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  • 2025-04-15KuwaitCentral Bank of Kuwait

    Central Bank of Kuwait launches Fraud Shield Initiative Accelerator Program to strengthen electronic financial fraud detection and prevention

    The Central Bank of Kuwait launched the Fraud Shield Initiative Accelerator Program to enhance electronic financial fraud detection, prevention, and public awareness, involving banks, payment service providers, fintech innovators, and regulatory bodies. This initiative aims to safeguard financial transactions and support regulatory compliance amid sophisticated fraud schemes.

    Policy & regulationImplementation, projects & pilotsFraud and scamsFinancial stability and systemic risk
  • 2025-04-15EuropeEuropean Central Bank

    European Central Bank survey shows slight further tightening for corporate credit and easing for mortgages as demand diverges

    The European Central Bank's April 2025 bank lending survey shows a slight net tightening of credit standards for euro area banks' loans to enterprises and consumer credit, while standards eased for housing loans. Corporate loan demand turned slightly negative, but mortgage demand rose strongly. For Q2 2025, banks anticipate further tightening of credit standards across all loan segments, with a small increase in firm loan demand and continued growth in household loan demand, particularly for housing.

    Data & statisticsLending
  • 2025-04-15EuropeEuropean Central Bank

    European Central Bank bank lending survey shows modest tightening in corporate credit standards and strong mortgage demand

    The European Central Bank's euro area bank lending survey for Q1 2025 shows a slight net tightening of credit standards for enterprise and consumer loans, while housing loans saw an easing. Demand for enterprise loans decreased slightly, mortgage demand rose strongly, and consumer credit demand increased moderately. Banks anticipate further tightening of credit standards across all segments in Q2 2025, with higher demand expected.

    Data & statisticsLending
  • 2025-04-15LiechtensteinLiechtenstein Financial Market Authority

    Liechtenstein Financial Market Authority publishes brochures on the asset management market showing 88 licensed firms managing around CHF 54.2 billion

    The Liechtenstein Financial Market Authority released two brochures highlighting Liechtenstein's status as an asset management hub and detailing market developments in the latter half of the year. As of December 31, 2024, 88 asset management companies were licensed, managing approximately CHF 54.2 billion.

    Other
  • 2025-04-15BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance to launch online registration for mutualistic property protection associations with 15 July 2025 deadline

    The Brazilian Superintendence of Private Insurance (SUSEP) will soon launch its registration system for mutualistic property protection groups on its website, with mandatory registration by 15 July 2025. This aligns with SUSEP Resolution No. 49/2025 and is a preliminary step in implementing Complementary Law No. 213/2025. SUSEP director Carlos Queiroz highlighted the need for additional regulation to fully enact the law during recent presentations and visits to relevant entities.

    Policy & regulationImplementation, projects & pilotsOther
  • 2025-04-15PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines requires NBQBs and trust entities to publish and submit 31 March 2025 statements of condition or balance sheets

    The Central Bank of the Philippines mandates non-bank financial institutions with quasi-banking functions and trust entities to publish their Statement of Condition (SOC) and, if applicable, consolidated SOC or balance sheet as of 31 March 2025. Publication must occur in a local newspaper within 20 working days, with scanned copies submitted to the Central Bank within the same timeframe.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-04-15PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines publishes updated MORB and MORNBFI consolidations incorporating 2022 issuances

    The Central Bank of the Philippines updated the Manual of Regulations for Banks and Non-Bank Financial Institutions, consolidating 2022 issuances and introducing amendments for clarity and alignment. Key changes include specifying the effective reserve week, aligning IT risk management guidelines, reclassifying a loan application form report, and updating footnotes with critical 2022 information. These updates address submission deadlines, licensing windows, and relief measures.

    Policy & regulationRules & requirementsRegulatory reporting
  • 2025-04-15PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines clarifies that bank-affiliated forex corporations’ FX sales against PHP are governed by the FX Manual

    The Central Bank of the Philippines clarified that sales of foreign exchange against Philippine pesos by Authorized Agent Bank Forex Corporations are governed by the Manual of Regulations on Foreign Exchange Transactions, not the Manual of Regulations for Non-Bank Financial Institutions. Transactions with non-AAB individuals or entities must comply with the FX Manual's requirements, including relevant documentation based on the transaction's nature.

    Policy & regulationGuidance & interpretationForeign exchange policy and markets
  • 2025-04-15PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines reports 2.6% rise in overseas Filipino personal remittances to USD 3.02 billion in February 2025

    The Central Bank of the Philippines reported a 2.6% year-on-year increase in personal remittances from Overseas Filipinos, totaling USD 3.02 billion in February 2025. Cumulative remittances for January–February 2025 reached USD 6.27 billion, up 2.7% from the previous year, with significant contributions from the U.S., Saudi Arabia, Singapore, and the UAE. Cash remittances through banks rose to USD 2.72 billion in February 2025, with the U.S. accounting for the largest share, though actual contributions may be inflated due to correspondent banking channels.

    Data & statisticsCross-border payments
  • 2025-04-15Brunei DarussalamCentral Bank of Brunei Darussalam

    Central Bank of Brunei Darussalam publishes February 2025 Business Sentiment Index showing broadly neutral conditions with slight one-month-ahead optimism

    The Central Bank of Brunei Darussalam released the Business Sentiment Index for February 2025, showing a stable headline Current Business Conditions sub-index at 50.0. The one-month-ahead index slightly increased to 50.3, with neutral responses prevailing across sectors. Notably, Wholesale and Retail Trade showed marginal optimism, while small businesses were slightly pessimistic.

    Data & statisticsEconomic data and developments
  • 2025-04-15EstoniaFinantsinspektsioon

    Estonian Financial Supervision and Resolution Authority revokes AS TBB Pank’s licence after approving voluntary winding up

    The Estonian Financial Supervision and Resolution Authority has revoked AS TBB Pank's operating licence, allowing it to voluntarily wind up and withdraw its subsidiary AS TBB Liising's creditor rights. With a minimal market share, the wind-up does not impact Estonia's financial stability. The bank is managing deposit distribution and client communication, leaving eight licensed credit institutions in Estonia.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-04-15EstoniaFinantsinspektsioon

    Estonia's Financial Supervision Authority relaunches its testing sandbox in a more targeted format for supervised firms

    Estonia's Financial Supervision Authority has launched an updated testing sandbox to support financial innovation, offering companies a free environment to test new financial technology products. The revamped sandbox is more user-friendly and focused on entities under supervision, facilitating open discussions on product suitability and technological challenges. Access is granted through an application detailing testing options, goals, and expected outcomes.

