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2025-03-05•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration has expanded the pilot programme for financial asset investment companies (FAICs) to support technology innovation and private enterprises, now covering 18 cities with investments exceeding CNY 350 billion. The notice allows FAIC-related private equity funds to invest across provinces and permits insurance funds to invest in FAIC-affiliated funds and bonds. The regulator aims to improve the equity investment environment and enhance FAICs' systems and risk controls.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-05•China•China Banking and Insurance Regulatory Commission
China's National Financial Regulatory Administration, with other agencies, launched a pilot to enhance the intellectual property finance ecosystem in key regions. It addresses challenges in using intellectual property as collateral, focusing on registration, valuation, disposal, and risk-sharing. The plan includes expanding pledgeable rights, improving trading mechanisms, and establishing supportive infrastructure to scale successful practices nationwide.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-05•Moldova•National Bank of Moldova
The National Bank of Moldova reported on Governor Anca Dragu’s meetings in Brussels with European Parliament members to enhance financial cooperation with the EU. Discussions focused on Moldova's accession to the Single Euro Payments Area (SEPA) to modernize payments infrastructure and support economic integration. The meetings also addressed progress in European integration, financial reforms, and the need for further alignment with EU standards.
Policy & regulationCooperationCross-border cooperation
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2025-03-05•South Korea•Bank of Korea
The Bank of Korea released preliminary national accounts data for Q4 and the full year 2024, confirming a 0.1% quarter-on-quarter rise in real GDP, aligning with the advance estimate. Real gross national income increased by 1.3% over the same period.
Data & statisticsEconomic data and developments
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2025-03-05•Taiwan•Central Bank of Taiwan
The Central Bank of the Republic of China (Taiwan) reported foreign exchange reserves of USD 577.58 billion at the end of February 2025, a USD 1 million increase from the previous month. This change was due to reserve management returns, exchange rate movements, and operations to stabilize capital flows. Foreign portfolio investors' securities investments and New Taiwan dollar deposits were valued at USD 821.3 billion, 142% of the foreign exchange reserves.
Data & statisticsForeign exchange policy and markets
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2025-03-05•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released technical information on risk-free interest rate term structures as of February 2025. This data, based on EIOPA's Technical Documentation, supports the calculation of technical provisions for (re)insurance obligations under Solvency II. The information is accessible on EIOPA's dedicated RFR website section.
Policy & regulationGuidance & interpretationFinancial and market indicators
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2025-03-05•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority (EIOPA) released a peer review on national supervisors' oversight of insurers' stochastic valuation for products with material options and guarantees. The review involved 21 Member States, recommending seven National Competent Authorities (NCAs) enhance identification and monitoring, and six NCAs develop national guidance on stochastic valuation. Best practices were highlighted to promote consistent supervision across Europe.
SupervisionPeer reviews and country evaluationsSupervision process and methodologies
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2025-03-05•Palestine•Palestine Monetary Authority
Palestine Monetary Authority Governor Yahya Shunnar and Attorney General Akram Al-Khatib discussed enhancing cooperation to combat financial crimes and fraud, focusing on banking sector integrity and transparency. They emphasized operational mechanisms and legal coordination for a well-supervised financial environment and strict measures against offenders. Al-Khatib committed to supporting financial stability and protecting citizens' rights.
Policy & regulationCooperationCross-border cooperationAML and CFT
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2025-03-05•Trinidad & Tobago•Ministry of Finance (Trinidad & Tobago)
Trinidad and Tobago’s Ministry of Finance clarified that discrepancies in the 2023 public accounts were due to an accounting error at the Central Bank related to a new electronic cheque clearing system. An Excel interface error led to tax refunds being overstated from TTD 26 million to TTD 2.6 billion, causing reported revenue to be understated by TTD 2.6 billion. The issue was identified post-submission, and a 2024 investigation revealed differing accounts between the Central Bank and the Treasury Division on corrective actions.
Data & statisticsAccounting and financial reporting
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2025-03-05•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM FSRA) warned about Freedom FX Broker Limited, falsely claiming FSRA regulation on iforex24.com. The entity offers foreign exchange and commodities trading but lacks Financial Services Permission and is not incorporated or licensed in ADGM. Investors should verify firm authorisation via the FSRA and ADGM Registration Authority’s Public Registers.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-05•United Arab Emirates•ADGM Financial Services Regulatory Authority
The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) issued an alert about false claims by FB Financial Brokers EST, trading as Freedom Brokers. The entity falsely advertises trading services and claims a branch in ADGM, despite not being authorised or incorporated there. The FSRA advises verifying firm authorisation on the FSRA Public Register and checking incorporation claims via the ADGM Registration Authority’s Public Register.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-04•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg reported that the aggregate balance sheet total of Luxembourg credit institutions rose to EUR 969,410 million at the end of January 2025, marking a 1.21% increase from December 2024 and a 2.84% year-on-year rise. Monthly asset growth was driven by higher claims on banks, while liabilities increased due to commitments to other sectors. Resident non-bank deposits grew by 3.14% monthly and 9.43% annually, with significant contributions from other financial intermediaries.
