AML Compliance

RBI Fines Vedvyas Finance for Governance Non-Compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹30,000 on Vedvyas Finance Private Limited for non-compliance with governance directions. The company failed to obtain prior written permission from the RBI before appointing a director, which resulted in a significant change in its management.

RBI Fines Loknete R.D. Appa Bank for Non-Compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹30,000 on Loknete R.D. Appa, Kshirsagar Sahakari Bank Ltd. for non-compliance with directions on loans to directors and for failing to furnish required information during an inspection. The penalty was issued by order dated March 11, 2026.

AI Risks and Opportunities: Adopting an AGILE Framework in Canadian Financial Services

Canadian financial regulators, including OSFI and FINTRAC, have released a report on AI risks and opportunities in the financial services sector. The report introduces the AGILE framework to help stakeholders navigate AI's evolving impacts and emphasizes responsible AI adoption through principles like explainability, data governance, and ethics.

HKMA Alerts Public to Bank Scams and Fraudulent Websites

The Hong Kong Monetary Authority (HKMA) has alerted the public to fraudulent websites and scams reported by several banks. The alert lists specific banks and the types of scams, including phishing and fake login screens, and reminds the public about secure banking practices.

PBOC to Issue Renminbi Bills via HKMA

The People's Bank of China (PBOC) will issue Renminbi Bills through the Hong Kong Monetary Authority's (HKMA) Central Moneymarkets Unit. The HKMA has published the tender notice and related information for this issuance.

Guidance on Sanctions Exceptions and Licence Applications

The UK's Office of Financial Sanctions Implementation (OFSI) has updated guidance on how to use exceptions and apply for licences to comply with sanctions measures. The guidance clarifies automatic exemptions and the process for obtaining written permission for otherwise prohibited activities across various sanctions regimes.

EU Banking Sector Robust Amid Geopolitical Uncertainty

The European Banking Authority (EBA) published its Q4 2025 Risk Dashboard, indicating the EU banking sector remains robust with strong capital, liquidity, and asset quality despite geopolitical uncertainty. The report also includes the new CRR3/CRD6 dashboard, projecting capital metrics under future regulatory implementation.

Basel Committee Operational Risk and Market Risk Amendments

The Basel Committee has finalised a technical amendment to the standardised approach for operational risk, published for consultation in June 2025. It also includes a response to a frequently asked question on the standardised approach to market risk. Basel Committee members are expected to implement the amendment within three years.

FDIC Chairman Speech on Regulatory Toolkit Reforms

FDIC Chairman Travis Hill discussed ongoing reforms to the agency's regulatory and supervisory approach. Key initiatives include defining 'unsafe or unsound practices,' refocusing examinations on material risks, and revising the CAMELS rating system. Changes to consumer compliance supervision aim to focus on actual violations and consumer harm rather than process.

FDIC Chairman Hill on Risk-Based Capital Proposals

FDIC Chairman Travis Hill discussed two proposals to modernize the risk-based capital framework. The first proposal would implement the 2017 Basel agreement for large banks, while the second updates the standardized approach for other banks, with a focus on residential mortgages and consumer loans. Both proposals aim to enhance risk sensitivity and comparability.

SAM.gov Entity Exclusions Unavailable During Maintenance

The U.S. General Services Administration (GSA) issued a notice indicating that the SAM.gov Entity Exclusions (Debarments & Suspensions) search functionality was unavailable due to system maintenance. The notice provided alternative links for users to find information or report issues.

SAM.gov Entity Exclusions Page Not Found

The GSA SAM.gov system is experiencing a page not found error for entity exclusion details. This notice provides troubleshooting steps and contact information for the Federal Help Desk. The issue appears to be a technical problem with the SAM.gov website.

MAS Notice FHC-N133 on Valuation and Capital Framework

The Monetary Authority of Singapore (MAS) has amended Notice FHC-N133 concerning the valuation and capital framework for designated financial holding companies that are licensed insurers. These amendments, effective March 31, 2026, introduce changes related to equity counter-cyclical adjustments, structured products, and infrastructure investments, as well as criteria for capital instruments.

Revised MAS Notices 133 and FHC-N133 for Insurers

The Monetary Authority of Singapore (MAS) has issued revised Notices 133 and FHC-N133 for insurers. These revisions introduce the proposed equity counter-cyclical adjustment (CCA) and update capital treatment for structured products and infrastructure investments.

MAS Notice 133: Insurer Valuation and Capital Framework

The Monetary Authority of Singapore (MAS) has issued an amendment to Notice 133, which sets out the risk-based capital framework for licensed insurers, including asset and liability valuation requirements. This update consolidates existing technical details and takes effect on March 31, 2026.

Treasury Sanctions Rwanda Officials for Supporting M23 in DRC

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on the Rwanda Defence Force (RDF) and four of its senior officials for actively supporting the M23 armed group in the Democratic Republic of the Congo (DRC). These sanctions aim to enforce peace accords and condemn violations of international agreements.

