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2025-05-05•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority will host its annual conference on 15 May 2025, coinciding with the 50th Annual Meeting of IOSCO. The conference will address digital transformation in capital markets, Islamic finance's role in sustainable investment, SME connectivity to capital markets, and market conduct and investor protection. Keynote speakers include IOSCO Board Chair Jean-Paul Servais and Masamichi Kono of MUFG Bank, with sessions covering topics such as green sukuk, SME credit gaps, and challenges related to AI and virtual assets.
Policy & regulationCooperationFintech and insurtechMarket development
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2025-05-05•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority will host a one-day conference on 15 May 2025 in Doha, coinciding with the International Organization of Securities Commissions' 50th Annual Meeting. The event will focus on digital transformation in capital markets, Islamic finance, SME market access, and investor protection. Keynote speakers include IOSCO Board Chair Jean-Paul Servais and Masamichi Kono, with sessions on SME empowerment and investor protection.
Policy & regulationCooperationFintech and insurtechMarket development
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2025-05-05•Qatar•Qatar Financial Markets Authority
The Qatar Financial Markets Authority (QFMA) will hold its annual conference on 15 May 2025, focusing on digital transformation, Islamic finance, SME capital access, and investor protection. The event coincides with Qatar hosting the IOSCO 50th Annual Meeting from 12 to 14 May, with preparations for discussions on cybersecurity and market sustainability. Keynote speakers include IOSCO Board Chair Jean-Paul Servais and Masamichi Kono, with sessions featuring senior representatives from international regulatory bodies.
Policy & regulationCooperationFintech and insurtechMarket development
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2025-05-05•Kazakhstan•National Bank of Kazakhstan
The National Bank of Kazakhstan has released "Great Victory. 80 Years" collectible coins as part of its "Memorable Events and Unique People" series. The issuance includes a limited edition KZT 1,000 silver coin and a high-volume KZT 200 bicolor coin for everyday use. Collectible coins are legal tender in Kazakhstan and can be used for payments, exchanges, and deposits at face value.
Monetary policyOther
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2025-05-05•Denmark•National Bank of Denmark
The National Bank of Denmark reported that Danish insurance and pension companies purchased DKK 21 billion in European equities in Q1 2025, reversing their trend with a net sale of nearly DKK 5 billion in US shares. Purchases focused on Danish, German, French, British, and Swiss equities. Despite the net sale, US equities still comprised 53% of their DKK 1,320 billion portfolio, with European shares at 29%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-04•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority has suspended Mekyal Financial Technologies Company's licence for Arranging activity in securities and cancelled its FinTech Experiment permission for debt instruments, citing market safety and investor protection. This action follows ongoing supervision and concerns over the accuracy and reliability of Mekyal's disclosures, under clause (b) of Article 62 of the Capital Market Law.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-04•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority confirmed that Nama Ventures Capital Company has fulfilled the requirements to begin managing investments in the securities business, following a licence issued by a CMA resolution on 04 September 2024.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-04•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force (MENAFATF) has begun its 40th Plenary and Working Group meetings in Amman, hosted by Jordan from 4 to 8 May 2025, with senior officials and observers discussing anti-money laundering and counter-terrorist financing. A high-level workshop on changes in Financial Action Task Force standards and upcoming mutual evaluations will also take place.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-05-04•Middle East•Middle East and North Africa Financial Action Task Force (MENAFATF)
The Middle East and North Africa Financial Action Task Force (MENAFATF) has commenced its 40th Plenary and Working Group meetings in Amman, hosted by Jordan from 4 to 8 May 2025, focusing on combating money laundering, terrorist financing, and weapons proliferation financing. A high-level workshop will address changes in Financial Action Task Force standards and upcoming mutual evaluations.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-05-04•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain held a workshop on "Legal Professionals Account Opening Guidance," detailing the process for retail banks to open accounts for lawyers and law firms per new Ministry of Justice requirements. Legal professionals must have dedicated accounts for client payments, opened only after obtaining a no-objection certificate with Know Your Client information. The Central Bank plans to issue further guidance and hold annual workshops to update licensees on regulatory developments.
Policy & regulationGuidance & interpretationKYC
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2025-05-04•Barbados•Central Bank of Barbados
The Central Bank of Barbados released a policy paper evaluating the macroeconomic impact of the 2025 US global tariff hikes on Barbados, projecting real GDP losses of 1.27–2.33 percent under adverse scenarios. The paper highlights potential contractions in goods exports and tourism, with significant GDP reductions and inflationary pressures due to reliance on US imports. It also notes fiscal constraints from the fixed exchange rate and potential fiscal stress from rising public debt and subsidy costs.
