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2025-09-18•Global•Bank for International Settlements - Innovation Hub
The BIS Innovation Hub released a report by seven central banks and the BIS on using tokenisation and distributed ledger technology to enhance large-value transaction settlements between commercial banks, while maintaining the two-tier monetary system and central bank reserve-anchored money. It discusses private versus central bank-led solutions, integrated versus synchronised settlement platforms, and third-party involvement, emphasizing central bank control for systemic robustness.
Policy & regulationInternational standards & recommendationsCBDC
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2025-09-18•China•China Banking and Insurance Regulatory Commission
At the 2025 China-ASEAN Financial Cooperation and Development Forum, the China Banking and Insurance Regulatory Commission outlined its strategy for expanding AI in financial services, emphasizing stability and security. The Commission highlighted AI's role in enhancing services, decision-making, and operations, citing examples in credit management and anti-money laundering. It stressed the importance of digital governance, AI-adapted risk management, and cross-border regulatory cooperation through platforms like the Asian Financial Cooperation Association.
Policy & regulationReform agendas & prioritiesFintech and insurtechArtificial intelligence
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2025-09-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Region 13 branch reviewed six state-owned commercial bank branches in Tay Ninh province, focusing on credit growth, cost reduction, and digital transformation. The banks were instructed to enhance credit growth safely while maintaining quality control and to address issues like credit growth constraints and impacts from new tax rules. Coordination with local authorities is planned for October 2025 to support these initiatives.
SupervisionReviews, inspections & stress testsLendingSupervision process and methodologies
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2025-09-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam issued Decisions 2866/QD-NHNN and 2970/QD-NHNN to implement a controlled testing mechanism for peer-to-peer (P2P) lending under Government Decree 94/2025/ND-CP. Decision 2866/QD-NHNN sets borrower exposure limits, while Decision 2970/QD-NHNN outlines requirements for data connection and reporting with Vietnam’s National Credit Information Centre. These decisions provide the legal framework for organizations to prepare for participation in the P2P lending sandbox.
SupervisionInnovation & testingCrowdfunding
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2025-09-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam issued new guidance under the Anti-Money Laundering Law, updating its 2023 framework to address implementation issues and support Vietnam's Financial Action Task Force commitments. The circular outlines requirements for money laundering risk assessment, internal rules, transaction reporting, and electronic data submissions, with specific thresholds for customs documentation. It mandates updates to internal processes and IT systems by 1 January 2026 to enhance compliance and monitoring capabilities.
Policy & regulationGuidance & interpretationAML and CFT
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2025-09-18•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission President Roberto E. Silva delivered a virtual lecture on tokenisation, highlighting the CNV's new regulatory framework for Virtual Asset Service Providers and its Tokenisation Regime. Silva emphasized these initiatives as part of efforts to modernize Argentina's capital markets and positioned them as pioneering in the region and globally.
Policy & regulationReform agendas & prioritiesTokenization
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2025-09-18•Vietnam•State Bank of Vietnam
The State Bank of Vietnam summarized Governor Nguyen Thi Hong's meeting with IMF Deputy Managing Director Kenji Okamura, discussing Vietnam's macroeconomic outlook, institutional reforms, and global challenges. The Governor emphasized a proactive, flexible monetary policy focused on inflation control and stability, supported by IMF assistance. The meeting highlighted Vietnam's priorities in export diversification, domestic demand development, selective foreign investment, public sector reform, and digital transformation initiatives.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-09-18•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance, led by Superintendent Guillermo Plate, emphasized technology and innovation to enhance supervision efficiency and market proximity at LaConfe 2025. The agenda includes simplifying rules and reducing procedural burdens while safeguarding insurers' solvency and policyholder commitments. Plate also highlighted regional efforts on innovation and transformation in international regulatory forums.
Policy & regulationReform agendas & prioritiesSupervision process and methodologiesRegtech and suptech
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2025-09-18•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury reported Under Secretary John K. Hurley’s meeting with the Mexican Banking Association, focusing on joint efforts to combat drug cartels and disrupt fentanyl flow into the U.S. Hurley highlighted Mexico’s financial sector's role in countering illicit finance and emphasized government and industry cooperation to enhance compliance. Recent enforcement actions were cited as part of the U.S. strategy to cut off cartel funding.
Policy & regulationCooperationAML and CFTCompliance
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2025-09-18•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury issued an Advance Notice of Proposed Rulemaking (ANPRM) to gather public input on implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The ANPRM aims to foster innovation while safeguarding consumers and addressing risks related to illicit finance and financial stability. Treasury clarified that the ANPRM does not impose new requirements but will inform future rules.
Policy & regulationRules & requirementsStablecoins
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2025-09-18•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission has appointed Chang Chia-kuei as Deputy Director General of its Banking Bureau, following the retirement of Hou Li-yang. Chang was previously the Chief Secretary.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-18•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama participated in Panama’s 17th Annual Accounting Convention, with Deputy Director Yoriel Moreno Romero discussing strategic and compliance challenges in corporate governance. The forum included representatives from accounting and corporate governance sectors, focusing on accountants' roles in transparency, accountability, and regulatory compliance, alongside the importance of professional training and ethics.
