Banking & Finance

Michigan Celebrates Financial Services Jobs, 6,400 Added in 2025

The Michigan Department of Insurance and Financial Services released a press release celebrating Michigan Open Account Coalition (MOAC) Month and National Financial Literacy Month. The release highlights that Michigan's financial activities sector, which includes both insurance and financial services industries, added 6,400 jobs in 2025 according to data from the Michigan Center for Data and Analytics. The notice promotes the MOAC initiative launched in 2022 to expand access to low-cost banking accounts for underserved communities.

GoI Dated Securities Auction, ₹32,000 Crore, April 24, 2026

The Reserve Bank of India, on behalf of the Government of India, announces the sale of four dated securities for a total notified amount of ₹32,000 crore on April 24, 2026. The auction will be conducted using a multiple price method with competitive and non-competitive bidding through RBI's e-Kuber system. Settlement for successful bidders is due April 27, 2026.

RBI Releases Overseas Direct Investment Data for March 2026

The Reserve Bank of India released monthly Overseas Direct Investment data for March 2026, covering both the Automatic Route and the Approval Route. The data has been published as an Excel file on the RBI website. No new compliance obligations or regulatory changes are imposed by this release.

Money Market Operations, April 19, 2026

RBI published daily money market operations data as of April 19, 2026. All overnight and term money market segments recorded zero volume. RBI conducted overnight MSF operations of ₹102.00 crore at 5.50% and SDF absorption of ₹2,42,830.00 crore at 5.00%, resulting in net liquidity absorption of ₹2,42,728.00 crore for the day. Outstanding operations show net durable liquidity deficit of ₹4,27,698.11 crore.

RBI Announces Results of Fourth HaRBInger Global Hackathon, 496 Proposals

The Reserve Bank of India announced results of its Fourth Global Hackathon 'HaRBInger – Innovation for Transformation' on April 20, 2026. The hackathon received 496 proposals across three problem statements — Tokenised KYC, Offline CBDC (e₹), and Enhancing Trust — from teams in 15 countries. Twenty-one finalists presented solutions to an independent jury in Bengaluru during April 17–18, 2026, with winners and runners-up selected across all tracks.

Money Market Operations Report: ₹15,816 Cr Overnight Volume at 4.69% WAR

The Reserve Bank of India published daily money market operations data as of April 18, 2026. The overnight segment recorded ₹15,816.17 crore volume at a weighted average rate of 4.69%, with triparty repo comprising the largest component at ₹13,436.75 crore. RBI's Standing Deposit Facility absorbed ₹2,63,795 crore net liquidity on the day, while scheduled commercial banks held ₹8,45,426.97 crore in cash balances with the RBI.

ECB / FCCB / RDB Data February 2026 Released

The Reserve Bank of India has released data on External Commercial Borrowings (ECB), Foreign Currency Convertible Bonds (FCCB), and Rupee Denominated Bonds (RDB) for February 2026, covering both Automatic Route and Approval Route transactions. The data is published on the RBI website. This is a routine statistical release providing transparency on India's cross-border capital flows.

₹13k Crore Government Securities Conversion/Switch Auction Results

The Reserve Bank of India conducted a conversion/switch auction for Government of India Securities on April 20, 2026. A total notified amount of ₹27,000 crore across 9 source securities was offered for conversion to longer-dated destination securities. Of the ₹44,345.278 crore in face value offered by investors, ₹12,686.974 crore was accepted, resulting in ₹12,309.383 crore in destination securities issued.

Konark Urban Co-operative Bank Directive Extended to July 23, 2026

The Reserve Bank of India has extended restrictions imposed on The Konark Urban Co-operative Bank Ltd., Ulhasnagar for a further three months. The directive, originally issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949, is now effective through close of business on July 23, 2026. All other terms and conditions of the original directive remain unchanged.

Money Market Rates April 17, Volume ₹637,000 Crore

RBI published daily money market operations data as of April 17, 2026 showing aggregate volume of ₹637,000 crore across overnight and term segments. Net liquidity absorption from outstanding operations stood at ₹4,42,385.11 crore. Standing Deposit Facility rate remained at 5.00% and Marginal Standing Facility rate at 5.50%.

