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2025-04-04•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has initiated a civil proceeding against IAG New Zealand Limited in the High Court at Auckland for alleged fair dealing breaches under the Financial Markets Conduct Act, involving incorrect premium pricing and discount application errors affecting about 269,000 customers. IAG, which self-reported the issues, admitted liability, and is cooperating with the investigation, faces claims of over NZD 35 million in overcharges and a net gain of NZD 31.1 million.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-04-04•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has introduced a new FAQ page on its website to provide guidance on the Termo de Compromisso, enhancing accessibility and user-friendliness. The page addresses 14 key questions, including the origin, purpose, and proposal submission process of the Termo de Compromisso. CVM officials highlight it as a tool for securing timely and adequate undertakings in response to potential capital market misconduct.
Policy & regulationGuidance & interpretationOther
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2025-04-04•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Singapore Police Force warned against impersonation scams on platforms like WeChat, UnionPay, and Alipay, with 678 cases since January 2025 and losses of at least SGD 17.4 million. Scammers impersonate platform staff, requesting personal information and bank transfers. The advisory stresses that MAS officers do not issue arrest warrants and urges the public to avoid sharing personal details or transferring money to unknown parties.
SupervisionAlertsFraud and scams
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2025-04-04•Council of Financial Regulators•Council of Financial Regulators (CoFR)
The Council of Financial Regulators (CoFR) released its March quarterly statement detailing its 24 March meeting, where members evaluated external influences on New Zealand’s financial system and agreed to reassess the Council’s strategic focus and future work programme. Key topics included advancements in artificial intelligence, geopolitical uncertainty, and developments in New Zealand’s payments system, emphasizing the significance of the upcoming Customer and Products Data Bill.
Policy & regulationReform agendas & prioritiesArtificial intelligenceGeopolitical risk
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2025-04-04•Serbia•National Bank of Serbia
The National Bank of Serbia reported a significant rise in financial contracts concluded remotely in 2024, totaling 323,899, an 83.9% increase from 2023. Video identification for first-time bank customers surged by 142.2%, comprising 28% of these contracts, while other electronic means accounted for 72%. Remote contracting grew across all services, notably in payment account openings (+214.5%) and overdrafts (+94.8%).
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-04•Serbia•National Bank of Serbia
The National Bank of Serbia and the National Bank of Austria met to discuss central bank cooperation and the impact of economic and geopolitical developments. Austria's significant role in Serbia's economy was highlighted, with Austrian-owned banks and companies contributing notably. Governor Jorgovanka Tabaković reviewed Serbia's macro-financial achievements, including an investment-grade credit rating, stable inflation, and record foreign exchange reserves.
Policy & regulationCooperationCross-border cooperation
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2025-04-04•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) warned it does not offer fast-track or preferential regulatory treatment at the Astana International Financial Centre. AFSA emphasized that all applications are independently assessed based on established procedures, and claims of influence or expedited approvals for payment are fraudulent. Applicants should verify service providers through AFSA's Public Register and report suspicious activities via its online complaint channels.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-04•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan is reviewing 14 applications for its special regulatory regime to test innovative financial products, including virtual assets and payment services. The sandbox allows testing under limited parameters and Central Bank supervision. Successful products may be implemented in financial markets with a supporting regulatory framework.
SupervisionInnovation & testingRegulatory sandbox
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2025-04-04•Albania•Albania Financial Services Authority
The Albania Financial Services Authority announced its Board meeting agenda for 11 April 2025, focusing on a draft decision to amend the statute of Sigal UGA JSC and approve a new shareholder's influential participation. This is the only decision item on the agenda.
SupervisionAuthorisations & approvalsCorporate governance
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2025-04-04•Montenegro•Central Bank of Montenegro
Oesterreichische Nationalbank Governor Robert Holzmann lectured at the University of Montenegro on economic convergence with the EU, emphasizing EU accession, institutional stability, and central bank independence. He noted Montenegro's strong economic growth but highlighted incomplete convergence due to a significant income gap with the Eurozone. Holzmann encouraged Montenegro to pursue EU membership swiftly, citing substantial benefits from EU integration.
OtherMonetary policy decisions and developments
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2025-04-04•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario revoked Harold the Mortgage Closer Inc.'s brokerage licence and refused to renew Harold Gerstel's broker licence, imposing CAD 70,000 in penalties. The Financial Services Tribunal found Gerstel unsuitable due to non-cooperation and false information, violating the Mortgage Brokerages, Lenders and Administrators Act, 2006. A second Notice of Proposal concerning Gerstel remains under Tribunal review.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-04•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario appointed four new members to its Consumer Advisory Panel, which offers consumer insights for policy development. The new appointees, serving two-year terms, are Samuel Lichtman, Karina Souza, Edwin Weinstein, and Liisa Woolley. The authority also recognized the contributions of the outgoing panel members.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-04-04•Croatia•Croatian Financial Services Supervisory Agency
At the "Support to Sustainable Finance" conference in Zagreb, Croatian Financial Services Supervisory Agency Board President Ante Žigman emphasized regulation supporting sustainable market development, balancing oversight and innovation. He highlighted the European Commission’s Omnibus package to simplify sustainability reporting and reduce SMEs' administrative burdens. Žigman stressed clear transparency and participation policy requirements under the Sustainable Finance Disclosure Regulation to enhance accountability.
