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2025-04-30•Jordan•Jordan Securities Commission
The Jordan Securities Commission attended the nineteenth annual meeting of the Union of Arab Securities Authorities. Discussions included the Union's 2024 achievements, financial position, and 2025 priorities, such as Islamic sukuk guidelines, fintech cooperation, and cyber risks. A proposal suggested forming working groups to implement the strategic plan, focusing on legislative convergence, AML cooperation, alternative finance, market risk guidance, sustainability principles, and capacity-building.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
The Brazilian Superintendence of Private Insurance (SUSEP) has launched an online registration system for Mutualistic Property Protection Associations, requiring registration by 15 July 2025 to continue operations. Associations must amend their bylaws to comply with Article 88-E of Decree-Law No. 73 before registering. Non-compliance will result in termination of activities and potential sanctions, with further rules on administrator authorization forthcoming.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-30•Spain•Bank of Spain
The Bank of Spain reported that Spain remained a net lender globally, with a current and capital account surplus of EUR 63.0bn (3.9% of GDP) over the 12 months to February 2025, up from EUR 58.1bn (3.8% of GDP) the previous year. The current account surplus was EUR 44.6bn, driven by a strong tourism surplus, while the capital account surplus rose to EUR 18.4bn, influenced by Next Generation EU-related flows. The financial account balance, excluding the Bank of Spain, reached EUR 113.8bn, with significant contributions from other and direct investments.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•South Africa•South African Reserve Bank
The South African Reserve Bank released its March 2025 template on international reserves and foreign currency liquidity, detailing official reserve assets at USD 67,450 million. The report includes USD 64,272 million in special drawing rights basket currencies and USD 3,178 million in non-basket currencies. It also outlines predetermined net drains and contingent liabilities, with significant outflows and positions in forwards and futures.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Brazil•Brazilian Pension Funds Authority (PREVIC)
The Brazilian Pension Funds Authority (PREVIC) extended its intervention in Portus Instituto de Seguridade Social until 30 June to complete steps for a February 2025 agreement. This includes starting pension contributions from sponsoring dock companies, paying benefit recomposition amounts, and finalizing debt composition terms. The intervention, ongoing since 2011 due to technical imbalances, may be lifted earlier if requirements are met, aiming to ensure the technical balance of Portus's benefit plans.
SupervisionInterventionsOther
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2025-04-30•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam and the Sustainable Finance Institute Asia hosted an ASEAN Taxonomy Board meeting and webinar on the ASEAN Taxonomy for Sustainable Finance. Discussions focused on developing Version 4 to expand coverage and practical use following Version 3's finalisation. Key topics included interoperability, alignment, and national taxonomy mapping for ASEAN Member States.
Policy & regulationInternational standards & recommendationsGreen taxonomy
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2025-04-30•Estonia•Finantsinspektsioon
Estonia's Financial Supervisory Authority (Finantsinspektsioon) fined Bondora AS EUR 200,000 for breaching responsible lending principles. The company failed to assess required consumer credit indicators and ensure contractual liabilities could be met, violating the Creditors and Credit Intermediaries Act. Bondora AS may contest the decision legally.
EnforcementInvestigations & enforcement actionsLending
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2025-04-30•Germany•German Bundesbank
The German Bundesbank released 2023 data on Germany's direct investment positions, noting stable outward investment at EUR 1,701bn and a 7% increase in inward investment to EUR 1,020bn. Outward investments concentrated in Europe, the Americas, and Asia, focusing on manufacturing and financial services. Inward investments were primarily in financial services and manufacturing, with the United States as the largest capital provider.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) and the Brazilian Financial and Capital Markets Association (ANBIMA) issued guidance on communication procedures for compliance events affecting Fundos de Investimento em Direitos Creditórios (FIDCs). This guidance is part of their cooperation agreement to enhance self-regulation in Brazil's fund industry.
Policy & regulationGuidance & interpretationDomestic cooperation
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2025-04-30•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) released its April 2025 update, introducing a new Integrity Plan and Resolution CVM 228, revising internal rules and establishing a Data Governance Office. It includes surveys on sustainability reporting and integrity, highlights increased crowdfunding activity, and details enforcement actions against entities for alleged irregularities. The CVM also imposed fines for voting and control failures, accepted settlement proposals, and issued guidance on public offerings and FIDC reporting.
Policy & regulationRules & requirementsCorporate governance
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2025-04-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia's Supervisory Board discussed amendments to its statute and reviewed procedures for nominating the next Governor, preparing for the 2025 selection. The Governor is selected by the Board and confirmed by the President of Estonia, with a term of seven years. Current Governor Madis Müller serves until June 2026.
Institutional developmentMandate & organizational structureLeadership change and appointments
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2025-04-30•Estonia•Central Bank of Estonia
Estonia's Central Bank Governor, Madis Muller, warned that rising protectionism could cut Estonian economic growth by half a percentage point. The main impact would be indirect, affecting key export markets reliant on the US. He advised against retaliatory tariffs, advocating for alternative trade relationships and better use of the EU's internal market.
