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2025-08-04•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines advocated for using the National ID in financial account openings at a National ID Forum. Discussions emphasized integrating physical and digital National IDs into customer verification processes and recommended broader use of the Philippine Statistics Authority’s National ID Authentication Services for real-time identity verification. The forum included various stakeholders to address implementation challenges and share progress.
Policy & regulationCooperationDigital identity
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2025-08-04•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority released "Climate-related Disclosures: Insights from our reviews 2025," providing feedback to enhance the quality of climate statements under New Zealand's climate-related disclosures regime. The report, based on compliance reviews, clarifies misconceptions about the regime's requirements and outlines future monitoring priorities.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-08-04•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles hosted meetings of the SADC Payment System Subcommittee and Oversight Committee, with participation from 15 SADC member states, the IMF, and the World Bank. Discussions focused on strengthening cross-border payment systems, enhancing financial integrity, and advancing financial inclusion. Key topics included the SADC Real-Time Gross Settlement System, onboarding and verification processes, and collaboration on financial services innovation.
Policy & regulationCooperationCross-border paymentsFinancial inclusion
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2025-08-04•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a public judgment session on 5 August 2025 to decide on two administrative sanctioning proceedings. One case involves Pricewaterhousecoopers Auditores Independentes Ltda. and alleged audit irregularities, while the other concerns Bluebenx Tecnologia Financeira S.A. and alleged securities fraud. The session will proceed with electronic voting if defendants do not participate.
EnforcementInvestigations & enforcement actionsAuditing
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2025-08-04•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Resolution CVM 234, updating the registration requirements for capital markets participants with technical and formal amendments. Key changes include editorial updates, the addition of a "Central Securities Depository" category, and consolidation of the "securities intermediaries" category. The CVM waived a Regulatory Impact Analysis and public consultation due to the limited impact of these changes.
Policy & regulationRules & requirementsRegulatory reporting
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2025-08-04•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission announced the conviction of Pixelvest Sdn Bhd and its director, Ang Jen Chuen, for operating a fund management business without a licence under the Capital Markets and Services Act 2007. Pixelvest was fined RM3 million, and Ang received a three-year prison sentence. Ang was also convicted on eight charges of receiving proceeds from unlawful activities under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, with concurrent three-year sentences.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-04•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission announced that the Court of Appeal dismissed Dato’ Ramesh Rajaratnam’s application to review a May 2024 decision in an insider trading case. The court found no exceptional circumstances to warrant a review, upholding the reinstatement of Ramesh's conviction and sentence. Ramesh, charged in 2015 under the Capital Markets and Services Act 2007, faces a rehearing on 20 August 2025.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-08-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs released an update on activities under Chairman Tim Scott. Key developments include the enactment of the One Big Beautiful Bill and the GENIUS Act for stablecoin regulation, overturning a Consumer Financial Protection Bureau rule on overdraft fees, passage of the FIRM Act, confirmations of key nominees, and oversight on financial regulatory issues.
Policy & regulationRules & requirementsOther
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2025-08-04•Russia•Central Bank of Russia
The Central Bank of Russia will host the Cybersecurity in Finance Forum in Yekaterinburg from 18–20 February 2026, featuring participants from federal authorities, financial institutions, and information security firms. The forum will address strategic development, cyberfraud prevention, and security challenges related to digital and payment technologies, with a special programme for university students.
Financial literacy & educationCyber resilience
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2025-08-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority, led by Mohamed Farid, emphasized investment opportunities for Egyptians abroad in the Egyptian Exchange and investment funds via technology applications. The FRA is advancing digital channels as part of its digitization program, including electronic insurance distribution and fintech frameworks under Law No. 5 of 2022. By July 2025, insured Egyptians abroad reached 1.3 million, with a 20% increase following a raise in personal accident insurance to EGP 250,000.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority updated licensing rules for SME and microenterprise finance firms to expedite authorization. Decision No. 147 of 2025 allows electronic interviews for key roles and adjusts fit-and-proper and governance requirements, including practical experience and education exemptions. Firms offering both SME and microenterprise finance can appoint one managing director, with conditions for executive management oversight.
Policy & regulationRules & requirementsLicensing framework and process
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2025-08-04•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) has launched an initiative to enable trading in spot crypto asset contracts on CFTC-registered futures exchanges, as part of its "crypto sprint." This effort aims to apply recommendations from the President’s Working Group on Digital Asset Markets report and seeks input on regulatory issues, including the Commodity Exchange Act and potential implications under securities laws.
Policy & regulationImplementation, projects & pilotsTradingMarket development
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2025-08-04•United States•U.S. Securities & Exchange Commission
SEC Commissioner Hester M. Peirce, at the Science of Blockchain Conference, urged reassessing U.S. financial surveillance and enhancing confidentiality via disintermediating technologies. She criticized the Bank Secrecy Act's reporting requirements, questioned its data collection usefulness, and raised privacy concerns about the SEC’s Consolidated Audit Trail. Peirce supported privacy tools like encryption and zero-knowledge proofs, advocating for a regulatory framework for on-chain software systems without central intermediaries.
