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2025-06-30•Moldova•National Bank of Moldova
The National Bank of Moldova announced its 2025 expenditure budget and investment allocations, with operating expenses set at MDL 657.333 million and investment spending at MDL 177.907 million. The Supervisory Board approved these under Decision No. 39 of 16 December 2024, with corrections under Decision No. 41 of 05 December 2025. The investment includes MDL 87.595 million for new multiannual projects, with MDL 62.728 million payable.
Institutional developmentGovernanceProcurement
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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 larger than Q1 2024, with a deficit-to-GDP ratio of -25.8%. The capital account surplus decreased by 21.9% year on year, while financial account net inflows were due to a decline in residents’ external financial assets and an increase in liabilities to non-residents.
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 provisional first-quarter 2025 international investment position with a net liability of -USD 6,037.33 million, an 8.0% increase from end-2024. The investment position-to-GDP ratio rose to 33.0%, while external financial assets decreased by 0.7% to USD 8,169.69 million and external liabilities increased by 2.8% to USD 14,207.02 million. These figures are detailed in Statistical Bulletin No. 2/2025 and available in the Bank's interactive tables.
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 released its audited standalone and consolidated financial statements for 2024, confirming compliance with International Financial Reporting Standards. The auditor affirmed the financial statements accurately reflect the bank's and group's financial position and performance, consistent with the 2024 Annual Report under Law No. 287/2017.
Data & statisticsActivity and performance reporting
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2025-06-30•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury amended the Value Added Tax Act 1996 and Regulations 1996 to increase penalties for late VAT payments and allow deadline extensions for final VAT returns upon business de-registration. From 31 July 2025, penalties include 3% of unpaid VAT if not paid within 15 days, an additional 3% at 30 days, and 10% for amounts unpaid after 30 days. These changes align Isle of Man VAT rules with the United Kingdom under the Customs and Excise Agreement 1979.
Policy & regulationRules & requirementsOther
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2025-06-30•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released a report evaluating how European (re)insurers address biodiversity-related risks, finding current practices are nascent with significant limitations in metrics and modelling. Biodiversity is often considered qualitatively and primarily through a reputational lens, with challenges in distinguishing it from climate-related risks. EIOPA plans further stakeholder engagement to enhance data, models, and risk-based measures, and to explore biodiversity-climate interactions and nature-based adaptation benefits.
SupervisionRisk monitoring & watch pointsNature-related risk
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2025-06-30•Europe•Single Resolution Board
The Single Resolution Board's 2024 Annual Report outlines the SRM Vision 2028 strategy, focusing on testing banks' resolvability and operationalizing resolution strategies. It highlights collaboration with National Resolution Authorities on crisis readiness and notes that the Single Resolution Fund did not raise contributions in 2024 after reaching its target. The report will be presented to the European Parliament’s Economic and Monetary Affairs Committee in July.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-06-30•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas' May 2025 report shows moderated domestic growth from slowed tourism and flat inflation. Banking liquidity improved with more deposits, but external reserves fell due to higher net foreign currency outflows. The Bank will maintain an accommodative stance on private sector credit while monitoring foreign exchange to support reserves and stability.
Data & statisticsEconomic data and developments
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2025-06-30•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank (ECCB) released its 2024-2025 Annual Report, highlighting achievements in monetary stability, financial inclusion, and governance of Citizenship by Investment Programmes. The ECCB reported a record net profit of EC$126.2 million and growth in foreign reserves. Key initiatives include the Banking Amendment Bill (2024) for market conduct regulation and the establishment of the Eastern Caribbean Financial Standards Board as an integrated regulator for the non-bank financial sector.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic riskFinancial inclusion
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2025-06-29•Israel•Bank of Israel
The Bank of Israel's Composite State of the Economy Index rose by 0.11% in May, reflecting slower growth than the long-term average, with increases in goods exports and job vacancies offset by declines in imports and services. The Bank also revised previous months' data, adjusting April to -0.16%, March to 0.15%, February to 0.02%, January to 0.10%, and December to 0.82%.
Data & statisticsEconomic data and developments
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2025-06-29•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) reported early usage of the eMPF Platform, processing nearly 600,000 administrative instructions since its June 2024 launch, with 80% submitted electronically. Key features include digital management of MPF tasks, a notification function for employer contributions, and a consolidated dashboard for MPF holdings. Trustees will temporarily suspend certain administrative processes during onboarding, with service suspensions typically scheduled on public holidays or weekends.
Policy & regulationImplementation, projects & pilotsOther
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2025-06-29•Laos•Bank of the Lao
The Bank of the Lao PDR participated in the 2025 Youth Festival, showcasing its work on banking-sector rules and foreign exchange market information. The exhibition included materials on banking laws, banknote management, and foreign currency exchange, with interactive Q&A sessions.
Financial literacy & educationOther
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2025-06-29•Global•Bank for International Settlements
The BIS Annual Economic Report 2025 warns that trade tensions and policy uncertainty weaken growth prospects and increase inflation risks. It urges policymakers to stabilize economies through price stability and structural reforms. The report highlights vulnerabilities like economic fragmentation, high public debt, and rapid international transmission of financial conditions, calling for stringent regulation of financial stability risks.