ResearchCross-border paymentsMarket development
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2025-05-03•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye announced macroprudential changes to support the transition to the Turkish lira, including higher reserve requirements on foreign currency liabilities and incentives to increase TRY deposit shares. FX deposit reserve requirements rose by 200 basis points, and FX repo transactions by 400 basis points. Additionally, the minimum share of export proceeds to be sold to the CBRT is set at 35%, with a 3% FX conversion support rate until July 2025.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-05-03•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has launched a daily bulletin, "International financial and monetary market developments," providing in-depth updates on global foreign exchange, equities, gold, and related markets. Available on Thoibaonganhang.vn, the bulletin aims to offer reliable information amid increased market volatility due to geopolitical tensions, U.S. tariff policy, and central bank responses.
Policy & regulationImplementation, projects & pilotsFinancial and market indicatorsMonetary data
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2025-05-02•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's April 2025 Financial Stability Report highlights robust macrofinancial conditions and a stable National Financial System, supported by strong economic performance and fiscal consolidation. Despite rising external risks, credit activity grew at double-digit rates, with well-capitalised banks and stable asset quality. Stress tests indicate high resilience, though the report emphasizes monitoring global and climate risks.
Monetary policyMonetary policy assessments & outlooksFinancial stability and systemic risk
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2025-05-02•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua's February 2025 Indicators report highlights the banking system's robust liquidity and solvency, with credit and public deposits experiencing double-digit growth. Public deposits rose by 10.6% to NIO 248,241.3 million, and the loan portfolio grew by 20.6% to NIO 219,212.3 million. Asset quality improved, with a past-due loan ratio of 1.4%, and profitability metrics like return on equity and assets also showed positive trends.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-02•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported a 20.47% year-on-year increase in the current account deficit to EUR 175.63 million for January to February 2025, mainly due to a deeper goods trade deficit. The goods trade deficit rose 21.48% as exports decreased by 1.01% and imports increased by 17.71%. Offsetting inflows included a 32.74% rise in the services account surplus and a 3.77% increase in the secondary income surplus, supported by remittances totaling EUR 291.65 million in the first quarter.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has issued its Prevention of Money Laundering and Terrorist Financing Directive 2025, published in the Official Gazette. The Directive is accompanied by an announcement, a guide, and FAQs to clarify its key provisions.
Policy & regulationRules & requirementsAML and CFT
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2025-05-02•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority (DFSA) issued Consultation Paper No. 166 proposing to remove outbound public offers of securities from the Dubai International Financial Centre (DIFC) from its regulatory perimeter, citing duplication with target-jurisdiction requirements. This would eliminate the Markets Law prospectus requirement and related obligations for such offers and disapply financial promotion rules. The DFSA plans to amend the Markets Law, Markets Rules, Islamic Finance Rules, and General Module following consultation.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-05-02•Australia•Australian Securities & Investments Commission
ASIC has cancelled Brite Advisors Pty Ltd's financial services licence after the CSLR paid AUD 21,888.20 for an unpaid AFCA determination. This action is mandatory when CSLR compensates for an AFCA ruling. Brite Advisors must stay an AFCA member for 12 months. ASIC is investigating Brite Advisors, following similar licence cancellations.
SupervisionAuthorisations & approvalsOther
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2025-05-02•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority released Communication FSMA_2025_07, detailing an updated cartography of Insurance Distribution Directive activities and new reporting rules effective from 30 June 2025. The document is available in Dutch and French.
Policy & regulationRules & requirementsRegulatory reporting
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2025-05-02•Italy•Italian Securities Commission (Consob)
The Italian Securities Commission (Consob) released Statistical Bulletin No. 26, highlighting a shift towards equities in portfolios and custody deposits with Italian intermediaries in 2024. The total value of financial instruments reached EUR 4,052bn, a 3.4% increase year-on-year, with notable rises in shares and investment funds. Italian asset management companies reported a net profit increase to over EUR 1,865m, driven by higher net fees, while investment firms saw profits rise to EUR 98.7m due to improved trading results and reduced operating costs.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-02•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has launched a consultation on draft Regulatory Technical Standards under the EU ESG Rating Regulation. The standards propose operational and disclosure requirements for ESG rating providers, including measures to mitigate conflicts of interest and information disclosure obligations.
