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2025-01-15•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is monitoring the impact of the California wildfires on investors and capital markets, considering relief from filing deadlines and regulatory requirements for affected entities. Coordination will occur across SEC divisions overseeing various market participants. The SEC also warned of increased wildfire-related investment fraud risks and urged vigilance and reporting of suspicious activities.
SupervisionAlertsClimate risk and sustainable finance
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2025-01-15•China•China Banking and Insurance Regulatory Commission
The China Banking and Insurance Regulatory Commission's Financial Consumer Rights Complaint Mediation Center and the Financial Consumer Protection Bureau conducted system-wide training on mediating financial consumer complaints. The new Mediation Center supports the regulator's consumer protection mandate, handling complaints, dispute mediation, and financial consumer education. It aims to expand public-interest services and enhance protection of financial consumers' rights.
Institutional developmentCooperation & capacity buildingCapacity building
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2025-01-15•Moldova•National Bank of Moldova
Governor Anca Dragu of the National Bank of Moldova emphasized the link between diversity, gender equality, and financial stability at a forum in Vienna. She noted that women make up 64% of the bank's workforce and 53% of management, highlighting the bank's leadership in promoting inclusive frameworks. Dragu also referenced the OMFIF 2024 Gender Balance Index, which shows a slight increase in women in central bank leadership roles globally.
Institutional developmentWorkforce & recruitmentDiversity and inclusion
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2025-01-15•Moldova•National Bank of Moldova
At the Central and Eastern Europe Forum in Vienna, National Bank of Moldova Governor Anca Dragu stressed the need to adapt monetary policy to reduce inflationary pressures and highlighted the central bank's role in financial stability and risk prevention. She emphasized the importance of macroprudential and resolution mandates and introduced a Sustainable Finance Roadmap to guide domestic financial sector entities.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
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2025-01-15•Europe•European Central Bank
The European Central Bank's Macroprudential Bulletin introduces a framework for measuring synthetic leverage in interest rate swaps to improve risk identification in non-bank financial intermediation. It critiques traditional notional-based metrics, proposing a duration-sensitive approach for better scenario analysis and linking derivatives-driven leverage to liquidity and solvency risks. Tested with euro area non-bank entities, the framework shows leverage paths can vary significantly with swap duration under interest rate shocks.
ResearchPrudential risksMacroprudential policy and tools
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2025-01-15•India•Securities & Exchange Board of India
The Securities and Exchange Board of India, in collaboration with the National Institute of Securities Markets, has launched an eLearning course on municipal bonds for officials of Municipal Corporations and Urban Local Bodies. The course covers funding mechanisms, regulatory provisions, and key market roles, and is available free until 31 March 2025.
Financial literacy & educationMarket development
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2025-01-15•South Korea•Bank of Korea
The Bank of Korea released preliminary data for December 2024, indicating a 2.4% monthly increase in both export and import prices in KRW terms. Annually, the Export Price Index rose by 10.7% and the Import Price Index by 7.0%. The Net Barter Terms of Trade Index improved by 4.8% year on year.
Data & statisticsEconomic data and developments
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2025-01-15•Cayman Islands•Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority clarified annual fee payment deadlines and penalties following fee changes published in December 2024. Firms must pay the 2024 annual fee by 15 January, with penalties starting 16 January for any outstanding amounts. Payment of the 2025 fee change is extended to 17 February, with penalties commencing 18 February for any unpaid differences.
Policy & regulationGuidance & interpretationLicensing and supervisory fees
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2025-01-15•Cayman Islands•Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority and the General Registry have revised government fees for certain services effective 1 January 2025, introducing new fees and adjusting existing charges. These changes, the first in over a decade for some fees, were developed in consultation with industry stakeholders and approved by Parliament, affecting sectors including banking, insurance, and securities.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-01-15•Isle of Man•The Treasury (Isle of Man)
The Isle of Man Treasury corrected the UK sanctions list entry for GAZPROM NEFT under the Russia sanctions regime, maintaining its asset freeze and trust services sanctions. Following the Foreign, Commonwealth and Development Office's update, the primary name is now "PUBLIC JOINT STOCK COMPANY GAZPROM NEFT" without altering its designation. The notice emphasizes freezing assets and reporting suspected breaches to the Financial Intelligence Unit.
Policy & regulationRules & requirementsSanctions list update
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2025-01-15•Europe•European Insurance and Occupational Pensions Authority
EIOPA warns NOVIS policyholders of potential consumer detriment due to stalled liquidation by Slovakia’s Národná banka Slovenska. NOVIS's authorization was withdrawn in June 2023, limiting operations to existing contracts. EIOPA advises policyholders to reassess options, consider ceasing premium payments or surrendering contracts, and consult national supervisory authorities.
SupervisionAlertsLicence withdrawal
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2025-01-15•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority's 2024 Consumer Trends Report highlights widening pensions gaps and low participation in supplementary pensions, with only 42% of EU consumers confident in their retirement finances. The report underscores uneven consumer outcomes from digital channels and ongoing value for money concerns in insurance-based investments, particularly unit-linked and hybrid products. It also notes increased interest in sustainable products and rising cross-border insurance sales, amid challenges like greenwashing and digital exclusion.
