The Federal Reserve Board has proposed modernizing Regulation O by updating and indexing thresholds for credit extended to bank insiders. The proposal would simplify the rule and address passive investment fund interests while retaining safeguards against preferential treatment. Comments are due 60 days after Federal Register publication.
The Superintendency of Banks of Panama reported that International Banking Center deposits rose 7.69% year over year to USD 121.866 billion in the first half of 2026, while net lending increased 3.81% to USD 103.512 billion. External activity drove much of the expansion, and liquidity and capital ratios remained above regulatory minimums.
The Portuguese Insurance and Pension Funds Supervisory Authority introduced registration of meetings and hearings with legitimate interest representatives from July 28, 2026, and adopted the applicable statutory code of conduct.
The Portuguese Insurance and Pension Funds Supervisory Authority is recruiting a permanent insurance mediation supervision technician, with applications due by the end of Aug. 19, 2026.
The Central Bank of Colombia will gradually accumulate up to USD 4 billion in international reserves through monthly put-option auctions. The first auction, capped at USD 400 million, is scheduled for Aug. 3, 2026, with exercise conditional on the market exchange rate falling below its 20-business-day moving average.
The G7 Cyber Expert Group concluded a cross-border exercise simulating a large-scale cyberattack across all G7 jurisdictions. It also adopted a long-term strategy to increase the frequency and consistency of simulations involving financial authorities.
The Brazil Securities Commission reported BRL 420 billion in first-half securities issuance, up 10.8% year over year, with equity offerings reaching BRL 25.5 billion and the first initial public offering since 2021. Its second-quarter risk assessment also showed higher liquidity risk, driven mainly by wider bid-ask spreads amid weaker foreign equity inflows.
The European Supervisory Authorities called for consistent, risk-based supervision of cyber risks arising from frontier AI models. Financial entities should maintain robust governance and risk management frameworks, while DORA oversight of critical ICT third-party providers will also address these risks.
The European Banking Federation urged the removal of the Fees and Commissions KPI and the Trading Book KPI from EU Taxonomy disclosures in its response to an European Banking Authority consultation.
Uganda's Ministry of Finance, Planning and Economic Development brought institutional leaders together to address the country's private climate finance gap. Participants agreed to pursue a CEO declaration, form a private sector taskforce, and prioritize financing opportunities and regulatory barriers.
Uganda’s Ministry of Finance said the economy had reached about USD 70 billion and would need to grow roughly sevenfold to meet the USD 500 billion target within 15 years. It identified weak domestic revenue mobilization as the main risk and outlined reforms covering tax collection, procurement, project delivery, concessional borrowing and value-added production.
Kazakhstan's financial regulator held talks with Chinese authorities and major banks on closer cooperation in banking, insurance, digital assets and central bank digital currencies. Discussions also covered expanding Chinese banks' activities and increasing financing, investment and capital market activity in Kazakhstan. The country's three banks with Chinese participation hold KZT 2.8 trillion in assets, equal to 3.8% of banking system assets.
The regulator reissued Kazakhstan Housing Company JSC's license to conduct certain types of banking operations.
Kazakhstan’s financial market regulator outlined a preventive conduct supervision framework focused on responsible lending, transparent sales and protection from unwanted services. The measures prohibit preselected consent, protect borrowers’ choice of insurer and require firms to revise sales-based remuneration. The agency will monitor implementation of its guidance and may introduce additional legal requirements.
The Reserve Bank of India has required banks to strengthen counterfeit-note controls after finding inadequate efforts at some institutions. Banks must train cash-handling staff, equip branches in international-border districts with authentication or sorting machines and use counterfeit-note data to identify hotspots. Key compliance deadlines run from Sept. 15 to Nov. 7, 2026.
The Reserve Bank of India issued 64 consolidated supervisory Master Directions covering 11 categories of regulated entities and repealed 628 circulars with immediate effect. The directions consolidate existing requirements on an “as is” basis and will serve as the Department of Supervision’s sole instruction library. Prior actions under repealed instructions remain governed by those provisions.
The Malta Financial Services Authority is consulting on governance, eligibility, due diligence and reporting rules for notified aircraft financial leasing companies. The framework would require approved due diligence providers, ongoing fit and proper assessments, and anti-money laundering and countering the financing of terrorism controls.
