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2025-02-14•British Virgin Islands•British Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission issued an industry circular urging investment business licensees to attend an Investment Business Outreach Webinar on suspicious activity and transaction reporting. The session, facilitated by the Financial Investigations Agency, aims to enhance compliance frameworks and support AML/CFT/CPF training under the Virgin Islands AML regime.
Policy & regulationGuidance & interpretationAML and CFTCompliance
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2025-02-14•Serbia•National Bank of Serbia
The National Bank of Serbia's Q3 2024 report highlights continued growth in Serbia's insurance sector, with total premiums rising 14.7% year on year to RSD 132.6 billion. The sector's capital adequacy remains strong, with available solvency margins significantly exceeding required levels. The report also notes ongoing efforts to align Serbia's regulatory framework with the European Union's Solvency II and Insurance Distribution Directive.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-14•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan supported the Azerbaijan Financial Forum for discussing financial sector developments and challenges. Deputy Chairman Toghrul Aliyev linked the Bank’s initiatives under the 2024–2026 Financial Sector Development Strategy to fostering an innovative ecosystem. Key focus areas included strengthening financial sustainability, reforming non-bank credit organisation regulations, and enhancing financial intermediation and digitalisation.
Policy & regulationCooperationMarket development
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2025-02-14•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan published its 2024 survey results on sustainable finance, evaluating ESG principles in banks, insurance, and investment companies. The findings inform the Central Bank's policy on sustainable finance development. This annual survey, now in its second year, follows the 2023 report.
ResearchESG
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2025-02-14•Albania•Albania Financial Services Authority
The Albania Financial Services Authority released issue 188 of its January 2025 periodical, detailing its regulatory, supervisory, and institutional activities. The publication also offers consumer and investor information on the markets it oversees.
Other
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2025-02-14•Malaysia•Malaysia Securities Commission
Securities Commission Malaysia will host a Malaysia Co-Investment Fund (MyCIF) roadshow in Penang on 18 February 2025 to promote awareness of MyCIF and alternative funding channels among micro, small, and medium enterprises in northern Malaysia. Organized with the Northern Corridor Implementation Authority, the event will feature sessions on equity crowdfunding, peer-to-peer financing, and networking with SC-registered platform operators. MyCIF, established under Federal Budget 2019, operates a public-private co-investment model and has co-invested over RM1 billion in more than 9,000 MSMEs.
Financial literacy & educationCrowdfunding
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2025-02-14•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice designating five persons and entities under the UK's Russia (Sanctions) (EU Exit) Regulations 2019, effective in Guernsey. Firms must freeze relevant assets, report findings to the States of Guernsey Policy & Resources Committee, and comply with statutory obligations under the Sanctions (Bailiwick of Guernsey) Law, 2018. They must inform the Commission of affected relationships and provide detailed reports as required.
Policy & regulationGuidance & interpretationNew sanctions designations
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2025-02-14•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission amended the UK designation for Yuri Yakovlevich Chaika under the Russia (Sanctions) (EU Exit) Regulations 2019, maintaining asset freeze and trust services sanctions. Businesses must freeze relevant assets and report to the States of Guernsey Policy & Resources Committee, complying with the Sanctions (Bailiwick of Guernsey) Law, 2018. Firms must notify the Commission and submit a Handbook Rule 12.37 report if an affected relationship is identified.
Policy & regulationGuidance & interpretationNew sanctions designations
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2025-02-14•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission appointed Chanant Charnchainarong and Varunee Pridanonda to the Capital Market Supervisory Board, effective 31 January 2025, replacing Saranya Chindavanig and Ekachai Chongvisal. Chanant is on the Bank of Thailand’s Financial Institution Policy Committee, while Varunee is a Board Member and Chairman of the Accounting Systematisation Committee at the Federation of Accounting Professions.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-14•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria reassured the public that Keystone Bank Limited remains safe and operational after a court ordered the forfeiture of its shares to the Federal Government. The CBN highlighted its ongoing oversight of the bank since taking over management in January 2024 to ensure compliance and depositor protection. It affirmed its commitment to monitoring the bank's performance and safeguarding stakeholder interests.
SupervisionInterventionsFinancial stability and systemic risk
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2025-02-14•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced that the Treasury Inspector General and the Government Accountability Office (GAO) will investigate Treasury Secretary Scott Bessent’s decision to allow Elon Musk’s “Department of Government Efficiency” access to sensitive federal payment systems. The investigation will assess potential risks to system integrity, compliance with laws, and adequacy of access controls. The GAO will also review the scope of access, individual clearances, and protective measures for economic and national security.
