Bank Indonesia's April 2025 Consumer Survey indicates sustained consumer optimism, with the Consumer Confidence Index rising to 121.7 from 121.1 in March. The Current Economic Condition Index increased to 113.7 from 110.6, while the Consumer Expectation Index remained optimistic at 129.8, despite a slight decrease from 131.7.
The Bermuda Monetary Authority announced that the Supreme Court of Bermuda ordered the winding-up of Sagehi Equity Fund Ltd under the Investment Funds Act 2006. The court appointed Mathew Clingerman and Dylan Marshall of Kroll Bermuda Limited as joint provisional liquidators. The Authority cited breaches, including failures in appointing key roles and conducting business prudently, leading to impaired assets and inability to meet liabilities.
The Bermuda Monetary Authority petitioned the Supreme Court of Bermuda to wind up Stonebridge Capital Hedge Fund Limited due to serious breaches of the Investment Funds Act 2006, including failure to prepare audited financial statements and appoint an auditor. The Court ordered the fund's liquidation on 31 January 2025, appointing Rachelle Frisby and Robert Cowie of Interpath (Bermuda) Limited as joint provisional liquidators.
The Central Bank of Belize now allows customers to buy foreign currency directly from domestic banks for specified service-based transactions up to BZ$100,000 without prior approval. This applies to 12 categories, including accounting, engineering, and legal services. Transactions over BZ$100,000 or outside these categories still need Central Bank approval.
The Central Bank of Belize completed public education sessions under its "Know Your Money" initiative to prepare stakeholders for the circulation of redesigned banknotes. Over 700 participants, including financial institutions and government agencies, were briefed on the banknotes' design, security features, and handling. The initiative also included internal readiness sessions for central bank staff.
Peru's Superintendency of Banking, Insurance and Pension Funds has implemented Law No. 32294, requiring financial firms to provide reasons for credit application rejections within seven business days, unless based on prudential rules. This consumer protection amendment must be communicated through pre-established channels, with non-compliance considered a minor infringement. Firms have 60 days to update internal procedures accordingly.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens reported by Shanghai Commercial Bank Limited. The HKMA reminded customers that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals should contact the bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority (HKMA) issued a public alert about a fraudulent website and internet banking login screen linked to The Hongkong and Shanghai Banking Corporation Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
The Hong Kong Monetary Authority has launched the 2025 Green Fintech Competition, co-hosted with the Hong Kong Institute of Bankers and other partners, to invite green fintech solutions for sustainability-related use cases in the financial industry. The competition will evaluate entries across five themes, including sustainable supply chains and climate risk modelling. Winners will present at the Green Fintech Symposium during Hong Kong Green Week.
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens reported by Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals affected are advised to contact Chong Hing Bank and report to the Police.
The National Bank of Bulgaria and Bulgaria’s Economic and Social Council signed a memorandum to enhance coordination for Bulgaria's euro area accession and euro introduction. The agreement aims to leverage the Council's platform for stakeholder engagement, drawing on the central bank's expertise for related communications. Future initiatives will focus on the impact of euro area entry on education, incomes, and job prospects for young people.
The Isle of Man Financial Services Authority has de-registered Phildraw Properties Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 9 May 2025.
The UK Parliament announced that the Property (Digital Assets etc.) Bill has completed its legislative process and received Royal Assent, becoming an Act of Parliament. The Act establishes that digital assets like crypto-tokens and non-fungible tokens can attract property rights, though it does not classify any specific category as property.
The Federal Reserve Bank of Cleveland released President Beth Hammack's speech titled "The Outlook for the Economy and Monetary Policy," presented at the Hoover Institution on May 9, 2025.
The Qatar Central Bank announced that international reserves and foreign currency liquidity reached QAR 257.1 billion in April 2025, with international official reserves rising 4.6% year-on-year to QAR 197.9 billion.
The Liechtenstein Financial Market Authority has updated its guidance to align with Regulation (EU) 2023/1114 on markets in crypto-assets (MiCAR) and the EEA MiCA Implementation Act, updating terminology. Changes to Articles 7 and 25 DDO incorporate electronic identification per the eIDAS Regulation and provide additional explanations on delegation. The amendments clarify Adverse Media Screening procedures, allowing limited subsequent screening for due diligence subjects that cannot be "white listed."