Policy & regulationRules & requirementsESG
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2025-05-02•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay's President, Guillermo Tolosa, highlighted Uruguay's strategic risk management and monetary policy at the IMF and World Bank Spring Meetings. Key points included robust central bank reserves, high bank capital and liquidity ratios, and a shift towards renewable energy. Tolosa also emphasized de-dollarisation measures and reducing price indexation to the exchange rate amidst global challenges.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-05-02•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority announced that Deputy Director Karen Dortea Abelskov will depart at the end of May 2025 to become Finance Director at the Danish Ministry of Industry, Business and Financial Affairs. Abelskov has been with the authority since 2009, serving in various roles including Deputy Director overseeing capital markets supervision since 2018.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority has authorized Wayfoong (Asia) Limited, a subsidiary of HSBC Group, as the first captive insurer formed by a multinational in Hong Kong. This supports Hong Kong's development as a captive domicile and risk management center, with policy incentives like a 50% tax concession for local captive insurers. The Financial Services and the Treasury Bureau plans to revisit policy tools to attract more multinationals to establish captives.
SupervisionAuthorisations & approvalsLicence approval
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2025-05-02•Panama•Panama Superintendencia del Mercado de Valores
Panama’s Superintendency of the Securities Market issued a press note regarding the performance of the securities market.
SupervisionRisk monitoring & watch points
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2025-05-02•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the resumption of trading in Aedifica’s financial instruments (ISIN BE0003851681) on Euronext Brussels. Trading was set to resume on 02/05/2025 at 09:00 CET under Article 78 of the Law of 21 November 2017.
SupervisionInterventionsTrading
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2025-05-02•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the resumption of trading in Cofinimmo financial instruments (ISIN BE0003593044) on Euronext Brussels. Trading will re-open on 02/05/2025 at 09:00 CET.
SupervisionAuthorisations & approvalsTrading
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2025-05-02•Dominican Republic•Pensions Superintendency (SIPEN)
The Dominican Republic's Pensions Superintendency (SIPEN) awarded the "Aquí Sabemos de Pensiones" seal to the Chamber of Commerce and Production of Santo Domingo for its commitment to pension education. This recognition is part of SIPEN's initiative to enhance pension literacy and promote financial education within the business sector, supporting its agreement with the Dominican Federation of Chambers of Commerce to disseminate pension knowledge nationwide.
Financial literacy & educationFinancial literacy and education
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2025-05-02•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama's Financial Stability Report for H2 2024 confirms the resilience of Panama’s International Banking Center, with robust capital and liquidity buffers and no critical vulnerabilities identified in stress tests. CBI net assets rose 6.0% year-on-year to USD 156,392.8 million, with capital adequacy at 15.3%, nearly double the regulatory minimum. Potential risks from geopolitical tensions and tighter financial conditions are considered contained due to countercyclical provisions and asset diversification.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMacroprudential policy and tools
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2025-05-02•Botswana•Bank of Botswana
Governor Cornelius K. Dekop of the Bank of Botswana attended the IMF Spring Meetings, chairing the Africa Group 1 Constituency and leading discussions on trade integration for economic growth. The IMF's World Economic Outlook projects slower global growth and emphasizes policy discussions on price stability and debt sustainability. Bilateral talks focused on cooperation and technical assistance for Botswana, covering macroeconomic modeling, stress testing, and regulatory standards.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-05-02•Tanzania•Tanzania Insurance Regulatory Authority
At the National Exhibition of Cultural and Arts Works, the Tanzania Insurance Regulatory Authority (TIRA) highlighted its role in regulating health insurance schemes. Minister of Culture, Arts and Sports Palamagamba Kabudi urged artists to secure health and other insurance, while TIRA's Eastern Zone Manager Zakaria Muyengi emphasized the authority's commitment to ensuring professional operation of healthcare facilities. The exhibition will be held again in October 2026 in Arusha.
Financial literacy & educationOther
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2025-05-02•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market adopted rule amendments and market decisions affecting collective investment activities, share issuance, and corporate governance disclosure. Key actions include the registration and approval of share issues and prospectuses for several joint-stock companies, management appointments, and prohibitions on amendments to the depository accounting system and securities transactions.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-05-02•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank (DNB) reported that labour productivity growth in the Dutch relevant market sector has remained stable at 1.1% annually from 2013 to 2023, outperforming the overall economy's 0.4%. The DNB emphasizes the importance of productivity gains for future growth due to an ageing workforce, suggesting technological investment, workforce skills, and regulatory improvements as key levers. Removing EU single-market barriers could boost productivity by approximately 7%, according to the International Monetary Fund.
Data & statistics
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2025-05-02•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets has released an annex to its Anti-Money Laundering and Sanctions Act Guidance, detailing sector-specific requirements for crypto-asset service providers (CASPs) under the Dutch AML framework. From 4 February 2025, CASPs will be classified as financial undertakings and must comply with sanctions-related expectations and the EU Transfer of Funds Regulation. The annex assists CASPs in implementing legal obligations like risk assessment, customer due diligence, and transaction monitoring.