SupervisionReviews, inspections & stress testsPayments and payment systems
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2025-02-14•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Senators Elizabeth Warren and Rick Scott urged Federal Reserve Chair Jerome Powell to enforce stricter adherence to the Fed’s Investment and Trading Policy and financial disclosure rules, citing a "culture of corruption." Their letter references a report by the Federal Reserve Inspector General detailing improper trades by Dr. Raphael Bostic and criticizes the Board's response to ethics scandals. The senators also posed questions to Powell regarding these issues.
Policy & regulationReform agendas & prioritiesCorporate governance
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2025-02-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam released a 2025 action programme focused on thrift and waste prevention, aligning with Party and government directives. Key priorities include tighter management of state budget funds, public assets, and investment, alongside organisational streamlining and enhanced financial oversight. The programme also aims to improve state-owned enterprise effectiveness and address weak commercial banks.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-14•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) is consulting on regulatory amendments for currency exchange, electronic money, and payment services to align with government proposals. Key changes include shifting currency exchange to an authorisation regime, removing electronic money issuance exemptions, and narrowing payment service exemptions. The consultation also addresses capital requirement calculations for payment and electronic money institutions.
Policy & regulationRules & requirementsPayments and payment systems
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2025-02-14•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen) issued consumer guidance promoting open discussions about personal finances to reduce conflicts and improve financial planning. The guidance includes steps for setting shared goals, budgeting, reviewing costs, and prioritizing emergency savings. Additional resources are available in the authority’s “Consumer Room” on various financial topics.
Financial literacy & educationConsumer and investor protection
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2025-02-14•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (FI) analyzed non-life insurers' incorporation of sustainability risks in their 2023 Own Risk and Solvency Assessments (ORSA), finding significant variation and weaknesses in materiality assessments and scenario analysis. FI emphasized the need for improved reporting on climate change risks ahead of new legal requirements in 2027 and will focus on climate- and transition-related risk management in 2025 supervision.
SupervisionReviews, inspections & stress testsClimate risk and sustainable finance
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2025-02-14•Norway•Norwegian Finanstilsynet
Norway's Financial Supervisory Authority released an inspection report on DNB Bank ASA's use of internal ratings-based (IRB) models for credit risk capital requirements. It emphasizes board accountability for IRB compliance, quality assurance in impact calculations, and accurate calibration and validation of probability of default (PD) and loss given default (LGD) estimates. The report also calls for quantitative analyses of the maturity parameter and expects transparent presentation of IRB risk parameters in credit documentation.
SupervisionReviews, inspections & stress testsCapital adequacy
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2025-02-14•Mauritius•Bank of Mauritius
The Bank of Mauritius has dismissed 25 employees recruited in April and October 2024, citing transparency and legal compliance in the decision. The bank will assist the affected staff in their professional transition.
Institutional developmentWorkforce & recruitmentHiring and recruitment
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2025-02-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission will publish the certificate for Conventional Current and Maximum Interest Rates in the Official Gazette on 15 February, with rates effective upon publication. As required by Law No. 18.010, the CMF also released the certificate on its website to ensure timely and transparent disclosure.
Policy & regulationImplementation, projects & pilotsFinancial and market indicators
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2025-02-14•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission appointed Brian Young as Director of Enforcement, a position he held on an acting basis since January 22. Young, who joined the CFTC in 2024, previously worked at the US Department of Justice, where he handled significant cases involving LIBOR manipulation and futures "spoofing."
Institutional developmentLeadership change & appointmentsWhistleblowing
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2025-02-14•United States•Federal Reserve Board
The Federal Reserve Board staff published a FEDS Notes outlining a framework for proportionate margining in repo markets, emphasizing alignment with counterparty default risk, collateral risk, and net exposures. The analysis contrasts centrally cleared repo at the Fixed Income Clearing Corporation with non-centrally cleared markets, highlighting limitations of minimum haircut floors. It suggests a Value-at-Risk-based approach and discusses the potential impact of the SEC’s Treasury repo central clearing rule on margining practices.
Policy & regulationGuidance & interpretationPrudential risksMarket infrastructure
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2025-02-14•United States•Federal Reserve Board
The Federal Reserve Board's FEDS Note finds that US minimum wage increases result in only small and temporary rent increases, particularly for lower-cost properties. The analysis, using granular rent and wage data from 2010 to 2019, shows a marginal rent elasticity that fades quickly. The note suggests that previous findings of significant rent effects may be overstated and calls for further research with broader event coverage.
