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2025-02-06•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay has sworn in Rodrigo Sebastián Ruiz Morel as head of the Securities Superintendency. He used the appointment to set priorities for the market regulator, focusing on liquidity, infrastructure, investor base expansion, transparency and governance under a three pillar agenda of modernization, legal order and institutional strengthening. Ruiz Morel said the securities market has grown from 0.15% of gross domestic product to 15% of the economy by the end of 2024.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•Albania•Albania Financial Services Authority
The Albania Financial Services Authority, in collaboration with the Ministry of Economy, Culture and Innovation and the World Bank, hosted an international conference on reforming Albania’s pension system. Discussions highlighted the new law on private pension funds, aligning with the EU's IORP II framework, and initiatives to enhance market participation and governance. The Authority will continue monitoring the implementation of this framework.
Policy & regulationReform agendas & priorities
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2025-02-06•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario has revoked the individual insurance agent licence of Robert Randall Hawken and the corporate licence of Dufferin Insurance Group. FSRA determined both were unsuitable for licensing under the Insurance Act due to misconduct, fund misappropriation, and false information provision. Neither party contested the revocation.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-06•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario (FSRA) has initiated enforcement action against Hong Wei Liao, proposing to refuse the renewal of his life insurance and accident and sickness agent licence under Ontario’s Insurance Act. FSRA cites Liao's lack of good character, reputation, and competence as grounds for the proposal. Liao has requested a hearing before the Financial Services Tribunal.
EnforcementInvestigations & enforcement actionsFitness and propriety
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2025-02-06•Canada•Ontario Securities Commission
The Ontario Securities Commission (OSC) issued a temporary cease trade order against BG Wealth Group, its principals Craig Dunkerley and Claudia Harvey, and eight related companies amid an investigation into potential breaches of Ontario securities law, focusing on unregistered trading and illegal distributions. The OSC confirmed none are registered, prohibiting them from offering or trading securities in Ontario.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-06•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities & Exchange Commission (SEC) achieved the highest maturity level in the 2024 Privacy Maturity Model & Index Assessment for personal data protection measures. The assessment involved 142 participants from public and private sectors. The SEC showcased its collaboration with the Bank of Thailand and the Office of Insurance Commission under a financial sector personal data protection MoU at the "Data Privacy Day 2025" event.
Policy & regulationPeer reviews and country evaluationsData protection
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2025-02-06•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission urges JCK213A bondholders to review information and exercise their rights at an upcoming e-meeting to vote on proposed bond term amendments. Key proposals include extending maturity to March 2027, increasing the interest rate to 7.50% during the extended period, and altering repayment schedules and collateral arrangements. The SEC mandates the bondholders’ representative to assess the implications of these changes.
Policy & regulationGuidance & interpretationCorporate governance
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2025-02-06•Canada•Financial Transactions and Reports Analysis Centre of Canada
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) imposed a CAD 33,000 penalty on 2147353 Ontario Inc., operating as Cash Shop #27, for non-compliance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The violation involved failing to provide requested compliance program documentation. FINTRAC reported issuing 12 notices of violation totaling CAD 26,115,999.50 in 2023–24 to encourage compliance.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-02-06•Saudi Arabia•Saudi Arabia Insurance Authority
The Saudi Arabia Insurance Authority approved Al-Mutamadoun Insurance Agency's cessation of business, while confirming that the company remains responsible for all outstanding obligations and amounts due.
SupervisionAuthorisations & approvalsClaims managementConsumer and investor protection
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2025-02-06•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee's Oversight and Investigations Subcommittee, led by Rep. Dan Meuser, is holding a hearing on the alleged impact of "Operation Choke Point 2.0" on the digital asset ecosystem. Meuser claims the FDIC pressured banks to deny services to digital asset firms through informal conversations and threats. The FDIC has pledged to address these concerns, and the subcommittee will explore legislative solutions to prevent similar practices.
Policy & regulationReform agendas & prioritiesUnlicensed or unauthorized activity
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2025-02-06•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee released a draft bill to establish a regulatory framework for dollar-denominated payment stablecoins, offering federal and state pathways for issuers. Led by Chairman French Hill and Subcommittee Chairman Bryan Steil, it proposes giving the Office of the Comptroller of the Currency authority over federally qualified nonbank issuers. The committee seeks public feedback and collaboration with the Trump Administration and Senate counterparts, including efforts like the Guiding and Establishing National Innovation for U.S. Stablecoins Act.
Policy & regulationRules & requirementsStablecoins
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2025-02-06•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority's November 2024 report details EGP 85.4bn in total financing across capital markets and non-banking financial services. Key figures include EGP 44.3bn in equity issuance, EGP 13.7bn in financial leasing, and EGP 8.7bn in MSME finance. The Movable Collateral Registry recorded EGP 2.9 trillion in asset registrations, while the insurance sector noted EGP 7.8bn in premiums and EGP 4.1bn in claims paid.