Policy & regulationGuidance & interpretationAML and CFTRegulatory burden
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2025-05-02•Uruguay•Central Bank of Uruguay
Uruguay's Central Bank President, Guillermo Tolosa, emphasized strategic risk management at the IMF and World Bank Spring Meetings, citing strong reserves, high banking capital and liquidity, and long sovereign debt durations. He noted diversification in trade partners, debt currency, and energy sources. Tolosa discussed enhancing monetary policy to anchor inflation expectations through de-dollarisation, improved communication, and decoupling prices from the exchange rate.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-05-02•Uruguay•Central Bank of Uruguay
Uruguay's Central Bank President, Guillermo Tolosa, highlighted strategic risk management at the IMF and World Bank Spring Meetings, focusing on buffers and diversification. He emphasized strong central bank reserves, high banking system capital and liquidity ratios, and long sovereign debt duration. Tolosa also discussed efforts to anchor inflation expectations through de-dollarisation, improved monetary transmission, and clearer communication.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-05-02•Georgia•National Bank of Georgia
Governor Natia Turnava of the National Bank of Georgia stressed the importance of insurance in financial awareness and economic sustainability at an Insurance Day event. She highlighted collaboration between the State Insurance Supervision Service and the National Bank's departments, noting that a developed insurance market aids financial stability. Turnava also emphasized credit risk insurance's role in mitigating risks for banks and enhancing lending security for SMEs.
Financial literacy & educationFinancial literacy and education
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2025-05-02•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia concluded its annual Insurance Week with a focus on raising insurance awareness and promoting consumer rights. Head Davit Onoprishvili highlighted market growth, noting premiums surpassed GEL 1 billion in 2023 and increased by 18% in 2024. The event included discussions on the Service's 2025–2029 strategy and featured participation from industry and government stakeholders.
Financial literacy & educationFinancial literacy and education
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2025-05-02•Italy•Bank of Italy
The Bank of Italy, in collaboration with the Bank of France, the Bank of England, the International Monetary Fund, and the OECD, has announced a call for papers for a conference on "International Capital Flows and Financial Policies" to be held in Paris on 24 September 2025. Professor Anusha Chari from the University of North Carolina will deliver the keynote speech.
ResearchCross-border cooperation
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2025-05-02•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia awarded its 2025 Annual Award for Young Researchers to Jasna Tonovska for her paper on the volatility of international financial flows and its implications for the Macedonian economy. The research highlights increased volatility post-2020 due to global uncertainty and geopolitical tensions, advocating macroprudential measures to mitigate risks. The paper will be presented at an upcoming session of the National Bank’s Research Club.
ResearchMacroprudential policy and tools
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2025-05-02•United States•Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia appointed Curtis J. Myers, chairman and CEO of Fulton Bank and Fulton Financial Corporation, to its Board of Directors as a Class A director, effective April 15, 2025. The nine-member board oversees Bank operations, economic conditions, and the discount rate, linking the Federal Reserve with communities in the Third District.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Norway•Department of Finance (Norway)
Norway's Ministry of Finance will review the monetary policy provision established in December 2019. Norges Bank has been requested to provide a written assessment of its experience with the current mandate, international experiences, and recent research on monetary policy.
Policy & regulationReform agendas & prioritiesMonetary policy decisions and developments
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2025-05-02•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's special fundraising account allocated over UAH 1.1 billion in April 2025 for defence, with a balance over UAH 1.2 billion as of 1 May 2025. Since February 2022, it received nearly UAH 66.3 billion, including foreign currency, and allocated over UAH 65.2 billion to defence agencies. A Cabinet resolution now allows transfers to other authorities involved in repelling Russian aggression, with one executed in April.
Data & statisticsOther
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2025-05-02•Portugal•Bank of Portugal
The Bank of Portugal reported that Maastricht public debt rose by EUR 1.0 billion in March 2025, reaching EUR 278.3 billion, or 96.3% of GDP. The increase was driven by higher savings certificates, debt securities, and loans. Public administrations’ deposit assets increased by EUR 1.3 billion, resulting in a net public debt decrease of EUR 0.2 billion to EUR 259.5 billion.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority issued a circular requiring retirement funds to update members' Beneficiary Nomination Forms and improve the timeliness of annual Benefit and Projection Statements. Only forms signed within the prior 18 months will be considered "most recent" for regulatory purposes. Funds must confirm the update exercise to NBFIRA by 31 July 2025.