Policy & regulationCooperationAccounting and financial reporting
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2025-09-18•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury amended the Russia sanctions regime, updating AUTEL ROBOTICS CO., LTD.'s entry following UK Sanctions List changes. The company remains under an asset freeze and trust services sanctions for providing goods or technology potentially destabilizing Ukraine. The Treasury stresses the obligation to freeze assets, avoid unauthorized dealings, and report to the Financial Intelligence Unit.
Policy & regulationRules & requirementsSanctions list update
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2025-09-17•Israel•Bank of Israel
The Bank of Israel has introduced a new monthly Index of Economic Activity, replacing the Composite State of the Economy Index, to track short-term economic changes. The first release shows a 0.1% increase in August, with the Bank noting volatility due to military operations and cautioning that revisions may occur as recovery indicators are incomplete.
Data & statisticsEconomic data and developments
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2025-09-17•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved prospectuses for two secured, non-convertible bond issues by Rodna Zemlya Holding AD (EUR 15 million) and Zenith Investment Holding AD (EUR 7 million), authorized appointments at an investment intermediary and insurers, permitted Commercial League – Global Pharmacy Center AD to acquire 100% of Pension Insurance Company DallBogg: Life and Health EAD, and terminated a cross-border insurance proceeding at the applicant’s request.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-09-17•Ghana•Ghana National Insurance Commission
The Ghana National Insurance Commission has invited submissions for its insurance regulatory sandbox to foster innovative and inclusive insurance solutions in Ghana. The initiative targets young entrepreneurs, insurtech and fintech firms, insurers, technology developers, and other organizations.
SupervisionInnovation & testingFintech and insurtechRegulatory sandbox
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2025-09-17•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo has launched an online platform to enhance consumer transparency by allowing users to compare standardized financial products and services from 50 financial institutions. Available in Albanian, Serbian, and English, it covers 17 product categories and includes over 10,000 data points. Financial institutions must report and update their data on the platform, which will be in a testing phase until the end of 2025.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-17•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo outlined reforms to enhance the insurance sector's sustainability, transparency, and competitiveness, including risk-based supervision and IFRS 17 adoption. Sector indicators show 10% asset growth, 14.7% premium growth, and 7.8% in paid claims, with a 91.6% combined ratio. The central bank is preparing for Solvency II, prioritizing digitization, voluntary insurance expansion, and joining the Green Card system for cross-border motor insurance.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-09-17•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic and the Ministry of Finance and Economy are preparing for GAFILAT's fifth mutual evaluations by showcasing progress in anti-money laundering and counter-terrorist financing. The review will assess the jurisdiction's application of the 40 Financial Action Task Force recommendations, focusing on virtual asset service providers and designated non-financial businesses. About 18 experts will evaluate compliance with Law No. 155-17, with the financial sector expected to conduct internal assessments to align with these standards.
Policy & regulationPeer reviews and country evaluationsAML and CFTSupervision process and methodologies
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2025-09-17•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) affirmed its commitment to enhancing the MPF System following the Chief Executive’s 2025 Policy Address. Initiatives include broadening the MPF investment universe, advancing operational reforms, and implementing full portability of MPF benefits to boost competition and reduce fees. The MPFA also marked the MPF System’s 25th anniversary, emphasizing its focus on balancing returns and risks for members.
Policy & regulationReform agendas & prioritiesMarket developmentArtificial intelligence
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2025-09-17•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) aims to enhance the insurance sector by focusing on market development and prudential frameworks. Key initiatives include boosting competitiveness in captive and reinsurance business, establishing a marine risk pool, and reviewing the Risk-based Capital Regime to attract offshore reinsurance and support infrastructure financing. The IA is also exploring ways to facilitate medical treatment access in the Mainland and support self-drive tours in the Greater Bay Area.
Policy & regulationReform agendas & prioritiesPrudential risksMarket development
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2025-09-17•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia highlighted Deputy Delegate Felipe Noval's panel at the XXIII Latin American Leasing and Renting Conference, stressing robust credit and counterparty risk management for expanding formal credit. As of June 2025, the Colombian financial system managed over COP 1,000 trillion in assets, with total lending at COP 733 trillion and a real annual growth of 0.84%. Noval emphasized guarantees and financial education in enhancing credit penetration while maintaining financial stability and consumer protection.
OtherCredit riskMarket development
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2025-09-17•Montenegro•Montenegro Capital Market Authority
Montenegro Capital Market Authority's president, Željko Drinčić, inaugurated a two-day workshop in Podgorica on sustainability reporting adoption, organized by the International Organization of Securities Commissions and the World Bank. The event aims to assist jurisdictions in developing national roadmaps for the International Sustainability Standards Board standards, with participation from regulators in North Macedonia, Albania, Georgia, Kazakhstan, and Serbia. Drinčić emphasized the importance of shared responsibility and cross-jurisdictional learning.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-09-17•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has banned NSW solicitor and accountant Christopher Malcolm Edwards from providing financial services and controlling a financial services business for 10 years, effective 15 September 2025. ASIC found Edwards operated without an Australian Financial Services licence, arranged self-managed superannuation funds, and advised clients to invest in entities he controlled, creating conflicts of interest. Edwards may seek a review of the decision, and ASIC's investigation continues.