Policy & regulationReform agendas & priorities
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2025-08-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's 2025 action plan for its Steering Committee on science and technology development, digital transformation, and Project 06 outlines tasks for its units and supervised institutions. Signed under Decision No. 2902/QD-BCD, the plan emphasizes digital transformation, administrative reform, and accountability, prioritizing restructuring digital infrastructure, cloud computing, and cybersecurity. It also focuses on enhancing human resources and fostering international cooperation in science and technology.
Policy & regulationReform agendas & prioritiesOther
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2025-08-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reviewed its sector databases and procedures, focusing on data integration for the National Data Centre and reducing paperwork. Progress was reported on synchronising four key databases, with full integration expected by September 2025. The Ministry of Public Security urged SBV to develop an industry data strategy and align its banking-sector enterprise architecture with the national digital framework.
Institutional developmentTechnology & data transformationOther
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2025-08-04•Malta•Malta Financial Services Authority
The Malta Financial Services Authority released a position paper on tokenising fund units of Collective Investment Schemes, emphasizing operational efficiencies through digital ledger technology. The paper outlines the role of fund administrators, transparency requirements, and challenges such as cyber security. It also addresses AML and KYC disclosures and highlights potential efficiencies in settlement and due diligence automation.
Policy & regulationGuidance & interpretationTokenization
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2025-08-04•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission reported that deputy head Cong Lin visited flood-affected areas in Beijing and Hebei to oversee insurance claims and financial services, urging banks and insurers to expedite relief support. The guidance emphasized rapid loss assessment, fast-track claims handling, and enhanced credit support for affected farmers and small businesses. Cong stressed the importance of monitoring disaster information and improving emergency support during the critical flood-control period.
SupervisionInterventionsOther
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2025-08-04•United States•Financial Crimes Enforcement Network
FinCEN issued a Notice urging financial institutions to monitor and report suspicious activities involving convertible virtual currency (CVC) kiosks exploited for scams and illicit activities. The Notice highlights fraud, cybercrime, and drug trafficking linked to CVC kiosks, emphasizing increased risks when operators fail to comply with the Bank Secrecy Act (BSA). It outlines red-flag indicators and reiterates BSA reporting requirements.
SupervisionAlertsFraud and scamsAML and CFT
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2025-08-04•Argentina•Argentina Superintendency of Insurance
The Argentina Superintendency of Insurance issued resolutions disqualifying four individuals from holding positions in insurance and reinsurance entities, barring them from administration, oversight, and senior management roles. Fernando Dapero is additionally prohibited from acting as a shareholder under the General Regulation of Insurance Activity.
EnforcementSanctions & designationsFitness and propriety
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2025-08-04•Argentina•Central Bank of Argentina
The Central Bank of Argentina has approved a regulatory framework for special accounts for Labour Termination Funds, implementing Article 96 of Law 27.742 and Annex II of Decree 847/24. This marks the first instance where the Central Bank of Argentina sought public input on a rule before finalization, incorporating feedback from financial-sector stakeholders and the public.
Policy & regulationRules & requirementsRegulatory burden
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2025-08-04•Moldova•National Bank of Moldova
The National Bank of Moldova, in collaboration with Expert-Grup, launched the sixth Financial Education Camp, targeting youth to enhance financial knowledge and decision-making. The online program, running from 4–7 August 2025, includes sessions on the financial system, Moldova’s integration into the Single Euro Payments Area, cashless payments, and practical financial guidance.
Financial literacy & educationFinancial literacy and education
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2025-08-04•Denmark•National Bank of Denmark
The National Bank of Denmark's July 2025 balance sheet shows a DKK 14.1 billion increase in the foreign-exchange reserve to DKK 680.5 billion, with no market intervention. This rise is due to a DKK 4.1 billion net purchase of foreign exchange and DKK 10.0 billion in net foreign borrowing by the central government. Policy rates remain unchanged since June 2025, with the discount rate, current-account interest rate, and certificate of deposit rate at 1.6% per annum, and the lending rate at 1.75% per annum.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2025-08-04•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India has fined Policybazaar Insurance Brokers Pvt. Ltd. INR 5 crore for breaches of the Insurance Act, 1938. The enforcement action, under Section 102 of the Act, includes directives and advisories addressing the violations.