Policy & regulationGuidance & interpretationBeneficial ownership
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2025-05-02•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 has revoked the microfinance licence of Oiyl-Nesie Credit Partnership LLP due to repeated legal breaches. The entity must re-register, reorganize, or liquidate within 30 days, while clients must fulfill existing microcredit obligations.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-02•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 has revoked the microfinance activity licence of “Qamqor Credit Partnership” LLP due to repeated legal violations. The entity must re-register, reorganize, or liquidate within 30 days, while clients remain liable for existing microcredit obligations.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-05-02•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 Kazakhstan reported growth in banking sector assets, lending, and deposits as of April 2025, with a slight increase in overdue loans. Total assets rose 1.6% to KZT 62.0 trillion, driven by a 2.0% increase in the loan portfolio, while liabilities grew 1.7% to KZT 52.6 trillion. The sector's net profit for the first quarter was KZT 664 billion, marking a 16.6% year-on-year increase.
Data & statisticsLendingAsset quality
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2025-05-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 0.3% decline in insurance and reinsurance assets to KZT 3.2tn in March 2025, with premiums rising 21.9% to KZT 391.0bn. Securities made up 73.7% of assets, liabilities fell 0.7% to KZT 2.3tn, and equity rose 0.4% to KZT 959bn. Insurance contracts increased 34.5% year-on-year to 6.0m, driven by a rise in accident insurance contracts.
Data & statisticsSupervisory data
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2025-05-02•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency reported a 0.8% decline in equity market capitalisation to KZT 31.8tn in March 2025, due to major company price drops. Equity and corporate bond trading volumes weakened, while government securities turnover rose 42.3% to KZT 954.5bn. Assets under management in unit investment funds decreased 3.4% to KZT 359.5bn, and professional participants' assets fell 15.4% due to First Heartland Securities' licence suspension.
Data & statisticsFinancial and market indicatorsMarket development
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2025-05-02•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 Kazakhstan outlined its ESG agenda, indicating a shift towards mandatory ESG reporting and risk management in the financial sector. Current voluntary practices by Kazakh institutions are supported by the Agency's guidance and capacity-building initiatives with the International Finance Corporation. Future plans include aligning sustainability disclosures with International Financial Reporting Standards and developing a carbon accounting methodology.
Policy & regulationReform agendas & prioritiesESG
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2025-05-02•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 Kazakhstan reported a 15% increase in appeals in March 2025, mainly involving banks and microfinance organisations. Supervisory actions included three recommendatory measures and two administrative penalties totalling KZT 924,000. The agency also detailed progress on the mortgage refinancing programme, with significant refinancing and support measures across three tracks.
SupervisionInterventionsLending
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2025-05-02•Global•International Association of Deposit Insurers
The International Association of Deposit Insurers released a community news update highlighting member communications and the Bank Guarantee Fund's Strategy 2030, which outlines its mission and framework for the next five years. The update also details upcoming IADI events, including a virtual policy seminar and various regional meetings.
Other
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2025-05-02•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission has initiated Tender No. 02/2025 to develop and support two digital platforms. These platforms aim to onboard CySEC-supervised entities and enhance certification processes, seminar management, and examination records.
Institutional developmentProcurementOutsourcing and third-party risk management
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a warning about fraudulent websites and internet banking login screens related to DBS Bank (Hong Kong) Limited. The HKMA emphasized 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 are advised to contact DBS and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Bank of East Asia, Limited. The HKMA emphasized banks do 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’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not request sensitive personal information through SMS, email, or embedded hyperlinks. Individuals affected are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website reported by Bank Julius Baer & Co. Ltd. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information like passwords via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens reported by Shanghai Commercial Bank Limited. The HKMA reminded the public that banks do 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 Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-05-02•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Bank of China (Hong Kong) Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers affected by these fraudulent sites should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-05-02•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority imposed a GBP 1,950,000 civil penalty on RL360 Insurance Company Limited and RL360 Life Insurance Company Limited for breaches of the Anti-Money Laundering and Countering the Financing of Terrorism Code 2019. The penalty, initially GBP 2,785,714, was reduced by 30% due to RL360’s cooperation and remedial actions. Deficiencies were found in risk assessments, due diligence, and monitoring processes, prompting RL360 to implement an extensive remediation programme.
EnforcementInvestigations & enforcement actions
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2025-05-02•Türkiye•Banking Regulation and Supervision Agency
The Banking Regulation and Supervision Agency released its Banking Sector Monthly Bulletin for March 2025, detailing essential banking-sector data collected from institutions under the Banking Law and related regulations.
Data & statisticsSupervisory data
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2025-05-02•United States•Federal Reserve Bank of Atlanta
The Federal Reserve Bank of Atlanta appointed Emily Mitchell as assistant vice president and regional executive for its Nashville Branch, succeeding Laurel Graefe. Mitchell will oversee economic intelligence gathering in Tennessee and contribute to outreach efforts. She has been with the Atlanta Fed since 2011, most recently as director of the Regional Economic Information Network in Nashville.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Europe•European Central Bank
The European Central Bank's March 2025 Survey showed largely unchanged credit terms from December 2024 to February 2025, with 88% expecting no changes in Q2. Haircuts decreased for most assets, notably high-quality corporate bonds, while financing rates and spreads decreased except for equities. Initial margin requirements and credit limits for non-centrally cleared OTC derivatives remained stable, with minor tightening for secured funding of equities and convertible securities.