    SupervisionInnovation & testingFintech and insurtech
  • 2025-04-15SloveniaSlovenia Securities Market Agency

    Slovenia Securities Market Agency warns of rising crypto asset recovery scams targeting investors

    The Slovenia Securities Market Agency (ATVP) warned of increasing crypto asset fraud, often involving emails promising to recover lost assets for payments or personal data. ATVP noted tactics like high transaction costs and conditional fund releases, urging caution with online offers promising high returns and low risk. The agency advised reporting suspected fraud to the police and referred investors to its educational resources on reducing fraud risks.

    SupervisionAlertsFraud and scams
  • 2025-04-15VietnamVietnam State Securities Commission

    Vietnam State Securities Commission instructs listed applicants to pay the VND 1,000,000 fee for securities practising certificates

    The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a statutory fee of VND 1,000,000 for the issuance of securities practising certificates. Payment can be made via bank transfer or directly at the authority. Failure to complete the procedures within one year will result in certificate cancellation.

    Policy & regulationRules & requirementsLicensing and supervisory fees
  • 2025-04-15BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission sanctions auditors and an investment club trader with a warning and fines of up to BRL 200,000

    The Brazil Securities Commission (CVM) issued enforcement decisions in three cases, including a warning to Inforcont Auditores Independentes for noncompliance with the Continuing Professional Education Program. Crowe Macro Auditores Independentes and Fabio Debiaze Pino were fined BRL 200,000 and BRL 85,000, respectively, for breaches of Brazilian auditing standards, while Fábio Junior Thibes was fined BRL 198,919.60 for a fraudulent capital markets operation. Appeals can be made to the National Financial System Appeals Council.

    EnforcementInvestigations & enforcement actionsAuditing
  • 2025-04-15BrazilBrazil Securities Commission (CVM)

    Brazil Securities Commission and ANBIMA expand cooperation to cover FIDC and FIC FIDC offerings and broaden eligible CRI collateral

    The Brazil Securities Commission (CVM) and the Brazilian Financial and Capital Markets Association (ANBIMA) have expanded their cooperation to include Credit Rights Investment Funds (FIDCs) and funds investing in FIDCs (FIC FIDCs) for ANBIMA's analysis, eliminating the need for initial CVM review. ANBIMA can now review more underlying assets for Real Estate Receivables Certificates (CRIs) and incorporates Fiagro offerings under the new Fiagro regime. These changes aim to enhance market efficiency and respond to demand.

    Policy & regulationCooperationMarket development
  • 2025-04-15EstoniaCentral Bank of Estonia

    Central Bank of Estonia publishes labour market review showing broadly stable employment in 2024 despite register data pointing to job losses

    The Central Bank of Estonia's assessment indicates that Estonia's labour market remained stable in 2024 despite a recession, with employment levels maintained and productivity growth crucial for competitiveness. However, register data show a decline in employment, particularly in manufacturing, construction, and retail, while healthcare demand increased. The bank forecasts a temporary slowdown in household purchasing power in 2025 due to higher taxes and inflation, with improvement anticipated in 2026.

    ResearchEconomic data and developments
  • 2025-04-15KazakhstanAstana Financial Services Authority

    Astana Financial Services Authority warns of forged Bybit Limited licence used to promote services via Telegram

    The Astana Financial Services Authority (AFSA) alerted the public about fraudulent activities by Nurlan Asilbekov, promoting financial services with a forged AFSA licence on Telegram. The fake document references licence No. AFSA-G-LA-2023-0004, originally issued to Bybit Limited, and includes the individual's name, which is atypical for genuine AFSA licences. AFSA advises verifying authorisation through its Public Register and warns that transactions with unauthorised persons may lack protection under the Astana International Financial Centre's legal framework.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-04-15AzerbaijanCentral Bank of the Republic of Azerbaijan

    Central Bank of the Republic of Azerbaijan brings revised systemically important bank criteria into force with new deposit and substitutability indicators

    The Central Bank of the Republic of Azerbaijan has updated criteria for designating systemically important banks, revising indicators to include deposit portfolio volume and substitutability factors. Effective from 9 April 2025, the criteria shift focus from asset size to broader measures, including customer and service infrastructure metrics. Designation entails additional regulatory requirements, including higher capital adequacy and leverage ratios.

    Policy & regulationRules & requirementsPrudential risks
  • 2025-04-15PhilippinesPhilippines Insurance Commission

    Philippines Insurance Commission orders Diamond Memorial Care Plans to stop new pre-need business and places it under conservatorship

    The Philippines Insurance Commission issued a cease and desist order against Diamond Memorial Care Plans, Inc. for non-compliance with Republic Act No. 9829 and Commission orders, placing the company under conservatorship. Effective 15 April 2025, Attorney John A. Apatan was appointed as Interim Ex-officio Conservator, directing planholders and creditors to address claims through him.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
  • 2025-04-15North MacedoniaSecurities and Exchange Commission of the Republic of North Macedonia

    The Securities and Exchange Commission of the Republic of North Macedonia joins Global Money Week 2025 panel on financial literacy

    The Securities and Exchange Commission of the Republic of North Macedonia participated in a student panel during Global Money Week 2025 in Skopje, emphasizing the impact of financial knowledge on personal and professional outcomes. The event featured key financial leaders discussing the importance of financial literacy and the proactive measures regulators are implementing to enhance financial education.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-15CanadaOntario Securities Commission

    Ontario Securities Commission warns investors that 11 firms are not registered to deal or advise in securities in Ontario

    The Ontario Securities Commission (OSC) issued a warning that several entities, including Sequoia Capital Markets and Black Stone Capital, are not registered to deal or advise in securities in Ontario. The OSC maintains a warning list and advises investors to verify registration status through its resources.

    SupervisionAlertsUnlicensed or unauthorized activity
  • 2025-04-15SeychellesSeychelles Financial Services Authority

    Seychelles Financial Services Authority issues scam alert against Rocketinvest Limited for false licensing claims

    The Seychelles Financial Services Authority issued a scam alert regarding Rocketinvest Limited, which falsely claims FSA authorisation under licence number UG156. The FSA confirmed the entity is unknown, unlicensed, and the licence number is not associated with any regulated firm. The public is urged to perform due diligence before engaging with the company.