The China Securities Regulatory Commission approved Dalian Commodity Exchange coke options and will oversee preparations for their launch and operation.
The Angola Capital Markets Commission trained Agricultural Development Support Fund employees on Angola’s capital market structure, financial instruments and investor risk profiles. The workshop also covered the licensing, supervision, regulation and tax treatment of collective investment undertakings.
The Angola Capital Markets Commission discussed capital market financing for small and medium-sized enterprises and entrepreneurs at a national youth employment conference. It outlined available financing mechanisms and explained how individuals and businesses can participate in the capital market.
The Bangko Sentral ng Pilipinas updated its list of cancelled and replaced registration documents as of the first quarter of 2026. Authorized Agent Banks and their affiliated foreign exchange corporations must not honor listed documents for foreign exchange purchases related to capital repatriation or remittance of earnings.
The Market Misconduct Tribunal found Sir Dickson Poon and Equity Advantage culpable of insider dealing in Dickson Concepts shares and found the listed company in breach of inside information disclosure requirements. The case involved 2,756,500 shares purchased before disclosure of a transaction that entitled Dickson Concepts to about HKD 1.15 billion in cash. Sanctions will be determined later.
The Hong Kong Monetary Authority published an HKICL warning about fraudulent websites purporting to provide buyer protection services for FPS transactions. HKICL is not affiliated with the sites and urged the public to remain alert and report suspected fraud.
The Central Bank of the Republic of Azerbaijan discussed artificial intelligence adoption and digitalization challenges with banking executives. Feedback from the roundtable will inform the future direction of the banking sector’s digital development.
The Central Bank of Russia reported that the monitored maximum ruble deposit rate rose during July 2026. The rate increased from 12.79% in the first 10 days to 12.85% in the final period.
The National Bank of the Kyrgyz Republic is consulting on regulatory amendments covering lending processes, remote financial services and credit risk management. The proposals seek to improve financial access for individuals and businesses, with comments due by Aug. 17, 2026.
The National Bank of the Kyrgyz Republic fined a Kyrgyz citizen KGS 17,500 for conducting unlicensed cash foreign exchange operations.
The National Bank of the Kyrgyz Republic fined one commercial bank KGS 13.6 million for failing to meet legal requirements for its internal control system.
The National Bank of Moldova has opened registration for a free financial education camp for people over age 16, with applications due by Aug. 6, 2026. The program will cover financial decision-making, digital services and payment security, and will introduce mentoring by senior women in the financial and banking sector.
The Central Bank of Cyprus published sector-level financial assets and liabilities for the quarter ended March 2026.
The South African Financial Sector Conduct Authority imposed ZAR 2.8 billion in penalties on 76 people and entities during 2025/26, up from ZAR 119.8 million in the previous reporting period. The increase largely reflected sanctions for material financial services law breaches, market abuse and anti-money laundering compliance failures.
The European Supervisory Authorities called on financial entities to strengthen proportionate prevention, detection and management controls for cyber risks from frontier AI models. Firms should establish clear governance, update risk appetite and resilience arrangements, and enhance continuous monitoring and incident response. AI-related risks will also inform oversight of critical ICT third-party providers in 2027.
The South African Reserve Bank reported that annual private-sector credit growth slowed to 7.80% in June, while M3 money supply declined by ZAR 12.012 billion during the month. Gross foreign reserves fell to USD 74.115 billion.
The National Securities and Stock Market Commission of Ukraine warned investors about fraud involving high-return promises, pressure tactics, remote device access and fake investment platforms. It urged investors to understand the product and risks before transferring funds and to check its public list of questionable investment projects.
The National Securities and Stock Market Commission of Ukraine said the virtual assets bill is nearing completion and undergoing final interagency and European compliance reviews. The MiCA-based framework will allocate responsibilities between the commission and the National Bank of Ukraine and establish licensing, supervisory and client asset protection requirements.
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye published written entrance examination results and identified candidates eligible for the oral stage, whose date and venue will be announced separately.
