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2025-05-01•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand's research links the decline in New Zealand's natural rate of interest since 2000 to weaker labour productivity growth and a lower global natural rate, partially offset by higher population growth and increased labour force participation among older households. The study suggests persistently low natural and neutral rates may require alternative monetary policy tools when policy rates near the effective lower bound.
ResearchMonetary policy decisions and developments
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2025-05-01•Panama•Panama Superintendencia del Mercado de Valores
Panama's Superintendency of the Securities Market reminded registered issuers and investment companies to pay the 2024 annual supervision fee by the end of May. The fee for issuers is based on the market value of registered securities, while for investment companies, it is based on the average net asset value of participation units. Prior authorisation and submission of specific forms are required under Law 66 of 2016 and Agreement 11-2013.
SupervisionRegulatory reportingSupervision process and methodologies
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2025-05-01•United Arab Emirates•Dubai Financial Services Authority
The Dubai Financial Services Authority has released a guide for its Innovation Testing Licence, detailing how firms can access the regulatory sandbox and transition to full authorisation in the Dubai International Financial Centre. It outlines the licence's purpose, eligibility, application process, and obligations during testing. The launch precedes the Dubai FinTech Summit 2025, where the DFSA will discuss the ITL and other initiatives.
Policy & regulationGuidance & interpretationFintech and insurtechRegulatory sandbox
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2025-05-01•Denmark•National Bank of Denmark
The National Bank of Denmark released its 2024 oversight report on Danish financial infrastructure, emphasizing the criticality of payments systems, which processed an average of DKK 732 billion daily, and underscoring the importance of secure, efficient operations in line with international standards.
SupervisionReviews, inspections & stress testsFinancial and market indicatorsSupervisory data
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2025-05-01•Angola•Ministry of Finance (Angola)
Angola's Ministry of Finance, represented by Secretary of State Ottoniel dos Santos, aims to increase insurance penetration to 3% of GDP by 2029 and expand various insurance types, including agricultural and microinsurance. Despite premiums doubling from 2020 to 2024, penetration remains at 0.6% of GDP. The Angolan Agency for Insurance Regulation and Supervision (ARSEG) seeks to enhance supervision in line with International Association of Insurance Supervisors (IAIS) principles.
Policy & regulationReform agendas & prioritiesSupervision process and methodologies
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2025-05-01•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) released its first ESG update, outlining supervisory priorities for 2025-2026 to enhance sustainability information reliability and ensure suitable sustainable products. It emphasizes accurate sustainability claims, compliance with the Sustainable Finance Disclosure Regulation (SFDR), and embedding sustainability in product oversight and governance. The AFM plans further updates on specific sustainability legislation themes later in the year.
SupervisionSupervision approach, priorities & toolkitESG
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2025-05-01•Venezuela•Central Bank of Venezuela
The Central Bank of Venezuela reported a 9.32% GDP growth in Q1 2025, surpassing the 9.13% growth in Q1 2024, marking sixteen consecutive quarters of recovery. Oil and mining sectors led with expansions of 18.23% and 13.46%, respectively. The growth is attributed to economic policy implementation despite external pressures such as an economic blockade and international instability.
Data & statisticsEconomic data and developments
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2025-05-01•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority reported that Bermuda (re)insurers anticipate nearly USD 10 billion in gross claim losses from the January 2025 Southern California wildfires. This estimate, based on the BMA’s US Data Claims Survey, excludes most of Bermuda’s insurance-linked securities sector, suggesting potential higher losses. Public estimates indicate economic losses of USD 250-275 billion and industry-insured losses of at least USD 30 billion, with Bermuda (re)insurers potentially covering up to 30% of insured losses.
Data & statistics
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2025-05-01•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council has reselected Charles G. Cooper to its State Liaison Committee (SLC) for a term from May 1, 2025, to April 30, 2027, and re-elected him as Chair for a one-year term ending April 30, 2026. Cooper, Commissioner of the Texas Department of Banking, oversees the regulation of 214 Texas state-chartered banks with assets totaling USD 426.6 billion. The SLC also includes members from North Carolina, Tennessee, New York, and Michigan regulatory bodies.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-01•New Zealand•Department of Internal Affairs
The New Zealand Department of Internal Affairs has issued guidance for financial institutions on applying the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 to stored value instruments (SVIs), detailing regulatory exemptions. The guidance covers physical and electronic SVIs, like prepaid and gift cards, and outlines associated risks. Exemptions apply under conditions such as maximum value thresholds of less than USD 1,000 for cash-redeemable SVIs and USD 5,000 for non-cash-redeemable SVIs, with a reloadability cap of USD 10,000 annually. It also clarifies that credit cards, debit cards linked to financial accounts, and virtual asset instruments are not covered by SVI regulations.