Data & statisticsBalance of payments and other external statistics
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2025-03-04•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) has re-appointed Mrs Ayesha Macpherson Lau as Chairman and non-executive director of eMPF Platform Company Limited, along with nine other non-executive directors for a two-year term. The eMPF Platform Company, a wholly-owned MPFA subsidiary, was established to standardize and automate MPF scheme administration, enhancing operational efficiency and reducing costs.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-04•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority announced the adoption of the Law on Open-ended Investment Funds with Public Offering, aligning domestic rules with EU Directive 2009/65/EC. The law enhances transparency, investor protection, competition, and supervisory effectiveness, impacting fund management companies and UCITS funds. It aims to improve regulation for existing and EU-established funds in Montenegro.
Policy & regulationRules & requirementsOther
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2025-03-04•Israel•Bank of Israel
The Bank of Israel has released a public consultation paper on the adoption of the ISO 20022 messaging standard in Israel's payments ecosystem, seeking stakeholder input on broad-based adoption, harmonisation, and implementation challenges, with submissions due by April 30, 2025.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
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2025-03-04•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand, through Deputy Governor Christian Hawkesby's remarks, emphasized its commitment to a resilient and transparent insurance sector, addressing supervisory challenges and climate change impacts. The review of the Insurance Prudential Supervision Act is highlighted as crucial for modernizing the regulatory regime, with efforts to enhance collaboration and regulatory framework updates.
Policy & regulationGuidance & interpretationPrudential risksSupervision process and methodologies
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2025-03-04•Chile•Ministry of Finance (Chile)
Chile’s Ministry of Finance, with the Ministry of Economy, Development and Tourism and Fundación ChileMujeres, released the sixth annual Gender Indicators Report on Companies in Chile. The report highlights a decline in women's representation in senior roles, with women comprising 39.6% of total employees but only 22.1% of board seats. It also notes significant pay gaps and sectoral disparities, particularly in construction and mining.
Data & statisticsDiversity and inclusion
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2025-03-04•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has charged three former Irexchange Limited executives with Corporations Act breaches after an investigation into false or misleading information. Former CEO Brett Charlton and CFO Brett Coventry face charges under section 1308(2), while former company secretary Anand Sundaraj faces multiple charges, including aiding and abetting. Each offence carries a maximum penalty of five years’ imprisonment or AUD 42,000. The Commonwealth Director of Public Prosecutions is prosecuting the case.
EnforcementInvestigations & enforcement actionsCorporate governanceDisclosures
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2025-03-04•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority has suspended trading in Smartphoto Group’s financial instruments on Euronext Brussels from 4 March 2025 at 09:00 CET until a press release is issued.
SupervisionInterventionsTrading
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2025-03-04•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia will conduct the first 2025 Medellín edition of the "Me informo y cuido mi dinero" campaign on 6 and 7 March, in collaboration with the Superintendence of Companies and Superintendence of Industry and Commerce. The initiative aims to educate the public on preventing financial fraud and illegal schemes, focusing on identifying fraud typologies and secure borrowing through digital platforms. Supported by the Medellín Chamber of Commerce, the University of Medellín, and the Pontifical Bolivarian University.
Financial literacy & educationConsumer and investor protection
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2025-03-04•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission's 13th Annual Staff Meeting focused on leveraging technological innovation to advance capital markets and business growth. Key discussions included digitalising supervisory processes, enhancing market liquidity, technology adoption by SMEs, and attracting international investors, particularly within the privatisation programme and a new market operating model. The agenda also explored expanding the Commission's supervisory scope and modernising the market's operating framework.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-03-04•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica and the Ministry of Finance have unveiled their 2025 Financing Plan, emphasizing responsible debt management and external financing to ease domestic market pressure. The Ministry aims to raise CRC 3.5 trillion, with CRC 2.7 trillion domestically and CRC 800 billion externally, while the central bank targets CRC 596.2 billion through bond auctions. Both plans will undergo a semi-annual review in August to adjust for conditions.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-03-04•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica has launched its Business Performance and Outlook Survey to gather short-term economic expectations from private-sector companies and commercial banks. The data will be used exclusively for producing macroeconomic statistics. Historical survey results are accessible on the Central Bank's economic surveys webpage.
Data & statisticsActivity and performance reporting
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2025-03-04•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority announced it will reject any INTEGRA Personal Declaration forms dated 3 March 2025 or later unless submitted using the updated version featuring the BMA logo. This follows a prior notice issued on 19 February 2025.
Policy & regulationGuidance & interpretationOther
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2025-03-04•Italy•Bank of Italy
The Bank of Italy announced the 23rd Public Finance Workshop in Rome on 4-5 September 2025, inviting research paper submissions. The event will focus on fiscal policies for growth, public and private investment, defence economics, and welfare system reforms, including impacts of green and digital transitions on inequality.