ABA Supports OCC Supervisory Appeals Reform Proposal

The American Bankers Association submitted comments to the Office of the Comptroller of the Currency supporting its February 2026 proposed rule to reform the supervisory appeals process. The OCC proposal would create a new independent board to review appeals and establish a de novo standard of review that does not defer to previous decisions. ABA recommended staffing the appeals board with independent, term appointees and establishing due-process protocols if the comptroller overturns any appeals board decision.

Nebraska Law Targets Social Media Fraud, Protects Older Adults

Nebraska lawmakers passed legislation requiring social media platforms to detect and remove fraudulent advertising. The law, championed by the Nebraska Bankers Association with support from the American Bankers Association, requires platforms to verify advertiser identity, investigate user fraud claims, and remove fraudulent ads within five business days. A similar federal SCAM Act has been introduced in both chambers.

OFAC Extends Temporary Waiver for Russian Oil Sanctions Through May 16

The Office of Foreign Assets Control reauthorized Russian oil exports through May 16, 2026, extending a temporary waiver that had expired on April 11. The extension was issued to ease economic pressure from rising fuel prices linked to military operations in Iran. The sanctions were originally imposed in 2022 to penalize Russia for its invasion of Ukraine.

FS-ISAC Sector Risk Advisory on Hardening Cybersecurity Against AI Threats

FS-ISAC published a sector risk advisory with nine recommendations for financial sector organizations on managing cybersecurity and resilience risks from threat actors using artificial intelligence to identify and exploit vulnerabilities. The advisory notes that traditional assumptions and approaches for vulnerability management no longer hold in the face of AI-enabled vulnerability discovery. Recommendations include aggressively remedying known risks and hardening cybersecurity perimeters.

FINRA Strengthens External Relations Leadership with Two Senior Appointments

FINRA announced two senior leadership appointments effective April 2026. Chris Rosello joined as Senior Vice President, Global Government Affairs, unifying the Office of Government Affairs and the Office of International Affairs under one leader. Chris Spina was appointed Senior Vice President, Corporate Communications, overseeing strategic communications, media relations and public engagement. Both leaders are based in Washington, D.C., and report to Marcia Asquith, Executive Vice President, Board and External Relations.

Climate Change Agreements Scheme — Carbon Emissions Factor for Gas

HMRC has published a policy paper updating the description and calculation methodology for the carbon emissions factor for gas within the Climate Change Agreements Scheme. The measure also introduces drafting amendments to existing secondary legislation to consolidate and clarify scheme eligibility criteria. These changes took effect on 20 April 2026.

Sri Lanka Annual Economic Review 2025 Released

The Central Bank of Sri Lanka released its Annual Economic Review 2025, a statutory publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023. The review documents Sri Lanka's economic performance including estimated 5% real GDP growth, a third consecutive year of current account surplus, a primary balance surplus, and improved financial sector profitability and asset quality. The report covers monetary policy, financial system development initiatives, and macroprudential measures implemented during 2025.

CBSL Releases 2025 Financial Statements and Operations Publication

The Central Bank of Sri Lanka released its 2025 Financial Statements and Operations publication on 20 April 2026, as required under Section 99(2) and 7(1)(l) of the Central Bank of Sri Lanka Act, No. 16 of 2023. The publication, presented by Governor Dr. Nandalal Weerasinghe to the President and Minister of Finance, covers the Bank's institutional performance during 2025 and includes IFRS-compliant financial statements for the year ended 31 December 2025. This is an informational release presenting the Central Bank's own financial accountability; it does not impose new regulatory obligations on external parties.

Open Market Operations Data - April 20 2026

CBSL publishes overnight money market transaction data for April 20, 2026. Standing Lending Facility rate maintained at 7.75% with minimum rate of 7.55%. Standing Deposit Facility at 7.70% with Rs. 138,438 million in use. CBSL Treasury Bill/Bond holdings total Rs. 2,508,920.63 million face value (Rs. 1,585,747.04 million book value).