EnforcementSanctions & designationsUnlicensed or unauthorized activity
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2025-09-17•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has appointed Victoria Weekes as Chair and Anthony Brittain as Deputy Chair of the Markets Disciplinary Panel (MDP), with three new members joining and five retiring. The MDP, which issues infringement notices for market integrity rule breaches, can impose penalties up to AUD 4.95 million.
Institutional developmentLeadership change & appointmentsOther
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2025-09-17•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) responded to the European Commission’s consultation on the Savings and Investment Union, advocating for a more integrated EU capital markets supervision model with an enhanced role for the European Securities and Markets Authority (ESMA). The AMF suggests ESMA ensure greater supervisory convergence and directly supervise large cross-border entities, while smaller entities remain under national supervision through an ESMA-organised delegation model. Proposed changes to ESMA’s governance include a council of supervisory authorities and a smaller executive committee for operational decisions.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-09-17•Council of Financial Regulators•Council of Financial Regulators (CoFR)
New Zealand's Council of Financial Regulators (CoFR) released its September 2025 quarterly statement, highlighting ongoing discussions on its future operating model following an independent assessment by Sapere. Final decisions are anticipated by the Q4 Heads meeting in early December, alongside the publication of the Sapere report.
Institutional developmentMandate & organizational structureOther
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2025-09-17•Australia•Australian Prudential Regulation Authority
APRA issued its response to a consultation on minor proposals concerning instruments under section 66 of the Banking Act 1959, releasing a finalized instrument. The proposals addressed section 66 exemption and determination instruments set to sunset in 2025 or needing updates to align with current practices. APRA also published its consultation response letter and non-confidential submissions.
Policy & regulationRules & requirementsPrudential risks
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2025-09-17•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) has issued its response to a consultation on minor proposals for instruments under section 66 of the Banking Act 1959 and released the finalised instrument, addressing exemptions and determinations due to sunset in 2025 or needing updates.
Policy & regulationRules & requirementsPrudential risks
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2025-09-17•Italy•Bank of Italy
The Bank of Italy published three Occasional Papers (Nos. 963 to 965) exploring the macroeconomic effects of US trade policies, the transmission of euro area monetary policy easing through banks, and the impact of corporate redomiciliations on macroeconomic statistics. Paper No. 965 focuses on US trade policies, No. 964 on euro area monetary policy transmission, and No. 963 on corporate mobility and macroeconomic measurement.
ResearchOther
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2025-09-17•Georgia•National Bank of Georgia
The National Bank of Georgia clarified its cooperation with authorities in an alleged money laundering case, providing information and conducting supervisory measures under the Organic Law. It supervises currency exchange offices for anti-money laundering and counter-terrorist financing compliance, applying penalties and referring potential criminal conduct cases. Georgia's financial-sector compliance is positively assessed by international bodies, including MONEYVAL.
SupervisionCooperationAML and CFT
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2025-09-17•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica (BCCR) issued a public alert regarding a scam where fraudsters impersonate the bank to offer fake loans. The scammers use instant messaging and social media to distribute fabricated documents, falsely claiming BCCR's involvement in credit services. The BCCR clarified it does not provide credit and advised against sharing personal data.
SupervisionAlertsFraud and scams
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2025-09-17•United States•National Credit Union Administration
The National Credit Union Administration's Q2 2025 report shows increased assets and shares, but a slight decline in loans. The national median loan-to-share ratio was 70 percent, with aggregate membership growth despite a 0.5 percent drop in median membership, mainly affecting smaller credit unions. Profitability improved, with 87 percent of federally insured credit unions reporting positive net income, up from 84 percent in Q2 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-09-17•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority has withdrawn the provisional approval of SARL Farik Alkayser Lil Istithmar HM as a Participatory Investment Adviser. The withdrawal takes effect on Sept. 17, 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-09-17•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority withdrew BNP Paribas El Djazaïr’s approval as a securities custody account keeper at the bank’s request. The bank was removed from the list of approved firms effective Sept. 17, 2025, and transfers will be handled by Algeria Clearing.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-09-17•China•Central Bank of the Republic of China
People's Bank of China Vice Governor Zou Lan attended the 2025 Budapest Renminbi Initiative forum, discussing bilateral currency cooperation and local-currency use in trade with Hungarian National Bank officials. Co-hosted by the Hungarian National Bank and Bank of China’s Hungary branch, the forum explored the Renminbi Program framework and financial cooperation opportunities. Remarks were also made by Hungarian National Bank Governor Varga and other key officials.
Policy & regulationCooperationCross-border cooperation
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2025-09-17•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners (NAIC) testified before the U.S. House Financial Services Subcommittee on Housing and Insurance, advocating for a 7–10 year reauthorization of the Terrorism Risk Insurance Act (TRIA) to sustain the federal backstop for commercial terrorism insurance. Connecticut Insurance Commissioner Andrew N. Mais emphasized that early reauthorization aids planning for insurers, reinsurers, and businesses, as TRIA facilitates a private market for terrorism coverage. Without TRIA, private insurers would not offer significant capacity for affordable terrorism insurance.