Data & statisticsActivity and performance reporting
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2025-02-06•Chile•Central Bank of Chile
The Central Bank of Chile's February Business Perceptions Report shows firms have stabilised or slightly improved performance despite concerns about rising costs and tight financing. Cost pressures stem from a higher USD exchange rate, electricity tariffs, and labour costs, while financing conditions are tight but less strict. Firms expect stable costs and sales soon, with slight price increases and a cautious outlook on recent improvements' persistence.
Data & statisticsEconomic data and developments
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2025-02-06•Albania•Bank of Albania
Bank of Albania Governor Gent Sejko emphasized improving agricultural sector access to finance, highlighting a new Financing Program for MSMEs as a key channel. The program, backed by an ALL 25 billion fund, aims to reduce borrowing costs and support investment, with commercial banks allocating funds at their own risk. The Governor also urged collaboration to address structural barriers and explore complementarities with government risk-sharing initiatives.
Policy & regulationImplementation, projects & pilotsSME financing
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2025-02-06•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) filed a complaint with the Public Prosecutor's Office against parties responsible for leaking confidential information from a sanctioning procedure involving the Structured Capital I investment fund. Despite a legal ban on disclosure under Article 43 of Decree Law No. 3,538, media published details from the procedure. This marks the CMF's fourth complaint regarding non-disclosure breaches in this case.
EnforcementInvestigations & enforcement actionsDisclosures
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2025-02-06•Moldova•National Commission for Financial Markets
Moldova's National Commission for Financial Markets (CNPF) acknowledged TV and radio broadcasters, along with other partners, for airing its “Responsible lending” campaign spot free of charge. The campaign, supported by various media and transport operators, aims to educate the public on consumer credit and financial options. The CNPF encourages further participation from media and companies.
Financial literacy & educationFinancial literacy and education
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2025-02-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority and Hong Kong’s Financial Services Development Council have signed a memorandum of understanding to enhance cooperation between their financial sectors. The agreement emphasizes mutual cooperation, information exchange, and the promotion of innovative financial products, including Islamic finance. It also aims to increase market connectivity through shared knowledge and joint activities.
Policy & regulationCooperationCross-border cooperation
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2025-02-06•Kuwait•Kuwait Capital Markets Authority
The Kuwait Capital Markets Authority issued Resolution No. 27 of 2025, amending Module Ten (Disclosure and Transparency) of its Executive Bylaws. The amendment introduces a standard disclaimer making issuers fully responsible for the accuracy and completeness of their disclosures, absolving the Authority and Boursa Kuwait Securities Exchange of any liability. This disclaimer is added to disclosure appendices 7, 8, 10, 11, 12, and 14.
Policy & regulationRules & requirementsDisclosures
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2025-02-06•United States•Commodity Futures Trading Commission
David Gillers will step down as Chief of Staff to Commodity Futures Trading Commission Commissioner Rostin Behnam on February 7. Gillers, who joined the agency in 2019, has been instrumental in policy work on digital assets, AI, market structure, and environmental derivatives, among other areas. His tenure also included overseeing the agency's return-to-office transition and the development of guidance on voluntary carbon credit derivatives.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•United States•Commodity Futures Trading Commission
The U.S. Commodity Futures Trading Commission (CFTC) refuted a Bloomberg report about Acting Chairman Caroline D. Pham and confirmed the removal of its former Human Resources head amid an internal investigation. The review addresses alleged false statements by Division of Enforcement staff, remote work policy breaches, and claims of illegal targeting of Republicans. An external law firm is independently reviewing alleged misconduct related to CFTC v. Traders Global Group and other enforcement matters.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•Russia•Central Bank of Russia
The Central Bank of Russia reported an 8.8% increase in incoming payments processed in January compared to the fourth quarter of 2024, as part of its Monitoring of Sectoral Financial Flows review. The rise was most significant in investment demand-oriented sectors, suggesting notable economic growth at the start of 2025. The bank also noted that some of the increase might be due to deferred payments and the extended New Year holidays.
Data & statisticsEconomic data and developments
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2025-02-06•Russia•Central Bank of Russia
The Central Bank of Russia removed Zanimatelnye Finansy LLC from the microfinance register for repeated violations of federal laws and Bank of Russia regulations. The company had unreliable reporting, understated debt service-to-income ratios, and issued loans at interest rates above the legal maximum. Additional infractions included excessive fines on overdue loans and aggressive sales of extra services.
SupervisionAuthorisations & approvalsConsumer and investor protection
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2025-02-06•Egypt•Central Bank of Egypt
The Central Bank of Egypt hosted a delegation from the Central Bank of Yemen to share expertise in digital payment systems and services. The visit focused on Egypt's digital payment systems, SWIFT activities, and Real-Time Gross Settlement System (RTGS) standards. Both banks agreed to enhance collaboration and continue discussions on digital payment services.