The EBA-ECB-EIOPA Data Point Model Alliance is consulting on DPM 2.1 enhancements to support integrated EU statistical and supervisory reporting. The proposal strengthens metadata versioning and adds support for logical data models, while new naming conventions seek to improve consistency across reporting frameworks. Comments are due by Sept. 30, 2026.
The European Central Bank found that oil price increases pass through rapidly and fully in absolute terms to euro area pre-tax pump prices, while fixed taxes moderate the percentage impact on consumers. Refining constraints linked to the Middle East conflict amplified the 2026 shock, helping lift diesel prices from EUR 1.63 per litre in late February to EUR 2.18 in early April. Renewed escalation pushed prices higher again in July.
The Latvian Ministry of Finance has proposed allowing AML-regulated entities to access customer due diligence data from multiple state registers through the DAGR platform. Existing access channels and fees would remain unchanged, and the consultation closes on Aug. 15, 2026.
The Financial Supervisory Authority of Norway has adopted regulations implementing supplementary EU crowdfunding requirements and Norway’s Crowdfunding Act from Aug. 1. The rules address authorization, governance, investor information, credit and risk assessment, reporting and supervisory cooperation.
The Reserve Bank of Australia reported total assets and liabilities of AUD 360.844 billion as of July 29, up AUD 646 million. Australian dollar investments increased by AUD 4.045 billion, while gold and foreign exchange declined by AUD 3.062 billion.
The Reserve Bank of India has introduced an immediately effective cybersecurity, technology risk and resilience framework for commercial banks. It strengthens board and management accountability, mandates continuous security monitoring and detailed controls over systems and third parties, and requires cyber incidents to be reported within six hours. Critical systems are subject to vulnerability assessments at least every six months, annual penetration testing and half-yearly disaster recovery drills.
The Single Resolution Board found that Banking Union banks improved across all seven resolvability dimensions, although gaps remain in areas including valuation, separability and transferability, and communication. Testing will become the primary assessment tool, with 214 tests planned across 78 banks in 2026 under multiannual programs running through 2028.
The Central Bank of Oman opened an exhibition tracing the development of the country’s monetary system and national currency. Running through Sept. 3, 2026, it features historical banknotes and coins and displays on successive currency issues and their security features.
The Central Bank of Seychelles has revoked Best Exchange’s bureau de change licence with effect from April 5, 2026, requiring it to cease all foreign exchange activities. The central bank’s board upheld the decision on July 21 following an appeal.
The Guernsey Financial Services Commission has directed businesses to review relationships following UN amendments to five Taliban sanctions entries. The individuals remain subject to an asset freeze, arms embargo and travel ban, with affected assets requiring immediate freezing and findings requiring prompt reporting.
European Central Bank Banking Supervision found that most of the 110 participating banks could model geopolitical shocks meaningfully, but identified gaps in scenario sensitivity, solvency-liquidity interactions and the realism of mitigating actions. Bank-specific deficiencies may affect Pillar 2 requirements through the supervisory review, while Pillar 2 guidance will remain unchanged.
The agency approved senior appointments at KMF-Demeu Corporate Fund and Alatau City Bank on July 29 and 30, respectively.
The European Central Bank reported that the composite cost of new corporate borrowing rose 15 basis points to 3.79% in June 2026, while the household mortgage rate was broadly unchanged at 3.51%. Term deposit rates increased to 2.21% for corporations and 2.09% for households.
The Bank of Central African States is seeking suppliers of banknote counting and valuation machines for its centers through an open international tender.
The Bulgarian National Bank set 2025 supervisory and resolution fees totaling EUR 20.609 million, including EUR 16.319 million for banking supervision.
Taiwanese banks’ derivatives turnover rose 20.48% from May to TWD 26,065.8 billion in June 2026, mainly because of higher foreign exchange swap activity. Foreign exchange contracts represented 83.67% of turnover, while domestic banks accounted for 71.58%.
The Bulgarian National Bank will require credit institutions and credit purchasers to file reports even when no non-performing loan claims were transferred during the reporting period.
The National Bank of Georgia launched an economic data portal and an interactive inflation report. The tools provide customizable time series, charts and tables covering key economic statistics and inflation trends, with options to download the results.