Policy & regulationReform agendas & prioritiesOther
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2025-09-17•Norway•Department of Finance (Norway)
Norway's Department of Finance has tasked the Financial Supervisory Authority of Norway with evaluating the implementation of anticipated European Economic Area rules related to amendments to the Solvency II Directive and the Insurance Recovery and Resolution Directive (IRRD), including a new crisis management framework for insurance undertakings. The mandate also involves reviewing potential changes to Chapter 15 of the Financial Institutions Act and related regulations.
Policy & regulationReform agendas & prioritiesPrudential risksRecovery and resolution
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2025-09-17•Norway•Department of Finance (Norway)
Norway's Ministry of Finance is consulting on proposed rule changes by the Financial Supervisory Authority of Norway to amend financial institutions’ confidentiality duties and information sharing to combat economic crime. The proposals aim to simplify the framework, allowing information sharing with other institutions, police, and electronic communication providers, and include using digital platforms inspired by Finanstilsynet’s sandbox.
Policy & regulationRules & requirementsAML and CFTCompliance
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2025-09-17•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority's 2025 Global Financial Crisis stress test results show Bermuda’s long-term commercial insurers have adequate capital buffers, enduring severe stresses without management actions. The report emphasizes ongoing recovery planning and capital management, with data refining risk-based supervision. A treaty-level recapture analysis provides insights into cross-border transmission channels for future international supervisory cooperation.
SupervisionReviews, inspections & stress testsStress testingPrudential risksFinancial stability and systemic risk
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2025-09-17•Lithuania•Bank of Lithuania
The Bank of Lithuania released an overview of the IMF's Article IV consultation, projecting Lithuania's GDP growth at 2.9% in 2025 and 3.4% in 2026, despite challenges like weaker productivity and fiscal pressures from rising defence spending. Inflation is expected to decrease, while unemployment is projected to fall to 6.1% by 2026. The IMF suggests tax reforms and productivity enhancements, with Lithuania's Ministry of Finance agreeing to improve tax administration.
Policy & regulationInternational standards & recommendationsEconomic data and developments
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2025-09-17•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) has issued a consultation paper on applying existing FCA Handbook rules to firms conducting regulated cryptoasset activities, anticipating new legislation. The proposals aim to align cryptoasset firms with FSMA-authorised firms, covering governance, accountability, financial crime, and operational resilience. The FCA also seeks feedback on future Consumer Duty applications, complaint handling, and conduct of business for cryptoasset activities.
Policy & regulationRules & requirementsFintech and insurtechRegulatory burden
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2025-09-17•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DEP-487, detailing regulations on the provision and exchange of banknotes and coins by credit institutions.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-09-17•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DTE-468, detailing regulations on the provision and exchange of banknotes and coins by credit institutions.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-09-17•T?rkiye•Capital Markets Board of Türkiye
The Capital Markets Board of Türkiye has launched “Cyber World and Financial Footprints for Youth,” to educate young people on financial literacy and cyber-focused content. It includes modules on fraud prevention, digital scams, and secure management of financial traces, with sessions delivered by Board executives to girls supported by the Koruncuk Foundation. The initiative builds on previous projects and cooperation protocols, with 22 May designated as “Financial Literacy Day” by presidential circular.
Financial literacy & educationFinancial literacy and education
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2025-09-17•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority has released proposals to facilitate fund tokenisation in UK asset management, clarifying existing rules and potential changes for broader adoption. The proposals include guidance on tokenised fund registers, a streamlined dealing model for fund managers, and a roadmap addressing barriers like public blockchain use and on-chain settlement. This initiative supports the FCA's digital assets roadmap in a market managing GBP 14 trillion for UK and global clients.
Policy & regulationGuidance & interpretationTokenizationMarket development
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2025-09-17•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) marked the first anniversary of its access to cash rules, highlighting a new banking hub in Monmouth, Wales, and expanded shared cash services across the UK. The rules require banks and building societies to assess cash access impacts before changing services and address significant gaps. FCA data shows over 95% of the UK population can access cash within government-set distances, with ongoing stakeholder discussions to enhance cash and banking service access.
SupervisionRegulatory reportingPayments and payment systems
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2025-09-17•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission endorsed measures from the Chief Executive’s Policy Address 2025 to enhance markets, focusing on the listing regime, Stock Connect, digital asset offerings, and fixed income and currency markets. Initiatives include integrating renminbi counters and real estate investment trusts into Stock Connect, expanding digital asset products for professional investors, and developing fixed income markets. Collaboration with the Hong Kong Monetary Authority is ongoing to establish a comprehensive fixed income and currency roadmap.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-09-17•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) has mandated that all licensed insurance companies in Ontario file the Annual Auto Insurance Attestation, signed by the CEO or senior officer, confirming compliance with Ontario laws. This requirement, under section 442.3 of the Insurance Act, aims to uphold high business conduct standards. Insurers must also report Minor Rating and Underwriting Rule Errors for 2025 using FSRA's forms.