SupervisionSupervision approach, priorities & toolkitClimate risk and sustainable finance
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2025-04-04•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has urged bondholders of seven East Coast Furnitech Public Company Limited bond series to review information and exercise their rights at an electronic meeting on 9 April 2025. The issuer seeks approvals for debt repayment changes, restructuring, maturity extensions, and increased coupon rates. Bondholders are advised to assess the proposals' impacts and seek comprehensive information before voting.
Policy & regulationGuidance & interpretationCorporate governance
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2025-04-04•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Republicans on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, urged FHFA Director Bill Pulte to address waste, fraud, abuse, and inefficiencies within the agency. The letter highlighted issues like a multimillion-dollar payment by the Federal Home Loan Bank of San Francisco and low office attendance at Fannie Mae. The committee expressed readiness to assist in overcoming statutory obstacles impacting the housing finance system.
Policy & regulationOther
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2025-04-04•Tanzania•Bank of Tanzania
The Bank of Tanzania clarified that only the TZS 10,000 and TZS 5,000 banknotes from the 2003 issue are being withdrawn, not the similar-looking 2010 issue notes, which remain valid. The exchange for the 2003 notes began on 6 January 2025 and ends on 5 April 2025, after which they will cease to be legal tender.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-04-04•Sweden•Finansinspektionen
Finansinspektionen has initiated a consultation to repeal its regulations and guidelines for firms engaged in certain consumer credit business, contingent on the government's proposal to repeal the Act on certain consumer credit business (LVK) effective 1 July 2025. The proposal includes transitional arrangements for firms with existing LVK authorisations and amendments to rules on ownership and management assessments in financial undertakings.
Policy & regulationRules & requirementsLicensing framework and process
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2025-04-04•United States•U.S. Financial Services Committee
The U.S. House Committees on Financial Services and Agriculture released a "Blueprint for Digital Assets in America," outlining six principles for federal legislation on digital asset classification and regulation. It aims to promote innovation, distinguish securities from non-securities, and establish an issuance regime under the Securities and Exchange Commission with retail investor protections. It includes proposals for regulating spot market exchanges, customer-asset safeguards, and expanded Commodity Futures Trading Commission authority, while avoiding centralized regulatory models for decentralized protocols.
Policy & regulationReform agendas & priorities
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2025-04-04•United States•U.S. Financial Services Committee
U.S. House Committee chairs on Financial Services and Agriculture outlined six principles for federal digital asset market legislation in a CoinDesk op-ed. These principles aim to clarify regulation, promote innovation, and assign oversight, including classifying digital assets, regulating exchanges, and protecting customer funds. They propose giving the Commodity Futures Trading Commission authority over non-security digital assets and ensuring decentralized protocols aren't treated as centralized custodians.
Policy & regulationReform agendas & priorities
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2025-04-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam has appointed Ms. Hoang Thi Phuong Hanh as Acting Director General of the International Cooperation Department, effective 3 April 2025. This interim assignment will continue until a permanent Director General is appointed.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) reviewed the initial operations of its new Regional Branch 7, formed by consolidating provincial branches, to provide supervisory and operational guidance. Deputy Governor Phạm Quang Dũng emphasized the need for the branch to finalize internal processes, enhance IT systems, and strengthen supervision of local credit institutions. SBV reiterated expectations for credit institutions to align with government and SBV directives on monetary and credit measures.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-04-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam (SBV) inaugurated SBV Region 7 in Thanh Hoa, overseeing Nam Dinh, Ha Nam, Ninh Binh, and Thanh Hoa, and held a conference to boost bank credit for regional economic growth. Deputy Governor Pham Quang Dung urged credit institutions to expand lending safely, focusing on production, business activities, and priority sectors while controlling high-risk lending. SBV Region 7 reported over VND 561 trillion in outstanding loans at end-March 2025, with agriculture, industry, and services sectors showing varied performance amid a national credit growth target of 16% for 2025.
Institutional developmentMandate & organizational structureLending
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2025-04-04•Vietnam•State Bank of Vietnam
The State Bank of Vietnam held a conference to boost bank credit for economic growth in Region 8, announcing the launch of its Regional Branch 8. Credit outstanding reached VND 535.688 trillion by end-February 2025, with measures to refine credit policies, stabilize money markets, and expand preferential credit programs. The Deputy Governor emphasized balancing funding, tightening controls on high-risk lending, and simplifying loan processes without loosening credit conditions.
