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2025-06-30•Lithuania•Bank of Lithuania
The Bank of Lithuania reported a 30.3% year-on-year decline in foreign direct investment (FDI) inflows for Q1 2025, totaling EUR 352 million, while FDI income rose 5.1% to EUR 823.6 million. The cumulative FDI position increased 7.6% to EUR 39.4 billion, with significant inflows from Germany and the UK, and notable outflows to Sweden and Poland. Outward direct investment from Lithuania was EUR 94.8 million, with the US as the largest destination.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Portugal•Bank of Portugal
The Bank of Portugal has maintained the Republic of Mozambique and the Macao Special Administrative Region on its list of material third countries for countercyclical capital buffer (CCyB) rates, effective from 1 July 2025 to 30 June 2026. This decision follows an assessment aligned with the European Systemic Risk Board's recommendation, focusing on direct exposures to the private non-financial sector. The list will be reviewed annually.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-06-30•Portugal•Bank of Portugal
The Bank of Portugal announced that the countercyclical capital buffer (CCyB) rate will remain at 0% from 1 July 2025 and increase to 0.75% from 1 January 2026. This decision affects credit risk exposures to the domestic private non-financial sector in Portugal and is reviewed quarterly. The Bank has published the decision with supporting analysis and information on CCyB rates for EU and EEA Member States.
Policy & regulationRules & requirementsCapital adequacyMacroprudential policy and tools
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2025-06-30•Portugal•Bank of Portugal
The Bank of Portugal released May 2025 statistics indicating a 6.9% year-on-year increase in household lending, the highest since August 2008, with housing loans rising by EUR 960 million. Corporate lending grew by 2.7% year on year, the strongest since June 2022, while household deposits increased by 5.6% year on year, continuing a trend of monthly deceleration. The data excludes non-transactional effects like exchange rate movements.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-30•Germany•BaFin
Germany's Federal Financial Supervisory Authority (BaFin) will withdraw all exemptions from the German Money Laundering Act granted before 20 August 2008, effective 10 July 2027. This decision aligns with the EU Anti-Money Laundering Regulation 2024/1624, which lacks equivalent exemption provisions. BaFin indicates that any future exemptions for low-risk activities would require new German legislation and be more restrictive.
Policy & regulationRules & requirementsAML and CFT
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2025-06-30•T?rkiye•Capital Markets Board of Türkiye
The Capital Markets Board of Türkiye launched financial literacy training for university students under the ISKUR Youth Program, starting with a pilot at Zonguldak Bülent Ecevit University. This initiative, part of broader efforts including the "Finance High School" and "Finance Academy" projects, aims to enhance economic decision-making and risk awareness. Additionally, Presidential Circular No. 2025/9 established 22 May as "Financial Literacy Day," promoting financial awareness as state policy.
Financial literacy & educationFinancial literacy and education
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2025-06-30•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Process Review Panel for the Mandatory Provident Fund Schemes Authority (MPFA) released its 2024 Annual Report, reviewing 29 selected cases from 6,557 closed or discontinued cases. The report highlights efforts to enhance enforcement consistency and transparency, identifies areas for improvement, and offers recommendations to bolster public confidence in the Mandatory Provident Fund system. The panel noted the departure of two members and invited public and market feedback.
Policy & regulationPeer reviews and country evaluationsAuditing
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2025-06-30•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong appointed Mr. Jacky Lio Veng-hei and Professor Hui Kai-lung as non-official members of the Industry Advisory Committee on General Business of the Insurance Authority for a two-year term starting 1 July 2025. The Bureau thanked outgoing members Dr. Fung Hong and Professor Tang Heiwai. The committee advises the Insurance Authority on general insurance matters, with members from sectors including fintech, medical, legal, and academia.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-30•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong’s Financial Services and the Treasury Bureau acknowledged the 2024 Annual Report of the Process Review Panel for the Mandatory Provident Fund Schemes Authority, assessing cases from May 2023 to April 2024. The report aims to enhance the fair use of MPFA’s regulatory powers and improve Hong Kong’s retirement protection framework. The PRP, an independent panel, reviewed the MPFA’s procedures for trustee approvals, scheme supervision, and complaint handling.
Institutional developmentOtherSupervision process and methodologies
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2025-06-30•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong has appointed and reappointed 20 non-official members to the Task Force on Promoting Web3 Development for a two-year term starting 1 July 2025. Chaired by the Financial Secretary, this Task Force aims to support the Government’s initiatives on Web3 and the digital asset ecosystem in line with Policy Statement 2.0. The membership includes industry leaders and senior officials from key financial and regulatory bodies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-30•Finland•Bank of Finland
The Bank of Finland is reforming its statistical offering by replacing traditional tables and charts with interactive Microsoft Power BI dashboards, organized by topic. This transition aims to address technological obsolescence and improve user access to information. As dashboard coverage expands, legacy tables and charts will be phased out, with users encouraged to utilize the Bank's open data service for programmatic access.