Policy & regulationCooperationCross-border cooperationPayments and payment systems
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2025-02-06•Canada•Bank of Canada
Bank of Canada Governor Tiff Macklem highlighted increased challenges for central banks in a shock-prone global economy, with structural changes and negative supply shocks complicating monetary policy. He noted that higher long-term interest rates, elevated sovereign debt, and weak productivity heighten vulnerability to shocks, exacerbated by trade protectionism and climate change. Macklem advocated for clearer communication on monetary policy limits, enhanced supply-side data analysis, and sustained international cooperation.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-06•Moldova•National Bank of Moldova
The National Bank of Moldova has appointed Mihnea Constantinescu as vice-governor and a member of its Executive Committee, following a decision by the Parliament of the Republic of Moldova. Constantinescu brings over 18 years of experience, including senior roles at the Bank of Lithuania and the National Bank of Ukraine, and has served as an adviser to the National Bank of Moldova governor since April 2024.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•Moldova•National Bank of Moldova
The National Bank of Moldova appointed Petru Rotaru as first deputy governor, deputy chair of the Supervisory Council, and deputy chair of the Executive Committee. Rotaru brings over 19 years of experience, having served as vice governor, Minister of Finance, and Director of the State Tax Service.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•United States•Financial Crimes Enforcement Network
The Financial Crimes Enforcement Network (FinCEN) imposed a USD 37 million penalty on Brink’s Global Services USA, Inc. for willful violations of the Bank Secrecy Act, marking its first action against an armored car company. Brink’s failed to register as a money services business, maintain an effective anti-money laundering program, and file suspicious activity reports related to high-risk currency shipments. The resolution includes an anti-money laundering program review, coordinated with the U.S. Attorney’s Office for the Southern District of California.
EnforcementInvestigations & enforcement actionsAML and CFT
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2025-02-06•Nepal•Nepal Insurance Regulatory Authority
The Nepal Insurance Regulatory Authority has approved Shree Janata Gram Nirman Bima Company Ltd to open a branch in Parwanipur, Birgunj, Parsa. This decision allows the insurer to conduct business at the new location.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-06•South Korea•Bank of Korea
The Bank of Korea reported a USD 12.37 billion current account surplus for December 2024, contributing to a USD 99.04 billion surplus for the year. Net financial account assets rose by USD 9.38 billion in December and USD 95.21 billion throughout 2024.
Data & statisticsBalance of payments and other external statistics
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2025-02-06•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission reported December 2024 insurance industry data, revealing a pre-tax profit of NT$341.5 billion and increased owners' equity year on year. Life insurers achieved a pre-tax profit of NT$315.5 billion, a 291.4% rise, while non-life insurers saw a 48.6% increase to NT$26 billion. The New Taiwan dollar depreciated 6.24% against the US dollar, impacting foreign exchange valuation reserves and resulting in a net effect of NT$-302.9 billion from exchange and hedging.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-06•Taiwan•Taiwan Financial Services Commission
The Taiwan Financial Services Commission has appointed Chih-chi Lin as Chief Secretary, succeeding Fu-longe Tsai, who has moved to the Ministry of Digital Affairs as Director General of the Administration for Cyber Security. Lin was previously Deputy Director-General of the Banking Bureau. The Executive Yuan approved these changes on 4 February 2025, effective 6 February 2025.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-06•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury will reduce interest rates on VAT and other indirect taxes effective 25 February 2025, aligning with the UK's recent adjustments following the Bank of England's base rate cut to 4.5%. The late payment interest rate will be set at 7%, and the repayment interest rate at 3.5%. Timely taxpayers will avoid late payment interest, while overpayments may earn repayment interest.
Policy & regulationRules & requirementsMonetary policy decisions and developments
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2025-02-06•Barbados•Central Bank of Barbados
The Central Bank of Barbados emphasized the critical role of airlift capacity in boosting long-stay visitor arrivals and economic growth, with tourism significantly contributing to export revenues. The note highlights a substantial increase in US airlift capacity since 2015, with seating capacity more than doubling and long-stay arrivals growing annually by 8.8 percent, despite challenges from source market economies. The bank suggests strategic adjustments and stronger partnerships with international carriers to capitalize on post-pandemic recovery opportunities.
ResearchEconomic data and developments
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2025-02-06•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank is consulting on establishing the Office of Financial Conduct and Inclusion and the Eastern Caribbean Financial Standards Board to enhance financial consumer protection and develop regional regulatory standards. The OFCI will oversee financial consumer protection and business conduct, while the ECFSB will set standards for insurance, pensions, and financial institutions. Consultations will engage a wide range of stakeholders from February to June 2025.
Policy & regulationReform agendas & prioritiesFinancial inclusionConsumer and investor protection
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2025-02-06•Caribbean•Eastern Caribbean Central Bank
The Eastern Caribbean Central Bank and the World Bank have launched a Resilient Renewable Energy Infrastructure Investment Facility for the Eastern Caribbean Currency Union to finance renewable energy projects. The initiative aims to attract private capital, reduce fossil fuel imports, and strengthen power grids through project preparation, competitive procurement, and financial innovation. Full operationalisation is anticipated in 2025.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-02-05•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Astary Consulting – Prestação de Serviços e Comércio, Lda as a corporate real estate appraisal expert. This authorization allows it to conduct property valuation activities to enhance transparency and confidence in the real estate market.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-05•Angola•Angola Capital Markets Commission
The Angola Capital Markets Commission has approved the registration of Landmark – Consultoria e Avaliação Imobiliária LDA as a corporate real estate valuation expert. This authorization enables the firm to conduct property valuation activities, promoting transparency and confidence in the real estate market.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-05•Saudi Arabia•Saudi Arabia Capital Markets Authority
Saudi Arabia's Capital Market Authority (CMA) is consulting on amendments to enhance fund management and investor protections. Changes include enabling fund unit distribution via platforms, strengthening fund termination provisions, and allowing real estate investment funds on the Parallel Market to invest in development projects. The amendments also permit capital market institutions to distribute foreign funds and offer securities in the Kingdom, subject to requirements.