ResearchOther
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2025-03-04•Indonesia•Bank Indonesia
Bank of Indonesia and the Indonesian Army launched the United Water Program to improve clean water access for 18,391 families in eight provinces. Part of the Bank Indonesia Social Program, it supports the government's Asta Cita 2 agenda by developing water infrastructure in agriculturally promising areas. The program also aids agriculture and micro, small, and medium-sized enterprises, contributing to stable inflation.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-04•Indonesia•Bank Indonesia
Bank of Indonesia and the Reserve Bank of Australia have renewed their Bilateral Currency Swap Arrangement for five years, allowing currency exchanges up to AUD10 billion (USD6.2 billion) and the equivalent in IDR. Signed by Governors Perry Warjiyo and Michele Bullock, the arrangement supports bilateral trade, investment, and financial stability.
Monetary policyMonetary policy instruments & operationsCross-border cooperation
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2025-03-04•Laos•Bank of the Lao
The Bank of the Lao released a briefing on the Securities Management Committee's inaugural 2025 meeting, which reviewed the Securities Commission Office's 2024 performance and outlined its 2025 work plan. The meeting, chaired by Deputy Prime Minister Saleumxay Kommasith, also addressed strategic issues to enhance the capital market.
Policy & regulationImplementation, projects & pilotsOther
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2025-03-04•Guernsey•Ministry of Finance (Guernsey)
The Guernsey Ministry of Finance reported on meetings between External Relations Ministers of Guernsey and Jersey with EU and British diplomats in Brussels, focusing on EU-UK relations and Channel Islands’ financial services interests. Discussions emphasized cooperation with EU member states, positive MONEYVAL assessments, and sustainable finance developments. The visit marked the 15th anniversary of the Channel Islands Brussels Office, underscoring ongoing engagement with EU partners.
Policy & regulationCooperationCross-border cooperation
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2025-03-04•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau announced changes to the Mandatory Provident Fund Schemes Authority Management Board, reappointing Mrs Ayesha Macpherson Lau as Chairman and appointing two new Non-Executive Directors. The Chief Executive and Financial Secretary made these appointments under the Mandatory Provident Fund Schemes Ordinance. The announcement also noted the departure of two outgoing Non-Executive Directors.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-04•United States•Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis appointed Christina Miller as assistant vice president of Cash Services, overseeing cash operations support across the district. She will manage currency and coin processing and distribution, along with compliance and technology activities. Miller joined the Federal Reserve System in 2012 and previously served as an assistant vice president within Federal Reserve Financial Services.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-04•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Funds (SBS) released a draft amendment to align municipal savings and credit banks' participation with Law No. 31735 and Supreme Decree No. 011-2024-EF. The proposal broadens the use of public investment certificates for tax payments, revises governance reporting requirements, and adjusts investment limit calculations by increasing the fixed factor from 0.5 to 0.8.
Policy & regulationRules & requirementsLending
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 20.9% increase in total credit to KZT 33.8 trillion in 2024, with business lending up 16.3% to KZT 13.1 trillion. Lending to small and medium-sized enterprises rose by 13.1%, while loans to individual entrepreneurs surged by 46.6%. Banks dominated lending, holding 82% of total lending, with significant shares in construction, trade, transport, and communications.
Policy & regulationImplementation, projects & pilotsLending
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan plans to boost real economy lending by reducing liquidity and stable funding coefficients and introducing a new long-term funding mechanism with the National Bank. Key initiatives include reducing SME risk weights from 100% to 50%, simplifying credit assessments, and integrating bank systems with government services. The agency also aims to lower risk weights for foreign-currency corporate loans and expand integration with state databases by 2025.
Policy & regulationRules & requirementsLiquidity riskPrudential risks
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency announced measures to boost real economy lending, including easing collateral constraints and expanding SME guarantee support. Initiatives involve an SME Loan Guarantee Fund, legislative amendments for collateral valuation, and enhancing syndicated lending with non-resident banks. The Development Bank of Kazakhstan is financing five projects totaling KZT 835bn through syndicated lending and co-financing.
Policy & regulationRules & requirementsLendingPrudential risks
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2025-03-04•Zimbabwe•Zimbabwe Insurance and Pensions Commission
The Zimbabwe Insurance and Pensions Commission's Annual Commissioner’s Breakfast Meeting in Harare focused on finalizing compensation for pension scheme members affected by the pre-2009 loss of value. Discussions included scaling the Farmer’s Basket Agricultural Insurance Product to eight rural provinces and supporting the multicurrency system extension to 2030. Industry participants also called for policy adjustments to support funeral assurers' viability and ringfencing long-term insurance and pension assets beyond 2030.
Policy & regulationReform agendas & prioritiesOther
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 2.5% increase in insurers' assets to KZT 3.2 trillion in January 2025, with net profits of KZT 3.0 billion. Insurance premiums rose 10.4% year on year to KZT 154.8 billion, while payouts increased 60.1% to KZT 32.4 billion. The market comprised 25 insurance companies, with significant growth in accident insurance contracts and compulsory motor third-party liability premiums.