Data & statisticsRegulatory reporting
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2025-06-30•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru’s Superintendencia de Banca, Seguros y AFP has introduced new identity-validation measures for credit and debit card transactions, requiring two-factor authentication. Card-present transactions must use a chip and PIN from 1 July, while card-not-present transactions need card data and a dynamic verification code. The deadline for implementing a PIN as a second factor and cryptographic techniques for third-party platforms is extended to 1 April 2026, after which firms will be liable for unrecognised transactions lacking a second factor.
Policy & regulationRules & requirementsCyber resilience
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2025-06-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for May 2025, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-06-30•Philippines•Department of Finance (Philippines)
The Philippines Department of Finance, led by Finance Secretary Ralph G. Recto and SEC Chairperson Francis Lim, is advancing reforms to enhance business ease and capital market depth. Key initiatives include implementing the Capital Markets Efficiency Promotion Act, tightening crypto asset oversight, and simplifying SME registration. Additional measures involve updating SEC fees, enhancing NBFI supervision, and aligning market practices with global standards.
Policy & regulationImplementation, projects & pilotsMarket developmentCorporate governance
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2025-06-30•Australia•Reserve Bank of Australia
The Reserve Bank of Australia has released a consultation paper detailing draft guidance for the Australian Clearing and Settlement Facility Resolution Regime, following amendments to the Corporations Act 2001. The guidance aims to clarify the RBA's use of crisis resolution powers over domestic CS facilities, with submissions open until 11 August 2025.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-06-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported the Exchange Fund's total assets at HKD 4,159.5 billion as of 31 May 2025, an increase of HKD 186.2 billion from April. Foreign currency assets rose by HKD 208.1 billion, while Hong Kong dollar assets decreased by HKD 21.9 billion. The Monetary Base increased to HKD 2,124.9 billion, with Backing Assets rising to HKD 2,356.2 billion, and the Backing Ratio slightly improved to 110.88%.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's May 2025 residential mortgage survey reported a 5% increase in mortgage applications and a 5.3% rise in loan approvals, totaling HKD 26.6 billion. Despite this, loan drawdowns decreased by 5.3% to HKD 16.2 billion. The share of new mortgages linked to the Hong Kong Interbank Offered Rate (HIBOR) rose to 93.4%, while those tied to best lending rates declined to 1.9%.
Data & statisticsFinancial and market indicators
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2025-06-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert regarding fraudulent websites and phishing emails linked to Standard Chartered Bank (Hong Kong) Limited. The alert emphasizes that banks do not send SMS or emails with embedded links for transactions or request sensitive information. Affected individuals should contact their bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-06-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) published data on Hong Kong's foreign currency reserves and liquidity for May 2025, adhering to the International Monetary Fund's Special Data Dissemination Standard. The HKMA maintains a monthly publication cycle for Exchange Fund data, including three SDDS-related releases and one on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a 2.5% increase in total deposits and a 0.9% rise in total loans and advances for May 2025. The Hong Kong dollar loan-to-deposit ratio decreased to 70.5% as deposits outpaced lending. Notably, renminbi deposits fell by 5.4%, while monetary aggregates showed significant growth, with Hong Kong dollar M1 increasing by 12.3% in May.
Data & statisticsMonetary data
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2025-06-30•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that GMM Global Money Managers AIFM Ltd has begun dissolving and liquidating BLUE PI RAIF V.C.I.C. LTD's investment compartment, BLUE PI REAL ESTATE. The compartment will stay listed in the Registered Alternative Investment Funds Registry and on CySEC’s website as "under liquidation" until the process is completed and documents are submitted per Article 138 of the Alternative Investment Funds Law of 2018.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-06-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Tlek Kabykenevich Alzhanov's acquisition of major participant status in JSC Standard Life Life Insurance Company. This status requires measures to enhance the insurer's financial condition, including capital increases if necessary. Standard Life holds 4.0% of the sector's aggregate assets, ranking sixth among Kazakhstan's life insurers.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-06-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency announced amendments requiring fire liability insurance for large public facility owners. Sites like shopping centres over 2,000 square metres must have insurance covering life, health, and property harm. The minimum insurance sum is 75,000 monthly calculation indices (KZT 295 million), with specific payout caps for damages.
Policy & regulationRules & requirementsOther
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2025-06-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency issued guidance on voluntary motor insurance (CASCO) during car sales, emphasizing CASCO policies are non-transferable. Sellers can terminate the contract for a partial refund or reissue it for another vehicle, subject to contract terms. The agency advises confirming procedures with insurers and reviewing terms at purchase if a sale before expiry is anticipated.
Policy & regulationGuidance & interpretationOther
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2025-06-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan declined to approve Oleg Sergeevich Zaitsev for a senior management role in the securities market.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-30•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance is consulting on legislative changes to housing finance, proposing longer mortgage maturities, increased flexibility for the loan-to-value cap, and adjustable rules for housing company loans. The draft suggests extending mortgage terms to 35 years and allowing a loan-to-value cap of up to 95%. Housing company loans may be regulated by decree, with borrowing capped at 60–70% of the debt-free price and a maximum term of 30 years.