ResearchOther
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2025-02-14•Russia•Central Bank of Russia
The Central Bank of Russia reported a decline in foreign participation in the authorised capital of credit institutions and insurance companies as of 1 January 2025. Foreign equity in banks decreased to 5.86% from 6.95%, and in insurers to 3.69% from 4.79% year-on-year. The annual calculation showed foreign investments in banks at RUB 205.796 billion and in insurers at RUB 8.893 billion.
Data & statisticsForeign exchange policy and markets
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2025-02-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission filed settled charges against One Oak Capital Management LLC and former adviser Michael DeRosa for fiduciary duty breaches. From June 2020 to October 2023, they failed to disclose conflicts of interest and recommended account conversions leading to higher fees without benefits. One Oak will pay a USD 150,000 penalty and retain a compliance consultant, while DeRosa faces a USD 75,000 penalty and a nine-month suspension.
EnforcementInvestigations & enforcement actionsFiduciary duty
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2025-02-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission is seeking candidates for its Investor Advisory Committee, including an at-large member and a representative for senior citizens. Established under the Dodd-Frank Act, the committee advises the SEC on regulatory priorities, securities regulation, fee structures, and investor protection initiatives.
Institutional developmentLeadership change & appointmentsCorporate governance
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2025-02-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission will host the 44th Annual Government-Business Forum on Small Business Capital Formation on April 10 at its Washington, D.C. headquarters. The forum will feature SEC Commissioners and discussions with stakeholders on capital raising for small businesses, allowing participants to submit and vote on policy recommendations. The event will return to an in-person format with virtual attendance options.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-02-14•Canada•Alberta Securities Commission
The Alberta Securities Commission (ASC) has permanently banned Charles DeBono from market activities following his conviction for operating a Ponzi scheme. DeBono was sentenced to seven years in prison and ordered to pay over CAD 26 million in restitution after defrauding more than 500 investors. The ASC order prohibits him from trading, holding market positions, and engaging in any securities-related activities in Alberta.
EnforcementSanctions & designationsFraud and scams
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2025-02-14•China•China Banking and Insurance Regulatory Commission
Sun Jianning, a former first-level inspector at the Shandong office of the China Banking and Insurance Regulatory Commission, is under disciplinary review and supervisory investigation for suspected serious violations of discipline and law. The investigation is being conducted by the Rizhao Municipal Supervisory Commission in Shandong.
EnforcementInvestigations & enforcement actionsBribery and corruption
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2025-02-14•Moldova•National Bank of Moldova
Governor Anca Dragu of the National Bank of Moldova attended an IMF Constituency conference in Amsterdam, addressing geo-economic fragmentation. Dragu emphasized the impact of geopolitical shocks on economies, regional harmonisation of financial regulation, and international cooperation in energy and financial infrastructure. The conference also explored macroprudential policies to mitigate financial risks and protect against destabilising external shocks.
Policy & regulationCooperationGeopolitical riskDomestic cooperation
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2025-02-14•Moldova•National Bank of Moldova
The National Bank of Moldova reported a rise in the Residential Property Price Index (RPPI) for Chișinău, reaching 178.8 at the end of Q4 2024, a 7.3% increase from Q3 2024 and 25.6% from Q4 2023. The primary-market RPPI rose to 183.1, while the secondary-market RPPI increased to 174.6. The update includes RPPI metadata and a technical note.
Data & statisticsFinancial and market indicators
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2025-02-14•Macao•Monetary Authority of Macao
The Monetary Authority of Macao and the China-Portugal Cooperation and Development Fund co-organised a seminar on Sino-Portuguese finance to bolster Macao's role as a financial services platform. The event highlighted investment opportunities in Portuguese-speaking countries, focusing on green energy and infrastructure projects. Since 2019, six thematic training activities have been conducted, with plans for continued training to enhance expertise.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-02-14•South Korea•Bank of Korea
The Bank of Korea released preliminary January 2025 data showing the Export Price Index rose 1.2% month-on-month and 8.5% year-on-year, while the Import Price Index increased 2.3% month-on-month and 6.6% year-on-year. The net barter terms of trade index increased 3.1% year-on-year.
Data & statisticsEconomic data and developments
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2025-02-14•Taiwan•Central Bank of Taiwan
The Central Bank of Taiwan's report noted 65 domestic banking units (DBUs) and 56 offshore banking units (OBUs) engaged in RMB activities as of January 31, 2025. By end-December 2024, RMB deposits totaled RMB 114.34 billion, with RMB 83.12 billion in DBUs and RMB 31.22 billion in OBUs. December 2024 remittances reached RMB 240.45 billion, while the Taipei Branch of the Bank of China processed RMB 497 billion in settlements in January 2025.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-14•India•Insurance Regulatory and Development Authority of India
The Insurance Regulatory and Development Authority of India held the ninth Bima Manthan meeting with insurer CEOs to review sector performance and align on priorities like inclusion, risk management, and technology adoption. Updates were provided on the phased launch of the Bima Trinity, with Bima Sugam, Bima Vahak, and Bima Vistaar progressing toward rollout. Discussions included growth trends, financial resilience, and the importance of timely public disclosures and seamless claims handling.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-02-14•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury updated the UK sanctions list under the Russia sanctions regime, adding five new designations and amending one existing entry. Newly listed individuals and entities are subject to an asset freeze and trust services sanctions. The notice emphasizes the obligation to freeze assets of designated persons and report any breaches to the Financial Intelligence Unit.
EnforcementSanctions & designationsSanctions list update
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2025-02-14•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank Governor Klaas Knot emphasized the need for renewed international monetary diplomacy and public support for the international financial rules-based order. Knot highlighted that rising geopolitical tensions and economic fragmentation threaten global financial stability and the roles of the International Monetary Fund and World Bank. He stressed the importance of continued cooperation to address challenges like trade wars and climate change.
Policy & regulationCooperationMonetary policy decisions and developments
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2025-02-14•United Arab Emirates•ADGM Financial Services Regulatory Authority
The ADGM Financial Services Regulatory Authority warned of fraudulent schemes where individuals falsely claim on social media to be associated with ADGM to offer loans and solicit upfront payments. The alert emphasizes that ADGM and its staff do not facilitate loan transactions for third parties and advises the public to verify identities through official channels and avoid sharing confidential information. Only FSRA-authorized firms can conduct regulated activities in ADGM.
SupervisionAlertsFraud and scams
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2025-02-14•Middle East•Islamic Development Bank
The Islamic Development Bank hosted IMF Managing Director Kristalina Georgieva in Jeddah to enhance coordination on economic resilience, sustainable development, and global financial stability. Discussions covered post-conflict economies, economic fragmentation, digital transformation, and the upcoming Joint Islamic Finance Report 2025. This visit builds on a 2022 memorandum for joint economic analysis and policy coordination.
Policy & regulationCooperationDomestic cooperationFinancial stability and systemic risk
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2025-02-13•Nicaragua•Central Bank of Nicaragua
Central Bank of Nicaragua President Ovidio Reyes projected 2025 GDP growth of 3–4%, inflation of 2–3%, and unemployment of 2–3%, with continued momentum in exports, credit, and deposits. Reyes highlighted 2024's broad-based economic performance, with growth at 3.5–4%, inflation at 2.8%, and unemployment at 2%, alongside record international reserves of USD 6.1 billion. For 2025, he anticipates 7% export growth in January and double-digit growth in credit and deposits, with budget savings exceeding NIO 5 billion.
Monetary policyMonetary policy assessments & outlooksEconomic data and developments
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2025-02-13•Türkiye•Central Bank of Türkiye
The Central Bank of the Republic of Türkiye and the State Bank of Pakistan signed a Memorandum of Understanding to enhance cooperation and technical activities on central banking issues.
Policy & regulationCooperationCross-border cooperation
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2025-02-13•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority penalized three individuals for Capital Market Law violations, imposing SAR 500,000 in fines and five-year bans in two cases. Osama As’ad was fined SAR 100,000 for IPO nondisclosure, Bader Alhammad SAR 200,000 for integrity breaches, and Muhammad Alzahrani SAR 200,000 for unlicensed advising. Affected parties may seek compensation or rescission.
EnforcementInvestigations & enforcement actions
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2025-02-13•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has initiated a consultation on settlement discipline, proposing amendments to enhance settlement efficiency. Key proposals include shorter timeframes for allocations and confirmations, electronic machine-readable processes, and mandatory hold and release and partial settlement by central securities depositories. ESMA is also seeking input on additional measures in light of the EU transition to T+1 and the European Commission’s recent legislative proposal.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-13•Montenegro•Montenegro Capital Market Authority
Montenegro's Parliament has adopted the Law on Voluntary Pension Funds, creating a regulatory framework for the third pension pillar and voluntary pension savings. The law aligns with EU directives, enhancing governance, member protection, and management accountability, while facilitating cross-border activities for closed voluntary pension funds.
Policy & regulationRules & requirements
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2025-02-13•New Zealand•Reserve Bank of New Zealand
The Reserve Bank of New Zealand has appointed Professor Philip Vermeulen as a full member of its governing Board for a five-year term starting 10 February 2025, following a recommendation by the Minister of Finance and a public appointment process. Vermeulen, previously a "Future Director" and observer on the Board, brings extensive experience from the European Central Bank and academia.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-13•Greece•Bank of Greece
The Bank of Greece released its evaluation of primary dealers' performance in the Greek government bond market for 2024, ranking Piraeus Bank first, followed by National Bank of Greece and Alpha Bank. The ranking assesses firms based on their activity throughout the year.
SupervisionReviews, inspections & stress testsTrading
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2025-02-13•Luxembourg•Central Bank of Luxembourg
The Central Bank of Luxembourg released a study comparing methods for constructing an apartment price index, including a machine learning approach. The study finds that all methods show similar trends, with rapid price growth from 2018–2021, a slowdown in 2022, and a decline in 2023. The machine learning index closely aligns with traditional indices but is less volatile and subject to larger revisions.
ResearchArtificial intelligenceOther
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2025-02-13•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has updated Regulatory Guide 51 (RG 51) and Regulatory Guide 108 (RG 108) to streamline application processes by consolidating materials and removing outdated references. Changes include cross-referencing between RG 108 and RG 51 for no-action letter requests, clarifying review rights through the Administrative Review Tribunal, and eliminating the need for a cost-benefit analysis in applications. ASIC will withdraw Regulatory Guides 21, 208, and 57, with relevant guidance now included in RG 51.
Policy & regulationGuidance & interpretationRegulatory burden
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2025-02-13•Europe•European Securities and Markets Authority
The European Securities and Markets Authority's first 2025 risk monitoring report indicates high risks in EU securities markets, urging caution against potential market corrections. Concerns include economic growth uncertainty, global monetary policy, geopolitics, and rising contagion risk amid surging asset prices and crypto markets. The report also highlights debt sustainability risks, a slowdown in ESG investing, and the speculative nature of crypto-assets.
SupervisionRisk monitoring & watch pointsMarket risk and volatilityFinancial stability and systemic risk
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2025-02-13•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) has initiated a consultation to revise the disclosure framework for private securitisations under the Securitisation Regulation. The proposal includes a simplified disclosure template for proportionate information sharing while ensuring supervisory authorities access essential data. This initiative is part of ESMA's broader effort to simplify processes and reduce burdens while maintaining financial stability, orderly markets, and investor protection.
Policy & regulationRules & requirementsSecuritizationDisclosures
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2025-02-13•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia is finalizing its strategic regulatory clean-up project to update the Circular Básica Jurídica (CBJ), following a final technical roundtable on 12 February. The overhaul aims to eliminate obsolescence and duplication, enhance regulatory clarity, and introduce a new digital access system for easier consultation. Over 3,500 suggestions were reviewed, with input from industry, academia, and supervisory teams.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-13•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia concluded its final technical roundtable on updating the Basic Legal Circular (CBJ) as part of a regulatory clean-up project. The initiative aims to eliminate obsolete provisions and reduce compliance burdens, incorporating over 3,500 suggestions from public consultations. The revised CBJ will feature a new digital access system, though no publication date has been announced.
Policy & regulationRules & requirementsOther
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2025-02-13•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance has replaced the 2019 foreign exchange regulations with new 2023 rules to expand services near tourist hotels in Zanzibar. Detailed in Government Gazette No. 42 of October 2023, the changes include a three-tier licensing framework, reduced capital requirements, and a provision for three-star hotels to apply for Class C licences. This update increased Zanzibar's foreign exchange bureaus from four to 15, with branches rising from 11 to 35.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-13•Tanzania•Ministry of Finance (Tanzania)
Tanzania's Ministry of Finance is conducting financial education outreach in Same District, emphasizing licensed financial service use and consumer protection. Part of the Financial Sector Development Master Plan, it aims to reach 80% of Tanzanians, focusing on saving habits and informed financial decisions. Local providers are urged to comply with regulations, with warnings against unlicensed operations and excessive interest rates.
Financial literacy & educationFinancial literacy and education
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2025-02-13•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market held its first simulation session with state authorities and international experts to prepare for a bilateral meeting with the European Commission, focusing on Section 6, Corporate Law. Discussions included EU approaches to company formation, mergers, financial reporting, audit regulation, and corporate governance. Further meetings are planned to support Ukraine's alignment with EU standards.
Policy & regulationCooperationAccounting and financial reportingCorporate governance
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2025-02-13•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market is monitoring unreliable investment projects, with its list now exceeding 400 entries. It identified 10 key risk factors, including flashy advertising and missing legal disclosures, to help investors assess potential scams. The Commission encourages public reporting of suspicious financial activities.
SupervisionAlertsFraud and scams
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2025-02-13•Costa Rica•Central Bank of Costa Rica
The Central Bank of Costa Rica registered the Monetary Stabilization Bonds issues BCFIJA201027, BCFIJA190428, BCFIJA181028, and BCFIJA200230 in the National Registry of Securities and Intermediaries as per Resolution SGV-R-OP-2-2025 dated 11 February 2025.
Monetary policyMonetary policy instruments & operationsSecurities offerings and listings
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2025-02-13•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan mandates new requirements for non-banking microfinance companies to enhance consumer protection and women's financial inclusion. These include reporting gender-disaggregated data and complaints, implementing consumer protection principles for clearer loan disclosures, and mandatory gender sensitisation training for staff. The SECP aims to use this data to identify trends affecting female borrowers and support targeted interventions.
Policy & regulationRules & requirementsConsumer and investor protectionESG
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2025-02-13•Georgia•National Bank of Georgia
The National Bank of Georgia responded to a European Parliament resolution recommending sanctions on Georgian officials, including Governor Natia Turnava, framing it as political pressure on an independent regulator. The bank emphasized Georgia's strong economic fundamentals, sound financial system, and alignment with European regulations, rejecting efforts to discredit its operations.
OtherLeadership change and appointments
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2025-02-13•Georgia•National Bank of Georgia
The National Bank of Georgia has appointed Ekaterine Mikabadze as First Vice-Governor and Nino Jeladze as Vice-Governor, transitioning from her recent Board position. These appointments follow the naming of Natia Turnava as Governor by President Mikheil Kavelashvili, after a Board proposal. The Board was recently refreshed with four new members approved by the Parliament of Georgia.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-13•United States•National Credit Union Administration
The National Credit Union Administration's 2024 financial statements received unmodified audit opinions for all four funds, confirmed by the Office of Inspector General. KPMG LLP audited the National Credit Union Share Insurance Fund, Operating Fund, Central Liquidity Facility, and Community Development Revolving Loan Fund. The Share Insurance Fund held USD 22.3 billion in assets as of December 31, 2024, insuring deposits for over 142 million members at more than 4,400 federally insured credit unions.
Data & statisticsAuditing
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2025-02-13•Italy•Bank of Italy
The Bank of Italy has issued instructions and a standard template for ICT security assessments, as requested in its December 2024 communication. Financial entities are to evaluate their compliance with the Digital Operational Resilience Act (DORA) and self-assess their ICT risk management frameworks. The template aims to aid intermediaries and enhance response comparability.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-02-13•Italy•Bank of Italy
The Bank of Italy announced a videoconference workshop for prospective credit servicers following its provisions under the Secondary Markets Directive. The session will clarify submission requirements and procedures for authorisation requests in accordance with European and national regulations.
Policy & regulationGuidance & interpretationLicence approval
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2025-02-13•United States•Federal Reserve Bank of New York
The Federal Reserve Bank of New York reported a USD 93 billion (0.5%) increase in total household debt in Q4 2024, reaching USD 18.04 trillion. Credit card balances rose by USD 45 billion, while auto loans and mortgages each increased by USD 11 billion. Delinquency rates remained elevated for auto loans and credit cards, with a slight increase in serious delinquencies for these categories.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-13•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier released findings from its enforcement work on issuers' 2023 financial and non-financial disclosures under the Transparency Law. The review covered areas related to International Financial Reporting Standards and sustainable finance disclosures.
EnforcementInvestigations & enforcement actionsOther
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2025-02-13•Lithuania•Bank of Lithuania
The Bank of Lithuania reported a shift in the current account balance from a EUR 5.0 million deficit in November to a EUR 62.8 million surplus in December 2024, driven by a primary income surplus and increased services surplus. The financial account recorded a negative net flow of EUR 423.6 million, influenced by negative other and direct investments, partially offset by a rise in official reserve assets. Detailed data are available on the central bank's external statistics portal.
Data & statisticsBalance of payments and other external statistics
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2025-02-13•Croatia•Ministry of Finance (Croatia)
Croatia's Ministry of Finance reported that Deputy Prime Minister and Finance Minister Marko Primorac met with Citibank representatives to explore investment and financing opportunities, focusing on financial-sector modernization. Discussions included financing for infrastructure and strategic projects, support for local initiatives, and digitalization efforts under the National Recovery and Resilience Plan. The meeting emphasized Croatia's macroeconomic stability and cooperation with global financial institutions.
OtherCross-border cooperationPayments and payment systems
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2025-02-13•Portugal•Bank of Portugal
The Bank of Portugal reported that outstanding investment fund units reached EUR 45.3 billion by December 2024, marking the highest level in the series, with total fund assets rising to EUR 52.3 billion. Households increased their investment by EUR 1.6 billion, remaining the largest investor sector. Real estate funds' share of total assets grew to 44%, with notable net issuance and redemption activities across different fund types.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-13•Laos•Bank of the Lao
The Bank of the Lao conducted its annual 2024 meeting with commercial banks to outline regulatory and operational priorities and review supervision outcomes. Key topics included Basel principles for bank supervision, exchange rate framework implementation, foreign-currency interest rate caps, and cross-border transfer reporting. Discussions also addressed banking operations, payment system oversight, and fraud prevention measures.
SupervisionSupervision approach, priorities & toolkitOther
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2025-02-13•Sweden•Riksbank
Riksbank Deputy Governor Per Jansson discussed Sweden's inflation-targeting framework, suggesting it could allow slightly larger and longer short-term deviations from the 2% target if credibility is maintained. He emphasized the importance of anchored wage formation, stable price-setting behavior, and supportive fiscal policy. Jansson noted a recent policy rate cut to 2.25% and highlighted the Riksbank's readiness to adjust policy amid uncertainties.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
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2025-02-13•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong, led by Secretary Christopher Hui, attended the second Shenzhen-Hong Kong Financial Co-operation Committee meeting. The committee reviewed financial market developments and discussed enhancing collaboration in professional services, talent cooperation, and cross-boundary financial infrastructure. Hui emphasized Hong Kong accounting firms' global support for Mainland enterprises and promoted cross-boundary opportunities via the Greater Bay Area Fintech Two-way Internship Scheme.
Policy & regulationCooperationCross-border cooperation
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2025-02-13•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Funds (SBS) warned about unauthorized entities like Capital Infinity Corporation and Finniu S.A.C., which promise high returns but risk non-payment and capital loss. SBS also flagged 18 informal lending apps for potentially disbursing loans without consent and using extortionate collection methods. The SBS advised the public to verify financial service providers and report unauthorized activities through SBS channels.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-02-13•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 Galiya Bagasharovna Masenova as acting Chair of the Management Board of JSC Subsidiary Bank Kazakhstan-Ziraat International Bank.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•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 approved Maria Timurovna Shorabekova as a member of the executive body in the securities market, focusing on administrative, economic, and information technology matters.
Institutional developmentLeadership change & appointmentsLicence approval
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2025-02-13•Australia•Australian Prudential Regulation Authority
The Australian Prudential Regulation Authority issued a letter to authorised deposit-taking institutions to clarify expectations on pre-sales and commercial property lending, building on its March 2017 guidance on commercial property lending.
Policy & regulationGuidance & interpretationLending
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2025-02-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert regarding fraudulent websites and internet banking login screens related to DBS Bank (Hong Kong) Limited. The alert emphasizes that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information like passwords or One-Time Passwords through these channels.
SupervisionAlertsFraud and scams
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2025-02-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding phishing instant messages linked to Industrial and Commercial Bank of China (Asia) Limited. The HKMA emphasized that banks will not request sensitive information or direct customers to websites via embedded hyperlinks. Individuals who responded to such messages are advised to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-13•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted the public about fraudulent websites and internet banking login screens reported by The Hongkong and Shanghai Banking Corporation Limited. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
SupervisionAlertsFraud and scams
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered "MILLIY MIKROMOLIYA TASHKILOTI" LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered ASAKA FINANCE GARANT MIKROMOLIYA TASHKILOTI LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered XALQ MIKROMOLIYA TASHKILOTI LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered MICROFINANCE SERVICE LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered "BIZNESNI RIVOJLANTIRISH MIKROMOLIYA TASHKILOTI" LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered SQB MIKROMOLIYA TASHKILOTI LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered TURON MIKROMOLIYA LLC as a microfinance institution, following a decision by the bank's management.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered "ALOQA FINANCE DEVELOPMENT MIKROMOLIYA TASHKILOTI" LLC as a microfinance institution.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered CASH POINT LLC as a microfinance institution. This inclusion was decided by the central bank's management.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has registered TAYAN limited liability company as a microfinance institution. This inclusion was made under a decision by the Bank's management.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Uzbekistan•Central Bank of the Republic of Uzbekistan
The Central Bank of the Republic of Uzbekistan has added ALMIZAN MIKROMOLIYA TASHKILOTI LLC to its register of microfinance institutions.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-13•Europe•European Central Bank
The European Central Bank's Economic Bulletin notes floods' economic impact in Europe, attributing increased extreme rainfall to climate change. High-income areas see temporary construction booms and higher GDP, while middle-income regions face lasting industrial setbacks. The ECB highlights low insurance coverage for climate-related damages and suggests EU-level strategies to enhance catastrophe insurance and flood-defence investments.
ResearchClimate risk and sustainable finance
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2025-02-13•Europe•European Central Bank
The European Central Bank's Economic Bulletin research shows demographic shifts in the euro area labour force contributed to a 0.9 percentage point decline in unemployment to 6.3% from Q4 2021 to October 2024. Growth in the labour force, driven by non-EU, older, and tertiary-educated workers, supported this trend, although unemployment rates varied across groups. Increased participation by tertiary-educated and older workers significantly reduced aggregate unemployment, while foreign workers' participation had a limited impact due to higher employment rates.
Research
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2025-02-13•Europe•European Central Bank
The European Central Bank's Economic Bulletin notes a divergence between euro area private consumption and real disposable income, due to households underestimating their real income post-inflation surge. The ECB's Consumer Expectations Survey shows a persistent gap between perceived and actual real income changes, with pessimism more common among lower-income households. The research anticipates that as perceptions improve, consumption will align more closely with real income growth.
ResearchOther
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2025-02-13•Europe•European Central Bank
The European Central Bank's Working Paper examines institutional investors' impact on euro area real estate and monetary policy. It finds demand shocks from these investors raise house prices and mortgage lending, notably in Germany, the Netherlands, and Finland. The study highlights that institutional investor presence weakens the link between house prices and local economic fundamentals while increasing sensitivity to monetary policy and financial market volatility.
Research
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2025-02-13•Europe•European Central Bank
The European Central Bank's working paper analyzed the impact of redemption restrictions in open-ended bond funds on financial stability during the March 2020 COVID-19 market turmoil. Longer redemption notice periods reduced investor outflows and procyclical liquidity management, with an additional week decreasing first quarter 2020 outflows by 1.3 percentage points. Notice periods also mitigated outflow sensitivity to poor performance without significantly affecting inflows after good performance.
ResearchLiquidity riskMarket risk and volatility
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2025-02-13•Qatar•Qatar Central Bank
The Amir of Qatar appointed H.E. Sheikh bin Khalid bin Ahmed bin Sultan A Thani as Deputy Governor of the Qatar Central Bank through Decree No. 12 of 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-13•United States•Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston's analysis from the Federal Reserve’s Small Business Credit Survey reveals widespread payment frictions for small employers, with 80% reporting issues like fees and slow fund receipt. Credit card processing fees, reducing transaction value by 2% to 3%, are the most common challenge. The report suggests instant payments, including FedNow transfers, to mitigate delays and support cash flow needs.
ResearchSME financing
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2025-02-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reviewed progress on the National Strategy for Financial Inclusion 2022–2026, confirming financial inclusion indicators met target levels. In 2024, the bank collaborated with financial institutions and partners to conduct training and awareness activities, engaging over 148,000 participants. The Strategy is supported by a governance structure, including a Coordination Council led by the central bank.
Policy & regulationImplementation, projects & pilotsOther
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2025-02-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan approved LLC “Sugurtai Sharq”’s request to withdraw its authorization and enter voluntary liquidation. This decision revokes and invalidates the insurer’s licence to conduct insurance operations granted on 22 September 2020.
SupervisionAuthorisations & approvalsLicensing framework and process
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2025-02-13•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan reported the results of its MF250728 credit auction, with a weighted-average annual interest rate of 8.79%. The auction had an issue volume of TJS 30.0 million, with applications totaling TJS 21.5 million and proposed rates between 8.77% and 8.80%.
Monetary policyMonetary policy instruments & operationsLiquidity riskPrudential risks
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2025-02-13•Brazil•Brazilian Superintendence of Private Insurance (SUSEP)
At a Correio Braziliense forum, the Brazilian Superintendence of Private Insurance (SUSEP) outlined legislative changes and supervisory priorities. Superintendent Alessandro Octaviani highlighted the sector's macroeconomic significance, with technical provisions at 17% of Brazil's GDP, and discussed new laws, including Law 15.040/2024 and Complementary Law 213/2025. Prudential and Reinsurance Supervision Director Carlos Queiroz emphasized proportional regulation and innovation initiatives like Open Insurance and SUSEP’s regulatory sandbox.
Policy & regulationRules & requirementsMarket development
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2025-02-13•South Africa•South African Reserve Bank
In a keynote address, South African Reserve Bank Governor Lesetja Kganyago emphasized institutional performance, transparency, and communication amid rising populist pressures. He highlighted the SARB's transparency efforts, including implementing IMF recommendations, and advocated for a lower inflation target. Kganyago also discussed the SARB's acquisition of a 50% stake in BankservAfrica to modernize the national payments infrastructure.
Policy & regulationImplementation, projects & pilotsMonetary policy decisions and developments