Data & statisticsLiquidity riskPrudential risks
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan announced a 2% sectoral countercyclical capital buffer for the retail credit portfolio, effective 1 April 2026, due to excessive household lending growth. The Financial Stability Council approved tighter capital adequacy requirements for microfinance organisations and confirmed banks for the 2025 asset quality review and stress testing. The Council reviewed anti-crisis plans aligned with the IMF’s Financial Sector Assessment Program recommendations to enhance coordination among public authorities.
Policy & regulationRules & requirementsAsset qualitySupervision process and methodologies
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a contraction in the banking sector's balance sheets and lending as of 1 February 2025. Sector assets decreased by 1.5% to KZT 60.6 trillion, loans to the economy fell 0.8% to KZT 33.5 trillion, and resident deposits declined 2.1% to KZT 40.4 trillion. Asset quality remained stable, with non-performing loans at 3.2% and provision coverage at 66.9%, while equity rose 2.0% to KZT 9.1 trillion.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-03-04•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 reported a 2.4% decline in equity market capitalisation to KZT 32.1 trillion as of 1 February 2025, driven by price falls in major companies. Share trading volume decreased by 35.1%, while corporate bond trading dropped 83.0%. Government securities trading increased significantly, with the Ministry of Finance raising KZT 286.1 billion.
Data & statisticsFinancial and market indicatorsMarket development
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported growth in the microfinance sector's balance sheet and lending through Q4 2024, with assets at KZT 3.0 trillion and a loan portfolio of KZT 2.8 trillion. Microfinance organisations held 57.4% of total assets, with business lending at 58.9% of the microcredit portfolio. Non-performing loans over 90 days rose to 4.5%, while liabilities and equity increased to KZT 2.0 trillion and KZT 1.0 trillion, respectively.
Data & statisticsFinancial and market indicatorsAsset quality
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2025-03-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan reported a 14.3% increase in consumer protection appeals in January 2025, resulting in KZT 14.8 million in penalties. Banks accounted for most appeals, with significant penalties on banks and microfinance organizations. The update highlighted the Mortgage Housing Loan Refinancing Programme, refinancing 32,700 mortgages and converting 15,700 foreign-currency mortgages, with additional support for socially vulnerable borrowers.
SupervisionReviews, inspections & stress testsLending
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2025-03-04•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 approved Tlegen Sovetuly Matkenov's appointment to the Management Board of JSC Halyk Bank of Kazakhstan, focusing on security matters.
SupervisionAuthorisations & approvalsOther
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2025-03-04•Austria•Austria Financial Market Authority
Austria's Financial Market Authority reported that Austrian Pensionskassen assets under management reached a record EUR 28.7 billion at the end of 2024, driven by contribution inflows and positive investment markets. The second pillar covered nearly 1.1 million beneficiaries, representing over 23% of Austria's employed population. Investment performance improved to 7.8% in 2024, with multi-employer pension companies managing 92% of assets.
Data & statisticsActivity and performance reporting
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2025-03-04•Slovenia•Central Bank of Slovenia
The Central Bank of Slovenia reported a slight increase in counterfeit euro banknotes and a decrease in counterfeit coins in 2024, with the total value of detected counterfeits rising by 7.4% to EUR 123,009. The EUR 2 coin accounted for over 92% of counterfeit coins, while counterfeit EUR 10, EUR 20, and EUR 200 banknotes increased. The bank emphasized the "feel, look and tilt" method for verifying banknote authenticity and advised comparing suspicious cash with genuine notes.
Data & statisticsCurrency and cash management
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2025-03-04•Australia•Reserve Bank of Australia
Bank Indonesia and the Reserve Bank of Australia have renewed their Bilateral Currency Swap Arrangement for five years, allowing swaps of up to AUD10 billion (USD6.2 billion) and the corresponding amount in Indonesian Rupiah (IDR) to support bilateral trade, investment, and financial stability.
Monetary policyMonetary policy instruments & operationsCross-border cooperationForeign exchange policy and markets
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2025-03-04•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding fraudulent websites and internet banking login screens reported by Chong Hing Bank Limited. The HKMA reminded customers that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-04•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert after The Bank of East Asia reported fraudulent websites and banking login screens. HKMA reminded the public that banks won't send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Those who interacted with the fraudulent sites should contact The Bank of East Asia and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-03-04•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority announced a memorandum of understanding between CMU OmniClear Limited and Hong Kong Exchanges and Clearing Limited to enhance Hong Kong's post-trade securities infrastructure. The collaboration aims to achieve cross-asset class efficiencies, expand the use of Mainland bonds as collateral, and develop an international central securities depository in Asia, linked to transforming the Central Moneymarkets Unit into an ICSD and advancing Hong Kong's fixed-income market.
Policy & regulationCooperationMarket infrastructureMarket development
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2025-03-04•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission hosted a dialogue on climate change adaptation, focusing on enhancing disaster risk management and stakeholder coordination. Key themes for insurers included forward-looking risk awareness, adapting underwriting and product design with AI and big data, and disciplined risk assessment. The event featured discussions on future risk-management measures, building on previous flood-awareness initiatives.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-04•Mexico•CONDUSEF
Mexico's CONDUSEF issued an alert about fraudulent phone and WhatsApp messages from individuals impersonating its employees. The messages falsely claim CONDUSEF has recovered funds from a distressed lender. CONDUSEF emphasized it does not conduct money recoveries and urged the public to avoid sharing personal information or making payments to unknown parties.