Policy & regulationGuidance & interpretationAML and CFT
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2025-05-01•Global•International Organisation of Pension Supervisors
The International Organisation of Pension Supervisors released an implementation note to aid applying its 2019 guidelines on integrating ESG factors into pension fund investment and risk management. It provides practical examples from the pension and financial sectors to help implement guidelines on investment, risk management, disclosure, and ESG-inclusive scenario testing. It emphasizes that ESG expectations should apply to all investments, encourages clear supervisory expectations, and addresses issues like data gaps and greenwashing risks.
Policy & regulationGuidance & interpretationESG
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2025-05-01•United Kingdom•UK Parliament
The UK Parliament's House of Lords has completed the report stage scrutiny of the Property (Digital Assets etc.) Bill, aimed at clarifying the legal status of digital assets as property. The bill supports treating assets like crypto-tokens and non-fungible tokens as potentially capable of property rights, without declaring any specific category as property. Amendments discussed include codes of practice for digital assets and a review of the impact of treating them as property.
Policy & regulationRules & requirementsTokenization
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements published a working paper analyzing the impact of USD-backed stablecoin flows on US Treasury yields, finding that inflows compress 3-month Treasury bill yields by 2 to 2.5 basis points within 10 days. The study attributes approximately 70% of the yield effect to Tether (USDT) and 19% to Circle (USDC), highlighting implications for monetary policy transmission and financial stability risks.
ResearchStablecoins
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements published a working paper introducing "verifiable Total Value Locked" (vTVL) as a metric for decentralized finance, highlighting challenges in verifying TVL due to varying methodologies. Analyzing 939 DeFi protocols, the study found 10.5% rely on external servers and identified infrastructure-level double counting issues. The paper recommends guidelines for standardization and verifiability, including using on-chain data and standard balance methods.
Policy & regulationInternational standards & recommendationsDeFi
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper analyzing cross-border flows of Bitcoin, Ether, Tether, and USD Coin from Q1 2017 to Q2 2024, revealing these flows are less constrained by geographic frictions than traditional financial flows. The study highlights unbacked cryptoassets are linked to speculative motives, while stablecoins and low-value Bitcoin transfers are more transactional. Key findings include the United States and the United Kingdom as major nodes, a shift in activity from China to emerging markets, and the impact of global market volatility and monetary conditions on crypto flows.
ResearchCross-border paymentsStablecoins
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2025-05-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper on US private credit direct lending, noting secured loans now dominate the market, growing faster than unsecured loans. Secured loans are more common when lenders are less familiar with borrowers' industries or are geographically distant, typically featuring lower amounts, higher spreads, and longer maturities. The paper also highlights a rise in club deals and revolver loans, with banks increasingly participating alongside private credit lenders.
ResearchLendingMarket development
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa is seeking one international and three regional consultants for the West Africa Compliance Summit 2025 in Praia, Cabo Verde, on July 21-24. The roles cover development and delivery of training for chief compliance officers on emerging AML/CFT/CPF risks, FATF standards changes and implementation challenges under GIABA’s African Development Bank-financed capacity-building project. Expressions of interest are due by May 19, 2025.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa will hold statutory meetings in Dakar from 11 May to 17 May 2025, with the 43rd plenary focused on second-round mutual evaluation follow-up reports and regional AML/CFT implementation issues. Ministers will then meet on 17 May to consider the plenary report, the third-round mutual evaluation calendar and other memoranda, including a membership application from Burkina Faso, Mali and Niger.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa has issued a regional report on money laundering and terrorist financing linked to cybercrime, identifying seven typologies from 52 cases. Advance fee fraud was the most prevalent pattern, and the report says weak laws, limited digital forensic capacity, and scarce parallel financial investigations are hampering enforcement. GIABA calls for stronger legal frameworks, more investigative capacity, and tighter regional and international cooperation.
ResearchAML and CFTCyber resilience
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2025-05-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter-Governmental Action Group against Money Laundering in West Africa has issued a regional report finding that six Gulf of Guinea countries have weak legal implementation and poor interagency coordination in tackling money laundering, terrorist financing and illicit financial flows tied to maritime crime. The report says this limits detection, financial tracing and confiscation across crimes such as piracy, oil theft, illegal fishing and trafficking. It calls for risk assessments, stronger criminalization, formal information sharing and routine parallel financial investigations.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-05-01•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait hosted a monetary policy workshop with the International Monetary Fund’s Middle East Center for Economics and Finance, focusing on monetary policy in fixed exchange rate systems and the role of central banks in maintaining macroeconomic stability. The event, held from 28 April to 1 May 2025, emphasized the importance of aligning staff capabilities with international best practices.
Institutional developmentCooperation & capacity buildingMonetary policy decisions and developments
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2025-05-01•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan hosted a "Financial Literacy" festival in Norak on 30 April 2025, aimed at enhancing financial literacy and access to financial and insurance services. The event featured sessions on financial inclusion, securities market regulation, cash's role in the economy, fraud prevention, payment digitisation, and the insurance system.
Financial literacy & educationOther
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2025-05-01•Europe•European Central Bank
The European Central Bank's Financial Stability Review notes that private equity and credit financing boost productivity and investment in euro area firms but increase indebtedness and weaken interest servicing ability. Despite being smaller than traditional bank lending, significant cross-border activity and strategic bank partnerships pose risks. The ECB stresses the need for more monitoring due to data scarcity and opacity in assessing financial interlinkages.