Policy & regulationRules & requirementsRegulatory reporting
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2025-09-17•Zimbabwe•Zimbabwe Insurance and Pensions Commission
Zimbabwe's Insurance and Pensions Commission (IPEC) held a consultation in Harare for its 2026–2030 Strategic Plan, reviewing achievements and challenges from the current strategy. The meeting included diverse stakeholders and emphasized collaborative regulation to protect policyholders and pension fund members. Feedback will guide a plan balancing market stability, consumer protection, and industry growth, aligned with the National Development Strategy II.
Policy & regulationReform agendas & prioritiesOther
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2025-09-17•Global•G30
The Group of Thirty's study, chaired by Lord Adair Turner, reviews carbon pricing schemes and trading systems. It recommends expanding domestic carbon pricing or emissions trading, especially in hard-to-abate sectors, and suggests using Carbon Border Adjustment Mechanisms where coordination is lacking. The report advocates allocating revenue from carbon taxes to support low-income countries and scaling carbon dioxide removal through credible carbon credit markets.
Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
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2025-09-17•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert after phishing emails were reported by Industrial and Commercial Bank of China (Asia) Limited. The HKMA reminded the public that banks will not send emails or SMS with embedded hyperlinks for transactions or request sensitive information. It advised affected individuals to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-09-17•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced enhancements to the SME Financing Guarantee Scheme, extending the 80% Guarantee Product applications by two years to March 2028 and increasing the total loan guarantee commitment by HKD 20 billion to HKD 310 billion. The principal moratorium arrangement is extended by one year, allowing eligible enterprises up to 24 months of relief. HKMC Insurance Limited will coordinate with lenders to implement these changes.
Policy & regulationRules & requirementsSME financing
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2025-09-17•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and the Monetary Authority of Singapore have exchanged a Memorandum of Understanding to enhance banking supervisory cooperation. This MoU aims to facilitate information exchange and mutual assistance, supporting the supervision of cross-border banking operations due to the significant presence of banks from both jurisdictions.
SupervisionCooperationCross-border cooperation
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2025-09-17•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT conducted a training in Cuba to prepare authorities and private-sector entities for an anti-money laundering and counter-terrorist financing evaluation. Cuba will be the first assessed under GAFILAT's fifth evaluation round. The programme, held with Spain's cooperation, focused on technical and institutional aspects of the AML/CFT system and implementation effectiveness.
Policy & regulationCooperationAML and CFTCapacity building
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2025-09-17•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 Muratovna Ergaziyeva as an independent director of JSC Subsidiary of Halyk Bank of Kazakhstan “Halyk Finance” in the securities market.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-17•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency proposed draft legislation for basic and universal banking licences for second-tier banks, differing in operational scope and regulatory requirements. Basic-licence banks would face asset and capital limits, restrictions on lending to non-residents and affiliates, and reduced prudential norms and supervision. The draft law aims to adapt to technological changes, enhance competition, and address financial technologies and digital asset circulation.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-17•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan has submitted draft laws to the Mazhilis to update the banking framework and facilitate Islamic finance through "Islamic windows" in universal banks. This model allows banks to offer Islamic products via dedicated units with separate accounting and Sharia compliance oversight. The draft laws also address technological change, competition, financial technologies, and digital asset circulation.
Policy & regulationRules & requirementsOther
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2025-09-17•United Kingdom•UK Parliament
The UK Parliament’s House of Lords Finance Bill Sub-Committee has initiated an inquiry into the Draft Finance Bill 2025–26, emphasizing tax administration, clarification, and simplification. The inquiry will explore proposals to include unused pension funds and death benefits in Inheritance Tax and reforms to agricultural and business property relief.
Policy & regulationReform agendas & prioritiesOther
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2025-09-17•Qatar•Qatar Central Bank
Qatar Central Bank Governor H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani met with Mr. Seiji Imai, Chairman of Mizuho Financial Group, to discuss recent developments in global finance and investment.
OtherCross-border cooperation
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2025-09-17•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan reported on the 20th International Shari’ah Scholars Forum, highlighting a Memorandum of Understanding with INCEIF to enhance cooperation in Islamic finance. The agreement includes collaboration on training, research, and translating Islamic finance books into Uzbek. The forum's discussions focused on contract classification and structuring, emphasizing transparency and client trust.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable finance
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2025-09-17•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan announced a cooperation memorandum with INCEIF at the 20th International Shari’ah Scholars Forum to enhance Islamic finance capabilities. The agreement includes collaboration on training, joint research, and translating Islamic finance literature into Uzbek. The forum also addressed contract classification and application in modern practice to build client trust.