Monetary policyMonetary policy assessments & outlooks
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2025-04-30•Estonia•Central Bank of Estonia
The Central Bank of Estonia, via Governor Madis Müller, warned that rising protectionism could impact small economies like Estonia, potentially reducing growth by half a percentage point. Estonia's key export markets are indirectly affected by US trade policies, discussed at recent International Monetary Fund and World Bank meetings. The remarks cautioned against Europe imposing high tariffs, advocating for maintaining trade relationships and enabling businesses to adapt supply chains.
Research
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2025-04-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has approved Methodological Guidance for financial institutions on conducting institutional risk assessments related to money laundering, terrorist financing, and proliferation financing. The guidance aligns with international practices and domestic legal requirements, mandating annual risk assessments and documentation under Azerbaijan’s AML/CFT law.
Policy & regulationGuidance & interpretationRisk management
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2025-04-30•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan released its annual Sustainable Finance Report, detailing 2024 measures under the Sustainable Finance Roadmap. The report aims to enhance financial sector transparency by disclosing actions on climate change-related risk management, structured around Azerbaijan’s socio-economic agenda, global climate risks, and future initiatives.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia fined JAGS Money Sdn. Bhd. MYR 6,000 for failing to comply with financial sanctions screening under the Money Services Business Act 2011. The breaches involved delays in updating the sanctions database and screening new customers. JAGS has since improved its procedures, and the penalty was paid on 17 March 2025.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia imposed a MYR 29,000 penalty on Merchantrade Asia Sdn. Bhd. for non-compliance with financial sanctions screening under the Money Services Business Act 2011. The breaches involved inadequate oversight and updating of sanctions databases. Merchantrade has enhanced its controls and training, and the penalty reflects various factors including severity and remedial actions.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-04-30•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has taken enforcement action against Safaghat W.L.L., a licensed crowdfunding platform, following an investigation. Safaghat has been instructed to cease services to existing clients and halt new client onboarding, while maintaining transparency with customers. The CBB is coordinating with relevant authorities to ensure financial system stability.
EnforcementInvestigations & enforcement actionsCrowdfundingCompliance
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2025-04-30•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia reported international reserves of USD117,486 million and other foreign currency assets of USD4.3 million as of end-March 2025. Over the next 12 months, pre-determined short-term outflows are USD11,994.6 million, with net short forward positions at USD26,836.5 million and projected foreign currency inflows of USD2,580.6 million. Contingent short-term net drains are limited to USD419.0 million in government guarantees, with reserves remaining usable.
Data & statisticsBalance of payments and other external statistics
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2025-04-30•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) issued a warning against Wangro Antoun, also known as Yasser Antoun, for operating without a license in the Greater Toronto Area and Windsor. Antoun is allegedly misrepresenting himself as an insurance broker and offering discounted auto insurance premiums. FSRA advises consumers to verify broker licensing to avoid risks such as invalid policies and increased insurance costs.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-30•Malaysia (Labuan)•Labuan Financial Services Authority
The Labuan Financial Services Authority's Market Report 2024 highlights growth in core sectors, Islamic finance, digital services, and ESG-related business, with licensed entities reaching 838 by year-end. Key developments include a 21-fold increase in Shariah-compliant securities tokens to USD1.05 billion and growth in leasing and capital markets. The Director General outlined priorities for innovation, regulatory enhancement, and international visibility for Labuan IBFC.
Data & statisticsMarket development
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2025-04-30•Global•World Federation of Exchanges
The World Federation of Exchanges recapped WFEClear 2025, highlighting discussions on CCP design, risk management, and regulatory frameworks, with key topics including global CCP collateral, US regulation under Dodd-Frank, and challenges in 24/7 clearing and AI in margining. TMX Group was announced as the host for WFEClear 2026.
Policy & regulationCooperationCCPsMarket infrastructure
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2025-04-30•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has launched Phase 2 of its 2025 “Public Empowerment through Capital Market Knowledge Initiative,” seeking collaboration from capital market and digital asset operators, and financial associations. Participants must submit an expression of intention and a detailed education promotion plan to qualify for honorary recognition. Now in its third year, the initiative has engaged 43 organizations, with 22 participating in 2024, delivering financial education over 12 million times.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority and the National Agency for Strategic Management of State Holdings and Monitoring of the Performance of Public Institutions and Enterprises have enhanced their cooperative efforts.
Policy & regulationCooperationDomestic cooperation
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2025-04-30•United Kingdom•Bank of England
The Bank of England has launched its renewed Real-Time Gross Settlement service, RT2, as of 28 April 2025. This platform aims to enhance wholesale settlement efficiency and foster competition, aligning with the Bank's strategic objectives for RTGS and CHAPS. RT2 complements the 2023 introduction of ISO 20022 payments for CHAPS, targeting improved resilience, interoperability, and user functionality.
Policy & regulationImplementation, projects & pilotsMarket infrastructurePayments and payment systems
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2025-04-30•Malta•Central Bank of Malta
The Central Bank of Malta released its 2024 Annual Report in Valletta, with speeches from Acting Governor Alexander Demarco and other officials. The report covers economic, monetary, and financial developments in Malta and globally, along with organisational updates and financial statements.