Institutional developmentMandate & organizational structureLending
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2025-04-04•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway reported a 5.1% increase in debt collection cases, totaling 6,510,614 at the end of 2024. The total claims value reached NOK 129.5 billion, marking a 1.4% inflation-adjusted rise from 2023.
Data & statisticsSupervisory data
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2025-04-04•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released a list of state nonmember banks evaluated for Community Reinvestment Act (CRA) compliance, detailing ratings assigned in January 2025. The CRA mandates the FDIC to assess banks' efforts in meeting community credit needs, including those of low- and moderate-income areas, while ensuring safe operations. Public disclosure of these evaluations is required under the Financial Institutions Reform, Recovery, and Enforcement Act.
SupervisionReviews, inspections & stress testsCompliance
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2025-04-04•Norway•Norwegian Finanstilsynet
Norwegian Finanstilsynet's inspection report on Gran Oppgjør AS revealed significant weaknesses in calculating and paying interest on client accounts, and controlling the "interest buffer." The firm breached Real Estate Brokerage Regulations by failing to ensure clients received entitled interest, and deficiencies in anti-money laundering controls and settlement processes were identified. Gran Oppgjør AS ceased its real estate brokerage activities on 4 March 2025.
SupervisionReviews, inspections & stress testsClient asset custody and safekeeping
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2025-04-04•Albania•Bank of Albania
The Bank of Albania has implemented the ISO 20022 standard for cross-border payments and financial reporting, joining SWIFT's Cross-Border and Reporting Plus community. Albania is the first in its region to adopt this standard, ahead of the global deadline of November 2025. The initiative aims to enhance payment data exchange, transparency, safety, and efficiency.
Policy & regulationImplementation, projects & pilotsCross-border paymentsPayments and payment systems
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2025-04-04•Chile•Chile Financial Market Commission
The Chile Financial Market Commission will launch "CMF Supervisa," a new online communication channel for supervised entities, on 1 May 2025, replacing the current Online Information Submission System and Extranet. Created under General Rule No. 515, it will be the mandatory route for submitting information as required by laws and regulations. An introductory webinar will be held on 15 April 2025 to assist with onboarding.
SupervisionRegulatory reportingOperational excellence
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2025-04-04•United States•Federal Reserve Board
The Federal Reserve Board has terminated the cease and desist order against Lori H. Staples, a former employee of The Marathon Bank, originally issued on May 28, 2003. The termination is effective as of April 4, 2025.
EnforcementInvestigations & enforcement actionsOther
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2025-04-04•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission's Market Participants Division issued a no-action letter regarding the pre-trade mid-market mark requirement in Regulation 23.431 for swap dealers and major swap participants. This relief, not limited to specific swap types, mirrors previous no-action positions due to limited informational value and operational challenges. The CFTC first provided such relief in 2012.
EnforcementInvestigations & enforcement actionsMarket infrastructure
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2025-04-04•United States•U.S. Securities & Exchange Commission
SEC Commissioner Caroline A. Crenshaw criticized a Division of Corporation Finance staff statement that certain stablecoins are not securities, citing legal and factual errors. She noted most USD-stablecoins are obtained through intermediaries, not directly from issuers, undermining the staff's reliance on issuer risk-reducing features. Crenshaw also questioned the adequacy of reserves and "proof of reserves" reports, arguing they do not sufficiently protect retail holders from insolvency risk.
Policy & regulationGuidance & interpretation
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2025-04-04•United States•U.S. Securities & Exchange Commission
The SEC’s Division of Corporation Finance clarified that certain USD-referenced stablecoins, termed “Covered Stablecoins,” are not securities under the Securities Act of 1933 or the Securities Exchange Act of 1934. These stablecoins maintain a one-for-one value against the U.S. dollar, backed by low-risk, liquid assets, and are intended for payments or storing value without offering interest or profit rights. The statement reflects staff views only and does not apply to other stablecoin structures or yield-bearing stablecoins.
Policy & regulationGuidance & interpretationStablecoins
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2025-04-04•Thailand•Bank of Thailand
The Bank of Thailand, in collaboration with AIS, has launched a cybersecurity awareness initiative to enhance public protection against online scams and cyber threats. The program includes educational content on safe digital practices, with a focus on student-led community outreach through the "CU TU Cyberguard" project. This initiative is supported by the Cyber Crime Investigation Bureau and the National Cyber Security Agency.
Financial literacy & educationCyber resilienceFinancial literacy and education
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2025-04-04•Moldova•National Bank of Moldova
The National Bank of Moldova's First Deputy Governor Petru Rotaru emphasized accountants' and auditors' critical role in financial information quality and economic stability at a recent conference. Rotaru highlighted the need for practitioners to understand company realities and the national economic context, adapting to legislative changes. Despite digitalization, he stressed the importance of human expertise and integrity in financial management and decision-making.