SupervisionAlertsFraud and scams
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2025-03-04•Iraq•Central Bank of Iraq
The Central Bank of Iraq conducted a workshop on its renewable energy financing initiative, emphasizing loan procedure simplification to enhance accessibility. The session included various stakeholders and highlighted broader initiatives to reduce carbon emissions, such as the 2021 renewable energy initiative and soft loans for local brick factories transitioning to liquefied gas.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-04•Germany•German Bundesbank
The German Bundesbank proposes reforming Germany’s federal debt brake to boost public investment while maintaining fiscal sustainability. The plan allows up to EUR 220bn in additional debt-financed spending by 2030 if the debt-to-GDP ratio is below 60%, with a reduced limit of EUR 100bn if it exceeds 60%. The Bundesbank suggests increasing the federal borrowing limit to 1.4% of GDP under favorable debt conditions, preferring fundamental reform over temporary measures.
Policy & regulationReform agendas & priorities
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2025-03-04•Poland•Ministry of Finance (Poland)
Poland's Ministry of Finance announced the appointment of Jarosław Zóltowski as General Inspector of Financial Information (GIIF) by Prime Minister Donald Tusk, with a mandate until 24 February 2031. Zóltowski, a lawyer with over 30 years of experience in financial security and anti-money laundering, previously served as Director of the Financial Security Office at Bank Gospodarstwa Krajowego.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-04•Bahrain•Central Bank of Bahrain
The Central Bank of Bahrain has introduced a consolidated Fit and Proper Module in its Rulebook, streamlining requirements for board and senior management appointments at licensed financial institutions. The new rules reduce roles needing prior CBB approval and eliminate uniform qualifications, shifting responsibility to boards and CEOs to ensure suitability. The Module applies to all CBB licensees, with phased implementation starting 1 April 2025.
Policy & regulationRules & requirementsFitness and propriety
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2025-03-04•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia is co-organising a capacity-building workshop on "Sustainable Finance and Investor Roadmap" with several international partners. The event will take place on 4 March 2025 at Hyatt Regency Phnom Penh.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-03-04•Canada•Ontario Securities Commission
The Ontario Securities Commission has filed fraud allegations against Jason Cloth and Creative Wealth Media Finance Corp. related to an investment offering for lending to film and television producers. The OSC claims over $500 million was raised, with at least $70 million misappropriated for unauthorized uses, leading to Creative Wealth's bankruptcy. Funds were allegedly diverted to real estate and other projects, and to repay existing investors.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-03-04•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued a warning about 14 companies not registered to deal or advise in securities in Ontario, highlighting potential harmful or illegal activity. The OSC advises investors to verify registration through its resources and stay informed via its official channels.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-04•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has imposed civil sanctions totaling THB 17,529,772 on 11 individuals for insider trading related to L.P.N. Development Public Company Limited shares. The sanctions include bans on serving as directors or executives and cover trades made using inside information and concealed identities. If offenders do not comply, the SEC will escalate the matter to the public prosecutor for further civil action.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-03-04•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority has approved a prospectus for a subscription offer of 3,500,000 AIRBUS SE shares reserved for group employees in Morocco. The subscription price is set at EUR 168.92 (MAD 1,759.37) or the closing price on 31 March 2025, whichever is lower. The offer is supported by Airbus’s 2023 universal registration document, 2024 financial report, and ESOP 2025 information document.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-03-04•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Markets Authority approved MANAGEM SA's annual and occasional update of its information dossier for the commercial paper issuance programme.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-03-04•Europe•European Commission
The European Commission adopted a legislative package to simplify EU sustainability and investment rules, aiming to reduce administrative burdens by 25% and 35% for SMEs, potentially saving EUR 6.3 billion annually and mobilizing EUR 50 billion in investment. Key proposals include narrowing the Corporate Sustainability Reporting Directive, adjusting the Green Asset Ratio for banks, and exempting small importers from the Carbon Border Adjustment Mechanism. The proposals will be considered by the European Parliament and the Council, with changes taking effect post-agreement and publication.
Policy & regulationRules & requirementsClimate risk and sustainable finance
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2025-03-04•Malta•Central Bank of Malta
The Central Bank of Malta has initiated a consultation to consider incorporating licensed financial institutions and notified financial vehicle corporations into the Central Credit Register's legislative framework.
Policy & regulationRules & requirementsCredit risk
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2025-03-04•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued a consumer alert after residents lost over CAD 6 million to investment frauds in 2024, a significant increase from the previous year. The Commission highlighted frauds related to investments, cryptocurrencies, and digital assets, urging residents to verify investment advisors' registration. It revived its Permission to Pause campaign during Fraud Prevention Month and is collaborating with the Canadian Fraud Forum to disseminate anti-fraud content.