    SupervisionAlertsFraud and scamsUnlicensed or unauthorized activity
  • 2025-04-15UgandaUganda Insurance Regulatory Authority

    Insurance Regulatory Authority of Uganda amends insurance agent licensing directives with online applications and mandatory training and association membership

    The Insurance Regulatory Authority of Uganda has updated directives for licensing insurance agents, integrating registration with the Insurance Agents Association of Uganda into the core requirements. The new framework mandates online applications, eligibility criteria, and specific documentation, including proof of membership with the Insurance Training College. Licence fees are UGX 100,000 for individuals and UGX 200,000 for corporate agencies.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-04-15KosovoCentral Bank of the Republic of Kosovo

    Central Bank of the Republic of Kosovo leadership participates in the IMF Ninth High-Level Forum on central bank governance

    The Central Bank of the Republic of Kosovo participated in the IMF's Ninth High-Level Forum on Central Bank Governance in Riyadh, focusing on governance frameworks, board oversight, and institutional transparency. The participation aims to enhance governance practices and align with international standards.

    Policy & regulationCooperationCorporate governance
  • 2025-04-15EcuadorCentral Bank of Ecuador

    Central Bank of Ecuador reports 2.0% GDP contraction in 2024 and projects 2.8% growth in 2025

    The Central Bank of Ecuador reported a 2.0% GDP contraction for 2024, driven by declines in household consumption, government spending, and gross fixed capital formation, despite growth in exports and imports. Key factors included security conditions, oil well closures, political uncertainty, and a severe drought, with power outages causing significant economic losses. For 2025, the bank forecasts a 2.8% GDP recovery, supported by stronger consumption, non-oil exports, and investment, while noting ongoing risks.

    Data & statisticsEconomic data and developments
  • 2025-04-15MoroccoMoroccan Capital Markets Authority

    Moroccan Capital Market Authority reports Prev Invest SA crossing below 5% in CFG Bank and exiting its shareholding

    The Moroccan Capital Market Authority announced that Prev Invest SA has fallen below the 5% participation threshold in CFG Bank's capital and voting rights after selling shares. Prev Invest SA sold 1,486,400 shares on the block market at MAD 220 each and 289,710 shares on the central market at MAD 223.15 each, and no longer holds any CFG Bank shares.

    SupervisionRegulatory reporting
  • 2025-04-15EuropeEuropean Commission

    European Commission launches targeted consultation on barriers to EU capital markets integration for Savings and Investments Union rollout

    The European Commission has initiated a targeted consultation to gather stakeholder feedback on barriers to capital markets integration within the EU, as part of its Savings and Investments Union strategy. It addresses cross-border trading, investment fund scaling, supervisory practice divergences, and simplification options. Findings will inform measures to enhance savings mobilisation and financial opportunities, with a comprehensive package expected in Q4 2025.

    Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
  • 2025-04-15Saudi ArabiaSaudi Arabia Insurance Authority

    Saudi Arabia Insurance Authority licenses Deloitte Actuarial Services

    The Saudi Arabia Insurance Authority has licensed Deloitte Actuarial Services to provide services including risk assessment, pricing, liability evaluation and provisioning. The authorization is intended to broaden expertise and investment in the insurance sector.

    SupervisionAuthorisations & approvalsRisk managementCapital adequacyRegulatory reporting
  • 2025-04-15HungaryNational Bank of Hungary

    National Bank of Hungary agrees six-point cooperation with Hungarian Chamber of Commerce and Industry to jointly analyse economic trends and support growth

    The National Bank of Hungary and the Hungarian Chamber of Commerce and Industry have signed a six-point cooperation agreement to promote sustainable economic growth. The agreement includes joint analysis of economic processes, monitoring of export activity, and research projects to inform economic policy. It also focuses on identifying high-potential SMEs and establishing collaborative platforms with financial institutions and universities.

    Policy & regulationCooperationDomestic cooperation
  • 2025-04-15VietnamState Bank of Vietnam

    State Bank of Vietnam reports NAPAS rollout of Apple Pay for domestic NAPAS cardholders

    The State Bank of Vietnam announced that Vietnam National Payment Corporation (NAPAS) has launched Apple Pay for domestic NAPAS cardholders, facilitating in-store, in-app, and online payments via Apple devices. The service, initially available through Vietcombank and OCB, uses Face ID, Touch ID, or a passcode for authentication and is expanding acceptance with partners like OnePay and VNPay.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-04-15VietnamState Bank of Vietnam

    State Bank of Vietnam targets 16% credit growth in 2025 and coordinates VND 500 trillion credit support package for infrastructure and digital projects

    At a government conference, State Bank of Vietnam Governor Nguyen Thi Hong outlined a 2025 credit growth target of 16%, with flexibility for adjustment if inflation is controlled. The Governor discussed a VND 500 trillion credit package for infrastructure and digital technology investments, emphasizing digital transformation and data ecosystem development. Additionally, SBV is considering foreign currency needs for large projects while maintaining exchange rate stability.

    Policy & regulationReform agendas & prioritiesLendingMonetary policy decisions and developments
  • 2025-04-15VietnamState Bank of Vietnam

    State Bank of Vietnam issues a 2025 plan to cut and simplify administrative procedures and investment and business conditions

    The State Bank of Vietnam's 2025 plan aims to streamline administrative procedures by cutting at least 30% of unnecessary investment conditions, processing times, and compliance costs. The plan mandates 100% online delivery of business-related procedures and emphasizes decentralization within the bank's operations. Internal procedures will be reviewed for efficiency, with the State Bank of Vietnam Office overseeing implementation and progress.

    Policy & regulationImplementation, projects & pilotsRegulatory burden
  • 2025-04-15VietnamState Bank of Vietnam

    State Bank of Vietnam and Asian Development Bank agree to expand sovereign lending and sustain regular policy dialogue

    The State Bank of Vietnam and the Asian Development Bank (ADB) discussed expanding ADB government lending in Vietnam and enhancing policy dialogue and technical coordination. They reviewed strategic cooperation priorities, including the upcoming signing of the Inclusive and Climate-Resilient Infrastructure for Ethnic Minority Areas II project. The Governor requested streamlined procedures, flexible financing structures, and lower borrowing costs, while ADB expressed readiness to expand long-term finance in key sectors.

    Policy & regulationCooperationOther
  • 2025-04-15RussiaCentral Bank of Russia

    Central Bank of Russia revokes PromTransBank banking licence and appoints DIA provisional administration after repeated AML/CFT breaches

    The Central Bank of Russia revoked the banking licence of PromTransBank due to repeated breaches of banking laws, AML/CFT violations, and persistent financial losses. The bank, ranked 177th by assets, faced restrictions on household deposits and failed to restore financial soundness. The State Corporation Deposit Insurance Agency was appointed as provisional administrator, ensuring depositors are eligible for compensation up to RUB 1.4 million.