The South Korea Financial Services Commission approved rules bringing all electronic financial business operators within financial conglomerate internal control and risk management requirements. The change covers operators outside the financial and insurance category under the Korean Standard Industrial Classification, closing a regulatory gap.
South Korea's Financial Services Commission suspended Lotte Card's new-customer card business from Aug. 1 to Sept. 15, 2026, and imposed a KRW 5 billion fine after a breach affecting 2.97 million customers. Existing customers may continue using most services, while the authorities pursue tougher penalties and stronger security governance for financial firms.
South Korea's Financial Services Commission approved stricter duplicate-listing rules and guidelines effective August 3. Shareholder approval will be mandatory for listings of subsidiaries created through spin-offs, while other subsidiary listings without approval will face stricter review. The framework retains the 3% voting cap and strengthens parent board special committee independence.
South Korea's Financial Services Commission imposed KRW 1.2534 billion in penalties on two companies, former officers and audit firms for accounting violations and inadequate audit procedures. Separate sanctions include designated auditors, audit engagement restrictions and additional contributions to damages compensation funds.
South Korea's Financial Services Commission has ordered 10 registered electronic financial businesses that breached prudential standards to raise capital by Jan. 31, 2027, with Travel Wallet also required to improve profitability through business restructuring. The first action under the revised Electronic Financial Transactions Act does not restrict current operations, but noncompliance may lead to partial or full suspension.
South Korea’s Financial Services Commission retained five banks and five bank holding companies as systemically important for 2027. The banks remain subject to an additional 1.0% common equity capital requirement, while designated institutions must submit recovery plans within three months.
The Bank of Thailand reported broadly stable economic activity in June, while the economy slowed in the second quarter of 2026 as higher energy prices and Middle East-related travel disruptions weakened tourism and consumption. Technology-related exports, data center investment and government measures provided support, but manufacturing production declined.
The Bank of Slovenia’s stress tests found that banks would maintain sound capital adequacy and exceed minimum requirements even under an adverse geopolitical and energy shock scenario. Reverse stress tests based on a 300-basis-point decline in capital ratios also found banks’ scenarios generally reasonable and credible.
The China Securities Regulatory Commission has published a joint governance framework for financial institutions that targets clearer responsibilities, stronger controls and stricter risk management by 2029. It tightens oversight of shareholders, boards, remuneration, related-party transactions and internal controls. Regulators will use risk-based, look-through supervision and early intervention for major governance deficiencies.
The National Bank of Moldova reported that MIA Instant Payments has processed more than 31 million transactions worth about MDL 28.5 billion and registered over 985,000 unique users. More than 11,000 businesses use the system, while person-to-government payments exceeded MDL 64 million in their first year. Business-to-business transfers are planned as a further use case.
Four Chinese financial authorities issued guidelines to strengthen financial institution governance and establish a clearer, risk-focused framework by 2029. The measures tighten shareholder and board oversight, remuneration controls, internal audit and risk management, while expanding look-through supervision, early intervention and accountability.
The Polish Financial Supervision Commission clarified that the National Working Group on Benchmark Reform is a market-led advisory body without administrative, legislative or contractual powers. Its recommendations and the selection of the target benchmark are intended to support an orderly transition and were developed through published criteria and public consultation. KNF also corrected claims about the legislative process and cited the replacement of CHF LIBOR with SARON as an EU precedent.
China’s financial regulators and Ministry of Finance issued 22 measures to strengthen financial institution governance, targeting a clearer and more effective governance framework by 2029. The measures address shareholder interference, insider control, board and executive accountability, related-party transactions, internal controls, risk monitoring and differentiated supervision.
The Central Bank of Cyprus will introduce a pre-application exploratory stage for electronic money and payment institution licensing from Aug. 3, 2026, subject to a nonrefundable EUR 5,000 fee. The application fee will rise to EUR 10,000, while enhanced due diligence reports may be required and inactive applications may be deemed withdrawn.
The Central Bank of Cyprus calculated the reference interest rate under Article 314A of the Criminal Code at 11.32%, above which specified lending charges may constitute an offense carrying imprisonment, a fine, or both.