Governor Villeroy de Galhau on Transatlantic Economic Interdependence at Atlantic Council

François Villeroy de Galhau, Governor of the Bank of France, delivered a speech at the Atlantic Council in Washington DC reflecting on one year of transatlantic economic relations. He noted that the global economy proved more resilient than feared, with global growth reaching 3.4% compared to a 2.8% April 2025 forecast, and the euro area showing 1.5% growth with 2.1% inflation. The speech emphasized continued mutual interdependence between the US and Europe despite trade barriers and geopolitical tensions.

Minding the Tails: Safeguarding Resilience of Non-Bank Finance

Deputy Governor Vasileios Madouros of the Central Bank of Ireland delivered a policy speech at Irish Funds on 9 April 2026 addressing tail risks and resilience in non-bank finance. The speech highlights the widening range of possible outcomes driven by geopolitical unpredictability and structural shifts within the financial system. Madouros notes that non-bank entities now hold approximately half of global financial assets, while Ireland's funds sector manages close to €6 trillion in assets under management, serving investors across Europe and globally.

Economic Outlook and the Labor Market

Federal Reserve Vice Chair Philip N. Jefferson delivered a speech at the University of Detroit Mercy on April 7, 2026, presenting his economic outlook. Jefferson indicated the U.S. economy is growing at approximately 2 percent annually, led by consumer spending and business investment, with inflation remaining above the Fed's 2 percent target. He characterized the labor market as roughly in balance but susceptible to adverse shocks, with risks to both sides of the Fed's dual mandate of maximum employment and stable prices.

The Challenges Posed by AI from the Perspective of the Central Bank

Denis Beau, First Deputy Governor of the Banque de France, delivered remarks on the challenges artificial intelligence poses for central banks. The speech addresses AI's impact on central bank objectives—particularly price and financial stability monitoring—and on the operational management of central bank resources. Beau cited investment data showing substantial AI-driven capital formation, with US semiconductor and software sectors driving advanced G20 investment since early 2024, and noted that French software and database investment has doubled over the past decade while data centre construction has increased 2.5-fold.

Central Bank Independence – In Need of Further Thinking

Andrew Bailey, Governor of the Bank of England, delivered a speech at Columbia University reflecting on the concept of central bank independence (CBI). Bailey argues that while modern CBI emerged from the high-inflation era of the 1970s and was formalised through statutory powers, the framework remains incomplete — particularly regarding financial stability as a second objective alongside monetary stability. He contends that the independence contract for financial stability is less robust than for monetary policy, because financial stability operates through multiple levers directly affecting private interests rather than through a single aggregate tool.

Iceland's Inflation, Wage Policy and Monetary Evolution

The Central Bank of Iceland Governor Ásgeir Jónsson delivered a historical speech at the 65th Annual Meeting recounting Iceland's inflation trajectory from 1970 onward. The speech examines how index-linked wage agreements and the absence of a comprehensive social covenant contributed to persistent inflation, and how Iceland used a crawling-peg monetary framework tied to an exchange rate indicator index to manage currency valuation against domestic and foreign unit labour costs.

Bulgaria Inflation Outlook 3.7% Baseline, Adverse Scenarios 4.4-4.9%

BNB Governor Dimitar Radev presented Bulgaria's macroeconomic outlook to diplomatic heads, with a baseline inflation projection of 3.7% and adverse scenarios ranging from 4.4% to 4.9%. The Governor emphasised that geopolitical factors have moved from the background into the macroeconomic environment itself, with energy prices, logistics, and confidence as primary transmission channels. The ECB's March 2026 Governing Council meeting maintained key interest rates unchanged without pre-committing to future rate paths, assessing that short-term impacts would operate primarily through energy prices while medium-term effects depend on conflict duration and price transmission.