ResearchEconomic data and developmentsFinancial stability and systemic risk
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2025-06-29•Qatar•Qatar Central Bank
Qatar Central Bank announced that Himyan cardholders can now use Apple Pay, enabling iPhones to function as Himyan cards for secure and private payments.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-29•Mexico•CONDUSEF
Mexico's CONDUSEF reported 3,760 complaints in Veracruz from January to May 2025, an 8.5% increase from 2024. Debit cards, credit cards, and personal loans were the most complained-about products, with threats in debt collection and unrecognised transactions as leading causes. Multiple banking accounted for 59.4% of complaints, with significant issues involving older adults and potential fraud.
Data & statisticsComplaints and dispute resolution
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2025-06-29•Hungary•National Bank of Hungary
At the Bank for International Settlements conference, Hungary's Governor Mihály Varga highlighted geopolitical and trade tensions as threats to the European and global economic outlook, potentially reigniting inflation in Hungary. He emphasized international monetary policy cooperation and projected Hungary's GDP growth to improve, with inflation returning to the 3% target by 2027. Varga also discussed enhancing cooperation with Azerbaijan's central bank on knowledge sharing and financial digitalization.
Monetary policyMonetary policy assessments & outlooksGeopolitical risk
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2025-06-28•Peru•Central Bank of Peru
The Central Reserve Bank of Peru reported a 9.6% year-on-year increase in private sector liquidity in May, reaching PEN 511,372 million. Sol-denominated liquidity rose 11.0% year on year to PEN 366,511 million. Currency in circulation grew 14.6%, while savings and demand deposits increased 19.1% and 12.0%, respectively, with time and CTS deposits declining.
Data & statisticsMonetary data
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2025-06-28•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Legal Department's Party Cell reviewed past achievements and outlined the 2025–2027 work programme at its 21st congress. Key topics included the Legal Department's advisory role in monetary and banking law, amendments to the Law on Credit Institutions, and internal reforms. The National Assembly has adopted these amendments, with the Government set to guide implementation, and the new programme will incorporate Resolution 66-NQ/TW on lawmaking renewal.
Institutional developmentLeadership change & appointmentsOther
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2025-06-27•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has updated its Questions and Answers on several regulations, including the Prospectus Regulation concerning historical financial information, the Markets in Crypto-Assets Regulation regarding custody agreements and commingling of crypto-assets, and the Undertakings for Collective Investment in Transferable Securities Directive on cross-border marketing notification letters.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-06-27•Europe•European Securities and Markets Authority
The European Supervisory Authorities, including the European Securities and Markets Authority, have initiated a public consultation on draft Joint Guidelines for ESG stress testing as mandated by the Capital Requirements Directive and Solvency II Directive. The guidelines aim to harmonize ESG risk integration in supervisory stress tests across the EU, detailing methodologies, standards, and governance arrangements. The framework emphasizes proportionality and supports future methodological and data enhancements.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-06-27•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued Operational and Services External Circular DSP-155, detailing fees for low-value payment systems managed by Banco de la República.
Policy & regulationRules & requirementsPayments and payment systems
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2025-06-27•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority suspended trading in Agfa-Gevaert's financial instruments on Euronext Brussels at the company's request from 27 June 2025 at 13:30 CET. The suspension will remain until a press release is issued.
SupervisionInterventionsTrading
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2025-06-27•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the reopening of trading for Agfa-Gevaert financial instruments on Euronext Brussels under Article 78 of the Law of 21 November 2017. Trading will resume on 27 June 2025 at 14:30 CET.
SupervisionAuthorisations & approvalsTrading
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2025-06-27•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported a net external position of EUR 30 billion for Q1 2025, with declines in both external financial assets and liabilities. External assets fell by EUR 29.5 billion to EUR 12,838 billion, while liabilities decreased to EUR 12,809 billion. Direct and portfolio investments were impacted by negative price and exchange rate effects, with notable decreases in foreign securities holdings and increases in Luxembourg securities held abroad.
Data & statisticsBalance of payments and other external statistics
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2025-06-27•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Fundo Eaglestone Infrapower I Angola, a closed-end venture capital fund by Eaglestone Capital. The fund aims to invest in companies in Angola focusing on infrastructure, energy, environment, and transport sectors.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Standard Valor, an open-ended special securities investment fund offered by public subscription. Promoted by Standard Gestão de Activos, the fund aims to provide access to a diversified portfolio through active management and strategic asset allocation.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) has initiated a market consultation to simplify the listing process for investment funds in Italy and align national rules with EU standards. Key proposals include removing the requirement for a specific listing document for European UCITS and open-ended reserved AIFs managed by EU companies, and amending the regulatory template for prospectus information.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-27•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia reported a significant increase in virtual asset activity, with transaction volumes rising from USD 46.5 million in early 2024 to USD 294 million in early 2025. Financial system data indicates a 12-fold increase in virtual asset transactions since July 2024, totaling BOB 611 million by May 2025. The bank highlighted ongoing educational efforts and the government's Supreme Decree No. 5384, establishing a regulatory framework for fintech companies and virtual assets.