The Central Bank of the Philippines reported improved business sentiment in June, although the confidence index remained neutral for the month. Firms were highly optimistic about the next 12 months and planned further expansion and hiring despite concerns that inflation could exceed the 4% tolerance ceiling in 2027.
Bank Negara Malaysia reported that headline and core inflation eased to 1.9% in June, while private non-financial sector credit growth held at 6.4%. Banks maintained sound asset quality and ample liquidity, but the ringgit weakened 2.6% against the US dollar amid shifting expectations for US interest rates.
Exchange Fund assets rose by HKD 72.9 billion to HKD 4,463.6 billion in June 2026 as an increase in Hong Kong dollar assets outweighed a decline in foreign currency assets. The Monetary Base reached HKD 2,075.0 billion, while the Backing Ratio increased to 111.84%.
The Hong Kong Monetary Authority published data on Hong Kong’s foreign currency reserves and liquidity as of the end of June 2026. The data follow the International Monetary Fund’s Special Data Dissemination Standard.
Hong Kong residential mortgage approvals rose 25.8% month on month to HKD 50.6 billion in June 2026, while applications increased 12.5%. Outstanding loans reached HKD 1,955 billion, with the delinquency ratio remaining low at 0.11%.
The Hong Kong Monetary Authority estimated that negative-equity residential mortgage cases fell 61.9% to 4,356 at end-June 2026, with their value down 64.4% to HKD 19.6 billion. The three-month delinquency ratio nevertheless rose to 1.25% as the overall value of negative-equity loans declined faster than delinquent balances.
Hong Kong deposits increased by 0.1% in June, while loans and advances rose by 1.3%, taking first-half growth to 4.9% and 6.4%, respectively. Renminbi deposits declined by 3.6%, and the Hong Kong dollar loan-to-deposit ratio increased to 71.5% as loans outpaced deposit growth.
The Bank of Spain reported that Spain’s net lending reached EUR 60.6 billion, or 3.5% of GDP, in the 12 months through May 2026. The current account surplus was 2.5% of GDP, supported by a 4.2% tourism surplus, while the capital account surplus remained elevated at 1%. Monthly net lending declined to EUR 2.9 billion from EUR 7.5 billion a year earlier.
The Swiss National Bank reported a CHF 25.2 billion first-half profit, driven by CHF 31.7 billion from foreign currency positions. This outweighed a CHF 6.4 billion valuation loss on gold, while the SNB cautioned that market volatility limits conclusions about the annual result.
Uzbekistan adopted a constitutional law on the Tashkent International Financial Center on July 13, 2026. The center will promote international market integration and expand conventional and Islamic financial services, financial technology, digital assets and e-commerce under an investor-protection framework.
The Bank of the Lao PDR Women’s Union marked the Lao Women’s Union’s 71st anniversary and received certification for implementing the Three Good competition. Subordinate chapters and more than 1,000 members were recognized for their performance during the 2021-25 cycle.
The Central Bank of the Philippines reported that universal and commercial bank loan growth slowed to 9.8% year on year in June from 12.1% in May. Business lending growth eased to 9.2%, while consumer loan growth moderated to 17.8% as credit card and motor vehicle borrowing slowed.
The Central Bank of Azerbaijan held the refinancing rate at 6.5% and the interest-rate corridor at 5.5%-7.5%, balancing a higher inflation outlook against excess foreign-exchange supply. Annual inflation reached 5.8% in June, while purchase-oriented intervention lifted reserves to USD 13.8 billion.
The Reserve Bank of India has introduced immediate concurrent audit requirements for commercial banks, covering governance, risk-based scope, auditor appointments and reporting. All centralized processing centers must be audited, external auditors face five-year bank and three-year unit tenure limits, and major deficiencies or fraud must be escalated promptly.
The Reserve Bank of India has introduced immediate compliance function requirements for commercial banks, replacing existing guidance. The directions strengthen board oversight, chief compliance officer independence, risk-based testing and group-wide controls. Banks must also implement enterprise-wide compliance monitoring tools and obtain an independent external review of quality assurance at least once every three years.
The Central Bank of Colombia held its benchmark rate at 12% by a 4-3 majority, with three directors supporting a 50-basis-point increase, as inflation rose and expectations increased. Headline inflation reached 6.1% in June, while staff projected 2026 growth of 2.5% and flagged Middle East conflict and El Niño risks.