Institutional developmentOtherAccounting and financial reporting
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2025-04-30•Malta•Central Bank of Malta
The Central Bank of Malta's Business Conditions Index indicated a slight improvement in annual business activity growth for March, remaining moderately above its historical average. Meanwhile, the Economic Policy Uncertainty Index increased from February, surpassing its historical average due to heightened global geopolitical tensions from trade tariffs.
Data & statisticsEconomic data and developments
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2025-04-30•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's April 2025 Economic Report highlights continued domestic business expansion and easing inflation, with the naira depreciating to NGN 1,595.05 per USD and external reserves rising to USD 38.92 billion. The report maintains a positive growth outlook for 2025, driven by oil sector reforms and foreign exchange market improvements, while cautioning on inflation risks and potential constraints from global oil demand and adverse weather.
Research
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2025-04-30•Europe•European Payments Council
The European Payments Council has published the "EDS Onboarding and Registration Guide" for Verification of Payee scheme participants and Routing and/or Verification Mechanisms to register for the EPC Directory Service. The guide offers step-by-step instructions and recommendations on choosing between standard onboarding and simplified registration, depending on the participant or RVM profile. It also includes guidance on obtaining a BIC and accessing APIs.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-04-30•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Financial Stability Committee decided to maintain the countercyclical capital buffer at 2.5% during its March 2025 meeting, citing financial stability risks and the resilience of financial institutions. The buffer remains at the upper end of the Committee's neutral range, with the last change implemented in March 2024.
Policy & regulationRules & requirementsFinancial stability and systemic risk
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2025-04-30•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority plans to extend the risk-weight floors for Swedish mortgage and commercial real estate exposures for two years under Article 458 of the Capital Requirements Regulation. The mortgage risk-weight floor remains at 25%, addressing concerns over banks' high domestic housing market exposure. For commercial real estate, the floors are 35% for property and 25% for residential property, reflecting ongoing sector risks and potential credit losses.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-30•United States•U.S. Financial Services Committee
U.S. House Financial Services Committee Chairman French Hill discussed efforts on payment stablecoin legislation and a digital asset market structure framework on the Crypto in America podcast, emphasizing crypto's transformative potential. Hill noted ongoing discussions with Senate counterparts to advance these bills. The Committee announced a joint hearing on 6 May focused on digital assets and innovation.
Policy & regulationRules & requirementsStablecoinsBlockchain and distributed ledger technology
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2025-04-30•United States•U.S. Financial Services Committee
The U.S. House Committee on Financial Services advanced budget reconciliation provisions aimed at reducing the federal deficit, exceeding the USD 1 billion target set by the Concurrent Budget Resolution. Chairman French Hill noted the provisions were developed in response to President Trump's request to curb federal spending.
Policy & regulationRules & requirementsOther
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2025-04-30•Chile•Central Bank of Chile
The Central Bank of Chile has launched the National Financial Education Olympiad in collaboration with Inacap, marking its 100th anniversary. This initiative aims to enhance financial education among secondary students and teachers across Chile. The competition will progress from an online stage to in-person semifinals and a national final, promoting broad participation and engagement.
Financial literacy & educationFinancial literacy and education
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2025-04-30•Chile•Central Bank of Chile
The Central Bank of Chile released its 2024 Integrated Report, detailing management and performance in its centenary year. The report, structured around the 2023–2027 Strategic Planning framework, covers economic management and environmental, social, and governance performance, alongside 2024 financial statements.
Institutional developmentOtherAccounting and financial reporting
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2025-04-30•Russia•Central Bank of Russia
The Central Bank of Russia's 2024 review showed non-governmental pension funds' portfolios exceeded RUB 8 trillion, driven by the long-term savings programme (LSP) and investment returns. In its first year, the LSP attracted 2.8 million participants, 50% of non-governmental pension coverage. Additionally, four new non-governmental pension funds entered the market, and Q4 saw a shift towards money market instruments and higher deposit allocations.
Data & statisticsFinancial and market indicators
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2025-04-30•Russia•Central Bank of Russia
The Central Bank of Russia has streamlined supervisory interactions with specialised depositories by limiting mandatory reporting to serious violations by management companies and joint-stock investment funds. A list of non-reportable cases has been established to reduce the operational burden on collective investment market participants, excluding temporary or technical breaches that pose no substantial risks.
Policy & regulationRules & requirementsSupervision process and methodologies
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2025-04-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released its 2024 annual report, highlighting alignment with strategic goals and a risk-based resource prioritization. Key areas include digitalization, data sharing, and enhanced reporting efficiency, alongside increased efforts against economic crime through industry collaboration. The report also notes the adoption of accrual accounting in accordance with Government Accounting Standards.
Institutional developmentGovernanceOperational excellence
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2025-04-30•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway announced the 2025 supervisory levy, totaling NOK 616,488,000, to be covered by supervised entities. The Norwegian Tax Administration’s State Collection Agency will handle invoicing, excluding entities wound up or losing their license in 2024. Separate fees apply to certain cross-border activities, including Norwegian agents of EEA payment institutions and non-Norwegian EEA UCITS management companies.