Data & statisticsFintech and insurtechSupervision process and methodologies
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2025-06-27•Botswana•Bank of Botswana
The Bank of Botswana has granted credit bureau licences under the Credit Information Act, 2021 to Transunion Proprietary Limited, Micro-Finance Credit Bureau Proprietary Limited, and Credbase Credit Bureau. These licences allow the bureaux to manage consumer credit information, develop credit rating systems, and conduct market research, ensuring compliance with the Credit Information Act, 2021 and the Data Protection Act, 2024. Operating without a licence is a criminal offence, and individuals can access and correct their credit information.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Botswana•Bank of Botswana
The Bank of Botswana clarified that commercial banks did not breach regulations by raising prime lending rates (PLRs) in 2025, as PLR setting was liberalized in April 2023. The Bank emphasized that PLR increases should reflect competitiveness and reasonableness, warning against excessive rises that could undermine its accommodative monetary policy. It also announced measures to address liquidity constraints, including extending repurchase agreement tenors to one month.
Monetary policyMonetary policy instruments & operationsMonetary policy decisions and developments
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2025-06-27•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance has instructed microfinance services coordinators to enhance monitoring and enforcement of the microfinance policy and legal framework. This directive follows a capacity-building programme aimed at improving coordinators' supervisory capabilities and legal compliance. Coordinators are required to submit quarterly implementation reports and collaborate with various local officers.
SupervisionSupervision approach, priorities & toolkitFinancial inclusion
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2025-06-27•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved amendments to regulatory acts affecting collective investment activities and personal data protection. It issued decisions including a ban on transactions for PrJSC Universam Kyiv and registered share issues for several entities. Additionally, the Commission made supervisory amendments and approved key appointments across market participants.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-27•Peru•Central Bank of Peru
The Central Bank of Peru reported a 5.9% year-on-year increase in mortgage credit for home purchases in May, reaching PEN 72,102 million, driven by stronger domestic currency lending. Soles-denominated mortgage credit rose 6.9% year on year, while US dollar mortgages remained at 6.7% of total mortgage credit, reflecting reduced household exposure to exchange-rate risks.
Data & statisticsLending
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2025-06-27•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia attended a meeting with commercial banks, organized by the Georgian Bankers’ Association, to discuss banking-sector issues such as access to finance, regulatory developments, and strategic priorities. Key topics included open banking regulations, banking competition, and the Law on Payment System and Payment Services, with a focus on consumer rights protection.
Policy & regulationCooperationDomestic cooperation
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2025-06-27•United States•National Credit Union Administration
The Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration, with Financial Crimes Enforcement Network's concurrence, exempt banks and credit unions from obtaining a taxpayer identification number (TIN) directly from customers before account opening. This allows third-party methods for TINs, offering flexibility due to evolving consumer access and data breach concerns. The Customer Identification Program rule remains unchanged, requiring risk-based procedures to verify identities.
Policy & regulationGuidance & interpretationKYC
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2025-06-27•China•Central Bank of the Republic of China
The People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission have released the Green Finance Supported Projects Catalogue (2025 edition), updating China's green finance taxonomy. This catalogue aims to enhance market liquidity and reduce identification costs by standardizing eligible projects across green finance products, excluding stock listings and equity issuance on major Chinese exchanges. Transition rules allow certain legacy standards to persist, with issuers encouraged to align disclosures with the new catalogue, effective 1 October 2025.
Policy & regulationRules & requirementsGreen taxonomy
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2025-06-27•Latvia•Ministry of Finance (Latvia)
Latvia's Ministry of Finance released a report proposing measures to boost capital market development and facilitate IPOs for state and municipal companies. The report highlights strong growth in bond issuance and rising retail participation in savings bonds but notes limited IPO plans for state-owned enterprises. Proposed reforms include engaging in EU discussions on an Investment and Savings Union, revising tax rules, and considering a Real Estate Investment Trust (REIT) regime.
Policy & regulationReform agendas & prioritiesMarket development
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2025-06-27•Australia•Australian Securities & Investments Commission
ASIC's Report 810 reviews the small business restructuring process from 2022 to 2024, noting a rise to 3,388 appointments from 82 previously. The process aids distressed small companies, with no misuse evidence. Construction and Accommodation and Food Services sectors made up 50% of appointments. ASIC will keep monitoring the regime.
SupervisionReviews, inspections & stress testsOther
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2025-06-27•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) accepted a court enforceable undertaking from David Makowa of DM Advisory Services due to significant audit quality issues. Makowa will surrender his company auditor registration and never re-apply. He admitted to inadequately conducting audits for Brite Advisors Pty Ltd from FY19 to FY22, failing to meet Australian Auditing Standards. This action is part of ASIC's ongoing investigation into Brite Advisors. The undertaking will be recorded on ASIC’s register.