Data & statisticsCredit risk
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin examines the unusual compression of US non-financial corporate bond spreads through 2024 and the implications of their recent abrupt widening. Earlier compression is attributed to strong risk-on sentiment and robust earnings expectations, with a shift in high-yield issuance towards higher-quality bonds. The ECB warns of rollover and repricing risks, with significant corporate debt maturing soon and potential increases in refinancing rates.
ResearchCredit riskMarket risk and volatility
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin shows a decline in average hours worked per employee in euro area countries since 2020, remaining below pre-pandemic levels. This is due to shifts at the extremes of the hours distribution, with fewer employees working over 49 hours per week and increased zero-hour weeks during the pandemic. Cross-country differences persist, notably in Spain and France, due to regulatory changes and altered preferences for long hours.
Research
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2025-05-02•Europe•European Central Bank
The European Central Bank's Economic Bulletin reveals that the US's 2018 tariff measures on Chinese goods diverted trade to the euro area without boosting euro area exporters' US market share. The tariffs increased Chinese import rates by 18 points, reducing US imports from China by 10% and increasing euro area imports by 2%-3%. South and South-East Asian economies increased exports to the US as supply chains adjusted.
Research
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2025-05-02•Europe•European Central Bank
The European Central Bank released its Q1 2025 €STR transparency report, detailing errors impacting the euro short-term rate by over 0.1 basis points. One incident on 28 March 2025 had an absolute impact between 0.001 and 0.005 percentage points due to a late submission. Data was included up to 14 April 2025.
Data & statisticsRegulatory reporting
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2025-05-02•Europe•European Central Bank
The European Central Bank will integrate national central banks' statistical in-house credit assessment systems (S-ICASs) into the Eurosystem Credit Assessment Framework from 2026, enhancing credit assessment capacity and collateral availability. S-ICASs will focus on non-financial corporations, particularly micro, small, and medium-sized enterprises, excluding large exposures. A harmonised framework will guide the scope, methodology, and governance, with transitional provisions for national central banks using temporary systems.
Policy & regulationRules & requirementsCredit riskPrudential risks
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2025-05-02•Europe•European Central Bank
The European Central Bank's weekly financial statement shows total assets and liabilities at EUR 6,313,602 million, down EUR 16,345 million from the previous week. Key changes include a EUR 15,351 million decline in securities for monetary policy and a EUR 1,922 million increase in lending to euro area credit institutions. Banknotes in circulation rose by EUR 1,757 million, while liabilities to euro area credit institutions fell by EUR 4,527 million.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•South Africa•South African Reserve Bank
The South African Reserve Bank has launched the ZARONIA First initiative, urging inter-dealer brokers to prioritize trading and quoting linear derivatives referencing the South African Rand Overnight Index Average (ZARONIA) over the Johannesburg Interbank Average Rate (Jibar). This aims to reduce reliance on Jibar, starting with linear derivatives like interest rate swaps. Supported by the Financial Sector Conduct Authority, the initiative includes transition guidance from the Market Practitioners Group.
Policy & regulationImplementation, projects & pilotsFinancial benchmarks
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2025-05-02•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that Westpac will pay a NZD 3.25 million penalty for misleading customers and overcharging, affecting 24,621 customers with NZD 6.35 million in overcharges, due to system deficiencies. Westpac has remediated affected customers and cooperated with the investigation, with no evidence of deliberate misconduct found.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-05-02•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority and the National Institute of Securities Markets signed a memorandum of understanding to enhance capacity building and training for securities markets participants in GIFT IFSC. NISM will conduct certification exams and develop tailored materials, including e-learning modules, for IFSCA officials and market participants.
Policy & regulationCooperationCapacity building
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2025-05-02•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported Q1 2025 cash circulation statistics, with 6.4 million banknotes worth EUR 213 million and 1.5 million coins worth EUR 1.6 million issued. A notable increase in coins returned was linked to the new rounding rule, with commercial banks returning 14.2 million coins. ATM cash withdrawals and deposits decreased by about 7% year-on-year, and 148 counterfeit euro banknotes were registered.
Data & statisticsCurrency and cash management
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2025-05-02•South Korea•South Korea Financial Services Commission
South Korea's Financial Services Commission finalized guidelines for non-profit corporations and registered virtual asset exchanges to dispose of virtual assets, backed by real-name accounts and enhanced anti-money laundering controls. Disposal for non-profits is limited to audited entities operating for at least five years, with strict trading and liquidation requirements. Revised listing best practices aim to reduce price volatility post-listing and prevent indiscriminate listings, starting in June.