Institutional developmentCooperation & capacity buildingClimate risk and sustainable finance
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2025-09-17•Middle East•Arab Monetary Fund
The Arab Monetary Fund held the 49th Annual Meeting of the Council of Arab Central Bank Governors and Monetary Authorities in Tunis, focusing on economic challenges such as trade wars, monetary policy, and cybersecurity. The agenda included the Arab Instant Payments Initiative, financial stability reports, and preparations for a Joint Arab Statement for the upcoming International Monetary Fund and World Bank Annual Meetings.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-09-17•Middle East•Arab Monetary Fund
The Arab Monetary Fund held the 49th Annual Meeting of the Council of Arab Central Bank Governors and Monetary Authorities in Tunis, focusing on trade wars, monetary policy, cybersecurity, and the Arab Instant Payments Initiative, with ongoing preparations for a Joint Arab Statement for the IMF and World Bank Annual Meetings.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-09-17•Jordan•Jordan Securities Commission
The Jordan Securities Commission announced the appointment of its Board of Commissioners for a four-year term starting 2 September 2025, with Emad Mohamed Mahmoud Abu Haltam as Chairman, following a Royal Decree. Three full-time members, Alaa Al-Din Nasser Abdulkarim Al-Zoubi, Elias Ayoub Sharari Zureikat, and Mohamed Abdel Sattar Mohamed Jaradat, were also appointed.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the VI SIFRA 2025 seminar in Rio de Janeiro, discussing insurance's role in municipal climate resilience. Key topics included parametric insurance for climate events and natural disasters, surety insurance for labour claims and art, and performance bonds with a step-in clause under Brazil's new procurement law to prevent project stoppages.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-09-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) issued Public Consultation Notice No. 5/2025 on a draft resolution to establish a unified framework for insurance brokers and related entities. The proposal consolidates requirements from thirteen existing resolutions, aligning with recent legislative changes to simplify processes and enhance competition. It updates rules for self-regulatory entities and revises the qualification regime for insurance brokers.
Policy & regulationRules & requirementsLicensing framework and process
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2025-09-17•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) participated in the 3rd International (Re)Insurance Seminar in São Paulo, where Superintendent Alessandro Octaviani discussed Brazil’s new insurance contract legal framework under Law No. 15.040/2024. Octaviani emphasized the law's focus on consumer protection, transparency, and reducing information asymmetries. The seminar also addressed claims regulation, new technologies, surety insurance, and geopolitical impacts on aviation and marine insurance.
Policy & regulationGuidance & interpretation
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2025-09-17•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan discussed with LLC “OZPLANET” and the International Finance Corporation (IFC) using a digital platform for factoring operations to support SMEs and enhance financial service digitisation. This initiative aligns with the IFC’s “Movable Asset-Based Financing” programme, aiming to improve SMEs' access to financial services and alternative credit products. OZPLANET showcased its digital factoring platform, highlighting its experience in Uzbekistan and the Russian Federation.
Policy & regulationImplementation, projects & pilotsOther
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2025-09-17•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the World Bank reviewed cooperation on the "Strengthening the Financial Sector in Tajikistan" project and grant-supported initiatives, including the SEED startup ecosystem and digital economy transition. Discussions covered green finance, digital services, climate risks, consumer protection, and financial inclusion. Tatiana Didier was introduced as the new World Bank financial sector lead for Europe and Central Asia, with the World Bank expressing readiness to continue collaboration.
Policy & regulationCooperationMarket development
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2025-09-17•Spain•Bank of Spain
The Bank of Spain and the University of Castilla-La Mancha launched a pilot project to enhance financial education, with the central bank training university staff to disseminate content. Governor José Luis Escrivá suggested the initiative could expand to other universities. Escrivá also presented the Quarterly Report on the Spanish Economy, noting strong performance despite slowing activity and high international uncertainty.
Financial literacy & educationFinancial literacy and education
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2025-09-17•Spain•Bank of Spain
The Bank of Spain reported that General Government debt under the Excessive Deficit Procedure was 102.3% of GDP in July 2025, a decrease of 1.9 percentage points from the previous year. In nominal terms, debt rose 3.9% year on year to EUR 1.680 trillion. State debt increased by 4.1% to EUR 1.525 trillion, while Social Security debt rose 8.6% to EUR 126 billion due to State loans for budget imbalances.
Data & statisticsBalance of payments and other external statistics
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2025-09-17•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand announced the appointment of Hayley Gourley as a new external member of its Monetary Policy Committee, effective 1 October, succeeding Professor Bob Buckle. Gourley, an agribusiness executive, will participate in the October Monetary Policy Review.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-09-17•Europe•European Central Bank
ECB Vice-President Luis de Guindos stressed central bank independence amid political pressures and defended current interest rates. He emphasized credible fiscal rules to prevent inflation and rate hikes, and noted the ECB's readiness for a digital euro once regulated. De Guindos also urged international cooperation on stablecoin regulation, citing limited presence in Europe but potential global financial stability risks.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-09-17•Europe•European Central Bank
The European Central Bank's Working Paper Series No 3114 examines monetary policy shocks on euro area banks and non-bank financial institutions, highlighting amplified contractionary effects during financial stress. Monetary tightening leads to broad-based asset and debt securities contractions, with banks and investment funds most affected, while loan responses vary, including increased lending by some non-bank segments. The analysis uses euro area balance sheet data from 2009 to 2022 and confirms findings with robustness checks.