    EnforcementSanctions & designationsLicensing and supervisory fees
  • 2025-04-15RussiaCentral Bank of Russia

    Central Bank of Russia and Federal Antimonopoly Service issue recommendations on deposit rate disclosures in remote channels

    The Central Bank of Russia and the Federal Antimonopoly Service have issued guidance for banks on presenting deposit information remotely to prevent consumer misinformation. Banks should avoid using visual techniques to highlight attractive figures like returns or interest rates and must clearly state conditions for maximum and minimum guaranteed rates without graphic emphasis. If multiple deposit types share the same name, the minimum guaranteed interest rate should be calculated separately for each.

    Policy & regulationGuidance & interpretationDisclosures
  • 2025-04-15United StatesFederal Deposit Insurance Corporation

    United States Federal Deposit Insurance Corporation and other federal regulators temporarily pause appraisal requirements for Los Angeles County disaster-affected real estate transactions

    The U.S. Federal Deposit Insurance Corporation, Federal Reserve Board, National Credit Union Administration, and Office of the Comptroller of the Currency have temporarily paused certain appraisal requirements for real estate transactions in Los Angeles County due to 2025 wildfires and wind damage. This measure facilitates lending and loan modifications for affected families and businesses without appraisals, ensuring real estate values support transactions. The pause expires on January 8, 2028, with ongoing monitoring of lending practices for safety and soundness.

    Policy & regulationRules & requirementsOther
  • 2025-04-15NorwayNorwegian Finanstilsynet

    Norwegian Financial Supervisory Authority issues guidance on heightened terrorism financing risks and reporting expectations

    The Norwegian Financial Supervisory Authority issued guidance for entities under the Anti-Money Laundering Act on managing terrorism financing risks and reporting to Økokrim’s Financial Intelligence Unit. It highlights risk areas like digital fundraising, virtual assets, and gaming-related transactions, emphasizing well-documented suspicion before reporting. It also stresses monitoring activities involving minors and cross-border transactions with non-reporting entities.

    Policy & regulationGuidance & interpretationAML and CFT
  • 2025-04-15ItalyItalian Securities Commission (Consob)

    Italian Securities Commission stages crypto-focused financial education show and three-day ACF public desk at Salone del Risparmio

    The Italian Securities Commission (Consob) announced investor education initiatives at the Salone del Risparmio, featuring a conference-show on financial and crypto-related risks and a visitor space by its Financial Disputes Arbitrator. The event, “Il momento è cri(p)tico,” will address topics like blockchain and online scams. Consob will also participate in panel sessions on AI in asset management and the effectiveness of financial education.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-15ChileChile Financial Market Commission

    Chile Financial Market Commission launches consultation on rules to operationalise the Consolidated Debt Registry REDEC

    The Chile Financial Market Commission has released a consultation on a regulatory proposal for the Consolidated Debt Registry (REDEC) under Law No. 21,680. The proposal outlines reporting, access, consent, and security arrangements to centralize debtor information and enhance the credit information framework. It includes operational requirements for reporting entities, data submission guidelines, security measures, and debtor rights, with consultation materials available on the CMF website.

    Policy & regulationRules & requirementsCredit riskRegulatory reporting
  • 2025-04-15ChileChile Financial Market Commission

    Chile Financial Market Commission opens sanctioning procedure against Sartor AGF and former directors over alleged fund management failures and false disclosures

    Chile’s Financial Market Commission (CMF) has initiated an administrative sanctioning procedure against Sartor Administradora General de Fondos S.A. (Sartor AGF) and its former directors and executives. The charges include serious breaches of due care and diligence, provision of false information, and failure to maintain separation between fund administration and other activities. The investigation will proceed confidentially, with charged parties having 20 business days to respond.

    EnforcementInvestigations & enforcement actions
  • 2025-04-15United StatesFederal Reserve Board

    US Federal Reserve Board joins FDIC, OCC and NCUA in temporarily pausing FIRREA appraisal requirements for Los Angeles County disaster-related real estate transactions

    The US Federal Reserve Board, FDIC, OCC, and NCUA issued temporary exceptions to appraisal requirements for certain real estate transactions in Los Angeles County due to wildfire and wind damage. This allows banks and credit unions to lend or modify loans without an appraisal when difficult to obtain, ensuring real estate value supports the transaction. The relief assists affected families and businesses and reduces loan processing times, with monitoring to ensure safe lending practices.

    Policy & regulationRules & requirementsLending
  • 2025-04-15United StatesCommodity Futures Trading Commission

    Commodity Futures Trading Commission issues no-action relief on swap margin and clearing for Credit Suisse International swaps transferred to UBS AG London Branch

    The Commodity Futures Trading Commission's Market Participants Division and Division of Clearing and Risk issued a no-action letter on swap clearing and margin requirements for swaps transferred from Credit Suisse International to UBS AG London Branch after their merger. The relief applies to legacy swaps not previously subject to these requirements, with specified conditions for non-enforcement against UBS AG and its counterparties, responding to a request from UBS AG.

    Policy & regulationGuidance & interpretationCCPs
  • 2025-04-15LiechtensteinFinance Liechtenstein

    Finance Liechtenstein outlines how the MiCAR Implementation Act and TVTG underpin tokenisation and EU market access

    Finance Liechtenstein explained how the MiCAR Implementation Act and the TVTG position Liechtenstein as a gateway for crypto-asset activities in the EU and EEA. Liechtenstein's EEA membership facilitates market access for local providers, attracting Swiss firms to establish subsidiaries. The TVTG offers a civil law framework for tokenisation, while MiCAR focuses on service provider supervision and public token offerings.

    Policy & regulationGuidance & interpretationBlockchain and distributed ledger technology
  • 2025-04-15GlobalFinancial Stability Board

    Financial Stability Board finalises the Format for Incident Reporting Exchange to streamline cyber and operational incident reporting

    The Financial Stability Board (FSB) has released the final Format for Incident Reporting Exchange (FIRE), a standardized format to enhance cyber and operational incident reporting across jurisdictions. Developed with private sector input, FIRE aims to reduce reporting fragmentation and facilitate information-sharing among authorities, applicable to third-party providers and firms beyond the financial sector. The framework, incorporating feedback and robustness testing, supports phased implementation and interoperability with existing systems.