EnforcementInvestigations & enforcement actionsAuditing
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2025-06-27•Australia•Australian Securities & Investments Commission
ASIC has initiated legal proceedings in the Supreme Court of New South Wales against Liberty Primary Metals Australia, Tahmoor Coal, and Liberty Bell Bay for failing to lodge required annual financial reports. Liberty Primary Metals Australia and Tahmoor Coal have not submitted reports for 2024, while Liberty Bell Bay has outstanding reports for 2021 to 2024. A directions hearing is scheduled for 7 July 2025.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-06-27•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has eased breach-reporting obligations for financial services and credit licensees. Key changes include extending the investigation reporting threshold from 30 to 60 days and recognizing breach reports submitted to APRA as lodged with ASIC. Exemptions apply to certain breaches rectified within 60 days, affecting up to 10 consumers, with losses under AUD 1,000. Broader legislative changes are deferred to the Government.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-27•Europe•European Banking Authority
The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority have initiated a public consultation on draft Joint Guidelines for ESG stress testing. The guidelines aim to harmonize supervisory stress test approaches across the EU by integrating environmental, social, and governance risks, proposing a common framework for methodologies and standards. The guidance targets competent authorities without imposing new requirements for conducting ESG-focused stress tests.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-06-27•Europe•European Banking Authority
The European Banking Authority's Spring 2025 Risk Assessment Report shows EU/EEA banks are resilient in capital, liquidity, and profitability but face rising vulnerabilities due to geopolitical developments and market volatility. It highlights robust capital bases and high profits, yet warns of challenges from increased uncertainty and financial market volatility. Key risks include credit exposures to sectors impacted by tariffs and supply chain disruptions, rising operational risks from cyber threats, and climate-related risks affecting banks' exposures.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskGeopolitical risk
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2025-06-27•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) issued Circular CSSF 25/894, updating requirements for Luxembourg-established investment fund managers (IFMs) managing non-authorised funds. The circular mandates IFMs to notify the CSSF of their management of European UCITS and AIFs via a dedicated eDesk procedure, expanding the required dataset to include additional details on the fund’s service providers.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-06-27•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) issued Policy Statement PS25/7, announcing the decommissioning of two data returns and removing an event-driven notification requirement under its Transforming Data Collection programme. Effective 27 June 2025, the changes include removing FSA039, Section F of the Retail Mediation Activities Return, and Form G, with estimated annual cost savings of GBP 1.3 million for the industry. The FCA also highlighted further proposals in its June Quarterly Consultation Paper CP25/16 and related work on complaints reporting in CP25/13.
Policy & regulationRules & requirementsRegulatory reporting
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2025-06-27•Portugal•Portuguese Insurance Regulator (ASF)
The Portuguese Insurance and Pension Funds Supervisory Authority (ASF) convened its Consultative Council to review the 2024 Report on Regulation and Supervision of Market Conduct. The report serves as a transparency tool, detailing ASF's supervisory activities on market conduct and interactions between entities and consumers.
SupervisionOtherSupervision process and methodologies
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2025-06-27•Laos•Bank of the Lao
The Bank of the Lao and the SEACEN Research and Training Centre conducted a training programme in Vientiane on "Analysis and Modelling of Macro-Financial Linkages." The course aimed to enhance central bank staff's ability to analyze macroeconomic and financial system developments, covering growth, inflation, credit dynamics, and financial stability metrics. Experts led sessions for 30 participants from 11 SEACEN member central banks.
Institutional developmentCooperation & capacity buildingMacroprudential policy and toolsFinancial stability and systemic risk
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2025-06-27•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority has released two Approach documents detailing its assessment of general insurance complaints, focusing on non-disclosure, misrepresentation, and the duty to take reasonable care not to misrepresent, reflecting legislative changes to the Insurance Contracts Act 1984 effective from 2021.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-06-27•United Kingdom•Financial Conduct Authority
The UK Financial Conduct Authority secured a guilty plea from John Burford for operating an unauthorised investment scheme that defrauded investors of over £1 million. Burford, as director of Financial Trading Strategies Limited, misled over 100 investors through a subscription service and unapproved fund management. Sentencing is set for 5 September 2025, with the FCA seeking confiscation orders to recover funds.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-06-27•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau and the Securities and Futures Commission have initiated a public consultation on licensing digital asset dealing and custodian service providers. The framework mandates SFC licensing for businesses offering digital asset services, covering activities from conversions to brokerage and custody. The SFC will set regulatory standards, with the Hong Kong Monetary Authority overseeing banks and stored value facilities, ensuring compliance with fit-and-proper criteria and investor protection measures.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-27•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong announced the reappointment of Ms Connie Lau Yin-hing as Chairperson of the Hong Kong Deposit Protection Board for a three-year term starting 1 July 2025. Mrs Helen Kan Ng Chau-yuk and Professor Darwin Choi have been appointed as new members, while Mr Andrew Mak Yip-shing has been reappointed. The appointments, made under the Deposit Protection Scheme Ordinance, were gazetted, with outgoing members Professor Chan Koon-hung and Professor Matthew Lee Kwok-on departing after six years.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) trained 100 representatives from 11 savings and credit cooperatives in Ayacucho and Apurímac to enhance financial education and cooperative system understanding. Led by SBS Superintendent Sergio Espinosa Chiroque, the program covered personal finance, credit use, consumer rights, and risk management. Ayacucho hosts the highest cooperative presence, with 222,000 members and deposits nearing PEN 1 billion.