Treasury Sanctions DPRK IT Worker Fraud Facilitators

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned six individuals and two entities for facilitating North Korean IT worker schemes that defraud U.S. businesses and generate revenue for DPRK's weapons programs. These actions aim to protect U.S. businesses and hold accountable those involved in these illicit activities.

Treasury Sanctions Four Sham Charities Funding Hamas Military Wing

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has designated four sham charities for directly funding Hamas's Military Wing and its terrorist activities. These designations aim to disrupt Hamas's global network of illicit fundraising and prevent the misuse of the charitable sector for violent aims.

Treasury Sanctions Global Network Diverting Funds to Benefit Hizballah

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned a global network of 16 individuals and entities for diverting over $100 million to benefit Hizballah. The action targets key financial facilitators and their associated companies involved in money laundering and sanctions evasion schemes.

State Governments Auction Securities

The Reserve Bank of India announced that several State Governments will auction securities totaling ₹57,408 Crore. The auctions cover various tenors and types, including new issues and re-issues of existing securities.

Chair Powell Accepts Public Integrity Award

Federal Reserve Chair Jerome Powell accepted the Paul A. Volcker Public Integrity Award at the American Society for Public Administration Annual Conference. In his remarks, Powell reflected on Paul Volcker's legacy of integrity and independence in public service, particularly during his tenure at the Federal Reserve.

OFAC Iran-Related General License U for Crude Oil Sales

OFAC has issued Iran-related General License U, authorizing the delivery and sale of crude oil and petroleum products of Iranian-origin loaded on vessels as of March 20, 2026. This license provides specific exceptions to sanctions for certain oil-related transactions.

Federal Reserve Notice: Bank Holding Company Formations, Acquisitions, and Mergers

The Federal Reserve System has published a notice regarding the formation of, acquisitions by, and mergers of bank holding companies. This notice provides information on these corporate actions within the banking sector.

Federal Reserve: Change in Bank Control Notices and Acquisitions of Shares

The Federal Reserve System published a notice regarding change in bank control applications and acquisitions of shares of banks or bank holding companies. The notice lists specific applications received and provides instructions for public comment, with a deadline of April 7, 2026.

OCC Meeting Summary with French Government Representatives

The Office of the Comptroller of the Currency (OCC) has published a summary of a meeting held with representatives from the French government. The meeting focused on banking supervision and regulatory cooperation between the two nations. This notice serves as an informational update on international engagement.

OCC Meeting Summary with American Share Insurance

The Office of the Comptroller of the Currency (OCC) has published a meeting summary detailing discussions with American Share Insurance. This notice provides an overview of the topics covered during the meeting.

Comptroller of the Currency: Revolut Bank Application

The Office of the Comptroller of the Currency (OCC) has received an application from Revolut Bank. The public comment period for this application closes on April 9th. This action signifies a new bank charter application review process.

FDIC Rescinds Policy on Failed Bank Acquisition Qualifications

The Federal Deposit Insurance Corporation (FDIC) has rescinded its Statement of Policy on Qualifications for Failed Bank Acquisitions. This action removes the previous policy guidance that outlined criteria for entities seeking to acquire banks in resolution.

FDIC Sunshine Act Meetings Scheduled

The Federal Deposit Insurance Corporation (FDIC) has published a notice regarding scheduled Sunshine Act meetings. The notice provides details on the time, date, place, and matters to be considered for upcoming meetings.

FDIC Sunshine Act Meeting Notice

The Federal Deposit Insurance Corporation (FDIC) issued a notice regarding a meeting held on March 19, 2026, with less than seven days' advance notice. The meeting was held in the FDIC Board Room and was webcast to the public.

FDIC Clarifies Deposit Insurance for U.S. Banks in Micronesia, Marshall Islands, Palau

The FDIC has issued a final rule clarifying deposit insurance coverage for branches of U.S. banks operating in the Federated States of Micronesia, the Marshall Islands, and Palau. This rule aims to provide clarity on how deposit insurance applies to these specific international branches.

OFAC Adds Persons to SDN List

The Office of Foreign Assets Control (OFAC) has added new persons to the Specially Designated Nationals (SDN) List. These individuals and entities are blocked, and U.S. persons are prohibited from engaging in transactions with them due to their support for HAMAS.

Securities Fraud Prosecution Hearing Fixed for Illegal Short Selling

The Securities and Futures Commission (SFC) has fixed the first criminal prosecution hearing in the District Court against two defendants for securities fraud involving illegal short selling under section 300 of the Securities and Futures Ordinance. The case involves alleged fraudulent schemes in the shares of 28 Hong Kong-listed companies.

SAM.gov Entity Exclusions Unavailable Due to Maintenance

The U.S. General Services Administration (GSA) has announced that the SAM.gov entity exclusions (debarments and suspensions) search function is unavailable due to scheduled maintenance. This notice informs users of the temporary unavailability of this critical data.

