The Tanzania Insurance Regulatory Authority conducted a one-day internal training for staff on mental health and ethics in the public service to enhance employee wellbeing and discourage corruption. The training, opened by Insurance Commissioner Dr. Baghayo Saqware, addressed workplace stress management and ethical principles such as service delivery and integrity.
The Tanzania Insurance Regulatory Authority (TIRA) and the Tanzania Police Force’s Traffic Division are collaborating to enhance road safety by proposing system integration for quicker handling of accident information and insurance claims. A workshop in Dodoma is planned to strategize on reducing road accidents, with a focus on strengthening insurance education for police commanders.
The Ukraine National Commission on Securities and Stock Market has prohibited the withdrawal of foreign issuer securities from the depository accounting system during martial law, effective January 1, 2025, as an urgent IMF structural benchmark. The Commission is also progressing on EFF-related tasks, including a reorganisation strategy, updating the Code of Ethics, and initiating an independent assessment of Commission members. Terms of reference for a review of senior management’s compliance with the Code of Ethics have been agreed with the IMF.
The Bermuda Monetary Authority seeks proposals for a pilot project to test "embedded supervision" in decentralised finance (DeFi), integrating regulatory oversight into DeFi technology. The initiative invites stakeholders to explore risk-based DeFi models, real-time supervision, and data transmission to regulators. Pilot concepts include regulatory decentralised autonomous organisations, smart contract coding of regulatory requirements, and real-time compliance reporting tools.
The Algeria Market Authority's second-half 2024 bulletin highlights a new AML, terrorist financing and proliferation financing regime, with related instructions on supervision, customer due diligence, reporting, qualified investors and order handling. It also records approvals for several bond and equity offerings, including a Tosyali transaction of up to DZD 20 billion and Banque de Développement Local's 30% capital increase, as well as new brokerage authorizations and digital platforms.
The Bermuda Monetary Authority (BMA) warned about fraudulent social media posts and a PDF falsely claiming to be official BMA materials, promoting the unlicensed PrimeAurora crypto-currency platform. The content includes a fabricated report and unauthorized BMA logo, misleadingly suggesting legal actions by the "Central Bank of Bermuda." The BMA emphasized the risks of engaging with unregulated entities, especially those introduced through fraudulent claims.
The National Bank of the Republic of North Macedonia released a video interview with Governor Anita Angelovska-Bezoska discussing reforms to align domestic regulations with European standards to boost foreign direct investment (FDI) and economic growth. She emphasized harmonizing banking and payments laws with EU regulations to facilitate integration into the Single Euro Payments Area (SEPA) ahead of EU accession. Angelovska-Bezoska noted that two-thirds of FDI originates from the EU and highlighted SEPA integration's potential benefits for reducing cross-border trading costs and enhancing competitiveness.
The Bank of Italy has announced a call for papers for its inaugural Annual Research Conference on Monetary Policy, scheduled for 12-13 June 2025. The event will feature keynote speakers Professor George-Marios Angeletos and Professor Vasso Ioannidou, focusing on topics such as information frictions, monetary-fiscal interactions, and policy transmission through financial intermediaries.
The Bank of Italy released five Occasional Papers addressing topics such as commercial real estate loan-to-value and default risk, banks’ carbon pledges, cost differences between unit-linked policies and mutual funds, renewable energy development in Italy, and a local logit approach for forecasting corporate default probabilities.
The Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has updated the Collective Investment Sector Reporting Tool (CISERO) on its eDesk platform, incorporating changes from Circular CSSF 24/856 and supervisory feedback. Updates include modifications to the Self-Assessment Questionnaire (SAQ) and Separate Report, focusing on passive non-compliance classification and NAV determination. A new CISERO Dashboard section supports the submission of letters for modified audit opinions, with changes in submission procedures for UCIs with financial year-ends from 31 December 2024.
The National Bank of Ukraine appointed Lesia Kolesan as Director of its Procurement Department, effective 3 February 2025. She will oversee procurement planning, contractual work, and the NBU Procurement Commission. Kolesan previously served as Acting Director and Head of the Public Procurement Office.
The Bank of Portugal reported Maastricht public debt at EUR 270.7 billion at end-2024, an increase of EUR 8.8 billion from end-2023, with the debt-to-GDP ratio decreasing to 95.3% from 97.9%. The annual rise was driven by higher debt securities and loans, while deposit liabilities decreased. Public administrations’ deposit assets increased by EUR 1.9 billion, bringing net debt to EUR 257.3 billion.