Policy & regulationRules & requirementsProcurement
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2025-04-30•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority (Finanstilsynet) inspected PricewaterhouseCoopers AS after errors in a public interest entity's 2022 financial statements were found, specifically regarding non-compliance with IAS 36 Impairment of Assets. PwC acknowledged audit weaknesses and has implemented remedial actions, including correcting the error in the 2024 accounts under IAS 8. Finanstilsynet will monitor PwC's measures in future supervisory activities.
SupervisionReviews, inspections & stress testsAuditing
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2025-04-30•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority's ICT inspection report on DNB Livsforsikring AS found deficiencies in ICT governance and control, including weak reporting and insufficient contingency planning. It highlights unclear ICT risk responsibilities, limited ICT competence in risk management, and inadequate reporting routines. DNB Liv plans to enhance ICT governance with a new section led by a Chief Digital Officer, improved reporting, expanded business impact analyses, and annual scenario exercises.
SupervisionReviews, inspections & stress testsOperational risk and resilience
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2025-04-30•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets held a session to enhance consumer protection by aligning national legislation with EU standards. Involving financial sector stakeholders, it focused on the impact of EU directives on payment account fee comparability, distance contracts, accessibility requirements, consumer credit, and residential property credit agreements. This is part of a broader effort to harmonize Moldova's financial framework with EU requirements.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-04-30•Chile•Chile Financial Market Commission
The Chile Financial Market Commission reported a 2.24% decline in banking-system loans over 12 months, driven by decreases in commercial and consumer credit, while cooperative lending grew 6.52%, led by consumer loans. Banking profits for March rose 1.07% month on month and 17.16% year on year, with a return on average equity of 15.77%. Cooperative profits increased 7.59% from February and 70.56% year on year, with a return on equity of 13.71%.
Data & statisticsLendingAsset quality
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2025-04-30•Chile•Chile Financial Market Commission
The Chile Financial Market Commission fined Lautaro de Buin S.A.D.P. for failing to meet disclosure obligations by not submitting March 2024 financial data on time, as required by General Rule No. 201. The rule mandates quarterly reporting on operating capital and other obligations within 30 days post-quarter. The fine, set at UF 210 under Exempt Resolution No. 3,861, emphasizes the importance of timely compliance.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-04-30•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets approved several capital market and consumer protection measures, including share capital restructurings for three issuers and a corporate reorganisation. The Commission also rejected multiple consumer complaints and requests for reconsideration related to insurance compensation and prior decisions.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-30•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted discussions between Governor Hassan Abdalla and Mohammad Al-Tuwaijri, Secretary-General of the Egyptian-Saudi Supreme Coordination Council, to enhance bilateral cooperation in the banking sector and economic integration between Egypt and Saudi Arabia. The meeting, attended by Deputy Governor Tarek ElKholy and other officials, focused on reinforcing cooperation and consolidating bilateral relations.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) held a Party committee meeting to discuss the disciplinary review and investigation of Wang Jianjun for suspected serious violations. The meeting emphasized strengthening anti-corruption efforts, enhancing accountability, and implementing key decisions from the recent Politburo meeting to support market stabilization and technology innovation.
EnforcementInvestigations & enforcement actionsOther
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2025-04-30•China•China Banking and Insurance Regulatory Commission
China's NFRA updated its Administrative Penalty Measures, now covering financial holding companies and refining enforcement. Changes include collective decision-making for complex cases, enhanced investigations, rights protections, and execution rules, including limits on late-payment surcharges. Expanded relief mechanisms and internal constraints aim to correct erroneous penalties and improve accountability.
Policy & regulationRules & requirementsCompliance
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2025-04-30•China•China Banking and Insurance Regulatory Commission
The People's Bank of China and the National Financial Regulatory Administration have issued updated management measures for bank card clearing institutions, effective 1 November 2025, replacing the 2016 framework. The revised measures outline conditions and processes for key approvals, operational requirements, and supervisory provisions. The authorities will jointly oversee the ongoing supervision of these institutions under the new framework.
Policy & regulationRules & requirementsMarket infrastructure
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2025-04-30•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration issued revised Administrative Penalty Measures, expanding the scope from banking and insurance to all financial institutions. Key updates include collective decision-making for complex cases, refined investigation procedures, and enhanced digital supervision. The measures, effective 1 July 2025, aim to improve penalty decision processes and external coordination.
Policy & regulationRules & requirementsCompliance
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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, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-04-30•Moldova•National Bank of Moldova
National Bank of Moldova Governor Anca Dragu emphasized efforts to expand affordable housing finance and integrate with the European financial system at the European Covered Bond Council meeting. Moldova aims to align its housing legislation with EU standards and has joined the Single Euro Payments Area for euro payments. Dragu also highlighted priorities like financial market reform, digitalisation, and establishing a modern stock exchange with support from the Bucharest Stock Exchange.