Policy & regulationRules & requirementsLending
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2025-06-30•Bulgaria•National Bank of Bulgaria
Bulgarian National Bank Governor Dimitar Radev attended the 95th Annual General Meeting of the Bank for International Settlements in Basel, where central banks approved the annual report and financial statements. A dividend of 380 special drawing rights (SDR) per share was adopted for the 2024/2025 financial year. The Bulgarian National Bank, holding 8,000 shares, expects to receive approximately 3,040,000 SDR, estimated at BGN 7.45 million.
Institutional developmentOther
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2025-06-30•United Kingdom•UK Parliament
The UK Parliament's Treasury Select Committee report on the Lifetime ISA (LISA) highlights concerns over its dual purpose for home purchase and retirement saving, which may lead to unsuitable strategies and expose savings to avoidable risks. It criticizes the impact of LISA holdings on means-tested benefits eligibility and the 25% charge for unplanned withdrawals, questioning the product's value for money. The report calls for LISA reform and clearer labeling if benefit eligibility rules remain unchanged.
Policy & regulationReform agendas & prioritiesOther
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2025-06-30•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston, with the Harvard Joint Center for Housing Studies and other Federal Reserve Banks, hosted a conference on record U.S. home prices' impact on affordability and local economies. The event highlighted a 60% rise in single-family home prices since 2019, with the 2024 median price at USD 412,500. Discussions focused on housing affordability as a constraint on labor markets and household wealth, emphasizing supply constraints, high construction costs, and zoning challenges.
ResearchOther
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2025-06-30•Middle East•Union of Arab Securities Authorities
The Union of Arab Securities Authorities, in collaboration with Algeria's COSOB and IAHEF, conducted a five-day training in Algiers on the venture capital lifecycle, covering topics from investment evaluation to exit strategies.
Policy & regulationImplementation, projects & pilotsFintech and insurtechArtificial intelligence
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2025-06-30•Middle East•Arab Monetary Fund
The Arab Monetary Fund organized the 19th meeting of the Arab Committee for Credit Information, gathering Arab central banks, monetary agencies, and credit information providers to discuss credit information systems. The meeting, held via videoconference, emphasized the role of these systems in enhancing lending efficiency, risk management, and financial inclusion.
Policy & regulationCooperationCredit ratings
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2025-06-30•South Africa•South African Reserve Bank
The South African Reserve Bank's May 2025 report shows USD 68,116 million in official reserve assets. Foreign currency reserves total USD 47,916 million, with securities and deposits at USD 34,586 million and USD 13,329 million, respectively. Predetermined short-term net drains include USD 3,934 million in principal and USD 1,769 million in interest outflows, partially offset by net long forward and futures positions of USD 529 million.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•South Africa•South African Reserve Bank
The South African Reserve Bank released the Corporation for Deposit Insurance’s (CODI) Annual Report 2024/25, detailing its first year operating the Deposit Insurance Scheme, protecting deposits up to ZAR 100,000 per depositor. By 31 March 2025, the Deposit Insurance Fund reached ZAR 20 billion, primarily funded by member banks' loans and premiums. CODI plans to enhance IT systems, optimize fund investments, and assess coverage adequacy, while seeking legislative amendments to bolster operational capabilities.
Data & statisticsCorporate governance
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2025-06-30•South Africa•South African Reserve Bank
The South African Reserve Bank has announced its 105th annual Ordinary General Meeting of shareholders, scheduled as a hybrid event on 8 August 2025. The agenda includes reviewing financial statements, deciding on audit remuneration and appointments, and electing non-executive directors. The panel confirmed incumbents Mr. Zoaib Hoosen, Mr. Stephen Jon van Coller, and Prof. Ferdinand Herbert Meyer as suitable candidates for the vacancies.
Institutional developmentLeadership change & appointmentsCorporate governance
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2025-06-30•South Africa•South African Reserve Bank
The South African Reserve Bank reported South Africa's gross external debt at USD 173,051 million as of 31 March 2025, up from USD 168,354 million at the end of 2024. The general government sector accounted for USD 81,683 million, with significant contributions from deposit-taking corporations and direct investment.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in South Africa's net international investment position (IIP) from ZAR 2,124 billion in December 2024 to ZAR 2,229 billion in March 2025, driven by a 1.8% rise in foreign assets to ZAR 9,460 billion, mainly due to valuation effects. Foreign liabilities increased by 0.9% to ZAR 7,231 billion, supported by higher portfolio and other investment liabilities. The net IIP as a share of GDP rose from 28.9% to 30.1% over the quarter.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has launched the Deposit Compensation Scheme (DCS) to provide automatic protection for retail deposits held with licensed deposit takers, effective 30 June 2025. The scheme, established under the Deposit Takers Act 2023, covers standard banking products but excludes investments like KiwiSaver, bonds, and shares, and is funded through industry levies.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-06-30•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand announced the appointment of Grant Spencer and the reappointment of Byron Pepper to its governing Board for five-year terms starting 1 July 2025. These appointments were made by the Governor-General on the Minister of Finance's recommendation following a public process by The Treasury.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) ended its intervention in Portus – Instituto de Seguridade Social, allowing provisional management to assume office while maintaining supervision. This follows a February 2025 agreement restoring Portus's economic, financial, and actuarial balance, with a settlement of BRL 2.149 billion. PREVIC approved a final intervention report with 12 recommendations, including sponsor guarantees and strengthening internal controls.