The Consumer Financial Protection Bureau announced that President Trump appointed Secretary of the Treasury Scott Bessent as Acting Director on January 31, 2025. Bessent aims to collaborate with the CFPB to further the administration's goals of reducing costs and boosting economic growth. The CFPB continues its mandate to enforce federal consumer financial laws and promote fair and competitive markets.
The Banking Agency of the Federation of Bosnia and Herzegovina has outlined supervisory expectations for banks in 2025, focusing on short- and medium-term priorities. These expectations aim to enhance supervisory planning and dialogue, support the implementation of supervisory measures, and encourage banks to adopt policies that bolster economic development and sector stability.
The Portuguese Securities Commission (CMVM) has released its Strategic Plan for 2025-2028, focusing on results-driven supervision, regulatory stability, and investor confidence. Key initiatives include enhancing data-driven supervision, refining regulatory methodologies, and advancing investor protection against digital fraud. The plan also emphasizes market development and internal process improvements, with implementation beginning in 2025.
The Cyprus Securities and Exchange Commission (CySEC) announced that the Supreme Constitutional Court dismissed Demetris Playbell’s appeal, upholding CySEC’s €10,000 fine for a breach of the Public Offer and Prospectus Law. The Court confirmed CySEC's legal procedure and justification for the fine, also supporting CySEC's counter-appeal against the Administrative Court's assertion of shared responsibility for prospectus content.
The UK Parliament’s Treasury Committee has launched an inquiry into artificial intelligence impacts in financial services, focusing on consumer protection and systemic risk management. It will assess AI adoption across banking, pensions, and fintechs, examining productivity, job impacts, and international comparisons. It will also explore financial stability threats, cybersecurity, and consumer-related issues like data protection and bias.
The Hong Kong Monetary Authority's Q4 2024 Survey on SMEs’ Credit Conditions indicates broadly stable credit conditions. While 70% of SMEs viewed banks' credit approval stance as "similar" or "easier" than six months prior, this is a decrease from 76% in the previous quarter. The survey, covering about 2,500 SMEs, highlights potential volatility due to small sample sizes for existing credit lines and new applications.
The Federal Reserve Bank of Cleveland appointed 42 new members to its advisory councils, including 17 for the newly established Shenango-Mahoning Valley Business Advisory Council. These appointments enhance the bank's ability to gather real-time economic insights across the Fourth Federal Reserve District, with a focus on business, community, and economic trends affecting low- and moderate-income individuals.
The European Central Bank's Working Paper 3017 examines how deviations from covered interest rate parity, measured by the USD-EUR cross-currency basis, impact international capital flows. The study finds that a widening basis leads euro-area investors to reduce hedging and shift from USD to EUR bonds, affecting bond pricing. The analysis highlights significant effects on investors with high FX rollover risk and mutual funds with FX hedging mandates.
The European Central Bank's Working Paper examines the impact of the regulatory leverage ratio (LR) on euro area banks' reserve demand and overnight liquidity pricing. The study finds a significant link between a bank's LR and the spread between its overnight borrowing rate and the Eurosystem deposit facility rate in unsecured and OTC trades, with a weaker relationship for CCP-cleared transactions. The findings suggest implications for monetary transmission, especially for banks near the 3% LR requirement and global systemically important banks.
The National Bank of the Republic of Tajikistan and the International Finance Corporation discussed expanding cooperation on financial sector innovation and digitalisation, focusing on transitioning to a cashless economy. Talks included joint projects under the National Financial Inclusion Strategy and initiatives to enhance digital financial literacy, particularly among youth. The central bank emphasized its role in fostering access to innovative financial services.
The Brazilian Superintendence of Private Insurance (SUSEP) announced Director Júlia Normande Lins will participate in a webinar on Brazil’s National Trans Visibility Day, discussing the adoption of "social name" fields in the insurance sector. The event will highlight insurers' efforts to promote respect and inclusion of transgender individuals through contractual adjustments.
The Liechtenstein Financial Market Authority (FMA) implemented a new legal framework for supervising banks and investment firms effective 1 February 2025. This framework restructures prudential and conduct requirements, aligning with EU regulations and introducing new acts for banking, investment firms, and trading venues. The FMA is updating its decrees and guidelines to align with the new legal framework.