ResearchConsumer and investor protectionArtificial intelligence
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2025-01-15•United States•U.S. Department of the Treasury
The U.S. Department of the Treasury announced new sanctions targeting Russia-related evasion, designating entities linked to a Russia–China clearing platform and Kyrgyz Republic-based OJSC Keremet Bank. The U.S. Department of State is sanctioning over 150 entities and individuals under Executive Order 14024, including Russian and Chinese entities, Russian national Andrei Valeryevich Prikhodko, and U.S.-designated Russian banks, with increased exposure to secondary sanctions for foreign entities facilitating significant transactions.
EnforcementSanctions & designationsSanctions list update
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2025-01-15•Bahamas•Central Bank of the Bahamas
The Central Bank of the Bahamas released its Bahamas Registered Stock secondary market price schedule for January 2025, detailing bid and ask prices, yields, and ISIN-level specifics for fixed-rate and floating-rate issues. Floating-rate securities feature six-month coupon resets at the prevailing market rate, with yields ranging from 2.93% to 6.65% for maturities between January 2025 and October 2054.
Monetary policyMonetary policy instruments & operationsFinancial and market indicators
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2025-01-15•Caribbean•East Caribbean Securities Regulatory Commission
The East Caribbean Securities Regulatory Commission published a final report on its 2024 stakeholder consultations regarding the development of the Eastern Caribbean securities market.
Policy & regulationReform agendas & prioritiesMarket development
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2025-01-14•Nicaragua•Central Bank of Nicaragua
The Central Bank of Nicaragua reported its 2024 international reserves at USD 6,105.1 million, marking a USD 658.1 million increase over the year. This growth was attributed to foreign exchange operations, external resources of the non-financial public sector, and financial income from overseas investments. The Bank anticipates continued reserve growth in 2025 to support the exchange rate regime and buffer against external and internal events.
Data & statisticsBalance of payments and other external statistics
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2025-01-14•Saudi Arabia•Saudi Arabia Capital Markets Authority
The Saudi Arabia Capital Markets Authority approved Arabian Plastic Industrial Company's request to increase its capital from SAR 50 million to SAR 75 million by issuing one bonus share for every two existing shares, funded by transferring SAR 25 million from retained earnings. An extraordinary general assembly must be held within six months, and the company must comply with all regulatory requirements.
SupervisionAuthorisations & approvalsSecurities offerings and listings
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2025-01-14•Global•Financial Markets Standards Board
The Financial Markets Standards Board published its 2025 workplan, outlining ongoing projects and potential topics to develop practical standards for wholesale financial markets, with a focus on reducing market uncertainty and aligning international standards. The workplan includes finalizing a Standard on Sharing Standard Settlement Instructions and concluding work on Carbon Markets and Grey Market Trading.
Policy & regulationImplementation, projects & pilotsMarket development
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2025-01-14•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released updated aggregate data for the Cypriot banking sector, detailing profitability, balance sheet, and capital adequacy metrics as of 30 September 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-14•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus released updated aggregate data on non-performing loans in the Cypriot banking sector as of 30 September 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-14•France•France Autorite des marches financiers
The French Financial Markets Authority (AMF) and the Prudential Supervision and Resolution Authority (ACPR) have alerted about unauthorised entities offering Forex and crypto-asset derivative products in France, updating their blacklists. Since early 2024, 51 Forex and 50 crypto-asset derivative sites have been added. The authorities emphasize that the blacklists are frequently updated but not exhaustive, advising investors to consult official registers for verification.
SupervisionAlertsUnlicensed or unauthorized activity
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2025-01-14•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released its seventh market report, noting a general decline in costs for EU retail investment products, though EU fund costs remain high compared to international standards due to market fragmentation. The report highlights improved performance for UCITS and Alternative Investment Funds in 2023, with retail ESG UCITS outperforming non-ESG equivalents. ESMA is tasked with producing a detailed report on UCITS and AIF costs, supported by a data collection exercise, to enhance the 2025 market report.
Research
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2025-01-14•France•France Autorite des marches financiers
France's Financial Markets Authority (AMF) released its 2024 Savings and Investment Barometer, highlighting evolving investment preferences in France, particularly in equities. The survey of 2,044 individuals indicates strong equity investment intentions, especially among younger respondents.
ResearchConsumer and investor protection
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2025-01-14•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market clarified the sanctions process against Freedom Finance Ukraine LLC, following a Presidential Decree. An interim head audited and listed clients and assets, verifying connections to sanctioned persons or the aggressor country. The NSSMC will publish a decision detailing procedures for stakeholders and clients once verification is complete.
Policy & regulationImplementation, projects & pilotsSanctions list update
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2025-01-14•Europe•Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL)
MONEYVAL's follow-up report on Slovakia highlights steps taken to enhance its anti-money laundering and counter-terrorist financing framework, yet notes persistent shortcomings. Slovakia remains Partially Compliant with FATF Recommendations 8, 15, and 19, and is under enhanced follow-up. It must report progress within a year and update on Recommendation 10 compliance by June 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFT
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2025-01-14•Algeria•Algeria Market Authority (COSOB)
The Algeria Market Authority oversaw the official listing of Moustachir, making it the first startup to join the Algiers Stock Exchange and enter the growth segment of the equity market.