SupervisionAlertsFraud and scams
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2025-03-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority issued Decisions No. 17 and No. 18 of 2025, raising the microfinance cap to EGP 266,000 and the microinsurance coverage limit to EGP 312,500. Decision No. 17 applies to financing by companies, associations, and civil society institutions, reflecting a 10% increase. Decision No. 18 aligns with economic changes and Egypt’s Unified Insurance Law, following a prior 25% increase to EGP 250,000 in 2024.
Policy & regulationRules & requirementsSME financing
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2025-03-04•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority issued Board Decision No. 1 of 2025, allowing a single entity to establish multiple private insurance funds under specific criteria. These funds can offer varied benefits or cater to different membership bases within the same entity. The decision aligns with the Authority's previous updates to standard articles of association under the Unified Insurance Law.
Policy & regulationRules & requirementsOther
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2025-03-04•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) fined Savcor Technologies Oy EUR 100,000 for failing to notify managers’ transactions under the EU Market Abuse Regulation. The violations included delayed notifications and incorrect transaction dates, with delays ranging from eight months to over three years. The decision is not yet legally binding, and Savcor may appeal to the Helsinki Administrative Court.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-03-04•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority (FIN-FSA) fined BBS-Bioactive Bone Substitutes Plc EUR 30,000 for failing to meet EU Market Abuse Regulation notification obligations. The violations involved not informing three managers of their transaction duties from February 2018 to November 2023. The decision is not legally binding, and the company can appeal within 30 days.
EnforcementInvestigations & enforcement actionsMarket abuse
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2025-03-04•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway released webinar materials on the Digital Operational Resilience Act (DORA), detailing ICT incident reporting and the Register of Information on ICT service agreements. Key points include classifying and reporting "serious" ICT incidents with deadlines and maintaining a register of critical ICT outsourcing arrangements. Reporting will use standardised templates, with Finanstilsynet forwarding reports to European Supervisory Authorities and receiving relevant reports for Norway.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-03-04•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority issued a report on Sparebank 1 Næringskreditt AS, highlighting the need for improved board reporting, LCR buffer composition, and liquidity stress-testing. Recommendations include enhancing decision-usefulness of board reports, limiting Norwegian covered bonds to 50% of LCR liquid assets, and diversifying collateral. Sparebank 1 Næringskreditt plans to incorporate stress-testing feedback in its next liquidity stress test.
SupervisionReviews, inspections & stress testsLiquidity riskStress testing
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2025-03-04•Europe•European Central Bank
The European Central Bank released the Eurosystem’s disaggregated financial statement as of 31 January 2025, detailing assets and liabilities by each euro area national central bank and the ECB. The consolidated balance sheet totaled EUR 6,393,680 million, with significant liabilities including EUR 1,566,957 million in banknotes in circulation and EUR 3,033,231 million related to monetary policy operations. The statement notes that "Capital and reserves" can be negative for individual national central banks due to accumulated losses.
Data & statisticsMonetary data
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2025-03-04•United States•Federal Deposit Insurance Corporation
The FDIC released a list of state nonmember banks evaluated for Community Reinvestment Act compliance, detailing ratings from December 2024. The CRA mandates the FDIC to assess banks' efforts in meeting community credit needs, including low- and moderate-income neighborhoods. Public disclosure of these evaluations is required under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.
SupervisionReviews, inspections & stress testsOther
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2025-03-04•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) has authorized 12 payment processing service providers to continue cross-border operations after committing to comply with Chapter III.J.2 of the Central Bank of Chile’s Compendium of Financial Standards. This follows amendments to the transitory provisions in July 2024. The CMF is revising its regulatory framework post-public consultation, with final regulations expected by December 2025.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-04•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets warned that Pelliron, promoted via pelliron.md and pelliron.com, is not registered to provide capital market services in Moldova. The Commission advised investors to avoid unauthorised platforms, check public registers, and be cautious of investment offers promising large returns. It also noted an IOSCO public warning regarding Pelliron and cautioned against sharing personal or payment details with unknown entities.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-03-04•United States•Federal Reserve Board
The Federal Reserve Board has terminated its enforcement action against Lake Shore MHC and Lake Shore Bancorp Inc. of Dunkirk, New York. The action, a written agreement from June 28, 2023, was concluded on March 4, 2025.
EnforcementInvestigations & enforcement actionsOther
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2025-03-04•Canada•Canadian Bankers Association
The Canadian Bankers Association reported that 16 U.S. bank subsidiaries and branches operate in Canada, holding approximately CAD 113 billion in assets. These banks provide a range of services, including corporate lending and investment banking, and account for about half of all foreign bank assets in Canada.
OtherCross-border cooperation
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2025-03-04•Canada•British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) has permanently banned Hope Moira Donna Thomas and Johny Panyavong from B.C.'s investment market due to misconduct. Thomas misappropriated approximately CAD 157,000 while with CIBC Securities Inc., leading to a CAD 300,000 fine and a ban by the Canadian Investment Regulatory Organization. Panyavong pleaded guilty to theft and forgery related to a failed real estate investment, resulting in a CAD 30,000 restitution order and 18 months of probation.