ResearchOther
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2025-09-17•Europe•European Central Bank
In a keynote speech, ECB Executive Board member Piero Cipollone emphasized the ECB's role in enhancing financial sector resilience amid geopolitical, technological, and climate risks. He highlighted disruptions like the Iberian Peninsula blackout and Silicon Valley Bank run, stressing Europe's payments resilience. Cipollone discussed rising cyber incidents, ECB's cyber resilience stress tests, and the importance of instant payments infrastructure, mandating payment service providers to offer instant payments by 9 October 2025.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic risk
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2025-09-17•Europe•European Central Bank
The European Central Bank's Working Paper analyzes secured money market transactions for the 47 largest euro area banks, highlighting the Liquidity Coverage Ratio's (LCR) impact and the shift from unsecured to secured funding on repo activity and interbank connections. Using data from July 2016 to December 2022, the study notes a significant rise in evergreen repurchase agreements post-LCR introduction and stable, dense network patterns in secured exposures. Collateral re-use aligns with previous European findings.
ResearchMarket infrastructureMarket risk and volatilityLiquidity risk
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2025-09-17•Europe•European Central Bank
ECB President Christine Lagarde spoke at the 10th ECB Annual Research Conference on financial stability amid rapid change. She noted the growth of non-bank financial institutions and tech pressures on banks, referencing recent US bank collapses. Lagarde stressed the importance of regulation to manage risks while supporting innovation, aligning with Europe's simplification agenda.
ResearchFinancial stability and systemic riskMarket development
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2025-09-17•Europe•European Central Bank
The European Central Bank updated its wage tracker, incorporating collective wage agreements through August 2025 and extending projections to June 2026. The tracker indicates easing negotiated wage growth, with 2024 and 2025 growth at 4.6% and 3.2% respectively, and a projected 1.7% for the first half of 2026. Employee coverage is limited, and forward-looking signals are conditional on active agreements and may be revised.
Data & statisticsEconomic data and developments
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2025-09-17•Europe•European Central Bank
The European Central Bank (ECB) plans to modernize central bank money, focusing on a digital euro, new technologies for wholesale transactions, and cross-border interlinking. The ECB aims for euro-area-wide acceptance of a digital euro, using open standards and European governance for strategic autonomy and resilience. It is also exploring distributed ledger technology and tokenization for wholesale markets and enhancing cross-border payments through multilateral networks and instant settlement services.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-09-17•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten has initiated research into macroeconomic and institutional factors influencing foreign direct investment (FDI) in Curaçao, including a survey of firms with prior FDI. The study aims to identify investment triggers and perceptions of the business climate, with findings to inform future research in Sint Maarten.
ResearchMarket development
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2025-09-17•United States•New York State Department of Financial Services
The New York State Department of Financial Services has issued guidance for banking organizations on using blockchain analytics tools in virtual currency activities. This guidance clarifies compliance expectations and promotes technology-driven controls to enhance compliance programs and prevent illegal activities. It includes use cases such as customer wallet screening, funds verification, and monitoring for illicit activity exposure.
Policy & regulationGuidance & interpretationBlockchain and distributed ledger technology
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2025-09-17•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Hong Kong Monetary Authority have exchanged a Memorandum of Understanding to enhance banking supervisory cooperation. This agreement aims to facilitate information exchange and mutual assistance for overseeing banks with cross-border operations. The arrangement builds on existing collaboration and supports the sharing of best practices.
SupervisionCooperationCross-border cooperation
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2025-09-17•Singapore•Monetary Authority of Singapore
The Singapore Police Force, Monetary Authority of Singapore, Infocomm Media Development Authority, and Government Technology Agency announced a framework to limit scam mules' access to financial, telecommunications, and Singpass/Corppass services. Restrictions cover digital banking, card transactions, ATM services, and new mobile line subscriptions, calibrated to the risk posed by individuals involved in scams. Implementation begins in October 2025, with banking and mobile service restrictions, followed by Corppass and Singpass restrictions.
Policy & regulationRules & requirementsFraud and scams
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2025-09-17•Serbia•National Bank of Serbia
The National Bank of Serbia reported a record daily transaction volume for its IPS NBS instant payment system on 15 September 2025, processing 497,287 payments totaling RSD 6.69 billion. The system, operational since October 2018, facilitates 24/7 instant payments for citizens and businesses.
Data & statisticsPayments and payment systems
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2025-09-17•Serbia•National Bank of Serbia
The National Bank of Serbia's Inflation Expectations Survey indicates that financial sector inflation expectations remain within the target range of 3% ± 1.5 percentage points. Short-term expectations rose to 4.0% in August, while medium-term expectations for the financial sector increased slightly to 3.3%. The economy's one-year-ahead expectations returned to 5.0% in August, with medium-term expectations stable at 5.0%.
Data & statisticsEconomic data and developments
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2025-09-17•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission has unveiled measures to enhance risk management for major industrial accidents, aligning with the government's safety plan. The initiative includes adjustments in credit evaluations, insurance premiums, policy finance incentives, and capital markets disclosures. Key elements involve tightened screening for project finance guarantees, insurance surcharges, and mandatory disclosures under the Serious Accidents Punishment Act.
Policy & regulationRules & requirementsOperational risk and resilience
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2025-09-17•Oman•Oman Financial Services Authority
The Oman Financial Services Authority hosted a seminar on accounting and auditing regulation following Royal Decree 20/2024 and introduced an integrated electronic system for licensing and renewal. The system facilitates online applications and document management, enhancing transparency and digital transformation. The seminar also addressed regulatory requirements and the role of auditors in improving financial reporting quality.