Policy & regulationGuidance & interpretationFintech and insurtechAML and CFT
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2025-05-02•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority joined an Asian Infrastructure Investment Bank panel at the Astana International Financial Centre, focusing on mobilizing finance for sustainable infrastructure in Kazakhstan. Discussions included expanding AIIB's investment in Central Asia and enhancing collaboration among multilateral development banks, commercial banks, and asset managers. AFSA CEO Evgeniya Bogdanova emphasized strengthening supervisory approaches and market integrity, focusing on sustainability and climate resilience.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-02•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has unveiled a "Strategic Framework on the Microfinance Model" to enhance the sector's role in financing self-employed individuals and micro, small, and medium-sized enterprises. Key initiatives include strengthening legal and regulatory foundations, introducing microcredit legislation, and supporting non-bank credit organisations. The framework also aims to improve identification systems for self-employed and family peasant farms.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-05-02•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission has amended Chapter 9 of its Handbook on Countering Financial Crime to address an anomaly regarding pooled accounts by subsidiary companies of investment and fiduciary licensees. These changes were informed by industry feedback. Updated versions of the Handbook are now available.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-02•Zambia•Bank of Zambia
The Bank of Zambia's Financial Stability Committee reported a decline in financial stability risks since October 2024, citing reduced financial market stress and an improved macroeconomic environment. The countercyclical capital buffer remains at 0.0 percent. Despite positive trends, the Committee highlighted ongoing vulnerabilities such as electricity supply deficits, low financial intermediation, and foreign-currency lending risks.
Policy & regulationGuidance & interpretation
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2025-05-02•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario announced that the Ontario Superior Court of Justice appointed B. Riley Farber as receiver for Sussman Mortgage Funding Inc. and related companies, following FSRA's application. This action responds to allegations of serious wrongdoing by mortgage investors. FSRA has revoked SMFI's mortgage brokerage and administrator licences, and the receiver will manage SMFI's affairs and report to the court by June 2, 2025.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-02•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 50,000 penalty and compliance order against Daniel Emerson Tiffin, prohibiting him from acting as an insurance agent in Ontario. The Financial Services Tribunal found Tiffin operated without a licence and used licensed agents to receive commissions. FSRA has also taken enforcement actions against these agents, including licence revocations and penalties.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-02•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the Kosovo Judicial Council agreed to enhance cooperation on shared public interest matters. The meeting highlighted banking sector stability, supervisory reforms, and the importance of collaboration to address institutional challenges and improve efficiency.
Policy & regulationCooperationDomestic cooperation
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2025-05-02•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority has approved the preliminary prospectus for a VINCI share offering exclusively for the group's employees.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission is consulting on proposed amendments to streamline financial statement submissions by real estate investment trust (REIT) managers. Key changes include extending the submission deadline to four months post-fiscal year-end and mandating electronic submissions to reduce reporting burdens and eliminate duplicate filings.
Policy & regulationRules & requirementsRegulatory burden
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has revised the definition of "Institutional Investor" to include private funds (PF) without requiring firms to assess individual PF clients. Effective 1 May 2025, this change aligns with PF supervisory guidelines, supporting operational flexibility while maintaining investor protection.
Policy & regulationRules & requirementsOther
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2025-05-02•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges bondholders of three Jasmine Technology Solution bond series to review information and exercise voting rights at an upcoming electronic meeting. Bondholders should seek comprehensive details from the issuer or representative regarding the benefits and impacts of proposed resolutions. Key agenda items include waiving events of default, extending maturity, revising repayment profiles, and adjusting interest rates.
SupervisionInterventionsCorporate governance
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2025-05-02•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's 2024 financial statements show a profit of NGN 638,837 million for the Group and NGN 165,694 million for the Bank, reversing 2023's losses. Auditors confirmed consistency with audited figures but highlighted non-compliance with Section 38 of the Central Bank of Nigeria Act and noted that post-16 April 2025 events are not reflected. The Board confirmed effective internal control over financial reporting.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-02•Namibia•Bank of Namibia
The Bank of Namibia updated its annual statutory engagement with the Office of the President, discussing economic developments and strategic initiatives for transformation and inclusive growth. Governor Johannes !Gawaxab emphasized evidence-based policymaking, sharing macroeconomic research on rural development, global agricultural value chains, fisheries, water scarcity, and financial impacts of oil discoveries.