The European Central Bank released the Eurosystem’s weekly consolidated financial statement, reporting total assets and liabilities of EUR 6,301,244 million, a decrease of EUR 12,358 million from the previous week. Key changes include a EUR 4,994 million reduction in lending to euro area credit institutions and a EUR 15,366 million increase in the deposit facility. The statement noted a decline in banknotes in circulation and liabilities to non-euro area residents.
The Ministry of Finance (Brunei Darussalam) reported that Minister Dr Awang Haji Mohd Amin Liew attended the ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting and the ADB Annual Meeting in Milan, where regional authorities endorsed a joint statement. Brunei highlighted policy priorities like renewable energy, food security, and digital transformation, emphasizing unity amid global uncertainty. The minister also discussed Brunei's economic outlook and potential cooperation with ADB President Masato Kanda.
The New Zealand Financial Markets Authority reported that the Court of Appeal upheld the conviction in the Pushpay insider trading case, increasing the fine to NZD 200,000 and dismissing the appeal for name suppression, which remains interim for seven days. The case involved insider information about former Pushpay co-founder Eliot Crowther's resignation and share sell-down, with the defendant convicted in August 2023 and sentenced to community detention.
The New York State Department of Financial Services announced the FY26 budget, expanding its oversight to include pharmacy benefit managers and granting authority to regulate Buy Now, Pay Later loans. The budget also introduces measures to stabilize New York’s for-hire vehicle insurance market, addressing livery insurance challenges and enhancing drivers' access to reliable coverage options.
The New York State Department of Financial Services announced FY 2026 consumer protection measures covering online subscriptions, e-commerce returns, BNPL lending, and algorithm-driven pricing. Key provisions include subscription renewal notifications, clear online return policies, a BNPL licensing framework, and algorithmic pricing disclosures. The measures also target overdraft fee reforms to eliminate exploitative banking fees and improve customer communications.
The Vietnam State Securities Commission is seeking price quotations from providers for equipment and services to aid in preparing a feasibility study report for a centralized sector-specific data warehouse project.
The Republic of Serbia Securities Commission updated guidelines for assessing money laundering and terrorism financing risks, aligning with the 2024 National Risk Assessment and recent legal amendments. These guidelines apply to entities under its supervision, including investment firms and digital token service providers, and include revised indicator lists and updated questionnaire templates. The Commission encourages reporting entities to familiarize themselves with these updates.
The Central Bank of Estonia has launched its annual economic research award competition in memory of Urmas Sepp, inviting master's and doctoral-level researchers with ties to Estonia to participate. The awards, EUR 3,000 for PhD-related research and EUR 2,000 for master's-level research, aim to recognize outstanding academic contributions. The bank reserves the right to withhold awards if submissions do not meet quality standards.
The Albania Financial Services Authority will assess the suitability of private pension fund managers and depositary banks at its board meeting on 21 May 2025, in line with Law No. 76/2023. The agenda includes evaluations for Credins Invest, Sigal Uniqa Invest, and related pension funds, as well as depositary activities of Banka Credins and Banka Kombëtare Tregtare. Licensing proposals and governance approvals for financial entities will also be reviewed.
The Securities and Exchange Regulator of Cambodia conducted its 29th Examination in the Securities Sector for various firms, including securities business and derivative business firms. A total of 99 candidates participated, with 15 being foreign candidates. Results are expected by 23 May 2025.
The Swiss National Bank (SNB) is transferring CHF 890.6 million to Fondssuisse, the Confederation, and the cantons, representing 90% of the unexchanged value of sixth-series banknotes recalled by 30 April 2025. This allocation follows the Federal Act on Currency and Payment Instruments, which mandates distribution 25 years post-recall. The SNB retains CHF 99.0 million to fulfill its unlimited exchange obligation.
The Philippine SEC was recognized for reforms aiding the country's exit from the FATF grey list. Key measures included enhancing beneficial ownership transparency, prohibiting bearer shares, and implementing an amnesty program, raising compliance rates. The SEC plans to sustain these reforms and address emerging AML/CFT risks, with the launch of the HARBOR registry for beneficial ownership updates.