EnforcementInvestigations & enforcement actionsOther
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2025-08-04•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission issued a public notice warning investors that Trillions Systems Limited may be offering crypto asset investments without necessary registration or exemption. The company is not registered with the Commission, and investigations are in the preliminary stage.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-04•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank reports that Dutch residential mortgage lending has rebounded strongly, with a 5.2% year-on-year growth in June 2025, reaching EUR 611 billion. This growth surpasses the euro area average and marks the highest rate since 2008. The increase is attributed to lower interest rates, rising house prices, and stronger wage growth, with a notable shift towards 5- to 10-year fixed-interest periods in new lending.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-04•United Arab Emirates•Central Bank of the UAE
The UAE Central Bank's 2024 Financial Stability Report indicates contained financial stability risks, with the banking sector benefiting from strong capital and liquidity buffers. It highlights the operationalisation of the UAE Financial Stability Council, new macroprudential tools, enhanced cybersecurity, and progress in sustainable finance and digital transformation. The report notes resilient non-bank sector performance, with insurance premiums growing by 21.4% to AED 64.8 billion, and projects real GDP growth of 4.4% in 2025 and 5.4% in 2026.
ResearchFinancial stability and systemic risk
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2025-08-03•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority is participating in the Nane Nane farmers’ exhibition in Arusha to provide insurance education and gather public feedback. Outreach includes sessions on health, agricultural, fisheries, and livestock insurance, emphasizing risk protection against drought, floods, and pests. The event runs from 1 to 8 August 2025.
Financial literacy & educationFinancial literacy and education
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2025-08-03•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait, via the Kuwait Institute of Banking Studies, has launched the fourth cohort of the Risk Management Leaders Program under the Kafa’a initiative, aimed at enhancing risk management skills in collaboration with Kuwaiti banks. The five-month program includes training phases in Kuwait and a field training phase at St Andrews University, with applications open from 3 August to 28 August 2025.
Policy & regulationImplementation, projects & pilotsRisk management
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2025-08-03•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's Analytical Note reveals that measures of firms' price setting behavior based on recent inflation outcomes are more effective in forecasting non-tradables inflation than survey-based expectations, though differences are minor. The findings aim to aid the Monetary Policy Committee in assessing inflation outlooks and Official Cash Rate settings, especially after significant inflation deviations.
Research
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2025-08-03•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has launched its Cash Use in New Zealand survey, open until 10 October 2025, to gather data on cash access and usage, with results to be published in early 2026 to aid in redesigning the cash system. Conducted by Rangahau Aotearoa Research New Zealand, the survey includes questions on payment preferences and cash handling, with plans to shift to annual surveys from 2025.
ResearchCurrency and cash management
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2025-08-03•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand is consulting on recommending the designation of the High Value Clearing System (HVCS) under the Financial Market Infrastructure Act 2021, bringing it under regulatory oversight and enhancing legal protections. The HVCS, crucial for large-value payments exceeding NZD 420 billion monthly, would comply with the Act, allowing the Reserve Bank to oversee its governance and crisis management.
Policy & regulationRules & requirementsPayments and payment systems
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2025-08-03•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved updates to the personal accident insurance policy under the “Tameenak fi Masr” initiative, increasing coverage to EGP 250,000 for death and permanent total disability. Effective July 2025, the revised policy extends eligibility to all Egyptians working abroad and their families, managed by the Egyptian Travel Abroad Insurance Pool. Coverage includes natural death, accidental death, and permanent total disability, with online subscription available for those without work permits.
Policy & regulationRules & requirementsOther
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2025-08-03•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted a delegation from the Central Bank of Kenya to exchange cybersecurity expertise and showcase the Egypt Financial Computing Incident Response Team's (EG-FinCIRT) model. Discussions focused on threat detection, vulnerability management, and alignment with global standards, particularly in FinTech. The Central Bank of Kenya plans to develop a cybersecurity strategy inspired by Egypt's model, including establishing an incident response team and a regulatory framework.
Policy & regulationCooperationCyber resilienceDomestic cooperation
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2025-08-02•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) is participating in the Nane Nane 2025 farmers’ exhibition in Dodoma to provide public services and insurance education. TIRA aims to increase public understanding of insurance to 80% by 2030, offering information on agricultural and livestock insurance at its booth. The exhibition was inaugurated by Vice President Philip Mpango.
Financial literacy & educationFinancial literacy and education
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2025-08-02•Thailand•Thailand Office of Insurance Commission
Thailand's Office of Insurance Commission advises the public, farmers, and businesses to review insurance policies for natural hazard coverage during the rainy season. It stresses comprehensive motor, property, and agricultural insurance, and reminds operators of the legal requirement for liability insurance for large advertising signs. Non-compliance can lead to imprisonment and fines.
Policy & regulationGuidance & interpretationOther
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2025-08-02•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) released a report from its Expert Committee on establishing GIFT IFSC as a Global Commodity Trading Hub. Recommendations include classifying commodity trading as "financial services," expanding derivatives trading, and amending regulations for centralized hedging and broader banking activities. The IFSCA plans to discuss these proposals with the Government of India and relevant agencies.