The Liechtenstein Financial Market Authority has expedited the EU's Digital Operational Resilience Act, introducing a new incident reporting form for serious ICT-related incidents via its e-Service Portal from 1 February 2025. ICT incidents must be reported when they meet criteria under Commission Delegated Regulation (EU) 2024/1772, with voluntary reporting for significant cyber threats also supported. Reports should use the European Supervisory Authorities’ templates, available in English and completable in German or English.
The Jordan Securities Commission signed a memorandum with the German Jordanian University to enhance cooperation on capital markets education, student training, and securities market legislation awareness. The agreement includes training lectures, educational material integration, a student programme for financial ideas, technical cooperation, joint research, and collaboration on virtual currencies, financial services, and regulatory updates.
The Central Bank of Curaçao and Sint Maarten held a symposium on "Footprints of Government in the Economy: Analysing the Trade-offs," emphasizing evidence-based policymaking and sustainable fiscal policy. Executive Director Dr. José Jardim highlighted vulnerabilities in public finances and risks to Aruba’s social-security system, advocating for growth-oriented fiscal practices. Presentations underscored the negative impact of high government spending on growth.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) and the Philippine National Police (PNP) filed criminal complaints against six individuals for willfully destroying Philippine coins. The complaints, based on entrapment operations in Siquijor and Boracay, were lodged with local prosecutors. The BSP referenced Presidential Decree No. 247, which penalizes the defacement or destruction of currency with imprisonment and fines.
The Central Bank of the Philippines and the Philippine National Police have filed criminal cases against six individuals for wilfully destroying Philippine coins. The cases, involving activities such as making rings from PHP 10 coins, were lodged with the Siquijor and Aklan Provincial Prosecutor’s Offices. Under Presidential Decree No. 247, such acts are illegal and punishable by up to five years’ imprisonment and/or a fine of up to PHP 20,000.
The Central Bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) signed a memorandum of understanding with the Royal Canadian Mint to collaborate on currency management and gold refining over five years. The partnership emphasizes sustainability, cost-effective currency production, and commemorative coin production, including technology exchange and staff training. This MOU follows BSP's previous agreements with Banque de France and Bundesdruckerei GmbH on payments and currency management.
The Dominican Republic Superintendency of Banks outlined its 2025 strategy, focusing on enhancing risk-based supervision, SupTech tools, and market conduct supervision. Key initiatives include supporting micro, small, and medium-sized enterprises, updating service applications, and relaunching Misión Centinela to combat fraud. The SB also plans to consolidate its ISO-based management system, implement a data governance programme, and execute its 2025–2028 Institutional Strategic Plan.
The South Korea Financial Services Commission proposed amendments to the Financial Investment Services and Capital Markets Act to establish legal frameworks for fractional investment and digital securities lending platforms and expand alternative trading system activities to include exchange-traded funds and notes. The draft includes new licensing categories with specific equity capital requirements, tightened conduct expectations for IPO bookrunners, and changes to listings, repos, and bond trading. Public comments are invited until March, with implementation anticipated by June 2025.
The Institutional Investors Group on Climate Change, Eurosif, and the Principles for Responsible Investment urge the European Commission to uphold the EU sustainable finance framework's integrity amid revisions. Backed by over 200 financial sector actors managing EUR 6.6 trillion, they warn against reopening core rules, which could cause regulatory uncertainty and weaken sustainability disclosures. They emphasize the importance of the EU Taxonomy, CSRD, and CSDDD, advocating for streamlined technical standards and clearer guidance instead of rewriting laws.
The Seychelles Financial Services Authority (FSA) issued a scam alert regarding traderstarfx International Ltd and its website, which falsely claim FSA regulation under licence number SD049. The FSA clarified that the entity is not licensed or regulated by them and urged the public to perform due diligence before engaging with the firm.
The European Commission has initiated a call for evidence on the savings and investments union (SIU), seeking stakeholder input on the progress and challenges of the initiative. The SIU aims to enhance the Capital Markets Union and banking union by improving returns on EU citizens’ savings and expanding financing opportunities for businesses. Feedback will inform a Commission Communication on the SIU, anticipated in early 2025.
Deputy Governor Pham Quang Dung of the State Bank of Vietnam reviewed 2024 monetary policy and set 2025 expectations at Agribank, emphasizing flexible policy, inflation control, and macroeconomic stability. Agribank was urged to follow government directives, support agriculture, and restructure non-performing loans. Agribank reported a 10% asset increase to VND 2.2 quadrillion, highlighting its lending focus and policy credit programmes.