ResearchMarket development
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2025-05-01•New Zealand•New Zealand Financial Markets Authority
New Zealand’s Financial Markets Authority announced that the High Court ordered Kok Ding Cheng to pay a NZD 198,000 penalty for trade-based market manipulation in Rua Bioscience Limited shares, following breaches of the Financial Markets Conduct Act 2013. The penalty will cover the FMA’s costs before being paid to the Crown.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-05-01•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan will conduct a mobile citizen reception in the Khachmaz district on 7 May to enhance consumer and investor rights protection. The event will address inquiries from residents of Khachmaz, Quba, Qusar, Siyazan, and Shabran districts, with Central Bank representatives providing support.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-05-01•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice amending details for Albert Kashafovich Shigabutdinov, who remains under asset freeze and trust services sanctions. Firms must verify relationships, freeze relevant assets, and report findings to the States of Guernsey Policy & Resources Committee. Compliance with statutory reporting and refraining from providing resources to designated persons is mandatory unless a permitted derogation or licence is granted.
Policy & regulationRules & requirementsSanctions list update
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2025-05-01•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed a CAD 100,000 penalty on Kostyantyn Poshtarenko for unlicensed insurance agent activities. This action pertains to violations of the Insurance Act and Ontario Regulation 347/04. Poshtarenko did not seek a hearing or challenge the proposal.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-05-01•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority appointed Mr. Affendi Rashdi as Director General for a two-year term starting 1 May 2025, succeeding Mr. Nik Mohamed Din Nik Musa. Affendi previously served as Chief Services Officer at Bank Negara Malaysia, contributing to significant initiatives such as the review of the Development Financial Institutions Act 2012 and the establishment of SME Bank.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-05-01•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo summarized its participation in the IMF and World Bank Group 2025 Spring Meetings, highlighting macro-financial developments, financial-sector reforms, and payments modernization. Achievements include completing IMF-supported programs and progress towards joining the Single Euro Payments Area (SEPA). Discussions with IMF, ECB, and World Bank officials focused on legal reforms, financial stability, SEPA integration, and potential cooperation on international reserve management.
Policy & regulationCooperationCross-border cooperation
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2025-05-01•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) fined Immeubles Jack Sera Inc., operating as Royal LePage Classic, CAD 107,250 for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The penalty, issued on November 20, 2024, followed a 2022 compliance examination revealing failures in compliance policies, risk assessment, training, and program review.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-05-01•Canada•Payments Canada
Payments Canada has amended the Automated Clearing and Settlement System (ACSS) rules, effective April 28, 2025, to enhance bill payment incident management, improve payment tracing, and align pre-authorized debit requirements. Updates to Rules E3, F1, and F4 clarify participant responsibilities and improve incident resolution, while Rule H1 revisions reflect current practices. A new AFT Transaction Code Standard 007 will be introduced on July 1, 2025, to facilitate Canada Disability Payments.
Policy & regulationRules & requirementsPayments and payment systems
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2025-05-01•Canada•Canadian Securities Administrators
The Canadian Securities Administrators issued two staff notices to aid in implementing amendments to trade repositories and derivatives data reporting rules effective July 25, 2025. The package includes a FAQ document to clarify amended requirements and a template for reporting significant errors or omissions. These tools aim to ensure consistent compliance across CSA jurisdictions.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-05-01•Global•United Nations PRI
United Nations PRI, with the UNEP Finance Initiative and the World Business Council for Sustainable Development, launched the Nature Reporting Preparer Forum to boost adoption of nature-related financial disclosures per Taskforce recommendations. Supported by the International Climate Initiative, it focuses on Latin America and Southeast Asia, engaging investors, banks, insurers, and real economy participants to address nature-related financial risks and opportunities.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-05-01•United States•Office of the Comptroller of the Currency
Acting Comptroller Rodney E. Hood of the Office of the Comptroller of the Currency emphasized financial literacy's role in empowering underserved communities at the U.S. Department of the Treasury’s Financial Literacy Roundtable. He highlighted the agency's commitment to supporting banks' financial education initiatives, particularly in rural and Native communities, to enhance consumer wealth-building and financial system functionality.
Financial literacy & educationFinancial literacy and education
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2025-05-01•United States•Office of the Comptroller of the Currency
The US Office of the Comptroller of the Currency released Community Reinvestment Act performance evaluations for 25 national banks and federal savings associations from April 2025. Eleven institutions received Outstanding ratings, including Citibank and The Huntington National Bank, while 14 were rated Satisfactory. No institutions were rated as Needs to Improve or Substantial Noncompliance.
