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2025-06-06•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported an increase in Hong Kong's foreign currency reserve assets to USD 431.0 billion at the end of May 2025, up from USD 410.2 billion in April. Including unsettled foreign exchange contracts, reserves were USD 430.9 billion. The HKMA issues four Exchange Fund data press releases monthly, with three aligned to the IMF’s Special Data Dissemination Standard.
Data & statisticsBalance of payments and other external statistics
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2025-06-06•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a scam alert about fraudulent websites, fake internet banking login screens, and phishing emails linked to press releases by four banks: The Bank of East Asia, Shanghai Commercial Bank, HSBC, and China Construction Bank (Asia). HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS.
SupervisionAlertsFraud and scams
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2025-06-06•Bulgaria•National Bank of Bulgaria
Bulgarian National Bank Governor Dimitar Radev met with European Commissioner Valdis Dombrovskis to discuss Bulgaria's euro area accession, confirmed for 1 January 2026. They addressed reports affirming Bulgaria's readiness and the need for a currency transition information campaign. Dombrovskis also met with EU ambassadors and Bulgarian officials on the euro introduction.
Policy & regulationCooperationCross-border cooperation
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2025-06-06•India•Reserve Bank of India
The Reserve Bank of India revised the qualifying assets criteria for Non-Banking Financial Companies – Microfinance Institutions (NBFC-MFIs) to align with the definition of "microfinance loans" under its Regulatory Framework. Qualifying assets must now constitute at least 60% of total assets, excluding intangible assets, on an ongoing basis. Non-compliance for four consecutive quarters requires a remediation plan submission to the Reserve Bank.
Policy & regulationRules & requirementsPrudential risks
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2025-06-06•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) issued guidance on unrecognised charges linked to insurance and pension products. SUSEP emphasized that debits without consumer consent are prohibited and advised consumers to monitor account statements for unauthorized entries. Consumers are urged to contact insurers for resolution and file complaints via Consumidor.gov.br if issues persist, aiding SUSEP's supervision efforts.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-06-06•Europe•European Central Bank
The European Central Bank released a consultation paper on potentially extending T2's operating hours to a 24/7 model. It explores reducing daily downtime, opening on weekends and holidays, and revisiting key cut-offs, while seeking market input on needs, constraints, and risks. This initiative aims to address liquidity-management frictions and implications for TARGET2-Securities and monetary policy.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-06-06•Europe•European Central Bank
The European Central Bank will expand the euro short-term rate (€STR) reporting population from 45 to 69 banks starting 2 July 2025. This follows the inclusion of 24 additional banks in the Money Market Statistics Reporting population in July 2024, after ensuring data quality standards. The expansion aims to enhance the benchmark's robustness and representativeness, with minimal expected impact on the rate level.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-06-06•South Africa•South African Reserve Bank
The South African Reserve Bank reported an increase in gross reserves to USD 68,116 million as of 31 May 2025, up USD 531 million from the previous month. The international liquidity position rose to USD 64,804 million, driven by a higher US dollar gold price, valuation adjustments, and matured money market swaps. Gold reserves increased to USD 13,277 million, while foreign exchange reserves reached USD 48,400 million.
Data & statisticsBalance of payments and other external statistics
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2025-06-06•South Africa•South African Reserve Bank
The South African Reserve Bank reported a decrease in total assets to ZAR 1.273 trillion as of 31 May 2025, primarily due to a ZAR 36.4 billion drop in gold and foreign assets. This decline was driven by reductions in foreign exchange reserves, special drawing rights, and the rand value of gold. The gold and foreign exchange contingency reserve account decreased by ZAR 35.9 billion, while banks’ deposits rose by ZAR 15.1 billion.
Data & statisticsBalance of payments and other external statistics
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2025-06-06•Estonia•Ministry of Finance (Estonia)
Estonia's Ministry of Finance proposes draft amendments for savings and loan cooperatives, restricting deposit-taking and requiring banking or cooperative bank authorisation, prudential supervision, and deposit guarantee protection. The three-stage implementation will initially ban new cooperatives and restrict deposit activities, leading to a decision by 2027 on obtaining a bank licence, continuing without deposit-taking, or ceasing operations. These changes address the lack of financial supervision and oversight, highlighted by recent cooperative bankruptcies.
Policy & regulationRules & requirementsLicensing framework and process
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2025-06-06•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported an increase in gross international reserves to USD 105.5 billion as of end-May 2025, up from USD 105.3 billion in April. This rise was driven by valuation gains on gold holdings, net income from investments, and government foreign currency deposits. The reserves cover 7.3 months of imports and 3.7 times short-term external debt.
Data & statisticsBalance of payments and other external statistics
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2025-06-06•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has initiated the process to form the first panel of the Insurance Arbitrator, seeking candidates who meet specific professionalism, integrity, and independence criteria. Representative associations of insurance undertakings, intermediaries, and customers are also invited to designate members. Appointments will be finalized by an IVASS measure.
Policy & regulationImplementation, projects & pilotsHiring and recruitment
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2025-06-06•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission released a PDF FAQ document titled “VIDIC: Bank of Asia (BVI) Limited FAQs”.