The Bank of Korea estimated that North Korea’s real GDP grew 3.5% in 2025, led by manufacturing, construction and a return to growth in agriculture, forestry and fishing. Nominal GNI reached KRW 48.5 trillion, while external trade rose 16% to USD 3.13 billion. The estimates use South Korean prices and value-added ratios.
Foreign investors sold a net KRW 49.336 trillion of South Korean listed stocks in June, extending net selling to six consecutive months. They purchased a net KRW 4.478 trillion of listed bonds, marking a third straight month of net buying.
Thailand's Office of Insurance Commission has extended its model road safety community initiative to two areas in Nakhon Sawan. Communities identified recurring accident risks and proposed infrastructure, traffic management and behavioral measures, while the program also promoted awareness of compulsory motor insurance coverage. The authority will consolidate proposals from six participating communities and coordinate their implementation and wider rollout.
The Central Bank of the Philippines reported that M3 grew 10.6% year on year to PHP 20.5 trillion in June, down from 12.8% in May as credit growth slowed. Private and public sector borrowing and higher net foreign assets supported the expansion, while seasonally adjusted M3 fell 0.7% month on month.
Bank Negara Malaysia reported USD132.57 billion in official reserve assets at end-June 2026 and assessed Malaysia’s international reserves as usable. Predetermined 12-month foreign currency outflows totaled USD8.65 billion, while net short forward positions stood at USD27.19 billion.
The Financial Secretary has reappointed 12 members of the Accounting and Financial Reporting Council’s Advisory Committee for two-year terms beginning Aug. 1, 2026. The committee advises the council on policies concerning its regulatory objectives and functions.
Hong Kong's Financial Services and the Treasury Bureau appointed three non-official members to the Task Force on Promoting Web3 Development for terms ending June 30, 2027. Two appointments take effect Aug. 1, 2026, while the third took effect May 12, 2026.
The Bank of Japan held its policy rate at around 1.0% by an 8-1 vote, projecting moderate but slower fiscal 2026 growth and underlying inflation approaching its 2% target, with risks skewed to the upside. It will consider further rate increases while monitoring Middle East developments, global artificial intelligence-related demand and foreign exchange rates.
The Australian Financial Complaints Authority has issued guidance for consumers affected by the Shield and First Guardian Master Funds collapses. Complaints are free and may be lodged without a lawyer, a Statement of Advice or complete documentation, although consumers should act promptly if a firm is insolvent.
The Australian Financial Complaints Authority has published guidance for consumers affected by the Shield and First Guardian Master Funds collapses. Complaints are free and can be filed without a formal Statement of Advice or complete documentation, but consumers should act promptly if the relevant firm is insolvent.
The Reserve Bank of Australia reported that total credit grew 0.8% in June and 8.5% over the year, led by 10.8% annual growth in business credit. Historical data were revised, and some statistical releases may be delayed over the coming months as the Direct to APRA reporting system is decommissioned.
The Australian Securities and Investments Commission has sued Auditeo Australia and two auditors over allegedly false or misleading unqualified audit reports for the First Guardian Master Fund. Alleged failures include missing audit work, up to AUD 170 million in untested assets and use of the wrong compliance plan. ASIC is seeking civil penalties, injunctions and other orders.
The Monetary Authority of Macao is preparing foundational training and examinations for bank employees covering banking operations, local regulatory requirements, risk controls and professional ethics. Dedicated industry and expert groups will develop the curriculum and assessment system, while advanced courses in areas including bonds and wealth management may follow in phases.
The South Korea Financial Services Commission announced that the New Leap Fund acquired KRW 2.6146 trillion in long-overdue debt covering 236,000 borrowers. Collection stops immediately, with qualifying vulnerable borrowers receiving write-offs and other claims subject to repayment-capacity assessments or restructuring. Further purchases across financial sectors and public institutions are planned from August.
The Brazil Securities Commission recapped targeted anti-money laundering rule changes, the creation of a Financial Technology Division and the announced addition of 30 staff. The Supreme Federal Court approved its Emergency Restructuring Plan, while the authority issued new enforcement, economic and open-data publications.