SupervisionReviews, inspections & stress testsOther
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2025-05-01•United States•Financial Crimes Enforcement Network
FinCEN issued a Section 311 finding and proposed rulemaking to designate Cambodia-based Huione Group as a primary money laundering concern, aiming to cut its access to the US financial system. The proposal would prohibit US financial institutions from maintaining accounts for Huione Group, linked to laundering USD 4 billion in illicit proceeds, including funds from North Korean cyber heists and Southeast Asia-based CVC scams. FinCEN highlighted Huione Group's ineffective AML/KYC controls across its network, including Huione Pay PLC, Huione Crypto, and Haowang Guarantee.
EnforcementSanctions & designationsNew sanctions designations
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2025-05-01•United States•Financial Crimes Enforcement Network
FinCEN, with OFAC and U.S. law enforcement, issued an alert urging financial institutions to report suspicious activities linked to oil smuggling by Mexican cartels. The alert details methodologies, red flag indicators, and Bank Secrecy Act requirements, highlighting Mexican brokers and U.S. companies' involvement in schemes involving billions in stolen crude oil. This follows OFAC sanctions against individuals and companies connected to these operations.
SupervisionAlertsAML and CFT
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2025-05-01•Australia•Australian Competition and Consumer Commission
The Australian Competition and Consumer Commission has granted interim authorisation to Australian Payments Network Limited, Australian Payments Plus Limited, and members of the Bulk Electronic Clearing System Framework and the New Payments Platform Scheme to facilitate preparatory work for a proposed collaboration on account-to-account payments infrastructure. This authorisation permits discussions and information sharing necessary for developing a common industry vision but does not allow meetings or consensus on the subject matter.
SupervisionAuthorisations & approvalsPayments and payment systems
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2025-05-01•Denmark•National Bank of Denmark
The National Bank of Denmark reported a 5.6% increase in payment card turnover, reaching nearly DKK 157 billion in Q1 2025 compared to Q1 2024, driven mainly by grocery store transactions. The data encompasses all card transactions in Denmark, excluding cash withdrawals, and is sourced from daily payment card transaction records in the Danish card acquiring market.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-05-01•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission has issued a draft amendment to the Regulations Governing Offshore Securities Branches, expanding where these branches can deposit offshore clients' funds. The proposal allows funds to be placed in foreign exchange deposit accounts at foreign custodian banks, subject to new eligibility and credit rating requirements. The draft will be available for public consultation on the FSC website.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-04-30•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission approved prospectuses for two corporate bond issues and registered equity issues for regulated-market trading. It adopted a draft ordinance on fees, launched a public consultation, and made authorisation decisions, including appointments and exemptions for specific entities. Additionally, the FSC set examination dates for brokers and investment consultants and requested further information from MarketVision Finance Ltd.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-30•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance, led by Minister Mario Marcel, unveiled the first National Financial Inclusion Strategy to expand access to regulated financial services and manage household debt risks. The strategy highlights a decline in household debt and savings data, alongside initiatives like the Fintech Law and a consolidated debt registry. The framework emphasizes safe, responsible use of financial products, requiring system-wide participation to address inclusion gaps.
Policy & regulationReform agendas & prioritiesFinancial inclusion
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2025-04-30•Europe•European Securities and Markets Authority
The European Securities and Markets Authority released its fifth Report on the Quality and Use of Data, detailing EU authorities' use of regulatory data and efforts to enhance data quality. The report includes practical use cases in market monitoring, supervision, enforcement, and policy making, highlighting ESMA's Data Platform and improvements to data quality frameworks. It also covers updates on data quality work for European Market Infrastructure Regulation REFIT datasets and short-selling frameworks.
Policy & regulationImplementation, projects & pilotsRegulatory reportingSupervisory data
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2025-04-30•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released its annual transparency calculations for non-equity instruments and quarterly liquidity assessment for bonds under MiFID II and MiFIR. The assessments set liquidity classifications and transparency thresholds, with results available via the Financial Instruments Transparency System (FITRS) and the Register web interface. ESMA will continue quarterly updates, with bond liquidity results subject to revision based on new data.
Policy & regulationImplementation, projects & pilots
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2025-04-30•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendence of the Securities Market (SMV) has released financial information from supervised companies on the National Open Data Portal, offering free public and investor access in a standardized format. The dataset includes key financial accounts with a time series from 2000 to the present. Users are encouraged to reuse the data for developing new applications and services.
Data & statisticsActivity and performance reporting
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Quarterly Financial Accounts for the quarter ending December 2024, detailing aggregated financial assets and liabilities by economic sector. The report includes data on residents of Cyprus, non-financial corporations, financial institutions, government, households, and residents abroad, and is available in Greek and English.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its 2024 Annual Report, available exclusively in electronic format on the Bank's website.