SupervisionInterventionsOther
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2025-06-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) held meetings to draft rules for integrating ESG practices into closed pension funds' portfolios. The draft requires EFPC to map current ESG practices, set expectations for asset managers, and define service provider roles, with implementation based on materiality and relevance. Governance of investment functions is emphasized, especially for smaller entities, with separate consultations for segment S1 funds.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-06-30•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
The Central Bank of Curaçao and Sint Maarten will issue a special coloured Caribbean guilder (Cg) 0.50 coin on 1 July 2025, marking the Caribbean guilder as the sole legal tender in both countries. The coin, featuring an orange blossom and thirty pearls, will be available in two versions and minted by the Royal Canadian Mint. It will circulate through commercial banks and is expected to attract collectors.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines' Q4 2024 report shows a narrowing of the domestic economy's net external liability to PHP 3.5 trillion quarter-on-quarter, up from PHP 2.5 trillion year-on-year. This improvement was due to reduced net external liabilities of non-financial corporations and a shift by other depository corporations to a net external asset position, despite higher external liabilities of the general government. Households and other depository corporations increased net financial assets, while the central bank's net financial asset position remained stable.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 5.8% increase in the country's net external liability to USD 69.3 billion at end-March 2025, driven by a rise in foreign investments in Philippine assets. External financial liabilities grew by 2.7% to USD 326.8 billion, while external financial assets increased by 1.9% to USD 257.5 billion. Foreign investments were primarily in other sectors, National Government securities, and banking instruments.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 0.2% quarterly decline in foreign currency deposit unit (FCDU) loans to USD 15.78 billion in Q1 2025, while foreign currency deposits reached a record USD 58.92 billion. Year-on-year, FCDU loans decreased by 1.8%, with medium- to long-term loans comprising 77.2% of the total. Philippine-based borrowers accounted for USD 9.91 billion of the loans, mainly in export, transportation, and power sectors.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Estonia•Finantsinspektsioon
Estonia’s Financial Supervision Authority (Finantsinspektsioon) issued a precept to Herrmann, Huebner & Partner Insurance Broker OÜ for failing to publish its 2024 annual financial report on time, as required by the Insurance Activities Act. The report was due within two weeks of approval by the general meeting and no later than 1 May 2025. The decision can be appealed to the Tallinn Administrative Court within 30 days.
SupervisionInterventionsAccounting and financial reporting
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2025-06-30•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that former financial adviser Murray McClune pleaded guilty to two charges of theft by a person in a special relationship, involving approximately NZD 1.7 million misappropriated from elderly clients between 2016 and 2022. McClune issued falsified statements to conceal the misuse of funds, with the offence carrying a maximum penalty of seven years’ imprisonment.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-30•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a licensing fee of VND 1,000,000 to finalize the issuance of securities practising certificates. Payment can be made via bank transfer or directly at the Commission, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Failure to collect the certificate within one year of the fee notice will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-30•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore will renew its loan commitment to the International Monetary Fund's New Arrangements to Borrow, extending the facility until 31 December 2030 for up to Special Drawing Rights 1,297.1 million (USD 1,762.8 million). This contingent loan serves as a backstop for the IMF, activated only if other resources are depleted, and does not impact Singapore's budget or Official Foreign Reserves. Singapore has participated in the NAB since 1998.
Policy & regulationCooperationLiquidity risk
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2025-06-30•Serbia•National Bank of Serbia
The National Bank of Serbia reported stronger industrial and export performance in May 2025, with industrial production up 4.4% year on year, driven by manufacturing growth of 7.0%. Retail trade turnover increased by 5.6% in May, while tourism indicators weakened. Goods exports rose by 17.3% year on year, contrasting with a 6.8% increase in imports.
Data & statisticsEconomic data and developmentsBalance of payments and other external statistics
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2025-06-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported a seasonal increase in housing lending for May 2025, with banks issuing EUR 219 million in housing loans, a 23% rise from the previous year. The growth is attributed to a recovery in real estate activity, declining Euribor, and a lower average housing loan interest margin. Loans now finance around 50% of housing transactions, up from the typical 40%, ahead of a VAT increase in July 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) reported BRL 385.7 million in fines for Q1 2025, with 10 Administrative Sanctioning Proceedings judged, resulting in 12 sanctions and eight acquittals. Seven proceedings were settled, and 865 cases are ongoing. The CVM issued 46 warnings, two stop orders, and referred 19 cases to prosecutors for potential criminal activity.
