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2025-03-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The Intergovernmental Action Group against Money Laundering in West Africa has launched recruitment for three international consultants to run a regional seminar in Dakar for judges on economic and financial crimes under its African Development Bank-backed AML/CFT capacity project. The program targets 10 West African transition countries and is designed to address weak outcomes in prosecuting and adjudicating money laundering and terrorist financing cases, including limited use of asset forfeiture and international cooperation. Selection will follow the African Development Bank’s individual consultant procurement method.
Policy & regulationImplementation, projects & pilotsAML and CFT
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2025-03-01•Africa•Inter Governmental Action Group against Money Laundering in West Africa (GIABA)
The ECOWAS Gender Development Center has opened an expression of interest for an anglophone program assistant to support program delivery across ECOWAS member states. The Dakar-based full-time role pays USD 12,000 a year and runs for one year, renewable subject to funding and performance. The notice sets a 70 out of 100 qualification threshold and lists conflicting application deadlines of March 24, 2025 and February 24, 2025.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-03-01•South Africa•South African Reserve Bank
The South African Reserve Bank has published the March 2025 edition of its Tax Chronology of South Africa, detailing tax rates and policy milestones from 1979 to 2025. Key updates include unchanged personal income tax brackets for 2024/25 and 2025/26, a corporate income tax rate of 27% for tax years ending on or after 31 March 2023, a dividends withholding tax of 20% for Budget Reviews 2017–2025, and a VAT increase from 15% to 15.5% effective 1 May 2025.
Data & statisticsOther
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2025-03-01•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued guidance on the 2025 Annual Supervision Fees for non-stock savings and loans associations (NSSLAs) and trust corporations. The memorandum details fee rates, tiered caps for NSSLAs, AUM-based charges for trust corporations, and the payment and exception-handling process. Billing notices will be issued in April 2025, with institutions required to review for accuracy and submit exceptions within ten days.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-03-01•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) issued an FAQ booklet to clarify Special Economic Zone (SEZ) compliance for units in GIFT-IFSC, aiming to reduce compliance burdens and enhance regulatory clarity. It details SEZ requirements throughout an IFSC unit's lifecycle, including procedures and documentation. This follows the consolidation of SEZ administrative powers under an IFSCA-nominated Administrator, allowing entities to seek approvals under both the SEZ Act and the IFSCA Act.
Policy & regulationGuidance & interpretationCompliance
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2025-03-01•Oman•Oman Financial Services Authority
The Oman Financial Services Authority has introduced integrated digital trading platforms for licensed brokerage firms, enhancing remote trading and standardizing digital investment procedures. These platforms enable share booking, order placement, and secure fund transfers with the Muscat Clearing and Depository Company. Several firms have already launched their platforms, with a full readiness deadline set for end-2025.
Policy & regulationImplementation, projects & pilotsTradingMarket development
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2025-03-01•Malaysia•Malaysia Securities Commission
The Malaysia Securities Commission and the Malaysian Communications and Multimedia Commission will enhance cooperation against online scams and unlicensed activities, focusing on enforcement, AI capabilities, and expedited content takedowns. In 2024, the Malaysia Securities Commission received 4,859 scam complaints, while 66,507 scam-related contents were removed by service providers. The regulators will also collaborate on public education initiatives and streamline coordination for rapid responses to financial cybercrimes.
SupervisionCooperationCyber resilienceConsumer and investor protection
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2025-03-01•Zambia•Bank of Zambia
The Bank of Zambia released a privacy policy for its New Banknote Mobile Application, detailing minimal data collection and usage practices. The app primarily gathers non-personally identifiable data to enhance functionality, with personal information not shared unless legally required. Users are advised that third-party links are outside the Bank's control, and updates to the policy will be communicated through the app.
Policy & regulationGuidance & interpretationData protection
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2025-03-01•Global•IOSCO
The International Organization of Securities Commissions (IOSCO) released a consultation report on artificial intelligence in capital markets, highlighting risks to investor protection, market integrity, and financial stability. The report identifies AI's expanding role in decision-support, surveillance, and compliance, while outlining risks such as malicious use, model vulnerabilities, and human-AI interaction issues. IOSCO plans further analysis to determine the need for additional tools or guidance, in coordination with international bodies like the Financial Stability Board.
Policy & regulationInternational standards & recommendationsArtificial intelligence
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2025-03-01•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini revised its inflation projections for 2025-2027, lowering the 2026 forecast to 4.05% from 4.58% and the 2027 forecast to 3.92% from 4.34%. Key drivers include moderated food and housing prices, with inflation in April 2025 at 3.3% and core inflation at 3.4%, both below expectations. The Bank anticipates continued pressure from a weaker rand/lilangeni exchange rate and policy changes in South Africa.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-03-01•Canada•Canadian Public Accountability Board
The Canadian Public Accountability Board released a supervision note on risk-based inspections for issuers with significant foreign operations and access to component auditor working papers. In 2024, audit firms reported 819 significant operations in the U.S., U.K., and Australia, and 627 in 110 other jurisdictions, affecting issuers with a combined market capitalization of $1,777.1B. The Board highlighted MOUs with audit regulators in 32 countries and noted access challenges in Bermuda, China, Mexico, and Tunisia.