Policy & regulationReform agendas & prioritiesMarket development
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2025-04-30•Congo•Central Bank of Congo
The Central Bank of Congo has initiated a national open tender to select a contractor for rehabilitating the pedestrian footbridge connecting its headquarters and the Hôtel des Monnaies. The tender dossier is available for purchase, and eligibility criteria include a minimum of five years of legal existence, certified financial statements, and a bank bid guarantee.
Institutional developmentProcurement
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2025-04-30•Kazakhstan•National Bank of Kazakhstan
The National Bank of Kazakhstan hosted a conference in Almaty on "Monetary policy and financial stability in the context of global and domestic shocks," discussing monetary policy instruments, inflation forecasting, and macroeconomic trends. Key topics included the effectiveness of FAVAR and BVAR models in improving short-term inflation forecasts and the impact of price shocks and structural imbalances on growth. Eight research papers addressed challenges like raw material dependence and low investment activity.
ResearchMonetary policy decisions and developmentsFinancial stability and systemic risk
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2025-04-30•South Korea•Bank of Korea
The Bank of Korea reported a decline in March 2025 interest rates, with new deposit rates falling to 2.84% and new loan rates to 4.36%. Rates on outstanding deposit and loan balances also decreased to 2.30% and 4.55%, respectively.
Data & statisticsMonetary data
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2025-04-30•Bhutan•Royal Monetary Authority of Bhutan
The Royal Monetary Authority of Bhutan announced a phased regulatory approach to cryptocurrency, permitting crypto mining and exchanges only for Gelephu Mindfulness City registered entities. On-ramping for crypto trading through domestic banks remains restricted. The RMA aims to protect citizens and financial stability while supporting responsible innovation and enhancing domestic cryptocurrency capabilities.
Policy & regulationRules & requirements
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2025-04-30•United States•U.S. Department of the Treasury
The U.S. Treasury and U.S. Trade Representative hosted European Commission representatives for the seventh meeting of the Joint Committee under the 2017 U.S.-EU Agreement on Prudential Measures Regarding Insurance and Reinsurance. The parties exchanged updates on the agreement's implementation, reaffirmed its importance, and agreed on its effective functioning. The agreement addresses reinsurance, group supervision, and insurance information exchange between supervisors.
Policy & regulationCooperationCross-border cooperation
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2025-04-30•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority's April 2025 Insurance Risk Dashboard assesses the European insurance sector's risks as stable and medium overall, with vulnerabilities from market volatility and geopolitical uncertainty. Global macroeconomic and credit risks remained medium, while market risks were elevated with high bond and equity volatility. Liquidity, solvency, and profitability risks were stable, though ESG and cyber risks showed a rising outlook.
SupervisionRisk monitoring & watch pointsCredit riskLiquidity riskMarket risk and volatility
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2025-04-30•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority has released Consultation Paper No. 3 of 2025, inviting feedback on proposed amendments to the regulatory framework for Authorised Persons and Recognised Bodies concerning cyber risk management. The proposals enhance existing guidance on IT risk management and governance principles to mitigate cyber threats and crime.
Policy & regulationRules & requirementsCyber resilience
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2025-04-30•Barbados•Central Bank of Barbados
The Central Bank of Barbados released its Review of Barbados’ Economy for Q1 2025, assessing economic performance and providing the Governor's outlook for the year. The report covers economic growth, debt-to-GDP ratio, inflation, unemployment, and international reserves, as well as the Government’s fiscal performance for 2024/25. Governor Dr. Kevin Greenidge presented the findings at a press conference.
ResearchEconomic data and developments
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2025-04-29•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia inaugurated the 18th Jornada Monetaria, focusing on "Monetary Policy in the Digital Era," highlighting the rise in electronic payment channels and virtual asset transactions. Acting President Edwin Rojas Ulo noted a 94% increase in virtual-asset operations in Q1 2025 compared to H2 2024, with transaction values rising significantly. This growth is attributed to the central bank's June 2024 resolution allowing electronic payment channels for these transactions.
Monetary policyOtherFintech and insurtechMonetary policy decisions and developments
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2025-04-29•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia concluded its XVIII Monetary Conference, focusing on digital payments' impact on monetary policy and the economy. Discussions highlighted central banks' roles in money issuance, payment systems, and CBDC challenges, emphasizing financial inclusion and stability. Regional experiences, such as Brazil's Pix and Argentina's stablecoin use, underscored the need for robust regulatory frameworks for virtual assets.
Policy & regulationReform agendas & prioritiesCBDCStablecoins
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2025-04-29•Uruguay•Central Bank of Uruguay
The Central Bank of Uruguay announced economist Ana Claudia de los Heros as the new Vice President of its Board. De los Heros emphasized priorities such as meeting the inflation target, adapting regulations, and maintaining agile supervision. She has been with the Central Bank since 1999, previously leading the Payments System Management.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) updated its Q&A on the prospectus regime, adding guidance on replacing a prospectus under Regulation (EU) 2024/2809. Issuers with securities already traded on regulated markets may be exempt from publishing a prospectus if they meet specific conditions, requiring an abridged document of up to 11 pages instead. This document must be publicly available, submitted to the CNMV via the EEA procedure, and published on relevant websites, though it does not require CNMV approval.