Tokenisation Can Break 2% Intermediation Cost Barrier

ECB Executive Board Member Piero Cipollone delivered a keynote address at Harvard Law School examining whether tokenisation and distributed ledger technology can break the persistent 2% unit cost barrier in financial intermediation. The speech notes that despite significant technological advances since the late 19th century, the unit cost of connecting borrowers to savers has remained broadly constant at approximately 2% of intermediated assets in the United States, Germany, France, and the United Kingdom. Cipollone argues that tokenisation represents a genuinely different technology that could allow efficiency gains to flow to end users, but emphasises that this outcome is possible but not guaranteed, and outlines conditions necessary for such transformation.

SEC, CFTC Propose Raising Form PF Filing Thresholds

The SEC and CFTC jointly proposed amendments to Form PF that would significantly raise filing thresholds. The filing threshold would increase from $150 million to $1 billion in private fund assets under management, affecting advisers with assets between those levels. The proposal would also raise the exposure reporting threshold for large hedge fund advisers from $1.5 billion to $10 billion in hedge fund assets. The agencies state that Form PF would continue to collect information on over 90 percent of private fund gross assets. The public comment period will remain open until 60 days after publication in the Federal Register.

Maryland Repeals Licensing Exemption for Acquirers of Consumer Credit Loans

Maryland has repealed Section 11-102 of the Maryland Financial Institutions Article, eliminating an exemption that previously allowed certain persons acquiring mortgages, mortgage loans, or installment loans to avoid state licensing requirements. Governor Wes Moore signed Senate Bill 784 on April 14, 2026, characterizing the repeal as a 'clarifying corrective measure' addressing an erroneously enacted 2025 provision. The law takes effect July 1.

ECB Reforms, Insurance Liberalisation, FDI Updates

The Reserve Bank of India has notified amendments to External Commercial Borrowings (ECB) Regulations, liberalising overseas borrowing rules for new transactions. India has also implemented reforms allowing 100% foreign investment in the insurance sector, effective 5 February 2026. Amendments to Press Note 3 governing FDI from land border countries (approved 10 March 2026) introduce an automatic route threshold of up to 10% and a 60-day fast track for joint ventures.

Eiger Funding PCC Ltd v Ridge and Partners LLP - Monitoring Surveyor Liable for £2.5m Damages

The UK High Court (EWHC 609 TCC) found independent monitoring surveyor Ridge and Partners LLP liable for £2.5m in damages to lender Eiger Funding (PCC) Limited for professional negligence. The court determined Ridge breached its duty of care by failing to provide independent professional judgment, instead relying on figures from the borrower. Ridge had also acted as quantity surveyor for the developer on the same project without obtaining RICS-required "Informed Consent", creating a conflict of interest that compromised their independence.

OCC, FDIC Bar Reputation Risk in Bank Supervision

FinCEN proposed a rule revising Bank Secrecy Act AML-CFT program requirements to implement the Anti-Money Laundering Act of 2020, adopting a risk-based, effectiveness-focused approach. The FDIC, OCC, and NCUA concurrently proposed related changes. Comments on both proposals must be received by June 9. Separately, FinCEN and OFAC issued a joint proposed rule to implement the GENIUS Act's requirements for permitted payment stablecoin issuers. The FDIC also rescinded its June 2023 guidance on multiple NSF re-presentment fees, effective immediately.

Treasury Proposes AML/CFT and Sanctions Compliance Requirements for Permitted Payment Stablecoin Issuers

The Treasury Department, through OFAC and FinCEN, issued a Notice of Proposed Rulemaking (NPRM) on April 10, 2026 (FR 2026-06963) that would bring permitted payment stablecoin issuers within the Bank Secrecy Act framework. Issuers would be required to implement comprehensive AML/CFT programs including board-approved written policies, internal controls, customer due diligence, independent testing, and designation of a US-based compliance officer. The proposal also establishes enforcement tools including cease-and-desist orders and civil monetary penalties.

GCC Distressed Financing: No White Knight Rescue

This JD Supra article examines the evolving GCC corporate credit landscape, noting that traditional bank lenders are increasingly selective while private credit fills gaps in SME, mid-market, and distressed-company financing. The article analyses stakeholder dynamics in distressed situations and concludes that all restructuring capital is priced against risk, complexity, and uncertainty, requiring realistic commercial alignment among existing lenders, shareholders, and new investors.