SupervisionSupervision approach, priorities & toolkitAuditing
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2025-03-01•Russia•Central Bank of Russia
The Central Bank of Russia introduced a measure enabling individuals to voluntarily ban themselves from loan or microloan agreements via the Public Services Portal, recorded in their credit history to prevent fraud. The self-ban can specify creditor type and application channel, and be cancelled with an enhanced digital signature. Banks and microfinance organisations must verify credit histories for active self-bans and are prohibited from lending if one is present.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-03-01•United States•Federal Reserve Board
The Federal Reserve Board released a research paper by Michael T. Kiley and Frederic S. Mishkin on the evolution and effectiveness of inflation targeting as a monetary policy strategy. The paper highlights its success in anchoring inflation through systematic frameworks and transparent communication, while addressing challenges in forward guidance, quantitative measures, and financial stability.
Research
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2025-03-01•India•Securities & Exchange Board of India
Shri Tuhin Kanta Pandey has assumed the role of Chairman of the Securities and Exchange Board of India in Mumbai. Pandey, a 1987-batch Indian Administrative Service officer, previously served as Union Finance Secretary and held various key positions in the Indian government and the Government of Odisha.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-03-01•Australia•Department of Treasury (Australia)
The Australian Department of the Treasury and APRA released a discussion paper on the proposed Financial Institutions Supervisory Levies for 2025–26, aiming to raise AUD 282.6 million, a 3.9% decrease from the previous year. The levies will cover APRA’s costs and those of other Commonwealth agencies, with APRA’s net levy requirement set at AUD 243.0 million. Proposed sector allocations include AUD 110.8 million for ADIs, AUD 19.5 million for life insurance and friendly societies, and AUD 112.5 million for superannuation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-28•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has released its annual transparency calculations for equity and equity-like instruments, determining liquidity status and metrics for MiFID II/MiFIR transparency and tick-size requirements effective from 7 April 2025. Based on 2024 data, 1,283 liquid shares and 1,003 liquid equity-like instruments are identified, with details available via the Financial Instruments Transparency System. ESMA advises market participants to monitor daily updates for new instruments and subsequent calculations.
Policy & regulationImplementation, projects & pilotsRegulatory reporting
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2025-02-28•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported continued positive dynamics in the banking and financial sector for January 2025, with double-digit growth in credit and public deposits. Credit quality and profitability remained stable, while liquidity and solvency exceeded regulatory limits. Key metrics included a 10.3% rise in public deposits, a 20.3% increase in the credit portfolio, and a capital adequacy ratio of 18.5% against a 10% requirement.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-28•Bolivia•Central Bank of Bolivia
The Central Bank of Bolivia's 2024 update details efforts to preserve financial stability, modernize payments, and manage liquidity to contain inflation. It reports a strengthening trend in net international reserves, projecting a USD 400 million increase in 2025, and highlights growth in digital transactions and credit portfolios. The BCB aims to enhance financial inclusion, payment digitalization, and macroeconomic stability, with monetary policies supporting economic growth in 2025.
Monetary policyMonetary policy assessments & outlooksAccounting and financial reporting
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2025-02-28•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama hosted a delegation from Honduras’ National Commission of Banks and Insurance to exchange knowledge on consolidated supervision practices. The visit focused on supervisory colleges and risk profiling of financial conglomerates, with interactive sessions to aid CNBS in adopting new supervisory tools.
SupervisionCooperationCapacity buildingDomestic cooperation
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2025-02-28•Australia•Australian Securities & Investments Commission
The Supreme Court of New South Wales convicted Allianz Australia Insurance Limited and AWP Australia Pty Ltd, imposing fines totaling AUD 16.8 million for false or misleading travel insurance statements, violating the Corporations Act. Allianz was fined AUD 13.5 million for six counts, and AWP AUD 3.3 million for one count. The case, prosecuted by the Commonwealth Director of Public Prosecutions, followed ASIC's investigation and referral.
EnforcementInvestigations & enforcement actions
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2025-02-28•British Virgin Islands•Ministry of Finance (British Virgin Islands)
The British Virgin Islands Ministry of Finance released a statement from Premier Dr. Natalio D. Wheatley on a trade mission to Greater China and Malaysia, and economic tensions with the United States Virgin Islands (USVI). The statement highlighted efforts to diversify financial services markets and proposed reforms to the licensing regime for commercial recreational vessels. An amendment bill reflecting these changes has had its first reading, while discussions with USVI Governor Albert Bryan are ongoing amid potential tariffs and transit fees.