Policy & regulationRules & requirementsMarket development
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2025-02-05•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Dallah Healthcare Co.'s capital increase to acquire 97.41% of Al-Ahsa Medical Services Co. and all shares of Al-Salam Medical Services Co. from Ayyan Investment Co. The capital will rise from SAR 976,811,660 to SAR 1,015,747,690 through issuing 3,893,603 ordinary shares. The CMA emphasized that its approval confirms legal compliance but does not endorse the feasibility of the capital increase.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-05•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority announced that Al-WAA for Financial Technologies has fulfilled the requirements for a financial technology experimental permit to test robo-advisory services. This experiment is conducted under the Capital Market Law and related regulations, following a CMA Board decision from April 5, 2023.
SupervisionInnovation & testingRegulatory sandbox
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2025-02-05•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released its Bank Lending Survey for Q3 2024, indicating stable lending standards and terms for firms and households. Business loan demand remained steady, while household demand rose for housing loans, with no change in consumer and other loan demand.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-02-05•Ukraine•National Bank of Ukraine
The National Bank of Ukraine and the European Bank for Reconstruction and Development have issued a Guidance Note to help Ukrainian financial institutions become more inclusive employers for war veterans and affected groups. Developed with Korn Ferry, it includes recommendations on HR practices and resocialisation support, aligning with Ukrainian legislation. The EBRD will support monitoring and reporting on implementing these measures.
Policy & regulationGuidance & interpretationFinancial inclusionOther
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2025-02-05•Bahamas•Bahamas Securities Commission
The Securities Commission of The Bahamas and the Compliance Commission of The Bahamas announced mandatory annual training for eligible persons seeking approval as authorised agents to conduct examinations of financial and corporate service providers. The virtual training is scheduled for 26 February 2025 and is open to Bahamas Institute of Chartered Accountants licensees.
Policy & regulationRules & requirementsAML and CFTSupervision process and methodologies
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2025-02-05•Denmark•Danish Finanstilsynet
The Danish Financial Supervisory Authority updated its annual statement on suitability assessments for director and key position candidates in financial firms, adding new practical examples. The statement emphasizes a holistic approach considering education and experience, including non-financial sector experience. It clarifies that these assessments focus on the "fit" aspect of fit and proper reviews, excluding integrity evaluations.
Policy & regulationGuidance & interpretationFitness and propriety
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2025-02-05•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the re-opening of trading for Codic International financial instruments. Trading will resume on 05/02/2025 at 09:00 CET for instruments with ISIN BE0002825066 and ISIN BE0002710912, under Article 78 of the Law of 21 November 2017.
SupervisionAuthorisations & approvalsTrading
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2025-02-05•Australia•Australian Securities & Investments Commission
ASIC has charged Mark Barnes, a New South Wales company director, with two counts of dishonestly obtaining a financial advantage by deception and one count of attempting to do so. The charges involve alleged false-invoice financing with Barnes Marketing Services Pty Ltd and Handley Advisory Partners Pty Ltd. Barnes allegedly sold false invoices for services to the Sydney Symphony Orchestra, gaining AUD 1,318,979 and AUD 1,159,645 without rendering services. The case, prosecuted by the Office of the Director of Public Prosecutions, is adjourned to 4 March 2025.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-02-05•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority and FSD Africa hosted a forum in Dar es Salaam on insurance's role in Africa's economic development, focusing on affordable, long-term products. Discussions highlighted the importance of an insurance regulatory sandbox and forming consortiums in sectors like agriculture and oil and gas to reduce costs. Stakeholders emphasized innovation and affordability in the insurance sector.
Policy & regulationCooperationMarket development
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2025-02-05•Tanzania•Tanzania Insurance Regulatory Authority
The Tanzania Insurance Regulatory Authority reported that Insurance Commissioner Dr. Baghayo Saqware met with NMB Bank's CEO Ruth Zaipuna to discuss developing the insurance sector, focusing on bancassurance. The Commissioner emphasized opportunities for bank insurance agents to expand services and praised NMB's strategy to promote insurance uptake. NMB expressed gratitude for the Authority's cooperation and highlighted its investment in public education.
Policy & regulationCooperationMarket development
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2025-02-05•United Arab Emirates•Central Bank of the UAE
The Central Bank of the UAE signed a Memorandum of Understanding with the Economic Security Centre of Dubai to enhance cooperation and information sharing in combating financial crime. The agreement includes exchanging best practices, aligning with international guidelines, and supporting the UAE's role in the Financial Action Task Force. It also focuses on staff training and joint awareness campaigns to bolster professional skills.