Policy & regulationGuidance & interpretationSecurities offerings and listings
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2025-04-29•Kosovo•Central Bank of the Republic of Kosovo
Governor Ahmet Ismaili of the Central Bank of the Republic of Kosovo participated in a World Bank Treasury forum, discussing Kosovo's financial-sector priorities and progress. Key developments include Kosovo's transition to a donor, its first sovereign credit rating, and steps toward EU financial alignment. Ismaili also highlighted digital innovation efforts, including joining the Single Euro Payments Area and expanding open banking.
Policy & regulationReform agendas & prioritiesOther
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2025-04-29•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority acknowledged the Process Review Panel's 2024 Annual Report, which assessed 20 cases related to licensing, complaint handling, investigations, and disciplinary actions. The report recognized the IA's efforts to improve operational effectiveness, and the IA committed to addressing the panel's observations and recommendations.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2025-04-29•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released March 2025 statistics showing a net deposit outflow of EUR 1 million, reducing total deposits to EUR 55.9 billion, with annual growth slowing to 7.1%. Conversely, total loans increased by EUR 429.9 million to EUR 25.5 billion, raising the annual growth rate to 3.1%. Resident deposits fell by EUR 22.5 million, while resident loans rose by EUR 269.9 million, driven by household and corporate borrowing.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-04-29•Colombia•Superintendencia Financiera de Colombia
Francisco Duque, Acting Director for Research, Innovation and Development at Colombia's Financial Superintendence, emphasized taxonomy, information, and equity in advancing green projects. He highlighted the need for regulation to enhance project information access and monitoring, and called for improved capacity to assess impacts. Duque also advocated for private support, state-backed guarantees, and greater capital market and community involvement in sustainable financing.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-29•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg's Cahier d’études No. 197 examines Luxembourg-based captive financial institutions (CFIs) linked to private equity or real estate funds, highlighting limited external borrowing. In 2022, CFIs with credit exposures below 5% of liabilities represented 60% of CFIs and 63% of assets, while loan-reliant CFIs, with 70% credit exposure, accounted for 15% of CFIs and 10% of assets. The study notes a growing creditor network from 2014 to 2022, with German banks financing real estate and US banks funding private equity.
ResearchCorporate governance
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2025-04-29•Greece•Bank of Greece
The Bank of Greece's March 2025 statistics indicate accelerated year-on-year growth in total credit to the domestic economy at 6.9% and total deposits at 5.1%. Credit to the private sector grew 10.3% year-on-year, driven by corporations, while private sector deposits increased by EUR 2,405 million, supported by corporate deposits. General government deposits decreased by EUR 1,046 million, with annual growth slowing to 12.1%.
Data & statisticsMonetary data
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2025-04-29•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission approved the registration of Fundo Elefantes Bay, a private subscription venture capital fund managed by IFA – Sociedade Gestora de Organismos de Investimento Colectivo, S.A. The fund will invest in equity and debt instruments of companies in Baia dos Elefantes, Benguela, and may invest up to 50% of its assets in securities on regulated markets.
SupervisionAuthorisations & approvalsLicence approval
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2025-04-29•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has issued guidelines for National Competent Authorities to prevent and detect market abuse in crypto assets under the Markets in Crypto-Assets Regulation (MiCA). The guidelines aim to ensure consistent supervision across the EU, leveraging ESMA’s experience under the Market Abuse Regulation (MAR) and addressing the cross-border nature of crypto trading. Authorities are encouraged to develop a common approach through dialogue with industry and other NCAs.
Policy & regulationGuidance & interpretationMarket abuse
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2025-04-29•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority (TIRA) announced a collaboration with the Tanzania Police to enhance road safety and motor vehicle insurance effectiveness. The partnership aims to address motor insurance crime, increase insurance awareness among police, and explore insurance market opportunities. TIRA highlighted the police's role in enforcing motor insurance compliance.
Policy & regulationCooperationOther
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2025-04-29•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has updated its public warning list, adding five investment projects, bringing the total to 433. The newly listed projects include Livaxxen, BTCMiner, CoinMall, Raise My Funds, and NSBroker. The Commission emphasized its ongoing efforts in investor protection and noted recent actions by the Cyber Police to block access to suspected scam websites.
SupervisionAlertsSanctions list update
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2025-04-29•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank reported an improvement in Dutch pension funds' funding ratios in Q1 2025, with the average funding ratio rising to 119.6% due to a greater decline in liabilities than investments. Total investments fell by 5.8% to EUR 1,589 billion, while liabilities decreased by 8.5% to EUR 1,328 billion, influenced by higher interest rates. The policy funding ratio increased by 0.6 percentage points to 117.8%.
Data & statistics
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2025-04-29•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets fined Achmea Real Estate B.V. EUR 1,700,000 for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Act by its predecessor, Syntrus Achmea Real Estate & Finance B.V. The violations involved late reporting of unusual transactions and inadequate ongoing monitoring from 2018 to 2022. The case was settled with a 15% fine reduction under AFM’s simplified fine settlement procedure.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-04-29•Mozambique•Insurance Supervision Institute of Mozambique
The Insurance Supervision Institute of Mozambique's 2019 Annual Report highlights a 21.2% sector growth, with insurance penetration at 1.67%. Gross written premiums rose in life (27.5%) and non-life (20.3%) segments, while net profit reached MZN 1,575.7 million. The report notes improvements in solvency margin coverage, complementary pension fund performance, and consumer protection efforts addressing 39 complaints.