EnforcementSanctions & designations
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2025-03-04•Global•Financial Stability Board
The Financial Stability Board has appointed Tiff Macklem as Chair of the Standing Committee on Assessment of Vulnerabilities and Dominique Laboureix as Chair of the Resolution Steering Group, effective 4 March 2025. SCAV evaluates global financial system vulnerabilities, while ReSG develops standards for resolution regimes. Both appointments are for two-year terms, succeeding Nellie Liang and Martin J. Gruenberg.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-04•Canada•Canadian Bankers Association
The Canadian Bankers Association reported that 16 U.S.-based bank subsidiaries and branches operate in Canada, holding approximately CAD 113 billion in assets and accounting for about half of all foreign bank assets in the country. These banks offer a range of services, including corporate and commercial lending, treasury services, credit card products, investment banking, and mortgage financing.
OtherCross-border cooperation
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2025-03-04•Moldova•National Bank of Moldova
The National Bank of Moldova, led by Governor Anca Dragu, is visiting Brussels to enhance cooperation with European institutions and further Moldova's financial integration into the EU. Discussions with European Commission officials focused on aligning Moldova's financial regulations with EU standards, modernizing payments infrastructure, and joining the Single Euro Payments Area (SEPA). The agenda also includes meetings on financial reforms and education.
Policy & regulationCooperationCross-border cooperation
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2025-03-04•Moldova•National Bank of Moldova
The National Bank of Moldova released a draft decision to amend its Regulation on the supervision of the Single Central Securities Depository, aligning it with recent legislative changes. The revision reflects updates from Law No. 292/2023 and Law No. 174/2024, enhancing the legal framework and the bank's oversight role. The review also considers the Regulation on monitoring financial market infrastructures effective from December 2024.
Policy & regulationRules & requirementsMarket infrastructure
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2025-03-04•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
FINMA has initiated bankruptcy proceedings against FinTech start-up SWISS4.0 SA due to overindebtedness and liquidity issues, appointing Valfor Avocats Sàrl as liquidator. Despite prior interventions, SWISS4.0 SA failed to improve its financial situation. FINMA emphasized that client assets in FinTech bankruptcies are not protected by deposit insurance and is working on legislative amendments to enhance client asset protection.
SupervisionInterventionsLiquidity riskPrudential risks
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2025-03-04•Denmark•National Bank of Denmark
The National Bank of Denmark reported a DKK 3.4 billion increase in the foreign-exchange reserve to DKK 657.0 billion in February 2025, driven by net foreign-exchange purchases and government borrowing. The central bank did not intervene in the foreign-exchange market, and policy rates remained unchanged. The balance sheet total rose to approximately DKK 702.8 billion, with foreign assets at DKK 563.3 billion.
Data & statisticsBalance of payments and other external statistics
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2025-03-04•Denmark•National Bank of Denmark
The National Bank of Denmark reported that pension wealth in Danish pension companies rose by DKK 317bn in 2024, reaching DKK 4,351bn, recovering from the 2022 decline. The increase over two years totals DKK 601bn, driven by capital gains on equities and bonds, alongside higher pension contributions of DKK 48bn in 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-03-04•Taiwan•Taiwan Financial Services Commission
As of January 2025, Taiwan's 38 domestic banks saw loan growth and a slight rise in non-performing loans (NPLs), totaling NT$42.6 trillion (USD 1,303 billion) and NPLs at NT$68.5 billion (USD 2.1 billion). The average NPL ratio rose to 0.16%, with the coverage ratio for NPLs decreasing to 845.58%. The FSC deems asset quality manageable and will require banks to enhance asset quality and financial structure.
Data & statisticsAsset quality
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2025-03-04•United Kingdom•The Pensions Regulator
The Pensions Regulator's 2024 DC landscape statistical release shows a 15% decline in non-micro defined contribution and hybrid schemes, reducing the total to 920, driven by schemes with fewer than 5,000 memberships. Memberships in DC schemes rose 6% to 30.6 million, with master trusts holding 91% of memberships and GBP 166 billion in assets. The regulator updated its data approach, revising past asset figures and emphasizing its initiative on value for money, noting penalties for non-compliance.
Data & statisticsSupervisory data
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2025-03-04•Palestine•Palestine Monetary Authority
The Palestine Monetary Authority and Palestine Telecommunications Company (Jawwal) have renewed an agreement to enhance telecommunications services for financial operations in Palestine. This initiative aims to strengthen the banking sector's technology infrastructure by connecting banks and financial institutions through high-speed fibre-optic networks and internet services. The agreement supports the National Financial Inclusion Strategy and facilitates banking services in the Gaza Strip.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-03-03•Peru•Superintendencia del Mercado de Valores de Peru
Peru's Superintendencia del Mercado de Valores announced final court rulings from 2024 that alter, annul, or suspend its resolutions. The notice, in line with SMV's disclosure policy, references two specific case files accessible through the Judiciary’s CEJ case search system.