Policy & regulationCooperationAML and CFTCross-border cooperation
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2025-02-05•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has added nine projects to its list of unreliable investment schemes, totaling 401 flagged "SCAM projects." The Commission warns investors about risks from unregulated individuals and entities providing false information about licensed activities. The full list and assessment tools are available on the Commission's website.
SupervisionAlertsFraud and scams
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2025-02-05•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market warned of increasing information attacks aimed at destabilizing its operations, particularly affecting international cooperation. These attacks involve false information and manipulation, potentially jeopardizing financial support from international partners during the war. It urged adherence to the Code of Ethics for Journalists to prevent harm to the state's image.
SupervisionAlertsOperational risk and resilience
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2025-02-05•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL's report urges Bosnia and Herzegovina to improve its anti-money laundering and counter-terrorist financing framework, noting moderate effectiveness in nine of 11 areas. Key gaps include implementing UN financial sanctions, addressing terrorist financing risks in the non-profit sector, and improving money laundering investigations and confiscations. MONEYVAL placed the country under enhanced follow-up, requiring a report by December 2026.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-02-05•Ireland•Department of Finance (Ireland)
Ireland’s Department of Finance appointed Michael Byrne to the Credit Union Advisory Committee (CUAC), replacing Michael Ahern. Byrne will serve until 31 December 2027, joining recent appointees Therese Conway and Professor Brian O’Kelly. The CUAC advises on credit union management and member protection under the Credit Union Act 1997.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-05•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier granted a derogation from the Takeover Law, exempting parties acting in concert from launching a takeover bid for Iris Financial S.A. shares during its business combination with Younited S.A. The waiver, under Article 4(5) of the Law on takeover bids, was justified by transaction transparency, shareholder decision-making opportunities, and the temporary nature of the control arrangement, ensuring minority shareholder protection.
SupervisionAuthorisations & approvalsLicence approval
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2025-02-05•Europe•European Banking Authority
The European Banking Authority (EBA) supports the European Commission's proposed amendments to the EBA draft Regulatory Technical Standards on conflicts of interest for issuers of asset-referenced tokens under the Markets in Crypto-Assets Regulation. The EBA agrees with the Commission's substantive changes, emphasizing proportionality, and views the remaining amendments as non-substantive. The draft standards aim to enhance conflict management and ensure consistent requirements across the EU, addressing governance failures in the crypto-asset market.
Policy & regulationGuidance & interpretationTokenization
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2025-02-05•Ukraine•National Bank of Ukraine
The National Bank of Ukraine reported its special fundraising account for defence has allocated nearly UAH 43.4 billion, with over UAH 5.4 billion transferred. As of 1 February 2025, the balance was over UAH 18.3 billion, having received over UAH 61.8 billion since the war began. Over UAH 40.9 billion in foreign currency inflows came from abroad, with daily updates available on the bank's website.
Data & statisticsOther
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2025-02-05•United States•National Futures Association
The National Futures Association (NFA) has fined Futu Futures Inc. USD 100,000 for failing to timely file required financial reports and notifications, and for inadequate supervision. The Business Conduct Committee (BCC) found violations of NFA Financial Requirements Sections 1(d) and 1(e) and Compliance Rule 2-9(a). Futu Futures Inc. must cease and desist from further violations.
EnforcementInvestigations & enforcement actionsAccounting and financial reporting
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2025-02-05•Sweden•Riksbank
The Riksbank announced that the International Monetary Fund has released a staff concluding statement following its 2025 Article IV mission to Sweden, summarizing the delegation's assessment of the Swedish economy. The complete Article IV report will be available later in the spring.
OtherEconomic data and developments
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2025-02-05•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 has drafted a Law on Credit Rating Agencies to establish their legal status and operating principles. It aims to create local rating agencies, define regulatory and supervisory regimes, and set requirements for conflict-of-interest management, information disclosure, and corporate governance. The draft law is part of the Financial Sector Development Concept through 2030.
Policy & regulationRules & requirementsCredit ratings
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2025-02-05•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 approved E.V. Shaiymerden as Chief Accountant, N.Kh. Khudaibergenov as an executive body member, and D.B. Abishev as head of the executive body in the insurance sector. The Agency clarified that senior managers meeting qualification requirements can transfer within the sector without additional consent, as detailed in the insurance sector register.
SupervisionAuthorisations & approvalsLeadership change and appointments
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2025-02-05•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Pension Fund Administrators (SBS) ordered the closure of LIMA CAPITAL GROUP S.A.C. for unauthorized public fund-taking, violating Article 11 of Law No. 26702. The firm promised annual returns of 15% to 32% through loan agreements without SBS authorization. Following ignored cessation requests, SBS filed a criminal complaint, leading to a court-ordered search and closure of the firm's premises.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-02-05•Portugal•Portuguese Securities Commission (CMVM)
The Portuguese Securities Commission (CMVM) has released a public consultation paper on proposed amendments to regulations for Securities Central Depositories, Central Counterparties, and market operators, systems, and services. The draft regulation aims to update CMVM Regulation No. 5/2018, No. 1/2015, and No. 4/2007.
