compete with nonbank providers due to increasing customer demand for instant payments. This competition is driven by the need for faster and always-available money transfer solutions.
Other Payments and payment systems
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2025-11-07•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission has initiated a public consultation on the Chinese-language draft amendments to the Securities and Futures (Financial Resources) Rules. This draft aligns with the English version previously consulted on, which included guidelines for the Internal Models Approach for market risk charges and model risk management principles.
Policy & regulation Rules & requirements Regulatory reporting