    Policy & regulationInternational standards & recommendationsCyber resilienceRegulatory reporting
  • 2025-04-15United StatesOffice of the Comptroller of the Currency

    United States Office of the Comptroller of the Currency releases letter to supervised institutions on major email system security incident

    The United States Office of the Comptroller of the Currency issued a letter to its supervised institutions regarding unauthorized access to its email systems, designated as a major information security incident. The authority committed to addressing contributing deficiencies and ensuring accountability for any related organizational or structural shortcomings.

    SupervisionAlertsCyber resilience
  • 2025-04-15ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission removes one-business-day minimum holding period for resident individuals’ foreign-currency settled securities sales and transfers

    Argentina's Securities Commission (CNV) issued General Resolution No. 1062, removing the minimum holding period for resident individuals in certain negotiable securities transactions. This change, part of the government's Phase 3 economic programme, facilitates sales and transfers of securities settled in foreign currency. The measure is effective immediately and aligns with the Central Bank's Communication “A” 8226.

    Policy & regulationRules & requirementsForeign exchange policy and markets
  • 2025-04-15ArgentinaArgentina Securities Commission (CNV)

    Argentina Securities Commission launches 15-day public consultation on securities tokenization regime

    The Argentina Securities Commission (CNV) has launched a public consultation on a proposed tokenization regime for digital representations of publicly offered negotiable securities, approved under General Resolution No. 1060. The proposal outlines using distributed ledger technologies (DLT) to ensure security, traceability, and verifiability, allowing digital representation of various securities, including shares and corporate bonds. The CNV engaged market participants and relevant authorities in the consultation process.

    Policy & regulationRules & requirementsTokenization
  • 2025-04-15Cape VerdeBank of Cape Verde

    Bank of Cape Verde to issue new CVE 1,000 and CVE 2,000 banknotes with upgraded security and durability features

    The Bank of Cape Verde will issue new CVE 1,000 and CVE 2,000 banknotes under Decree-Law No. 02/2025, retaining the 2014 design themes while enhancing security and durability features. The CVE 1,000 note highlights Funaná with updated holographic and ultraviolet elements, while the CVE 2,000 note features Morna with a new portrait of Cesária Évora. Both new and existing notes will remain legal tender and be distributed via credit institutions.

    Monetary policyMonetary policy instruments & operationsCurrency and cash management
  • 2025-04-15AustraliaAustralian Prudential Regulation Authority

    Australian Prudential Regulation Authority publishes rolling 2024 life insurance claims and disputes statistics for 16 direct insurers

    The Australian Prudential Regulation Authority published its Life Insurance Claims and Disputes Statistics for 2024, detailing claims and disputes outcomes for 16 Australian life insurers. Concurrently, the Australian Securities and Investments Commission updated its MoneySmart tool with this data, enabling comparisons across cover types and distribution channels using four key metrics.

    Data & statisticsSupervisory dataComplaints and dispute resolution
  • 2025-04-15MoldovaNational Bank of Moldova

    National Bank of Moldova engages AmCham on AML controls, eKYC adoption and oversight of non-bank lenders and insurers

    The National Bank of Moldova, led by First Deputy Governor Petru Rotaru, engaged with the American Chamber of Commerce in Moldova to emphasize its commitment to dialogue with the private sector and equitable access to financial services. Key discussions included anti-money laundering and counter-terrorist financing measures, focusing on electronic customer identification and staff training. The bank also highlighted its expanded supervisory remit to include non-bank credit and insurance, aiming for consistent prudential and transparency standards.

    SupervisionSupervision approach, priorities & toolkitAML and CFTFinancial inclusion
  • 2025-04-15ArgentinaCentral Bank of Argentina

    Central Bank of Argentina eases FX market access for non-resident investment repatriation and will issue up to USD 3bn BOPREAL Series 4

    The Central Bank of Argentina will allow non-resident investors to access the Free Exchange Market (MLC) for repatriating new investments without prior approval, subject to settlement and holding-period conditions. It also announced the issuance of Bonos para la Reconstrucción de una Argentina Libre (BOPREAL) Series 4, a USD 3 billion bond to regularize legacy commercial and related-party liabilities, with a three-year maturity and subscription in Argentine pesos. These measures are part of Phase 3 of the economic programme, complementing previous MLC flexibilisation efforts.

    Policy & regulationRules & requirementsLicence approval
  • 2025-04-15DominicaDominica Financial Services Unit

    Dominica Financial Services Unit revokes The National Cooperative Credit Union Limited’s money transmission agent licence for JN Money Services effective 3 January 2025

    The Dominica Financial Services Unit revoked The National Cooperative Credit Union Limited's licence to act as an agent for JN Money Services Limited, effective 3 January 2025. This revocation, under section 33 of the Money Services Business Act, prohibits NCCU from operating as a money services business or conducting related financial transactions.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-04-15DominicaDominica Financial Services Unit

    Dominica Financial Services Unit revokes Financial Services Inc.-Fast Cash money services business licence effective 3 January 2025

    The Dominica Financial Services Unit has revoked the money services business licence of Financial Services Inc.-Fast Cash, effective 3 January 2025, under Section 33 of the Money Services Business Act. The firm is no longer authorised to operate as an MSB or conduct related financial transactions, including micro financing. This action was publicised in the Gazette on 20 March 2025.

    SupervisionAuthorisations & approvalsLicence withdrawal
  • 2025-04-15EuropeEuropean Insurance and Occupational Pensions Authority

    European Insurance and Occupational Pensions Authority publishes costs and past performance report showing IBIPs returns rose but did not beat inflation

    The European Insurance and Occupational Pensions Authority (EIOPA) released its Costs and Past Performance report, highlighting improved net returns for insurance-based investment products (IBIPs) in 2023, though generally not surpassing inflation. Unit-linked and hybrid products showed positive returns, with higher-risk unit-linked products averaging over 10%, while sustainable products expanded, with 55% incorporating ESG features. The analysis, based on EIOPA's revised data collection, covered a significant portion of the European market, excluding Cyprus, Iceland, and the Netherlands.

    ResearchActivity and performance reporting
  • 2025-04-15Trinidad & TobagoCentral Bank of Trinidad & Tobago

    Central Bank of Trinidad and Tobago hosts IMF technical assistance mission to support a UPI-style fast payments solution

    The Central Bank of Trinidad and Tobago hosted an IMF technical assistance team to discuss adopting a fast payments solution similar to India's Unified Payments Interface. The engagement included insights from India, Brazil, Sri Lanka, Thailand, Peru, and the Maldives, with participation from various local and international stakeholders. A summary of the IMF report will be released upon completion.