Policy & regulationImplementation, projects & pilotsSecurities offerings and listings
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2025-01-14•China•Central Bank of the Republic of China
At the Asian Financial Forum in Hong Kong, People's Bank of China Governor Pan Gongsheng held separate meetings with Bank of Finland Governor Rehn and Luxembourg Finance Minister Roth. Discussions focused on economic and financial conditions and financial cooperation.
Policy & regulationCooperationCross-border cooperation
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2025-01-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China reported a decrease in total new social financing to the real economy for 2024, amounting to CNY 32.26 trillion, down CNY 3.32 trillion from the previous year. RMB loans to the real economy increased by CNY 17.05 trillion, while net government bond financing rose to CNY 11.3 trillion. From January 2023, the bank expanded statistical coverage to include consumer finance companies, wealth management companies, and financial asset investment companies.
Data & statisticsMonetary data
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2025-01-14•China•Central Bank of the Republic of China
The People's Bank of China reported preliminary year-end 2024 statistics showing total social financing at CNY 408.34 trillion, an 8% increase year-on-year. RMB loans to the real economy were CNY 252.53 trillion, representing 61.8% of the total, while government bonds saw a 16.2% rise to CNY 81.09 trillion. The PBoC expanded statistical coverage from January 2023 to include consumer finance, wealth management, and financial asset investment firms.
Data & statisticsMonetary data
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2025-01-14•China•Central Bank of the Republic of China
The Central Bank of the Republic of China released December monetary and financial statistics, highlighting a 7.3% year-on-year growth in broad money (M2) to RMB 313.53 trillion and a 6.4% increase in total deposits to RMB 308.38 trillion. RMB lending rose by RMB 18.09 trillion over 2024, while foreign currency loans decreased by 17.4% to USD 542.2 billion. The report also covered interbank money market rates, foreign exchange reserves at USD 3.2 trillion, and cross-border RMB settlements.
Data & statisticsMonetary data
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2025-01-14•United States•National Credit Union Administration
The California Department of Financial Protection and Innovation, FDIC, Federal Reserve Board, National Credit Union Administration, and Office of the Comptroller of the Currency issued guidance to assist institutions impacted by California wildfires and winds. It supports prudent loan adjustments, expedited temporary facility requests, and leniency on reporting penalties. Eligible disaster-related community development activities may receive Community Reinvestment Act consideration.
Policy & regulationGuidance & interpretation
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2025-01-14•Germany•Ministry of Finance (Germany)
Germany's Federal Ministry of Finance announced that BaFin will launch a free comparison website for retail current accounts on 15 January. The portal will cover nearly 6,900 account models from around 1,100 providers, allowing users to filter and compare accounts using 27 criteria. Data collection is based on the EU Payment Accounts Directive and Germany’s Payment Accounts Act, with providers responsible for accuracy.
Policy & regulationImplementation, projects & pilotsConsumer and investor protection
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2025-01-14•Bermuda•Ministry of Finance (Bermuda)
Bermuda's Ministry of Finance updated on the Financial Policy Council's 27th meeting, highlighting macroeconomic performance and financial stability risks. Discussions included Corporate Income Tax implementation, life insurance and reinsurance sector developments, and banking regulatory planning. The Council also addressed international tax developments, workforce retention initiatives, and anti-money laundering measures for the Caribbean Financial Action Task Force assessment.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskAML and CFT
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2025-01-14•Luxembourg•Luxembourg Commission de Surveillance du Secteur Financier
The Luxembourg Commission de Surveillance du Secteur Financier now mandates the annual electronic submission of the PDAOFI self-assessment questionnaire for professional depositaries of assets other than financial instruments, replacing the "list of information on the depositary function" under CSSF Circular 18/697. This applies to Luxembourg-domiciled undertakings for collective investment.
SupervisionRegulatory reporting
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2025-01-14•Bermuda•Bermuda Monetary Authority
The Bermuda Monetary Authority released a consultation paper on an operational resilience framework for BMA-supervised entities, emphasizing integration into daily operations and risk management. The framework aims to enhance firms' capabilities to handle operational disruptions, ensuring uninterrupted customer services.
Policy & regulationRules & requirementsOperational risk and resilience
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2025-01-14•United States•Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) has sued Capital One, N.A. and Capital One Financial Corp. for allegedly deceptive practices with its "360 Savings" account. The CFPB claims Capital One misled consumers by promoting it as high-interest while offering "360 Performance Savings" with higher rates. The lawsuit seeks to stop the misconduct, secure consumer redress, and impose penalties for violating the Truth in Savings Act and the Consumer Financial Protection Act.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
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2025-01-14•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has amended anti-money laundering and counter-terrorist financing controls for banks, focusing on automating detection of suspicious transactions related to illegal drugs and digital assets. The changes also limit payment card validity for non-residents to 12 months and restrict the number of cards per client.