OtherActivity and performance reporting
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2025-04-30•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Markets Authority approved Al Rajhi Banking and Investment Corporation's application to register and publicly offer debt instruments under a programme valued up to SAR 10 billion. The prospectus, published before the subscription period, will include financial statements and issuance details. The approval confirms compliance with legal requirements but is not a subscription recommendation and is valid for six months.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-30•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Arabian Monetary Authority (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of licensed finance companies to 66. This move aligns with SAMA's efforts to enhance the finance sector's efficiency and promote innovative financial solutions for inclusion. SAMA emphasized the importance of engaging only with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-30•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendency of Colombia aims to enhance financial and digital inclusion by expanding credit access and leveraging technology. A study on the 'silver' population's preferences is underway, with forthcoming guidelines on fair treatment for diverse groups, including LGTBIQ+ consumers and people with disabilities. These initiatives were discussed in a regional webinar before the III Congress of Sustainable and Inclusive Banking.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-04-30•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has disqualified Mohamed Chabib from managing corporations for five years due to his role as a director in four failed hospitality companies. ASIC identified misconduct, including failure to pay tax debts, inadequate record-keeping, and trading while insolvent. The companies owe unsecured creditors AUD 1,113,756, with significant debts to the Australian Taxation Office. ASIC's decision, supported by liquidator reports and the Assetless Administration Fund, is effective until 28 April 2030. Mr. Chabib can seek review by the Administrative Review Tribunal.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-04-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Cofinimmo financial instruments (ISIN BE0003593044) on Euronext Brussels. The suspension began on 30 April 2025 at 16:27 CET and will continue until a press release is issued.
SupervisionInterventionsTrading
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2025-04-30•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Aedifica's financial instruments on Euronext Brussels, effective from 30 April 2025 at 16:27 CET. The suspension will remain until a press release is published.
SupervisionInterventionsTrading
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2025-04-30•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported that the aggregate balance sheet total of Luxembourg credit institutions reached EUR 986,949 million at the end of March 2025, marking a 0.62% increase from February and a 3.10% rise year-on-year. The net interbank position grew by EUR 7,736 million (+3.22%), while loans to non-bank customers increased by EUR 1,269 million (+1.11%) month-on-month. Resident non-bank deposits rose by EUR 7,753 million (+2.57%) in March, with a notable increase in deposits from other financial intermediaries.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission signed a cooperation protocol with the State Intelligence and Security Service to enhance mutual cooperation and information sharing, targeting money laundering, terrorist financing, and weapons proliferation. The agreement includes staff training and capacity building, aiming to bolster investor protection and financial system integrity in Angola.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-04-30•Global•Financial Markets Standards Board
The Financial Markets Standards Board published a Statement of Good Practice on the governance of sustainability-linked products, outlining globally applicable practices to enhance governance frameworks and address credibility and greenwashing concerns. The guidance includes six Statements of Good Practice and a Risk Register aligned with existing asset class guidance from major associations.
Policy & regulationGuidance & interpretationESG
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2025-04-30•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of Kosovo met with World Bank Group President Ajay Banga to discuss enhancing strategic cooperation on economic resilience, financial sector development, and institutional capacity building. Ismaili highlighted the importance of World Bank support for advancing the central bank's capabilities and acknowledged Kosovo's new role as a contributor to the International Development Association. The governor reiterated the commitment to deepen cooperation with the World Bank.
Institutional developmentCooperation & capacity buildingDomestic cooperation
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2025-04-30•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo and the IMF's Monetary and Capital Markets Department reaffirmed their cooperation to enhance Kosovo's financial stability and regulatory frameworks. Discussions between Governor Ahmet Ismaili and Tobias Adrian focused on macro-financial stability, regulatory advancement, and modern financial-sector frameworks. They also explored expanding technical cooperation in risk-based supervision, crisis preparedness, and cybersecurity.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority has endorsed a second catastrophe bond by Peak Reinsurance Company Limited, a USD 50 million issuance expanding coverage of natural peril risks in Hong Kong’s insurance-linked securities market. Issued via Black Kite Re Limited, the bond covers earthquake risks in Mainland China, Japan, and India, and typhoon risks in Japan. Since 2021, about USD 800 million in insurance-linked securities have been issued from Hong Kong, with a grant scheme extended until 2028.
Policy & regulationImplementation, projects & pilotsSecuritization
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2025-04-30•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released an article by Stelios Giorgakis, Director-General for Payment Supervision, analyzing the impact of a digital euro on traditional intermediaries. The article outlines measures to minimize disruptions and ensure a smooth transition.
Policy & regulationGuidance & interpretationCBDC
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2025-04-30•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a pilot project to liquidate the mutual venture non-diversified closed-end investment fund ASTON by transferring its assets and liabilities to JSC ZNVCIF GOLDFORT. Key approvals included corporate securities issuance, share registration for JSC ZNVCIF VINTAGE and JSC ZNVCIF MEGA FIN CAPITAL, and amendments to bond issues for KSG DNIPRO LLC. Additionally, the Commission determined that LLC "AMC SOLDIS" does not meet criteria for critical enterprise designation and approved a draft law on service regulation improvements.
