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2025-02-17•India•Reserve Bank of India
The Reserve Bank of India allows government securities transactions between a Negotiated Dealing System – Order Matching (NDS-OM) primary member and its Gilt Account Holder, or between two Gilt Account Holders of the same primary member, to be matched on NDS-OM and settled through the Clearing Corporation of India Limited (CCIL). This applies to both anonymous Order Matching and Request for Quote segments, with optional CCIL clearing for bilaterally negotiated transactions reported to NDS-OM. Settlement failures will be treated as 'SGL bouncing' under existing penal provisions.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-17•India•Reserve Bank of India
The Reserve Bank of India amended its 2023 prudential directions for All India Financial Institutions (AIFIs), excluding certain long-term bonds and debentures from the 25% Held to Maturity (HTM) investment ceiling. This exemption applies to statutory mandate-driven investments with a minimum residual maturity of three years and affects institutions like the Export-Import Bank of India and the National Bank for Agriculture and Rural Development, effective April 1, 2025.
Policy & regulationRules & requirementsCapital adequacy
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2025-02-17•Mexico•CONDUSEF
Mexico's CONDUSEF has launched the ninth Trazos Financieros children’s drawing competition to promote financial education. The 2025 theme, “Financial Alert! Detect and avoid money leaks at home,” encourages children to illustrate ways to prevent risky financial behaviors. Winners will receive prizes from Banco Azteca and Banamex, including savings accounts and financial education kits.
Financial literacy & educationFinancial literacy and education
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2025-02-17•Middle East•Arab Monetary Fund
The Arab Monetary Fund attended the Al-Ula Conference 2025, highlighting five priorities to support Syria and stressing the importance of regional cooperation and coordination among institutions and participating countries.
Policy & regulationCooperationDomestic cooperation
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2025-02-17•Brazil•National Treasury (Brazil)
Brazil's National Treasury announced the 12th National Financial Education Week, focusing on "Financial Education for Children and Young People," from 12 to 18 May 2025. Organised by the Brazilian Forum for Financial Education, the event invites institutions to engage in initiatives aligned with the National Financial Education Strategy, promoting financial literacy without commercial interests.
Financial literacy & educationFinancial literacy and education
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2025-02-17•Jordan•Jordan Securities Commission
The Jordan Securities Commission issued a circular detailing the approved legal measures against public shareholding companies and auditors breaching disclosure instructions, effective 1 March 2025. A workshop to explain these measures will be conducted via Microsoft Teams.
Policy & regulationGuidance & interpretationDisclosures
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2025-02-17•Bulgaria•Ministry of Finance (Bulgaria)
Bulgaria's Ministry of Finance will request extraordinary Convergence Reports from the European Commission and the European Central Bank by February 2025 for euro area accession. Finance Minister Temenuzhka Petkova highlighted Bulgaria's progress and aims to adopt the euro by 1 January 2026, with Eurogroup countries supporting this ambition. The request aligns with Article 140 of the Treaty on the Functioning of the European Union and a 2024 National Assembly decision.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-17•South Africa•South African Reserve Bank
The South African Reserve Bank has issued nomination documents for shareholder-elected non-executive director positions, as three directors' terms will expire at the next AGM on 8 August 2025. Nominations are open to shareholders, SARB directors, and the public, with candidates needing expertise in industry and agriculture. The package includes forms and a candidate statement requiring disclosures on board roles, employment, and compliance with the South African Reserve Bank Act.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-17•Spain•Bank of Spain
The Bank of Spain reported Spain's general government debt at EUR 1.622 trillion in December 2024, a 2.9% increase year on year, with a debt-to-GDP ratio of 101.8%, down from 124.2% in March 2021. State debt rose to EUR 1.474 trillion, while Social Security debt increased to EUR 126 billion due to State loans. Autonomous community debt reached EUR 336 billion, and local government debt decreased to EUR 23 billion.
Data & statisticsBalance of payments and other external statistics
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2025-02-17•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines issued Circular No. 1210, revising the framework for appointing external auditors for supervised financial institutions (BSFIs). The updated rules amend regulations for banks and non-bank financial institutions, detailing selection constraints, eligibility requirements, and supervisory powers. The Circular outlines auditor classification, inclusion validity, performance assessments, and enforcement measures, including sanctions for non-compliance.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-17•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines informed authorized banks that a Bangko Sentral Registration Document (BSRD) for Sanofi Pasteur S.A.'s investment is lost and should not be honored. The document, BSRD No. A016017-DE, relates to 1,340,000 common shares and should not be accepted for capital repatriation or earnings remittance. A replacement has been applied for, per Section 38 of the Manual of Regulations on Foreign Exchange Transactions.
Policy & regulationGuidance & interpretationOther
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2025-02-17•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines reported a 3.0% year-on-year increase in personal remittances from Overseas Filipinos, reaching a record USD 3.73 billion in December 2024. For the full year, remittances totaled USD 38.34 billion, representing 8.3% of GDP and 7.4% of GNI. The rise was primarily driven by higher cash remittances from the United States, Saudi Arabia, Singapore, and the United Arab Emirates.