Policy & regulationRules & requirementsAML and CFT
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2025-01-14•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan has adopted Board Resolution No. 89, amending regulations on anti-money laundering and counter-terrorist financing. The resolution mandates verification of customers' beneficial owners against the register of beneficial owners of legal entities, or other sources if not available.
Policy & regulationRules & requirementsAML and CFTBeneficial ownership
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2025-01-14•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency introduced a voluntary credit self-exclusion measure to combat fraud. Through the "Stop Credit" service on egov.kz and the E-gov app, individuals can prevent loans in their name. Over 920,000 citizens have used this service, adding a marker to their credit history to block credit issuance by compliant organizations.
Policy & regulationImplementation, projects & pilotsLending
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2025-01-14•United States•Federal Housing Finance Agency
The Federal Housing Finance Agency issued a final rule to enhance liquidity access for the Federal Home Loan Bank System by revising the treatment of certain short-term investments and unsecured credit exposures. The rule reclassifies deposits in interest-bearing deposit accounts to a more flexible credit limit and clarifies unsecured credit limit determinations and exceptions for specific account amounts.
Policy & regulationRules & requirementsLiquidity risk
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2025-01-14•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong summarized Chief Executive John Lee's meetings at the 18th Asia Financial Forum, highlighting Hong Kong's role as a global financing and sustainable finance hub. Discussions with foreign officials and AIIB President Jin Liqun focused on promoting Hong Kong as a platform for sustainable development funding and RMB bond issuance. The forum, themed “Powering the Next Growth Engine,” included speeches and policy dialogues with international participants.
Policy & regulationCooperationOther
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2025-01-14•Hong Kong•Financial Services and the Treasury Bureau (Hong Kong)
The Financial Services and the Treasury Bureau of Hong Kong announced Mr. Benjamin Hung Pi-cheng as Chairman of the Financial Services Development Council Board, effective 17 January 2025 for a two-year term. The Chief Executive also reappointed the incumbent Vice-Chairmen and appointed four new board members, while reappointing four existing members. The Bureau acknowledged the outgoing Chairman, Mr. Laurence Li Lu-jen, SC, and several outgoing board members.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-14•Cyprus•Cyprus Securities and Exchange Commission
Delfi Corporate Services Ltd has waived its authorisation to provide administrative services, leading to the lapse of its Cyprus Securities and Exchange Commission (CySEC) authorisation. Effective 12 November 2024, CySEC permanently removed the firm from the licensed persons’ register.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-01-14•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced the dissolution and voluntary liquidation of EOS Multi-Strategy Fund AIFLNP V.C.I.C. LTD following the total redemption of its units. The fund, licensed under LPAIF90/2014, was dissolved under Article 132(1)(d) of the Alternative Investment Funds Law of 2018.
SupervisionAuthorisations & approvalsLicence withdrawal
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2025-01-14•India•Reserve Bank of India
The Reserve Bank of India amended its Foreign Exchange Management rules, updating payment and remittance procedures for non-debt instruments, including equity instruments and investments in limited liability partnerships. Key changes involve rupee vostro accounts in banking channels and specific conditions for equity instrument issuance and refunds. The amendments also address payment routes for Foreign Portfolio Investors and Foreign Venture Capital Investors, and procedures for Indian start-ups issuing convertible notes to non-residents.
Policy & regulationRules & requirementsCross-border payments
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2025-01-14•India•Reserve Bank of India
The Reserve Bank of India amended the Foreign Exchange Management (Deposit) Regulations, 2016, allowing fund transfers between repatriable Rupee accounts for bona fide transactions and updating the framework for Special Non-Resident Rupee (SNRR) accounts. Key changes include permitting SNRR accounts for business interests in India and aligning account tenure with contract or business duration. The amendments are effective upon publication in the Official Gazette.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-01-14•India•Reserve Bank of India
The Reserve Bank of India issued the Fifth Amendment to its Foreign Exchange Management Regulations, permitting Indian exporters to maintain foreign currency accounts abroad for export value realisation and advance remittances. Funds can be used for imports or repatriated by the following month, subject to existing realisation and repatriation rules. The amendment is effective upon publication in the Official Gazette.
Policy & regulationRules & requirementsForeign exchange policy and markets
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2025-01-14•Belgium•National Bank of Belgium
Research by the National Bank of Belgium, KU Leuven, and the University of Antwerp finds energy efficiency increasingly influences house prices in Flanders and Wallonia. The Flemish energy renovation obligation has a limited negative impact on prices of energy-inefficient homes. The study notes clustering of energy scores below label thresholds and highlights distributional effects, including potential barriers to home ownership due to renovation costs.
ResearchOther
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2025-01-14•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority has updated its Supervisory Methodology Framework, renaming the 'Medium Low' risk category to 'Medium'. The risk assessment scale now includes Low, Medium, Medium High, and High, aligning terminology with international financial regulators. Descriptions of inherent and residual risk remain unchanged.