Financial literacy & educationAccounting and financial reporting
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2025-04-04•Asia•Asia/Pacific Group on Money Laundering (APG)
The Asia/Pacific Group on Money Laundering’s April PACD newsletter provides an update on recent technical assistance and training work in the Pacific. It highlights participation in the 2025 Financial Action Task Force Private Sector Consultative Forum, reports on SIP visits to Papua New Guinea, Nauru and the Marshall Islands, and notes ongoing and completed projects in the Cook Islands, Fiji and Tonga.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-04-04•Trinidad & Tobago•Central Bank of Trinidad & Tobago
The Central Bank of Trinidad & Tobago issued financial literacy guidance emphasizing budgeting to help individuals manage expenses, increase savings, and avoid debt. The guidance promotes the 50/30/20 budgeting rule, allocating 50% of income to needs, 30% to wants, and 20% to savings, as part of Financial Literacy Month in April.
Financial literacy & educationFinancial literacy and education
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2025-04-04•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas emphasized financial literacy as essential for financial inclusion and safe system participation at its 2025 Get Money Smart Financial Literacy Seminar. Governor John A Rolle highlighted the economic benefits of improved budgeting and saving, linking them to investment growth and reduced government dependency. The speech also stressed the importance of digitisation for equitable access and safe digital operations.
Financial literacy & educationFinancial literacy and education
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2025-04-03•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic clarified Monetary Board prudential measures to tighten controls on foreign-currency credit and foreign-exchange risk. Changes include revised foreign-currency lending rules, increased risk weights for loans to non-generators, and adjusted net foreign-currency position limits. The measures also index minimum capital for exchange agents and mandate mark-to-market presentation in financial statements from January 2026.
Policy & regulationRules & requirementsCapital adequacyPrudential risks
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2025-04-03•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority (IA) warned about fraudulent payment requests falsely claiming to be from the IA, following an enquiry about a suspicious invoice titled “Insurance Authority Certificate.” The IA clarified it does not issue such invoices or insurance policies and has reported the matter to the Hong Kong Police Force. The public is advised to verify suspicious requests through the IA's hotline and report scams to the police.
SupervisionAlertsFraud and scams
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2025-04-03•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendence of the Securities Market (SMV) announced the Ministry of Economy and Finance's approval of an investment project for a new SMV headquarters under the Works for Taxes framework. The PEN 91.63 million project includes a 15,776.50 m2 building in Miraflores, Lima, aiming to enhance SMV's services. ProInversión will provide technical assistance for pre-procurement and contractor selection, with the SMV Superintendent authorized to sign the agreement.
Policy & regulationImplementation, projects & pilotsOther
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2025-04-03•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg and STATEC reported a provisional 2024 current account surplus of EUR 11.8 billion, up EUR 2.8 billion from 2023. The goods balance shifted to a EUR 1.5 billion surplus, driven by a 3% rise in exports and a 1% fall in imports. In the financial account, Luxembourg saw positive direct investment and significant net inflows in equities and debt securities.
Data & statisticsBalance of payments and other external statistics
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2025-04-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released a consultation paper on draft Regulatory Technical Standards under the Market in Financial Instruments Regulation Review. It seeks input on derivatives transparency requirements, amendments to package orders, and specifications for over-the-counter derivatives consolidated tape data. Key proposals include a new deferral regime for exchange traded and OTC derivatives, changes to pre-trade waivers, and data quality requirements for consolidated tape providers.
Policy & regulationRules & requirementsRegulatory reporting
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2025-04-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has initiated a consultation on revising the format for insider lists under the Market Abuse Regulation, following the EU Listing Act amendments. The proposed changes aim to extend the simplified format used by issuers on SME Growth Markets to all issuers, reducing the administrative burden.
Policy & regulationRules & requirementsMarket abuse
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2025-04-03•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo released external sector statistics for Q4 2024 and balance of payments data for January 2025. International investment position assets increased by EUR 156.86m and liabilities by EUR 459.03m in Q4 2024, with gross external debt reaching EUR 4.23bn. January 2025 saw a current account deficit of EUR 21.36m, driven by a goods trade deficit of EUR 379.26m, offset by surpluses in services, primary income, and secondary income.
Data & statisticsBalance of payments and other external statistics
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2025-04-03•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia has revised its Regulation for the Administration of International Reserves, effective 25 March 2025, to enhance investment, management, and hedging capabilities. These changes are based on Article 16 of Law No. 1670, governing reserve management and security. Additionally, under Law No. 1503, the bank will report to the Plurinational Legislative Assembly every four months on gold reserve operations.