Policy & regulationGuidance & interpretationOther
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2025-06-06•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) clarified its Digital Token Service Providers (DTSPs) regime under the Financial Services and Markets Act 2022, requiring DTSPs serving non-Singaporean customers to be licensed by 30 June 2025. MAS generally will not issue licenses for outbound-only business models due to higher money laundering risks and supervision challenges. Existing DTSPs must cease operations if unlicensed, while services related to utility and governance tokens remain unregulated.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-06-06•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Singapore Police Force will block access to overseas trading platforms Octa and XM for operating without a licence under the Securities and Futures Act 2001. These platforms offered trading in leveraged foreign exchange, commodities, indices, and equities to Singapore customers without the required capital markets services licence. Authorities emphasized this prohibition applies to entities outside Singapore targeting Singapore persons and advised consumers to use regulated platforms listed in MAS’ Financial Institutions Directory.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-06•Brazil•Brazil Securities Commission (CVM)
Brazil’s Securities Commission (CVM) has suspended the registrations of Captalys Securitizadora S.A., Guardian Companhia Securitizadora, and Fontaine Ville Participações S.A. for over a year of non-compliance with mandatory information submissions. The suspension prohibits new securities issuances and trading on regulated markets but does not exempt the companies or their officers from responsibility for prior violations.
SupervisionAuthorisations & approvalsDisclosures
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2025-06-06•Poland•Ministry of Finance (Poland)
Poland’s Ministry of Finance warned about fraudsters posing as the General Inspector of Financial Information (GIIF) to solicit money and sensitive information under the guise of anti-money laundering checks and crypto-related processes. The schemes involve demands for fees, pressure to invest in cryptocurrencies, and offers to recover funds, falsely claiming GIIF's involvement. The Ministry emphasized that GIIF does not charge fees, verify finances, or request data corrections via email, urging the public to report suspicious activities.
SupervisionAlertsFraud and scams
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2025-06-06•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has launched, with the International Monetary Fund, a Regional Training Program for South America and Mexico at the Central Bank of Paraguay Institute. The program will provide technical training for officials from central banks, finance ministries, financial supervisors and national statistics offices across the region.
Policy & regulationImplementation, projects & pilotsCapacity building
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2025-06-06•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) joined the Global Week of Action Against Unlawful Finfluencers, targeting unauthorized social media promoters of financial products. The OSC reviewed 87 finfluencers and nine issuers, uncovering unregistered investment advice and misleading information, especially in the crypto sector. Supported by the Royal Canadian Mounted Police, the initiative included warnings, interviews, and educational outreach to deter retail investors from misleading promotions.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-06•Global•Taskforce on Nature-related Financial Disclosures
The Taskforce on Nature-related Financial Disclosures (TNFD) released ocean-focused materials, including final sector guidance for fishing and marine transportation and a discussion paper on ocean-related dependencies and risks. The fishing guidance aligns with the Science Based Targets Network’s ocean targets, while the marine transportation guidance addresses interactions with ecologically sensitive areas. An ocean-related issues survey and stakeholder engagement events are planned to refine ocean measurement and metrics.
Policy & regulationInternational standards & recommendationsNature-related risk
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2025-06-06•Poland•Central Bank of Poland
The Central Bank of Poland reported Poland's official reserve assets at EUR 215.1 billion (USD 243.5 billion) as of the end of May 2025, marking an increase of EUR 1.9 billion from April. The bank emphasized that reserve management focuses on safety and liquidity, with investments primarily in Treasury securities, non-government debt securities, and investment fund units, and a smaller portion in short-term deposits at highly rated banks.
Data & statisticsBalance of payments and other external statistics
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2025-06-06•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority released its April 2025 report on share buy-back transactions by listed companies, including liquidity contracts under Decree No 2-02-556. Maroc Telecom's programme, capped at 20%, reported purchases and sales at weighted average prices of MAD 271.21 and MAD 270.24, respectively. BCP's programme, also capped at 20%, disclosed purchases and sales with price limits of MAD 145 and MAD 61, respectively.
SupervisionRegulatory reportingFinancial and market indicatorsSupervisory data
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2025-06-06•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission advises bondholders of three Country Group Development Public Company Limited bond series to review information and exercise their rights at an upcoming meeting. The meeting will vote on extending redemption maturity periods, increasing interest rates, and shifting to partial interest payments. Bondholders’ representatives must analyze the proposals' benefits, shortcomings, and potential impacts.
Policy & regulationGuidance & interpretationCorporate governance
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2025-06-06•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada aided the Royal Canadian Mounted Police in enforcing sanctions, resulting in the arrest of a Canadian businessman for exporting prohibited technology to Russia. After a three-year investigation, Anton Trofimov was charged under the Special Economic Measures Act and appeared in court on May 22, 2025. The case involved cooperation with multiple domestic and international agencies.
EnforcementInvestigations & enforcement actionsSanctions list update
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2025-06-06•Namibia•Bank of Namibia
The Bank of Namibia and the University of Namibia have renewed their Cooperation Agreement, extending their partnership through 2029. The agreement focuses on academic support, joint research, and capacity building, with the Bank providing staff as part-time lecturers and aligning research with national policy frameworks. Key areas include macroeconomic stability, inclusive growth, financial systems development, and social transformation.