The Financial Services Regulatory Authority of Ontario (FSRA) warned against Donald Newton Mason, Mason Built Financial Inc., Mason Built Financials, and 1000111224 Ontario Inc., stating they are unlicensed for mortgage brokering in Ontario. FSRA highlighted risks of dealing with unlicensed entities, including reduced legal protections and unsuitable mortgage advice. Consumers, especially seniors, have been targeted to downsize and invest home sale proceeds with these parties. FSRA urged verification of licensing through its public registry.
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding the website “defi.qtnimint.top”, falsely claiming to be licensed as a securities dealer. Qtum (SC) Ltd is not authorized by the FSA, and the website is not linked to any FSA-regulated entity. The FSA advises caution and will not be liable for any losses incurred.
The Central Bank of the Republic of Kosovo reported on a two-day visit by its Internal Audit delegation to the Bank of Albania, aimed at enhancing inter-institutional cooperation and internal audit practices. Discussions with senior Bank of Albania officials focused on audit capacity development, risk management, and transparency. Both parties expressed commitment to intensifying cooperation in areas of mutual interest.
The Central Bank of Nigeria's April 2025 Business Expectations Survey indicates optimism among firms regarding macroeconomic conditions, driven by expectations of exchange rate stability and naira appreciation. The Confidence Index rose from 22.3 in April to 42.8 over six months, with Agriculture showing the highest sector confidence. Firms anticipate higher borrowing rates and cite high interest rates, insecurity, and taxes as major constraints.
The Thailand SEC, Bank of Thailand, and Office of Insurance Commission launched the "Responsible Voices for Finfluencer" project to enhance finfluencers' understanding of financial, investment, and insurance topics. The initiative aims to mitigate risks from miscommunication and promote responsible communication standards. Fifty participants were selected for the first class, with training sessions scheduled in May 2025.
The Central Bank of Nigeria's April 2025 Household Expectations Survey shows pessimistic consumer sentiment, with a Consumer Outlook of -15.3 and a price-change sentiment of -22.8. Despite negative perceptions of current financial situations and economic conditions, macroeconomic expectations improve, reaching 10.0 by October 2025. Housing-related costs show significant pressure, with high index points for house purchases and rents both currently and in future projections.
The Central Bank of Nigeria reported a composite Purchasing Managers’ Index (PMI) of 52.2 for April 2025, indicating economic expansion for the fifth consecutive month. The report highlights moderate strengthening across sectors, with Output, New Orders, and Employment indices rising, despite margin pressures from input costs outpacing output prices. Among 36 subsectors, 22 showed growth, led by Transportation Equipment, while 14 contracted, with Paper Product experiencing the largest drop.
The Central Bank of Nigeria's April 2025 Inflation Expectations Survey Report shows most respondents view current inflation as high, expecting it to remain unchanged next month but likely to increase over the next three to six months. Energy and transportation costs drive inflation perception, with large firms most likely to see inflation as high. Households and businesses anticipate increased expenditure over the next six months, with expectations moderating slightly over longer horizons.
HM Treasury's inaugural report on the Economic Crime (Anti-Money Laundering) Levy details GBP 90.715m collected from 2,927 entities in 2023-24, with GBP 90m allocated to anti-money laundering initiatives. Due to a shortfall, a rate increase for 'very large' entities to GBP 500,000 will be implemented from April 2024, with future collections projected at GBP 115m annually. The report outlines ongoing discussions for allocations from 2026-27 to 2028-29 and plans for a comprehensive review by 2027.
Central Bank of Iceland Governor Ásgeir Jónsson outlined the strategy of combining tight but gradually normalizing monetary policy with macroprudential and supervisory tools to tackle inflation, housing pressures, and capital-flow risks. The policy rate, reduced to 7.75% after four cuts, remains restrictive with a real rate near 4%. The Bank favors macroprudential measures over capital controls, highlighting tools like high bank capital ratios, borrower-based limits, and foreign exchange interventions.