SupervisionSupervision approach, priorities & toolkitSupervision process and methodologies
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen linked to the Bank of East Asia. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) issued an alert regarding a fraudulent website and internet banking login screen linked to Chong Hing Bank 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. Affected individuals should contact the bank and report to the Police.
SupervisionAlertsFraud and scams
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website and internet banking login screen linked to China Construction Bank (Asia) Corporation Limited. The HKMA reminded customers that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Customers who interacted with the fraudulent site should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) alerted about a fraudulent website linked to Bank Julius Baer & Co. Ltd. The HKMA stressed that banks won't send SMS or emails with embedded hyperlinks for transactions or request sensitive information through these channels. Individuals who shared personal information or conducted transactions via the fraudulent site should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) reported a decrease in the Exchange Fund's foreign assets by HKD 28.1 billion to HKD 3,478.3 billion as of December 2024, under the IMF's Special Data Dissemination Standard. The Monetary Base was HKD 1,957.6 billion, with claims on the private sector at HKD 305.7 billion and foreign liabilities at HKD 24.3 billion. The HKMA also announced its January 2025 schedule for Exchange Fund data releases.
Data & statisticsMonetary data
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued an alert regarding fraudulent websites and internet banking login screens associated with DBS Bank (Hong Kong) Limited. The HKMA emphasized that banks will not send SMS or emails with links for transactions or request sensitive information via phone, email, or SMS. Individuals who interacted with these fraudulent sites should contact DBS and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-14•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert following Shanghai Commercial Bank Limited's report of a fraudulent website and internet banking login screen. The HKMA reminded the public that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information by phone, email, or SMS. Affected individuals should contact the bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
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2025-01-14•Europe•European Central Bank
The European Central Bank released a speech by Executive Board member Philip R. Lane outlining the euro area outlook, based on December 2024 Eurosystem staff projections. Key forecasts include HICP inflation at 2.4% in 2024, decreasing to 2.1% by 2027, and real GDP growth rising from 0.7% in 2024 to 1.3% in 2027. The speech also addressed money and credit developments, bank funding costs, lending standards, and inflation expectations.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-01-14•United States•Federal Reserve Bank of Cleveland
The Federal Reserve Bank of Cleveland appointed Brian Richardson as senior vice president and chief human resources officer, effective 13 January 2025. Richardson, formerly with Covia and The Sherwin-Williams Company, will lead efforts to attract, engage, and retain employees across the Fourth Federal Reserve District.
Institutional developmentLeadership change & appointmentsHiring and recruitment
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2025-01-14•Qatar•Qatar Central Bank
H.E. Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of the Qatar Central Bank, met with Sir Graham Boyce, Chairman of the International Advisory Board of Foresight Environmental Infrastructure, to discuss key global financial and investment developments.
Other
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2025-01-14•Jordan•Central Bank of Jordan
The Central Bank of Jordan signed a memorandum of understanding with Al al-Bayt University to enhance cooperation on scientific research and student training, focusing on financial awareness and adapting to evolving banking models and financial technology. The agreement aims to coordinate efforts on joint research projects and support financial literacy in response to digital developments and financial fraud prevention.
Policy & regulationCooperationCapacity buildingFinancial literacy and education
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2025-01-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has instructed individuals listed in an annex to pay a VND 1,000,000 fee for the reissuance of a securities practising certificate, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission. Failure to complete the reissuance procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-01-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission requires individuals listed in a notice to pay a VND 1,000,000 fee for re-issuance of securities practice certificates. Fees can be paid via bank transfer to designated accounts or directly at the Commission. Certificates may be canceled if not collected within one year of the fee payment notice, in accordance with Ministry of Finance Circular 25/2022/TT-BTC.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-01-14•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has notified individuals to pay a statutory fee of VND 1,000,000 for the re-issuance of securities practice certificates, as per Ministry of Finance Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly at the Commission's offices. Failure to complete the procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
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2025-01-14•Dominican Republic•Superintencencia de Bancos de la Republica Dominicana
The Superintendency of Banks of the Dominican Republic reported that the financial system remained stable and solvent at the end of 2024, with total assets increasing by 10.6% to RD$3.87 trillion. Credit expanded by 12.2% to RD$2.18 trillion, while public deposits rose 11.4% to RD$2.9 trillion. Despite a decline in liquid assets and profitability ratios, the non-performing loan ratio was 1.6%, with provisions coverage at 175%.
SupervisionRisk monitoring & watch pointsAsset qualityPrudential risks
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2025-01-14•United States•New York State Department of Financial Services
The New York State Department of Financial Services outlined Governor Kathy Hochul’s 2025 consumer protection proposals, focusing on overdraft and non-sufficient funds fee practices and a licensing framework for "Buy Now, Pay Later" providers. Proposed regulations include capping overdraft charges, enhancing fee transparency, and introducing standards for disclosures and data privacy. Additional measures target elder financial exploitation and require new legislation for oversight of "Buy Now, Pay Later" loans.
Policy & regulationRules & requirementsConsumer and investor protectionOther
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2025-01-14•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) has issued a market alert ordering Ukuchuma Financial Services (PTY) LTD and IGM Forex LTD to cease public offerings of securities intermediation services in Brazil. The firms, operating under the XPROMarkets brand, are not authorized to intermediate securities or raise funds from Brazilian investors. The suspension was enacted through Declaratory Act CVM 22,915.