    Policy & regulationCooperationPayments and payment systems
  • 2025-04-15Trinidad & TobagoCentral Bank of Trinidad & Tobago

    Central Bank of Trinidad and Tobago progresses UPI-style fast payments plans with an IMF technical assistance mission

    The Central Bank of Trinidad and Tobago hosted an IMF technical assistance team to discuss adopting a fast payments solution based on India's Unified Payments Interface. The engagement included insights from India, Brazil, Sri Lanka, Thailand, Peru, and the Maldives, with participation from various local and international stakeholders. A summary of the IMF report will be published upon completion.

    Policy & regulationImplementation, projects & pilotsPayments and payment systems
  • 2025-04-15Trinidad & TobagoCentral Bank of Trinidad & Tobago

    Central Bank of Trinidad and Tobago hosts IMF technical assistance mission on adopting a fast payments solution modelled on India’s Unified Payments Interface

    The Central Bank of Trinidad and Tobago hosted an IMF technical assistance team to discuss adopting a fast payments solution akin to India's Unified Payments Interface. The engagement included insights from international experiences and involved various stakeholders, including government and financial institutions. A summary of the IMF report will be published upon completion.

    Policy & regulationCooperationPayments and payment systems
  • 2025-04-14AngolaAngola Capital Markets Commission

    Angola Capital Markets Commission publishes its 2024 annual activities and accounts report with audit and Fiscal Council opinions

    The Angola Capital Markets Commission released its 2024 Annual Report on Activities and Accounts, detailing its regulatory, supervisory, and promotional activities, as well as financial accounts. The report aligns with the 2023–2027 strategy and includes insights from the Fiscal Council and an independent auditor.

    Institutional developmentOtherAccounting and financial reporting
  • 2025-04-14MontenegroMontenegro Capital Market Authority

    Montenegro Capital Market Authority launches consultation on draft rules for qualifying holdings in open-end public fund management companies

    The Montenegro Capital Market Authority is consulting on draft rules to standardize information requirements and set criteria for assessing qualifying holdings in management companies of open-end investment funds with a public offering. The draft was adopted under Articles 27(7) and 36(2) of the Law on Open-End Investment Funds with Public Offering.

    Policy & regulationRules & requirementsOther
  • 2025-04-14AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission suspends Beacon Wealth’s AFS licence until 7 April 2026 after ownership change and cessation of business

    The Australian Securities & Investments Commission (ASIC) has suspended Beacon Wealth Pty Ltd’s Australian financial services licence until April 2026, citing cessation of business operations. Ownership changes in June 2024 led to the replacement of directors and a complete share transfer, with responsible managers no longer involved. Beacon Wealth, formerly known as CCZ Statton Pty Ltd, intends to resume services but requires ASIC approval.

    EnforcementSanctions & designationsLicence withdrawal
  • 2025-04-14AustraliaAustralian Securities & Investments Commission

    Australian Securities & Investments Commission brings civil penalty proceedings against Wiluna Mining over alleged AUD 7 million shortfall in disclosed rights issue proceeds

    ASIC has initiated civil penalty proceedings against Wiluna Mining, former chair Milan Jerkovic, and former chief commercial officer James Malone for alleged breaches of disclosure obligations and directors’ duties. Wiluna inaccurately announced raising AUD 57.3 million, with AUD 7 million never received, and failed to disclose this before entering administration. The proceedings seek declarations and penalties, especially against Malone. Wiluna was de-listed on 5 April 2024.

    EnforcementInvestigations & enforcement actionsCorporate governanceDisclosures
  • 2025-04-14KenyaCentral Bank of Kenya

    Central Bank of Kenya approves Access Bank PLC’s 100% acquisition of National Bank of Kenya and asset transfer to KCB Bank Kenya

    The Central Bank of Kenya approved Access Bank PLC's acquisition of 100% of National Bank of Kenya Limited from KCB Group PLC, along with the transfer of certain assets and liabilities to KCB Bank Kenya Limited. Regulatory approvals were granted by both the CBK and Kenya’s Cabinet Secretary for the National Treasury and Economic Planning. The transaction will be finalized in accordance with the parties' agreement.

    SupervisionAuthorisations & approvalsLicence approval
  • 2025-04-14UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market announces new instrument to fund future harvests while protecting investor rights

    The Ukraine National Commission on Securities and Stock Market is developing a new financial instrument to aid agricultural producers in securing funding for future harvests, ensuring transparency and investor rights protection. This initiative, supported by the International Finance Corporation, the World Bank Group, and the Swiss Confederation, aims to digitalise the agricultural sector and broaden financing options.

    Policy & regulationImplementation, projects & pilotsSME financing
  • 2025-04-14UkraineUkraine National Commission on Securities and Stock Market

    Ukraine National Commission on Securities and Stock Market adds five projects to its list of unreliable investment projects

    The Ukraine National Commission on Securities and Stock Market has updated its list of unreliable investment projects, adding five new cases. The Commission reiterated warnings to investors about the risks associated with these schemes and highlighted its set of 10 key indicators for assessing potentially dubious projects. The full list is accessible on the Commission's website under the "Protection of Investors’ Rights" section.

    SupervisionAlertsSanctions list update
  • 2025-04-14PeruCentral Bank of Peru

    Central Reserve Bank of Peru reports a 12-month trade surplus of USD 24,685 million through February 2025

    The Central Reserve Bank of Peru reported a rolling 12-month goods trade surplus of USD 24,685 million through February 2025, surpassing previous months. February's trade surplus was USD 2,109 million, with exports rising 15.2% year-on-year due to higher metal prices and increased non-traditional product volumes. Imports increased by 9.6%, driven by capital goods, industrial inputs, and durable consumer goods.

    Data & statisticsBalance of payments and other external statistics
  • 2025-04-14MoroccoMoroccan Insurance Authority (ACAPS)

    Morocco's Supervisory Authority of Insurance and Social Welfare hosts National Association of Insurance Commissioners delegation to deepen insurance supervision cooperation

    Morocco's Supervisory Authority of Insurance and Social Welfare (ACAPS) is hosting a delegation from the National Association of Insurance Commissioners (NAIC) to enhance their strategic partnership on insurance supervision. The visit focuses on technical exchanges and exploring new areas for collaboration, building on a memorandum of understanding signed in 2019.