Policy & regulationReform agendas & prioritiesMarket development
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2025-08-02•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services, led by Chairman French Hill, conducted a bipartisan delegation visit to Peru to enhance financial cooperation and combat transnational crime and illicit finance. Meetings with Peruvian officials, including President Dina Boluarte and Central Reserve Bank Chairman Julio Velarde, also addressed investment in critical infrastructure and shared democratic values.
Policy & regulationCooperationCross-border cooperation
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2025-08-02•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on Agribank’s 11th Party Congress, highlighting restructuring achievements from 2020–2025 and setting priorities for modernisation, digital transformation, and governance for 2025–2030. Key metrics include a state budget capital injection of VND 20.6 trillion, total assets exceeding VND 2,300 trillion, and a non-performing loan ratio of 1.79%. The Deputy Prime Minister urged Agribank to prepare for equitisation and adhere to Basel II, with plans for Basel III and ESG compliance.
Policy & regulationReform agendas & prioritiesOther
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2025-08-02•Vietnam•State Bank of Vietnam
The State Bank of Vietnam plans to implement the National Assembly resolution to establish an International Financial Centre in Ho Chi Minh City and a regional centre in Da Nang by end-2025. A national steering committee, led by the Prime Minister, will oversee strategy, policy, infrastructure, and cooperation. The action plan includes five workstreams focusing on legal frameworks, digital infrastructure, financial services development, human capital, and international benchmarking.
Policy & regulationImplementation, projects & pilotsOther
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2025-08-01•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) released its quarterly Financial Saving and Financing report, revealing total financial saving at 97.5% of GDP and total financing at 100.9% of GDP as of March 2025. The report includes a detailed dataset on financial intermediation channels, covering components such as deposits, fixed-income securities, and fiduciary certificates.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-01•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) issued a public warning and updated its blacklist, adding four websites offering investments in biens divers without required authorisations. The new entries include wine, champagne, gold, and green investment offers. The AMF emphasized that biens divers offers must be registered before marketing in France, and noted the blacklist is frequently updated but not exhaustive.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-08-01•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has released its quarterly liquidity assessment, identifying 1,346 bonds as liquid and subject to MiFID II transparency requirements from 18 August to 16 November 2025. The assessment is based on quantitative criteria like daily average trading activity and percentage of days traded. Updates and corrections to the data may occur within the quarter and are published in the Financial Instruments Transparency System (FITRS).
Policy & regulationImplementation, projects & pilotsFinancial and market indicatorsSupervisory data
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DFV-120 (Topic 61) detailing intraday repo operations.
Policy & regulationGuidance & interpretationOther
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DCIP-78, Subject 4, addressing overseas remittance operations and fund transfers to the central bank.
Policy & regulationGuidance & interpretationCross-border payments
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued an external operational and services circular detailing the management of its foreign exchange market intervention operations.
Policy & regulationGuidance & interpretationForeign exchange policy and markets
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DGOF-482, detailing regulations on intraday repurchase agreements.
Policy & regulationGuidance & interpretationOther
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operating and Services Circular DOAM-276, Item 13, detailing regulations on deposits and remunerated balances for the General Directorate of Public Credit and National Treasury.
Policy & regulationRules & requirementsLiquidity risk
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2025-08-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DSP-36, focusing on overnight repo transactions conducted through compensation.
Policy & regulationGuidance & interpretationOther
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2025-08-01•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has established data and document-transmission obligations for crowdfunding service providers (CSPs) following a market consultation. These requirements include structured data on offers, funded projects, and material changes to authorisation conditions, as per the EU Crowdfunding Regulation. The resolution will be published in the Official Gazette and takes effect on 29 September 2025.
Policy & regulationRules & requirementsCrowdfunding
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2025-08-01•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market issued regulatory decisions, amending procedures under martial law and classifying certain projects as dubious investments. It granted an investment consulting licence to JSC State Savings Bank of Ukraine and processed bond and share issuance approvals. The Commission also approved draft laws and resolutions, registered bond and share issues, and made senior appointments at several professional participants.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-08-01•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market (NSSMC) announced the procedure for returning assets of Freedom Finance Ukraine LLC clients will commence on 2 August, with payments expected by the end of summer. Clients can apply via depository institutions or the temporary manager from 4 August. The NSSMC will monitor the process to ensure investor rights are protected.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-08-01•Peru•Central Bank of Peru
The Central Bank of Peru reported significant growth in non-traditional exports for June, with fishery, agricultural, and textile exports rising by 133.3%, 13.5%, and 9.9%, respectively, compared to June 2024. Non-traditional fishery exports reached USD 270 million, driven by increased pota biomass availability and higher international prices. Agricultural export growth was bolstered by increased shipments of avocados, cocoa, blueberries, frozen fruits, and mangoes.