Policy & regulationRules & requirementsOther
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2025-04-03•Australia•Australian Securities & Investments Commission
ASIC warned of scammers impersonating it via texts labeled "ASIC" to steal information. ASIC clarified it doesn't use such texts for personal or financial requests and advised deleting them. Users should verify senders, avoid links, enable multi-factor authentication, and report suspicious messages. The Australian Communications and Media Authority plans an SMS Sender ID Register by December 2025 to prevent impersonations.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority released provisional investment return data for MPF funds as of March 2025, detailing average net returns by fund type and long-term performance. Equity Fund and Mixed Asset Fund, comprising nearly 80% of MPF assets, reported average net returns of 16.1% and 6.4% over the past year. The Authority emphasized the long-term nature of MPF investments and advised members to consider objectives, risk tolerance, and performance across different time horizons.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Europe•European Systemic Risk Board
The European Systemic Risk Board (ESRB) reviewed the European Commission's Savings and Investments Union priorities, noting elevated EU financial stability risks due to political uncertainty and geopolitical tensions. The Board emphasized the need for swift EU action and robust regulation to enhance financial system resilience, while highlighting potential risks from trade restrictions. It also discussed financing for increased EU and Member State security needs, suggesting a European safe asset as potential support for defense funding.
Policy & regulationGuidance & interpretationFinancial stability and systemic risk
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2025-04-03•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE has revoked the licence of Dynamics Insurance Brokers under Article 22(2) of the Insurance Authority Board of Directors Resolution No. 15 of 2013. This action follows an examination revealing non-compliance with the Central Bank’s licensing terms and regulatory requirements.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-03•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank's study on rising energy prices, power grid costs, and carbon taxation shows higher energy prices most affect output, estimating reductions of 8% in chemicals and 9% in basic metals. Paper production benefits slightly due to energy efficiency and surplus allowances under the European Emissions Trading Scheme. Firms' ability to pass through costs depends on policy alignment across Europe, with national policy changes potentially impacting output more than EU-level adjustments.
ResearchClimate risk and sustainable finance
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2025-04-03•West Africa•Central Bank of West African States
The Central Bank of West African States adopted a regional financial inclusion policy for 2025–2030 and was designated as the macroprudential authority for the West African Monetary Union. The Council of Ministers noted Union growth of 6.2% in 2024, inflation easing to 2.9% in Q4 2024, and a fiscal deficit of 5.1% of GDP at year-end. They approved the Central Bank’s 2024 accounts, the West African Development Bank’s annual accounts, and encouraged finalizing a draft act on a convergence, stability, growth, and solidarity pact.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskMarket development
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2025-04-03•West Africa•Central Bank of West African States
The Central Bank of West African States has revoked the temporary supervisory derogation allowing credit institutions to treat Niger government securities as performing assets. These securities will now receive the same accounting and prudential treatment as those from other West African Monetary Union member states. The derogation, initiated in January 2024 to maintain financial stability, is deemed unnecessary due to the normalization of Niger's financial market operations.
SupervisionInterventionsAccounting and financial reporting
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2025-04-03•Peru•Central Bank of Peru
The Central Bank of Peru reported a 3.2% year-on-year increase in metallic mining production for January 2025, driven by higher copper and molybdenum output. Copper production rose 7.3% due to increased extraction and a rebound at key mines, while molybdenum surged 24.0% on improved processing and ore grades. However, declines were noted in gold, zinc, and lead production.
Data & statisticsEconomic data and developments
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2025-04-03•Morocco•Moroccan Insurance Authority (ACAPS)
The Moroccan Insurance Authority (ACAPS) has launched the Emergence Program to foster collaboration among insurance market participants for digital transformation and innovative use cases. The initiative includes strategic discussions, international expert input, and prototype development supported by technology experts. Workshops will be conducted by ACAPS’ Innovation & Insurtech Unit.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-04-03•Ireland•Central Bank of Ireland
The Central Bank of Ireland's Deputy Governor Mary-Elizabeth McMunn discussed regulatory adaptation, emphasizing resilience amid short-term shocks and long-term shifts. She noted increasing complexity and digitalization in sectors under the Bank's supervision and the adoption of an integrated supervisory approach. McMunn supported EU regulatory simplification but cautioned against lowering standards or reducing necessary information.
SupervisionSupervision approach, priorities & toolkitRegulatory burden
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2025-04-03•Europe•European Banking Authority
The European Banking Authority released reports on EU subsidiaries of third-country banking groups and EU/EEA banks' foreign currency assets, liabilities, and funding. As of December 2023, non-EU bank subsidiaries held 10.17% of EU assets, with significant involvement in derivatives, while EU/EEA banks had nearly 30% of exposures and 21% of funding in foreign currencies. The reports highlight the substantial role of the US dollar in foreign currency funding and note that unsecured wholesale funding constitutes the majority.
ResearchFinancial and market indicatorsSupervisory data
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2025-04-03•Peru•Central Bank of Peru
The Central Bank of Peru reported that total credit to the private sector grew 7.2% year on year in January 2026, marking the ninth consecutive month of acceleration. Outstanding balances increased 0.2% from December 2025 to PEN 437,785 million. Household credit rose 6.8% year on year, while credit to firms increased 7.4%.
Data & statisticsLending
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2025-04-03•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has released the Quarterly Financial Return templates for Insurance Groups and commercial insurers for Q1 2025, adding a reporting requirement for catastrophe monitoring. Insurers must report their exposure to the 2025 California Wildfire events using the latest loss estimates in the 'Catastrophe Exposure' tab. Firms that submitted preliminary estimates in the recent data call must update these in their quarterly filings.