Data & statisticsBalance of payments and other external statistics
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2025-02-17•India•India International Financial Services Centres Authority
The India International Financial Services Centres Authority (IFSCA) has issued the IFSCA (Bullion Market) Regulations, 2025, replacing the 2020 regulations and expanding the framework to include all bullion market participants. Key updates include a minimum net worth requirement of USD 10 million for Bullion Exchanges and Clearing Corporations, with potential for higher thresholds based on risk. The regulations redefine key roles, broaden consumer definitions, and introduce a code of conduct, along with provisions for risk management and enforcement.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-17•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission issued a 2025 plan to enhance administrative procedure control, focusing on digital transformation to reduce compliance costs. The plan includes simplifying procedures, promoting electronic processing, and aligning with government programmes to streamline business regulations. It emphasizes decentralization, digitization, and improved administrative discipline with periodic reporting and evaluations.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-17•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 re-issuance of securities practising certificates, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to collect the re-issued certificate within one year will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-17•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission (SSC) has instructed individuals listed to pay a VND 1,000,000 fee for re-issuance of securities practising certificates under Ministry of Finance Circular 25/2022/TT-BTC. Payments can be made via bank transfer to SSC accounts at VietinBank or Vietcombank, or directly at the SSC. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-17•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam hosted its Economic and Investment Outlook 2025 event, focusing on geopolitical uncertainty, trade dynamics, and central bank policy impacts. BDCB Managing Director Hajah Rashidah binti Haji Sabtu emphasized increased market volatility and complex global cooperation. Discussions included US-China tensions, trade restrictions, and implications for small open economies and financial markets.
ResearchEconomic data and developmentsGeopolitical risk
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2025-02-17•Brunei Darussalam•Central Bank of Brunei Darussalam
The Central Bank of Brunei Darussalam outlined its near-term policy priorities at Standard Chartered’s Global Research Briefing H1 2025, focusing on technological innovation, sustainable finance, and crisis preparedness. Key initiatives include launching a Sustainable Finance Roadmap in 2025 and developing a second Financial Sector Blueprint for 2026–2035. The address highlighted global economic projections, the impact of generative AI, and the need for coordinated action to address climate-related risks and greenwashing.
Policy & regulationReform agendas & prioritiesClimate risk and sustainable finance
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2025-02-17•Europe•European Council
The European Council updated the February Eurogroup meeting, highlighting the 2025 euro area economic policy recommendation and the Eurogroup work programme through July. The programme emphasizes budget coordination, capital markets union, banking union progress, productivity-focused competitiveness, and common currency issues, including the digital euro. The Eurogroup also discussed Bulgaria's progress towards euro adoption, noting the need for ad hoc convergence reports from the European Commission and the European Central Bank.
Policy & regulationReform agendas & prioritiesOther
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2025-02-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) will hold a judgment session on 18 February to assess alleged unauthorized securities portfolio management by Bruno Guilherme Santana Silva and Scallper Brasil Traders Ltda. The case involves potential breaches of Article 23 of Law 6,385 and Article 2 of CVM Resolution 21. The session will be public, with options for in-person or videoconference attendance.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-17•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission announced the 12th National Financial Education Week, scheduled for 12-18 May 2025, focusing on financial education for children and young people. Organised by the Brazilian Financial Education Forum, the event invites institutions to contribute activities aligned with the National Financial Education Strategy, emphasizing public interest and prohibiting product promotion.
Financial literacy & educationFinancial literacy and education
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2025-02-17•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority secured High Court orders against Rangi Wyatt Stephen Savage Senior, mandating him to pay NZD 126,214 in compensation and a NZD 142,500 penalty for breaching the Financial Markets Conduct Act 2013 by making false representations and offering shares without a Product Disclosure Statement. Additionally, Savage is banned for six years from being a director or promoter in New Zealand.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-17•Singapore•Monetary Authority of Singapore
The Singapore Police Force, Cyber Security Agency of Singapore, and Monetary Authority of Singapore issued a joint advisory on unauthorized card transactions via contactless Near Field Communication mobile payments. Criminals phish card credentials to add them to mobile wallets, causing significant financial losses. The agencies are working with banks and service providers to curb this trend and advise consumers on enhancing security practices.
SupervisionAlertsFraud and scams
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2025-02-17•Oman•Oman Financial Services Authority
The Oman Financial Services Authority, in collaboration with the Central Bank of Oman, has launched the "Knowledge Bites" educational programme for fintech companies. The initiative includes workshops on licensing, regulatory compliance, anti-money-laundering, and fundraising, targeting fintech firms, investors, and entrepreneurs. This effort aims to bolster digital finance and the growth of Oman’s fintech ecosystem.
Financial literacy & educationFintech and insurtechFinancial literacy and education
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2025-02-17•Oman•Oman Financial Services Authority
The Oman Financial Services Authority held a workshop on using artificial intelligence to improve policyholder data accuracy in the insurance sector. Experts from Japan and Slovakia joined local insurers to discuss AI's role in streamlining processes, fraud detection, cost reduction, and sustainability. The FSA emphasized modernizing insurance services while upholding high data standards.