Data & statisticsEconomic data and developments
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2025-08-01•West Africa•Central Bank of West African States
The Central Bank of West African States officially launched the Interoperable Platform of the Instant Payment System (PI-SPI) on 30 September 2025, after real-world usage testing began on 5 June 2025. Selected customers from participating banks, microfinance institutions, and electronic money issuers validated performance under live conditions. Participation is restricted to institutions meeting the Central Bank's technical and security criteria.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-08-01•Georgia•National Bank of Georgia
The National Bank of Georgia has approved its 2025–2027 Market Conduct Supervision Strategy to enhance consumer protection and market conduct supervision. The strategy emphasizes principle-based supervision, proactive risk identification, and thematic inspections, aiming to promote fair competition and safeguard consumer interests. It will be reviewed every three years to adapt to evolving challenges.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protection
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2025-08-01•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) warns against a fraudulent investment scheme by Syed Mohsin Sultan Shah under "MAG Ventures." The scheme, offering partnerships in meat exports with promised monthly profits of 5% to 12%, is linked to unauthorized entities like "Galaxy Traders" and several MAG-named companies. SECP advises against investing with these entities, now on its list of unauthorized companies, and has referred the matter to investigation authorities.
SupervisionAlertsFraud and scams
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2025-08-01•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan announced initiatives to bolster the mutual funds industry, including registering the Mutual Funds Association of Pakistan as a self-regulatory organization, approving a Digital Asset Management Companies Framework, and forming a committee to develop exchange traded funds. These initiatives aim to enhance industry development, investor education, and market growth. Additionally, SECP hosted a focus group session on mutual funds, resulting in a white paper and implementation roadmap.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-08-01•China•Central Bank of the Republic of China
The People's Bank of China and the China Securities Regulatory Commission have issued the Measures for the Supervision and Administration of Financial Infrastructures, effective 1 October 2025, establishing a unified supervisory framework. The measures include criteria for identifying systemically important financial infrastructures, macroprudential management requirements, and updated rules on inspections, penalties, and recovery. The framework aims to standardize supervisory expectations across the sector, focusing on business supervision, risk management, and corporate governance.
Policy & regulationRules & requirementsMarket infrastructure
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2025-08-01•China•Central Bank of the Republic of China
The People's Bank of China (PBOC) engaged with the US-China Business Council to discuss economic and trade relations, macroeconomic policy, and financial sector opening. Deputy Governor Xuan Changneng emphasized the PBOC's commitment to enhancing the foreign investment environment and encouraged US participation in China's financial markets. Council members, including Goldman Sachs and PwC, expressed interest in long-term investment and supporting cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-08-01•China•Central Bank of the Republic of China
The People's Bank of China outlined its strategy for the second half of 2025, focusing on accommodative monetary policy, directing finance to key real-economy priorities, and advancing financial reform and cross-border RMB use. Measures include ample liquidity, reasonable credit growth, and targeted support for technology, consumption, and small businesses. The agenda also emphasizes risk management, local government debt resolution, and cross-border payment system development.
Monetary policyMonetary policy framework & strategy
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2025-08-01•Europe•European Banking Authority
The European Banking Authority (EBA) released the 2025 EU-wide stress test results for 64 banks, revealing a CET1 capital depletion of 370 basis points under a severe adverse scenario, leaving a CET1 ratio of 12%. Despite EUR 547bn in total risk losses, strong income generation mitigated depletion compared to 2023. The results will inform Pillar 2 supervisory assessments and discussions on capital adequacy and distribution plans.
SupervisionReviews, inspections & stress testsStress testing
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2025-08-01•Croatia•Croatian National Bank
The European Central Bank and the European Banking Authority released the 2025 EU-wide stress test results, while the Croatian National Bank published its supervisory stress test outcomes for Croatia's less significant credit institutions. Both tests show banks can withstand significant losses under severe economic downturns. Croatia's institutions demonstrated stronger resilience, with a 58 basis point decline in the Common Equity Tier 1 capital ratio due to higher initial capitalisation.
SupervisionReviews, inspections & stress testsStress testing
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2025-08-01•Portugal•Bank of Portugal
The Bank of Portugal reported that Maastricht-defined general government debt rose by EUR 2.5 billion in June 2025, reaching EUR 287.0 billion, or 98.1% of GDP for Q2 2025. The increase was driven by EUR 2.1 billion in long-term debt securities issuance, with loans and deposit liabilities also contributing. Despite this, net public debt decreased by EUR 1.5 billion to EUR 258.8 billion due to a rise in general government deposit assets.