Policy & regulationImplementation, projects & pilotsAccounting and financial reportingAuditing
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2025-09-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) is consulting on amendments to CVM Resolution 77 to enhance the framework for listed companies repurchasing their own shares, focusing on execution requirements and market impact mitigation. Proposed changes include conditions for daily repurchases, restrictions on reducing shares in circulation, and adjustments to treasury share limits. An alternative public tender offer route is proposed, exempt from new restrictions, alongside harmonisation efforts and a regulatory impact analysis.
Policy & regulationRules & requirementsCorporate governance
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2025-09-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) approved settlements totaling BRL 6.87 million to close two administrative proceedings. Former Gafisa officers agreed to pay BRL 6.4 million for alleged breaches of loyalty and care, while Vamos Locação's director will pay BRL 470,000 for failing to disclose a material fact. The CVM board deemed the settlements reasonable, with no legal impediments identified by the Federal Specialized Prosecutor’s Office.
EnforcementInvestigations & enforcement actionsOther
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2025-09-17•Seychelles•Seychelles Financial Services Authority
The Seychelles Financial Services Authority rejected BTSE Holding Limited's application to operate as a virtual asset service provider under the Virtual Asset Service Providers Act 2024, instructing it to cease operations or relocate. The application was submitted on 31 December 2024 and rejected on 24 July 2024. BTSE Holding Limited has since been acquired by BTSE GLOBAL LIMITED SOCIEDAD DE RESPONSABILIDAD LIMITADA, with user migration to the Costa Rica entity completed by July 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-09-17•Kyrgyzstan•National Bank of the Kyrgyz Republic
The National Bank of the Kyrgyz Republic has released a draft Board resolution for public discussion to amend its normative legal acts, aligning the central bank's regulatory framework with recent legislative changes. These amendments pertain to laws on road traffic, property rights, state language, the securities market, and the Budget Code of the Kyrgyz Republic.
Policy & regulationRules & requirementsOther
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2025-09-17•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji reported a record profit of $146.2 million for the financial year ended 31 July 2025, attributing the increase to high foreign reserves and elevated interest rates in trading partner economies. A $146.0 million transfer to the Government was announced, with future profits and transfers contingent on foreign reserve levels and interest rate trends amid global trade and geopolitical risks.
Data & statisticsFinancial and market indicatorsActivity and performance reporting
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2025-09-17•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Elizabeth Warren and Jack Reed urged SEC Chair Paul S. Atkins not to amend the SEC's policy on forced arbitration, which would allow public companies to mandate arbitration for investor disputes. They argued this change would contradict Sections 14 and 29(a) of the Securities Acts, weaken securities litigation, limit investor relief, and enable misconduct. The Senators requested a reaffirmation of the SEC's stance against forced arbitration and a briefing on any policy changes.
Policy & regulationRules & requirementsComplaints and dispute resolution
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2025-09-17•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee's minority leadership, led by Senator Elizabeth Warren, urged Secretaries of State and Treasury to amend Trump-era policies risking West Bank economic collapse. They recommend urging Israel to release withheld revenues, opposing settlements undermining a two-state solution, and reinstating financial sanctions against destabilizing activities. A response is requested by October 1, 2025, on measures to prevent further instability.
Policy & regulationOther
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2025-09-17•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revised reporting requirements for debt securities issuers to enhance clarity and reduce redundancy, effective 16 September 2025. The amendments remove the obligation for crowdfunding debt issuers to report significant events directly to the SEC, as funding portals already fulfill this role. Issuers must report the initiation of a business rehabilitation process only upon court acceptance of a rehabilitation petition.
Policy & regulationRules & requirementsRegulatory burden
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2025-09-17•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC participated in a two-year investigation dismantling a Canada–US drug trafficking network linked to Mexican cartels. The operation seized 157 kilograms of cocaine, 15 firearms, nearly CAD 1 million in cash, and seven vehicles with hidden compartments. Charges were laid against five suspects for organized crime, conspiracy, money laundering, and drug offences.
EnforcementInvestigations & enforcement actionsOther
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2025-09-17•Russia•Central Bank of Russia
The Central Bank of Russia reported a slowdown in derivatives market growth in 2024 and early 2025 due to limited access to external markets. Foreign exchange derivatives stabilized, while interest rate derivatives saw slight volume increases amid tight monetary conditions. Commodity derivatives faced challenges from a lack of accurate domestic price indicators, though exchange-traded derivatives and Moscow Exchange futures positions grew.
ResearchTradingMarket risk and volatility
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2025-09-17•Russia•Central Bank of Russia
The Central Bank of Russia proposes mandatory annual supervisory stress testing for systemically important banks starting in 2028. Results would influence banks' economic assessments and internal capital adequacy, potentially requiring additional capital buffers. The approach also links stress testing outcomes to contributions to the Compulsory Deposit Insurance Fund.
Policy & regulationRules & requirementsStress testing
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2025-09-17•Malta•Central Bank of Malta
The Central Bank of Malta addressed concerns from local payment service providers regarding increased fraud risk associated with remote adjustments of spending limits for SEPA instant credit transfers.
SupervisionRisk monitoring & watch pointsFraud and scams