Data & statisticsActivity and performance reporting
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2025-04-29•Mozambique•Insurance Supervision Institute of Mozambique
The Insurance Supervision Institute of Mozambique appointed António Isaac Jeco Chiau and Mércio Filipe Sitoe as new executive administrators. Mozambique’s Minister of Economy and Finance, Adriano Maleiane, emphasized priorities such as sustaining insurance market growth, enhancing microinsurance, and revisiting legislation. He also advocated for increased co-insurance use and improved insurance financial literacy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Mozambique•Insurance Supervision Institute of Mozambique
The Insurance Supervision Institute of Mozambique launched the Bank Supervision Application (BSA), a web-based platform to enhance supervision of the insurance and pensions sector. Part of broader reforms with the Ministry of Economy and Finance and the Bank of Mozambique, it aims to modernize supervisory tools and improve data management. Originating in 2003 as a regional initiative, BSA adapts banking supervisory technology for advanced data analysis and risk management.
SupervisionInnovation & testingSupervision process and methodologies
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2025-04-29•Morocco•Moroccan Insurance Authority (ACAPS)
Morocco's ACAPS and Oman's FSA are co-hosting a regional seminar in Muscat on 29–30 April 2025 to discuss expanding insurance coverage in the Middle East and North Africa. The event will address market development challenges and opportunities, focusing on modernising insurance markets, consumer protection, financial education, sustainable insurance, and innovation. This initiative aligns with ACAPS's memorandum of understanding with the FSA on technical cooperation and regulatory harmonisation.
Policy & regulationCooperationMarket development
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2025-04-29•Ireland•Central Bank of Ireland
The Central Bank of Ireland has appointed Mícheál O’Keeffe as Director of Policy and International, joining the Senior Leadership Team to lead financial regulation development. O’Keeffe, currently a Senior Advisor to Minister Paschal Donohoe, has held various roles at the Central Bank of Ireland and the European Central Bank.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-29•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority organized a training day on United Nations targeted financial sanctions for its supervised entities and staff. The sessions focused on the legal framework, current Security Council sanctions, the Foreign Affairs Ministry’s role, and how freezing and seizure measures are applied under UN resolutions.
Policy & regulationGuidance & interpretation
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2025-04-29•Georgia•Insurance State Supervision Service of Georgia
The Insurance State Supervision Service of Georgia held an educational session at Kutaisi No41 Public School of Physics and Mathematics during Insurance Day week, highlighting insurance and the actuarial profession. Ana Kharatishvili, President of the Service, presented on insurance history, actuarial roles, and professional development, linking the event to Georgia's Insurance Day and the National Financial Education Strategy.
Financial literacy & educationFinancial literacy and education
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2025-04-29•Italy•Bank of Italy
The Bank of Italy's Financial Stability Report (No. 1/2025) highlights increased financial-stability risks following new US tariffs, despite easing tensions. Italy's financial environment remains stable, with good government bond market liquidity and rising housing prices, though corporate profitability and debt-servicing capacity show strain. The report also covers crypto-asset regulation, public guarantees for banks, and compulsory insurance for natural disasters.
ResearchEconomic data and developmentsFinancial stability and systemic risk
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2025-04-29•Italy•Bank of Italy
The Bank of Italy, in collaboration with the Central Bank of Ireland, will host the ninth annual European System of Central Banks Research Cluster 2 workshop in Dublin on 23-24 October 2025. The event will cover topics such as international macroeconomics and fiscal policy, featuring keynote speakers Swati Dhingra and Gianmaria Milesi Ferretti. Attendance is restricted to researchers from the ESCB and the Bank of England.
ResearchOther
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2025-04-29•North Macedonia•National Bank of the Republic of North Macedonia
The National Bank of the Republic of North Macedonia outlined its strategic approach to green finance, emphasizing its first Strategy for integrating climate factors into financial stability and central banking policies. Key measures include regulatory requirements for disclosing data on green loans and banks’ climate risk exposures, and the publication of a Green Finance Review. The bank also participates in the Network for Greening the Financial System, contributing to a guide on climate-related risk disclosures.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-04-29•Italy•Bank of Italy
The Bank of Italy's Financial Stability Report No. 1-2025 highlights that new US tariffs in early April caused global market turbulence and weaker growth expectations, impacting financial stability. Italian markets saw increased volatility and declines in equity and corporate bond prices, though government bond spreads improved. The report notes stable banking conditions, limited household risks, and potential profitability declines in trade-exposed sectors, while emphasizing the need to monitor cyber and operational risks.
ResearchFinancial stability and systemic risk
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2025-04-29•China•Central Bank of the Republic of China
The People's Bank of China held a meeting to implement a comprehensive statistical system for financial data reporting and supervision, emphasizing its role in assessing finance's impact on the real economy. The "1+N" system includes a central statistical regime and subfield frameworks, with institutions preparing for data submissions. Priorities include enhancing internal coordination, data quality controls, and local branches inspecting institutions.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-29•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported March bond issuance at CNY 87,356.6 billion and an end-March bond custody balance of CNY 183.1 trillion, with foreign institutions holding CNY 4.4 trillion. Interbank funding rates decreased to 1.85% for lending and 1.87% for pledged repos. Interbank cash bond trading reached CNY 36.5 trillion, while exchange trading was CNY 3.6 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-29•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority's review of alternative investment fund managers and investment management companies revealed deficiencies in marketing practices, including misleading information and inadequate risk disclosure. The findings, benchmarked against EU regulations, were detailed in inspection reports for Difko Forvaltning A/S, European Maritime Finance A/S, Fundmarket A/S, and Wealth Fund Partners A/S. The authority updated its thematic report to include these observations and requirements.
SupervisionReviews, inspections & stress testsSales and distribution
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2025-04-29•Lithuania•Bank of Lithuania
The Bank of Lithuania released March 2025 MFI balance sheet and interest rate statistics, showing increases in deposits and credit to households and non-financial corporations, alongside declines in interest rates on new loans and deposits. Deposits rose by EUR 422.0 million, with household and corporate deposits reaching EUR 25.6 billion and EUR 10.9 billion. Loans increased by EUR 372.8 million, with interest rates on new household and corporate loans falling to 5.24% and 4.98%.
Data & statisticsFinancial and market indicatorsMonetary data
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2025-04-29•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance plans to mandate IRIS instant payments for all merchants by 1 November 2025, enabling fee-free real-time payments from bank accounts. The ministry reported significant growth in IRIS usage, with over 3.7 million P2P users and 27 million transactions in early 2025, highlighting benefits like lower charges and immediate fund receipt for businesses. Coordination with banks and acquirers is planned for the rollout.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-29•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
The Botswana Non-Bank Financial Institutions Regulatory Authority has temporarily closed Fima Enterprises (Pty) Ltd and frozen its bank accounts for non-compliance with financial services laws. Under Section 94(1) of the Non-Bank Financial Institutions Regulatory Authority Act, Fima must stop taking new clients and issuing loans but will continue servicing existing clients. Clients must still fulfill their obligations under existing loan agreements.
EnforcementInvestigations & enforcement actionsLendingPrudential risks
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2025-04-29•Portugal•Bank of Portugal
The Bank of Portugal's March 2025 statistics show accelerated growth in household credit, particularly mortgages, and a rise in corporate lending, while household deposit growth decelerated. Household loan stocks increased by 5.8% year on year, with mortgages up 5.4% and consumer loans up 7.1%. Corporate loans reached EUR 72.7 billion, marking a 1.4% annual increase, while household deposits grew 5.9% year on year despite a monthly decline.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-29•Australia•Australian Transaction Reports and Analysis Centre (AUSTRAC)
AUSTRAC has launched a compliance campaign targeting inactive digital currency exchanges (DCEs), urging them to withdraw registrations or face cancellation to prevent criminal misuse. AUSTRAC oversees 427 DCEs and can cancel inactive registrations, with decisions published online. A searchable DCE register will follow.
SupervisionInterventionsLicensing and supervisory fees
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2025-04-29•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Process Review Panel for the Insurance Authority published its 2024 Annual Report, reviewing the Insurance Authority's internal procedures across 20 cases from 2023. The report highlights the IA's handling of complaint processing, insurer authorisation, and intermediary licensing, noting cooperation and proactive responses to prior recommendations.
Institutional developmentCooperation & capacity buildingSupervision process and methodologies
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2025-04-29•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau acknowledged the 2024 Annual Report of the Process Review Panel for the Insurance Authority, which assessed the adequacy of the Insurance Authority’s procedures and guidelines. The review focused on regulatory functions like complaint handling, insurer authorisation, and disciplinary actions. The Bureau emphasized the panel's role in promoting fair and consistent use of the Insurance Authority’s powers.
Institutional developmentCooperation & capacity buildingSupervision process and methodologies
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2025-04-29•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency reported a 0.1% increase in U.S. house prices for February, with a 3.9% rise from February 2024 to February 2025. January's monthly increase was revised from 0.2% to 0.3%. Price changes varied across census divisions, with the Pacific division experiencing a -0.8% change and the New England division a +1.3% change.
Data & statistics
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2025-04-29•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) released its March 2025 monthly benchmarks on order reception and directed users to its Institutional and Investor Portals for email notification subscriptions.
Data & statisticsOther
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2025-04-29•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, with Kazakhstan-British Technical University and First Credit Bureau LLC, hosted the "Risk Management Case Competition 2025" on machine-learning anti-fraud models. It attracted 81 teams from 21 universities in Kazakhstan, Uzbekistan, England, and Australia, focusing on data analysis and model accuracy. Blue Ocean from Maqsut Narikbayev University won first place, receiving grants for the FRM Part I exam and placements at second-tier banks.
Financial literacy & educationRisk management