The Egypt Financial Regulatory Authority announced a near-term rulemaking agenda for the insurance market, focusing on consumer protection, complaints handling, and risk-based capital solvency rules. Planned governance rules will address board composition, diversity, and committee organization. The Authority also highlighted measures under the Unified Insurance Law, including capital requirements, investment rules, and increased microinsurance coverage limits.
The Norwegian Financial Supervisory Authority's inspection of DNB Bank ASA's DNB Finance division found deficiencies in credit risk management, especially in debt-servicing capacity calculations and documentation. The report calls for clearer policies on income assessment, co-borrower use, and complaint handling, with a separate review of the car-dealer loan commission model. DNB's board plans updates to routines and training, focusing on complaint processes in 2025.
The Financial Supervisory Authority of Norway (Finanstilsynet) released an inspection report on Nordea Finans Norge AS and Nordea Finance Equipment AS, identifying complex credit frameworks and deficiencies in debt-servicing capacity assessments. The report highlights a system error allowing loans without proper interest-rate stress tests, inadequate affordability assessments, and issues in complaint handling and arrears processes. Finanstilsynet plans further follow-up on these findings, including separate cases on affordability calculation errors and the loan distribution commission model.
At the “Connecting green credit – green industrial parks” forum, the State Bank of Vietnam emphasized the need for a national green classification list to facilitate green lending and project appraisal. Credit institutions have increased green credit activities, with outstanding green credit reaching over VND 704.244 trillion as of March 2025. Future steps include enhancing the legal framework for green credit and improving transparency in environmental criteria and project preparation.
The Financial Supervisory Authority of Norway released an inspection report on Storebrand Livsforsikring AS, highlighting the need for improved governance, independent monitoring, and risk management of ICT systems, including outsourced services. The report calls for enhanced contingency testing, formal change control processes, and sufficient ICT resources. Finanstilsynet also requested board meeting minutes discussing the report and asked the firm to share it with its auditor.
The Chile Financial Market Commission announced its centennial programme for banking regulation, featuring the 2025 Annual Conference on "100 Years of Banking Supervision" on 26–27 June. The programme includes a website section with historical banking documents, a Virtual Museum, and guided visits to the Institutional Library. Additional events include a reflection session with former Superintendents and joint activities for Financial Education Month in October.
The Commodity Futures Trading Commission (CFTC) filed a complaint against Dean S. Dellas and DSD Capital Management, LLC, alleging fraud and misappropriation in commodity trading advisory activities. The CFTC seeks restitution, disgorgement, civil penalties, and permanent bans for Commodity Exchange Act violations. A parallel criminal case has been initiated, with the U.S. Attorney’s Office charging Dellas with wire fraud and aggravated identity theft.
The China Securities Regulatory Commission (CSRC) released its 2025 legislative work plan, outlining 19 projects to enhance the capital markets legal framework. The plan prioritizes tighter supervision, market stability, and investor protection, addressing securities advisory services, derivatives trading, and information disclosure. It includes coordination with State Council departments and judicial authorities on related regulations and interpretations.
The Argentina Securities Commission (CNV) has launched a public consultation on a proposal to establish a special regulatory regime for open-end mutual funds and financial trusts to manage the Labour Termination System. This framework, under Annex II to Decree No. 847/2024, offers an alternative to traditional severance pay, allowing funds to be structured through collective bargaining agreements and protected from attachment. The proposal outlines conditions for fund contributions, investment policies, and the issuance of trust securities.
The China Banking and Insurance Regulatory Commission, with the People’s Bank of China and the China Securities Regulatory Commission, held a meeting on financial consumer and investor protection. They reviewed cross-market issues, rule updates, and international cooperation, emphasizing joint policy development, dispute resolution, and enhanced information-sharing for better supervision.
China's National Financial Regulatory Administration issued the Measures for Petition Work, effective 1 June 2025, detailing procedures for handling public petitions and complaints. The measures, comprising six chapters and 52 articles, enhance supervisory guidance and emphasize mediation and settlement in financial dispute resolution. Financial institutions are responsible for resolving conflicts, focusing on reasonable and lawful demands.