Germany Cross-Border Payment Reporting: €50k Threshold Since January 2025

Germany has raised the cross-border payment reporting threshold under Sec. 67 of the German Foreign Trade and Payments Regulation from €12,500 to €50,000 effective January 2025. The rule, administered by the Deutsche Bundesbank for balance-of-payments statistical purposes, now expressly includes crypto-asset transfers and retains a monthly aggregation requirement. Non-compliance constitutes an administrative offense with fines up to €30,000 per violation.

SEC Staff Guidance on Broker-Dealer Registration for Crypto Covered User Interfaces

The SEC Division of Trading and Markets issued a staff statement on April 13 providing its views on when providers of crypto asset securities interfaces must register as broker-dealers under Section 15(a) of the Securities Exchange Act of 1934. The statement defines 'Covered User Interfaces' as software that assists users in initiating self-custodial crypto asset securities transactions on blockchain protocols, and identifies six conditions under which such interface providers would not require broker-dealer registration. The statement requires compliant interfaces to disclose their role, fee structure, cybersecurity practices, conflicts of interest, and fraud/fee-manipulation policies, and to implement appropriate policies and controls.

FinCEN Proposes AML Reform with Risk-Based Enforcement and Two-Pronged Effectiveness Test

FinCEN proposed significant AML/CFT reforms on April 7, 2026, replacing vague effectiveness standards with a two-pronged test distinguishing program establishment from ongoing execution. The proposal, developed with federal banking regulators, introduces risk-based enforcement thresholds, mandates dynamic risk assessments, requires board-level AML/CFT governance approval, and explicitly welcomes AI and advanced analytics as evidence of program strength. A 12-month implementation period is proposed, with public comments accepted through June 9, 2026.

AMF Quebec, OSC, AMF France Enter Cross-Listing Agreement

The AMF Quebec, Ontario Securities Commission (OSC), and AMF France entered into a trilateral cooperation agreement establishing a new collaborative procedure for cross-listing securities between Canada and France. The agreement creates a framework for dialogue and information sharing between the three securities regulators to support companies pursuing cross-listing through prospectus in both jurisdictions. The agreement does not provide regulatory relief; companies must continue to comply with all applicable regulatory requirements of both countries and applicable exchange requirements.

EMLCU Hosts UN Peacebuilding and Peace Support Office Delegation in Cairo

The Egyptian Money Laundering and Terrorism Financing Combatting Unit (EMLCU) hosted a delegation from the United Nations' Peacebuilding and Peace Support Office (PBPSO) at its Cairo headquarters on 19 April 2026. The meeting focused on strengthening joint cooperation, exchanging expertise in combating financial crimes, and supporting international peacekeeping. Both parties discussed FATF standard adherence, organized crime links to corruption and money laundering, practitioner capacity building, and women's empowerment in anti-corruption efforts.

AMF Quebec, OSC and AMF France Sign Cross-Listing Agreement

AMF Quebec, the Ontario Securities Commission (OSC), and AMF France entered into a cooperation agreement to support cross-listing of securities between Canada and France. The agreement establishes a collaborative procedure facilitating dialogue and information sharing between the three securities regulators. Under the agreement, companies seeking to cross-list by prospectus must still comply with both countries' regulatory requirements and applicable exchange rules, but will receive enhanced support and assistance from the regulators throughout the prospectus review process.

ESMA Regulatory Documents, Public Positions, Guidelines and Press Releases Index

The Polish Financial Supervision Authority (KNF) published an updated index of European Securities and Markets Authority (ESMA) regulatory documents, public positions, guidelines, and press releases. The page was last updated on 17 October 2025 and includes links to ESMA documents spanning 2017 to 2025, covering topics including European Common Enforcement Priorities for annual reports, IFRS 17 implementation, MAR guidelines, and COVID-19 related accounting guidance.