Policy & regulationCooperationOther
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2025-05-02•Tanzania•Bank of Tanzania
The Bank of Tanzania issued regulations mandating that all goods and services within Tanzania be priced and paid for in Tanzanian shillings, prohibiting the use of foreign currency for local transactions. Exceptions exist for certain transactions, but contracts requiring foreign-currency payments are banned from 28 March 2025. Foreigners must exchange currency through banks or bureaux de change, though digital payments remain permissible.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-05-02•Chile•Central Bank of Chile
The Central Bank of Chile reported a 3.8% year-on-year increase in its Monthly Economic Activity Index (Imacec) for March, with goods production and trade showing significant growth. Goods production rose 4.4% annually, driven by manufacturing and mining, while trade increased 8.9%, mainly due to wholesale and retail activity. Services grew 2.7% year on year, led by personal services, particularly health care.
Data & statisticsEconomic data and developments
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2025-05-02•Canada•Payments Canada
Payments Canada has initiated a series of educational webinars to engage the public on the legal framework for the Real-Time Rail (RTR), Canada's upcoming real-time payment system. The webinars, covering topics such as RTR access, compliance, and fraud management, aim to prepare stakeholders for a public consultation. Recordings and bilingual Q&A sessions will be available on Payments Canada's website.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-05-02•Chile•Chile Financial Market Commission
The Chile Financial Market Commission has released a consultation proposal to amend banking rules, aligning customer service channels with the Fintech Act's updates to the General Banking Act. The draft outlines minimum working hours, service mechanisms, and conditions, while maintaining flexible on-site service hours. The proposal also indicates the repeal of the 31 December banking holiday under the Fintech Act.
Policy & regulationRules & requirementsFintech and insurtech
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2025-05-02•Luxembourg•Ministry of Finance (Luxembourg)
The Luxembourg Ministry of Finance announced Finance Minister Gilles Roth's participation in the Eurogroup meeting to discuss G7 developments, global economic trends, and the digital euro. Euro area finance ministers will engage with the Chair of the Supervisory Board of the Single Supervisory Mechanism on banking union progress, focusing on digitalisation and climate change challenges. The Eurogroup will prepare for the European Stability Mechanism's annual meeting, reaffirming its role in the euro area's financial architecture.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-02•India•Securities & Exchange Board of India
The Securities and Exchange Board of India announced a memorandum of understanding between the International Financial Services Centres Authority and the National Institute of Securities Markets to enhance financial-sector capacity building. NISM will serve as a training partner for IFSCA and conduct certification exams for intermediaries registered with IFSCA. The MoU aims to elevate professional standards within the IFSCA ecosystem through skill development and training.
Policy & regulationCooperationCapacity building
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2025-05-02•Caribbean•Caribbean Financial Action Task Force (CFATF)
The Caribbean Financial Action Task Force approved for publication a report on money laundering vulnerabilities in the financial arrangements of non-traditional DNFBPs in the Caribbean. The report focuses on the motor vehicle sales sector and is intended to support mitigation of emerging AML risks. Official publication is planned for June 2025.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-02•Denmark•National Bank of Denmark
The National Bank of Denmark reported a DKK 5.5 billion increase in the foreign-exchange reserve in April 2025, reaching DKK 661.4 billion, driven by net foreign-exchange purchases and government debt repayment. The central government's net financing requirement was DKK 30.7 billion, while banks and mortgage-credit institutes' net position with the bank rose by DKK 29.7 billion. The bank's end-April balance sheet showed total assets and liabilities of DKK 707.3 billion, with foreign assets at DKK 567.2 billion.
Data & statisticsBalance of payments and other external statistics
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2025-05-02•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India announced the appointments of Shri Swaminathan S. Iyer and Shri Yaminathan S.R. as Whole-time and Full-time Members (Life), respectively, effective 1 May 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-02•Trinidad & Tobago•Trinidad & Tobago Securities & Exchange Commission
The Trinidad and Tobago Securities and Exchange Commission (TTSEC) launched a National Investor Education Month in May 2025, themed "Investing in Knowledge. Investing in Community," to enhance public understanding of securities investing and the TTSEC's role. The initiative includes in-person outreach, media content, and a community roadshow, aligning with the TTSEC's investor protection mandate under the Securities Act, 2012. Activities feature educational sessions, presentations, and daily media content, coinciding with the TTSEC's 28th anniversary.
Financial literacy & educationFinancial literacy and education
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2025-05-02•Barbados•Central Bank of Barbados
The Central Bank of Barbados revised its 2025 macroeconomic outlook, lowering real GDP growth to 2.7% and raising inflation to 1.7–3.5%, citing a weaker external environment and trade-related uncertainty. Growth is expected to be driven by tourism, construction, and business services, supported by budget measures and climate-resilience initiatives. Despite risks from global economic conditions and tourism spending uncertainties, international reserves are projected to rise modestly, with fiscal planning targeting a primary surplus of 4.4% of GDP for FY2025/26.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments