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2025-04-02•Albania•Bank of Albania
The Bank of Albania's Supervisory Council approved the Financial Stability Statement and Report for H2 2024, noting sustainable banking activity with contained risks. The report highlights expanded deposits and lending, improved profitability, and resilient capitalisation, while urging banks to enhance risk management. All banks met the intermediate MREL target of 18.2% by end-2024, with a capacity of 22.9%, aiming for a final target of 24.9% by 2027.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic risk
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2025-04-02•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission appointed Rahul Varma as Acting Director of its Division of Market Oversight. Varma has been with the CFTC since 2013, contributing to market surveillance and the establishment of the Market Intelligence Branch.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-02•Canada•British Columbia Financial Services Authority
The British Columbia Financial Services Authority (BCFSA) imposed administrative penalties on four real estate licensees for false and misleading advertising under the Real Estate Services Act. Penalties ranged from CAD 4,000 to CAD 6,250 for claims lacking verification, such as unqualified rankings and awards. BCFSA emphasized adherence to its Advertising Guidelines and Consumer Fact Sheet on misleading advertising.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-04-02•Bosnia and Herzegovina•Republic of Srpska Securities Commission
The Securities Commission of the Federation of Bosnia and Herzegovina and the Federal Agency for Confiscated Property Management signed a Memorandum of Mutual Cooperation to enhance coordination on confiscated securities and related enforcement activities. The agreement aims to improve data exchange and operational actions concerning financial investigations and asset management, including securities like shares and bonds, and is tied to Bosnia and Herzegovina's progress towards European Union accession.
SupervisionCooperationCross-border cooperation
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2025-04-02•United States•U.S. Securities & Exchange Commission
The SEC's Office of Investor Education and Advocacy is launching a National Financial Literacy Month campaign in April to promote investing for financial goals and capital formation. The initiative includes free resources on Investor.gov, the "Ten Investment Tips for 2025 Investor Bulletin," and outreach activities targeting diverse groups, including students, older investors, and military service members.
Financial literacy & educationFinancial literacy and education
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2025-04-02•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission and several ministries have revised work safety liability insurance measures, mandating coverage for high-risk sectors and enhancing product terms, pricing, and accident-prevention services. The national minimum liability limit for production safety accidents is raised to CNY 400,000 per person, requiring coverage for all workers, including temporary hires. Insurers must follow standard policy wording and pricing guidelines, with a budget for accident-prevention services capped at 21% of premiums.
Policy & regulationRules & requirementsOther
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2025-04-02•Moldova•National Bank of Moldova
The National Bank of Moldova reported on Governor Anca Dragu’s meeting with France’s ambassador, focusing on macroeconomic issues, bilateral cooperation, and Moldova’s European integration. The update emphasized aligning Moldova’s legislative framework with EU standards and highlighted intensified cooperation with the Banque de France, including technical assistance on cash management and IT infrastructure modernization. France is willing to expand bilateral cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-04-02•United States•Financial Crimes Enforcement Network
FinCEN hosted a public-private partnership event in Washington, D.C., with 16 global financial institutions and federal law enforcement to address Iran's access to the global financial system. Part of the "Iran Maximum Pressure and Counter Terrorism" (IMPACT) Exchange series, it focused on Iran's oil trade and "shadow banking" networks. Discussions aimed to enhance understanding of US sanctions compliance and identify sanctions evasion typologies.
Policy & regulationCooperationAML and CFTFinancial stability and systemic risk
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2025-04-02•Denmark•National Bank of Denmark
The National Bank of Denmark reported a DKK 1.2 billion decrease in the foreign-exchange reserve to DKK 655.9 billion in March 2025, driven by net foreign-exchange sales and government debt repayment. The central government's net financing requirement was DKK -47.4 billion, with banks' net position falling by DKK 40.1 billion due to government liquidity impacts. Policy rates remained unchanged since 7 March 2025, with a balance-sheet total of DKK 749.5 billion.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2025-04-02•United Kingdom•The Pensions Regulator
The Pensions Regulator (TPR) has introduced a new framework to supervise professional trustee firms, enhancing its risk-based regulatory approach to protect pension savers. This follows evidence from 11 major trustee firms, revealing diverse business models and a rise in professional trustees, with 10 firms managing over GBP 1 trillion in retirement income. TPR's Market Oversight team will establish supervisory relationships with these firms, identifying risks in areas such as employer relationships and remuneration models.
SupervisionSupervision approach, priorities & toolkitOther
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2025-04-02•United States•U.S. Department of the Treasury
Treasury Secretary Scott Bessent outlined a renewed "Maximum Pressure" strategy on Iran, focusing on sanctions and public-private information sharing to disrupt sanctions evasion and terrorism financing. The strategy targets Iran's oil supply chain to cut off revenues supporting its nuclear and missile programs and proxies. Additionally, Treasury highlighted efforts against money laundering linked to Mexico-based cartels and human trafficking.
Policy & regulationReform agendas & prioritiesAML and CFTFinancial stability and systemic risk
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2025-04-02•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) hosted a public-private event in Washington, D.C. with financial institutions and federal law enforcement to address Iran's global financial access. The "Iran Maximum Pressure and Counter Terrorism" (IMPACT) Exchange series focuses on Iran's oil and shadow banking networks and U.S. sanctions compliance. This initiative supports National Security Presidential Memorandum-2 and is part of the FinCEN Exchange, established in 2017 and codified in the Anti-Money Laundering Act of 2020.
Policy & regulationCooperationAML and CFTDomestic cooperation
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2025-04-02•Europe•Single Resolution Board
The Single Resolution Board (SRB) has launched a public consultation on its Expectations on Valuation Capabilities, detailing how banks should prepare data for resolution valuation. The initiative emphasizes the importance of valuations in crisis resolution and introduces a Valuation Data Index, Data Repositories for Resolution, and valuation playbooks. The SRB may deviate from these expectations during a crisis, subject to legal frameworks.
Policy & regulationGuidance & interpretationRecovery and resolution
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2025-04-02•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) launched its "Occasional Research Papers" series, with the inaugural paper analyzing European insurers' and banks' fixed-income portfolio allocations. The study identifies "domestic projection bias" and "going native bias" as frictions not explained by traditional factors, impacting efforts to integrate European capital markets. The series combines EIOPA's expertise with external research, utilizing Solvency II and IORP II data.
ResearchAsset qualityMarket development
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2025-04-02•Barbados•Central Bank of Barbados
Deputy Governor Michelle Doyle of the Central Bank of Barbados is participating in the Joint International Monetary Fund and Banco Central del Ecuador Regional Central Bank Governance Forum in Quito, Ecuador, from 2 to 4 April 2025. Doyle will be a panellist in a session on executive management structures and challenges in central banks, discussing regional models and governance challenges with other key figures.
Policy & regulationCooperationCorporate governance
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2025-04-01•Croatia•Croatian National Bank
The Croatian National Bank hosted a Regional Governors’ Meeting in Osijek, focusing on inflation and payment technologies. Discussions included the inflation outlook, efficient payment systems in the EU, and the digital euro project. Governor Boris Vujčić highlighted inflation risks in Croatia and advocated for modernizing payment infrastructure to align with EU standards.
Monetary policyMonetary policy assessments & outlooksCross-border payments
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2025-04-01•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission issued an alert regarding "finfluencers" who disseminate financial content via social media, warning of potential risks due to insufficient quality and neutrality. Investors are advised to verify finfluencer information against official sources and be cautious of unrealistic promises. The Commission emphasizes that finfluencers are not registered securities investment advisers.
SupervisionAlertsConsumer and investor protection
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2025-04-01•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has released its first code package on GitHub to enhance access to its data, including tools for searching and downloading data from public registers. This complements ESMA's interactive dashboards, which use Market in Financial Instruments Directive data to improve data visualization and usability. These initiatives support ESMA's Data Strategy 2023–2028, aiming to provide market information in machine-readable form.
Policy & regulationImplementation, projects & pilotsSupervisory dataRegulatory reporting
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2025-04-01•Hong Kong•Hong Kong Insurance Authority
The Hong Kong Insurance Authority issued a public alert regarding a phishing email and fraudulent website impersonating AIA International Limited to steal personal or payment information. The phishing email originates from "info@ala-hk[.]site" and links to "hxxps://ala-hk[.]site/". AIA confirmed no connection to these and the case is under investigation by the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-01•Panama•Superintendencia de Bancos de Panama
Panama's Superintendency of Banks reported a 7.7% year-on-year growth in the International Banking Center’s net loan portfolio, reaching USD 95,663 million, driven by geographic diversification and improved delinquency indicators. External lending rose 12.3% to USD 33,268 million, while domestic lending increased 5.4% to USD 62,395 million, highlighting the need for risk monitoring. Total assets grew 4.1% to USD 155,707 million, with liquidity and solvency ratios exceeding regulatory minimums.
Data & statisticsAsset qualityCredit risk
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2025-04-01•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority announced board changes with Anne Marie Jess Hansen joining as a new member, replacing Martin Tvede Zachariasen. Hansen, CEO of the CBS Executive Foundation, begins her three-year term on 1 April 2025. Marianne Rørslev Bock and Carsten Nøddebo Rasmussen have been reappointed for additional three-year terms.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-01•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro's Governor Irena Radovic participated in a regional meeting of central bank governors in Osijek, discussing inflation dynamics and payment system modernisation. Radovic noted Montenegro's gradual inflation slowdown, with risks from geopolitical uncertainty and market imbalances, and highlighted efforts in SEPA integration and a TIPS clone project to enhance payment efficiency and financial inclusion.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developmentsPayments and payment systems
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2025-04-01•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro has transitioned to ISO 20022 for international payment transactions, replacing the SWIFT MT messaging format as part of a broader payment system modernization. This change enhances data richness, processing speed, security, and transaction transparency. The bank plans to extend ISO 20022 to domestic transactions to further align with European standards.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-04-01•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority suspended trading in Greenyard’s financial instruments on Euronext Brussels at the company's request from 1 April 2025 at 15:10 CET until a press release is issued.
SupervisionInterventionsTrading
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued a revised master circular on agency commission for banks managing Central and State government business, consolidating instructions up to March 31, 2025. It outlines eligible transactions, operational requirements, and penalties for incorrect claims, with commission rates unchanged since July 1, 2019. The circular specifies reporting protocols for GST, ICEGATE, and direct tax collections, emphasizing timely submissions and penalties for late reporting.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released an updated master circular on the board of directors for primary (urban) co-operative banks, consolidating and updating previous instructions and guidelines. This new circular supersedes the one issued on April 1, 2024, and is directed to the managing directors and CEOs of these banks.
Policy & regulationRules & requirementsCorporate governance
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued an updated master circular on Basel III capital regulations, consolidating prudential guidelines on capital adequacy for scheduled commercial banks, excluding small finance, payments, and regional rural banks. It incorporates Basel III guidelines issued to date, with Annex 26 listing the consolidated circulars. Small finance and payments banks should refer to their specific licensing and operating guidelines for capital adequacy.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular on prudential norms for capital adequacy for all Primary (Urban) Co-operative Banks. This circular consolidates and updates instructions and guidelines up to March 31, 2025, superseding the previous compilation from April 1, 2024.
Policy & regulationRules & requirementsCapital adequacy
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2025-04-01•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's March 2025 Business Outlook Survey indicates a positive shift in business expectations, with the composite business activity expectations index rising to 51.8. Trade showed the most optimism with a sector index of 54.0, while industry and construction also improved. Despite improved expectations, services remained cautious at 48.8, and challenges such as inflation expectations and skilled worker shortages persist.
Data & statisticsEconomic data and developments
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2025-04-01•Angola•Angola Insurance Authority (ARSEG)
The Angola Insurance Authority (ARSEG) has released its 2025–2029 strategic plan under the motto “ARSEG – Credible Supervision, Guaranteed Protection, Safe Angola”.
Policy & regulationReform agendas & prioritiesOther
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2025-04-01•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand will continue with Deputy Governor Christian Hawkesby as Acting Governor and Chief Executive until a new appointment is made under the Reserve Bank Act 2021. The Monetary Policy Committee will operate with six members, and plans are underway to appoint a Governor for a five-year term.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-01•Panama•Panama Superintendencia del Mercado de Valores
Panama’s Superintendency of the Securities Market reminded licensed brokerage houses to pay the first-quarter 2025 supervision fee within April, based on reported trading activity. Payments can be made by certified check or bank transfer, with proof required for receipt issuance. The notice references Law 67 of 2011, Law 66 of 2016, and Agreements 11-2013 and 02-2023.
SupervisionRegulatory reportingLicensing and supervisory fees
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2025-04-01•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia and Bolivia’s National Customs have digitized the Gold Export Certificate process via www.vuce.gob.bo, eliminating in-person procedures. Certificates for various gold forms are issued immediately, while gold mineral concentrate or waste exports require two digital documents and are processed within one business day. From 1 April 2025, certificates issued "subject to exchange" will require an email request to the central bank.
Policy & regulationImplementation, projects & pilotsCross-border cooperation
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2025-04-01•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority issued a circular detailing the information required from obliged entities and the transmission method via its annual questionnaire. This initiative aims to evaluate the compliance and effectiveness of firms' systems in preventing money laundering and terrorist financing as part of its supervisory duties.
SupervisionRegulatory reportingAML and CFT
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2025-04-01•France•France Autorite des marches financiers
France's Financial Markets Authority and the Prudential Supervision and Resolution Authority released a mapping of structured products marketed to retail investors, highlighting significant market growth. The analysis covers debt securities and formula funds from 2021 to 2023, examining inflow dynamics, distribution channels, and product characteristics. Data from 10 banks were used to assess risk levels, performance, and underlying assets.
SupervisionRisk monitoring & watch pointsSales and distribution
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2025-04-01•France•France Autorite des marches financiers
The Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) released a mapping of structured products sold to retail investors in France, highlighting market growth and distribution channels. Gross inflows rose from EUR 23bn in 2021 to nearly EUR 42bn in 2023, with most products sold through life insurance. Despite positive performance, authorities will continue monitoring due to the complexity and capital-loss risks associated with these products.
SupervisionRisk monitoring & watch pointsSales and distribution
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2025-04-01•Israel•Bank of Israel
The Bank of Israel has launched a voluntary financial relief plan, effective 1 April 2025, providing NIS 3 billion in relief and refunds to retail customers, focusing on households and small businesses, through 2027. Participating banks will offer benefits such as improved account remuneration, fee reductions, and credit relief, with implementation monitored by the Bank of Israel.
Policy & regulationImplementation, projects & pilotsFinancial inclusion
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2025-04-01•Israel•Bank of Israel
The Bank of Israel released the Citizens of Israel Fund's annual report, detailing 2024 financial results and strategies for managing state revenues from oil and natural gas profit levies. As of December 31, 2024, the Fund's assets were approximately USD 2,080 million, with a nominal dollar return of 11.5% for the year and an average annual return of 11.7% since inception.
Data & statisticsOther
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued an updated master circular on the Lead Bank Scheme, consolidating guidelines for State and Union Territory Level Bankers’ Committee convenor banks, lead banks, and member institutions. It emphasizes improved credit planning, monitoring, and coordination to support financial inclusion and priority-sector credit delivery, focusing on standardized data flow and enhanced roles for Lead District Managers. The circular addresses low credit-deposit ratios and alternative due-diligence options, noting lead bank responsibilities across 782 districts and SLBC/UTLBC convenorship in 28 States and 8 Union Territories.
Policy & regulationGuidance & interpretationOther
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued an updated master circular for banks on the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission, consolidating operational requirements for SHG account management, credit linkage, and interest subvention for FY 2025-26. Updates include collateral-free lending up to INR 10 lakh, dual authentication for SHG transactions, and specific interest subvention rates for rural women SHGs. Indian Bank is designated as the nodal bank for the interest subvention scheme, with detailed claim procedures outlined for FY 2025-26.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued a Master Circular for scheduled commercial banks on the Self Help Group Bank Linkage Programme, effective until March 31, 2025. It covers SHG savings account opening, credit delivery, and monitoring, emphasizing simplified due diligence and documentation, with lending embedded in various credit plans. Banks have discretion over interest rates and service charges, while ensuring compliance with Master Directions on priority sector lending and credit information reporting.
Policy & regulationGuidance & interpretationFinancial inclusion
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2025-04-01•Spain•Spanish Securities Commission (CNMV)
The Spanish Securities Commission (CNMV) announced that its president, Carlos San Basilio, has been appointed to the Bureau of the OECD Corporate Governance Committee. The committee focuses on enhancing corporate governance policies to support economic efficiency, sustainable growth, and financial stability.
Institutional developmentLeadership change & appointmentsCorporate governance
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2025-04-01•Latvia•Central Bank of Latvia
The Central Bank of Latvia's analysis of the digital euro project highlights its potential to reduce reliance on non-European card schemes and enhance competition in digital payments. The report notes Visa and MasterCard's dominance in Latvia, with high merchant fees and limited local alternatives. A digital euro could offer a free public payment option, improve crisis resilience, and support euro area-wide services, though public sentiment in Latvia shows mixed willingness to adopt.
ResearchCBDC
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2025-04-01•Latvia•Central Bank of Latvia
The Central Bank of Latvia overviewed the Eurosystem’s digital euro project, emphasizing reduced reliance on non-European card providers and enhanced digital payment competition. It aims to offer a free public payment option and counter concentrated card market power, featuring offline functionality and regulated fee caps. Implementation will occur in two-year phases, with the European Central Bank’s Governing Council deciding on continuation, and final issuance contingent on EU regulation approval.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-04-01•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica and the Ministry of Finance have released the updated 2025 Catalogue of Goods and Services (CABYS), supporting economic statistics and tax control. Driven by laws on VAT refunds for school supplies and menstrual hygiene products, it modifies categories and adds new entries. A transition period allows the use of both CABYS 2023 and 2025 codes until 1 June 2025, after which only CABYS 2025 codes will be accepted.
Policy & regulationRules & requirementsOther
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2025-04-01•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica released its 2024 Annual Report, detailing international economic conditions and Costa Rica's macroeconomic performance. The report outlines measures in monetary, foreign exchange, and financial policies, and the national payments system. It also analyzes the bank's financial position and activities, with regulatory provisions issued separately.
Monetary policyMonetary policy assessments & outlooksActivity and performance reportingMonetary policy decisions and developments
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2025-04-01•Italy•Bank of Italy
The Bank of Italy released remarks by Giuseppe Siani, Head of the Banking and Financial Supervision Department, on cyber risk and technological innovation in the financial system. The discussion, part of the Sadibaquarantotto conference, addressed ICT implications and operational resilience of financial intermediaries following the implementation of the Digital Operational Resilience Act (DORA).
Policy & regulationGuidance & interpretationCyber resilienceOperational risk and resilience
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2025-04-01•China•Central Bank of the Republic of China
The People's Bank of China held its 2025 anti-money laundering (AML) work conference, setting six priorities including implementing the revised PRC Anti-Money Laundering Law and enhancing risk-based AML supervision. The 2024 review highlighted progress in transitioning to risk-based supervision, improving beneficial ownership information management, and preparing for the fifth round of international AML evaluation. The 2025 agenda emphasizes refining AML systems, strengthening beneficial ownership mechanisms, and increasing international cooperation.