Policy & regulationImplementation, projects & pilotsFinancial literacy and education
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2025-06-27•Hong Kong•Hong Kong Securities & Futures Commission
Hong Kong's Financial Services and the Treasury Bureau and the Securities and Futures Commission have initiated a consultation on regulatory regimes for virtual asset dealing and custodian services. The proposals aim to empower the SFC to license, supervise, and enforce standards, ensuring investor protection and market integrity. This aligns with the SFC's ASPIRe roadmap and the Government's Policy Statement 2.0 on digital asset development.
Policy & regulationRules & requirements
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2025-06-27•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority has introduced electronic forms to assist entities in complying with notification requirements under Prudential Standard CPS 230 Operational Risk Management. These forms address notifications for operational risk incidents, breaches of critical operation tolerance, and new or changed material arrangements or offshoring. They are accessible on APRA’s website.
Policy & regulationImplementation, projects & pilotsOperational risk and resilience
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2025-06-27•France•Bank of France
The Bank of France announced the winners of its seventh microcredit awards, recognizing Élodie Miesch and Farshad Ahmadi for personal and professional projects, respectively. Miesch received a EUR 2,000 loan for a vehicle, while Ahmadi secured EUR 3,800 for a mobile catering bike kitchen. The awards highlight social microcredit as a support tool for individuals facing difficulties.
OtherSME financing
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2025-06-27•France•Bank of France
The Bank of France’s Observatory for Banking Inclusion reported improvements in financial inclusion indicators for 2024, while highlighting the need for vigilance on household financial difficulties. The report noted a 6.3% increase in financially fragile customers and a 10.8% rise in overindebtedness filings, despite a long-term decline. It recommends lenders consult the National File of Consumer Credit Repayment Incidents before granting credit and anticipates tighter regulation of mini-loans and instalment payments.
ResearchFinancial inclusion
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2025-06-27•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to banks like The Bank of East Asia, Shanghai Commercial Bank, Chong Hing Bank, and Welab Bank. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks 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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2025-06-27•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) assessed Oman’s observance of Insurance Core Principles, noting compliance with most principles as Observed or Largely Observed. The review highlights Oman’s Financial Services Authority's regulatory advancements, including risk-based capital requirements and enhanced insurer supervision. The IAIS has completed five Member Assessment Programmes since 2019, with Costa Rica's evaluation set for mid-2026.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2025-06-27•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 Arman Galiaskarovich Dunaev as Chair of the Board of Directors of Halyk Bank JSC and Vladimir Bronislavovich Yun as Deputy Chief Accountant.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-06-27•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 Kymbat Mukhamedrakhimovna Trakpanova as chief accountant of JSC BCC Invest, a subsidiary of JSC Bank CenterCredit, as per protocol letter No. 248/RCB dated 23 June 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority updated its AML/CFT Handbook to include the Isle of Man Government’s National Risk Appetite Statement (NRAS). The NRAS addresses risks in the eGaming sector and related industries, particularly concerning serious and organised crime in East and Southeast Asia. The Handbook now includes links to NRAS FAQs and revised Business Risk Assessment guidance.
Policy & regulationGuidance & interpretationAML and CFT
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced a sanctions update from the Isle of Man Treasury’s Customs and Immigration Division, covering ISIL (Da’esh) and Al Qaida, Global Anti-Corruption, and Russia sanctions regimes. Regulated firms are directed to the Treasury’s Sanctions and Export Control webpage for current notices and subscription options for ongoing updates.
Policy & regulationGuidance & interpretationSanctions list update
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2025-06-27•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has launched a public consultation on a draft Financial Services (Miscellaneous Provisions) Bill to amend existing legislation for better alignment with international standards. The revisions target the Collective Investment Schemes Act 2008, Designated Businesses (Registration and Oversight) Act 2015, Financial Services Act 2008, and Insurance Act 2008, focusing on consumer protection, financial crime reduction, and efficient regulation.
Policy & regulationRules & requirementsAML and CFTRegulatory burden
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2025-06-27•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan, supported by the Asian Development Bank, published a survey on financial inclusion and literacy under the “Inclusive Financial Sector Development Program”. The study assessed the impact of measures from 2021 to 2023 on access to financial services, using methodologies from the World Bank Findex and OECD. Data was collected from 1,200 respondents and 198 participants across various regions, focusing on financial service usage, behavior, and literacy.