ESMA Guidelines on Financial Information Supervision Translation

ESMA published guidelines on financial information supervision under the Transparency Directive, establishing 18 supervisory guidelines covering scope, supervision objectives, European Supervisory Authorities' roles, pre-clearance procedures, selection methods, analysis procedures, supervisory actions, European coordination, emerging issues, and reporting. These guidelines apply to all EU member state competent authorities responsible for supervising financial information disclosures by issuers whose securities are admitted to trading on regulated markets. The guidelines enter into force two months after publication in all EU official languages.

ESMA Sets 2015 Enforcement Priorities for Financial Statements

ESMA published its annual Public Statement on European Common Enforcement Priorities for listed companies' 2015 financial statements. The statement identifies three key areas for national enforcer review: impact of financial markets conditions (interest rates, foreign exchange, country risk), consistency of statement of cash flows with other primary financial statements, and fair value measurement and disclosures for non-financial assets. ESMA and European national enforcers will monitor application and publish findings in early 2017.

Hungarian National Bank 2025 Press Releases

The Magyar Nemzeti Bank (MNB) published its 2025 press release index covering multiple topics in monetary policy, financial stability, and market development. Notable releases include a systemic risk capital buffer requirement targeting real estate market risks effective 1 January 2026, cooperation initiatives with the Hungarian Competition Authority to lower inflation, and consumer warnings on crypto-assets from EU Supervisory Authorities. The page also covers the Hungarian banking sector's shock-absorbing capability, household lending trends tied to the Home Start Programme, and anti-cyberfraud initiatives.

MNB 2026 Press Releases Covering Economy and Art Loans

The Magyar Nemzeti Bank (MNB) published its 2026 press releases covering diverse topics including art loans to museums in Miskolc and Karcag, food industry development, inflation control achievements, Budapest Stock Exchange awards, household and corporate loan portfolio growth, the 'Hungarian Innovator' trademark programme, international reserves management, required reserve ratio reduction, and a book launch on Hungarian inflation history.

2024 Archive of MNB Press Releases

The Magyar Nemzeti Bank (MNB) published its 2024 press release archive, containing approximately 30 links to press releases covering financial accounts, capital buffers, balance of payments, housing market analysis, inflation developments, securities data, insurance and pension fund reports, banking system stability assessments, prudential data, and European Banking Authority cooperation. The archive includes statistical releases for Q3 2024 and October 2024 across household lending, interest rates, investment funds, and credit institution balance sheets.

MV Realty Settlement Voiding 700+ Nevada Homeowner Benefit Agreements

The Nevada Attorney General and Nevada Consumer Affairs Unit announced a settlement with MV Realty resolving investigations into deceptive trade practices. All 700+ MV Realty Homeowner Benefit Agreements in Nevada are declared null and void, and encumbrances recorded against affected properties must be removed within 30 days. MV Realty must cease all collection efforts, provide $200,000 in restitution to consumers who paid early termination fees, and waive repayment of promotional fees received.

Dorna Clark Deregistered Under Designated Businesses Act

The Isle of Man Financial Services Authority has deregistered Dorna Clark from the Designated Businesses Register under Section 12(1)(a) of the Designated Businesses (Registration & Oversight) Act 2015. The deregistration took effect on 20 April 2026. This is an administrative notice confirming the removal of a registered entity from the regulatory register.

Farmers Insurance Group Stipulation Consent Order, Docket 26-008-I

Vermont Department of Financial Regulation issued a Stipulation and Consent Order against Farmers Insurance Group in Docket 26-008-I, dated April 17, 2026. The specific regulatory violations cited and any associated penalties are contained in the attached consent order document. Insurance companies operating in Vermont should monitor for updates related to this enforcement action.

Testing Period for SICVECA Financial Indicators Data Class, Aug 2015

SUGEF CR notified all supervised financial entities of a testing period (24-28 August 2015) for submitting financial indicator and capital adequacy data through the SICVECA platform. Entities must download the SICVECA Desktop configuration file published on 20 August 2015 and submit test XML files (3401, 3402, or 3403 as applicable) using June and July 2015 reporting periods. All test submissions will be purged after the testing window. The first production filing via SICVECA has a cutoff date of August 2015.