Policy & regulationRules & requirementsMarket infrastructure
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2025-02-05•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued a public alert about fraudulent websites and applications linked to China Construction Bank (Asia) Corporation Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who may have interacted with these fraudulent channels are advised to contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-02-05•Europe•European Central Bank
The European Central Bank released Annex I detailing "core output variables" national central banks must report for the Household Finance and Consumption Survey. It includes instructions on reporting units, handling missing values, and variable structure, with specific requirements for anonymisation and imputation. It also defines reference concepts, looping conventions, sample-register and technical variables, including the transmission of replicate weights.
Policy & regulationRules & requirementsRegulatory reporting
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2025-02-05•Europe•European Central Bank
The European Central Bank (ECB) analyzed how unexpected US Federal Reserve policy changes affect the euro area and monetary policy. A surprise US tightening initially raises euro area inflation but reverses over time due to tighter US financial conditions and weaker demand. The ECB warns against mirroring US policy moves, as this could worsen medium-term impacts and affect its inflation target.
Monetary policyMonetary policy assessments & outlooks
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2025-02-05•Qatar•Qatar Central Bank
Qatar Central Bank Governor H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani met with Global Infrastructure Partners CEO Adebayo Ogunlesi to discuss key global financial and investment developments.
Other
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2025-02-05•Bosnia and Herzegovina•Central Bank of Bosnia and Herzegovina
The Central Bank of Bosnia and Herzegovina reported discussions between Governor Jasmina Selimović and Germany’s ambassador, Thomas Fitschen, on financial-system stability and aligning regulations with European standards. The meeting emphasized Bosnia and Herzegovina’s integration into the Single Euro Payments Area (SEPA) and cooperation with the Deutsche Bundesbank under an Instrument for Pre-accession Assistance project. Germany's foreign investment in Bosnia and Herzegovina reached BAM 240 million in 2024, supporting reforms in financial stability, digitalisation, and European integration.
Policy & regulationCooperationCross-border cooperation
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2025-02-05•Philippines•Central Bank of the Philippines
The Central Bank of the Philippines has partnered with the Palawan Group of Companies to expand the Bangko Sentral ng Pilipinas Piso Caravan, enhancing access to currency exchange facilities for unfit banknotes and coins. Palawan Group will serve as a Currency Exchange Center, leveraging its extensive network to promote financial literacy and proper currency handling across the nation.
Policy & regulationImplementation, projects & pilotsCurrency and cash management
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2025-02-05•Andorra•Ministry of Finance (Andorra)
Andorra's Ministry of Finance has renewed Sílvia Cunill’s appointment as chair of the board of the State Agency for the Resolution of Banking Entities (AREB). The renewal, proposed by Finance Minister Ramon Lladós, is effective upon publication in the Official Gazette of the Principality of Andorra.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-02-05•United States•New York State Department of Financial Services
The New York State Department of Financial Services (DFS) approved Neversink and Denning as a Banking Development District (BDD) and designated Hudson Valley Credit Union’s Grahamsville branch as a participating BDD branch. DFS also approved Hudson Valley Credit Union’s Green Island branch to join the existing Green Island BDD, enhancing access to state-supported benefits for underserved areas. This is the seventh BDD approval since Superintendent Adrienne A. Harris began her tenure in September 2021.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-02-05•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission's Corporate Issuer Relations Superintendence issued Circular Letter CVM/SEP 1/2025, guiding listed companies on document associations in the Empresas.Net system for voting map submissions for shareholder meetings from 1 January 2025, per CVM Resolution 81. Companies must submit synthetic maps 24 hours before meetings, with an option for a consolidated map. A final summary voting map is due the next business day, or a detailed map within seven business days.
Policy & regulationGuidance & interpretationOther
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2025-02-05•South Korea•South Korea Financial Services Commission
The South Korea Financial Services Commission approved Nextrade to operate an alternative trading system (ATS), introducing competition to the Korea Exchange (KRX) from 4 March 2025. Nextrade will offer extended trading hours, lower execution fees, and phase in KRX-listed items, adhering to Financial Supervisory Service guidelines. Further reforms include potential ATS trading of exchange-traded funds and notes, with fees subject to market efficiency committee review.
SupervisionAuthorisations & approvalsMarket development
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2025-02-05•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan has joined the Global Financial Innovation Network (GFIN) as an observer member to support digital financial solutions and innovation. This membership allows the bank to engage with global regulators and innovators, aiming to align technological development with international standards and enhance market resilience. GFIN unites financial regulators, central banks, and fintech bodies to promote financial technology innovation.
Policy & regulationCooperation
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2025-02-05•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia reviewed WB Bitkub Exchange (Cambodia) Co., Ltd's business plan for entry into the Digital Securities Sandbox and offered recommendations.
Policy & regulationImplementation, projects & pilotsRegulatory sandbox
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2025-02-05•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia joined a QUAD meeting to discuss sustainable finance initiatives led by ASEAN sectoral bodies. Key topics included the ASEAN Taxonomy for Sustainable Finance, Transition Finance Guidance, Voluntary Carbon Market Study, and the ASEAN Sustainable Finance Support Hub. The meeting involved various ASEAN committees and was coordinated by the ASEAN Secretariat and Sustainable Finance Institute Asia.