SupervisionRegulatory reporting
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2025-04-03•Lithuania•Bank of Lithuania
The Bank of Lithuania proposed a payments market strategy through 2030, emphasizing security, accessibility, and innovation to enhance consumer choice and protection. It highlights electronic and instant payment growth, addresses fraud risks, and suggests measures for service accessibility and consumer mobility. It also promotes European payment schemes and infrastructure to foster innovation.
Policy & regulationReform agendas & prioritiesPayments and payment systems
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2025-04-03•Portugal•Bank of Portugal
The Bank of Portugal announced that the Polícia Judiciária is conducting a search at its premises and confirmed its full cooperation with the authorities.
EnforcementInvestigations & enforcement actions
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2025-04-03•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority released guidance for financial advisers on determining direct financial loss in upheld complaints, emphasizing two counterfactual methods: a "no-transaction" approach for unsuitable recommendations and an "estimate" approach based on the client's risk profile and market benchmarks. A pure capital loss approach is rarely used, primarily when the client's alternative investment cannot be determined.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
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2025-04-03•Australia•Australian Financial Complaints Authority
The Australian Financial Complaints Authority (AFCA) announced the expulsion of six members, including United Global Capital Pty Ltd, effective 31 May 2025, due to non-compliance with section 3.4(a) of the AFCA Constitution. AFCA emphasized that membership ensures compliance with legal obligations for financial firms and encouraged expelled members still legally required to be members to seek reinstatement.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
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2025-04-03•Sweden•Riksbank
Riksbank Governor Erik Thedéen stressed the need for stronger EU capital markets to support investment and digital and green transitions. He cited geopolitical developments and increased defense spending as reasons for action, endorsing the European Commission's initiatives. Thedéen advocated a pragmatic, long-term approach combining pan-European and local solutions, citing Nordic-Baltic cooperation as a model.
Policy & regulationReform agendas & prioritiesMarket developmentFinancial stability and systemic risk
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2025-04-03•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and AFP concluded the 26th edition of its Extension Programme (PEXT), aimed at attracting talent and training future financial system supervisors. Since 1998, over 990 graduates have completed the programme, which reported gender parity and included participants from various Latin American countries. Curriculum enhancements featured courses from the University of Cambridge and the U.S. Federal Reserve, focusing on fintech, insurtech, suptech, and managing troubled financial institutions.
Institutional developmentCooperation & capacity buildingOther
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2025-04-03•Zimbabwe•Zimbabwe Insurance and Pensions Commission
Finance Minister Mthuli Ncube toured the Zimbabwe Insurance and Pensions Commission's new offices in Harare, commending the Commission for securing a dedicated building. He emphasized IPEC's role in regulating non-banking financial services and highlighted initiatives like developing Mortality Tables and the Farmer’s Basket parametric insurance programme. The Minister noted macroeconomic challenges impacting the industry and stated that the Government is addressing these issues.
Institutional developmentOtherOrganizational structure
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2025-04-03•France•Bank of France
The Bank of France updated the French Financial Sector Consultative Committee's report on the 2022 "API" law's impact on sole proprietors, focusing on banking access, asset separation, and financial distress. The report highlights legal uncertainties in asset separation and suggests clarifying insolvency procedures. It notes stable EI-bank relationships, EUR 28.9bn in outstanding credit to EIs, and proposes measures to enhance data, training, credit access, and support for entrepreneurs in difficulty.
Policy & regulationReform agendas & prioritiesOther
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2025-04-03•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority (APRA) accepted a Court Enforceable Undertaking from ANZ to address non-financial risk management deficiencies. APRA increased ANZ's capital add-on to AUD 1 billion. ANZ must appoint an independent reviewer for a remediation plan, with written attestations from key personnel. This follows concerns over operational risk and compliance. The capital add-on remains until APRA is satisfied.
EnforcementInvestigations & enforcement actionsOperational risk and resiliencePrudential risks
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2025-04-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan issued guidance on voluntary property insurance for natural disasters, detailing contract agreements and claims processes. The guidance includes data from the 2024 floods, where insurers received 166 claims and paid KZT 709.6 million in compensation, with the highest claims from Atyrau, Aktobe, and North Kazakhstan regions.
Policy & regulationGuidance & interpretationNature-related risk
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2025-04-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan amended the Code of Administrative Offences to increase fines for collection agencies violating debtor interaction requirements. Fines now range from 200 to 600 monthly calculation indices (AEK) based on business size, with additional penalties for unfair actions by employees set at 30 AEK. These amendments were enacted on 13 March 2025.
Policy & regulationRules & requirementsOther
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2025-04-03•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia and the European Investment Bank hosted a conference on investment conditions and growth prospects for Slovenia and Europe, addressing productivity growth, Slovenia-specific challenges, and investment barriers in technology, infrastructure, and energy. Keynotes included insights from the EIB Investment Report and a survey on enterprise finance access. The event featured a roundtable with representatives from economic and financial institutions.