Policy & regulationGuidance & interpretationOther
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2025-03-03•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo approved a roadmap for transitioning to the Supervisory Review and Evaluation Process (SREP) for banks, aligning with European Banking Authority principles. Supported by the International Monetary Fund, the roadmap aims to enhance risk assessment and supervisory strategies, fulfilling a structural benchmark under current IMF arrangements. Implementation involves staff training, consultations with banks, and setting a timeframe for full adoption of the SREP manual.
Policy & regulationImplementation, projects & pilotsSupervision process and methodologies
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2025-03-03•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority fined Anaam International Holding Group SAR 40,000 for breaching Article 78(A) of the Rules on the Offer of Securities and Continuing Obligations by providing incorrect information in market announcements. The violations pertain to disclosures on the Saudi Exchange website regarding the company's annual and interim financial results.
EnforcementInvestigations & enforcement actionsCorporate governanceDisclosures
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2025-03-03•Ukraine•National Bank of Ukraine
The National Bank of Ukraine's February 2025 Business Outlook Survey shows improved economic expectations, with the composite business activity expectations index rising to 46.9 from 41.0 in January. Industry had the strongest outlook, services the weakest, and firms reported less intent to raise prices amid slowing purchase-price growth. Constraints included missile attacks, energy and labor costs, and inflation, with most sectors expecting slower headcount reductions.
Data & statisticsEconomic data and developments
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2025-03-03•Israel•Bank of Israel
The Bank of Israel has released a preliminary high-level design for a potential central bank digital currency, the digital shekel, inviting public and professional feedback on its features. The design outlines a two-tier model ensuring privacy, interoperability, and cost efficiency, with no decision yet on issuance.
Policy & regulationImplementation, projects & pilotsCBDC
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2025-03-03•Rwanda•Rwanda Capital Markets Authority
The Rwanda Capital Markets Authority and the National Bank of Rwanda have released a draft Law Regulating Virtual Assets Business in Rwanda, seeking public input to develop a regulatory framework for virtual assets and service providers. This follows a National Risk Assessment identifying key risks and recommending regulation.
Policy & regulationRules & requirementsRegulatory reporting
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2025-03-03•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority, led by Insurance Commissioner Dr. Baghayo Saqware, met with Mwanza regional leaders to discuss the importance of insurance and investment opportunities in the sector. The visit also aimed to support the implementation of the Universal Health Insurance Act.
Financial literacy & educationFinancial literacy and education
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2025-03-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has released a draft resolution for public discussion on the use of electronic signatures in capital and commodity markets. The Procedure outlines rules for electronic signatures and seals, allowing participants to select signature types per legal standards, and sets requirements for qualified, improved, and simple signatures.
Policy & regulationRules & requirementsDigital identity
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2025-03-03•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Tamara Finance to offer consumer finance and buy-now-pay-later services, raising the total number of licensed finance companies to 65. SAMA emphasized the importance of engaging with authorized financial institutions and referred stakeholders to its website for a list of licensed entities.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-03•Saudi Arabia•Saudi Arabian Monetary Authority
The Saudi Central Bank (SAMA) has licensed Tamara Finance to offer consumer finance and buy-now-pay-later services, increasing the total number of licensed finance companies to 65. SAMA aims to enhance financial transaction efficiency and promote innovative solutions for financial inclusion, while advising consumers to engage only with authorised institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-03-03•Nigeria•Ministry of Finance (Nigeria)
Nigeria's Ministry of Finance reported on the 11th ECOWAS Convergence Council meeting in Abuja, focusing on monetary convergence and the Eco currency launch by 2027. Finance Minister Wale Edun emphasized Nigeria's commitment to regional cooperation and called for enhanced monetary and fiscal discipline amid security and economic challenges. The ministry noted Nigeria's economic reforms, including foreign exchange and tax policy changes, contributing to 3.4% GDP growth in 2024 and improved fiscal sustainability.
Policy & regulationCooperationCurrency and cash managementFinancial stability and systemic risk
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2025-03-03•Nigeria•Ministry of Finance (Nigeria)
Nigeria's Ministry of Finance, led by Minister of State Doris Uzoka-Anite, urged increased female participation in the capital market during the launch of the SEC Podcast in Abuja. Uzoka-Anite advocated for policies to empower women and highlighted their challenges in balancing professional and family roles. SEC Director General Emomotimi Agama noted the podcast aims to spread capital market information nationwide, including remote areas.
Financial literacy & educationFinancial inclusion
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2025-03-03•Peru•Central Bank of Peru
The Central Bank of Peru reported a 7.5% year-on-year growth in agricultural and livestock activity for December 2024, with a 4.9% increase over the year, recovering from 2023's climate shocks. December's growth was driven by a 27.8% rise in export-oriented output, notably blueberries, grapes, and mangoes, due to favorable weather. However, domestic agricultural production decreased by 1.9%, and agroindustrial output fell by 3.1%, while poultry meat production rose 3.4%.
Data & statisticsEconomic data and developments