ResearchFinancial inclusionFinancial literacy and education
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2025-06-27•United States•Federal Reserve Bank of Boston
Federal Reserve Bank of Boston President Susan M. Collins discussed economic outlook and infrastructure's role in economic vitality during her visit to southeastern Massachusetts. The visit highlighted the new South Coast Rail service's impact on regional growth and travel patterns. Discussions also addressed affordable housing shortages and workforce training opportunities, including Cape Cod Community College's Aviation Maintenance Technology program.
Other
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2025-06-27•Liechtenstein•Liechtenstein Financial Market Authority
The Liechtenstein Financial Market Authority released its Q2 2025 macroprudential supervision update, evaluating national economic developments with an emphasis on international financial markets.
SupervisionRisk monitoring & watch pointsMacroprudential policy and toolsFinancial stability and systemic risk
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2025-06-27•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) announced the suspension of three 2025 decrees affecting the Tax on Financial Transactions (IOF), reverting to the 2007 framework. This reinstates a 0% IOF rate for transactions funding life insurance plans with survival coverage, including Vida Gerador de Benefício Livre (VGBL) plans, as per Decree 6.306/2007.
Policy & regulationRules & requirementsTax transparency and information exchange
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2025-06-27•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina, led by Governor Jasmina Selimovic, met with an International Monetary Fund mission to discuss economic trends, central bank independence, and currency board sustainability. Discussions included financial sector stability, banking reform, and EU accession negotiations. The IMF expressed readiness to support through technical assistance and advisory work.
Policy & regulationCooperationOther
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2025-06-27•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina (CBBH) hosted a meeting with Sweden’s Ambassador, Helena Lagerlöf, discussing economic trends, monetary stability, and European integration. Ambassador Lagerlöf supported Bosnia and Herzegovina’s reforms and the central bank's independence, emphasizing institutional stability for EU integration. Both parties committed to enhancing cooperation between the CBBH and Swedish institutions.
Policy & regulationCooperationCross-border cooperation
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2025-06-27•South Africa•South African Reserve Bank
The South African Reserve Bank released a data story detailing the initial economic impacts of South Africa's "two-pot" retirement system, as outlined in its latest Quarterly Bulletin. The reforms divide retirement contributions into an accessible savings pot and a retirement pot locked until cessation of work. Key effects include increased tax revenue and insights into withdrawal patterns and retirement fund implications.
ResearchOther
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines announced the merger of MANOR Bank – A Rural Bank Corp. with Rural Bank of Casiguran (Aurora), Inc., effective 2 June 2025, with MANOR as the surviving entity. The Securities and Exchange Commission approved the merger on 29 April 2025, facilitating the transfer of all assets and liabilities to MANOR.
SupervisionAuthorisations & approvalsOther
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2025-06-27•Global•International Banking Federation
The International Banking Federation (IBFed) supports the ISSB standards as a global baseline but requests changes to reduce operational burdens. IBFed agrees with excluding certain emissions from Scope 3 Category 15 disclosures but opposes requiring quantitative information on excluded activities due to cost concerns. It supports flexibility in industry classification systems and recommends additional guidance for jurisdictional relief on the Greenhouse Gas Protocol Corporate Standard.
Policy & regulationInternational standards & recommendationsAccounting and financial reporting
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2025-06-27•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) revamped oversight of closed supplementary pension entities (EFPC) under Resolution PREVIC 23/2023, reinstating risk-based supervision and introducing the "regular management act" for standardized inspections. The new model uses an Annual Inspection Program based on a risk matrix, size, and complexity, replacing less transparent criteria. PREVIC aims to guide and solve problems while retaining disciplinary powers, with the Federal Court of Accounts incorporating the "regular management act" into its standards for legal certainty.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-06-27•Sint Maarten & Curacao•Central Bank of Sint Maarten & Curacao
José Jardim will step down as Financial Economic Director of the Central Bank of Sint Maarten & Curacao on 30 June 2025 to join a commercial bank. CBCS President Richard Doornbosch and Executive Director Leila Matroos-Lasten will temporarily assume his duties while a recruitment process is underway.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines (BSP) has introduced a new Residential Property Price Index (RPPI) to replace the previous index, offering a more reliable measure of housing price trends. The RPPI uses a hedonic regression approach, incorporating property-specific characteristics and actual acquisition costs, and expands coverage to include new, pre-owned, and foreclosed houses. BSP applied this method retrospectively to data from Q1 2019 to Q4 2024, resulting in more stable index values and growth rates.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released the Q2 2025 Consumer Expectations Survey, showing a decline in the consumer confidence index to -14.0% from -13.0% in Q1, driven by concerns over inflation, income, and job opportunities. Despite the negative current-quarter index, future indices are positive, suggesting improved expectations. Households anticipate inflation to stay within the government's target range over the next year, aiding monetary policy formulation.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines released its second-quarter 2025 Business Expectations Survey, showing cautious yet softened business sentiment with the confidence index dropping to 28.8% from 31.2% in the previous quarter. Concerns include reciprocal tariffs on U.S. exports, post-midterm election slowdown, and inflation expectations within the government's target range. The survey, conducted with 1,527 firms, serves as input for monetary policy formulation.