Policy & regulationCooperationMarket development
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2025-04-03•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's Governing Council has set the 2025 annual contributions for branches of credit institutions from third countries to the Bank Resolution Fund at BGN 130,400. This decision is in accordance with the Law on Recovery and Resolution of Credit Institutions and Investment Firms and National Bank of Bulgaria Ordinance No. 41.
Policy & regulationRules & requirementsRecovery and resolution
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not request sensitive personal information via SMS, email, or embedded hyperlinks. Customers who have interacted with these fraudulent sites are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding a fraudulent website and internet banking login screen related to Dah Sing Bank, Limited. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact Dah Sing Bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens associated with Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords. Affected individuals are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a freeze on fixed pay for staff from April 2025, with variable pay based on 2024 performance. Staff meeting or exceeding performance targets will receive a one-off payment equivalent to 19.93% of total pay. The decision, based on the Governance Sub-Committee's review, was approved by the Financial Secretary.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to 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
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2025-04-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen reported by HSBC. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact HSBC and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-03•India•Reserve Bank of India
The Reserve Bank of India issued a circular to Authorised Dealer Category-I banks detailing Foreign Portfolio Investor (FPI) limits for Indian debt instruments for the financial year 2025-26. The percentage caps on FPI holdings remain unchanged, with absolute limits set at INR 13,82,989 crore for April–September 2025 and INR 14,70,654 crore for October 2025–March 2026. The aggregate notional amount for credit default swaps sold by FPIs is capped at 5% of outstanding corporate bonds, with an additional limit of INR 2,93,612 crore for 2025-26.
Policy & regulationRules & requirementsCross-border payments
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2025-04-03•Europe•European Central Bank
ECB Vice-President Luis de Guindos noted high macro-financial uncertainty complicates monetary policy and financial stability. The ECB cut interest rates by 25 basis points in March, with the deposit facility rate at 2.5%, maintaining a data-dependent approach due to uncertain inflation. He highlighted banks' strong solvency and liquidity but warned of vulnerabilities from market valuations, non-bank financial intermediaries, and rising sovereign indebtedness.
Monetary policyMonetary policy assessments & outlooksRisk analysis and outlookFinancial stability and systemic risk
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2025-04-03•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and an International Monetary Fund delegation discussed priorities under the Policy Coordination Instrument programme, focusing on financial market development, insurance system reform, and banking digitisation. Key topics included new reporting standards for the insurance market and expanding non-cash payments.
Policy & regulationCooperationOther
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2025-04-03•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the International Monetary Fund discussed the ongoing implementation of the Policy Coordination Instrument (PCI) and broader cooperation areas. Key topics included macroeconomic conditions, banking system status, monetary policy, and financial sector stability. The PCI focuses on priority reforms for sustainable economic development and foreign investment attraction.
Policy & regulationCooperationFinancial stability and systemic riskMacroprudential policy and tools
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2025-04-03•Liberia•Central Bank of Liberia
The Central Bank of Liberia’s 2024 Annual Report says Liberia’s economy grew 4.8 percent and average inflation fell to 8.3 percent, while the current account shifted to a 14.2 percent of GDP surplus. It says the banking sector remained stable, with strong capital and liquidity ratios, but nonperforming loans stayed high at 19.7 percent. The report also highlights continued growth in digital payments and internal governance reforms tied to audit recommendations.
ResearchActivity and performance reporting
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2025-04-03•Spain•Bank of Spain
The Bank of Spain's Q4 2024 supervisory statistics show improved capital and leverage metrics for Spanish credit institutions. Liquidity coverage declined but stayed above the regulatory minimum, and asset quality indicators improved with high profitability despite a slight quarterly decrease. The Common Equity Tier 1 (CET1) ratio rose to 13.51%, and the aggregate leverage ratio increased to 5.73%.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued a memorandum detailing reserve requirement computations for banks and non-banks during the 2025 Holy Week. Maundy Thursday and Good Friday are designated as non-reserve days, with the reserve position from Holy Wednesday carried over to Easter Sunday. The two reserve weeks will be treated as one for assessing potential abuse of offsetting reserve deficiencies.