At the 10th Regional Insurance Congress in Córdoba, the Argentina Superintendency of Insurance emphasized "regulate less and supervise more." Valeria Hirschhorn, General Coordination Manager, highlighted a shift towards agile, transparent, and effective supervision, with "intelligent supervision" as a key tool for improvement. Discussions included non-traditional lines, agricultural, motor, assistance services, and technological innovation.
The National Bank of Moldova released a video series on its role in Moldova's European integration, focusing on financial stability, banking modernization, and aligning with EU standards. It covers EU negotiation chapters on capital movement, financial services, and economic policy, highlighting benefits like capital mobility and digital banking transformation. Moldova became an EU candidate on 23 June 2022, with accession negotiations starting on 14 December 2023.
The Bank of Korea's preliminary balance of payments data for March 2025 indicates a current account surplus of USD 9.14 billion, with net assets in the financial account rising by USD 7.82 billion.
The Central Bank of Mongolia has introduced Climate-Related Financial Disclosure Guidelines for local financial institutions to enhance transparency in climate risk reporting. Developed with international partners and aligned with International Financial Reporting Standards S1 and S2, the guidelines include a voluntary reporting template to improve data quality and capacity through a "learning-by-doing" approach.
The Central Bank of Mongolia held a workshop to present its "Discussion Paper on Environmental, Social, and Governance (ESG) in Mongolia," developed with UNESCAP. The paper suggests Mongolia is building its ESG regulatory infrastructure but needs further alignment with international standards, including enhancing legal frameworks and risk-based supervision. The session addressed international ESG standards, risk methodologies, and Mongolia's ESG disclosure system, gathering participant feedback.
The Isle of Man Treasury updated the UK Russia sanctions list, adding nine new entries and specifying 101 vessels subject to asset freeze and shipping sanctions. Firms must freeze assets of designated persons, verify against the UK sanctions list, and report breaches to the Financial Intelligence Unit. Specified ships face entry prohibitions and registration restrictions in the UK and Isle of Man, with no Oil Price Cap exceptions applicable.
The Central Bank of Barbados announced a staff-level agreement with the International Monetary Fund (IMF) for additional financing of approximately USD 57 million, pending IMF Executive Board approval. The IMF's fifth review of Barbados’ Extended Fund Facility and Resilience and Sustainability Facility confirmed all performance criteria were met, with reforms integrating climate considerations into public financial management.
The Bank of Cape Verde has integrated environmental, social, and governance measures, inaugurating a solar photovoltaic park and installing electric vehicle charging points. The solar installation, with a capacity of 161.8 kWp, has reduced energy consumption by 40% and is expected to pay back in 3 years and 5 months. Additional initiatives include investments in sustainable financial instruments, energy optimization, and reducing plastic use.
At the 88th Banking Convention, Mexico's Central Bank Governor, Victoria Rodríguez Ceja, emphasized banking priorities, market functioning, and digital payments. She highlighted initiatives like new bank licenses, financial technology institutions, transparency tools, and electronic payments expansion. Future priorities include improving digital payment infrastructure, enhancing SPEI services, and addressing cybersecurity, data risks, financial inclusion, and climate-related exposures.
The Federal Court ordered HCF Life Insurance to pay a AUD 750,000 penalty and publish corrective disclosures online after finding a misleading pre-existing condition term in its policies. The term suggested denial of cover based on later medical opinions without a diagnosis, contrary to section 47 of the Insurance Contracts Act 1984. Although HCF Life had sent corrective notices, further online disclosure was mandated. The Court dismissed ASIC's claim of an unfair contract term under the ASIC Act 2001.
The Central Bank of Timor-Leste reported capital movement of USD 1.81 million, with no transfer to the state budget and a return of USD -174.62 million.
Saudi Arabia’s Capital Markets Authority has authorized Hamah Capital Company to manage investments and operate funds in the securities business, following the completion of commencement requirements under the Capital Market Law and its Implementing Regulations.
The Financial Superintendence of Colombia highlighted Superintendent César Ferrari's advocacy for enhanced associativity and cooperativism in agriculture to boost development. Ferrari noted the success of an eight-month "credit pact" with banks, emphasizing agriculture as a priority sector. He cautioned against raising interest rates, suggesting cost reductions to lower lending rates and support rural economic profitability.