Policy & regulationReform agendas & prioritiesAML and CFT
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2025-04-01•China•Central Bank of the Republic of China
People's Bank of China Deputy Governor Lu Lei attended the Inter-American Development Bank 2025 Annual Meeting in Santiago, discussing IDB reform and economic conditions in Latin America. He also met with IDB President Ilan Goldfajn to enhance bilateral cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-04-01•Europe•European Banking Authority
The European Banking Authority (EBA) announced its secure information-sharing platform was crucial in the Nordic-Baltic Stability Group's financial crisis simulation. The five-day exercise, involving eight member countries, tested regional collaboration and coordination, with the EBA's platform praised for effectiveness and reliability. This aligns with the EBA's 2024–2026 focus on crisis simulation exercises.
Policy & regulationImplementation, projects & pilotsRecovery and resolution
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2025-04-01•Europe•European Banking Authority
The European Banking Authority's Board of Supervisors has renewed François-Louis Michaud's mandate as Executive Director for a second five-year term, extending his tenure until August 2030. The decision followed an evaluation of his first-term performance and the Authority's future needs. Michaud will continue overseeing the EBA's management, work programme, budget, and staff matters.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-01•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority has released the 2025 annual return templates for insurance managers, brokers, and agents, with minimal changes from previous years. The templates can be accessed on the BMA website.
SupervisionRegulatory reporting
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2025-04-01•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) reported 87% completion of its 2020–2024 strategic plan, with varying implementation rates across strategic lines. Achievements include net recruitment of 50 staff, digital modernisation, and enhanced macroprudential risk monitoring. Ongoing projects include the Integrated Supervision Model, a new Statistics Portal, and a decarbonisation programme slated for completion in 2025.
Institutional developmentTechnology & data transformationOther
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2025-04-01•Greece•Ministry of National Economy and Finance (Greece)
Greece’s Ministry of National Economy and Finance submitted a draft law to Parliament titled “Strengthening the Capital Market and other provisions,” combining capital markets measures with private debt arrears reforms. The bill extends mandatory acceptance of restructuring arrangements to the middle class, increasing eligible debtors from 7% to 85%. It includes tax incentives for investment, changes to Real Estate Investment Companies, and extends the ENFIA property tax exemption for disaster-affected areas.
Policy & regulationRules & requirementsRecovery and resolution
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2025-04-01•Ukraine•National Bank of Ukraine
The National Bank of Ukraine will not extend the UAH 150,000 monthly limit on outgoing transfers between individuals' accounts. This decision aligns with efforts to curb misuse of payment infrastructure, supported by new legislation and an industry memorandum promoting transparency. The NBU continues to enhance transaction monitoring and has submitted a concept note for a register of individuals subject to advanced monitoring to the Verkhovna Rada.
Policy & regulationRules & requirementsPayments and payment systems
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2025-04-01•Portugal•Portuguese Insurance Regulator (ASF)
Portugal's Insurance and Pension Funds Supervisory Authority (ASF) released a user guide for its online platform to compare Portuguese retirement savings plans (PPR). Established under ASF Regulatory Standard No. 11/2024-R, the platform aims to enhance transparency by providing information on fees, returns, and risk indicators for various PPR products. ASF clarifies that the information is not a recommendation and is the responsibility of insurers and pension fund management companies.
Policy & regulationGuidance & interpretationOther
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2025-04-01•Portugal•Bank of Portugal
The Bank of Portugal reported that Maastricht public debt rose by EUR 2.9 billion in February 2025, reaching EUR 277.2 billion, driven by increases in debt securities and savings certificates. General government deposit assets decreased slightly to EUR 17.5 billion, resulting in a net public debt increase of EUR 3.0 billion to EUR 259.7 billion.
Data & statisticsBalance of payments and other external statistics
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2025-04-01•United States•Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) appointed Katherine M.R. Bosken, Polly Klyce Pennoyer, and Aaron Luetzow to the State Liaison Committee (SLC) for two-year terms. They were designated by their respective state supervisory organizations and hold senior roles in state financial regulatory bodies. The SLC also includes Chair Charles G. Cooper and Greg Gonzales, both selected by the Council.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-04-01•United States•Financial Industry Regulatory Authority
FINRA marked the 10th anniversary of its Securities Helpline for Seniors, recovering over USD 9.3 million for investors as of December 31, 2024. The Helpline handled over 32,000 calls, made referrals to regulators and Adult Protective Services, and addressed scams involving romance, confidence, imposter, and crypto assets. FINRA noted recent rule changes enhancing protections for vulnerable investors, detailed in the FINRA 2025 Annual Regulatory Oversight Report.
Financial literacy & educationConsumer and investor protection
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2025-04-01•Colombia•Central Bank of Colombia
The Central Bank of Colombia announced the suspension of the production entry of CENIT for Aval Soluciones Tecnológicas’ DALE via External Circular Letter DSP-0067.