SupervisionAuthorisations & approvalsOther
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2025-04-30•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of SAMA-licensed finance companies to 66. This move aligns with SAMA's goals to enhance the finance sector's efficiency and promote innovative financial solutions for greater financial inclusion. SAMA emphasized the importance of engaging with authorized financial institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-30•Nigeria•Ministry of Finance (Nigeria)
Nigeria’s Minister of Finance, Wale Edun, praised investment bank Chapel Hill Denham for its contributions to the financial system and capital markets at its 20th anniversary event. He highlighted improved foreign exchange market liquidity, deregulated fuel pricing, and structural reforms as key government initiatives. Edun also noted the firm's influence through alumni in major institutions and its role in domestic USD-denominated bond issuance.
Policy & regulationReform agendas & prioritiesMarket development
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2025-04-30•Peru•Central Bank of Peru
The Central Bank of Peru reported a 5.5% year-on-year increase in mortgage credit for home purchases in March, reaching PEN 71,248 million, driven by domestic currency loans. Soles-denominated mortgages rose 6.5% year on year to PEN 66,385 million, while dollarization remained low at 6.8%, reflecting a preference for soles to mitigate exchange-rate risk.
Data & statisticsLending
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2025-04-30•Peru•Central Bank of Peru
The Central Bank of Peru announced that its president, Julio Velarde, received the "Sanmarquina Medal of Honor" from the National University of San Marcos for his contributions to the country's welfare. Velarde emphasized the importance of monetary stability for growth, citing Peru's 1.3% inflation rate and its nearly 29-year record of single-digit inflation. University representatives praised his leadership in maintaining low inflation, a stable exchange rate, and international reserves.
Other
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2025-04-30•El Salvador•Central Reserve Bank of El Salvador
The Central Reserve Bank of El Salvador will start field operations for the 2025 Fifth Agricultural Census and First Fisheries Census on 2 May, deploying teams from 66 sub-sites nationwide. Over 6,700 personnel were hired and trained for data collection, supported by a USD 9.3 million investment in digital technology. This initiative follows the 2023 cartographic update and the 2024 population and housing census.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-30•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica reminded SINPE Móvil users to deactivate their old mobile number and register a new one with their financial institution when changing phone lines, especially for SMS-enabled transfers. The bank highlighted strong growth in SINPE Móvil, with 648 million transactions in 2024 and over 3.5 million subscribers. Users are warned that not updating their number could lead to misuse of funds, and financial institutions must offer a 24/7 SMS deactivation function.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-04-30•China•Ministry of Finance (China)
China's Ministry of Finance and the National Financial Regulatory Administration issued a joint notice to accelerate digitalisation of bank confirmations in audits, enhancing efficiency and quality. Measures include platform development, security standards, and operational requirements for banks and audit firms, focusing on digital confirmations and scalable applications. Banks are encouraged to improve data governance, streamline processes, and adopt digital solutions with incentives like differential pricing.
Policy & regulationRules & requirementsAccounting and financial reporting
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2025-04-30•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan, with InfraZamin, UK International Development, and the Private Infrastructure Development Group, hosted a seminar on financing environmentally sustainable projects through debt capital markets. Discussions highlighted credit enhancement's role in de-risking green bonds and attracting long-term investors. SECP leadership emphasized plans to streamline bond issuance, enhance disclosures, and expand credit enhancements to boost investor confidence.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-04-30•Georgia•National Bank of Georgia
First Vice Governor Ekaterine Mikabadze of the National Bank of Georgia attended a regional financial conference in Washington, D.C., discussing financial priorities to strengthen partnerships between Azerbaijan, Georgia, Türkiye, and the United States. She emphasized the demand for interconnected financial services due to rising economic activity along the Middle Corridor and highlighted cooperation on RTGS systems, IPS, and fintech initiatives. Mikabadze also addressed monetary policy risks, noting the bank's risk-based approach has maintained low inflation and focuses on price stability amid global uncertainty.
Policy & regulationCooperationCross-border cooperationMonetary policy decisions and developments
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2025-04-30•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia held an educational meeting at Kutaisi International University during Insurance Day events, focusing on insurance fundamentals and the actuarial profession. Led by Ana Kharatishvili, the session covered the role of actuaries, insurance history, and market overview, concluding with a Q&A. A Memorandum of Understanding will be issued to enhance student professional development in insurance, with plans for further educational projects.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Italy•Bank of Italy
The Bank of Italy, as Resolution Authority, published the 2024 annual accounts of the National Resolution Fund, detailing its balance sheet, income statement, and management report. The fund is a segregated asset pool distinct from the Bank's patrimony, with accounts prepared under Italian Civil Code principles. Recent regulatory changes delayed the publication deadline to April.
Data & statisticsRecovery and resolution
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2025-04-30•Italy•Bank of Italy
The Bank of Italy, as Italy’s National Resolution Authority, released the National Resolution Fund’s 2024 Annual Report, detailing financial statements and operational activities. The Fund's accounts adhere to the Italian Civil Code, with its capital segregated from the Bank of Italy’s capital. The report's publication timing aligns with 2023 amendments to reporting requirements.
Data & statisticsRecovery and resolution
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2025-04-30•China•Central Bank of the Republic of China
The People's Bank of China and national regulators issued a notice to standardize supply chain finance and electronic vouchers to support SME financing. The framework sets rules for enterprises, banks, and platforms, emphasizing prompt payments, reasonable costs, and risk management, while restricting information service institutions to non-financial roles without licenses.