Policy & regulationRules & requirementsEconomic data and developments
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2025-02-28•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority's December 2024 Statistical Digest reports total MPF assets at HKD 1.29 trillion, a 128% increase over 10 years. MPF equity and mixed assets funds, nearly 80% of assets, achieved average annualised net returns of 4.3% and 4.0%, against 1.8% inflation. Default Investment Strategy holdings made up 30% of accounts with HKD 134.6 billion invested, while tax-deductible voluntary contributions rose 12% year on year to 80,000 accounts.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-28•British Virgin Islands•Ministry of Finance (British Virgin Islands)
The British Virgin Islands Ministry of Financial Services, Economic Development and Digital Transformation extended its consultation on a draft policy for access to the register of beneficial ownership to 14 March 2025. The policy aims to define "legitimate interest" for accessing ownership information, balancing privacy with transparency and anti-illicit finance efforts.
Policy & regulationRules & requirementsBeneficial ownership
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2025-02-28•United States•Federal Reserve Board
The Federal Reserve Board released a research paper on CardSim, a simulation methodology for payment card transactions aimed at enhancing fraud detection research. CardSim generates datasets reflecting diverse fraud tactics using a Bayesian approach and a modular structure, without relying on sensitive real-world data. The simulator supports machine learning workflows and modeling approaches for fraud detection.
ResearchFraud and scamsArtificial intelligence
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2025-02-28•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) secured interim Federal Court orders to freeze the assets of Falcon Capital Limited, the First Guardian Master Fund, and Falcon director David Anderson amid an ongoing investigation. The orders prevent Falcon and Anderson from removing or diminishing property value, incurring new liabilities, and transferring funds, with limited exceptions. Falcon, responsible for the First Guardian managed investment scheme, suspended fund applications and withdrawals on 27 May 2024, subject to exceptions. A further court hearing is scheduled for 14 March 2025.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-28•Australia•Australian Securities & Investments Commission
ASIC's update for July to December 2024 highlighted shutting down over 10,000 investment scam websites and ads since July 2023. Court action was initiated against HSBC Australia for alleged customer protection failures, with noted anti-scam practice improvements needed in 15 banks. Enforcement saw a 31% rise in investigations, 15 new court actions, and AUD 46.6 million in penalties. Key actions involved NAB, QBE Insurance, Cbus trustee United Super, and Regional Express Holdings. Increased activity was due to organisational redesign, with 2025 priorities on preventing financial harm, focusing on banks, insurers, and superannuation trustees.
EnforcementEnforcement statisticsFraud and scams
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2025-02-28•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has adopted an updated Code of Ethics for its employees, aligning with reforms under the updated Law of Ukraine on State Regulation of Capital Markets. The revised Code, a structural benchmark under the IMF Memorandum on Economic and Financial Policy, was developed with input from the World Bank and IMF. Implementation is expected soon.
Policy & regulationRules & requirementsCorporate governance
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2025-02-28•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market announced that the Ukrainian Universal Exchange has transferred its clearing functions to Ukrainian Clearing House LLC, Ukraine’s first licensed clearing institution for commodity markets. This integration aims to enhance the reliability and transparency of exchange operations, with the Commission supporting international practices. The first transactions involving the clearing institution were completed in January 2025.
Policy & regulationImplementation, projects & pilotsMarket infrastructure
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2025-02-28•Ukraine•Ukraine National Commission on Securities and Stock Market
Ukraine’s National Commission on Securities and Stock Market added seven projects to its list of unreliable investment projects, totaling 414 "SCAM projects." The newly listed projects include King Academy, Asia-Inside, and Crystal Ball Markets. The NSSMC advises investors to perform due diligence and assess risks using its 10 key signs of unreliable investments.
SupervisionAlertsSanctions list update
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2025-02-28•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets (AFM) has issued guidance that companies offering "group insurance" alongside their main business may need to be authorised as insurance intermediaries by 1 October 2025, following a Court of Justice of the European Union ruling. Companies will require an AFM licence if they receive fees for allowing customers to opt into group policies. Exceptions apply where customers are automatically covered without choice or remuneration.
Policy & regulationGuidance & interpretationLicence approval
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2025-02-28•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has issued a warning about counterfeit USD 100 banknotes, advising the public and traders to exercise caution in US dollar transactions. It also reminded cash handlers to verify banknote authenticity using the Federal Reserve Bank’s U.S. Currency Education Program website.
SupervisionAlertsFraud and scams
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2025-02-28•Peru•Central Bank of Peru
The Central Bank of Peru reported that total exports in 2024 reached USD 75,916 million, a 12.4% increase year on year, accounting for 26.2% of GDP. Growth was driven by higher international prices and increased shipments in mining and fishing, with notable rises in non-traditional agricultural exports. In Q4 2024, exports rose 15.2% year on year, supported by higher prices for metals and coffee, and increased volumes in agriculture and metallurgy.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Ireland•Central Bank of Ireland
The Central Bank of Ireland's Regulatory and Supervisory Outlook for 2025 emphasizes a new supervisory approach for a more integrated view of financial regulation. Key risks remain largely unchanged, with rising operational risks from digitalization and third-party outsourcing, including cloud services, and increased cyber threats. The Central Bank plans regulatory simplification without compromising financial stability, resilience, or consumer protection.