Policy & regulationGuidance & interpretationLiquidity risk
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2025-04-03•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Dominican Republic Superintendency of Banks reported a 12.5% year-on-year increase in the total loan portfolio, reaching DOP 2.18 trillion by the end of 2024. The report highlights a headline delinquency ratio of 1.6% and a stressed delinquency indicator of 7.12%. Notable growth areas include construction, consumption, and mortgage credit, with private commercial credit rising by 11.4% to DOP 1.14 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-04-03•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission requires two individuals to pay a VND 1,000,000 fee for a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to collect the certificate within one year of the fee notice will result in cancellation.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-04-03•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission issued Notice 19/TB-UBCK requiring individuals on a specified list to pay VND 1,000,000 for a securities practice certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer to VietinBank or Vietcombank, or directly at the Commission, with specific transfer details required. Failure to complete the certificate process within one year will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-04-03•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has ordered Eike Fuhrken Batista and associated entities to halt offering securities to Brazilian residents, following an online promotion of digital-asset investments deemed securities. The stop-order, under Deliberation CVM 898, extends to partners and agents, with non-compliance risking a daily fine of BRL 100,000.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-04-03•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) issued Joint Circular Letter CVM/SSE/SNC 1/2025, clarifying income distribution policies for Investment Funds in Agribusiness Production Chains (FIAGRO). It specifies that Article 10 of Law 8.668 does not apply to FIAGRO, and distributions must not exceed annual and accumulated profits. Adjustments to fund regulations should align with Annex VI of CVM Resolution 175.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-04-03•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore stated that Singapore's foreign exchange and money markets are functioning normally. It is monitoring developments and is prepared to curb excessive volatility in the Singapore dollar to maintain orderly market conditions.
Monetary policyMonetary policy assessments & outlooksMarket risk and volatility
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2025-04-03•Serbia•National Bank of Serbia
The National Bank of Serbia clarified that the Pension and Disability Insurance Fund's account for pension payments was exempt from forced collection and operated without interruption despite reports of a two-day block. The temporarily blocked account was used for other transactions, and discrepancies did not affect pension payments. The bank noted delays in receiving account balance information from the Treasury Administration, impacting enforced collection orders.
Policy & regulationGuidance & interpretationOther
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2025-04-03•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has expanded its Agent Registration Tool so that, from April 3, 2025, mutual funds, investment funds and book-entry shares issued by publicly held companies must be registered exclusively through the platform. The tool had already been extended to several debt instruments and continues to operate without changing existing regulatory requirements.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-04-03•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said Insurance Superintendent Adriana Jazmín Bernal Lugo was elected to the ASSAL board for 2025-2027. The appointment places Paraguay on the association’s governing body and makes her the first Paraguayan woman to hold a seat on it.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Switzerland•Swiss National Bank
The Swiss National Bank has announced John H. Cochrane as the speaker for its 2025 Karl Brunner Distinguished Lecture Series, where he will discuss the impact of fiscal policy on post-pandemic global inflation. Cochrane, a Senior Fellow at the Hoover Institution, specializes in the interaction between financial markets and the macroeconomy.
Financial literacy & educationMonetary policy decisions and developments
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2025-04-03•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and the Financial Conduct Authority are consulting on raising the de minimis threshold for the mortgage Loan to Income flow limit from GBP 100 million to GBP 150 million, following a Financial Policy Committee recommendation. This change would allow smaller lenders to increase residential mortgage lending before being subject to the LTI flow limit. The proposal involves amendments to the PRA Rulebook and revisions to the FCA’s guidance.
Policy & regulationRules & requirementsLending
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2025-04-03•United Kingdom•Prudential Regulation Authority
The Prudential Regulation Authority and the Financial Conduct Authority have finalized amendments to increase the de minimis threshold for the mortgage Loan to Income flow limit from GBP 100 million to GBP 150 million annually. This change affects lenders extending residential mortgages above this value, with the number of exempt lenders expected to rise from 70 to 80. The amendments will be effective from 11 July 2025.
Policy & regulationRules & requirementsLending
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2025-04-03•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has integrated its "SEC Check First" tool into the Cyber Crime Investigation Bureau's "Cyber Check" application, effective 3 April 2025. This integration facilitates investor verification of licensed individuals, firms, and products in capital and digital asset markets. Cyber Check also verifies phone numbers, bank accounts, and online identifiers, categorizing results by legal action history and identity verification.
Policy & regulationImplementation, projects & pilotsLicence approval
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2025-04-03•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs advanced the nominations of Paul Atkins for SEC Chair, Jonathan Gould for Comptroller of the Currency, Luke Pettit for Assistant Secretary of the Treasury for Financial Institutions, and Marcus Molinaro for Federal Transit Administrator. Chairman Tim Scott emphasized Atkins' focus on capital formation and digital asset regulation, Gould's commitment to ending "politically motivated debanking," Pettit's reform agenda, and Molinaro's relevant experience.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-03•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission issued a warning that Trade Hive Hub, operating from New York and possibly using the name Tr@de Hive Hub, is not registered to deal in or advise on securities in New Brunswick. Investors are advised to verify registration through the National Registration Search tool.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-04-03•Vietnam•State Bank of Vietnam
The State Bank of Vietnam's Region 2 office, formerly the Ho Chi Minh City branch, issued a notice to local authorities and business associations to coordinate on business support measures and access to public administrative services following its rebranding. Region 2 manages monetary, banking, and foreign exchange activities, and supports credit access through stabilized deposit and reduced lending rates. It will continue the 2025 bank–business connection programme and oversee public services in foreign exchange and gold domains.
Policy & regulationCooperationOrganizational structure