Policy & regulationCooperationClimate risk and sustainable finance
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2025-02-05•Thailand•Thailand Securities & Exchange Commission
Thailand's Securities and Exchange Commission has enhanced its "Too Good to Be True… Don’t Invest" campaign with new music-based content to help the public identify investment scams. Launched in 2023, the campaign focuses on five warning signs and has blocked 99.76% of reported scam accounts. The SEC collaborates with government agencies and social media platforms to combat scams, with the new content set for distribution via YouTube and radio stations in early 2025.
Financial literacy & educationFraud and scams
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2025-02-05•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission issued an alert warning of fraudsters impersonating companies listed on the Stock Exchange of Thailand to solicit investments. Reported losses from these scams total THB 26,899 million. Investors are urged to verify trading accounts, recipient bank accounts, and solicitations with SEC-licensed entities.
SupervisionAlertsFraud and scams
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2025-02-05•Global•ISDA
The International Swaps and Derivatives Association (ISDA) called for a redraft of US Basel III 'endgame' proposals to improve risk sensitivity and avoid cost increases that could impede bank intermediation and market liquidity. ISDA expressed concerns about moving away from internal models under the Fundamental Review of the Trading Book (FRTB) and the impact of higher capital requirements on US global systemically important bank (G-SIB) client clearing businesses, connecting these to the Securities and Exchange Commission's US Treasury market reforms.
Policy & regulationInternational standards & recommendationsCapital adequacyPrudential risks
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2025-02-05•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Before a Senate Banking Committee hearing on debanking, Ranking Member Elizabeth Warren urged President Trump to prevent debanking and allow the CFPB to proceed with safeguards. Warren criticized the halt of CFPB activities by Treasury Secretary and Acting CFPB Director Scott Bessent, citing consumer complaints and highlighting five CFPB workstreams to address debanking. She also called for federal agencies to use their authority to tackle debanking and reverse the CFPB freeze on rulemaking and enforcement.
Policy & regulationReform agendas & prioritiesOther
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2025-02-05•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
After a U.S. Senate Committee hearing on debanking, Ranking Member Elizabeth Warren urged President Trump to resume CFPB rulemaking to address unfair account closures. Her analysis of the CFPB database revealed 11,955 debanking complaints, mainly involving major banks, linked to overdraft fees and discrimination. She called for enhanced transparency and clearer anti-money laundering guidance from regulators to mitigate debanking as a risk-management strategy.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-02-05•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on debanking, with Chairman Tim Scott criticizing federal regulators for pressuring financial institutions to cut services to certain businesses and individuals. Scott highlighted concerns over service terminations affecting digital asset firms and conservative-aligned entities, labeling it "Operation Chokepoint 2.0." The hearing aims to investigate these practices and develop a bipartisan response to ensure fair access to financial services.
Policy & regulationReform agendas & prioritiesOther
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2025-02-05•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
The U.S. Senate Committee on Banking, Housing and Urban Affairs confirmed Scott Turner as Secretary of the Department of Housing and Urban Development. Chairman Tim Scott emphasized addressing housing affordability and homelessness, noting an 18% increase in homelessness and rising mortgage and rent rates. He advocated for commonsense housing solutions and reduced bureaucratic red tape. Turner's leadership in Opportunity Zones was noted for directing over USD 50bn into distressed communities with minimal gentrification.
Institutional developmentLeadership change & appointmentsOther
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2025-02-05•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority (Finansinspektionen, FI) will join Stockholm Fintech Week on 11–12 February, offering guidance on banking, anti-money laundering, securities trading, and more. FI experts will provide insights on payment services, crypto-assets, insurance supervision, and the Digital Operational Resilience Act (DORA). FI also highlighted ongoing guidance availability through its innovation centre and participation in sessions on open financial services and AI in the Swedish financial sector.
Policy & regulationGuidance & interpretationFintech and insurtech
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2025-02-05•Eswatini•Central Bank of Eswatini
The Central Bank of Eswatini's December 2024/January 2025 Monthly Statistical Release reports modest growth in private sector credit, a sharp contraction in broad money, and weaker banking-sector liquidity, alongside improved gross official reserves. Credit to the private sector rose 0.8% month-on-month to SZL 20.4 billion, while broad money fell 7.4% to SZL 24.5 billion. The discount rate and commercial banks’ prime lending rate remained at 7.00% and 10.50%, respectively.
Data & statisticsMonetary data
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2025-02-05•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee held a hearing on community banking and potential reforms, referencing Chairman French Hill’s principles for enhancing community banks. The hearing reviewed bills, including H.R. 478 and H.R. 976, addressing initial capital requirements and the repeal of Section 1071. Witnesses supported the Committee's focus on regulatory adjustments and innovation in community banking.
Policy & regulationRules & requirementsOther
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2025-02-05•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee, led by Chairman French Hill, held a hearing on community banking reforms to reduce regulatory burdens and improve capital access. Hill noted the decline in U.S. banks and new formations, citing regulatory challenges and high capital requirements as barriers. The committee's priorities include regulatory fairness, transparency, and supporting bank health, with discussion drafts as a basis for future legislative efforts.