SupervisionSupervision approach, priorities & toolkitFinancial stability and systemic riskSupervision process and methodologies
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2025-02-28•Costa Rica•Central Bank of Costa Rica
The IMF concluded its 2025 Article IV consultation with Costa Rica, recommending a data-dependent approach by the Central Bank to achieve its 3 percent inflation target. It highlighted potential monetary policy rate cuts if inflation convergence weakens and advised tighter macroprudential settings if credit growth becomes excessive. It also suggested reforms to deepen the foreign exchange market and enhance the central bank's governance and autonomy.
Policy & regulationInternational standards & recommendationsEconomic data and developmentsFinancial stability and systemic risk
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2025-02-28•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan’s Policy Board approved amendments to the insurance regulatory framework, enhancing resilience and diversifying capital sources. Changes include increased minimum paid-up capital for insurers, phased Risk-Based Solvency Regime implementation, and a framework for subordinated debt instruments. Amendments also standardize tax recording in life insurers’ financial statements and adjust government securities holdings requirements.
Policy & regulationRules & requirementsCapital adequacy
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2025-02-28•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan has approved amendments to the Modaraba Companies and Modaraba Ordinance, 1980, for submission to the Finance Division. The revisions introduce unlisted Modarabas, enhance investor protections, and expand the Commission's disciplinary powers. This initiative aligns with efforts to modernize the legal framework for Islamic financial institutions and eliminate Riba from the economy.
Policy & regulationRules & requirementsOther
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2025-02-28•Monaco•Ministry of Finance & Economy (Monaco)
Monaco's Ministry of Finance and Economy appointed Bruno Dalles as Director of the Monegasque Financial Security Authority (AMSF), succeeding Sophie Thevenoux. Dalles, currently Prosecutor General at the Court of Appeal of Nouméa, previously led TRACFIN and served as regional director of public finances in France.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-28•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported January bond issuance at CNY 5.10tn, with government bonds comprising CNY 1.02tn. Total bond custody reached CNY 178.2tn, with foreign institutions holding 2.3%, primarily in government bonds. Interbank spot bond turnover was CNY 26.0tn, while interbank lending volumes decreased to CNY 5.1tn.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-28•China•Central Bank of the Republic of China
The People's Bank of China reviewed 2024 achievements and set 2025 priorities at its conference on currency and bullion management. Key focuses include enhancing cash supply and services, advancing digital renminbi research and applications, and strengthening security measures. The plan also emphasizes anti-counterfeit governance, renminbi handling standards, and improved cross-functional coordination.
Policy & regulationReform agendas & prioritiesCurrency and cash management
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2025-02-28•Italy•Bank of Italy
The Bank of Italy has launched a new website section on the Cash in Shop service and a free self-learning course, "Conoscere le banconote," for merchants offering this cash withdrawal option. The course aids in identifying counterfeit and unfit euro banknotes, ensuring PSPs deliver the service with trained staff. PSPs can request an assessment test from the Bank of Italy for affiliated merchants to evaluate their banknote knowledge.
Policy & regulationGuidance & interpretationCurrency and cash management
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2025-02-28•Italy•Bank of Italy
The Bank of Italy was awarded the Eurosystem Procurement Coordination Office's first prize for "2024 Most Sustainable Procurement." This recognition was based on evaluations by European System of Central Banks representatives of its procurement performance and collaboration in cross-border joint procurement.
Institutional developmentCooperation & capacity buildingProcurement
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2025-02-28•United States•National Credit Union Administration
The National Credit Union Administration issued a consent order in February 2025, permanently barring Kelly Jo Muzzana, a former Altana Federal Credit Union employee, from involvement with any federally insured depository institution. The Order of Prohibition prevents future employment in such institutions and is part of the agency's enforcement actions under Section 206 of the Federal Credit Union Act.
EnforcementInvestigations & enforcement actions
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2025-02-28•Italy•Bank of Italy
The Bank of Italy received the first prize in the Eurosystem Procurement Coordination Office awards for "2024 Most Sustainable Procurement." The award highlights its achievements in procurement performance and cross-border collaboration among European System of Central Banks member central banks.
Institutional developmentCooperation & capacity buildingProcurement
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2025-02-28•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier has delayed notifying certain financial entities about exemptions from reporting major incidents on weekends or bank holidays. This postponement is due to the need for the NIS 2 Directive to be transposed into national law, as referenced in Article 5(5) of the regulatory technical standards under Commission Delegated Regulation (EU) 2025/301. Notifications will occur once the directive is transposed.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-02-28•United Kingdom•Financial Conduct Authority
The Financial Conduct Authority (FCA) announced Olumide Osunkoya's four-year imprisonment for unregistered cryptoasset activity involving crypto ATMs worth over GBP 2.5m, marking the UK's first criminal sentencing for such activity. Osunkoya pleaded guilty to operating crypto ATMs without FCA registration and using false identity documents. The FCA highlighted ongoing efforts with law enforcement to combat illegal crypto ATMs, noting a significant reduction in their presence across the UK.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-28•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Circular Letter DSP-0045 to modify operating hours for cheque clearing and settlement in Barranquilla due to the Barranquilla Carnival festivities.
Policy & regulationRules & requirementsPayments and payment systems
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2025-02-28•Colombia•Central Bank of Colombia
The Central Bank of Colombia issued External Operational and Services Circular DSP-155, detailing fees for low-value payment systems it administers.
Policy & regulationRules & requirementsPayments and payment systems
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2025-02-28•United States•Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis appointed Anand Krishnan as vice president in Supervision, Regulation, and Credit, where he will lead data-driven supervision efforts, including stress testing. Krishnan previously led the stress testing and risk identification team for large and foreign banking organizations.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-28•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 announced public discussions on the regulatory impact analysis results for draft laws concerning credit rating agencies and amendments to legislative acts on rating activity. The consultation will be conducted on the "Open Regulatory Legal Acts" portal.
Policy & regulationOtherCredit ratings
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2025-02-28•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 initiated public discussions on the "Open Regulatory Legal Acts" portal regarding regulatory impact analyses for draft laws on investment funds and related legislative amendments. The discussions will include amendments to the Administrative Offences Code.
Policy & regulationOther
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2025-02-28•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency amended auction rules for bank and microfinance assets. Changes include raising the initial auction minimum price to 100% of market value, adjusting auction sequencing and timing, and requiring direct named sales after three unsuccessful auctions. These measures aim to enhance the sale process for stressed assets.
Policy & regulationRules & requirementsOther
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2025-02-28•Austria•Austrian National Bank (OeNB)
The Austrian National Bank (OeNB) commemorates the centenary of the Schilling's introduction on 1 March 1925, highlighting its role in restoring confidence post-hyperinflation and the move to its new Vienna headquarters. The Schilling reform, facilitated by the Schilling Accounting Act and a League of Nations credit, set a conversion rate of 10,000 crowns to 1 schilling. To mark the anniversary, the OeNB will host exhibitions on the Schilling's history at the Money Museum and its cash hall.
Other
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2025-02-28•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its quarterly industry aggregate insurance statistical reports for December 2024, encompassing general, life, and private health insurance performance statistics.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-28•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority released its Monthly Authorised Deposit-taking Institution Statistics for January 2025, accessible on the APRA website.
Data & statisticsSupervisory data
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2025-02-28•Bulgaria•National Bank of Bulgaria
The National Bank of Bulgaria's quarterly Economic Review highlights a 2.6% year-on-year GDP growth in Q3 2024, driven by private consumption and household income. Household deposits rose by 11.8%, while credit growth reached 15.0%, led by housing lending. The review also notes easing inflation and labour shortages, with a focus on Bulgaria's export exposure to Germany amid its industrial sector challenges.
ResearchEconomic data and developments
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) released data on Hong Kong's foreign currency reserves and liquidity for January 2025, following the International Monetary Fund's Special Data Dissemination Standard. The HKMA outlined its monthly publication cycle for Exchange Fund data, including four press releases covering international reserves, central bank accounts, and the Exchange Fund's balance sheet.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported the Exchange Fund's assets at HKD 4,111.9 billion as of 31 January 2025, up HKD 29.5 billion from December 2024. The Currency Board Account showed a Monetary Base of HKD 1,995.0 billion, up HKD 37.4 billion, with Backing Assets rising to HKD 2,192.4 billion, raising the Backing Ratio to 109.90%. The HKMA highlighted its commitment to transparency by issuing four Exchange Fund data press releases monthly.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority reported a 1.4% increase in total deposits and a 0.2% decrease in total loans and advances for January 2025. The Hong Kong dollar loan-to-deposit ratio fell to 75.7% from 77.1% in December, driven by higher deposits and lower loans. Renminbi deposits rose by 6.5% to RMB 986.8 billion, while the HKMA noted that monthly figures can be volatile due to transient factors.
Data & statisticsMonetary data
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority's January 2025 residential mortgage survey reported a 3.3% increase in mortgage applications and a 17.6% rise in drawdowns, despite a 2.1% decline in approved loan value to HKD 25.0 billion. Primary market approvals rose by 15.5%, while secondary market and refinancing approvals fell. The shift towards HIBOR-referenced pricing continued, with its share rising to 93.0%.
Data & statisticsFinancial and market indicators
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority has announced the Phase 1 list of banks participating in its RMB Trade Financing Liquidity Facility, with RMB50 billion allocated from the total RMB100 billion facility. Bank-specific quotas are based on trade finance pipelines and business scale. The HKMA will review the facility's operation and market needs before proceeding with further quota allocations.
Policy & regulationImplementation, projects & pilotsLiquidity riskMarket development
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority alerted about a fraudulent website and internet banking login screen linked to China Construction Bank (Asia) Corporation Limited. HKMA emphasized banks won't send SMS or emails with embedded hyperlinks for transactions or request sensitive personal information through these channels. Affected customers should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert regarding fraudulent websites and internet banking login screens linked to Chiyu Banking Corporation Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-28•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens reported by The Bank of East Asia, Limited. The HKMA reminded the public that banks do not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Individuals who interacted with the fraudulent sites are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-02-28•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has issued letters to entities potentially non-compliant with the Beneficial Ownership Act, urging immediate remedial action. The letters warn of possible civil penalties for unresolved issues. Nominated officers needing a new Online Services access code are advised to obtain it via the Companies Registry.
SupervisionInterventionsBeneficial ownership
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2025-02-28•United Kingdom•UK Parliament
The UK Parliament's House of Lords has completed the committee stage of the Non-Domestic Rating (Multipliers and Private Schools) Bill. The bill proposes lower non-domestic rating multipliers for retail, hospitality, and leisure properties, higher multipliers for large properties with a rateable value above GBP 500,000, and the removal of business rate relief for private schools registered as charities. Amendments discussed included impacts on businesses, high streets, and community services.
Policy & regulationRules & requirementsOther
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2025-02-28•United States•Federal Reserve Bank of Kansas City
The Federal Reserve Bank of Kansas City's February Services Survey shows slight growth in Tenth District services activity, driven by the business sector, while the consumer sector remained flat. Price pressures persist, with input costs rising faster than output prices, and many firms passing only a small portion of cost increases to customers. The survey includes revised historical indexes due to new seasonal adjustment factors using Census X-13 ARIMA-SEATS.
Data & statisticsEconomic data and developments
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2025-02-28•India•Reserve Bank of India
The Reserve Bank of India issued instructions for agency banks on reporting Central Government transactions for March 2025, allowing residual March transactions to be closed by April 10, 2025, and accounted for in the 2024-25 financial year. Banks must segregate March residual transactions from April 2025 activity, with arrangements for timely year-end accounting. Transactions reported after April 10 will be accounted for in the month of report, regardless of the transaction date.
Policy & regulationGuidance & interpretationRegulatory reporting
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2025-02-28•Thailand•Thailand Office of Insurance Commission
Thailand Office of Insurance Commission Secretary-General Chuchat Pramoolpol advocated for copayment arrangements in health insurance to enhance the sustainability of Thailand’s health insurance market and public health system. At a forum organized by the Medical Governance Certificate for Senior Executives programme, the Office highlighted copayment's potential to reduce healthcare costs and balance cost allocation among providers, insurers, and the public.
Policy & regulationGuidance & interpretationOther
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2025-02-28•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan, in collaboration with KPMG and commercial banks, held a forum on data management and transitioning to a new data reporting model. The forum addressed the need for enhanced data transparency, reduced reporting burdens, and improved data quality. A panel discussed operational challenges and solutions for banks, with ongoing meetings planned to monitor progress.
Policy & regulationImplementation, projects & pilotsData protectionRegulatory burden
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2025-02-28•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan announced the second Financial Sector Assessment Program mission by the IMF and World Bank, from 26 February to 12 March. It will evaluate the insurance sector, capital markets, payment systems, corporate sector, and macroprudential policies, including stress tests and systemic risk analysis. The program involves multiple stakeholders and aims to provide reform recommendations, focusing on stability and financial-sector development.
Policy & regulationPeer reviews and country evaluationsFinancial stability and systemic riskMacroprudential policy and toolsSupervision process and methodologies
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2025-02-28•Europe•European Central Bank
ECB Executive Board member Piero Cipollone stresses digital payments' importance in Europe, highlighting the digital euro's role in reducing fragmentation and reliance on non-European providers. The European Commission's draft legislation would grant the digital euro legal tender status, with capped merchant fees and issuance costs borne by the Eurosystem. For wholesale markets, the Eurosystem's 2024 exploratory work focuses on linking TARGET Services to distributed ledger technology platforms for interoperability and a more integrated ecosystem.
Policy & regulationReform agendas & prioritiesCBDC
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2025-02-28•Europe•European Central Bank
The European Central Bank's report highlights the EU's reliance on international card schemes, with 61% of euro area card payments processed by these schemes in 2022. The report identifies a concentration of processing capacity, often under non-EU ownership, and underscores the need for an EU solution to enhance operational resilience and strategic autonomy in retail payments.
ResearchPayments and payment systems
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2025-02-28•Europe•European Central Bank
The European Central Bank's weekly consolidated financial statement of the Eurosystem reported total assets and liabilities at EUR 6,319.5bn, a decrease of EUR 30.1bn from the previous week. Key changes include a EUR 12.0bn decline in securities held for monetary policy purposes and a EUR 39.5bn reduction in monetary policy liabilities to euro area credit institutions. Banknotes in circulation increased by EUR 2.9bn to EUR 1,568.5bn.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•South Africa•South African Reserve Bank
The South African Reserve Bank's template on international reserves and foreign currency liquidity as of end-January 2025 reports official reserve assets of USD 65,876 million. It details short-term net drains, including central government outflows of USD 3,060 million in principal and USD 1,841 million in interest, and a net long position of USD 535 million in forwards and futures. Other contingent liabilities within one year total USD 860 million, with USD 62,739 million in SDR-basket currencies and USD 3,137 million in non-SDR currencies.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Spain•Bank of Spain
The Bank of Spain reported that Spain's current and capital account surplus rose to EUR 65 billion in 2024, the highest since 1993, driven by a larger tourism surplus. The financial account balance, excluding the Bank of Spain, reached EUR 106.9 billion, with significant contributions from "other investment" and direct investment.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported net foreign investment outflows of USD 283.69 million in January 2025, with gross inflows rising 25.0% month on month to USD 1,319.02 million, mainly in peso government and Philippine Stock Exchange-listed securities. The UK, Singapore, the US, Ireland, and Luxembourg accounted for 89.0% of inflows, while the US was the largest outflow destination. The central bank noted that registering inward foreign investments through authorized agent banks is optional unless foreign exchange is purchased for repatriation or remittance.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a VND 1,000,000 fee for the reissuance of securities practicing certificates, as per Ministry of Finance Circular 25/2022/TT-BTC. Payments can be made via bank transfer or directly to the Commission. Failure to collect the reissued certificate within one year will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-28•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a VND 1,000,000 fee for the reissuance of a securities practising certificate, as per the Ministry of Finance’s Circular No. 25/2022/TT-BTC. Payments can be made via bank transfer to designated accounts or directly at the Commission. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-28•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached schedule to pay a VND 1,000,000 fee for the reissuance of Securities Practising Certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer to specified accounts or directly at the Commission. Failure to complete the reissuance process within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-28•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority (FMA) won a High Court case against former CBL Group CFO Carden Mulholland for breaching continuous disclosure provisions of the Financial Markets Conduct Act 2013, marking the first New Zealand case to address a CFO's accessory liability under the Act. The Court found Mulholland liable for three disclosure breaches, with a penalty hearing pending and a related trial on alleged breaches during CBLC’s 2015 IPO set for April 2026.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-02-28•Estonia•Central Bank of Estonia
The Central Bank of Estonia reported a significant increase in the return of one and two-cent euro coins after implementing a cash rounding rule on 1 January 2025. This rule rounds cash payments to the nearest five cents, reducing the need for small coins while keeping them legal tender. The central bank expects the elevated returns to be temporary, with minimal consumer complaints due to effective retailer preparation and guidance.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-02-28•Singapore•Monetary Authority of Singapore
The Monetary Authority of Singapore and the Singapore Police Force warned of scams involving impersonation of Shopee staff, UnionPay representatives, and MAS officers, causing losses of at least SGD 1.4 million since January 2025. Scammers make unsolicited calls claiming insurance fees linked to Shopee, then request bank details and money transfers under false pretenses. MAS, Shopee, and UnionPay stressed they will never request personal information or payments through unsolicited communications.
SupervisionAlertsFraud and scams
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2025-02-28•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held a training for media on the regulatory framework for payment services, covering legal and supervisory procedures for payment institutions and systems. Khayaladdin Taghiyev discussed distinctions between payment system operators and service providers, foreign operation requirements, and fintech impacts. The event concluded with a meeting between Central Bank Chair Taleh Kazimov and media attendees.
Policy & regulationGuidance & interpretationPayments and payment systems
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2025-02-28•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan's Q4 2024 survey reveals tightened lending policies across business, mortgage, and consumer portfolios, with increased demand in each segment. Banks reported rising term deposits and higher funding costs due to stronger interbank competition. Expectations for the next quarter include stable credit standards and demand, except for anticipated higher mortgage demand and continued deposit growth.
Data & statisticsLending
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2025-02-28•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission reported a 122.95% year-on-year increase in Health Maintenance Organizations' net income, reaching PHP 979.8 million as of 31 December 2024, from a PHP 4.27 billion net loss. Total revenue rose 20.12% to PHP 79.37 billion, primarily due to an 18.43% increase in membership fees. Balance sheet metrics showed significant growth, with total assets up 23.85% and total liabilities up 26.44%.
Data & statisticsActivity and performance reporting
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2025-02-28•Philippines•Philippines Insurance Commission
The Philippines Insurance Commission reported a 146.93% year-on-year increase in Q4 2024 net income for the pre-need industry, reaching PHP 5.15 billion, driven by rises in investment and other income. Total assets grew 8.12% to PHP 164.71 billion, with trust fund investments comprising 84.79% of assets. Despite a slight decline in total premium income and a drop in plans sold, total net worth increased by 20.54% to PHP 27.98 billion, largely due to higher retained earnings.
Data & statisticsFinancial benchmarks
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2025-02-28•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia has launched applications for its 14th Scholar in Residence Fellowship Programme in Islamic finance at the Oxford Centre for Islamic Studies for the 2025/2026 academic year. The programme focuses on research areas such as Maqasid al-Shariah, Islamic social finance, fintech, and sustainable investments. The fellow will conduct research and engage in academic activities in Oxford starting October 2025.
Institutional developmentCooperation & capacity buildingFintech and insurtechESG
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2025-02-28•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia has authorized ACLEDA Bank Plc. to act as a government securities intermediary. An announcement ceremony highlighted the potential of investing in government securities and outlined the 2025 issuance plan and trading procedures.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-28•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia reported Malaysia’s international reserves as of end-January 2025 in the IMF Special Data Dissemination Standard format. Official reserve assets were USD116,351.0 million, with short-term outflows of USD10,976.0 million and net short forward positions of USD29,298.0 million. The reserves remain usable, with contingent short-term net drains limited to USD419.1 million in government-guaranteed foreign currency debt.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Global•Institute of International Bankers
The Institute of International Bankers and other banking associations asked the Cybersecurity and Infrastructure Security Agency to withdraw and revise its proposed cyber incident reporting rule, citing concerns over its broad scope and resource diversion from incident response. They advocate limiting reporting to significant incidents affecting critical services, clarifying applicability to U.S. operations, and reducing data retention periods to minimize costs.
Policy & regulationRules & requirementsCyber resilience
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2025-02-28•Philippines•Philippine Securities and Exchange Commission
The Philippine Securities and Exchange Commission has cancelled the lending licence and revoked the corporate registration of Surity Cash Lending Investors Corp. for violating unfair debt collection practices. The SEC found breaches of Memorandum Circular No. 18, Series of 2019, following complaints of abusive practices, including threats and public disclosure of borrowers' names. The order became final after Surity Cash did not appeal.
EnforcementInvestigations & enforcement actionsLending
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2025-02-28•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed six administrative penalties totaling CAD 35,000 on Maryam Hasaballah for breaches of Ontario’s mortgage brokering legislation. Violations included unsuitable mortgage recommendations, misleading information, and obstruction of an investigation. Hasaballah did not contest the penalties or request a hearing.
EnforcementInvestigations & enforcement actions
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2025-02-28•Uganda•Uganda Insurance Regulatory Authority
The Uganda Insurance Regulatory Authority has released an updated template (version V3.2) for the Annual Risk-Based Supervision Return, focusing on capital and capital adequacy ratio calculations. Insurers, reinsurers, and health maintenance organisations are required to submit this updated return promptly.
SupervisionRegulatory reporting
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2025-02-28•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported a current account deficit of EUR 920.77 million for 2024, a 26.24% increase year on year. The goods trade deficit rose 7.15% to EUR 4,926.82 million, with exports and imports increasing by 9.82% and 7.57%, respectively. The services account surplus grew by 9.99% to EUR 1,792.03 million, while direct investment in Kosovo reached EUR 856.06 million, up 1.90%.
Data & statisticsBalance of payments and other external statistics
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2025-02-28•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission has issued guidance for Stark Corporation bondholders on filing debt repayment claims in the bankruptcy case involving UOB (Thai) and Mr. Vonnarat Tangkaravakoon. Creditors must submit claims to the Legal Execution Department within two months of the Government Gazette publication on 11 February 2025. The process is governed by the Bankruptcy Act B.E. 2483 (1940), with repayment contingent on claim evidence and decisions by the official receiver or Central Bankruptcy Court.
Policy & regulationGuidance & interpretationOther
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2025-02-28•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji announced that the National Identification Steering Committee held its first meeting to establish the vision and strategy for Fiji's National Digital ID system, aimed at improving access to essential services. Co-chaired by Deputy Prime Minister Manoa Kamikamica and Reserve Bank Governor Ariff Ali, the committee approved a governance structure, budget, and timeline, with assistance from the Asian Development Bank.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-28•Canada•Financial Transactions and Reports Analysis Centre of Canada
FINTRAC issued guidance on reporting requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Entities must report terrorist and sanctioned property using a Listed Person or Entity Property Report, with immediate reporting required even without a transaction. The guidance outlines compliance expectations and record retention, effective March 2, 2025, for certain properties under federal orders and regulations.
Policy & regulationGuidance & interpretationAML and CFT
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2025-02-28•Europe•European Payments Council
The European Payments Council has released the EPC Directory Service Local File, a daily downloadable dataset in XML, JSON, or CSV format. This file provides payment service providers and Routing and/or Verification Mechanisms with updated API endpoints and PSP details. Access is available through an authenticated graphical user interface or EDS API for system integration.
Data & statisticsPayments and payment systems
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2025-02-28•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) has published capital requirements for Swedish banks and credit institutions in supervisory categories 1 and 2 as of Q4 2024, clarifying the impact of FI’s capital requirements, including Pillar 2. FI also begins disclosing "actual Common Equity Tier 1 (CET1) headroom" for major institutions, indicating the smallest headroom between available capital and regulatory requirements plus Pillar 2 guidance.
Policy & regulationGuidance & interpretationCapital adequacy
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2025-02-28•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) has begun publishing banks' actual Common Equity Tier 1 (CET1) headroom quarterly, starting with the "Capital requirements for Swedish banks, Q4 2024" report. This metric shows the CET1 buffer available to absorb losses before breaching regulatory requirements or Pillar 2 guidance. The publication includes data for major banks like Handelsbanken, SEB, and Swedbank, with details in an accompanying memorandum.
SupervisionRisk monitoring & watch pointsRegulatory reporting