SupervisionInterventionsUnlicensed or unauthorized activity
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2025-01-14•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay said the Executive Branch has appointed Rodrigo Sebastián Ruiz Morel as Superintendent of Securities from a shortlist submitted by the central bank’s board. Ruiz Morel previously led regulation and registries at the Superintendency of Securities and has spent 14 years at the central bank in banking supervision and regulatory roles.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
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2025-01-14•Paraguay•Central Bank of Paraguay
The Central Bank of Paraguay’s Securities Superintendency has made a competency exam mandatory for applicants seeking registration as securities advisers. Candidates must first submit their application through the HRA electronic platform. Exams are scheduled every two months from February to December, with the first sitting on 3 February 2025.
Policy & regulationRules & requirementsLicence approval
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2025-01-14•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia participated in a virtual meeting chaired by the Ministry of Economy and Finance to review a draft Prakas for a code of conduct for valuers and real estate agents. The meeting included representatives from the Real Estate Business and Pawnshop Regulator and other FSA regulators.
Policy & regulationRules & requirementsOther
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2025-01-14•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Russia sanctions notice designating PJSC SURGUTNEFTEGAS and GAZPROM NEFT under the UK's Russia (Sanctions) (EU Exit) Regulations 2019. Firms must freeze any related funds or assets and report findings to the States of Guernsey Policy & Resources Committee. The notice prohibits making funds available to designated parties unless a permitted derogation or licence is in place, requiring firms to notify the Commission and submit a detailed report on affected relationships.
Policy & regulationGuidance & interpretationNew sanctions designations
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2025-01-14•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission issued a Venezuela sanctions notice designating 16 individuals under the Venezuela (Sanctions) (EU Exit) Regulations 2019, subjecting them to an asset freeze in the Bailiwick of Guernsey. Businesses must verify relationships with these individuals, freeze related assets, and report findings to the States of Guernsey Policy & Resources Committee. Firms must also notify the Commission and provide a report under Handbook Rule 12.37 after statutory reporting.
Policy & regulationRules & requirementsNew sanctions designations
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2025-01-14•Canada•Financial Services Regulatory Authority of Ontario
The Financial Services Regulatory Authority of Ontario imposed CAD 20,000 in penalties on Patricia Porretta for unlicensed mortgage dealing and providing false information. The penalties relate to breaches of the Mortgage Brokerages, Lenders and Administrators Act, 2006. Porretta's request for a hearing was dismissed by the Financial Services Tribunal due to non-compliance with its schedule.
EnforcementInvestigations & enforcement actionsFraud and scams
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2025-01-14•Thailand•Thailand Securities & Exchange Commission
The Thailand Securities and Exchange Commission issued an investor notice urging bondholders of six Richy Place 2002 Public Company Limited bond series to review information and exercise their rights at an upcoming e-meeting. Proposals include revising repayment terms, extending maturity by two years, and adjusting interest rates. The SEC mandates a clear analysis from bondholder representatives on the implications of these proposals.
Policy & regulationGuidance & interpretationCorporate governance
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2025-01-14•Vietnam•State Bank of Vietnam
The State Bank of Vietnam branches in Hai Duong and Dak Lak reviewed 2024 banking activities and outlined 2025 work programmes, noting increased deposits and credit with low non-performing loan ratios. In Hai Duong, mobilised funds rose to VND 213.165 trillion and credit to VND 152.383 trillion, while Dak Lak saw funds reach VND 96.537 trillion and loans VND 168.595 trillion. Provincial leaders emphasized continued credit support for priority sectors and digital transformation, commending contributions to social policy credit.
SupervisionRisk monitoring & watch pointsOther
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2025-01-14•Global•Global Legal Entity Identifier Foundation
The Global Legal Entity Identifier Foundation and the United Kingdom's Companies House have initiated embedding direct URLs in Legal Entity Identifier records for UK companies to streamline due diligence processes and enhance global discoverability, especially for SMEs.
Policy & regulationImplementation, projects & pilotsOther
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2025-01-14•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial & Consumer Services Commission has issued a Notice and Request for Comments on proposed Local Rule 81-512, concerning the rescission of mutual fund security purchases. The document is available on the Securities Division Regulatory Instruments section of its website.
Policy & regulationRules & requirementsSecurities offerings and listings
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2025-01-14•United States•U.S. Financial Services Committee
The U.S. House Financial Services Committee has established a Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force for the 119th Congress, chaired by Rep. Frank Lucas. It will hold hearings on monetary policy, review the Federal Reserve's role, and assess fiscal and monetary policies' impact on U.S. Treasury debt markets. Members include Reps. Bill Huizenga, Andy Barr, Marlin Stutzman, Scott Fitzgerald, Mike Flood, Monica De La Cruz, and Troy Downing.