Policy & regulationCooperationArtificial intelligence
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2025-02-17•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia hosted a study visit by the General Department of Taxation to discuss recording public shareholder information in Cambodia's securities market. ACLEDA Bank Plc representatives presented on their role as securities registrar, transfer, and paying agent in both primary and secondary markets.
Policy & regulationCooperationOther
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2025-02-17•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia has issued Regulatory Sandbox Guidelines detailing eligibility criteria and application requirements for testing innovative capital market products or services. Proposals must be novel to Malaysia, not fully align with existing frameworks, and offer clear value to the Malaysian capital market. Emphasis is placed on financial inclusiveness, Islamic finance, and retirement solutions.
Policy & regulationGuidance & interpretationFintech and insurtech
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2025-02-17•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia and the Monetary Authority of Singapore co-chaired the ASEAN Working Committee on Capital Market Development meeting to review progress and align 2025 priorities with the ASEAN Economic Community Strategic Plan 2026-2030. Discussions included the Sustainable Finance and Infrastructure Finance Working Groups, the ASEAN Bond Market Development Scorecard, and updates on the ASEAN Sustainable Finance Support Hub. Hosted in Penang, the meeting included participants from 10 countries, the ASEAN Secretariat, and other regional financial institutions.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-02-17•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia co-chaired an ASEAN meeting on capital market development with the Monetary Authority of Singapore and the Securities Commission Malaysia. Discussions included updates on regional initiatives like the ASEAN Economic Community, Infrastructure Finance, Sustainable Finance Working Groups, and the Joint Sustainable Finance Work Plan 2024–2025. The meeting in Penang involved representatives from ASEAN member countries and international participants.
Policy & regulationCooperationMarket development
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2025-02-17•Zambia•Bank of Zambia
The Bank of Zambia has taken possession of ECSPONENT Financial Services Limited, trading as MyBucks Zambia, due to insolvency under Section 64 of the Banking and Financial Services Act, 2017. This measure aims to protect depositors and creditors and prevent a disorderly exit. The central bank will prepare a statement of affairs and undertake actions as per Section 73 of the Act.
SupervisionInterventionsRecovery and resolution
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2025-02-17•Malaysia•Bank Negara Malaysia
Bank Negara Malaysia, Bank Indonesia, and the Bank of Thailand have adopted harmonised Local Currency Transaction Framework Operational Guidelines, expanding eligible cross-border transactions to include portfolio investments. The guidelines aim to enhance consistency, scalability, and efficiency, while accommodating local regulatory requirements. Additional qualified commercial banks are invited to support the framework, facilitating local currency transactions and reducing exchange rate risks.
Policy & regulationCooperationCross-border payments
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2025-02-17•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria issued a circular clarifying disclosure requirements for dormant accounts and unclaimed balances under its 2024 guidelines, addressing concerns about the Nigeria Data Protection Act 2023. It permits limited information disclosure, including account name, type, bank name, and branch, on bank websites or in national newspapers, aligning with Section 25(b) of the Data Protection Act and Section 72(ii) of the Banks and Other Financial Institutions Act.
Policy & regulationGuidance & interpretationOther
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2025-02-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority prioritized digital transformation and sustainability in the non-banking financial sector at CFA Society Egypt’s conference. Initiatives include reviewing AI-based robo-advisory for insurance and investment funds and potential collaboration on a sustainability reporting competition. The Authority also noted applications for new metals funds following the launch of three gold investment funds.
Policy & regulationReform agendas & prioritiesOther
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2025-02-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority revised the Egyptian Exchange’s listing and delisting rules for a more flexible SPAC framework. Changes include allowing acquisitions by merger, adjusting post-acquisition trading conditions, and easing lock-up requirements for SPAC founders and board members. Founders of small and medium-sized companies are exempt from maintaining a third year of stable ownership if transferring shares to the main market.
Policy & regulationRules & requirements
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2025-02-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority amended rules on delisting, share splits, and mergers for listed and unlisted companies. Key changes include a 25-day maximum for delisting, new requirements for asset and liability assessments in mergers, and conditions for capital increases and stable ownership. The amendments also introduce criteria for share splits and tighten asset disposal requirements based on consolidated financial statements.
Policy & regulationRules & requirementsCorporate governance
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2025-02-17•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority has amended the voluntary delisting regime and the process for approving remuneration and incentive schemes. Key changes include a "majority of minority" voting condition for controlled companies, revised investor exit protections, and a shift of incentive-scheme filings to the Authority to expedite approvals. Companies must submit disclosure reports within two business days and convene general assemblies within one week of approval.
Policy & regulationRules & requirementsCorporate governance
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2025-02-17•Norway•Norwegian Finanstilsynet
The Financial Supervisory Authority of Norway and the Norwegian Data Protection Authority have selected five projects for a regulatory sandbox to explore data sharing for economic crime prevention, addressing legal conflicts. Participants include DNB, Norsk Regnesentral, SpareBank 1, Nordea, Eika, BankID BankAxept AS, BN Bank, and Finans Norge Forsikringsdrift. The sandbox aims to clarify regulatory questions and assess potential regulatory development needs.