Data & statisticsEconomic data and developments
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2025-06-27•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a slowdown in residential property price growth, with the Residential Property Price Index (RPPI) rising 7.6% year-on-year in Q1 2025, down from 9.8% in Q4 2024. The National Capital Region (NCR) drove the increase, recording a 13.9% rise, while areas outside the NCR saw a 3.0% increase. Condominium prices rose 10.6% year-on-year, and house prices increased 4.5%.
Data & statistics
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2025-06-27•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on four websites, instructing their blocking by Italian providers. This action is part of IVASS's ongoing efforts, with 254 sites blocked since November 2023. IVASS advises consumers to verify the authorization of firms and intermediaries before paying premiums, especially for temporary motor third-party liability policies.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-27•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that the High Court ordered former CBL Group CFO Carden Mulholland to pay a pecuniary penalty of NZD 641,250 and costs of NZD 606,216.53 for breaches of continuous disclosure requirements under the Financial Markets Conduct Act 2013. Mulholland was found liable for disclosure failures affecting regulatory solvency and reserve requirements, with related proceedings against CBL Corporation Limited and its directors resulting in penalties of $11.28 million.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-06-27•Seychelles•Central Bank of Seychelles
The Central Bank of Seychelles' Financial Stability Committee released its 2024 Financial Stability Report, highlighting the resilience of the financial sector, with improved banking performance and asset quality. The report notes increased insurance claims due to December 2023 disasters and ongoing AML/CFT risk management efforts. It emphasizes the FSC's focus on enhancing the financial stability framework from a governance perspective.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-06-27•Serbia•National Bank of Serbia
The National Bank of Serbia reported growth in payment card issuance and card-based retail purchases in Q1 2025, with 12.4 million cards issued, a 6.3% increase year-on-year. Card purchases in Serbia rose by 15.9% year-on-year, totaling 175.7 million transactions. The number of POS terminals increased by 21.2% to over 170,000, while the ATM network expanded by 4.2% to 3,219 machines.
Data & statisticsPayments and payment systems
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2025-06-27•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission announced measures to curb household debt in Seoul by reducing annual lending targets and tightening mortgage, jeonse, and credit loan constraints. Actions include halving financial companies' household loan targets, capping purchase mortgages at KRW600 million, and imposing stricter loan-to-value (LTV) ratios. The measures will be implemented immediately, with supervisors monitoring compliance and potential further regulatory actions.
Policy & regulationRules & requirementsLendingMacroprudential policy and tools
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2025-06-27•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released its insurance market update for January to May 2025, noting a 7.60% increase in gross written premiums to ALL 10,075 million and a 9.29% rise in insurance contracts. Non-life insurance dominated with a 90.58% share, while motor insurance accounted for 75.79% of gross paid claims, totaling ALL 2,504 million. Compulsory motor premiums increased by 13.03% to ALL 6,043 million, with voluntary insurance premiums up by 0.37%.
Data & statisticsFinancial and market indicators
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,132 examines firm-level borrowing constraints by analyzing interest rate spreads and capital-to-debt ratios among UK firms. Findings indicate intangible assets are less effective than tangible collateral in easing debt-market frictions, leading to tighter financing conditions for firms with higher intangible intensity. The research suggests increased intangible intensity correlates with higher financing costs and greater reliance on short-term debt.
ResearchPrudential risksCorporate governance
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,133 examines how inflation uncertainty affects UK households' consumption and saving. A randomized controlled trial shows reduced inflation uncertainty boosts planned spending and expected income, decreasing precautionary saving. Households view inflation as supply-side driven, with notable spending responses among non-hand-to-mouth and university-educated individuals.
Research
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2025-06-27•United Kingdom•Bank of England
The Bank of England's Staff Working Paper No. 1,131 introduces a global index of exchange rate "fixity" to reassess trends in exchange rate regimes and anchor currencies. The study finds that global exchange rate arrangements are now more flexible, with fixity levels significantly lower than during Bretton Woods, and less global anchoring to the US dollar when indirect links are considered. The paper is research in progress and not indicative of Bank of England policy.
ResearchForeign exchange policy and markets
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2025-06-27•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice amending details for 14 individuals and two entities under the UK's Russia (Sanctions) (EU Exit) Regulations 2019. Rosneft Marine (UK) Limited and the Main Directorate of Deep-Sea Research remain subject to asset freeze and trust services sanctions in Guernsey. Businesses must report findings to the States of Guernsey Policy & Resources Committee and comply with asset freeze requirements unless a permitted derogation or licence applies.
Policy & regulationRules & requirementsSanctions list update
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2025-06-27•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has amended the identifying details of Abubakar Swalleh under the UK's ISIL and Al-Qaida sanctions regime. The designation remains active, requiring firms to freeze relevant assets and report any findings to the States of Guernsey Policy & Resources Committee. Firms must also notify the Commission and submit a report per Handbook Rule 12.37 if an affected relationship is identified.
SupervisionRegulatory reportingSanctions list update
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2025-06-27•Global•Institute of International Bankers
The Institute of International Bankers endorsed the removal of Section 899 from the One Big Beautiful Bill Act by Senate Finance Committee Chairman Mike Crapo and House Ways and Means Committee Chairman Jason Smith, while highlighting ongoing G7 negotiations led by Secretary Bessent for an alternative solution. The IIB emphasized the significant role of international banks in U.S. debt issuance and foreign direct investment, noting their contributions to the U.S. economy, including lending USD 1.3 trillion to U.S. companies in 2023.
Policy & regulationRules & requirementsOther
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2025-06-27•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission issued a cease and desist order against Convenience Cash Lending Corporation, operating as Zada Cash and Bloom Cash, for unregistered lending activities. The enforcement action follows the company's non-compliance with a July 2023 order mandating registration with the Credit Information Corporation under Republic Act No. 11765.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-27•Global•Sustainable Insurance Forum
The Sustainable Insurance Forum, Taskforce on Nature-related Financial Disclosures, and KPMG have launched NATURE-INSURE, a global programme to enhance insurance supervisors' responses to nature-related financial risks. The initiative aims to improve understanding of biodiversity loss impacts on insurance markets and introduce practical tools like TNFD’s LEAP approach. It highlights global disclosure frameworks and emerging supervisory practices to boost capabilities and awareness of sustainability goals.
Policy & regulationImplementation, projects & pilotsNature-related risk
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2025-06-27•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) released an evidence review linking nature-related risks to financial outcomes, highlighting the need for integrated risk assessment and improved data. Co-authored with the University of Oxford and Global Canopy, it includes case studies and sector guidance for water utilities, emphasizing assessing dependencies and impacts on nature. TNFD also announced a public consultation and further work on nature-related opportunities.
Policy & regulationInternational standards & recommendationsNature-related risk
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2025-06-27•United Kingdom•Prudential Regulation Authority
The Bank of England and the Prudential Regulation Authority (PRA) released their annual report on whistleblowing disclosures for the period from 1 April 2024 to 31 March 2025. Out of 264 disclosures, 252 were deemed protected under the Employment Rights Act 1996, with 32 contributing to supervisory activity and 76 under ongoing assessment. Twelve disclosures were not protected due to issues outside the authorities' remit or insufficient context.
EnforcementWhistleblowing
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2025-06-27•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority (PRA) released results from its 2024 Firm Feedback Exercise, showing improved average scores in supervision effectiveness compared to 2023. While firms praised their relationships with the PRA, feedback on the regulatory framework and policy was less favorable. Larger firms expressed concerns about the complexity of specialist engagements, while smaller firms highlighted the need for proportionality in supervisory activities.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-06-27•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority issued guidance to banks and insurance companies on obtaining borrowers' signatures on the Key Features Statement (KFS), emphasizing compliance with Regulation 51 of the Insurance (Licensing & Governance) Regulations, 2020. Banks may sign the KFS as co-insureds if borrowers are unreachable, and the signature requirement may be waived at renewal if the KFS was signed at inception and policy terms remain the same.
Policy & regulationGuidance & interpretationSales and distribution
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2025-06-27•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo approved its 2024 Annual Report, confirming financial sector stability and detailing measures to enhance banking capitalisation and supervision. The report notes 4.4% economic growth, 1.6% inflation, and public debt at 16.5% of GDP, alongside regulatory advancements and governance reforms. From EUR 30.8 million in distributable profits, over EUR 15.4 million was allocated to the state budget, with EUR 9.1 million paid in interest on state accounts.
Institutional developmentGovernanceFinancial stability and systemic riskSupervision process and methodologies
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2025-06-27•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission hosted the 10th Asia Pacific Regulators’ Dialogue on Market Surveillance in Bangkok, focusing on technology use in surveillance, market misconduct trends, and digital asset regulation. Participants included major Asia-Pacific regulators, discussing jurisdiction-specific challenges and cross-border cooperation.
Policy & regulationCooperationMarket abuseSupervision process and methodologies
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2025-06-27•Thailand•Thailand Securities & Exchange Commission
The Thailand SEC rejected NR Instant Produce's request for a 60-day extension to submit rectified financial statements for 2024 and Q1 2025, citing insufficient grounds. The SEC instructed NRF to file and disclose the statements via the Stock Exchange of Thailand’s SETLink system without delay. The rectification involves accounting treatment of shareholding changes in Kairous Asia Limited and asset impairment considerations for Regeneration Capital Co., Ltd.
SupervisionAuthorisations & approvalsAccounting and financial reporting
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2025-06-27•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) announced that the European Commission does not object to its plan to extend risk weight floors for Swedish mortgage and commercial property exposures under Article 458 of the Capital Requirements Regulation. The existing floors are 25% for residential mortgages, 35% for commercial real estate, and 25% for commercial residential property. Finansinspektionen will decide before the current measures expire in 2025.
Policy & regulationRules & requirementsCapital adequacy