EnforcementEnforcement statistics
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2025-06-30•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission received an unmodified audit opinion from the Commission on Audit for its 2024 financial statements, marking its seventh in a decade. The audit confirmed the financial statements accurately reflect its position and performance per International Public Sector Accounting Standards. The Insurance Commissioner attributed this to the Commission's commitment to transparency, accountability, and fiscal prudence.
Institutional developmentOtherAuditing
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2025-06-30•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission has lifted the cease and desist order against Philippines International Life Insurance Company Inc. and released the insurer from conservatorship, effective 10 June 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-06-30•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission announced that former CIMB Investment Bank associate director Ruwan Amaresh Shaun Ponniah was sentenced to two years’ imprisonment and a MYR1 million fine for securities fraud involving MYR201,000. He also received a concurrent two-year sentence for unlicensed fund management. Ponniah pleaded guilty under the Capital Markets and Services Act 2007, with the offences occurring between October 2018 and June 2020.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-30•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia released a consultation paper proposing enhancements to the regulatory framework for Digital Asset Exchanges (DAXs) to boost competitiveness and strengthen investor protection. Key proposals include liberalising digital asset listings, enhancing client asset safeguarding and governance, and imposing stricter financial criteria for DAX operators. The SC highlighted a significant increase in trading value in 2024, indicating growing interest from capital market intermediaries and institutional investors.
Policy & regulationRules & requirementsFintech and insurtechMarket development
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2025-06-30•Albania•Albania Financial Services Authority
The Albania Financial Services Authority’s Board approved a new private pension fund, "Master Pension Fund," and licensed a public, open-ended investment fund, "Credins Dynamic," both managed by Credins Invest. Additionally, the Board endorsed internal IT security policies, reappointed the administrator and Supervisory Council members of Albsig Jete, and approved insurance agent activities.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia released the IMF Special Data Dissemination Standard disclosure detailing Malaysia's international reserves and foreign currency liquidity as of end-May 2025. Official reserve assets totaled USD119,598.3 million, with other foreign currency assets at USD955.2 million. Pre-determined short-term outflows over the next 12 months are USD13,431.9 million, with net short forward positions at USD24,188.9 million, excluding projected inflows from interest income and project-loan drawdowns.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Switzerland•Swiss National Bank
The Swiss National Bank has extended Project Helvetia, continuing the provision of wholesale central bank digital currency (CBDC) on the SIX Digital Exchange until mid-2027. The project will also expand to include settlement of tokenised assets using traditional central bank money via a real-time gross settlement link. This extension does not imply a commitment to permanently introduce wholesale CBDC.
Policy & regulationImplementation, projects & pilotsCBDCTokenization
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2025-06-30•Montenegro•Central Bank of Montenegro
Central Bank of Montenegro Governor Irena Radovic attended the BIS Annual General Meeting, addressing global economic challenges like trade tensions and policy calibration. Key topics included financial system digitisation, AI challenges, and market resilience. Radovic emphasized payments interoperability, highlighting Montenegro's initiative to launch a national instant payments platform with support from Banca d’Italia and the European Central Bank.
Policy & regulationImplementation, projects & pilotsCross-border paymentsArtificial intelligence
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Bravo Zulo Romeo Lending Corporation for operating an unauthorized lending business. The order followed complaints of abusive collection practices linked to its online platform, Magic Peso. The firm violated SEC Memorandum Circular No. 19, Series of 2019, by failing to disclose its online lending activities.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Magic Peso for operating an unregistered online lending platform and engaging in unfair debt collection practices. The SEC's action, dated June 24, mandates Magic Peso and its affiliates to halt all lending activities, citing violations of SEC Memorandum Circulars No. 19, Series of 2019, and No. 10, Series of 2021.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-30•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission launched its 2025 Sustainability Week with a programme on sustainable finance, focusing on the Philippine Sustainable Finance Taxonomy Guidelines. Co-organised with international bodies, the event featured contributions from Bangko Sentral ng Pilipinas and other financial institutions. A session with the United Nations Development Programme addressed sustainable investments for non-bank financial institutions, highlighting a capacity assessment and exploring investment opportunities in nature-based solutions.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-06-30•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority invites foreign reinsurers and brokers to apply for accreditation renewal for 2026, with current accreditations expiring on 31 December 2025. Renewal submissions require a signed application, financial documents, compliance confirmation, and payment of accreditation fees of USD 7,500 for brokers and USD 12,500 for companies. The Authority emphasized adherence to timelines for timely processing.