Policy & regulationRules & requirements
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2025-04-30•China•Central Bank of the Republic of China
The People's Bank of China and the National Financial Regulatory Administration have revised the Management Measures for Bank Card Clearing Institutions, effective 1 November 2025, updating licensing, operations, and supervision requirements. The measures refine administrative licensing, introduce reporting obligations for overseas institutions, and set expectations for operations and supervisory management. Authorities will conduct outreach and update documents to ensure compliance and improved risk management frameworks.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-30•China•Central Bank of the Republic of China
The People’s Bank of China and the National Financial Regulatory Administration have issued revised rules for bank card clearing institutions, effective 1 November 2025, replacing the 2016 measures. The updated framework outlines licensing, operational, and supervisory requirements, including application conditions, administrative approvals, and risk management. Joint supervision by the two authorities will continue under the new regime.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-30•United States•National Credit Union Administration
In April 2025, the National Credit Union Administration (NCUA) issued two consent orders and one notice of prohibition, permanently barring three former credit union employees—Anh-Thu Nguyen, Amber Grabill, and Dorothy Ellis—from involvement with any federally insured depository institution. These actions are enforceable under Section 206 of the Federal Credit Union Act, typically applied in cases of legal violations or unsafe practices.
EnforcementInvestigations & enforcement actions
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2025-04-30•United States•National Credit Union Administration
The National Credit Union Administration liquidated Unilever Federal Credit Union due to insolvency, with no prospect of restoring viable operations. Member deposits are insured by the National Credit Union Share Insurance Fund up to USD 250,000. The credit union served 1,448 members and reported assets of USD 46.67 million.
SupervisionInterventionsRecovery and resolutionPrudential risks
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2025-04-30•Europe•European Banking Authority
The European Banking Authority (EBA) has launched a public consultation on draft amendments to its Regulatory Technical Standards (RTS) concerning risk weights for exposures secured by immovable property, driven by the revised Capital Requirements Regulation (CRR 3). The amendments update legal references to align with CRR 3 and propose aligning RTS on minimum loss given default (LGD) values for retail exposures secured by immovable property. The draft RTS are developed under Article 124(11) of Regulation (EU) 2024/1623, in collaboration with the European Systemic Risk Board.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-04-30•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier reported a decline in total net assets of undertakings for collective investment (UCIs) to EUR 5,749.779 billion as of 31 March 2025, down from EUR 5,957.264 billion the previous month, due to a negative financial market impact despite positive net capital investment. The number of UCIs decreased slightly to 3,124, with notable market performance linked to US tariff uncertainties and currency movements. The CSSF registered nine new UCIs and deregistered sixteen, highlighting ongoing adjustments in the sector.
Data & statisticsOther
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2025-04-30•Germany•BaFin
Germany’s Federal Financial Supervisory Authority (BaFin) reduced the sectoral systemic risk buffer for residential real estate financing from 2% to 1%, effective 1 May 2025, due to housing market stabilization and reduced overvaluation. The buffer, to be met with Common Equity Tier 1 capital, applies to risk positions involving German residential property mortgages. BaFin will request the European Systemic Risk Board to recommend reciprocal application by European Economic Area states to prevent circumvention through cross-border financing.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-30•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued an External Operational and Services Circular detailing fees for low-value payment systems managed by Banco de la República.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-30•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) will deprioritize enforcing its Small Business Lending rule under the Equal Credit Opportunity Act for entities outside the stay in Texas Bankers Association v. CFPB. Instead, the CFPB will focus on other consumer risks, including those affecting servicemen and veterans, citing fairness concerns. The Bureau aims to resolve the regulation's status to ensure fair treatment for all impacted entities.
SupervisionSupervision approach, priorities & toolkitConsumer and investor protection
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2025-04-30•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for March 2025.
Data & statisticsSupervisory data
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2025-04-30•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency drafted a resolution to amend banking and microfinance regulations to curb consumer lending and household debt. Measures include bans on new loans to borrowers with significant overdue payments, restrictions on unsecured consumer loans over five years, and a 350% risk weight for loans over three years. The draft also caps the debt burden ratio for unsecured loans with maturities of three to five years at 0.25.