Policy & regulationReform agendas & prioritiesOther
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2025-02-05•Iceland•Central Bank of Iceland
The Central Bank of Iceland released the Monetary Policy Committee's statement and Monetary Bulletin, accompanied by a webcast press conference led by key officials.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-05•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its quarterly Monetary Bulletin 2025/1, detailing economic and monetary developments, with updated inflation and macroeconomic forecasts included in the February edition.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-05•Iceland•Central Bank of Iceland
The Monetary Policy Committee of the Central Bank of Iceland unanimously reduced the key policy rate on seven-day term deposits by 0.5 percentage points to 8.0%, citing continued disinflation and weaker demand growth. Despite lower inflation, the Committee maintained a tight monetary stance due to persistent inflation pressures and global uncertainty, with updated rates for overnight loans at 9.75%, seven-day collateralised loans at 8.75%, and current accounts at 7.75%.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-02-05•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its Monetary Policy Committee statement and Monetary Bulletin, followed by a webcasted press conference featuring key officials to discuss the publications.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-05•Iceland•Central Bank of Iceland
The Central Bank of Iceland released Monetary Bulletin 2025/1, providing updated inflation and macroeconomic forecasts as part of its quarterly report on economic and monetary developments.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-02-05•Iceland•Central Bank of Iceland
The Monetary Policy Committee of the Central Bank of Iceland unanimously reduced the key interest rate on seven-day term deposits by 0.5 percentage points to 8.0%, amid falling inflation and a cooling housing market. Despite these trends, the Committee emphasized ongoing inflation pressures and global economic uncertainty, indicating that future policy will remain cautious and responsive to economic developments.
Monetary policyPolicy rate decisionsMonetary policy decisions and developments
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2025-02-05•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) released 175 documents on its supervision of banks in crypto activities to enhance transparency. The materials reveal resistant supervisory interactions, with directives to pause or refrain from expanding crypto activities. The FDIC is reevaluating its approach, including replacing Financial Institution Letter 16-2022 and collaborating with the President’s Working Group on Digital Asset Markets.
SupervisionSupervision approach, priorities & toolkitFintech and insurtechSupervision process and methodologies
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2025-02-05•Albania•Bank of Albania
The Bank of Albania's Supervisory Council kept the policy rate at 2.75% and approved regulatory amendments to enhance consumer protection and transparency in banking and financial services. Changes include revising the Effective Interest Rate calculation for loans in the ALL 0–200,000 range and standardizing advertising requirements for financial products. The amendments aim to lower consumer credit costs and improve transparency, especially for non-banking financial institutions.
Policy & regulationRules & requirementsConsumer and investor protection
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2025-02-05•United States•Federal Reserve Board
The Federal Reserve Board's FEDS Note reviews survey-based evidence on AI adoption in the workplace, showing substantial variation across surveys. Firm-level AI adoption estimates range from under 5% to around 40%, influenced by measurement choices like firm-weighted versus employment-weighted results. Worker-level surveys indicate 20-40% AI usage, with higher rates among programmers, noting significant growth despite differing estimates.
ResearchArtificial intelligence
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2025-02-05•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) will hold a public roundtable in about 45 days to discuss prediction market regulation following its information requests on sports-related event contracts. The agenda will address regulatory obstacles, including CFTC Regulation 40.11, federal court decisions, and issues related to sports betting under the Commodity Exchange Act. Topics will also cover retail binary options fraud, customer protection, and potential revisions to CFTC regulations to support innovation.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-02-05•United States•Federal Reserve Board
The Federal Reserve Board released hypothetical scenarios for its 2025 stress test of 22 large banks, including a severe global recession and significant declines in real estate and asset prices. The test includes exploratory elements assessing banks' responses to credit and liquidity shocks and a market shock scenario for the largest banks. Aggregate results will be published in June 2025, with plans to enhance model transparency and reduce volatility in stress test outcomes.
SupervisionReviews, inspections & stress testsStress testing
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2025-02-05•Russia•Central Bank of Russia
The Central Bank of Russia revised capital adequacy ratio rules for securities market participants to mitigate financial stability risks. Changes include adjustments to credit and market risk calculations, restrictions on collateral acceptance, and new methods for assessing digital rights and option contracts. The ordinance discourages large open foreign currency positions and simplifies credit risk rate rules for counterparties and clients.
Policy & regulationRules & requirementsCapital adequacy
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2025-02-05•Russia•Central Bank of Russia
The Central Bank of Russia has implemented new rules for consumer credit cooperatives' (CCCs) market entry, effective 5 February 2025, to enhance transparency. CCCs will now be registered only after document review by a self-regulatory organization or the Central Bank, based on their level. The framework includes procedures for maintaining the register and assessing management qualifications and reputation.
Policy & regulationRules & requirementsLicensing framework and process
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2025-02-05•Russia•Central Bank of Russia
The Central Bank of Russia reported fewer complaints about bundling additional services and misselling, but more about cyber fraud and banks blocking accounts. Conduct supervision reduced complaints about banks promoting extra services, while cyber fraud complaints rose due to new techniques. From March 2025, citizens can ban consumer loan agreements via the Public Services portal to prevent fraud.
SupervisionRisk monitoring & watch pointsConsumer and investor protection