The State Bank of Vietnam's 2025 priorities focus on macroeconomic stability, inflation control, and monetary market stability, supporting growth through monetary and credit policy. Key tasks include reducing lending rates, directing credit to priority sectors like social housing, and addressing non-performing loans. The briefing highlighted a 15.08% credit increase in 2024 and a VND 145 trillion lending programme for housing.
The State Bank of Vietnam's Permanent Deputy Governor Dao Minh Tu visited Vietnam Cooperative Bank (Co-opBank) to set expectations for its 2025 operations. He emphasized the importance of fulfilling the 2025 plan and maintaining safe, effective, and sustainable operations. Co-opBank's leadership reported on 2024 results, highlighting economic challenges but affirming the bank's role as a key linkage hub for the People’s Credit Funds network.
The State Bank of Vietnam's 2025 priorities focus on macroeconomic stability, inflation control, and monetary market stabilization, while reducing lending costs. Key initiatives include directing credit to priority sectors like social housing and strategic transport infrastructure, enhancing digital transformation, and improving the legal framework for businesses. In 2024, the bank maintained policy rates, managed exchange rates flexibly, and increased credit to the economy by 15.08%, supported by a VND 145 trillion facility for housing and sector-specific credit programs.
The State Bank of Vietnam's 2025 priorities focus on flexible monetary policy to support growth, control inflation, and maintain stability. Initiatives include reducing costs to lower lending rates, directing credit to priority sectors, addressing weak banks, and advancing digital transformation. Despite high global rates, policy rates remained unchanged in 2024, with credit growth at 15.08% supported by targeted lending programmes.
The State Bank of Vietnam's 2025 priorities focus on macroeconomic and monetary-market stability, inflation control, and reduced lending rates. Key initiatives include directing credit to priority programmes, addressing weak banks and non-performing loans, and enhancing digital transformation. The bank will manage interest and exchange rates in line with market and inflation trends, while implementing a credit-institution restructuring plan.
The U.S. Senate Committee on Banking, Housing and Urban Affairs announced the STOP MADNESS Act, led by Chairman Tim Scott and Senator Bernie Moreno, to expand presidential authority for imposing sanctions on foreign entities and governments linked to illegal immigration. The bill aims to deny access to the U.S. financial system for non-compliant foreign governments and sanction individuals and entities facilitating unlawful immigration. It authorizes the President to use the International Emergency Economic Powers Act to block assets and mandates a report to Congress on actions taken.
The U.S. House Financial Services Committee, led by Chairman French Hill, endorsed Treasury Secretary Scott Bessent's appointment as Acting Director of the Consumer Financial Protection Bureau (CFPB). Hill criticized former Director Rohit Chopra's regulatory approach and outlined a legislative agenda to reform the CFPB, including bringing it under congressional appropriations and converting it into a bipartisan commission.
Finanstilsynet reviewed Hofseth Biocare ASA’s 2023 annual report, identifying deficiencies in disclosures on financing, liquidity, and cash flows. The authority expects corrections in future reports, considers the matter closed, and requests confirmation of specific remedies in the 2024 accounts. The review highlighted issues with lease liabilities, foreign exchange contracts, shareholder loans, revenue recognition, and joint venture investment descriptions.
Chile’s Financial Market Commission (CMF) is consulting on a new information form to enhance reporting for low-value payment clearinghouses under General Rule No. 489. The form aims to capture data on operational cycles, payment order volumes, and net positions, while monitoring collateral, liquidity, and capital requirements. It also includes fields for experimental projects to aid in supervision and market analysis.
The Chile Financial Market Commission has authorized the bylaws of Tenpo Bank Chile, advancing it to the second stage of establishment under the General Banking Act. This resolution permits the provisional board to operate and appoint key management positions. The final stage, Operating Authorization, will be granted once readiness for operations is demonstrated.
Moldova's National Commission for Financial Markets adopted measures for capital markets authorisations and consumer protection, including registering additional share issues for DACIA-LV and AGAT, and authorising the merger of BC VICTORIABANK SA and BCR CHISINAU SA. A review found breaches by non-bank lender FLEX FINANCIAL SRL, requiring consumer reimbursements and cessation of unfair practices. Investigations revealed VICTORIABANK and others imposed excessive fees, prompting the Commission to seek legal action to void deposit clauses.