Data & statisticsBalance of payments and other external statistics
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2025-08-01•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina has published the list of systemically important banks and their capital buffer rates, based on data as of 31 December 2024. This list was prepared with the Central Bank of Bosnia and Herzegovina, the Banking Agency of Republika Srpska, and the Deposit Insurance Agency of Bosnia and Herzegovina, following the Law on Banks and secondary legislation. Separate rulings will be issued for each designated bank, with details in the Agency's "Publications" section.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-08-01•New Zealand•Department of Internal Affairs
New Zealand's Department of Internal Affairs settled with Christchurch Casinos Limited for breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The casino admitted to all seven causes of action and will recommend a NZD 5.06 million penalty to the High Court. DIA's investigation found failures in AML/CFT compliance, account monitoring, customer due diligence, business relationship termination, and recordkeeping. The High Court will determine the final penalty, with no direct involvement of the casino in money laundering or terrorism financing alleged.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-08-01•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia's stress tests, with the ECB and EBA, confirm the Slovenian banking system's stability and capital adequacy under scenarios from 2025 to 2027. Despite this, increased geopolitical risks affect the domestic outlook. The tests highlight the need for continued prudence in capital planning and enhanced operational resilience, including IT and cyber resilience investments.
SupervisionReviews, inspections & stress testsStress testing
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2025-08-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's Q2 2025 Survey on SMEs’ Credit Conditions shows stable credit conditions but a shift towards more difficult bank credit approvals. Excluding uncertain responses, 65% of SMEs viewed credit approval as "similar" or "easier" than six months prior, down from 75%, while 35% found it "more difficult," up from 25%. The HKMA noted potential fluctuations due to small sample sizes and that perceptions may not align with actual credit supply.
Data & statisticsEconomic data and developments
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2025-08-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority appointed Mr Zhu Haibin as Executive Director (Research), effective 1 October 2025, following approval by the Financial Secretary. Mr Zhu will oversee research on macroeconomics and financial stability.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-08-01•Cyprus•Cyprus Securities and Exchange Commission
SCSS Fund Management Ltd has notified the Cyprus Securities and Exchange Commission (CySEC) of the initiation of the dissolution and liquidation of MIRAM RAIF V.C.I.C. LTD under Article 138(7)(a) of the Alternative Investment Funds Law of 2018. The RAIF will remain listed as "under liquidation" until the process is completed, after which CySEC will remove it from the RAIFs Register per Article 138(9).
SupervisionAuthorisations & approvalsOther
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2025-08-01•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that Kendris Capital Limited has initiated the dissolution and liquidation of ACE I - Multi - Asset Absolute Return Strategy, a compartment of ACE Capital RAIF V.C.I.C. Limited. The compartment will remain registered and marked "under liquidation" on CySEC’s website until the process is completed. CySEC will remove it from the RAIFs Register upon submission of all required documents.
SupervisionAuthorisations & approvalsOther
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2025-08-01•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that SCSS Fund Management Ltd has initiated the dissolution and liquidation of the investment compartment IMPACTUS FUND OF FUNDS, part of IMPACTUS RAIF V.C.I.C. PLC. The compartment will remain registered and marked "under liquidation" on CySEC’s website until the process is finalized and necessary documents are submitted for its removal from the RAIFs Register.
SupervisionAuthorisations & approvalsOther
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2025-08-01•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency announced Criminal Code amendments, extending liability to collection agency employees for debtor interaction abuses. Effective 16 September 2025, penalties include fines up to 5,000 AEK and potential activity bans. These changes align with Article 5 of the Law on Collection Activities and Article 211-1 of the Administrative Offences Code.
Policy & regulationRules & requirements
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2025-08-01•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has updated its Enforcement Decision-Making Process (EDMP) to enhance clarity, effective 1 August 2025. The revised EDMP outlines the steps for exercising statutory powers in enforcement actions and includes a table of potential sanctions.
EnforcementEnforcement framework
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2025-08-01•Global•Bank for International Settlements
The Bank for International Settlements' 2024 survey of 93 central banks shows widespread CBDC engagement, with wholesale development more advanced than retail. It highlights 91% involvement in CBDC projects, with advanced economies focusing on both types. Additionally, 45% of jurisdictions have enacted stablecoin and cryptoasset regulations, with tokenisation activities in 48%, primarily involving bonds.
ResearchCBDC
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2025-08-01•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has updated the UZONIA Index methodology to base its calculation on overnight REPO operations, reflecting increased REPO activity in the interbank money market. Previously reliant on deposit operations, the change follows significant REPO growth, averaging 66% of market volume in early 2025. The revision, effective August 1, 2025, was developed with market participants and the Money Market Group.
Policy & regulationRules & requirementsFinancial and market indicators
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2025-08-01•Thailand•Thailand Office of Insurance Commission
Thailand’s Office of Insurance Commission (OIC) held a seminar in Khon Kaen to enhance staff capabilities in handling complaints and mediating insurance disputes, aiming for a unified service standard nationwide. The OIC is revising its rules to create a single framework for complaint handling and mediation, incorporating electronic service channels and an upgraded information system. This initiative seeks to improve coordination with insurers and expedite consumer case settlements.
Policy & regulationRules & requirementsOther
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2025-08-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa will hold a briefing in Dakar on 26 to 27 August 2025 for diplomats, partners and media executives. It will present its 2024 annual report and use the event to raise AML/CFT awareness among media organizations and seek wider stakeholder support for regional messaging.