    SupervisionCooperationCross-border cooperation
  • 2025-04-14GeorgiaNational Bank of Georgia

    National Bank of Georgia briefs Freedom Holding on supervisory framework as it explores expanding into Georgia

    The National Bank of Georgia held a meeting with Freedom Holding Corp. to discuss the group's interest in expanding operations in Georgia, including banking and brokerage services. Discussions covered Georgia's investment environment, legislative framework, and supervisory policies. Governor Natia Turnava highlighted the country's stable macroeconomic conditions and recent reforms to develop local financial markets.

    Policy & regulationGuidance & interpretationCross-border cooperation
  • 2025-04-14United StatesFederal Reserve Bank of New York

    Federal Reserve Bank of New York’s March SCE shows one-year inflation expectations rise to 3.6% and unemployment outlook reaches highest since April 2020

    The Federal Reserve Bank of New York's March 2025 Survey of Consumer Expectations shows short-term inflation expectations rising to 3.6% and stock price expectations declining to their lowest since June 2022. Households reported weaker labor market and financial outlooks, with increased pessimism about credit access and future financial conditions. Expected earnings and household income growth both fell to 2.8%, while the probability of higher unemployment rose to 44.0%.

    Data & statisticsEconomic data and developments
  • 2025-04-14United StatesFederal Reserve Bank of Philadelphia

    Federal Reserve Bank of Philadelphia appoints three new members and names new chair and vice chair for its Economic and Community Advisory Council

    The Federal Reserve Bank of Philadelphia appointed John Grady, Warren E. Moore, and Brian Schaller to its Economic and Community Advisory Council (ECAC), with Loree D. Jones Brown as chair and Steve Voskuil as vice chair. The ECAC, established in 2008, advises on trends and market conditions in the Third Federal Reserve District and supports inclusive regional economic growth.

    Institutional developmentLeadership change & appointmentsLeadership change and appointments
  • 2025-04-14United KingdomFinancial Conduct Authority

    Financial Conduct Authority charges John Burford with unauthorised investment business and misleading more than 100 investors

    The Financial Conduct Authority (FCA) has charged John Burford with conducting unauthorised regulated activity and misleading investors, involving over GBP 1 million. Burford, as director of Financial Trading Strategies Limited, allegedly misrepresented investment values and losses through subscription services. The charges relate to breaches of the Financial Services and Markets Act 2000 and the Companies Act 2006.

    EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activityFraud and scams
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan sets out draft banking law reforms to strengthen bank corporate governance

    Kazakhstan's Financial Market Agency proposed a draft law to enhance bank governance and financial stability. Reforms include fit-and-proper requirements for risk, audit, and compliance heads, development of independent directors, and refined supervisory tools. It also addresses related-party relationships and stressed asset management, aligning with international standards.

    Policy & regulationRules & requirementsCorporate governanceSupervision process and methodologies
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Kazakhstan’s Agency for Regulation and Development of the Financial Market proposes an Islamic window regime for conventional banks to offer Islamic banking services

    Kazakhstan's Financial Market Agency proposed a draft law enabling conventional banks to offer Islamic banking services through an "Islamic window" without changing their core model. This allows interaction between Islamic and conventional operations while maintaining separate accounting and operational autonomy for Islamic activities. The draft also sets minimum qualifications for Islamic finance council members and plans for dedicated prudential standards.

    Policy & regulationRules & requirementsFintech and insurtech
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan proposes a new basic banking licence in its draft banking law

    Kazakhstan's Financial Market Agency proposes a "basic" banking licence to lower entry barriers and boost competition. This licence restricts operations, limits business scope, and prohibits lending to related parties, while easing some prudential and reporting requirements. Basic-licence banks face an asset-size cap, requiring a universal licence upon reaching the threshold, with supervision through a core framework including the Supervisory Review and Evaluation Process (SREP).

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan proposes a three-stage insolvent bank resolution framework and TLAC for systemic banks

    Kazakhstan's Financial Market Agency proposed legislative amendments in a draft law on banks to restructure handling insolvent banks. The framework introduces enhanced supervision, a financial stability recovery regime, and a resolution regime to limit state support and minimize financial system spillovers. It mandates banks update recovery plans and requires systemically important banks to hold total loss-absorbing capacity (TLAC).

    Policy & regulationRules & requirementsSupervision process and methodologies
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan plans conduct supervision regime with powers to halt financial product sales

    Kazakhstan's Financial Market Agency plans a conduct supervision system to prevent breaches of consumer rights, aligning with G20 principles. The framework will harmonize product governance, introduce responsible lending, and tighten disclosure and advertising requirements. It will also revise consumer complaint processes and mandate financial literacy initiatives by institutions.

    Policy & regulationReform agendas & prioritiesSupervision process and methodologies
  • 2025-04-14KazakhstanAgency for Regulation and Development of the Financial Market of the Republic of Kazakhstan

    Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan makes financial stability its overriding objective in draft banking law

    The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has revised its draft law on banks to prioritize financial stability as its primary objective. The draft law, a rewrite of the 1995 banking law, removes outdated provisions and is structured around the bank life cycle, from establishment to liquidation, to address modern challenges and support economic activity and financial technology development.

    Policy & regulationRules & requirementsLicensing framework and process
  • 2025-04-14PhilippinesDepartment of Finance (Philippines)

    Philippines Department of Finance strengthens the Inter-Agency Technical Working Group on Sustainable Finance and sets 2025 priorities

    The Philippines Department of Finance (DOF) released its 2025 strategic plans for sustainable finance, enhancing the Inter-Agency Technical Working Group on Sustainable Finance (ITSF) in policy development. Governance changes include quarterly ITSF meetings and potential expanded membership, alongside a new Roadmap structure with Policy, Financing, and Investment clusters. The DOF aims to establish a Center of Excellence for Sustainable Finance and has outlined priorities such as a Carbon Market Framework study and updates to the Sustainable Finance Framework.

    Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
  • 2025-04-14Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority releases Exchange Fund analytical accounts showing foreign assets down HK$24.0 billion to HK$3,415.9 billion

    The Hong Kong Monetary Authority reported a HK$24.0 billion decline in foreign assets of the Exchange Fund, totaling HK$3,415.9 billion as of end-March 2025, under the IMF’s Special Data Dissemination Standard. The Monetary Base was HK$1,977.1 billion, with claims on the private sector at HK$342.3 billion and foreign liabilities at HK$30.7 billion. Two additional Exchange Fund data releases are scheduled for 30 April 2025.