The Central Bank of Russia released its January 2025 monitoring results for maximum interest rates on Russian-ruble household deposits at the top 10 credit institutions, showing a decline from 21.72% in early January to 21.47% by the month's end. The rates, calculated as an arithmetic mean, exclude special-category deposits and are based on publicly available data from banks like Sberbank and VTB Bank. Average maximum rates by maturity ranged from 19.53% for over one year to 21.25% for 181 days to one year.
The Bank of Canada announced the University of Ottawa as the winner of the tenth annual Governor’s Challenge, a national student competition simulating advisory roles for the Bank’s Governing Council. The final round, held on February 1, 2025, featured six teams presenting economic outlooks and monetary policy recommendations. The competition involved over 100 students from 26 Canadian universities.
The United States Office of the Comptroller of the Currency (OCC) published Community Reinvestment Act (CRA) performance evaluations for 20 national banks and federal savings associations for January 2025. Three institutions received an "outstanding" rating, two were rated "needs to improve," and 15 received "satisfactory" ratings. The OCC also highlighted its online database of CRA evaluations and upcoming examination schedules.
The National Bank of Moldova's Governor Anca Dragu met with European Mortgage Federation and European Covered Bond Council leaders to discuss Moldova's investment potential and financing mechanisms. The discussions included cooperation with Moldova’s banking sector and aligning regulatory frameworks with European standards. Dragu emphasized economic reforms, banking sector strengthening, and Moldova's accession to the Single Euro Payments Area.
The National Bank of Denmark reported that total card-payment turnover in Denmark rose to DKK 661 billion in 2024, up from DKK 640 billion in 2023. Danish cardholders contributed DKK 616 billion domestically, while foreign cardholders added DKK 45 billion. The bank also noted significant discrepancies between daily and quarterly card-payment statistics from Q2 2020 to Q2 2021, influenced by pandemic-related shifts in consumer behavior.
The Central Bank of Mongolia seeks international bids for a Payment Card Transaction Switching System software package, including installation, testing, data migration, and training. The tender requires bidders to have recent similar project experience and international support capability. Bids must include technical and pricing proposals, corporate information, and warranty documentation, submitted by physical mail with bid security.
The European Systemic Risk Board's report outlines a framework for monitoring systemic liquidity risks, featuring two liquidity dimensions and three composite indicators to identify vulnerabilities. It differentiates between funding and market liquidity and includes a measure for contagion and amplification risk, extending beyond banks and sovereign bond markets to non-bank financial intermediaries and other key markets.
The European Insurance and Occupational Pensions Authority (EIOPA) has initiated a public consultation on revised guidelines for determining the market share of insurance and reinsurance undertakings eligible for limited supervisory reporting under Solvency II. The revisions aim to align with the amended Solvency II framework, clarify roles in the reporting process, and promote exemptions to ensure a level playing field.
The Palestine Monetary Authority reported on Governor Yahya Shunnar's meeting with the Palestinian Insurance Federation to discuss insurance sector developments and efforts to enhance the banking system and financial stability, particularly in Gaza. The meeting, attended by PIF board chair Hamzeh Shrouf and PMA officials, emphasized the insurance sector's role under the Capital Market Authority and PMA's initiatives in electronic payment systems.
The Palestine Monetary Authority (PMA) held a virtual meeting with the International Monetary Fund (IMF) to discuss developments in the Palestinian banking sector, including efforts to restore operations in Gaza and enhance stability. The meeting focused on strengthening cooperation through technical assistance to improve banking efficiency and address future challenges. The IMF acknowledged progress and committed to supporting the PMA's plans in line with international standards.
The Dubai International Financial Centre (DIFC) reported on the 2024 results of the Dubai Future District Fund (DFDF), highlighting alignment with Dubai's D33 economic agenda and digital transformation goals. The DFDF Oversight Committee reviewed 29 investments, emphasizing initiatives like the Dubai Sandboxes Initiative and the Dubai Research, Development, and Innovation Program. The fund aims to integrate venture capital and startups into Dubai's innovation ecosystem, focusing on digital transformation and green technology.
The Central Bank of The Bahamas seeks proposals for a Governance, Risk and Compliance (GRC) and Audit Management Solution to enhance internal functions and replace manual processes. The solution should support up to 40 core and 80 stakeholder users, preferably on-premises, and meet specific security and performance criteria. Proposals will be evaluated on technical, financial, and presentation factors, with phased delivery expected within 16 to 20 weeks.
The Central Bank of the Bahamas reported moderated economic growth in 2024, with increased bank liquidity and external reserves. For 2025, the Bank anticipates slower growth but plans to support stronger private-sector lending, even if it reduces external reserves. Efforts will focus on withdrawing liquidity, easing credit access, and implementing a moveable collateral assets registry.
The Algeria Market Authority held the first meeting of its financial market one stop shop to support Pharma Invest Spa’s planned stock market listing. The mechanism brings together the regulator, market infrastructure providers and advisers to streamline listing procedures. Pharma Invest Spa operates in pharmaceutical distribution and manufacturing and has share capital of DZD 5.5 billion.
MENAFATF and FATF launched a joint assessor training course in Doha, Qatar, to enhance anti-money laundering and counter-terrorism financing capabilities among member jurisdictions, with over 40 trainees from more than 25 countries. Supported by the Cooperation Council for the Arab States of the Gulf and Qatar’s National Anti-Money Laundering and Terrorism Financing Committee, MENAFATF plans ongoing capacity-building initiatives.
The Middle East and North Africa Financial Action Task Force (MENAFATF) and the Financial Action Task Force (FATF) have launched a joint assessor training course in Doha, Qatar, to enhance capacity for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) assessors, involving over 40 trainees from more than 25 member countries.
The Jordan Securities Commission has approved new guidelines to apply legal measures to non-compliant entities under its supervision, consolidating disclosure instructions into a single document. These measures, linked to the severity of breaches and their market impact, apply to all public shareholding companies and may extend to board members responsible for violations.
Saudi Arabia's Insurance Authority and Capital Market Authority signed an agreement to coordinate oversight of listed insurance companies. The cooperation will also support sector development, transparency and disclosure under the Financial Sector Development Program.
The Egypt Financial Regulatory Authority has established a Financial Stability Unit to enhance sustainable development and mitigate systemic risks in the non-banking financial sector. Chairman Mohamed Farid emphasized proactive risk identification, combining regulatory supervision with technology and data analytics, and closing data gaps. The strategy includes transparency through disclosure requirements and collaboration with firms and researchers to address leverage-related vulnerabilities and interconnectedness.
The Securities and Exchange Commission of Pakistan (SECP) reported a record incorporation of 3,442 companies in January 2025, a 39% increase over the previous year's monthly average. Key sectors included Information Technology, ecommerce, trading, and services. SECP attributed this milestone to digital transformation, simplified registration, and a supportive regulatory framework, with plans for ongoing reforms and digitisation.
The European Central Bank and European Commission stress the need for changes to boost EU competitiveness by reducing internal barriers and regulatory frictions. The Competitiveness Compass is a key tool, prioritizing scaling innovative firms, improving investment conditions, and reducing business costs through energy investments. Upcoming proposals include a "28th regime" for a unified legal framework and a Savings and Investments Union to enhance access to risk capital.
The Inter Governmental Action Group against Money Laundering in West Africa has issued an expression of interest for the ECOWAS Gender Development Centre to hire a consultant to build its digital ecosystem. The work covers a multilingual website, CMS, cyber protections, collaborative workspace, ECOGO data integration and AI tools, with delivery planned over three months. Applications close on February 24, 2025 and selection will use qualification-based procurement.
The Inter Governmental Action Group against Money Laundering in West Africa has posted ECOWAS Gender Development Centre expressions of interest for nine full-time consultant roles in Dakar across finance, procurement, IT, programmes, monitoring, HR, administration and front desk support. Each role offers USD 12,000 per year for a one-year renewable term. Applications close on February 24, 2025 at 5:00 p.m. GMT, with a minimum score of 70 out of 100 required for shortlisting.
The Inter-Governmental Action Group against Money Laundering in West Africa is seeking an independent audit firm to conduct annual audits of its African Development Bank-funded AML/CFT capacity-building project for 2024 to 2026. The work will cover project financial statements, internal controls, procurement, special accounts, compliance and physical implementation. Selection will follow the African Development Bank procurement framework, with expressions of interest due by 20 February 2025.
The Inter Governmental Action Group against Money Laundering in West Africa has published its 2025 procurement plan. The plan was released through a press notice with the document attached as a PDF.
The Liechtenstein Financial Market Authority has transitioned its product intervention on binary options and CFDs for non-professional investors to a new legal basis, effective 1 February 2025, while maintaining existing measures. This aligns with the revised Banking Act and financial market law, using a general ruling under Article 25 of the Financial Market Supervision Act. The intervention restricts binary options and conditionally permits CFDs for non-professional investors.