Policy & regulationCooperationAML and CFT
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2025-08-01•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported inflation within the 5% ±2% target, reducing the refinancing rate by 0.75 points to 8.25% in early 2025. Liquidity management included TJS 12.4bn in securities sales and TJS 1.3bn daily in overnight deposits, with the somoni strengthening 9.4% against the USD. The financial sector had TJS 52.2bn in assets, TJS 42.1bn in liabilities, TJS 13.7bn in new lending, growth in cashless payments, and USD 3.0bn in foreign investment.
Monetary policyPolicy rate decisionsOther
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2025-08-01•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) released a report on "finfluencers," examining their impact on retail investor behavior and proposing non-binding good practices for regulators and market intermediaries. It identifies risks like unlicensed advice and fraud, suggesting enhanced monitoring, conflict-of-interest disclosure, and cross-border cooperation. IOSCO plans to collaborate with platform providers to mitigate online risks to retail investors.
Policy & regulationGuidance & interpretationConsumer and investor protectionFinancial literacy and education
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2025-08-01•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten reported a record profit of Cg 46.6 million in its 2024 Annual Report, driven by increased net interest income and investment returns. Key developments include the sale and reinvestment of gold reserves, the publication of the Financial Sector Reform Program's final report, and the establishment of a deposit guarantee scheme. In 2025, the bank aims to maintain exchange-rate stability and support sustainable economic growth.
OtherActivity and performance reporting
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2025-08-01•Brazil•Brazilian Pension Funds Authority (PREVIC)
Brazil’s National Complementary Pension Council is consulting on a draft resolution by the Brazilian Pension Funds Authority (PREVIC) to amend CNPC Resolutions No. 40/2021 and No. 50/2022 for closed supplementary pension entities. The proposal aims to enhance predictability and legal certainty in benefit updates and refine rules for key member options, aligning with sector developments under CNPC Resolution No. 59/2023.
Policy & regulationRules & requirementsOther
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2025-08-01•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) referred AmazingTech Pte Ltd (ATPL) to the Commercial Affairs Department for investigation after rejecting its Major Payment Institution licence application for the Tokenize Xchange platform. Concerns include insufficient assets to meet customer claims, potential non-segregation of customer assets, and possible false representations to MAS. Director Hong Qi Yu has been charged with fraudulent trading, and police investigations continue.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-08-01•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has updated the Ministry of Finance’s Circular 77/2025/TT-BTC, clarifying "securities business services" and "securities transfers" under Decree 181/2025/ND-CP related to the Value Added Tax Law. Effective 30 July 2025, it outlines services like brokerage, trading, post-trade infrastructure, proprietary trading, market making, underwriting, investment advisory, and fund management. It also details securities transfers via exchange systems, off-exchange, auctions, tenders, and bookbuilding.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-08-01•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a VND 1,000,000 fee for the issuance of a securities practice certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer to VietinBank or Vietcombank, or directly at the Commission. Failure to complete the procedure within one year of notification will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-08-01•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission issued Notice No. 78/TB-UBCK mandating Mr Vu Manh Tien and others to pay VND 1,000,000 for the (re)issuance of securities practising certificates. Payments, as per the Ministry of Finance’s Circular 25/2022/TT-BTC, can be made via bank transfer or in person. Failure to complete the process within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-08-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) launched Mercado de Capitais ABERTO and introduced new rules to enhance market access for smaller issuers, including the FÁCIL regime under Resolutions 231 and 232. It initiated public consultations on financial statement presentation, rating agency regulations, and amendments to CVM Resolution 160. The CVM also issued updates on economic bulletins, circular letters, and enforcement actions, including stop orders and settlement agreements.
Policy & regulationRules & requirementsMarket development
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2025-08-01•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM), with the Financial Innovation Laboratory (LAB) and Fenasbac, announced eight projects for LEAP's first cycle, targeting tech solutions for Brazilian capital markets. Projects cover crowdfunding integration, carbon market transparency, sustainability reporting, compliance automation, and investor suitability. LEAP, part of NEXUS, focuses on early-stage projects from ideation to prototypes.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegtech and suptech
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2025-08-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan revised its regulatory framework for consumer credit cards and lines to mitigate household over-indebtedness and align banks' capital requirements with risks. Key changes include capping credit card limits at five times a borrower's net after-tax income, excluding secured credit lines, and restricting consumer credit lines above this cap to 1% of a bank's Tier 1 capital. Additionally, securities from multilateral development banks with an "A-" rating are now classified as high-quality assets, exempt from extra provisioning.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-08-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile public reception in Biləsuvar on 6 August to enhance consumer and investor rights protection. The event will address financial services-related appeals from citizens in Jabrayil, Kalbajar, Qubadli, Zangilan, and Lachin, with applications accepted through the bank's hotline and WhatsApp channel.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-08-01•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,140 presents a stochastic balance sheet microstructural model to assess solvency and liquidity risks in stress testing for major UK banks. It estimates a historical average one-year bank default probability of 0.7%, declining to 0.3% by 2024 Q1. The research highlights the impact of balance sheet constraints and behavioural responses on default risk and evaluates the effectiveness of prudential tools like the early-2020 dividend restriction.