Policy & regulationImplementation, projects & pilotsAML and CFTRegulatory sandbox
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2025-02-17•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority released its 2024 supervisory area reports, detailing oversight activities, priorities, and regulatory developments in the financial sector. The reports include data on authorised firms and supervisory inspections conducted throughout the year. An annual report with further assessments and financial accounts is expected in late April.
SupervisionSupervision approach, priorities & toolkitAuditing
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2025-02-17•Malta•Malta Financial Services Authority
The Malta Financial Services Authority reviewed compliance functions among 49 authorised local Company Service Providers, noting improved effectiveness and governance. It highlighted strong board-level engagement and areas for improvement, such as alternative arrangements for Compliance Officer absences and enhanced client file review procedures. A Dear CEO letter outlined supervisory expectations and urged CSPs to conduct a gap analysis.
SupervisionReviews, inspections & stress testsCompliance
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2025-02-17•Argentina•Argentina Securities Commission (CNV)
Argentina Securities Commission President Roberto E. Silva spoke to the US Certified Financial Planning Board in Buenos Aires about Argentina's regulatory framework and investment attraction via capital markets. He stressed aligning regulations with international standards to boost investor credibility in cross-border transactions. The event also featured Argentina’s Secretary of Finance, Pablo Quirno, introducing the Large Investment Incentive Regime, with participation from the Central Bank of the Argentine Republic.
Policy & regulationCooperationCross-border cooperation
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2025-02-17•Thailand•Bank of Thailand
The Bank of Thailand, Bank Indonesia, and Bank Negara Malaysia have adopted harmonised Local Currency Transaction Framework Operational Guidelines, expanding the framework to include portfolio investments. This initiative aims to streamline processes, improve transparency, and broaden local currency use for cross-border transactions, mitigating exchange rate risk. Additional qualified commercial banks are invited to support the framework.
Policy & regulationCooperationCross-border payments
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2025-02-17•Cape Verde•Bank of Cape Verde
The Bank of Cape Verde's Securities Market General Audit is conducting a public consultation on a draft instrument for the issuance of Cape Verde diaspora bonds. A webinar will be held to present the proposal's main provisions and engage with stakeholders, including the Cape Verde Stock Exchange and potential issuers.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-02-17•Qatar•Qatar Financial Centre
The Qatar Financial Centre has reduced the application fee for licensing entities for non-regulated activities by 90% to USD 500. This change excludes Single Family Offices and is part of broader efforts to simplify business set-up, including an instant incorporation process for eligible applicants.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-02-17•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas released its February 2025 secondary market price list for Bahamas Registered Stock (BRS), detailing bid and ask quotations and indicated yields for securities. The list includes fixed-rate and floating-rate BRS with yields from 2.95% to 6.65%, identified by ISIN, and provides details such as issue and maturity dates, nominal value, and coupon rates. Floating-rate securities adjust their coupon semi-annually based on the prevailing six-month market rate.
Data & statisticsFinancial and market indicators
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2025-02-16•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong MPFA announced enhancements to the eMPF Platform before Phase 2 onboarding, including interface refinements and increased contractor responsiveness. Operational capacity will expand with a 60% increase in contractor manpower during 2025, alongside improved employer training and administrative practices. Nearly 200,000 transaction instructions have been processed since June 2024, with two-thirds completed electronically.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-16•Europe•European Central Bank
The European Central Bank's working paper analyzes how investment funds adjust euro area sovereign bond portfolios during perceived euro-related institutional crises. The study finds funds act procyclically by selling periphery sovereign debt without significantly increasing core holdings, with domestic investors absorbing these sales. The authors suggest closer monitoring of investment funds to detect early signs of market fragmentation affecting monetary policy transmission.
ResearchMarket risk and volatility
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2025-02-16•Europe•European Central Bank
The European Central Bank released a working paper proposing "Risk-Adjusted Inflation Targeting" (RAIT) to address asymmetric inflation risks in the U.S. The paper suggests shifting inflation expectations opposite to prevailing skews and demonstrates RAIT's improved forecast performance over traditional models. RAIT would have adjusted monetary policy timing during the 2010s deflationary bias and recent inflation surge.
Research
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2025-02-16•Jordan•Jordan Securities Commission
The Jordan Securities Commission signed a memorandum of understanding with the Jordanian Association of Certified Public Accountants to enhance cooperation in implementing international accounting standards and governance in the capital market. The agreement includes exchanging expertise, conducting joint research, and sharing information within legal frameworks.
Policy & regulationCooperationDomestic cooperation
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2025-02-16•Iraq•Central Bank of Iraq
The Central Bank of Iraq concluded its first quarterly meetings for 2025 with the US Treasury and Federal Reserve, focusing on banking reforms, particularly tighter controls on US dollar distribution and foreign transfers. Participants, including EY and Oliver Wyman, praised measures to limit manipulation and smuggling, urging reliance on official channels to prevent misinformation about international sanctions on Iraqi banks.
Policy & regulationCooperationCross-border cooperation
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2025-02-16•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority and the Saudi Commission for Health Specialties signed an agreement to develop healthcare practitioners in the insurance sector. Cooperation will cover practitioner classification and registration, training, workforce planning and potential research.
Policy & regulationCooperationOperational excellence
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2025-02-16•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority has launched the TAMEEN portal, providing insurance companies with 36 digital regulatory services. These include 22 licensing and approval services and 14 supervisory and regulatory services.
Policy & regulationImplementation, projects & pilotsRegtech and suptechComplianceRegulatory reporting
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2025-02-15•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye has prohibited legal entities from opening or renewing FX-protected deposit accounts (KKM), including YUVAM accounts, effective 15 February 2025. Legal-entity KKM balances are also excluded from KKM renewal and transition-to-Turkish-lira (TRY) targets.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-02-15•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority participated in a BAKWATA conference to promote insurance education and encourage health insurance uptake as the 2023 universal health insurance law is implemented. TIRA emphasized the benefits of low-cost health insurance and highlighted the ongoing phased distribution of 10,000 policies, with 1,093 already provided.
Financial literacy & educationFinancial literacy and education
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2025-02-15•Italy•Bank of Italy
The Bank of Italy released Governor Fabio Panetta's speech for the 31st ASSIOM FOREX Congress in Turin, titled "The world economy between uncertainty and transformation," along with PDF, ePub, and video formats.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-15•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 and the National Bank are enhancing measures to curb household indebtedness and boost real economy lending. Initiatives include tightening borrower solvency assessments, introducing debt burden limits, and considering additional regulatory measures. Discussions also focused on establishing an SME loan guarantee fund and strengthening a Project Office for large investment projects through syndicated lending.
Policy & regulationImplementation, projects & pilotsLiquidity riskPrudential risks
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2025-02-15•Jordan•Central Bank of Jordan
Central Bank of Jordan Governor Adel Sharkas, at the Jordan Banking Summit 2025, emphasized monetary stability with foreign reserves exceeding USD 21 billion and a capital increase to JOD 100 million. He noted a decrease in dollarization to 18.4%, inflation easing to 1.6%, and projected real GDP growth of 2.4% in 2024 and 2.7% in 2025, while highlighting export growth, tourism income, and foreign investment inflows.
Monetary policyMonetary policy assessments & outlooks
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2025-02-15•China•China Securities Regulatory Commission
The China Securities Regulatory Commission (CSRC) expelled Dong Guoqun, former deputy general manager of the Shanghai Stock Exchange, from the Communist Party and dismissed him from public office after a disciplinary review. The investigation revealed serious misconduct, including obstruction of investigations, breaches of Party rules, and market-related corruption involving large sums. The case has been transferred to the procuratorate for criminal prosecution.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-02-14•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg released a study by Gianni Amisano and Roberta Colavecchio on the relationship between monetary aggregate growth and medium-term inflation risks in the U.S. and euro area. The research finds a non-linear relationship, with faster money growth indicating a higher probability of entering a high inflation regime, particularly in certain historical periods. The study employs a regime-switching approach, highlighting predictive value in the 1970s, early 1980s, and post-pandemic era, while noting limited signals from 1990 to 2021.
Research
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2025-02-14•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority (MPFA) highlighted 2025 as a pivotal year for the MPF System, with reforms including the onboarding of all MPF trustees to the eMPF Platform and the abolition of the MPF offsetting arrangement. Plans for "full portability" of MPF benefits are also underway, alongside efforts to reduce fees and increase voluntary contributions.
Policy & regulationReform agendas & prioritiesOther
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2025-02-14•Global•Egmont Group
At the No Money for Terror ministerial conference in Munich, Egmont Group Executive Secretary Jerome Beaumont emphasized the critical role of Financial Intelligence Units (FIUs) in combating terrorist financing through multilateral information exchange and innovation. Beaumont advocated for public-private partnerships and highlighted the Egmont Centre of FIU Excellence and Leadership (ECOFEL) as a key initiative for enhancing FIU capabilities.
Policy & regulationCooperationAML and CFTFinancial inclusion
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2025-02-14•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo updated its Strategic Plan 2024–2028, focusing on enhancing financial-system integrity and expanding access to financial services, especially in minority communities. Key developments include more financial institution offices, increased Kosovo Interbank Payment System (KIPS) transactions, and a shift towards electronic payment instruments. The bank plans to develop legal, regulatory, and technical infrastructure to support these initiatives.
Policy & regulationImplementation, projects & pilotsFinancial inclusionMarket development
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2025-02-14•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo has launched a competition for primary school pupils to create artworks on financial education themes, with winners announced during International Money Week 2025. Submissions can be individual or group entries in various formats, with the top 10 entries receiving EUR 100 each. Winning works will be used for educational purposes by the central bank.
Financial literacy & educationFinancial literacy and education
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2025-02-14•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo has launched a video competition for upper secondary students to enhance financial literacy through short videos on finance and economics. Five winners will receive EUR 200 each, with submissions due by 5 March 2025. Winning videos will be used as educational materials by the Central Bank.
Financial literacy & educationFinancial literacy and education
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2025-02-14•Europe•European Securities and Markets Authority
The European Securities and Markets Authority has initiated a Common Supervisory Action with national competent authorities to evaluate compliance and internal audit functions at UCITS management companies and Alternative Investment Fund Managers across the EU. The review will use a common assessment framework to ensure firms meet requirements under the UCITS and AIFM Directives. ESMA aims to foster supervisory convergence and will publish a report in 2026.
SupervisionReviews, inspections & stress testsComplianceSupervision process and methodologies
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2025-02-14•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo reported an increase in total assets to EUR 1.68 billion and international reserves to EUR 1.31 billion at the end of January 2025. The rise in total assets was mainly due to higher deposits from the Kosovo budget, the Deposit Insurance Fund, and public non-financial corporations, while international reserves grew primarily from increased deposits and investments in securities. Foreign investments in deposits and securities decreased by EUR 28.04 million month on month.
Data & statisticsBalance of payments and other external statistics
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2025-02-14•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance held financial education seminars in Moshi Municipality, advising citizens to invest savings securely. The sessions highlighted investment options in Tanzania’s capital markets, including shares, bonds, and collective investment schemes, with potential returns like dividends and bond coupon income. UTT Asset Management and Investor Services emphasized investing through registered institutions, noting minimum entry amounts for mutual funds and indicative annual returns.
Financial literacy & educationFinancial literacy and education
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2025-02-14•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance, with local financial institutions, held financial education sessions in the Kilimanjaro Region, highlighting risks of borrowing from unregistered lenders. The initiative urged financial service providers to register under the Microfinance Services Act 2018 and advised citizens to verify lenders' legal status and report unregistered groups. The program also covered savings discipline and identifying harmful loan products.
Financial literacy & educationFinancial literacy and education
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2025-02-14•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has revised its criteria for identifying key enterprises in capital and commodity markets to align with current legislation. The updated criteria clarify which companies are strategically important and which employees qualify for reservations, in agreement with the Ministry of Economy and the Ministry of Defense. The criteria will take effect following state registration with the Ministry of Justice of Ukraine.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-14•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has drafted a regulatory act to create a Commission-run database of clients and assets, aiming to resolve issues for Freedom Finance Ukraine LLC clients and facilitate asset returns. Following a Presidential Decree, it includes steps to inspect and approve non-sanctioned clients and establish asset recovery procedures. The Commission plans to approve the draft at its next meeting and open it for public discussion before final adoption.
Policy & regulationRules & requirementsClient asset custody and safekeeping
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2025-02-14•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank President Klaas Knot warned at the High Level IMF Constituency Meeting that geo-economic fragmentation is raising economic costs and financial stability risks. He stressed the need for central banks to defend the international rules-based financial order and maintain cross-border policy relationships. Knot also advocated for further European integration and highlighted the IMF constituency as a forum for closer cooperation.
Policy & regulationReform agendas & prioritiesGeopolitical risk
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2025-02-14•Netherlands•Dutch Authority for the Financial Markets
The Dutch Authority for the Financial Markets published a column by Chair Laura van Geest, emphasizing the need for better preparation for low-probability shocks amid rising US policy uncertainty under President Donald Trump. Van Geest highlights potential economic impacts, including shifts in global reserve currency confidence, increased euro-denominated trade, and implications of US fossil fuel production and crypto policies on global financial stability. The column underscores the importance of agility in Europe's response to these challenges.
SupervisionSupervision approach, priorities & toolkitOther
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2025-02-14•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
A MONEYVAL delegation, led by President Nicola Muccioli, participated in the "No Money for Terror" conference in Munich, emphasizing multilateral cooperation in combating terrorist financing. Muccioli highlighted joint efforts with the Financial Action Task Force and other entities, discussing best practices and challenges. The event gathered over 200 officials and experts from various countries and international organizations.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-02-14•Ireland•Central Bank of Ireland
The Central Bank of Ireland has acquired a 29.5-acre site in Balseskin, Fingal for EUR 14 million to develop a new cash centre, pending planning permission. This investment, funded from the Bank's resources, aims to replace the outdated Sandyford facilities and support cash availability. Cash operations will continue at Sandyford until the new centre is completed, expected to take at least seven years.
Institutional developmentProcurement
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2025-02-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported China's aggregate social financing outstanding reached CNY 415.2 trillion at the end of January 2025, marking an 8% year-on-year increase. RMB loans to the real economy totaled CNY 257.71 trillion, while government bonds rose to CNY 81.78 trillion. The data now includes consumer finance, wealth management, and financial asset investment companies, reflecting adjustments in RMB loan and loan write-off statistics.
Data & statisticsMonetary data
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2025-02-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported end-2024 Q4 credit statistics, with RMB loans outstanding at CNY 255.68tn, a 7.6% increase year-on-year. Notable growth was seen in green lending (+21.7%) and inclusive small and micro loans (+14.6%). The report also highlights statistical scope changes, including adjustments to the definition of inclusive small and micro loans and the rural-area statistical perimeter.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-14•China•Central Bank of the Republic of China
The People's Bank of China reported a CNY 7.06 trillion increase in total social financing for January 2025, up CNY 583.3 billion from the previous year. RMB loans to the real economy rose by CNY 5.22 trillion, while foreign-currency loans decreased by CNY 39.2 billion. The data reflects adjustments in statistical coverage since January 2023, including consumer finance and wealth management companies.
Data & statisticsMonetary data
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2025-02-14•Italy•Bank of Italy
The Bank of Italy released Vice Director General Chiara Scotti's keynote speech, "A journey into the future of the financial system," from the 31st ASSIOM FOREX congress in Turin, along with an interview with Claudia Segre for Lettera magazine.
Policy & regulationOtherMonetary policy decisions and developments
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2025-02-14•Indonesia•Bank Indonesia
Bank of Indonesia's Residential Property Price Survey for Q4 2024 shows limited growth in primary-market residential property prices, with a 1.39% year-on-year increase in the Residential Property Price Index. Sales contracted by 15.09% year on year, mainly due to weaker sales of small and medium houses. Developers primarily used non-bank internal funds for financing, while housing loans from banks were the main source for buyers.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-14•United States•National Association Of Insurance Commissioners
The National Association of Insurance Commissioners' 2025 roadmap, "Securing Tomorrow: Advancing State-Based Regulation," focuses on consumer protection and solvency monitoring. Key initiatives include enhancing communication, modernizing the Risk-Based Capital framework, and addressing regulatory arbitrage. The plan emphasizes financial literacy and international engagement, with NAIC committees leading efforts in artificial intelligence and health insurance market dynamics.
Policy & regulationReform agendas & prioritiesOther
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2025-02-14•Finland•Bank of Finland
The Parliamentary Supervisory Council has recommended Olli Rehn for a second term as Chair of the Board and Governor of the Bank of Finland, starting 12 July 2025. The appointment, following a proposal from the Government, will be made by the President of the Republic. Rehn has served as Governor since 2018, with the position allowing for a seven-year term and a second term.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-14•Bosnia and Herzegovina•Banking Agency of the Federation of Bosnia and Herzegovina
The Banking Agency of the Federation of Bosnia and Herzegovina released preliminary data on key performance indicators for banking entities as of 31 December 2024. Final data will be available in the quarterly publication "Information on entities of the banking system."
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-14•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
Hong Kong's Financial Services and the Treasury Bureau has gazetted six pieces of subsidiary legislation to establish the operational framework for the uncertificated securities market (USM) regime, eliminating paper-based securities transfers. The package includes rules to enhance market efficiency, infrastructure, investor protection, and transparency, developed with industry input and consultations by the Securities and Futures Commission. The legislation will be tabled for negative vetting by the Legislative Council on February 19, with commencement pending approval.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-02-14•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 emphasized connecting the Kazakhstan Stock Exchange and Astana International Exchange to the Tabadul Digital Hub. This initiative aims to integrate Kazakhstan’s markets with international partners, enhance liquidity, and create new investment opportunities. The agency noted capital market growth indicators, including equity market capitalisation of USD 63 billion and corporate bonds outstanding of USD 26 billion.
Policy & regulationCooperationMarket development
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2025-02-14•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 Nasser Abdullah S M Al-Sharif as chair of the board of directors and an independent director of Bereke Bank JSC, a subsidiary of Lesha Bank LLC (Public).
SupervisionAuthorisations & approvalsLicence approval
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2025-02-14•Hong Kong•Hong Kong Securities & Futures Commission
The Hong Kong Securities and Futures Commission convened the first meeting of the Virtual Asset Consultative Panel for licensed virtual asset trading platforms. This forum aims to inform regulatory policy, set priorities for market development, and ensure investor safeguards. Chaired by Dr. Eric Yip, the panel includes senior management from all licensed platforms to support innovation and regulatory compliance.
Policy & regulationImplementation, projects & pilotsFintech and insurtechMarket development
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2025-02-14•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about several websites not authorized to provide investment services under Article 5 of Law 87(I)/2017. CySEC advises investors to verify firm licenses on its website before engaging in business.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-02-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority released the key analytical accounts of the Exchange Fund as of end-January 2025, under the International Monetary Fund Special Data Dissemination Standard. Foreign assets increased by HKD 8.1 billion to HKD 3,486.5 billion, with the Monetary Base at HKD 1,995.0 billion. The HKMA issues four Exchange Fund data press releases monthly, including SDDS monetary data and transparency releases.
Data & statisticsMonetary data
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2025-02-14•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission attended the Asian Forum of Insurance Regulators 19th Annual Meeting and the 7th Asia-Pacific High-Level Meeting on Insurance Supervision in Kathmandu. The meetings addressed bridging protection gaps and climate risk, discussing supervisory reform, risk-based solvency supervision, and regulators' roles in reducing insurance protection gaps. Thailand's crop insurance scheme was highlighted as a tool to expand coverage against natural catastrophes.
Policy & regulationCooperationCross-border cooperation
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2025-02-14•Europe•European Central Bank
The European Central Bank's Working Paper No 3027 analyzes the diffusion of climate-change policies and technologies across countries, highlighting that higher-quality institutions and governance enhance diffusion speed and spread. The study uses a standard S-curve diffusion model on 1996–2020 data, emphasizing consistent institutional effects on technology diffusion and the OECD Environmental Policy Stringency index.
ResearchClimate risk and sustainable finance
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2025-02-14•Europe•European Central Bank
ECB President Christine Lagarde highlighted the ECB's assessment of renewable energy's impact on inflation, emphasizing monitoring electricity markets and researching renewable investment and price dynamics. The ECB noted that renewables, with high fixed but lower marginal costs, could reduce energy prices and enhance resilience to fossil-fuel disruptions. Climate change considerations are integrated into ECB's corporate bond purchases and future structural monetary policy operations.
ResearchClimate risk and sustainable finance
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2025-02-14•Europe•European Central Bank
The European Central Bank's latest Eurosystem financial statement reports total assets at EUR 6.37tn, a decrease of EUR 2.1bn from the previous week. Securities held for monetary policy purposes fell by EUR 4.9bn to EUR 4.23tn, while liabilities to euro area credit institutions related to monetary policy operations decreased by EUR 11.4bn to EUR 3.05tn. The decline in monetary policy holdings was partly offset by a EUR 3.1bn rise in other securities.
Monetary policyMonetary policy instruments & operationsBalance of payments and other external statistics
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2025-02-14•Mexico•CONDUSEF
Mexico's National Commission for the Protection and Defence of Users of Financial Services (CONDUSEF) reported a 21.1% increase in complaints in Quintana Roo for 2024, with credit and debit cards being the most complained-about products. Multiple banking accounted for 57.9% of complaints, with 40.8% resolved in users' favor. CONDUSEF emphasized its free procedures and warned against third parties charging for complaint processing.
SupervisionRisk monitoring & watch pointsComplaints and dispute resolution
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2025-02-14•Bulgaria•Ministry of Finance (Bulgaria)
Bulgaria's Ministry of Finance released a chronology on the National Plan for euro introduction, addressing MP Assen Vassilev's comments. It includes the 2015 establishment of a Coordination Council, Bulgaria's 2018 steps towards ERM II and Banking Union, and the 2020 inclusion of the lev in ERM II. The National Plan was approved by the Coordination Council in June 2021, submitted in December 2021, adopted in May 2022, and updated in November 2023.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-02-14•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines and the Bank for International Settlements co-hosted a workshop in Panglao, Bohol, on macroeconomic modelling, focusing on emerging approaches and challenges. Discussions included modelling frameworks, non-linear dynamics, and lessons from post-COVID-19 inflation, with calls for strategic reviews and enhanced market surveillance. The event featured 30 participants from 14 central banks, the BIS, and the International Monetary Fund.
Policy & regulationImplementation, projects & pilotsMonetary policy decisions and developments
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2025-02-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an attached notice to pay a VND 1,000,000 fee for the re-issuance of securities practice 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 procedure within one year will result in certificate cancellation.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-02-14•Romania•Romanian Financial Supervisory Authority
The Romanian Financial Supervisory Authority reported a 11% increase in consumer Call Center enquiries for 2024, totaling 13,386, with over 90% consumer satisfaction. Private pensions led the enquiries, followed by insurance and reinsurance, with most calls resolved within five minutes. The public relations unit also made 2,211 proactive calls and provided in-person assistance to 1,363 consumers.
Policy & regulationImplementation, projects & pilotsActivity and performance reporting
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2025-02-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has notified individuals on a specified list to pay a VND 1,000,000 fee for the re-issuance of a Securities Practising Certificate, as per Ministry of Finance Circular 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.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
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2025-02-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) and the Getulio Vargas Foundation (FGV) released a report on investor behavior in pyramid schemes and sports betting. The study highlights financial education's role in reducing susceptibility to cognitive biases and risk-taking influenced by betting stimuli. Findings suggest exposure to betting cues increases risk receptiveness in both illicit and licit investments, with participants showing no differentiation in resource allocation among bets, pyramid schemes, and traditional investments.
ResearchConsumer and investor protectionFinancial literacy and education
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2025-02-14•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission has extended the deadline for companies with non-calendar fiscal years to file initial annual returns by nine months, under section 98A(2A) of the BVI Business Companies Act, Revised Edition 2020. This follows a previous extension for calendar-year companies announced on 11 December 2024.
Policy & regulationRules & requirementsRegulatory reporting
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2025-02-14•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission and the Financial Investigation Agency have issued updated Virgin Islands Sanctions Guidelines, detailing reporting requirements under the new Sanctions Unit within the Attorney General’s Chambers. The Guidelines clarify the delegation of functions to the Attorney General’s Chambers and the FIA, including licensing, enforcement, and maintaining a list of designated entities. They outline reporting obligations and processes under the Counter-Terrorism Act, 2021, and the Proliferation Financing (Prohibition) Act, 2021.
Policy & regulationGuidance & interpretationSanctions list update