SupervisionInterventionsOther
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2025-04-01•Sweden•Riksbank
Sweden's Riksbank has revised its gold and foreign exchange reserves, increasing US dollar assets to 70% and expanding euro-denominated bond holdings to France, Spain, and Italy. The allocation balances preparedness, risk, and return, with an expected gross return of 3.36% (SEK 19.3 billion) and a net return of 1.75% (SEK 10.1 billion) over 12 months. Sustainability constraints are upheld, favoring Paris Agreement signatories, except for US and German bonds, and including ICMA-aligned sustainable bonds where feasible.
Monetary policyMonetary policy framework & strategy
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2025-04-01•Peru•Superintendencia de Banca, Seguros y AFP del Peru
The Superintendency of Banking, Insurance and Pension Funds Administrators of Peru urges the public to report suspected corruption and ethical misconduct involving its officials via the Citizen’s Single Digital Complaints Platform, which ensures anonymity. The initiative aims to promote integrity in public entities and aligns with the SBS's roles in safeguarding system stability, preventing financial crimes, and protecting user rights.
EnforcementWhistleblowing
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2025-04-01•Global•International Financial Reporting Standards Foundation
The International Financial Reporting Standards Foundation's 2024 report shows a GBP 1.6m pre-tax deficit due to technology upgrades and funding shortfalls. The International Accounting Standards Board issued new standards and consulted on 13 projects, while the International Sustainability Standards Board supported jurisdictions adopting IFRS S1 and S2. An organisational review aims to streamline decision-making, reduce costs, and diversify funding to address future deficits and achieve a balanced budget by 2026.
Institutional developmentGovernanceAccounting and financial reporting
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2025-04-01•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 has drafted laws to enhance the collective investment market, aligning with international standards. The proposals aim to attract investment, protect non-qualified investors, and increase transparency in investment funds. Draft texts are available on the Open Legal Acts portal and the Agency’s website.
Policy & regulationRules & requirementsOther
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2025-04-01•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 has launched a free online financial literacy course on the Skills Enbek platform under the Fingramota.kz project. The course covers money management, budgeting, and risk avoidance in loans, with modules on lending, online fraud protection, and financial pyramids. It is delivered in collaboration with the Centre for Labour Resources Development JSC.
Financial literacy & educationFinancial literacy and education
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2025-04-01•Austria•Austria Financial Market Authority
The Austrian Financial Market Authority (FMA) released a new edition of its consumer information series, emphasizing that life insurance policies are not equivalent to savings accounts. It clarifies that life insurance combines savings with mortality risk coverage, with variable returns and no guaranteed interest rate since 2022. It also warns of financial disadvantages from early redemption and advises that making a policy non-contributory may be preferable.
Financial literacy & educationConsumer and investor protection
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2025-04-01•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia's 2024 Survey on Access to Finance of Enterprises reveals improved access to financing, with firms optimistic about 2025. Despite reduced demand for external financing due to sufficient internal funds, firms cite the economic environment and government incentives as performance obstacles. On the green transition, 54% of firms reported impacts, with significant investment in energy efficiency and renewables.
ResearchEconomic data and developments
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2025-04-01•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia's Financial Stability Review notes a slight rise in financial stability risks for 2025 due to geopolitical and macroeconomic uncertainties, though banks remain resilient. Credit risk is moderate, driven by weaker non-financial corporations and increased non-performing consumer loans, while real estate market risk could rise due to constrained housing supply and lower mortgage rates. Macroprudential policy remains preventive, targeting higher bank capital, minimum credit standards, and controlled consumer lending growth.
SupervisionRisk monitoring & watch pointsFinancial stability and systemic riskMacroprudential policy and tools
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2025-04-01•Congo•Ministry of Finance & Economy (Congo)
The Congo Ministry of Finance, Budget and Public Portfolio said a review of its Human Resources Directorate identified funding and operational constraints affecting personnel management. Despite a larger 2024-2025 training budget, cash flow problems have kept the annual recovery rate below 20%. The directorate is responding with short-term training, a partnership with ENAM and work to digitize HR processes.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-04-01•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released an Application Paper on integrating climate-related risks into insurance supervisory frameworks and announced a public consultation on structural shifts in the life insurance sector. IAIS updated its Insurance Core Principles and Common Framework online tool to reflect recent amendments and reached the Member Review Panel phase for assessments in several jurisdictions. Additionally, IAIS plans to launch an Insurance Capital Standard self-assessment exercise in 2026.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-04-01•Global•International Association of Insurance Supervisors
The International Association of Insurance Supervisors (IAIS) released an Application Paper to help supervisors integrate climate-related risks into insurance practices and began a public consultation on life insurance sector shifts. IAIS updated its Insurance Core Principles and ComFrame online tool, announced a Member Review Panel phase for the Member Assessment Programme in Oman and Targeted Jurisdictional Assessments in several countries, and provided members access to a tool for analyzing natural catastrophe exposures with climate-change impact estimates.