Policy & regulationReform agendas & priorities
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2025-01-14•United States•U.S. Financial Services Committee
U.S. House Financial Services Committee Chairman French Hill announced subcommittee leadership and Republican member assignments for the 119th Congress, covering capital markets, financial institutions, and digital assets. Key appointments include Ann Wagner as Chair of Capital Markets and Andy Barr as Chair of Financial Institutions. The Committee's priorities include regulatory framework development, consumer and investor protection, and agency accountability.
Institutional developmentLeadership change & appointmentsFintech and insurtechArtificial intelligence
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2025-01-14•Iceland•Central Bank of Iceland
The Central Bank of Iceland released its Monetary Policy Committee report to Parliament, detailing activities from July to December 2024, including three regular meetings, with the latest on 20 November 2024. The report, mandated biannually under the Act on the Central Bank of Iceland, is reviewed by a parliamentary committee.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-01-14•Finland•Finanssivalvonta
Finland's Financial Supervisory Authority reported excellent motor liability insurance profitability in 2023, with EUR 754 million in premiums and a EUR 377 million profit, the highest in five years. This was driven by a positive underwriting result of EUR 198 million and an investment result of EUR 179 million, though adjusted underwriting results declined due to increased claims and expenses. Market concentration remained high, with the top four companies holding nearly 90% of premiums.
Data & statisticsFinancial and market indicatorsSupervisory data
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2025-01-14•United States•Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation published a speech by Chairman Martin J. Gruenberg, reviewing historical banking crises and identifying recurring stress drivers like interest rate risk, uninsured funding, and regulatory shortcomings. Gruenberg linked these crises to policy choices and reforms, highlighting deregulatory measures and inadequate supervision. He noted recent failures like SVB and Signature were partly due to high uninsured deposits and post-2018 regulatory rollbacks, with subsequent measures including a resolution planning rule and proposals for minimum long-term debt requirements.
Policy & regulationReform agendas & prioritiesFinancial stability and systemic riskPrudential risks
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2025-01-14•Iceland•Central Bank of Iceland
The Central Bank of Iceland's Monetary Policy Committee has submitted its biannual report to Parliament, detailing its activities from July to December 2024, including three regular meetings, the last of which occurred on 20 November 2024.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
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2025-01-14•Chile•Chile Financial Market Commission
The Chile Financial Market Commission (CMF) will publish the certificate for the Conventional Current and Maximum Interest Rates in the Official Gazette on 15 January. As mandated by Law No. 18.010, this information is also available on the CMF's website to ensure transparency and timeliness.
Policy & regulationImplementation, projects & pilotsFinancial and market indicators
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2025-01-14•Chile•Chile Financial Market Commission
Chile's Financial Market Commission (CMF) filed charges with the Public Prosecutor's Office against individuals for disclosing confidential information from the CMF Investigation Unit's sanctioning procedure concerning the Structured Capital I investment fund. The CMF emphasized that such disclosures are criminal offenses under the CMF Act, punishable by fines and imprisonment. This is the third complaint related to the same procedure, with previous filings in October and December 2024.
EnforcementInvestigations & enforcement actionsOther
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2025-01-14•United States•Federal Reserve Board
The Federal Reserve Board's FEDS Note analyzes the U.S. manufacturing construction boom, noting a surge in planning before construction starts. Using Dodge Data & Analytics microdata, it shows planning peaked around the CHIPS and Science Act and Inflation Reduction Act enactments, with many projects still in planning amid volatility. The note highlights uncertainty about older plans and suggests monitoring planning activity as a leading indicator of nonresidential structures investment.
ResearchMarket development
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2025-01-14•United States•Commodity Futures Trading Commission
The Commodity Futures Trading Commission (CFTC) has initiated a review of two sports contracts self-certified by the North American Derivatives Exchange, Inc. (Nadex), operating as Crypto.com. The contracts, which are cash-settled and binary, may involve activities under CFTC Regulation 40.11(a) and section 5c(c)(5)(C) of the Commodity Exchange Act. Nadex has been requested to suspend listing and trading of these contracts during the review.
SupervisionInterventionsTrading
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2025-01-14•United States•Federal Reserve Board
The Federal Reserve Board and other agencies issued guidance for financial institutions affected by California wildfires and winds. It supports prudent loan modifications without examiner criticism if compliant with U.S. accounting standards and allows expedited requests for temporary facilities. Regulators won't penalize institutions unable to meet reporting requirements due to the disaster and highlight potential Community Reinvestment Act considerations for qualifying activities.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-01-14•Global•Financial Stability Board
The Financial Stability Board has published a report on how firms’ climate transition planning and transition plans can support financial stability monitoring. The report finds that transition plans can enhance firms’ risk management, inform investment decisions and help authorities monitor climate-related risks, but their current use for financial stability and macroprudential assessments is limited by restricted coverage, inconsistent methodologies, and uneven data and metrics. It calls for broader adoption and further standardisation by international organisations and standard setters to improve their usability for financial authorities.
Policy & regulationInternational standards & recommendationsClimate risk and sustainable finance
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2025-01-14•Russia•Central Bank of Russia
The Central Bank of Russia reported December 2024 monitoring results of maximum interest rates on ruble deposits from the 10 largest credit institutions by household deposits. The average maximum rates were 22.08% in early December, 22.28% mid-month, and 21.69% at month's end. Rates varied by maturity, with the highest at 21.34% for 181 days to one year.
Data & statisticsFinancial and market indicators
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2025-01-14•China•China Securities Regulatory Commission
China Securities Regulatory Commission Chair Wu Qing and UK Financial Conduct Authority Chief Executive Nikhil Rathi met in Beijing to discuss capital market connectivity, sustainable finance, and investor protection.
Policy & regulationCooperationCross-border cooperation
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2025-01-14•United States•U.S. Securities & Exchange Commission
SEC Chair Gary Gensler, in his final town hall speech, reflected on the SEC's investor protection mission and recent regulatory efforts. Achievements include 2,700 enforcement cases, USD 2.7 billion in public returns, and 46 finalized rules impacting the USD 60 trillion equity and USD 28 trillion Treasury markets. Initiatives highlighted include a one-day settlement cycle, enhanced governance and insider trading controls, cybersecurity and climate risk disclosures, and reforms in money market and private funds sectors.
Policy & regulationGuidance & interpretationOther
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2025-01-14•United States•U.S. Securities & Exchange Commission
The SEC settled charges against investment adviser representatives Tamir Shabat, Danny Z. Spiegel, and Joseph J. Orlando, Jr. for acting as unregistered brokers, violating Section 15(a) of the Securities Exchange Act. They agreed to pay nearly USD 540,000 in penalties and suspensions. VCP Financial LLC was censured and fined USD 100,000 for misleading disclaimers and conflict-of-interest issues under Section 206(2) of the Investment Advisers Act.
EnforcementInvestigations & enforcement actionsUnlicensed or unauthorized activity
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2025-01-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities & Exchange Commission charged Navy Capital Green Management, LLC with misrepresenting its anti-money laundering due diligence to private fund investors and related compliance failures, settling for a USD 150,000 civil penalty. The firm falsely claimed voluntary AML compliance and failed to perform due diligence, leading to asset freezes by a foreign court. Navy Capital agreed to a cease-and-desist order, censure, and the penalty without admitting or denying findings.
EnforcementInvestigations & enforcement actionsAML and CFTCompliance
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2025-01-14•United States•U.S. Securities & Exchange Commission
The U.S. Securities and Exchange Commission announced the retirement of Chief Accountant Paul Munter, effective January 24, 2025. During his tenure, Munter oversaw the SEC's engagement with the Financial Accounting Standards Board and the Public Company Accounting Oversight Board, contributing to key standards updates and publishing 22 statements on various financial reporting topics.
Institutional developmentLeadership change & appointmentsAccounting and financial reporting
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2025-01-14•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency penalized three former Wells Fargo executives for unsafe banking practices related to systemic sales misconduct. Claudia Russ Anderson received a prohibition order and a USD 10 million penalty, while David Julian and Paul McLinko were issued cease-and-desist orders with penalties of USD 7 million and USD 1.5 million, respectively. These actions conclude the OCC's proceedings against 11 individuals, following prior resolutions with eight other former executives.
EnforcementInvestigations & enforcement actionsCorporate governance
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2025-01-14•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency and other regulators issued a statement on supervisory practices for financial institutions affected by California wildfires and winds. It supports prudent loan adjustments, flexibility on compliance issues, expedited approvals for temporary facilities, and potential Community Reinvestment Act consideration for qualifying activities in disaster areas.
SupervisionSupervision approach, priorities & toolkitOperational risk and resilienceSupervision process and methodologies
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2025-01-14•Luxembourg•Ministry of Finance (Luxembourg)
Luxembourg's Ministry of Finance reported that Finance Minister Gilles Roth visited China and Hong Kong to strengthen financial ties and engage with key stakeholders. The mission included meetings with Chinese financial leaders and concluded at the Asian Financial Forum in Hong Kong. The ministry noted that seven of China's largest banks have their European headquarters in Luxembourg.
OtherCross-border cooperation
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2025-01-14•South Korea•Bank of Korea
The Bank of Korea published its Loan Officer Survey detailing financial institution lending trends for Q4 2024 and lending outlook for Q1 2025. Further information is available in the accompanying document.
Data & statisticsLending
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2025-01-14•Luxembourg•Luxembourg Commissariat aux Assurances
Luxembourg's Commissariat aux Assurances issued Circular Letter 25/1 on the Digital Operational Resilience Act (DORA), including annexes with incident reporting templates in JSON and Excel formats.
Policy & regulationGuidance & interpretationOperational risk and resilience
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2025-01-14•Europe•Council of Europe
The Council of Europe’s MONEYVAL issued follow-up reports on Estonia and the Slovak Republic, assessing their compliance with FATF recommendations. Estonia showed improvement in implementing financial sanctions related to terrorism, achieving compliance on seven recommendations, while Slovakia made limited progress, remaining partially compliant on key areas. Both countries remain under enhanced follow-up, with further updates expected in 2025.
Policy & regulationPeer reviews and country evaluationsAML and CFT