Policy & regulationRules & requirementsLending
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert about phishing messages linked to Industrial and Commercial Bank of China (Asia) Limited. The HKMA stressed that banks won't send messages with transaction hyperlinks or request sensitive information via phone, email, or SMS. Individuals who shared personal information or conducted transactions in response should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Hongkong and Shanghai Banking Corporation Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. It advised affected individuals to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the Exchange Fund's abridged balance sheet and Currency Board Account for 31 March 2025, reporting total assets of HKD 3,978.9 billion, a decrease of HKD 30.1 billion from February. The decline in foreign currency assets was due to withdrawals of Fiscal Reserves placements and reduced month-end balances of unsettled securities purchases, while Hong Kong dollar assets rose from increased bank placements. The Monetary Base increased by HKD 1.2 billion to HKD 1,977.1 billion, and the Backing Ratio rose to 110.55% due to interest income and revaluation gains.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) released analytical data on Hong Kong's foreign currency reserves and liquidity for March 2025, using the IMF's Special Data Dissemination Standard (SDDS) Template. This release is part of HKMA's monthly press releases on Exchange Fund data, aligning with the IMF's SDDS and transparency policy.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported March 2025 monetary statistics, noting a 0.8% rise in total deposits and a 1.1% increase in total loans and advances. Hong Kong dollar deposits grew 1.6%, while renminbi deposits fell 7.3% due to corporate fund flows. The release highlighted the volatility of monthly statistics, advising assessment over longer-term trends.
Data & statisticsMonetary data
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's March 2025 residential mortgage survey revealed a 29.3% increase in applications to 8,456, but a decline in approvals and drawdowns by 5.3% and 9.6%, respectively. Primary market lending approvals fell 16.8%, while secondary market approvals rose 6.2%. The outstanding mortgage loan value slightly increased to HK$1,877.7 billion, with a stable delinquency ratio of 0.13%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's end-March 2025 survey reports an increase in residential mortgage loans (RMLs) in negative equity, rising to 40,741 cases with an aggregate value of HKD 205.9 billion. The unsecured portion grew to HKD 16.4 billion, and the delinquency ratio slightly increased to 0.17%. Most cases involve bank staff housing loans or RMLs under the mortgage insurance programme, covering first mortgages in negative equity.
Data & statisticsAsset quality
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2025-04-30•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced the de-registration of Large Yacht Corporation Limited under the Designated Businesses (Registration & Oversight) Act 2015, effective 30 April 2025, in accordance with section 12(1)(a) of the Act.
SupervisionAuthorisations & approvalsAML and CFTWhistleblowing
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2025-04-30•Middle East•Arab Monetary Fund
The Arab Monetary Fund's Quarterly Bulletin reports mixed performance in Arab stock markets for Q1 2025, with the AMF Composite Index rising 1.55% and total market capitalisation falling 1.45% to USD 4.32 trillion. The divergence in market performance is attributed to new US tariffs and supply-chain pressures, partially mitigated by central banks' monetary policies supporting liquidity.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-30•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan has re-registered and issued a new insurance licence to Bima, following its name change to Bima Insurance and Reinsurance Organization LLC. The previous licence granted to Bima Insurance Organization LLC was declared invalid.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-04-30•Europe•European Central Bank
The European Central Bank's 2024 Euro money market study shows a 38% increase in daily turnover to EUR 1.8 trillion, driven by secured and unsecured transactions and overnight index swaps, despite a decline in short-term securities and FX swaps. The study highlights a convergence of short-term rates towards the deposit facility rate and persistent arbitrage opportunities due to rate divergences. Key dynamics include declining excess liquidity, a shift to collateral abundance, and ECB policy adjustments affecting market activity and pricing.
Research
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2025-04-30•Europe•European Central Bank
The European Central Bank's Consumer Expectations Survey shows euro area consumers strongly prefer substituting away from US products if trade tariffs are imposed, with a median substitution score of 80. About 44% of respondents indicated a preference-driven shift, largely independent of tariff rates, with a median score of 95. The willingness to substitute correlates with higher household income and discretionary spending.
Research
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2025-04-30•Europe•European Central Bank
The European Central Bank's Economic Bulletin reviews the first national medium-term fiscal-structural plans under the revised Stability and Growth Pact, highlighting a shift to a Debt Sustainability Analysis-based approach. The article discusses the European Commission's proposal to use the national escape clause for increased defence spending, capped at 1.5% of GDP annually from 2025-28. While most plans align with fiscal requirements, deviations could weaken debt reduction in high-debt countries.
Policy & regulationGuidance & interpretation
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2025-04-30•Europe•European Central Bank
The European Central Bank's Governing Council has revised the Eurosystem's overnight credit facility for euro area central counterparties (CCPs), making it immediately available as a crisis-related liquidity backstop. Access is governed by the TARGET Guideline, with safeguards ensuring only financially sound CCPs with robust liquidity risk management can utilize the facility. Borrowing is priced at the ECB marginal lending facility rate, with overnight maturity and collateralisation requirements aligned with current provisions.
Policy & regulationRules & requirementsLiquidity riskCCPs
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2025-04-30•Europe•European Central Bank
The European Central Bank's Euro money market study 2024 reports a 38% increase in average daily turnover to EUR 1.8 trillion from end-2022 to end-2024, driven by banks adapting to declining excess liquidity and policy rate changes. Money market rates fully reflected ECB rate adjustments, with secured and foreign exchange swap transactions comprising over half of total turnover. Trading remained concentrated in short-term tenors, with non-banks as active counterparties, and secured trading with public institutions rose significantly following changes in deposit remuneration.
ResearchFinancial and market indicatorsSupervisory data