SupervisionAuthorisations & approvals
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2025-06-30•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority (IRA) has invited insurance fraud investigators to apply for renewal of their accreditation for 2026, as current accreditations expire on 31 December 2025. Applications require a signed IRA form, an active Uganda Police licence, 2024 audited financial statements, a business matrix with the Ugandan insurance industry, and proof of payment of a UGX 1,000,000 fee.
SupervisionAuthorisations & approvals
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2025-06-30•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has advised holders of Chaoprayamahanakorn Public Company Limited’s CMC257A bond to review all information and exercise their rights before the bondholders’ meeting on 4 July 2025. The agenda includes extending the bond’s maturity, adjusting repayment terms, and increasing the interest rate. The SEC mandates the bondholders’ representative to evaluate the implications of the proposed amendments.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-30•Global•ISDA
The International Swaps and Derivatives Association (ISDA) confirmed the enforceability of close-out netting under Saudi Central Bank (SAMA) regulations, enhancing legal certainty for derivatives trading with SAMA-supervised entities. The regulations, based on ISDA’s 2018 Model Netting Act, apply to banks and non-bank financial institutions, with ISDA planning to extend netting opinions to future Saudi Capital Market Authority regulations.
Policy & regulationGuidance & interpretationMarket infrastructure
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2025-06-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's Q2 2025 Economic Report highlights accelerated real GDP growth to 4.23% and eased headline inflation to 22.22% in June 2025, with moderate monetary expansion and improved external reserves at USD 37.81 billion. The oil sector rebounded sharply, contributing to a 15.02% rise in gross Federation Account receipts, while total public debt reached NGN 149,389.00 billion. The report anticipates slower global growth and further disinflation, with domestic risks including security concerns and foreign exchange pressures.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-06-30•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Royal Canadian Mounted Police's Integrated Money Laundering Investigative Team charged two individuals and one company with 29 counts of money laundering and fraud, involving over $40 million moved from the UAE to Canada. The investigation, supported by the Financial Transactions and Reports Analysis Centre of Canada, alleges the use of shell companies and third-party accounts to evade reporting requirements. Kevin Sarrafi faces 27 charges and will appear in court, while Saba Sarrafi and Canex Forex Ltd. face 29 charges, with a Canada-wide warrant issued for Saba Sarrafi.
EnforcementInvestigations & enforcement actionsAML and CFTFraud and scams
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2025-06-30•Europe•European Payments Council
The European Payments Council released version 4.0 of the Single Euro Payments Area Request-to-Pay Implementation Guidelines, detailing ISO 20022 XML message standards under the updated SEPA Request-to-Pay scheme rulebook. The guidelines include three documents covering message flows across various RTP Service Provider spaces, with changes from version 3.0 summarized in Section 4. The SEPA XML Schema Definitions are available, and the SRTP inter-PSP API specifications will be published soon.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-06-30•Hungary•National Bank of Hungary
The National Bank of Hungary's June Financial and Economic Review covers China's stakeholder capitalism, geoeconomic fragmentation in the Western Balkans, and AI in banking. It highlights China's economic transformation, regional trade patterns in the Balkans, and regulatory challenges in AI. Additional essays discuss gold investments, humanoid robots in banking, and the importance of accurate bank account classification.
ResearchClimate risk and sustainable finance
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2025-06-30•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Working Paper no. 99, "A Hedonic Housing Model for Macroprudential Policy," analyzes residential real estate data to develop a hedonic model for Iceland's multi-dwelling sales market, revealing an 8.8% quality difference between sold and rented apartments and a 3.7% accumulated bias in a CPI-deflated non-quality adjusted index over 2007–2024. The study identifies a time-varying new house premium and differing short-run dynamics in the hedonic price-to-building cost ratio.
ResearchMacroprudential policy and tools
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2025-06-30•Russia•Central Bank of Russia
The Central Bank of Russia released an interim report on the digital ruble pilot, highlighting early testing results and future development priorities. The pilot involved over 150 localities, with 2,500 wallets opened and 100,000 transactions completed, focusing on customer experience and security. The report also discusses consultations on the digital ruble's economic model and plans for expanded functionality, including e-commerce payments and support for businesses.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-06-30•United Kingdom•HM Treasury
HM Treasury will publish draft legislation for a new "targeted support" regime to enhance consumer confidence and decision-making in pensions. Concurrently, the Financial Conduct Authority (FCA) released draft rules to enable firms to better support consumers in investing and managing pensions. The initiative includes reviewing the regulatory boundary between financial advice and guidance as part of the government's workplace pension roadmap.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-06-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority revised its consumer finance framework, raising maximum upfront cash financing to EGP 50,000 from EGP 10,000, contingent on a creditworthiness assessment. New conditions include restrictions on repeat financing, mandatory digital data capture, and electronic payment methods for disbursements and instalments above specified thresholds. Consumer finance companies must secure prior approval from the authority to offer this product, ensuring compliance with updated requirements.