Felipe Noval of Colombia's Financial Superintendence highlighted technological innovation's role in financial inclusion and stability at the AWS Financial Services Symposium 2025. By end-2024, 82.2% of transactions were digital, with mobile apps leading. Priorities include improving digital infrastructure, expanding credit, addressing payment interoperability, and advancing open finance.
Belgium’s Financial Services and Markets Authority (FSMA) is now responsible for overseeing issuer compliance with the European Green Bond (EuGB) standard under the EU Green Bonds Regulation. The FSMA has supervisory and enforcement powers, including requiring issuers to publish EuGB documentation and intervening in offers or trading of EuGBs. Issuers must adhere to transparency requirements, including enhanced disclosures and external reviews, with the European Securities and Markets Authority (ESMA) overseeing external reviewers.
The Bank of Greece reported a 2024 travel services surplus of EUR 18,787.0 million, a 3.4% increase from 2023, driven by a 4.8% rise in travel receipts to EUR 21,592.3 million. EU27 residents contributed significantly to receipts growth, while cruise receipts surged 22.4% to EUR 1,112.2 million. Personal travel dominated receipts at 93.5%, with business travel receipts increasing their share to 6.5%.
The Bank of Israel has initiated a Technological Consultation to explore the feasibility and implementation options for a Digital Shekel System, seeking input from vendors, technology experts, and academics across six key areas. An explanatory webinar is scheduled for May 21, 2025, as part of the assessment process for a potential Central Bank Digital Currency (CBDC) issuance, with no decision yet made.
The Italian Securities Commission (Consob) has blocked seven websites, including giorgetti-invest.com, for unauthorized financial intermediation and misuse of public figures' images. This action, citing powers under the "Growth Decree" and "Capital Markets Law," brings the total number of sites blocked since July 2019 to 1,311. Consob advises investors to ensure service providers are authorized and have published necessary documentation.
The Danish Financial Supervisory Authority reported 248 cases of suspected market abuse in 2024, with 144 involving insider dealing and 86 market manipulation. Four cases were referred to the police, and enforcement actions included four reprimands, orders, and three fines for disclosure breaches. The decline in police referrals is linked to fewer complex insider dealing cases and reduced wash trading incidents.
The Danish Financial Supervisory Authority has ordered AkademikerPension to enhance monitoring of older pension products not covered by the Product Oversight and Governance (POG) regime and to strengthen POG arrangements for products offered post-2018. This marks the first direct order to a pension fund to improve oversight of legacy products under the good business practice framework.
The Financial Conduct Authority (FCA) has appointed David Geale as permanent Managing Director of the UK Payment Systems Regulator (PSR) and Executive Director for Payments and Digital Finance. Geale will oversee the National Payments Vision, open banking, and digital finance, and play a key role in the PSR's consolidation into the FCA. His remit includes supervising payments and cryptoasset firms and addressing push payment fraud and card processing fees.
ASIC has released Regulatory Guide 281 to help BNPL providers comply with new laws effective 10 June 2025. It details compliance for BNPL contracts as low-cost credit contracts, including modified lending obligations, and incorporates feedback from 16 stakeholders. This complements the Treasury Laws Amendment Act 2024, extending the National Credit Code to BNPL contracts. ASIC urges unlicensed BNPL providers to apply promptly to avoid unlicensed conduct.
The Spanish Securities Commission (CNMV) released its 2024 Annual Report, highlighting a 14.4% increase in equity trading to EUR 717.383 billion and a 15% rise in assets managed by collective investment institutions to over EUR 430 billion. The report notes intensified supervisory efforts, including over 1,800 information requests and 51 fines totaling EUR 12.3 million, alongside the launch of a new investor protection and financial education department.
The Reserve Bank of India released a Framework for Formulation of Regulations, emphasizing transparency, public consultation, and impact analysis. It outlines a comprehensive process for developing and amending regulatory instruments, including public drafts, impact analyses, and stakeholder feedback. Exceptions apply for internal matters, procedural changes, or urgent interventions, with existing regulations remaining valid despite non-adherence to the framework.