Institutional developmentCooperation & capacity buildingDomestic cooperation
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2025-06-06•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services welcomed a D.C. District Court decision upholding the SEC's 2020 amendments to Rule 14a-8, which modernize the shareholder proposal process. The amendments aim to reduce duplicative or low-support proposals and unnecessary costs for public companies. The Committee plans to continue efforts to streamline the proxy process and reduce burdens on companies in U.S. public markets.
Policy & regulationRules & requirementsCorporate governance
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2025-06-06•Russia•Central Bank of Russia
The Central Bank of Russia has established the procedure for a second round of automatic conversion of depositary receipts into shares of Russian issuers, starting 9 June 2025. Only depositary receipts recorded by Russian depositories are eligible, and issuers must notify the depository by 17 June 2025. The conversion process requires no investor action and is expected to be completed within one month.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-06-06•Canada•Office of the Superintendent of Financial Institutions
The Office of the Superintendent of Financial Institutions (OSFI) discussed its updated Supervisory Framework and expanded mandate during the 2025 Risk Management Webcast, focusing on financial resilience and risk governance. OSFI noted potential tariff impacts on supply chains and credit markets, risks of higher delinquencies, and emphasized downturn preparedness. It is modernizing its intervention guide for federally regulated deposit-taking institutions and plans to share feedback themes with the industry in the fall.
SupervisionSupervision approach, priorities & toolkitRisk analysis and outlook
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2025-06-06•Canada•Payments Canada
Payments Canada conducted the third session of its webinar series on the legal framework for the Real-Time Rail (RTR), focusing on the proposed recourse and compliance framework. The session, led by Lisa Sattler, covered compliance rules, monitoring, reporting, and handling exceptions and returns. The series will conclude with a session on centralized fraud services on June 12, 2025.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-06-06•United States•Federal Reserve Board
The Federal Reserve Board has initiated its 2025 Census of Finance Companies and Other Lenders to assess financing by nonbank financial institutions to U.S. households and businesses. Conducted every five years, the census informs the Federal Reserve’s monthly reports on finance companies’ accounts receivable and funding sources, contributing to estimates of total consumer credit and the Financial Accounts of the United States. Chair Jerome H. Powell has invited around 13,000 companies to participate, ensuring confidentiality of responses.
Data & statisticsRegulatory reporting
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2025-06-06•United States•Federal Reserve Board
The Federal Reserve Board appointed Michael E. Horowitz as the new head of its Office of Inspector General (OIG), effective 30 June 2025. The OIG, which also serves the Consumer Financial Protection Bureau, focuses on enhancing agency efficiency and preventing waste, fraud, and abuse. Horowitz succeeds Mark Bialek and previously served as inspector general for the Department of Justice.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-06•Vietnam•State Bank of Vietnam
The State Bank of Vietnam and the World Bank held a workshop in Hanoi on managing related-party transactions in banking supervision. Deputy Governor Pham Quang Dung stressed an integrated approach with clear rules, technology, and inter-agency coordination to mitigate risks like moral hazard and financial fraud. The central bank highlighted regulatory enhancements, including the 2024 amended Law on Credit Institutions, and is reviewing sub-law instruments to align with international standards like the Basel Core Principles.
Policy & regulationGuidance & interpretationDomestic cooperation
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2025-06-06•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) joined the Global Week of Action Against Unlawful Finfluencers, working with international regulators to tackle unauthorized financial promotions on social media. The BCSC issued 74 compliance letters, cautioned a Vancouver-area finfluencer, and engaged with businesses promoting B.C. public companies. The initiative stressed the importance of clear disclosure under British Columbia’s Securities Act, citing a 2023 decision penalizing inadequate disclosure.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-06-06•Tanzania•Tanzania Capital Market and Securities Authority
The Tanzania Capital Markets and Securities Authority has opened applications for its Securities Industry Certification Course, to run from 14 July to 22 August 2025 in collaboration with the Chartered Institute for Securities and Investment. The programme supports the certification requirement for people seeking to work in regulated capital markets roles under Tanzanian law. Applications close on 12 July 2025.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-06-06•China•China Banking and Insurance Regulatory Commission
Wang Yunquan, former party committee secretary and director of the Sichuan Banking Regulatory Bureau, is under disciplinary review and investigation by the Suining Municipal Supervisory Commission for suspected serious breaches of discipline and law. The investigation is conducted by the discipline inspection team at the National Financial Regulatory Administration and the Sichuan Provincial Commission for Discipline Inspection.
EnforcementInvestigations & enforcement actions
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2025-06-06•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration has released a consultation draft of interim provisions to standardize the designation and management of "seriously dishonest" entities in the financial sector. The draft outlines criteria for inclusion, management measures, and governance procedures, including a credit restoration mechanism for early removal. Public feedback will be reviewed before finalizing and implementing the rules.
Policy & regulationRules & requirementsOther
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2025-06-06•Luxembourg•Ministry of Finance (Luxembourg)
Luxembourg's Finance Minister Gilles Roth joined counterparts from France, Spain, Germany, the Netherlands, and Estonia in Paris to launch the Finance Europe label, led by French Finance Minister Éric Lombard. The label aims to boost investment in European assets and competitiveness, with Roth highlighting its role in redirecting savings towards growth and innovation. The event was part of the Competitiveness Laboratory, a project initiated by Spain to enhance European capital markets.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-06-06•United States•Financial Crimes Enforcement Network
FinCEN issued an advisory to help financial institutions identify and report suspicious activities related to Iranian illicit finance, including oil smuggling and "shadow banking." This replaces the 2018 Iran Advisory and supports the U.S. pressure campaign against Iran, providing updated red flags for sanctions evasion. Concurrently, the Treasury's Office of Foreign Assets Control designated over 30 individuals and entities linked to the Zarringhalam network for laundering billions through Iran's "shadow banking" system.
Policy & regulationGuidance & interpretationAML and CFTFinancial stability and systemic risk
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2025-06-06•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance highlighted Superintendent Guillermo Plate's remarks at the National Forum 2025, emphasizing the strategic role of Insurance Producer Advisers. Plate advocated for a stable macroeconomic environment to foster a sustainable insurance sector and suggested enhanced training and flexible products could significantly increase insurance premiums relative to GDP. The forum featured discussions on market developments, innovation, and artificial intelligence.
OtherMarket development
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2025-06-06•Jamaica•Bank of Jamaica
The Bank of Jamaica announced that cotton banknotes will cease to be legal tender from 1 July 2025, advising businesses to accept them until 30 June 2025. The central bank is facilitating the transition by exchanging cotton banknotes for polymer ones indefinitely. Deposit-taking institutions will accept cotton banknotes over the counter and via ATMs until at least the end of July 2025.
Policy & regulationRules & requirementsCurrency and cash management
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2025-06-06•Switzerland•Federal Department of Finance (Switzerland)
Switzerland's Federal Council has initiated amendments to the too big to fail framework for systemically important banks, following the Credit Suisse crisis review. The reform package includes legislative and ordinance changes to mitigate risks to the state and economy, with consultations starting in autumn 2025. Key proposals involve a senior managers regime, stricter capital provisions, enhanced liquidity reporting, and expanded FINMA powers.
Policy & regulationRules & requirementsFinancial stability and systemic riskPrudential risks
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2025-06-06•Switzerland•Federal Department of Finance (Switzerland)
The Swiss Federal Council has adopted a dispatch to introduce the international automatic exchange of information (AEOI) for cryptoassets with 74 jurisdictions, including EU member states, the UK, and most G20 countries, excluding the US and Saudi Arabia. Exchanges will occur with partner states meeting OECD requirements, with the regime starting in 2026 and the first data exchange in 2027. The Federal Council plans to amend the federal decree to extend the existing AEOI review mechanism to cryptoassets.
Policy & regulationRules & requirementsTax transparency and information exchange
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2025-06-06•Moldova•National Bank of Moldova
The National Bank of Moldova will preside over the Banking Supervisors from Central and South Eastern Europe (BSCEE) from December 2025 to December 2026, with Vice Governor Constantin Șchendra serving as president. The BSCEE conference addressed cyber risk, banks' digitalisation, artificial intelligence, and prudential requirements. The National Bank of Moldova expressed interest in hosting the 2026 annual conference.
SupervisionCooperationCross-border cooperation
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2025-06-06•Moldova•National Bank of Moldova
The National Bank of Moldova released an explanatory video detailing its role in Moldova's EU integration, focusing on legislative, institutional, and functional reforms for a stable financial system. The bank leads negotiations with the EU on free movement of capital, financial services, and monetary policy. This initiative is part of an educational series for Europe Day and aligns with the National Accession Programme for 2025–2029.
Financial literacy & educationOther
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2025-06-06•United States•U.S. Department of the Treasury
The U.S. Treasury’s Office of Foreign Assets Control designated over 30 individuals and entities linked to Iranian brothers for laundering billions through Iran’s shadow banking network. Concurrently, the Financial Crimes Enforcement Network issued an advisory to help financial institutions identify and report suspicious activities related to Iranian illicit finance. The designations, under Executive Orders 13902 and 13846, block property within U.S. jurisdiction and prohibit transactions with the listed entities.
EnforcementSanctions & designationsNew sanctions designations
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2025-06-06•Europe•Single Resolution Board
The Single Resolution Board's Q4 2024 dashboard confirms banks under its supervision meet their minimum requirement for own funds and eligible liabilities (MREL) targets. The average final MREL target, including the Combined Buffer Requirement, remains at 28% of the Total Risk Exposure Amount, with a total shortfall of EUR 0.6 billion attributed to three banks with extended transitional periods. Banks issued EUR 60 billion in MREL-eligible instruments during the quarter.
SupervisionRegulatory reportingRecovery and resolution
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2025-06-06•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission (TTSEC) hosted an Investor Education Forum with the Financial Literacy Secretariat and other stakeholders to enhance financial literacy in Tobago. TTSEC CEO Kester Guy emphasized investor education as key to regulatory protection and announced initiatives for youth, women, and the elderly. The forum showcased TTSEC’s Investor Education Programme evolution and included presentations on securities protections and practical resources.
Financial literacy & educationFinancial literacy and education
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2025-06-06•Caribbean•Eastern Caribbean Central Bank
Eastern Caribbean Central Bank Governor Timothy N. J. Antoine stressed cybersecurity as a top concern at the 30th Annual Conference of Regional Central Banks’ Information Systems Specialists. He urged IT teams to focus on core controls, incident preparedness, and cross-border collaboration, highlighting rising global cybercrime costs and the need to protect critical infrastructure. The conference, themed “Beyond Borders: Collaboration, Innovation and Resilience in Central Banking IT,” included participants from various regional central banks.
Policy & regulationGuidance & interpretationCyber resilience
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2025-06-05•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission has approved amendments and supplements to the National Corporate Governance Code, initially adopted by the National Corporate Governance Commission on 25 June 2024.
Policy & regulationRules & requirementsCorporate governance
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2025-06-05•Bolivia•Ministry of Finance (Bolivia)
Bolivia's Ministry of Finance reports implementing over 90% of the FATF's 2021 recommendations but highlights a legislative gap in authorizing special investigative techniques for anti-money laundering and counter-terrorist financing. Despite previous attempts, the necessary law remains stalled in the Plurinational Legislative Assembly. The FATF has not issued an official statement, but inclusion on the "grey list" could lead to increased monitoring.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-06-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) announced that the Full Federal Court dismissed its appeal, upholding a previous ruling that a term in Auto & General Insurance Company Limited's home and contents insurance policies was not unfair. The term required policyholders to notify the insurer of any changes in their home and contents. Auto & General has since replaced the term in its product disclosure statements.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-06-05•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand appointed Kate Le Quesne as Assistant Governor Enterprise Services, completing its Executive Leadership Team structure effective 16 June 2025. The bank also confirmed a reshaped Leadership Team structure with 20 director roles across four groups, and announced Vanessa Rayner as acting Director Financial Markets.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-05•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued an External Operating and Services Circular (DTE-363, Topic 72) regarding COP 100,000 banknotes.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-06-05•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced that intermediaries will receive notices to pay contributions toward FSMA's operating costs for the 2025 financial year in the second half of June. Details are available in the FSMA newsletter in Dutch and French.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-06-05•Greece•Bank of Greece
The Bank of Greece's biannual report for H2 2024 shows continued nominal increases in prime office and retail prices, with office prices rising 4.9% year-on-year and retail prices up 8.8%. Office rents increased by 1.9% and retail rents by 6.4% for the year. The indices, covering prime investment property, are valuation-based and compiled using data from credit institutions and real estate investment companies.
Data & statisticsFinancial and market indicators
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2025-06-05•Israel•Bank of Israel
The Bank of Israel reported that foreign exchange reserves reached USD 223,626 million at the end of May 2025, representing 40.8% of GDP, with a monthly increase primarily due to a revaluation gain of USD 2,446 million.
Data & statisticsForeign exchange policy and markets
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2025-06-05•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority (FSMA) released two reports detailing the current status of Belgium's investment and insurance sectors.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-05•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA) reported on life companies' progress in addressing premium increases, product design, and disclosure issues. Initial concerns were raised in December 2022 and 2023 regarding unexpected premium hikes. The review noted improvements in re-rating practices and governance but found efforts to mitigate premium volatility through product design are still nascent. ASIC and APRA will continue to engage with life companies to ensure products meet consumer needs and provide stable premiums.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-06-05•Australia•Australian Securities & Investments Commission
ASIC's follow-up review of seven home insurers revealed inconsistent outcomes and gaps in claims handling. Despite improvement efforts, issues included weak oversight of experts, inadequate consumer information, and rising disputes. Reliance on manual controls and inconsistent governance were noted. With 29,021 Code breaches reported, ASIC urged better claims handling and prioritized enforcement for 2025, citing ongoing investigations against Hollard Insurance Partners Limited.
SupervisionReviews, inspections & stress testsClaims management
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2025-06-05•Australia•Australian Securities & Investments Commission
ASIC's follow-up review of home insurance claims handling found ongoing deficiencies despite improvements since August 2023. Insurers still poorly oversee independent experts influencing claim decisions and provide inadequate information on cash settlements. There is a lack of systematic quality monitoring of expert reports and insufficient validation processes for decisions. Cash settlement fact sheets often lack clarity on review rights, affecting consumer choices. The review covered action plans from August 2024 to April 2025 for seven insurers, including AAI, Allianz, Auto & General, Hollard, IAG, QBE, and Youi. ASIC urges insurers to assess their claims handling programs.
SupervisionReviews, inspections & stress testsClaims management
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2025-06-05•Kenya•Central Bank of Kenya
The Central Bank of Kenya has licensed 41 more Digital Credit Providers (DCPs), raising the total to 126. The licensing process, started in March 2022, involved collaboration with other regulators and focused on business models, consumer protection, and stakeholder suitability amid concerns over predatory practices by unregulated DCPs. Remaining applicants are urged to submit necessary documentation to complete the review process.
SupervisionAuthorisations & approvalsLicence approval
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2025-06-05•Rwanda•Rwanda Capital Markets Authority
Rwanda Capital Markets Authority stressed regular saving and investment via Rwanda’s capital market, including employer-supported workplace savings, to aid job creation under the National Strategy for Transformation. Investment options include Rwanda Treasury bonds with an 11% yield and the RNIT Iterambere Fund with 11.78% returns. Employers were urged to implement automatic payroll savings with matching contributions to boost employee savings.
Financial literacy & educationFinancial literacy and education
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2025-06-05•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority (CMA) and the University of Lay Adventists of Kigali (UNILAK) hosted the Capital Market Youth Forum 2025 to promote saving and informed investment among Rwanda's youth. The event featured expert presentations and discussions on investment fundamentals, linking academic learning with market engagement. CMA emphasized the forum's role in its strategy to empower tertiary-level students in the capital market.
Financial literacy & educationFinancial literacy and education
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2025-06-05•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador reported that Transfer365 has saved Salvadorans about USD 184.13 million in interbank transfer fees since its launch, with 9 out of 10 users preferring the service. Available 24/7, Transfer365 has facilitated USD 74,261.01 million in transactions, with significant usage by women and outside business hours. Additional modalities, including Transfer365 Mobile and Transfer365 Business, have processed substantial transaction volumes, while the Central America–Dominican Republic service has generated notable cost savings.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-06-05•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) has achieved ISO 9001/2015 certification for its quality management system, enhancing processes for insurance product distributor agreements and authorisations. Issued by CERTI-TRUST, the certification aims to improve internal procedures, focusing on transparency, efficiency, and compliance. It emphasizes continuous improvement, customer satisfaction, and a risk-based approach.
Institutional developmentCooperation & capacity buildingOperational excellence
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2025-06-05•Indonesia•OJK
Bank Indonesia and the Financial Services Authority (OJK) launched the BI-OJK Hackathon 2025 to foster digital financial services innovation, focusing on AI as a Service, finance and public service innovation, and risk management. Open to professionals and students, it includes matchmaking sessions to align solutions with practical needs. It precedes the Festival Ekonomi dan Keuangan Digital and Indonesia Fintech Summit & Expo 2025, highlighting recent developments in QRIS adoption and cross-border links.
Policy & regulationImplementation, projects & pilots
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2025-06-05•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) issued a circular letter tightening prudential practice, risk management, and consumer protection for commercial health insurance products. Insurers must implement a minimum 10% co-payment on claims, capped at IDR 300,000 for outpatient and IDR 3,000,000 for inpatient claims, and ensure coordination with the National Health Insurance scheme. Additional requirements include qualified medical expertise, a Medical Advisory Board, and digital data exchange systems.
Policy & regulationRules & requirements
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2025-06-05•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica announced the registration of the Monetary Stabilization Bond issuance BCFIJA190231 in the National Registry of Securities and Intermediaries, following resolution SGV-R-OP-8-2025.
Monetary policyMonetary policy instruments & operationsSecurities offerings and listings
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2025-06-05•Italy•Bank of Italy
The Bank of Italy will host the 11th International Conference on Sovereign Bond Markets in Venice on 10–11 June 2025, focusing on "Sovereign Bond Markets: Sailing in Calm and Stormy Waters." Co-organised with several international institutions, the event will be opened by Deputy Director General Paolo Angelini, with the programme and registration details available online.
Policy & regulationImplementation, projects & pilotsOther
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2025-06-05•Italy•Bank of Italy
The Bank of Italy published "The social cost of payment instruments in Italy: results of the third survey," analyzing efficiency conditions in the payment services market. The study, initiated in 2023, surveyed banks, payment service providers, firms, and merchants.
ResearchPayments and payment systems
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2025-06-05•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has released a consultation paper on peer-to-peer and crowd lending, proposing amendments to the Non-Banking Finance Companies & Notified Entities Regulations, 2008. Key reforms include increased loan sizes, enhanced governance, improved risk disclosures, and new IT and cybersecurity standards. The initiative aims to expand access to alternative finance and includes revised definitions for SMEs and microenterprises, as well as relaxed criteria for fintech startups.
Policy & regulationRules & requirementsCrowdfunding
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2025-06-05•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia highlighted the impact of its new legal framework for payment systems, noting increased competition and reduced digital payment costs. Merchant fees for card acceptance decreased to 1.1% in 2024, with a 36% rise in merchants accepting digital payments. Upcoming milestones include open banking by March 2026 and banks joining SEPA schemes in October 2025 to enhance cross-border euro payments.
Policy & regulationImplementation, projects & pilotsPayments and payment systemsMarket development
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2025-06-05•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority published a notice calling Groupe Industriel SAIDAL Spa shareholders to an ordinary general meeting on June 22, 2025, at 09:00 in Algiers.
Other
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2025-06-05•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority published a notice convening EGH Chaine El-Aurassi’s ordinary general meeting for June 15, 2025, at 10:00 a.m. The meeting is scheduled at the company’s headquarters in Algiers.
SupervisionRegulatory reportingOther
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2025-06-05•Italy•Bank of Italy
The Bank of Italy released findings from its third survey on the social cost of payment instruments in Italy, initiated in 2023 by the Italian Payments Committee. The survey analyzes the efficiency of the Italian payment services market using data from banks, service providers, firms, and retailers.
ResearchPayments and payment systems
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2025-06-05•China•Central Bank of the Republic of China
The People's Bank of China held a conference to review recent organizational work and set future priorities, confirming the completion of institutional reform tasks. The agenda emphasizes strengthening party-led governance, enhancing the central bank's talent pipeline, and implementing branch-level reforms. Key focuses include promoting younger officials, improving HR selection capabilities, and enforcing stricter standards and integrity.
Institutional developmentGovernanceHiring and recruitment
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2025-06-05•United States•National Credit Union Administration
The National Credit Union Administration's Q1 2025 report shows federally insured credit unions' total assets rose by USD 60 billion to USD 2.37 trillion, with loans increasing by USD 53 billion to USD 1.65 trillion. Net interest margin improved to 3.24% of average assets, while shares and deposits grew by USD 86.1 billion to USD 2.02 trillion. Net income increased 4.6% to USD 15.7 billion, with system net worth up 5.9% to USD 259.3 billion and the net worth ratio rising to 10.95%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-06-05•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York appointed Beth Gosch to its Community Advisory Group, which advises on economic issues in the Second District. Gosch, executive director of the Western New York Foundation, brings nearly 20 years of experience in regional advisory and nonprofit boards.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-05•United States•Federal Reserve Bank of Philadelphia
Federal Reserve Bank of Philadelphia President Patrick Harker emphasized a "certain and deliberate" monetary policy approach amid economic uncertainty, describing the US economy as resilient. He highlighted the Federal Reserve's gradual balance sheet normalization and reaffirmed support for its independence. Harker also urged incorporating community voices in policy discussions and warned of potential debt impacts on the economy.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-06-05•Laos•Bank of the Lao
The Bank of the Lao PDR held a consultation meeting to gather feedback on a draft decree aimed at improving Lao kip banknote management and reducing damage. Chaired by Deputy Governor Khankeo Hamanyengao, the session included 65 participants from ministries, banks, and microfinance institutions. The draft decree, consisting of nine chapters and 35 articles, addresses challenges in banknote handling due to improper public usage and storage.
Policy & regulationRules & requirementsOther
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2025-06-05•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) proposes lifting the ban on offering crypto exchange traded notes (cETNs) to UK retail investors if traded on an FCA-approved exchange. Financial promotion rules would apply, while the ban on retail access to cryptoasset derivatives remains. The FCA's consultation paper also suggests simplifying reporting requirements for funds, potentially reducing costs for 149 firms managing over 3,900 funds.
Policy & regulationRules & requirementsTrading
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2025-06-05•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) has issued updated guidance on assessing complaints related to add-on insurance products sold before July 2019, applicable to complaints lodged from 1 July 2025. The guidance outlines information requirements, time limit assessments, and expectations for paid representatives and financial firms in resolving complaints.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-06-05•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina, with the Banking Agency of Republika Srpska, completed a project to develop a regulatory framework for the countercyclical capital buffer and borrower-based measures like debt service-to-income and loan-to-value limits. The project involved preliminary calibration of these measures and was supported by the National Bank of Romania under a European Commission-funded programme.
Policy & regulationImplementation, projects & pilotsCapital adequacyMacroprudential policy and tools
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2025-06-05•New Zealand•Department of Internal Affairs
New Zealand's Department of Internal Affairs fined Auckland-based Qian DuoDuo Limited, trading as Lidong Foreign Exchange, NZD 1.125 million for failing to report suspicious activity and transactions under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. The firm did not report 197 international transactions to China, totaling over NZD 19.14 million, including 26 suspicious transactions worth NZD 4.72 million. The District Court found inadequate customer due diligence and reliance on questionable documents, with the firm appealing to the High Court.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-06-05•Sweden•Riksbank
The Riksbank has adopted a new Framework for the transaction-based reference rate SWESTR, consolidating previous policies without altering its calculation or administration. The framework clarifies governance and departmental responsibilities, covering SWESTR's determination, publication, and related average interest rates. Official publication will occur on the Riksbank’s website and via its API.
Policy & regulationRules & requirementsFinancial benchmarks
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2025-06-05•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission announced that the Eastern Magistrates’ Court set a preliminary trial date for 24 November 2025 in its insider dealing case against Wong Pak Ming. Wong is accused of insider dealing in Transmit Entertainment Limited shares between August and October 2017. The case is adjourned to 25 August 2025 for mention and pre-trial review, with bail conditions including a HKD 200,000 cash bail and travel restrictions.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-06-05•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia inaugurated the 18th Meeting of Bolivian Economists on “Advances and Challenges of the Digital Economy.” Held in Santa Cruz de la Sierra, it features discussions on central bank digital currencies, financial inclusion, and digital-asset regulation, with contributions from international experts. The programme includes presentations on crypto economy, compliance, and virtual-asset payment gateways, alongside research paper sessions and competitions.