ResearchStress testing
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2025-08-01•Mozambique•Bank of Mozambique
The Bank of Mozambique has introduced a temporary regime for foreign exchange position limits within its prudential framework for credit institutions. Institutions must not exceed a long FX position of 2% or a short position of 20% of their own funds, with individual currency positions capped at 1% (long) and 10% (short). This applies to all supervised credit institutions, with non-compliance subject to sanctions under Mozambique’s credit institutions law.
Policy & regulationRules & requirementsPrudential risksForeign exchange policy and markets
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2025-08-01•Mozambique•Bank of Mozambique
The Bank of Mozambique issued a circular mandating credit institutions to report foreign exchange position limits and market risk using specific prudential templates, aligning with the exceptional regime for foreign exchange position limits. The temporary reporting applies to templates under Circular No. 1/SCO/2013, with submissions via the Banking Supervision Application. The circular is effective from 1 August 2025 for one year.
Policy & regulationRules & requirementsForeign exchange policy and marketsRegulatory reporting
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2025-08-01•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission's Capital Markets Efficiency Promotion Act reduces the stock transaction tax from 0.6% to 0.1%, boosting investor savings and market liquidity. It standardizes taxation, introduces a 15% capital gains tax on foreign shares, offers a 50% employer tax deduction for retirement contributions, and lowers the documentary stamp tax on original share issuance to 0.75%.
Policy & regulationGuidance & interpretationMarket development
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2025-08-01•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urged bondholders of 15 Property Perfect Public Company Limited bond series to review information and exercise their rights at an electronic meeting on 6 August 2025. Agenda items include changes to record dates, exemptions from closing the bond register, and debt restructuring measures like maturity extensions and interest rate adjustments. The SEC mandates the bondholders’ representative to analyze the proposals' impacts and encourages bondholders to seek detailed information before voting.
SupervisionOtherCorporate governance
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2025-08-01•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission imposed civil sanctions on six individuals for manipulating the share price and trading volume of Eureka Design Public Company Limited (UREKA), totaling THB 65,946,478. Sanctions include trading bans and prohibitions on serving as directors or executives, with the largest penalties against Mr. Preecha Kraikruan and Mr. Sarayuth Kong-um. If offenders refuse to sign consent letters, the SEC will escalate the matter to the public prosecutor for maximum civil sanctions.
EnforcementSanctions & designationsMarket abuse
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2025-08-01•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority announced that Best financière sold 547,813 Vicenne shares, reducing its stake below the 33.33% threshold to 29.42%. Best financière plans to halt further sales for six months and is acting in concert with Mr. Adil Bennani.
SupervisionRegulatory reportingOther
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2025-08-01•Malta•Central Bank of Malta
The Central Bank of Malta released a feedback report on consultations for Central Credit Register Version 2, detailing its stance on input from stakeholders, including existing participants.
Policy & regulationGuidance & interpretationRegulatory burden
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2025-08-01•Europe•European Payments Council
The European Payments Council (EPC) announced that the EPC Directory Service (EDS) for the Verification Of Payee (VOP) scheme will go live on 2 September 2025, following an extended pilot. Participants and Routing and/or Verification Mechanisms (RVMs) registered during the pilot will be automatically recognized in live mode. Key data requirements include setting the scheme operational readiness date at least three days in advance and ensuring VOP API endpoints are recorded with the environment set to live.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-08-01•Russia•Central Bank of Russia
The Central Bank of Russia's July 2025 monitoring shows a decline in maximum interest rates on Russian ruble deposits from 17.91% to 16.44% across the month among the top 10 banks by household deposits. The report excludes special-category deposits and rates contingent on conditions, with average maximum rates by maturity ranging from 15.75% for up to 90 days to 14.20% for over one year.
Data & statisticsFinancial and market indicators
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2025-08-01•Chile•Central Bank of Chile
The Central Bank of Chile has enhanced its Statistical Database by adding new datasets in the "Equities" and "Consolidated banking information" sections to improve access to financial data for capital market analysis. The banking section now includes consolidated financial statements for each bank, while the equities section provides monthly stock market data from the Santiago Stock Exchange. Additionally, new Financial Soundness Indicators are published to assess banks' stability and risk exposures.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-08-01•United States•Federal Reserve Board
Federal Reserve Board Governor Adriana D. Kugler will resign effective 8 August 2025 to return to Georgetown University. Kugler, who joined the Board in September 2023, contributed to internal committees on financial stability and regional banking, and represented the Board at the Center for Latin American Monetary Studies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments