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2025-04-17•Bulgaria•Ministry of Finance (Bulgaria)
The Ministry of Finance (Bulgaria) outlined the conversion process for deposits and cash upon the euro's introduction, with banks converting deposits automatically and free cash exchanges available at Bulgarian Posts. Larger cash conversions must comply with anti-money laundering laws. An action plan is being developed to protect citizens and monitor irregularities during the transition.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-04-17•Estonia•Finantsinspektsioon
Estonia's Financial Supervision Authority hosted a roundtable to enhance cooperation on financial innovation, focusing on refreshing its Innovation Hub and reducing regulatory burdens by 10% in 2025. Plans include a new licensing portal to improve transparency and digitalisation, operational by autumn, and a simplified regulatory sandbox. Board member Siim Tammer emphasized reviewing the framework to reduce regulatory load without compromising consumer protection.
Policy & regulationImplementation, projects & pilotsFintech and insurtechRegulatory burden
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2025-04-17•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) issued an alert regarding counterfeit surety bond policies falsely attributed to Chaucer Insurance Company DAC, which the insurer has disowned. The Central Bank of Ireland confirmed that Chaucer does not issue such policies in Italy. IVASS advises consumers to verify the legitimacy of insurers and intermediaries through its online registers and warning lists before making payments.
SupervisionAlertsFraud and scams
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2025-04-17•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority announced that Kevin Young, a former treasury accountant at Heartland Bank Limited, has been sentenced to six months home detention and fined NZD 11,241 for insider trading related to Heartland Group Holdings Limited. Young pleaded guilty to three charges, including trading on material, non-public information and disclosing such information to a former colleague.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-04-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) announced that the Financial Innovation Laboratory (LAB), which it co-founded, was recognized by Global Finance Magazine as a leading financial innovation laboratory for the fourth consecutive year. Established in 2017, the LAB focuses on innovative solutions for financial and socio-environmental sustainability challenges in Brazil. It is part of the Financial Centres for Sustainability network, with CVM representing it in the steering group.
OtherClimate risk and sustainable finance
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2025-04-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has extended its survey on adopting CBPS 01 (IFRS S1) and CBPS 02 (IFRS S2) in capital markets until 25 April 2025. Coordinated by CVM’s Superintendence of Investor Guidance and Sustainable Finance, the initiative includes online questionnaires for listed companies, auditors, sustainability consultancies, and investors. The survey aims to assess benefits, challenges, and implementation needs to support CVM's monitoring and transition efforts.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
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2025-04-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Resolution CVM 228, updating its internal bylaws to enhance efficiency and clarity. Key changes include establishing a Data Governance Office within the Planning and Innovation Superintendency to implement the CVM’s Data Governance Policy. The resolution also involves organizational adjustments in various superintendencies, including restructuring the Market and Intermediaries Relations Superintendency.
Institutional developmentMandate & organizational structureOrganizational structure
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2025-04-17•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore's Cyber and Technology Resilience Experts Panel recommended enhancing operational resilience in the financial sector by prioritizing end-to-end digital service continuity and managing IT supply chain risks. The panel emphasized the need for financial institutions to inventory cryptographic solutions to address quantum security threats and advocated a multi-layered approach to counter digital financial scams.
Policy & regulationGuidance & interpretationCyber resilienceOperational risk and resilience
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2025-04-17•Serbia•National Bank of Serbia
The National Bank of Serbia announced that electronic money institution Led Pay d.o.o. Belgrade has joined the Instant Payment System (IPS NBS System) as an indirect participant, enabling its clients to execute transactions. Instant payments for Led Pay clients will be facilitated via OTP banka Srbija, a direct participant in the system. The system operates continuously, allowing funds to be received within seconds at any time.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-04-17•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) alerts the public about a person impersonating Nurlan Asilbekov, promoting financial services on Telegram with a fake AFSA licence. The licence, falsely issued to Bybit Limited, improperly includes the individual's name. AFSA advises verifying authorisations via its Public Register and warns that transactions with unauthorised individuals may lack protection under the Astana International Financial Centre's legal framework.
SupervisionAlertsLicence approval
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2025-04-17•Oman•Oman Financial Services Authority
The Oman Financial Services Authority revoked the licence of Trust Fund Management Company for failing to meet regulatory reporting obligations, including audited financial statements for 2023 and 2024 and capital-adequacy reports. The firm, previously suspended, violated Articles 168 and 168(b) of the Executive Regulation of the Capital Market Law.
SupervisionAuthorisations & approvalsAccounting and financial reportingCorporate governance
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2025-04-17•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan now accepts electronic applications via the myGov platform, enhancing digital access for citizens. This addition to myGov allows users to select the Central Bank for online submissions, while existing channels like the official website and hotline remain available.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-17•Canada•Ontario Securities Commission
The Ontario Securities Commission's Capital Markets Tribunal approved a settlement with Blockratize Inc. and Adventure One QSS Inc. for violating Ontario's ban on short-term binary options. The firms, which offered these options through Polymarket, face two-year market bans and financial penalties totaling over 200,000 CAD. The settlement details are available on the Capital Markets Tribunal’s website.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-17•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario fined Ismail Ayyoub CAD 30,000 for breaching mortgage suitability and disclosure obligations. Ayyoub failed to ensure the suitability of five mortgages and did not disclose material risks and conflicts of interest, violating Ontario Regulations 187/08 and 188/08. He did not contest FSRA's proposal or request a hearing before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-04-17•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario reported a Q4 2024 median solvency ratio of 122% for Ontario defined benefit pension plans, marking the highest since 2009. The increase is attributed to strong market gains and steady interest rates. FSRA advises plans to enhance risk management and reassess investment strategies using stress tests and analytical tools.
Data & statistics
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2025-04-17•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario's latest pension update shows a median solvency ratio of 122% for defined benefit plans in Q4 2024, the highest since 2009. It calls for Stakeholder Advisory Committee applications and reminds plan administrators of submission requirements via the Pension Services Portal. Upcoming publications include the Q1 2025 Solvency Report and the Pension Benefits Guarantee Fund annual report.
SupervisionRisk monitoring & watch pointsPrudential risksSupervision process and methodologies
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2025-04-17•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency (Hanfa) warned about fraudulent phone solicitations for trading financial instruments and cryptocurrencies online. Hanfa advises verifying firm authorization through its registers and avoiding unlisted entities, especially those claiming registration in Seychelles, Vanuatu, or Saint Vincent and the Grenadines. Consumers should report suspicious activities to the police and Hanfa, even with authorized firms.
SupervisionAlertsFraud and scams
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2025-04-17•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission reported on its "Lifelong Investing: Investology for the 50+" initiative, aimed at educating those nearing retirement on managing savings and fraud protection. The project included multimedia content and workshops, reaching over 2.4 million views and engaging over 100 participants. The SEC plans to enhance educational offerings in 2025 with more practical content for seniors.
Financial literacy & educationFinancial literacy and education
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2025-04-17•United Kingdom•Bank of England
The Bank of England's Prudential Regulation Authority (PRA) has withdrawn a modification allowing certain third-country covered bonds to be included in Level 2A high-quality liquid assets under the Liquidity Coverage Ratio rules. This decision follows technical comments and requests for clarification, with firms advised to maintain current recognition practices for these bonds in the interim.
Policy & regulationRules & requirementsLiquidity risk
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2025-04-17•Global•ISDA
The International Swaps and Derivatives Association (ISDA) urges US policymakers to address four regulatory reforms for effective mandatory clearing of US Treasury securities before 2026 and 2027 compliance dates. Priorities include modifying the supplementary leverage ratio, extending margin offsets, addressing the US Basel III endgame proposal, and ensuring operational readiness with adequate preparation time.
Policy & regulationReform agendas & prioritiesCCPsPrudential risks
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2025-04-17•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's January 2025 Economic Report highlights a rebased inflation rate of 24.48%, fiscal deficit expansion due to weaker revenues, and a contraction in broad money supply and banking credit. It notes improved external indicators, including a stronger trade surplus and naira appreciation, alongside a rise in crude oil production exceeding OPEC quotas. It projects continued growth in 2025, with moderated inflation pressures, but warns of risks such as insecurity, exchange rate depreciation, and rising costs.
ResearchEconomic data and developments
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2025-04-17•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria will initiate mystery shopping exercises for licensed bureaux de change (BDCs) to enhance efforts against money laundering, terrorism financing, and other illicit activities. This initiative will assess BDCs' compliance with AML/CFT/CPF obligations, including customer identification and suspicious transaction reporting. Non-compliance may result in sanctions, including monetary penalties or licence revocation.
SupervisionReviews, inspections & stress testsAML and CFT
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2025-04-17•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria reminded financial institutions to comply with sanctions regimes, warning of enforcement actions for non-compliance. Institutions must maintain a dynamic compliance framework covering various sanctions lists, including the United Nations and Nigerian Sanctions Lists, and ensure real-time screening and reporting. Regular reviews of programme effectiveness are required to align with legal and regulatory expectations.
Policy & regulationGuidance & interpretationSanctions list update
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2025-04-17•Canada•Quebec Autorite des marches financiers
The Canadian Securities Administrators (CSA) have issued blanket orders to ease prospectus and disclosure requirements for IPOs and other transactions, expanding capital-raising options. Key measures include relief from providing audited financial statements for the third most recent financial year and a prospectus exemption for issuers going public through an underwritten IPO. Additionally, certain provinces have increased the investment limit under the offering memorandum exemption for eligible investors.
Policy & regulationRules & requirementsRegulatory burdenMarket development
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2025-04-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam’s Banking Times hosted a discussion on international financial centre models, featuring economist Richard D. McClellan's insights on reform priorities for developing Ho Chi Minh City and Da Nang as financial hubs. McClellan emphasized flexible capital movement, foreign currency access, and a transparent legal framework, advocating a "hybrid" approach tailored to Vietnam. He highlighted the central bank's role in enhancing capital-flow mechanisms, compliance with international standards, and developing digital finance frameworks.
Policy & regulationReform agendas & prioritiesMarket development
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2025-04-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam announced the extension of the Mobile-Money pilot programme, allowing telecommunications accounts to pay for low-value goods and services through 2025. This extension is detailed in Government Resolution 87/NQ-CP, effective 15 April 2025. The State Bank will collaborate with various ministries to develop a decree regulating Mobile-Money services.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's 2025 plan aims to prevent corruption, misconduct, and crime in banking by enhancing discipline and integrity. Key measures include refining the legal framework, streamlining the bank's structure, and strengthening anti-corruption controls in non-state credit institutions. The plan also emphasizes combating technology-enabled fraud, expanding oversight, and maintaining international cooperation.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-04-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam discussed regulatory trade-offs in establishing an international financial centre (IFC) and plans to align bank supervision with international standards, including revising capital adequacy ratios under Advanced Basel II. The need for a legal framework balancing IFC operations with macroeconomic stability and financial safety was highlighted, noting constraints from Vietnam's legal framework on capital transactions. Feedback from the event will be compiled into a report for the central bank's leadership to inform IFC policymaking.
Policy & regulationRules & requirementsOther
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2025-04-17•Vietnam•State Bank of Vietnam
The State Bank of Vietnam reported on General Secretary Tô Lâm’s keynote at the 2025 P4G Vietnam Summit, emphasizing Vietnam's strategy for rapid growth through a green, inclusive, and sustainable transition. The address highlighted "green institutions," "green technology," and "green human resources" as pivotal, while acknowledging challenges in finance, technology, and climate resilience. It called for enhanced international and public-private cooperation, particularly in green finance.
Policy & regulationReform agendas & prioritiesOther
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2025-04-17•Russia•Central Bank of Russia
The Central Bank of Russia reported that over 8.1 million individuals utilized the new self-ban on loans and microloans in its first month, with nearly 92% opting for a complete ban. Among users, 44% had no active loan agreements, and less than 1% had only outstanding microloans. Moscow and the Moscow Region accounted for over 19% of users.
Data & statisticsConsumer and investor protection
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2025-04-17•Russia•Central Bank of Russia
The Central Bank of Russia identified six credit institutions, including two systemically important banks, involved in mis-selling loans through remote channels without clear disclosure of agreement types. This practice led consumers to misunderstand whether they were signing a bank loan or a microloan with a subsidiary microfinance organization. The regulator has demanded these banks amend their information disclosure practices.
SupervisionInterventionsLendingConsumer and investor protection
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2025-04-17•Russia•Central Bank of Russia
The Central Bank of Russia's quarterly balance of payments commentary for Q1 2025 shows a decline in both exports and imports, resulting in a reduced current account surplus. Export reductions were driven by lower global oil and coal prices, decreased oil production, and the end of gas transit to Europe. Imports fell due to an increased recycling fee and higher interest rates, though less sharply than exports.
Data & statisticsBalance of payments and other external statistics
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2025-04-17•Canada•Payments Canada
Payments Canada released results from its consultation on amendments to the Canadian Payments Act aimed at expanding membership eligibility. Feedback supported requiring payment service providers to show registration, maintaining non-member eligibility for the Stakeholder Advisory Council, and avoiding entity-based restrictions for new members. The consultation also addressed redefining affiliation in Automated Clearing Settlement System requirements and increasing penalties for violations.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-17•Sri Lanka•Central Bank of Sri Lanka
The Central Bank of Sri Lanka has designated Domestic Systemically Important Banks (D-SIBs) and assigned them to systemic importance buckets, effective 17 April 2025. The methodology, based on Basel Committee guidelines, uses an indicator-driven score across size, interconnectedness, substitutability, and complexity. An addendum to corporate governance directions mandates certain directors abstain from appointing independent directors if voting shares were acquired in violation of regulations.
Policy & regulationRules & requirementsMacroprudential policy and tools
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2025-04-17•Poland•Polish Financial Supervision Commission (KNF)
The Polish Financial Supervision Commission (KNF) has prohibited Insurance JSC DallBogg: Life and Health from conducting Class 10 non-life insurance business in Poland, specifically motor third-party liability insurance, due to organizational inadequacies. Existing contracts remain valid, but new contracts post-17 April 2025 will breach the prohibition. DallBogg can request a review or appeal the decision.
EnforcementInvestigations & enforcement actionsOther
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2025-04-17•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) have amended National Instrument 81-102 Investment Funds to clarify regulations for Public Crypto Asset Funds. The amendments specify criteria for permissible crypto assets, impose restrictions on crypto asset investments, and outline custody requirements for assets held by these funds.
Policy & regulationRules & requirementsFintech and insurtechRegulatory reporting
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2025-04-17•Canada•Canadian Securities Administrators
The Canadian Securities Administrators (CSA) issued blanket orders to reduce regulatory friction for Canadian public listings and enhance capital-raising flexibility. Measures include easing prospectus and disclosure requirements, introducing a prospectus exemption for post-IPO financings, and adjusting offering memorandum exemption limits in select provinces. These initiatives aim to support Canadian capital markets, with further actions under consideration.
Policy & regulationRules & requirementsRegulatory burden
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2025-04-17•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board (CPAB) published an enforcement report on PKF Antares Professional Corporation, noting no significant findings in its 2024 inspection and lifting several prior restrictions. CPAB removed prohibitions on accepting new medium-risk audit clients and terminated certain remediation measures but maintained restrictions on high-risk engagements and ongoing external reviews. Remaining enforcement actions will persist until PKF Antares shows sustained audit quality improvement or applies for termination under CPAB Rule 605.
EnforcementInvestigations & enforcement actionsAuditing
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2025-04-17•United States•Federal Reserve Board
The Federal Reserve Board proposed changes to reduce volatility in large banks' capital requirements by averaging stress test results over two years and shifting the stress capital buffer's effective date to 1 January. The proposal aims to streamline data collection without materially altering capital requirements. Additional measures to enhance stress test transparency are expected later this year.
Policy & regulationRules & requirementsStress testing
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2025-04-17•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission released a staff advisory detailing criteria for assessing materiality in self-reported violations and compliance issues for potential referral to the Division of Enforcement. The advisory, issued by multiple divisions, supports the implementation of the Division of Enforcement’s updated policy on self-reporting, cooperation, and remediation.
Policy & regulationGuidance & interpretationComplianceSupervision process and methodologies
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2025-04-17•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee will meet on 6 May 2025 to discuss Regulation A's market considerations and regulatory challenges. The agenda includes an SEC staff overview of Regulation A's use in capital raising, committee discussions on its advantages and limitations, and investor exit opportunities. Daniel Forman of Lowenstein Sandler LLP will present at the meeting, which will be webcast on SEC.gov.
Policy & regulationReform agendas & priorities
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2025-04-17•Thailand•Bank of Thailand
The Bank of Thailand's preliminary assessment suggests U.S. trade policies and global responses may pressure Thailand's economy, causing financial-market volatility and weaker production, trade, and investment. The central bank highlights potential export impacts, especially to the U.S., and emphasizes monitoring financial conditions and investment sentiment. It plans to maintain market stability and implement measures to address import competition, transshipment risks, and diversify export markets.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-04-17•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency issued April 2025 enforcement actions, including three prohibition orders against individuals affiliated with OCC-supervised banks. Alhassan Abubakar, Jacqueline Molina, and Nick Zatikian are barred from participating in bank affairs due to misappropriation, fraudulent PPP fund acquisition, and embezzlement, respectively.
EnforcementInvestigations & enforcement actions
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2025-04-17•Global•SWIFT
SWIFT has introduced an enhanced Case Management service to automate investigations into delayed cross-border payments, potentially reducing operational and liquidity costs by over USD 600 million annually and resolution times by up to 80%. The service, leveraging ISO 20022 data and unique end-to-end transaction reference, is now available to the global SWIFT community after trials with over 30 financial institutions.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-17•Moldova•National Bank of Moldova
The National Bank of Moldova's research highlights the segmented SME lending market in Moldova, with banks and non-bank lenders serving distinct SME profiles. Key findings include high rejection rates, reliance on financial documentation and collateral, and significant credit constraints for small firms. The study suggests policy differentiation, collateral registry modernization, and regulatory adaptation to enhance SME access to finance.
ResearchSME financing
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2025-04-17•Australia•Australian Competition and Consumer Commission
The ACCC has issued a draft determination proposing conditional authorisation for the Australian Sustainable Finance Institute and industry participants to collaborate on sustainable finance initiatives for five years, with conditions to enhance oversight and transparency. Submissions on the draft are due by 2 May 2025, and interim authorisation for discussions on banking capital requirement reforms remains effective until the final determination.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-04-17•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan released its monthly overview of renminbi (RMB) business conducted by banks, detailing activities across domestic and offshore banking units. As of March 31, 2025, RMB deposits totaled RMB 110.98 billion, with RMB discounts and loans at RMB 18.48 billion. February remittances increased to RMB 182.22 billion, and the Taipei Branch of the Bank of China processed RMB 471 billion in settlements in March.
Data & statisticsFinancial and market indicators
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2025-04-17•Taiwan•Taiwan Financial Services Commission
Taiwan's Financial Supervisory Commission reported an increase in domestic banks' lending to SMEs, with outstanding loans reaching TWD 10,369 billion at the end of February 2025. SME loans comprised 64.19% of total enterprise loans and 67.96% of private enterprise loans, both up by 0.1 percentage points from January. The average non-performing loan ratio decreased to 0.23%, as the Commission continues to encourage banks to expand SME lending with risk controls.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-17•United States•U.S. Department of the Treasury
The U.S. Treasury’s Office of Foreign Assets Control has designated the International Bank of Yemen and three senior officials under Executive Order 13224 for supporting the Houthis. This action blocks their property and interests in the U.S. and prohibits U.S.-nexus transactions involving them. OFAC highlighted the bank's role in sanctions evasion and warned of potential secondary sanctions for transactions with the designated individuals.
EnforcementSanctions & designationsNew sanctions designations
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2025-04-17•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago's research paper finds that climate variables significantly impact inflation dynamics, enhancing inflation forecasting accuracy. Using data from 1991 to 2022, the study shows that temperature, precipitation, and natural disasters affect inflation and output. A scenario analysis projects significant climate-related events and inflation increases in Trinidad and Tobago from 2023 to 2025.
ResearchClimate risk and sustainable finance
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2025-04-17•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago released a paper analyzing digital money's impact, including CBDCs, on the domestic monetary system. It identifies retail CBDCs as most disruptive, with benefits for interest-rate transmission but risks to financial stability. The paper highlights risks of currency substitution and capital outflows from stablecoins and non-CBDC cryptocurrencies, recommending enhanced cybersecurity, further CBDC research, and international policy coordination.
ResearchCBDC
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2025-04-17•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad and Tobago released a paper on using "climate-conditioned" catastrophe models to assess insurers' exposure to acute physical climate risks. It critiques traditional models for understating future loss severity and suggests incorporating climate scenarios for better risk management. It highlights data limitations and calls for enhanced collaboration to address domestic data gaps and improve climate risk modelling.
ResearchClimate risk and sustainable finance
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2025-04-16•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission issued decisions across capital markets, asset management, and insurance, including approving TK-Hold AD’s IPO prospectus and a draft ordinance for insurer management systems. The FSC authorized a new mutual fund, expanded an insurer’s license to cover guarantees business, and made board and executive appointments. Additional actions involved amendments to articles of association, agent registrations, and requests for more information from Elana Fund Management AD.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-16•Mexico•Mexico Comision Nacional Bancaria y de Valores (CNBV)
Mexico's National Banking and Securities Commission (CNBV) approved the annual evaluation of local systemic importance for multiple banking institutions, designating those deemed systemically important. These institutions must adhere to additional capital conservation buffers beyond the 10.5% minimum capitalisation requirement and the Total Loss Absorbing Capacity (TLAC) capital supplement.
Policy & regulationImplementation, projects & pilotsFinancial stability and systemic risk
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2025-04-16•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic reported on Governor Héctor Valdez Albizu’s meeting with the National Council of Private Enterprise, highlighting easing domestic interest rates and macroprudential measures. Average lending rates decreased significantly, supported by DOP 200 billion in central bank bill redemptions and DOP 35.355 billion in reserve requirement releases. The Monetary Board's package aims to strengthen financial intermediaries' positions, limiting foreign-currency lending to non-earners and mandating fair value presentation in financial statements from January 2026.
Monetary policyMonetary policy instruments & operationsEconomic data and developmentsFinancial stability and systemic risk
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2025-04-16•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved the public offer by Saudi Economic and Development Securities Company for the SEDCO Capital US Equities Feeder Fund. The authority emphasized that investors should thoroughly review the fund's terms and conditions, which detail its investment strategy and risk factors, and clarified that its approval is not a subscription recommendation but a confirmation of compliance with legal requirements.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-04-16•British Virgin Islands•Ministry of Finance (British Virgin Islands)
The British Virgin Islands Ministry of Finance released its first National Risk Assessment of Legal Persons and Arrangements, as required by revised FATF Recommendations 24 and 25. It identifies a "Medium High" residual risk of money laundering misuse, particularly in BVI Business Companies, trusts, and limited partnerships, due to global financial services and complex cross-border structures. The findings will guide future policy reforms, enforcement priorities, and international cooperation efforts.
ResearchAML and CFT
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2025-04-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) issued Information Sheet 293 on obtaining written authorisation as eligible applicants under the Corporations Act 2001. This allows court applications for public examinations of companies in external administration. The guidance covers eligibility, application procedures, documentation, submission details, fees, and notification processes, applicable under sections 596A, 596B, and 597 of the Act.
Policy & regulationGuidance & interpretationLicensing framework and process
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2025-04-16•Greece•Bank of Greece
The Bank of Greece's Q2 2025 assessment maintains the countercyclical capital buffer (CCyB) rate at 0.25%, effective from 1 October 2025, citing low cyclical systemic risks. Despite some emerging risks in credit growth and real estate, the overall credit growth is not deemed excessive. The CCyB framework is designed to activate early in the cycle when risks are standard.
Policy & regulationRules & requirementsFinancial stability and systemic riskMacroprudential policy and tools
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2025-04-16•Greece•Bank of Greece
Bank of Greece reports a central government cash surplus of EUR 1,465 million for January to March 2025, contrasting with a EUR 359 million deficit in the same period of 2024. This shift is attributed to an increase in ordinary budget revenue to EUR 16,852 million, while expenditure rose to EUR 15,478 million.
Data & statisticsFinancial and market indicators
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2025-04-16•United States•Federal Reserve Board
The Federal Reserve Board's research found limited evidence that the global systemically important bank (GSIB) surcharge requirement led banks to reduce systemic risk. International banks near surcharge thresholds showed slower growth in intra-financial system liabilities and certain securities holdings. US GSIBs under method 2 also exhibited slower growth in trading securities and short-term wholesale funding.
ResearchFinancial stability and systemic risk
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2025-04-16•New Zealand•Reserve Bank of New Zealand
New Zealand’s Minister of Finance has published the Reserve Bank of New Zealand’s Five Year Funding Agreement, setting core operating expenditure at NZD 750 million for 1 July 2025 to 31 June 2030, with some spending excluded. RBNZ’s Board Chair, Neil Quigley, stated the Bank will use the funding to redesign operations and optimize resources while fulfilling its mandate.
Institutional developmentGovernanceMandate change
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2025-04-16•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority reached a settlement with B4SURE, mandating a EUR 10,000 payment and the publication of the firm's name on the FSMA website.
EnforcementInvestigations & enforcement actionsOther
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2025-04-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) will launch a new digital portal for Australian financial services (AFS) licensing on 5 May 2025, allowing firms to apply for, vary, and cancel AFS licenses through a redesigned system. The portal aims to streamline the process by pre-filling known information and tailoring questions, with updated Regulatory Guides 1–3 reflecting its design and functionality. Current licensing processes remain unchanged until the launch.
Policy & regulationImplementation, projects & pilotsLicensing framework and process
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2025-04-16•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) reported a Federal Court ruling against Green County Pty Ltd and Max Funding Pty Ltd for unlicensed credit activity and breaching consumer protection provisions in the Credit Code. The firms failed to verify loan purposes, improperly relying on a "Business Purpose Declaration," misclassifying consumer loans as business loans, depriving consumers of protections. ASIC's case against Green County director Ivy Tang Gy Ng was dismissed, and the Court will decide on further actions.
EnforcementInvestigations & enforcement actionsLendingUnlicensed or unauthorized activity
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2025-04-16•Kenya•Central Bank of Kenya
The Central Bank of Kenya will lift the moratorium on licensing new commercial banks from 1 July 2025, ending a pause since November 2015. New banks must meet an enhanced minimum core capital requirement of KES 10 billion. The decision follows improvements in governance, risk management, and sector consolidation, supported by the Business Laws (Amendment) Act, 2024.
Policy & regulationRules & requirementsLicence approval
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2025-04-16•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE appointed Faiza Al Awadhi as CEO and Managing Director of Sanadak, the Ombudsman Unit, marking a first in the Middle East and North Africa. Al Awadhi brings over 25 years of experience in public and private sectors, having led the Market Conduct and Financial Consumer Protection Department. This appointment supports Sanadak’s mission in resolving banking and insurance disputes and aligns with the Central Bank's consumer protection and financial inclusion strategy.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-16•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
The Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL) conducted a face-to-face meeting in Strasbourg with Latvian authorities as part of its sixth round of mutual evaluations. Latvia is the first country to be assessed under this new evaluation round. The meeting was the final opportunity to discuss the draft Mutual Evaluation Report before MONEYVAL’s 69th plenary meeting in June 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-04-16•Peru•Central Bank of Peru
The Central Bank of Peru reported a 4.8% year-on-year increase in total formal employment in February, adding 270,000 jobs compared to February 2024. Private sector formal employment rose 6.5%, with significant job additions in agriculture, services, and commerce.
Data & statisticsEconomic data and developments
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2025-04-16•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) and the Moroccan Insurance Federation (FMA) have signed a charter to integrate gender considerations into insurance product development and marketing. The initiative aims to improve women's access to tailored insurance coverage by utilizing gender-disaggregated data and conducting awareness campaigns. A monitoring committee will oversee progress and recommend actions to ensure products meet women's needs.
Policy & regulationCooperationDiversity and inclusion
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2025-04-16•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) participated in the 11th Rendez-vous de Casablanca de l'Assurance, where its Secretary General emphasized the impact of artificial intelligence on insurance. ACAPS outlined its strategy for supporting digital transformation through regulatory adaptation, innovation promotion, and supervisory measures focused on ethics, transparency, and data protection.
Policy & regulationReform agendas & prioritiesArtificial intelligence
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2025-04-16•Ecuador•Superintendencia de Bancos de Ecuador
Ecuador's Superintendency of Banks has mandated the forced liquidation of Banco Amibank S.A., triggering deposit insurance payments up to USD 32,000 for depositors. COSEDE's General Management appointed Cooperativa de Ahorro y Crédito JEP and Cooperativa de Ahorro y Crédito 29 de Octubre as paying agents, with specific provinces assigned to each. Payments will follow a schedule based on the depositor's national ID number, with documentation requirements for different depositor categories.
SupervisionInterventionsRecovery and resolution
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2025-04-16•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) reported on a Karachi meeting discussing Motor Third-Party Liability (MTPL) insurance implementation in Sindh. SECP’s Commissioner Insurance stressed comprehensive and transparent implementation with licensed insurers to enhance road user protection and responsible driving. Sindh’s Minister for Excise, Taxation, and Narcotics Control pledged government support, with SECP and the Excise Department facilitating the MTPL rollout.
Policy & regulationCooperationOther
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2025-04-16•Georgia•National Bank of Georgia
The National Bank of Georgia announced amendments to the Law on Microfinance Organizations, increasing the microcredit limit to GEL 200,000 from GEL 100,000. The amendments also empower the central bank to establish additional microcredit requirements to mitigate sector risks. These changes aim to enhance access to finance for small and medium-sized enterprises.
Policy & regulationRules & requirementsSME financing
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2025-04-16•Georgia•National Bank of Georgia
National Bank of Georgia Governor Natia Turnava met with Tamás Vojnits, an EBRD Board Director, to discuss ongoing cooperation and the EBRD's support for Georgia's financial sector. The meeting emphasized the EBRD's role in developing Georgia's financial and capital markets and strengthening its central bank.
Policy & regulationCooperationCross-border cooperation
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2025-04-16•Italy•Bank of Italy
The Bank of Italy released an updated compilation of national and European banking and financial customer protection rules. This includes rights and obligations in payment services and a framework for out-of-court dispute resolution, organized by topic for stakeholder usability.
Policy & regulationGuidance & interpretationConsumer and investor protection
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2025-04-16•Italy•Bank of Italy
The Bank of Italy released Quaderni di Storia Economica No. 54, analyzing the impact of Napoleonic administrative reforms on urban development in the Italian Mezzogiorno. The study found that cities designated as district capitals experienced higher population growth and industrialization compared to non-capital cities, attributed to enhanced public goods provision and transport network accessibility.
ResearchOther
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2025-04-16•China•Central Bank of the Republic of China
People's Bank of China Governor Pan Gongsheng and Goldman Sachs Group President John Waldron discussed the global economic and financial situation and China's macroeconomic policies.
Monetary policyOtherCross-border cooperation
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2025-04-16•Italy•Bank of Italy
The Bank of Italy's Economic History Working Papers No. 54 analyzes the impact of the 1806 Napoleonic administrative reforms in the Kingdom of Naples on city-level development. The study finds that cities designated as district capitals experienced greater population growth and industrialization from 1828 to 1911 compared to non-capital cities, due to enhanced public goods provision and improved transport networks.
ResearchOther
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2025-04-16•Europe•European Banking Authority
The European Banking Authority released an updated list of indicators for risk assessment and analysis, along with a methodological guide for their calculation, based on the EBA reporting framework version 4.0. The update includes new risk indicators from the Banking Package (CRR3 and CRD6) and those related to Environmental, Social, and Governance factors. This aims to aid consistent interpretation of bank figures without increasing burdens.
Policy & regulationGuidance & interpretationRisk analysis and outlookFinancial and market indicators
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2025-04-16•Europe•European Banking Authority
The Joint Committee of the European Supervisory Authorities, including the European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority, released its 2024 Annual Report. It outlines joint work and emerging risk monitoring, highlighting priorities like sustainable finance, digital resilience, and consumer protection. Key deliverables include policy support for the Digital Operational Resilience Act and efforts related to the Sustainable Finance Disclosure Regulation.
Policy & regulationCooperationSupervision process and methodologiesFinancial stability and systemic risk
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2025-04-16•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier will require Money Market Fund reporting to be submitted through two specified methods starting 1 September 2025, with no charge. Testing of the new submission approach will be available from 1 July 2025 via the eDesk PREPROD environment.
SupervisionRegulatory reporting
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2025-04-16•North Macedonia•Ministry of Finance (North Macedonia)
North Macedonia’s Ministry of Finance said Minister Gordana Dimitrieska-Kocoska presented a five-year capacity development programme for the IMF’s planned Regional Technical Assistance Centre for South East Europe (SEETAC), which will help the six Western Balkans economies and Moldova align institutions and policies with European standards. The first phase will target fiscal space, revenue collection, public spending efficiency, monetary and financial policies, and statistical and analytical capacity, with support via advisers, experts, trainings and regional initiatives under a USD 70.4 million budget. SEETAC is expected to be operational by January 2027.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-16•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) released Consultation Paper CP25/9, proposing changes to the Consumer Composite Investments (CCI) product information regime, focusing on cost disclosures. Key proposals include removing the requirement to disclose implicit transaction costs and aligning MiFID Organisation Regulation-derived cost disclosure rules with CCI disclosures. The FCA plans to issue a single policy statement with final rules in late 2025 for simultaneous enforcement across all firms.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-04-16•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DTE–201 (Subject 52) related to COP 2,000 banknotes.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-04-16•Belize•Central Bank of Belize
The Central Bank of Belize announced two "Know Your Money" training sessions on 8 May 2025 to educate the public on recognising security features of redesigned Belizean banknotes. Sessions will be available both in-person at the Central Bank's Lecture Hall in Belize City and virtually.
Financial literacy & educationFinancial literacy and education
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2025-04-16•Slovenia•Slovenia Insurance Supervision Agency
The Slovenia Insurance Supervision Agency published an interview with Professor Matjaž Dolšek on Slovenia's earthquake exposure, highlighting vulnerabilities in homes and public infrastructure. A 2020 study estimated median direct damage at EUR 7.2 billion, with current conditions likely increasing this due to higher construction costs. The interview noted that around 20% of buildings are not earthquake-resistant, and 80% of public buildings, including hospitals and schools, are vulnerable, with many classified as long-term unacceptable from a seismic risk perspective.
SupervisionRisk monitoring & watch pointsOther
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2025-04-16•United States•Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis appointed Kevin Black and Paulette Davidson to its Ninth District Advisory Council, which advises on regional economic conditions. The council includes eight returning members and serves three-year terms.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-16•France•Bank of France
The Bank of France's Payment Terms Observatory meeting highlighted a deterioration in private-sector payment behaviour in 2024, with French companies paying suppliers an average of 13.6 days late. Initiatives to address late payments include an electronic invoicing programme starting in 2026 for large companies. The Observatory will publish an annual report detailing these findings and proposed actions soon.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-04-16•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 completed its risk-based supervision cycle, introducing bank-specific capital add-ons and stress-test buffers. The 2024 Supervisory Review and Evaluation Process (SREP) included an updated methodology, asset quality review (AQR), and stress testing, covering 11 banks representing 85% of sector assets. All banks met the core capital adequacy ratio of 15.0% against a 5.5% minimum, with add-ons and buffers ranging from 0% to 6% based on SREP and AQR outcomes.
SupervisionReviews, inspections & stress testsAsset qualitySupervision process and methodologies
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2025-04-16•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) released the monthly benchmarks for securities investment funds for March 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-16•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) announced that Zathea-Zoe Quality Services Ltd has waived its authorisation to provide administrative services, leading to the lapse of authorisation number 199/196 as of 20 December 2024. Consequently, CySEC has permanently removed the company from the register of licensed persons.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-04-16•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released an Application Paper providing guidance on applying Insurance Core Principles to manage climate-related risks in the insurance sector. This paper, replacing the 2021 version, offers practical supervisory guidance without introducing new requirements and covers various aspects including governance, risk management, valuation, and macroprudential supervision.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
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2025-04-16•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and Police issued a joint alert about phishing SMS messages falsely claiming to be from the Anti-Deception Coordination Centre (ADCC) and the HKMA. These messages aim to deceive recipients into providing bank account information or money transfers. Authorities emphasized that police will not contact individuals regarding personal financial matters or authorize law firms to recover fraud losses.
SupervisionAlertsFraud and scams
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2025-04-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced that Utmost Trustee Solutions Limited is no longer licensed following its dissolution after merging with Utmost International Trustee Solutions Limited. The dissolution took effect on 20 February 2025, and Utmost International Trustee Solutions Limited remains licensed.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-04-16•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority updated its warning about a fraudulent operation posing as "Fairbairn Private Bank" and linked websites, including fairbairnprivate.co.uk and fairbairnprivate.com. The Authority confirmed no association with legitimate Isle of Man entities and highlighted the lack of required licensing for the advertised services. Users are cautioned against potential fraud or identity theft and advised to contact local police if involved.
SupervisionAlertsFraud and scams
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2025-04-16•Global•Bank for International Settlements
The Bank for International Settlements published research on climate-related physical risks in Brazil, showing precipitation anomalies reduce municipal GDP growth via supply chain connections. Local dry spells decrease GDP growth by over 1 percentage point, while wet spells have smaller impacts. Agriculture is most sensitive, with manufacturing and services also affected. Climate change-related supply chain spillovers lowered annual municipal growth by 0.4 percentage points on average from 2012 to 2019.
ResearchClimate risk and sustainable finance
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2025-04-16•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland released President Hammack’s speech, “Fed 101: Approaching Monetary Policy with Heart, Brains, and Courage,” delivered in Columbus, Ohio.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-04-16•Middle East•Union of Arab Securities Authorities
The Union of Arab Securities Authorities announced the appointment of Emad Tifoni as Chairman of Kuwait’s Capital Markets Authority Board of Commissioners for a four-year term, with Rayyan Al-Zaid as Vice Chairman and Tareq Shihab, Hessa Al-Roumi, and Thamer Al-Nisf as members.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-16•Europe•European Central Bank
The European Central Bank reported a EUR 34 billion current account surplus for the euro area in February 2025, down from EUR 40 billion in January. Over the 12 months to February 2025, the surplus widened to EUR 411 billion, driven by higher surpluses in goods, services, and primary income. Euro area residents' net acquisitions of non-euro area portfolio investment securities totaled EUR 738 billion, while non-residents acquired EUR 800 billion in euro area securities.
Data & statisticsBalance of payments and other external statistics