Policy & regulationOtherCBDC
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2025-06-05•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority and the Australian Securities and Investments Commission released a joint update on life companies' responses to concerns about premium increases, product design, and disclosure. The review highlights improvements in re-rating, marketing, and product governance, but notes efforts to mitigate premium volatility through product design are still early. Both regulators will continue engaging with life companies to address areas needing improvement.
SupervisionReviews, inspections & stress testsConsumer and investor protection
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2025-06-05•Austria•Austria Financial Market Authority
The Austria Financial Market Authority reported from the Financial Market Stability Board's 45th meeting that the Countercyclical Capital Buffer (CCyB) will remain at 0%, with no systemic risks identified from leveraged financing of alternative investment funds. A new methodology for assessing cyclical risks will be applied from the 46th meeting. The Board noted high liquidity incongruence in real estate funds and reiterated concerns that a "hurdle rate" could undermine the 2021 legal amendment's objectives.
Policy & regulationRules & requirementsCapital adequacyMacroprudential policy and tools
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2025-06-05•Global•World Bank
The World Bank announced Solomon Islands' participation in its regional project to strengthen correspondent banking in the Pacific, ensuring access to the global financial system. Operational since August 2024 and financed by the International Development Association, the project includes USD 9 million for Solomon Islands to enhance payment systems, regulatory alignment, and financial data collection. This initiative addresses a 57% reduction in correspondent banking services from 2011 to 2022 and involves a feasibility study on a Pacific Payments Mechanism.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-06-05•Latin America•Financial Action Task Force of Latin America (GAFILAT)
GAFILAT reported on a joint FATF–GAFILAT Regional Seminar for Evaluators in Rio de Janeiro, part of the Fifth Round of Mutual Evaluations. The seminar trained evaluators from GAFILAT member countries on the FATF Fifth Round assessment methodology, focusing on technical compliance and AML/CFT systems' effectiveness. The programme included e-learning courses and practical exercises, supported by Brazil’s National Coordination.
Policy & regulationImplementation, projects & pilotsCapacity building
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2025-06-05•Australia•Reserve Bank of Australia
The Reserve Bank of Australia's Payments System Board reviewed ASX's inadequate response to the CHESS batch failure and is exploring regulatory options for CHESS system resilience. The Board also endorsed consultations on crisis resolution powers for clearing facilities and card payment costs, and expects compliance with AusPayNet's data porting standard by July 2026.
Policy & regulationGuidance & interpretationMarket infrastructureOperational risk and resilience
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2025-06-05•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 Alexander Klimentyevich Hegai and Askar Zhumagaliuly Aisabekov as independent directors in the securities market. Their appointments were formalized under protocols No. 243/RCB and No. 244/RCB dated 3 June 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-06-05•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency warned of rising fraud schemes involving fake housing, credit, and debt relief offers under false government programmes. Fraudsters use fake websites, social media, and request personal data, citing non-existent laws. Consumers should verify programmes through official sources and report suspicious activities to law enforcement.
SupervisionAlertsOther
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2025-06-05•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency suspended four microfinance organisations' licences for three months due to prudential breaches. Affected firms, including MFO Hava Finance LLP and MFO POS Credit LLP, cannot enter new or amended microcredit agreements during the suspension. Existing obligations must still be fulfilled by both firms and borrowers.
EnforcementInvestigations & enforcement actionsLicence approval
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2025-06-05•Cyprus•Cyprus Securities and Exchange Commission
HESPER CAPITAL LTD, the external manager of SFO GARNET RAIF V.C.I.C. LTD, has initiated the fund's dissolution and liquidation under the Alternative Investment Funds Law of 2018, as notified to the Cyprus Securities and Exchange Commission. The fund will remain registered and marked "under liquidation" on CySEC’s website until the process is finalized and all required documents are submitted. CySEC will remove the fund from the register upon completion of the liquidation.
SupervisionAuthorisations & approvalsOther
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2025-06-05•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that Hanseatic Capital Management Ltd has initiated the dissolution and liquidation of GMF Global Maritime Fund RAIF V.C.I.C. PLC. The fund will remain in the RAIFs Registry with an "under liquidation" notice until the process is complete. CySEC will remove the fund from the register upon completion and submission of all required documents.
SupervisionAuthorisations & approvalsOther
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2025-06-05•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced the dissolution and liquidation of four investment compartments of AZUSA UMBRELLA FUND AIF V.C.I.C. PLC, following a shareholders’ decision under the Alternative Investment Funds Law of 2018. The compartments, managed by Global Capital Securities & Financial Services Ltd, include Azusa Fixed Income Fund 1, Sanostra Development Fund, Sanostra Active Fund, and Sanostra Income Fund.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-06-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about scams involving fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited and Dah Sing Bank, Limited. The HKMA emphasized banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected customers should contact their bank and report to the Hong Kong Police Force Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-06-05•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) withdrew Investors Compensation Fund (ICF) membership from eight entities, including General Capital Brokers Ltd and Royal Forex Ltd, after revoking their authorisations. Despite losing ICF membership, covered clients retain rights to compensation for prior investment operations if conditions are met, and the compensation procedure may still commence.
SupervisionAuthorisations & approvalsOther