    Data & statisticsMonetary data
  • 2025-04-14Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority alerts public to fraudulent Chong Hing Bank websites and internet banking login screens

    The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-04-14Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority issues alert on fraudulent Bank of East Asia websites and internet banking login screens

    The Hong Kong Monetary Authority (HKMA) has issued a warning about fraudulent websites and internet banking login screens impersonating The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Police.

    SupervisionAlertsFraud and scams
  • 2025-04-14Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority warns of fraudulent Shanghai Commercial Bank websites and internet banking login screens

    The Hong Kong Monetary Authority (HKMA) issued a public alert regarding fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.

    SupervisionAlertsFraud and scams
  • 2025-04-14Hong KongHong Kong Monetary Authority

    Hong Kong Monetary Authority and Consumer Council launch VR simulation games on credit card use and fraud prevention

    The Hong Kong Monetary Authority and the Consumer Council have introduced virtual reality simulation games to enhance self-protection skills in students with special educational needs and senior citizens, focusing on responsible credit card use and scam awareness. The initiative complements the HKMA’s Anti-Scam Consumer Protection Charter 2.0 and the Consumer Council's ongoing Support Programme for Persons with Special Needs.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-14Middle EastUnion of Arab Securities Authorities

    Union of Arab Securities Authorities urges stronger regulatory frameworks and secondary markets at AIM Congress 2025

    The Union of Arab Securities Authorities participated in AIM Congress 2025 in Abu Dhabi, where the Secretary-General emphasized the impact of fragmented regulatory frameworks on cross-border investment and advocated for stronger regulatory systems and secondary market development to enhance liquidity and market efficiency.

    OtherCross-border cooperationMarket development
  • 2025-04-14EuropeEuropean Central Bank

    European Central Bank SAFE survey shows lower corporate loan rates and a broadly unchanged financing gap in the euro area

    The European Central Bank's first quarter 2025 Survey on the Access to Finance of Enterprises (SAFE) indicates lower interest rates on bank loans due to monetary policy easing, though non-rate terms have tightened. While bank loan demand decreased and availability remained stable, firms anticipate modest improvements in access over the next three months. The survey, covering 11,022 euro area firms, highlights a net 12% reporting lower interest rates, driven by large firms, with minimal change for SMEs.

    Data & statisticsFinancial and market indicatorsSupervisory data
  • 2025-04-14TajikistanNational Bank of the Republic of Tajikistan

    National Bank of the Republic of Tajikistan sets out priorities for expanding digital payments and strengthening cybersecurity

    The National Bank of the Republic of Tajikistan, represented by Deputy Chair Gulbahor Naziri, focuses on enhancing payment infrastructure and regulatory frameworks to boost digital payments and financial access. Key initiatives include the Payment System Development Strategy, the National Financial Inclusion Strategy, and the World Bank's "Digital Foundations Tajikistan" project. The bank also emphasized modern governance, data protection, and cybersecurity to mitigate digitalisation risks.

    Policy & regulationReform agendas & prioritiesFinancial inclusionFinancial literacy and education
  • 2025-04-14BrazilBrazilian Superintendence of Private Insurance (SUSEP)

    Brazilian Superintendence of Private Insurance participates in ALASA 2025 congress on agricultural insurance in Latin America

    Director Airton Almeida of the Brazilian Superintendence of Private Insurance (SUSEP) attended the 2025 International Congress of the Latin American Association for the Development of Agricultural Insurance in Brasília. The event focused on innovation, sustainability, and cooperation in agricultural insurance, addressing technological advancements, climate change impacts, and integration with agricultural credit. Key participants included Brazil’s Minister of Agriculture and Livestock and the Central Bank of Brazil’s head for rural credit regulation.

    Policy & regulationCooperationClimate risk and sustainable finance
  • 2025-04-14PhilippinesCentral Bank of the Philippines

    Central Bank of the Philippines urges banks to promote Credit Consciousness Week 2025 messaging

    The Central Bank of the Philippines (BSP) has issued a circular urging banks to promote Credit Consciousness Week 2025, aligned with Presidential Proclamation No. 568. The campaign, themed “Smart borrowing culture for a better future,” runs from 24 to 30 April 2025, with banks encouraged to use specific messaging and hashtags across various communication channels.

    Financial literacy & educationFinancial literacy and education
  • 2025-04-14Dominican RepublicSuperintencencia de Bancos de la Republica Dominicana

    Dominican Republic's Superintendency of Banks orders DOP 46.7 million in reimbursements via ProUsuario, taking total since 2020 to DOP 579.5 million

    The Superintendency of Banks of the Dominican Republic mandated financial institutions to reimburse DOP 46.7 million to users in Q1 2025, marking a 62.1% increase from the previous quarter. This brings total reimbursements since August 2020 to DOP 579.5 million, driven by complaints related to unrecognized transactions and transfer issues. The growth in refunds is attributed to expanded access channels, including the ProUsuario mobile app.

    SupervisionInterventionsComplaints and dispute resolution
  • 2025-04-14VietnamVietnam State Securities Commission

    Vietnam State Securities Commission instructs three individuals to pay VND 1,000,000 securities practice certificate fee

    The Vietnam State Securities Commission has mandated three individuals to pay a VND 1,000,000 fee for the issuance of a securities practice certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person, with proper identification. Failure to complete the procedure within one year will result in certificate cancellation.

    Policy & regulationRules & requirementsLicensing and supervisory fees
  • 2025-04-14ItalyItalian Institute for Insurance Supervision (IVASS)

    Italian Institute for Insurance Supervision warns of a counterfeit surety bond policy in the name of Accelerant Insurance Europe

    The Italian Institute for Insurance Supervision (IVASS) warned about a counterfeit surety bond falsely attributed to Accelerant Insurance Europe S.A./N.V., which disowned it. IVASS advised consumers to verify insurance offers and ensure dealings with authorised insurers and intermediaries by consulting IVASS registers and warnings. Accelerant Insurance Europe S.A./N.V. is a Belgian insurer supervised by the National Bank of Belgium, authorised to operate in Italy in non-life business.

    SupervisionAlertsFraud and scams
  • 2025-04-14MoroccoCentral Bank of Morocco

    Central Bank of Morocco launches secure portal for citizens to access bank account and cheque incident information

    The Central Bank of Morocco launched a web portal for secure, instant access to bank account information, enhancing its digitisation efforts. The platform allows users to view details of current and closed accounts, request information on deceased persons' accounts, and check cheque payment incidents. Authentication is managed through the Directorate General for National Security's system.

    Policy & regulationImplementation, projects & pilotsOther