Policy & regulationRules & requirementsBNPL
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2025-06-30•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority approved the establishment of Bakra Real Estate Investment Fund and Bakra Investment Fund for Metals. It also granted new licenses or activity extensions to Tilda Securities Trading, Trend Holding for Financial Investments, and TrueFinance Financial Leasing. The committee's mandate includes incorporation, licensing, and supervisory approvals for non-banking financial services firms.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-30•Moldova•National Commission for Financial Markets
Moldova's Parliament adopted the National Capital Market Development Strategy 2025-2030, announced by the National Commission for Financial Markets. Developed by CNPF and promoted by the Ministry of Finance, the strategy focuses on expanding financing access, broadening the investor base, supporting SMEs, modernizing infrastructure, and aligning with EU standards. CNPF will oversee implementation and report progress semiannually and annually.
Policy & regulationReform agendas & prioritiesMarket development
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2025-06-30•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission’s Market Participants Division released FAQs to guide prospective futures commission merchants (FCMs) on registration and regulatory obligations. The document addresses the registration process, customer protections, governance, and other requirements, emphasizing the substantial resources needed to operate as an FCM.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-06-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway mandates that from 1 July 2025, firms report serious ICT-related incidents and significant cyber threats via Altinn forms KRT-3190 and KRT-3191, respectively, under the Digital Operational Resilience Act. Reporting is a staged process, allowing amendments to previously submitted data, and is restricted to organisations. A contingency Excel template is available if issues arise with Altinn.
Policy & regulationGuidance & interpretationCyber resilienceRegulatory reporting
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2025-06-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway has issued new guidance under the Digital Operational Resilience Act (DORA) for incident reporting and ICT service agreement notifications, effective 1 July 2025. Firms under DORA will be excluded from Norway's ICT regulation, now applying to financing, debt collection, and real estate companies. Revised Altinn forms and updated notification regulations reflect these changes, with specific guides for incident reporting and form completion.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-06-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam, led by Deputy Governor Nguyen Ngoc Canh, attended the 10th Annual Meeting of the AIIB Board of Governors in Beijing, focusing on green transition finance and private capital mobilisation. The delegation held bilateral discussions with AIIB and Chinese banking counterparts on bond investments and modern cross-border payment solutions. AIIB announced its next annual meeting will be in Doha, Qatar, in September 2026.
Policy & regulationCooperationOther
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2025-06-30•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's delegation, led by Deputy Governor Pham Thanh Ha, attended the 95th Annual General Meeting of the Bank for International Settlements in Basel, engaging in policy discussions and bilateral meetings. Key topics included global economic risks, financial digitalisation, and central bank challenges. They also met with the Central Bank of Brazil and the Reserve Bank of Australia to discuss organisational structures and regional cooperation.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-06-30•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) announced the appointment of four new board members: Chris Elgar, Lisa Dorian, Tina Meadows, and Lyle Viereck, effective June 30. The authority expressed gratitude to departing members Dr. Stanley Hamilton, Wilma van Norden, Gerald Matier, and Jo-Ann Hannah for their service.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-30•Zimbabwe•Securities & Exchange Commission of Zimbabwe
The Securities and Exchange Commission of Zimbabwe announced its 7th Annual General Meeting, detailing ordinary business and corporate reports for adoption, including the external audit report. Key agenda items include confirming previous meeting minutes, reviewing various operational and financial reports, and deciding on audit fees and auditor reappointment.
Institutional developmentGovernanceAuditing
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2025-06-30•United States•U.S. Securities & Exchange Commission
Dave A. Sanchez, Director of the SEC’s Office of Municipal Securities, discussed investor protection and market transparency in the municipal securities market. He emphasized correct terminology, urging municipal entities to ensure advisors are SEC-registered, and advocated for voluntary interim disclosures with cautionary language to address liability concerns.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-06-30•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) released its Semiannual Risk Perspective for Spring 2025, highlighting key risks and supervisory themes for the federal banking system. The OCC notes heightened economic uncertainty due to geopolitical risks, sustained higher interest rates, and shifts in consumer sentiment, with credit, market, operational, and compliance risks as primary concerns. The report underscores the need for robust interest rate risk analysis and highlights elevated operational and compliance risks amid evolving cyber threats and fraud.
SupervisionRisk monitoring & watch pointsCredit riskMarket risk and volatilityOperational risk and resilience
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2025-06-30•Malta•Malta Financial Services Authority
The Malta Financial Services Authority released research indicating limited knowledge and uptake of sustainable finance in Malta, despite growing interest. Over 70% of respondents were aware of sustainable finance, but only 58% could accurately describe it, and just a quarter had recently purchased sustainable products. The MFSA urged financial service providers to enhance transparency and align products with consumer knowledge levels.