The Bank of England's staff paper examines the growing use of agent-based models (ABMs) by central banks over the past decade. It highlights ABMs as valuable complements to traditional tools, aiding policy responses to financial innovation and climate change. The paper categorizes ABM outputs into applied research, technical advancements, and policy analysis, emphasizing their role in financial stability, monetary policy, and climate risk analysis.
The Federal Reserve Board released research estimating the volume of counterfeit U.S. banknotes in circulation, using data from the Federal Reserve and the United States Secret Service. The study estimates counterfeits at no more than USD 30 million, significantly lower than previous estimates, due to enhanced banknote security and public education. Losses from high-quality counterfeits of commonly used notes are minimal.
The Federal Reserve Board released "Rewiring repo," analyzing the repo market's networked structure and inefficiencies from imperfect competition in dealer funding. The study attributes the September 2019 repo market instability to a supply shock affecting inelastic dealer funding demand, worsened by strategic dealer interactions. It also assesses interventions like the Standing Repo Facility to enhance market efficiency.
Australia's Department of the Treasury responded to a Parliamentary Joint Committee report on competition in clearing and settlement and the ASX CHESS Replacement Project, addressing 12 recommendations. Key measures include ASIC's authority to make rules, the Treasury Laws Amendment Bill 2024, and a focus on interoperability by ASIC and the Reserve Bank. An independent review of competition legislation is planned within three years, alongside considerations for future assessments of clearing and settlement facilities.
The National Bank of Moldova released a reference copy of the Parliament's Law No. 114 on payment services and electronic money, detailing its adoption and enforcement dates. The law, adopted on 18 May 2012 and effective from 14 September 2013, is published in the Official Monitor No. 193-197, Article 661.
Venezuela's Ministry of Economy and Finance marked the 85th anniversary of the Superintendency of the Institutions of the Banking Sector (Sudeban), emphasizing its role in banking stability and growth. Sudeban is expanding payment channels and integrating fintech services, aligning its 2025 programme with the government's "13 Productive Engines" initiative to enhance bank capitalisation, credit access, and technological innovation.
The Angola Capital Markets Commission conducted a financial education session at the Instituto Médio de Administração e Gestão de Luanda, focusing on capital market fundamentals and investment opportunities. The session featured remarks on financial literacy's importance by IMAG’s Pedagogical Director, Inês Nunes, and a presentation by António Van-Dúnem from the Commission. Approximately 50 students attended the event.
The European Securities and Markets Authority (ESMA) released a supervisory briefing to harmonize National Competent Authorities' assessment of authorisation applications from Crypto Asset Service Providers (CASPs) in the EU. It outlines expectations on governance, outsourcing limits, and staff suitability to support supervisory convergence and reduce regulatory arbitrage. ESMA aims to translate MiCA and related regulatory technical standards into practical controls for NCAs and applicants.
The European Securities and Markets Authority (ESMA) has released its quarterly liquidity assessment, identifying 1,342 bonds as liquid under MiFID II transparency requirements. These requirements will be effective from 17 February 2025 to 18 May 2025. The assessment, based on quantitative liquidity criteria, is updated quarterly and published via the Financial Instruments Transparency System.
The Central Bank of Colombia issued External Regulatory Circular DEFI-354, updating its risk control framework for open market and liquidity operations to support the payment system. The circular, part of the Financial Stability Department Manual, applies to various financial entities, including the Financial Superintendency of Colombia and the Colombia Stock Exchange. Changes will be incorporated when the new provisions take effect on 1 August 2025.
The Central Bank of Colombia issued Board of Directors Bulletin 03 of 2025, featuring External Resolution 1. This resolution amends External Resolution No. 1 of 2018.
The Central Bank of Colombia issued External Resolution 3, amending External Resolution No. 5 of 2022, as detailed in its Board of Directors Bulletin 05 of 2025.
The Central Bank of Colombia's Board of Directors issued External Resolution 2, amending External Resolution No. 2 of 2019.
The Central Bank of Colombia issued External Regulatory Circular DOAM-143 regarding its intervention in the foreign exchange market. Certain provisions will take effect on 1 August 2025, following a Board of Directors resolution. The circular is directed to various financial entities, including the Financial Superintendence of Colombia and the Colombia Stock Exchange.
The Central Bank of Cyprus released its Quarterly Financial Accounts for the quarter ending September 2024, detailing aggregated financial assets and liabilities by economic sector. The report includes data on various sectors such as non-financial corporations, monetary financial institutions, and households, and is available in Greek and English.
The Montenegro Capital Market Authority participated in the IOSCO European Regional Committee meeting in Nicosia, Cyprus, on 30 January 2025. Discussions focused on retail investor protection, online investment security, shortening the securities settlement cycle in Europe to T+1, the impact of social media on capital markets, and enhancing financial system resilience.
The Bank of Greece's Economic Bulletin Issue 60 (December 2024) features research on euro area inflation dynamics, foreign direct investment (FDI) statistics, and Greece’s potential output estimation. Key findings include the impact of real wage rigidity on inflation and employment, the role of profits in post-2021 inflation, and the methodology for FDI data aligned with OECD standards. The bulletin projects Greece's potential output growth at 1.9%, driven by total factor productivity and capital, with demographic factors posing challenges.
France's Financial Markets Authority (AMF) approved Île-de-France Mobilités' prospectus to admit European green bonds (EuGB) to trading on Euronext Paris, marking France's first EuGB-format admission prospectus. The issuance complies with new EU rules requiring proceeds for sustainable activities with enhanced transparency. The AMF published guidance on issuer obligations under the new framework and will support issuers in implementing the standard.
The Danish Financial Supervisory Authority reported that ELEMENT Insurance AG, a German insurer authorized to operate in Denmark, is under preliminary insolvency administration as of 8 January 2025. A temporary insolvency administrator has been appointed, but no bankruptcy proceedings have been initiated. The authority directs inquiries to the German Federal Financial Supervisory Authority (BaFin) for further details.
The Central Bank of Cyprus has set the reference rate at 11.50% under Article 314A of the Penal Code Law, Cap. 154, to determine when loan-related charges may constitute a criminal offence. Exceeding this rate in loan transactions can lead to penalties including imprisonment up to five years or fines up to EUR 30,000.
The Belgium Financial Services and Markets Authority (FSMA) warned about unauthorized lenders offering fake credit online, identifying 18 fraudulent firms. These scams involve "cloned firm" fraud, where fraudsters misuse legitimate credit institutions' identities, offering attractive terms but demanding upfront payments. The FSMA advises consumers to verify lender authorization and be cautious of unsolicited offers and unrealistic credit conditions.
The Rwanda Capital Markets Authority published a case study on Mahwi Grain Millers Plc, highlighting its successful capital market financing for expansion. Mahwi raised FRW 3.3 billion through a note programme, supporting operational growth and export market entry. The initiative aligns with the Second National Strategy for Transformation and SME funding goals.
The Mauritius Financial Services Commission has suspended the Investment Dealer (Broker) Licence of Adamas Capital under section 27(3) of the Financial Services Act. The firm must halt its licensed activities but remains subject to licensee obligations and FSC directions until the suspension is lifted.
De Nederlandsche Bank published a speech by Klaas Knot reflecting on his nearly 14 years in the ECB’s Governing Council, emphasizing robust policy design under uncertainty. Knot discussed the euro area sovereign debt crisis, low-inflation period, and post-pandemic inflation surge, highlighting the European Stability Mechanism and ECB’s Outright Monetary Transactions programme. He advocated cautious use of unconventional tools like quantitative easing and forward guidance, stressing proportionality and cost-benefit assessment, while noting challenges in euro area fiscal coordination.
The Dutch Authority for the Financial Markets and De Nederlandsche Bank released a guide to help institutions comply with the revised European Market Infrastructure Regulation (EMIR 3). Key requirements include maintaining an active account at an EU central counterparty for certain interest rate derivatives and notifying the European Securities and Markets Authority and relevant Dutch supervisors. The guide also covers initial margin model approvals, reporting for non-EU clearing, and disclosure obligations for trading platforms.
The Superintendence of Banks of Ecuador hosted a protocol visit from Asobanca's board to congratulate new Superintendent Roberto Romero von Buchwald and reaffirm industry-supervisor coordination. The meeting emphasized collaboration to enhance oversight, transparency, and stability in Ecuador's banking system, with a focus on financial education and inclusion.
The Algeria Market Authority took part in a children’s financial education workshop at the Algeria Fintech and E-commerce Summit, covering basic money management, saving and safe banking transactions.