SAM.gov Entity Exclusions Unavailable Due to Maintenance

The General Services Administration (GSA) has issued a notice indicating that the SAM.gov Entity Exclusions (Debarments & Suspensions) search functionality is temporarily unavailable due to scheduled maintenance. The notice provides links for alternative search options and contact information for the Federal Help Desk.

SAM.gov Entity Exclusions Unavailable

The U.S. General Services Administration (GSA) announced that the SAM.gov Entity Exclusions (Debarments & Suspensions) search functionality was unavailable on March 24. This notice is to inform users of the temporary system outage.

SAM.gov Entity Exclusions Unavailable Due to Maintenance

The System for Award Management (SAM.gov) is experiencing an outage, making entity exclusion data unavailable. This notice informs users that the page for debarments and suspensions cannot be accessed due to maintenance. Users are directed to search, the homepage, or the Help page for assistance.

SAM.gov Entity Exclusions Maintenance Scheduled

The General Services Administration (GSA) announced scheduled maintenance for the SAM.gov Entity Exclusions (Debarments & Suspensions) system on March 24. The page containing this notice was not found, suggesting a potential issue with the SAM.gov website.

SAM.gov Entity Exclusions and Registrations Maintenance Notice

The General Services Administration (GSA) issued a notice regarding temporary impacts to SAM.gov's entity exclusions and registration functionalities due to scheduled maintenance. The notice provides links to search, the homepage, and help resources for users unable to access specific pages.

SAM.gov Entity Exclusions (Debarments & Suspensions)

The General Services Administration (GSA) provides access to entity exclusions and debarments through SAM.gov. The specific page for SAM.gov Entity Exclusions (Debarments & Suspensions) was not found, indicating a potential broken link or page removal. Users are directed to search, the homepage, or the help page for assistance.

SAM.gov Entity Exclusions Unavailable During Maintenance

The General Services Administration (GSA) is notifying users that the SAM.gov entity exclusions (debarments and suspensions) search functionality was unavailable due to website maintenance. The notice provides links to alternative resources and contact information for the Federal Help Desk.

Weekly Schedule of President António Costa

The European Council has published the weekly schedule for President António Costa for the period of March 23-29, 2026. The schedule includes various meetings with international leaders and public appearances in Portugal, France, and Belgium.

EU Statement on International Day for Racial Discrimination

The Council of the EU issued a statement on the International Day for the Elimination of Racial Discrimination. The statement reaffirms the EU's commitment to fighting racism through its Anti-Racism Action Plan and Strategy, and calls for the full implementation of international anti-discrimination conventions.

EU Council and European Council Forward Look

The EU Council has published its forward look for upcoming meetings between March 23 and April 5, 2026. Key events include the Foreign Affairs Council (Trade) at the WTO Ministerial Conference and discussions on fisheries, aquaculture, and agriculture.

RBI Overnight Variable Rate Repo Auction

The Reserve Bank of India (RBI) announced it will conduct an overnight Variable Rate Repo (VRR) auction on March 23, 2026, to manage liquidity conditions. The auction will be for ₹1,00,000 crore with a tenor of one day.

RBI Auction of State Government Securities

The Reserve Bank of India (RBI) has announced an auction for State Government Securities totaling ₹55,688 Crore. The auction includes various tenors and amounts offered by multiple states, with specific re-issue details for Assam and Jharkhand.

RBI Approves Lalbaug Bank Amalgamation with Akhand Anand Bank

The Reserve Bank of India has sanctioned the voluntary amalgamation of Lalbaug Co-operative Bank Ltd. with Akhand Anand Co-operative Bank Ltd. The scheme of amalgamation will come into effect on March 23, 2026, with all branches of Lalbaug Bank becoming branches of Akhand Anand Bank.

RBI Fines HSBC ₹31.80 Lakh for Inoperative Account Non-Compliance

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹31.80 lakh on The Hongkong and Shanghai Banking Corporation Limited for non-compliance with directions on inoperative accounts. The bank failed to host a searchable database of unclaimed deposits and assign Unclaimed Deposits Reference Numbers (UDRN) to certain deposits transferred to the DEA Fund.

Auction of Treasury Bills Announced

The Reserve Bank of India has announced an auction for 91-day, 182-day, and 364-day Treasury Bills totaling ₹35,000 crore. The auction is scheduled for March 25, 2026, with settlement on March 27, 2026. Eligible participants include various institutions and retail investors.

RBI: Interest Rate for Floating Rate Bond 2033

The Reserve Bank of India (RBI) has announced that the interest rate for the Government of India Floating Rate Bond 2033 (FRB 2033) for the period March 22, 2026, to September 21, 2026, will be 6.75 percent per annum. This rate is determined by a base rate equivalent to the average yield of 182-day T-Bills plus a fixed spread of 1.22 percent.