Policy & regulationGuidance & interpretationSupervision process and methodologies
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2025-04-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen 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 through such means. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-04-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about fraudulent websites and internet banking login screens reported by The Bank of East Asia, Limited. The HKMA stressed that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords via phone, email, or SMS. Customers who interacted with these fraudulent sites should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert following Bank of Singapore Limited's report of a fraudulent mobile application. The HKMA reminded customers that banks will not request sensitive information via SMS, email, or phone, nor send links for transactions. Customers who interacted with the app should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-04-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding a fraudulent website and fake internet banking login screen reported by Chong Hing Bank Limited. The HKMA reminded customers that banks will not send messages with embedded links for transactions or request sensitive information via phone, email, or SMS. Affected customers should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-04-01•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority and the Global Coalition to Fight Financial Crime co-hosted the APAC Fighting Financial Crime Conference 2025, focusing on enhancing anti-money laundering and counter-financing of terrorism efforts. Discussions included international best practices, technology developments, and legislative changes to improve information sharing and collaboration. The conference also addressed Hong Kong's role in international AML standard setting and recent changes in banking supervision.
Policy & regulationCooperation
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2025-04-01•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority revised its timeline for the third National Risk Assessment on money laundering, terrorist financing, and proliferation financing due to extensive data needs. Key reports will be released in 2025 to inform policies and compliance frameworks before the MONEYVAL evaluation in October 2026. The work involves collaboration with government agencies, industry representatives, and experts, with plans for increased outreach to explain the revised timetable and solicit industry input.
Policy & regulationImplementation, projects & pilotsRisk analysis and outlook
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2025-04-01•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority reported a 2.23% increase in deposits held by Isle of Man licensed deposit takers, reaching GBP 43.58 billion as of 31 December 2024. Over the year, deposits rose by 4.21%, with foreign currency deposits comprising 46.51% of the total, influenced by a 6.72% depreciation of GBP against USD. The data includes intra-group borrowing not capital in nature.
Data & statisticsFinancial and market indicators
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2025-04-01•United Kingdom•UK Parliament
UK Parliament has enacted the National Insurance Contributions (Secondary Class 1 Contributions) Bill, formalizing new rates announced in the 2024 Autumn Budget. The bill, which includes exemptions for healthcare providers and small companies, underwent final amendments before receiving Royal Assent on 3 April. The legislative process involved resolving disagreements between the Houses on amendments related to sector impact reviews.
Policy & regulationRules & requirementsOther
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2025-04-01•United Kingdom•UK Parliament
The UK Parliament's Public Accounts Committee (PAC) criticized the Department for Culture, Media and Sport's (DCMS) management of COVID-19 loans, citing weak oversight and unrealistic repayment expectations. The report reveals GBP 474m was lent, with GBP 400m still outstanding, and calls for DCMS to explore long-term options for the loan book and improve borrower management. It also notes a conflict of interest in rugby union loans and suggests enhanced scrutiny measures.
OtherLending
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2025-04-01•Global•Bank for International Settlements
The Bank for International Settlements published a working paper defining three "inflation cycles" measures using long-term international consumer price index data, revealing common patterns across economies. The study finds high-inflation regimes significantly increase recession probability and provides a cross-country dataset of inflation-cycle measures. It also notes that inflation cycle amplitudes have declined since 1985, with stronger cross-country co-movement in advanced economies.
Research
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2025-04-01•Global•Bank for International Settlements
The Bank for International Settlements released a working paper comparing Chile’s Household Finance Survey with banking loan records. The study reveals significant gaps in reported loan types and amounts, particularly for consumer credit, while delinquency status is more accurately reported. It highlights that survey data often underestimates consumer debt and overestimates mortgage debt, affecting risk assessments.
ResearchCredit riskAccounting and financial reporting
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular on housing finance for Primary (Urban) Co-operative Banks, consolidating existing instructions and guidelines. This update replaces the previous circular from April 2024 and includes all directives issued up to March 31, 2025. No new instructions or guidelines have been introduced.
Policy & regulationGuidance & interpretationLending
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular on the management of advances for Primary (Urban) Co-operative Banks, consolidating existing instructions and guidelines. This update incorporates all instructions issued up to 31 March 2025, without introducing new guidelines.
Policy & regulationRules & requirementsLending
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised Master Circular on "Exposure Norms and Statutory / Other Restrictions" for Primary (Urban) Co-operative Banks, consolidating regulatory instructions up to 31 March 2025. This update supersedes the January 2024 circular and does not introduce new guidelines.
Policy & regulationGuidance & interpretationLending
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised Master Circular on Guarantees and Co-acceptances for scheduled commercial banks, excluding payment and regional rural banks. This circular consolidates existing guidelines up to March 31, 2025, replacing the previous version without introducing new requirements.