Ukraine’s National Commission on Securities and Stock Market has removed GONZO INVEST LLC from its list of dubious investment projects after the firm completed the licensing process and obtained permission to provide investment advisory services. Gonzo Invest was initially listed as a SCAM project in August 2023 due to licensing issues. The Commission will continue monitoring market participants to ensure investment security.
De Nederlandsche Bank published analyses on the impact of elevated global uncertainty, linked to US trade policies and geopolitical tensions, on the Netherlands. The research highlights that uncertainty shocks weaken economic sentiment and real-economy indicators, while strong bank capitalisation mitigates financial-market correction risks. The findings support maintaining capital requirements during high uncertainty to bolster economic growth.
The Securities and Exchange Commission of Pakistan reported 2,956 new company registrations in April 2025, bringing the total to 252,321, with 99.9% processed digitally. Private limited companies made up 56% of new registrations, and sectoral growth was led by information technology and e-commerce. SECP plans to enhance digital infrastructure and streamline processes to support entrepreneurship and investment.
The Securities and Exchange Commission of Pakistan has initiated awareness sessions for business graduates on corporatization and business registration, highlighting recent digital enhancements for streamlining company incorporation. The program includes interactive discussions and demonstrations of SECP's digital tools, like the eZfile portal. This initiative aims to promote corporate governance and financial accountability among future entrepreneurs.
Mexico's Ministry of Finance, the Bank of Mexico, and the Mexican Banking Association signed an agreement to boost SME financing by 3.5% annually. This addresses low bank credit penetration among SMEs, which constitute 99.8% of establishments and 70.6% of employment. The Finance Minister highlighted 2024 foreign direct investment of USD 36,872 million and federal public debt at 49.2% of GDP.
The National Bank of Georgia released a second draft of Georgia’s Fintech Development Strategy, incorporating feedback from public and private stakeholders. The revised framework includes strategic goals and key performance indicators linked to priority actions, with a detailed action plan under development. Further comments are invited as the strategy and action plan are finalized.
The National Bank of Georgia's Governor, Natia Turnava, met with the Hungarian Women’s Leadership Organization to discuss Georgia’s macroeconomic environment and financial sector. The meeting emphasized cooperation with the Central Bank of Hungary and highlighted Georgia's investment climate and free trade agreements. The Hungarian delegation expressed interest in exploring business opportunities in Georgia.
The Algeria Market Authority said it held a joint forum with Constantine 02 University on financing the national economy outside traditional channels. The event included presentations by COSOB officials and other speakers, and ended with a cooperation agreement between COSOB and the university. COSOB linked the initiative to financial inclusion, financial education and wider use of markets to finance projects and innovation.
Governor Anita Angelovska-Bezoska of the National Bank of the Republic of North Macedonia stated at a World Bank conference that the economy is recovering, but incomes are only 42% of the European level, requiring structural reforms for faster convergence. She stressed the need for investment in human capital, physical capital, and productivity to tackle growth challenges. The central bank supports financial-sector innovation through an Innovation Centre, a national fintech strategy, and a payments regulatory framework aimed at SEPA membership.
The Bank of Italy released the recording and English text of Deputy Director General Chiara Scotti's keynote address on cross-border payments at the Reykjavík Economic Conference 2025. The event was co-organised by the Central Bank of Iceland and Northwestern University’s Center for International Macroeconomics.
The Bank of Italy released Deputy Governor Chiara Scotti’s keynote address, “From Magma to Masterpiece: Forging the Future of Cross-Border Payments,” delivered at the Reykjavík Economic Conference 2025. The event is co-hosted by the Central Bank of Iceland and the Center for International Macroeconomics at Northwestern University.
Bermuda's Ministry of Finance reported on Premier David Burt’s participation in the 2025 Bermuda Digital Finance Forum, highlighting discussions on Bermuda’s digital asset strategy and stablecoin adoption for economic growth. Premier Burt engaged with industry leaders, including Anthony Scaramucci of SkyBridge Capital, and explored AI and digital identity collaborations with Near AI.