ResearchClimate risk and sustainable finance
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2025-06-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for May 2025, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-06-30•Argentina•Argentina Securities Commission (CNV)
The Argentina Securities Commission (CNV) announced the first placement of a Financial Trust under its new regime for Financial Trusts with Automatic Authorisation for Frequent Issuances, as per General Resolution No. 1063. This resolution introduces two approval tracks for fiduciary securities, allowing exemptions from certain obligations to simplify and expedite issuance processes.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-30•Argentina•Argentina Securities Commission (CNV)
At the Rankia Institutional Experience 2025, Argentina Securities Commission (CNV) president Roberto E. Silva outlined the regulator's agenda for capital market normalization and transparency. Key initiatives include implementing Law No. 27.739 to enhance anti-money laundering and virtual asset service provider regulations, expanding "idóneos" examinations, and launching an audiovisual financial education series.
Policy & regulationRules & requirementsAML and CFTSupervision process and methodologies
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2025-06-30•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde published an Excel file detailing the main aggregated financial, prudential, and financial stability indicators of the Cape Verdean banking system, including balance sheet and income statement data as of December 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-30•Nepal•Central Bank of Nepal
The Central Bank of Nepal's Governor, Dr. Bishwanath Paudel, attended the 94th Annual General Meeting of the Bank for International Settlements, discussing cross-border payments, AI in central banking, and regulatory competitiveness. Meetings with BIS leadership and counterparts from the Reserve Bank of India and the People’s Bank of China focused on enhancing bilateral cooperation, payment systems, and foreign exchange reserve management.
Policy & regulationCooperationCross-border cooperationFinancial stability and systemic risk
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2025-06-30•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance, led by Minister Mohamed bin Hadi Al Hussaini and the Central Bank, participated in the 2025 Spring Meetings of the IMF and World Bank in Washington, D.C. Discussions focused on global economic priorities, fiscal and monetary policy, and financial resilience. The delegation attended high-level meetings and hosted a panel for Emirati students on employment in international financial organizations.
Policy & regulationCooperationMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-06-30•United Arab Emirates•Ministry of Finance (United Arab Emirates)
The UAE Ministry of Finance launched the "UAE Global Cadres" initiative to enhance awareness of international training and career opportunities for Emirati professionals and students. Targeting Emiratis in the UAE and abroad, the program will include workshops and sessions to build networks and gain exposure to best practices. It will be implemented with international financial institutions, leveraging the UAE's memberships in organizations like the World Bank Group and the Arab Monetary Fund.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-06-30•South Korea•Bank of Korea
The Bank of Korea's May 2025 interest rate statistics reveal a decline in average rates for new deposits and loans. New deposit rates fell to 2.63%, an 8 basis point decrease, while new loan rates dropped to 4.17%, a 2 basis point decrease. Rates on outstanding balances also decreased, with deposit rates at 2.23% and loan rates at 4.42%.
Data & statisticsMonetary data
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2025-06-30•India•Securities & Exchange Board of India
The Securities and Exchange Board of India has authorized registered intermediaries to utilize the National Payments Corporation of India's e-KYC Setu System for Aadhaar-based e-KYC authentication. This provides an alternative mechanism for digital Know Your Client verification in the securities market, complementing existing services by the Unique Identification Authority of India.
Policy & regulationRules & requirementsKYC
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a Q1 2025 current account deficit of USD 1,020.50m, representing 25.8% of GDP, driven by a significant goods trade deficit. Imports rose 23.1% while exports fell 13.3%, contributing to the wider deficit. Gross external debt increased to USD 10,517.15m, with public debt accounting for 41.3% of the total.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a Q1 2025 current account deficit of USD 1,020.50 million, a capital account surplus of USD 12.74 million, and net financial account inflows of USD 901.07 million. The current account deficit was 2.3 times higher than Q1 2024, with a deficit-to-GDP ratio of -25.8 per cent. Gross external debt increased by 3.0 per cent to USD 10,517.15 million, representing 57.4 per cent of GDP.
Data & statisticsBalance of payments and other external statistics
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported on the liquidation progress of Banca de Economii S.A., BC “BANCA SOCIALĂ” S.A., and B.C. “UNIBANK” S.A., noting cash collections of MDL 2.99bn since 2015. In Q2 2025, cash inflows were MDL 3.4m, with asset sales totaling MDL 46.1m. Outstanding state-guaranteed emergency loans remain at MDL 11.25bn, with no repayments in Q2 2025, while ongoing recovery efforts include 35 court actions and 65 criminal cases.
SupervisionInterventionsRecovery and resolution
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova is drafting a new law to enhance securities settlement and central securities depositories, replacing Law No. 234/2016. This initiative aims to fully transpose Regulation (EU) No 909/2014, aligning Moldova's post-trade infrastructure with international standards to improve safety and efficiency.
Policy & regulationRules & requirementsMarket infrastructure
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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova reported a 3.0% increase in Moldova’s gross external debt in Q1 2025, reaching USD 10,517.15 million, or 57.4% of GDP. Public external debt rose by 0.8% to USD 4,343.26 million, while private external debt increased by 4.6% to USD 6,173.89 million.
Data & statisticsBalance of payments and other external statistics