Policy & regulationGuidance & interpretationOther
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised Master Circular for commercial banks, excluding regional rural banks, consolidating prudential norms on income recognition, asset classification, and provisioning for advances. This update compiles existing instructions up to March 31, 2025, without introducing new guidelines.
Policy & regulationRules & requirementsAsset quality
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India issued FAQs clarifying its 2023 Directions on commercial banks' investment portfolios, excluding regional rural banks. Key points include HTM classification for bonds with put options, fair value recognition at initial investment, and treatment of instruments received on conversion into equity or debt. The FAQs also address transition guidance for March 31, 2024, and April 1, 2024, including reserve adjustments and CET 1 capital deductions for Level 3 instruments.
Policy & regulationGuidance & interpretationAccounting and financial reporting
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular for Primary (Urban) Co-operative Banks, consolidating existing regulatory instructions on guarantees, co-acceptances, and letters of credit. This update incorporates all instructions issued up to March 31, 2025, without introducing new requirements.
Policy & regulationGuidance & interpretationOther
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised Master Circular on housing finance for scheduled commercial banks, excluding regional rural banks, consolidating existing regulatory instructions. This update replaces the previous version from April 2, 2024, and includes all instructions up to March 31, 2025. No new instructions or guidelines have been introduced.
Policy & regulationRules & requirementsOther
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular on bank finance to non-banking financial companies for scheduled commercial banks, excluding regional rural banks. This update consolidates all instructions up to 31 March 2025, replacing the previous circular from 24 April 2024, without introducing new guidelines.
Policy & regulationGuidance & interpretationLending
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India released a revised master circular for primary (urban) co-operative banks on income recognition, asset classification, and provisioning. This update consolidates all instructions up to 31 March 2025, replacing the previous version from 2 April 2024, without introducing new guidelines.
Policy & regulationGuidance & interpretationAsset quality
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2025-04-01•India•Reserve Bank of India
The Reserve Bank of India has issued a comprehensive Master Direction on interest rates on deposits, consolidating previous guidance from the 2016 Master Directions for banks and co-operative banks. This new directive, effective immediately, is issued under the Banking Regulation Act, 1949.
Policy & regulationRules & requirementsOther
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2025-04-01•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission and other key bodies confirmed the 28 March 2025 earthquake hasn't impacted the financial system, industrial sector, or capital markets. The insurance sector is ready to process claims efficiently, with an assistance centre for affected policyholders. Losses won't affect insurer stability due to reinsurance with overseas reinsurers.
SupervisionInterventionsOther
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2025-04-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa has issued Togo’s third enhanced follow-up report under its mutual evaluation framework. Togo was placed under reinforced monitoring after its 2022 Mutual Evaluation Report found 11 weak effectiveness results and 24 recommendations rated non-compliant or partially compliant. The report does not assess progress on effectiveness.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-04-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Inter Governmental Action Group against Money Laundering in West Africa has opened an expression of interest process to hire an IT Assistant as an individual consultant. The role pays USD 12,000 per year, and submissions are due by May 19, 2025.
Institutional developmentProcurementAML and CFT
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2025-04-01•Europe•European Central Bank
ECB Executive Board member Piero Cipollone detailed the Eurosystem's strategy to improve cross-border retail payments by expanding SEPA in the Western Balkans and linking fast payment systems. He stressed addressing cost and settlement time issues and regulating stablecoins to reduce fragmentation risks. Steps include cross-currency settlement within TIPS, exploring global payment system connections, and drafting digital euro legislation for cross-border transactions.
Policy & regulationImplementation, projects & pilotsCross-border payments
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2025-04-01•Europe•European Central Bank
The European Central Bank's Working Paper No 3047 examines using word embeddings from ECB President's statements to predict euro area core inflation. The study finds embedding-based text measures significantly enhance forecasting accuracy compared to standard autoregressive models, with a 16% reduction in forecast error over 2008–2023. The research also indicates text-based forecasts complement Eurosystem projections, with notable weights in forecast combinations.
ResearchOther
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2025-04-01•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin article examines the impact of geopolitical risk on bank solvency, using 120 years of data to show that higher geopolitical risk correlates with lower banking sector capitalisation. A two standard deviation increase in geopolitical risk can lead to a 0.2 percentage point decline in the bank capital-to-assets ratio. The article highlights the complementary roles of microprudential supervision and macroprudential policy in embedding geopolitical risk into capital planning and maintaining financial stability.
ResearchGeopolitical risk
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2025-04-01•Europe•European Central Bank
The European Central Bank released the fourth version of the Corporate Actions section of the Single Collateral Management Rulebook for Europe (SCoRE), updating harmonised standards for corporate actions and meeting events across AMI-SeCo markets based on ISO 20022. The update includes clarifications on cancellation instructions and ISO messaging changes effective November 2025. Implementation of Standards 1 to 14 is mandatory by June 2025, with a phased migration for ISO 20022 messaging by November 2025.
Policy & regulationRules & requirementsMarket infrastructure