The Federal Reserve Bank of New York’s April 2025 Survey of Consumer Expectations shows unchanged short-term inflation expectations, increased medium-term expectations, and decreased long-term expectations, with heightened inflation uncertainty. Home price growth expectations rose to 3.3%, while expected price changes for gas, medical care, college, and rent also increased. Labour market and household financial outlooks worsened, with expected earnings and income growth declining, and the probability of higher unemployment and missing debt payments rising.
The Bank of Finland advocates for a Finnish instant payment solution based on real-time credit transfers to enhance secure, versatile, and reliable payment methods. Board Member Tuomas Välimäki highlighted the need for additional payment alternatives due to geopolitical tensions, emphasizing benefits such as stronger governance and data protection. Välimäki called for collaboration across the payments value chain to initiate progress.
The Financial Services and the Treasury Bureau of Hong Kong announced the reappointment of Mr Carlson Tong Ka-shing as Chairman of Hong Kong Exchanges and Clearing Limited (HKEX), effective immediately. His term will end with the conclusion of the 2027 Annual General Meeting. This follows his re-election by the HKEX Board and complies with the statutory requirement for Chief Executive approval.
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators (SBS) approved a regulation expanding transactions through basic operations establishments (EOB) and removing the need for prior SBS authorisation for correspondent agents. Issued via SBS Resolution No. 01661-2025, it allows EOB to conduct credit disbursements, credit evaluations, and open various accounts, with entities required to set operational limits and notify the SBS. Non-compliance may result in suspension or prudential limits, and entities must update internal processes to align with new requirements.
The Hong Kong Securities and Futures Commission (SFC) announced that the Eastern Magistrates’ Court has scheduled a pre-trial review for 24 July 2025 in the case against Mr. Chau Pak Yin. Chau is accused of advising on securities without a licence via a Telegram chat group between April and May 2021, violating the Securities and Futures Ordinance.
The Austria Financial Market Authority's 2024 Annual Report highlights the stability and profitability of Austria’s financial sector despite economic challenges, while cautioning about rising insolvencies affecting banks' credit quality. It emphasizes regulatory focus on crypto-assets, cybersecurity, and climate risks, with commercial real estate as a supervisory priority for 2025. The report notes the full applicability of the EU's Markets in Crypto-Assets Regulation and Digital Operational Resilience Act, focusing on consumer protection and anti-money laundering in crypto-asset services.
The Philippines Department of Finance announced the country's removal from the Financial Action Task Force grey list, ending increased monitoring since June 2021. President Ferdinand R. Marcos, Jr. praised government efforts, highlighting strengthened safeguards against money laundering and terrorist financing. Finance Secretary Ralph G. Recto emphasized the positive impact on financial system confidence and benefits for overseas Filipino workers and businesses.
The Agency for Regulation and Development of the Financial Market of Kazakhstan issued guidance for retail borrowers on due diligence before signing microcredit agreements. Key points include verifying MFO licensing, ensuring clear contract terms, and understanding statutory limits on interest rates and penalties. Borrowers are advised of their rights to early repayment, review of terms, and escalation of disputes, and are cautioned about additional services that may increase total repayments.
Kazakhstan's Financial Market Agency proposed amendments to the Law on Banks to boost economic activity and fintech. Key measures include basic and universal bank licenses, expanded bank equity in fintech, and simplified regulatory sandbox access. The reforms also streamline bank regulation, develop Islamic finance, enhance consumer protection, and increase banking stability.
The Insurance Payments Guarantee Fund JSC, backed by Kazakhstan's financial market regulator, launched an online service for consumers to compare insurance offerings. It provides product information and direct access to insurers’ websites, emphasizing consumer due diligence in reviewing contract terms. Kazakhstan's insurance sector includes 25 companies, with product terms detailed in insurers' published rules.
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens related to The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who have interacted with these fraudulent sites should contact the bank and report to the Police.
The Hong Kong Monetary Authority reported a decrease in Hong Kong's official foreign currency reserve assets to USD 408.7 billion at the end of April 2025, down from USD 412.5 billion in March. Including unsettled foreign exchange contracts, the reserves were USD 407.9 billion, equivalent to over five times the currency in circulation or about 36% of Hong Kong dollar M3. The HKMA also announced its Exchange Fund data release schedule for May 2025.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Police.
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Police.