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MAS strengthens GIRO safeguards, transaction limits considered

MAS has issued a parliamentary reply indicating it is working with the Association of Banks in Singapore to strengthen GIRO (General Interbank Recurring Order) safeguards following questions from Members of Parliament about consumer protections against erroneous deductions. The review will consider enabling customers to set monthly limits on transaction value and number, and enhancing transaction monitoring and due diligence on billing organisations. MAS advises consumers to review their GIRO arrangements and set appropriate transaction limits with their banks.

Written reply to Parliamentary Question on impact of rising interest rates and mortgage repayments for homebuyers

MAS responded to a parliamentary question on rising interest rates and mortgage repayments for Singapore homebuyers. The response outlined existing safeguards including the Total Debt Servicing Ratio with interest rate floors and HDB concessionary mortgage loans. Deputy PM Gan Kim Yong noted that Singapore interest rates have remained stable while advising homebuyers to exercise prudence given global economic uncertainty.

Written Reply to Parliamentary Question on Household Liabilities and Assets

MAS addresses Parliament on household liabilities and assets

Parliamentary Reply: Variable Capital Companies Statistics

MAS provided parliamentary responses on Variable Capital Companies (VCCs) as of 1 April 2026. Singapore has 1,338 VCCs managed by licensed fund managers and banks. Last year, 25 VCCs were found to have held no assets without valid reason and their fund managers were directed to deregister them. MAS stated it conducts regular monitoring and review of fund managers, including regulatory compliance when using VCC structures.

NCUA Proposes Associational Common Bond Rule Changes

The NCUA Board issued a proposed rule to modify the associational common bond requirements for credit union chartering and field of membership. The proposal would affect how credit unions define and expand their membership bases. The public comment period closes on June 8, 2026.

Bank Julius Baer fraudulent websites scam alert

The HKMA issued a scam alert warning the public about fraudulent websites associated with Bank Julius Baer & Co. Ltd. The alert reminds consumers that banks will not send SMS or emails with embedded hyperlinks directing them to bank websites for transactions, nor will they request sensitive information such as login passwords or One-Time Passwords via phone, email, or SMS. Affected individuals who have provided personal information or conducted transactions through these fraudulent sites should contact the relevant bank and report to the Hong Kong Police Force.

GENIUS Act Proposed Rules for Payment Stablecoin Issuers

The FDIC Board approved a notice of proposed rulemaking on April 7, 2026, to implement the GENIUS Act by establishing requirements for FDIC-supervised permitted payment stablecoin issuers (PPSIs) and insured depository institutions (IDIs) engaged in payment stablecoin activities. The proposed rule sets authorized/prohibited activities, reserve asset requirements, capital and risk management standards, and a two-business-day redemption requirement. The FDIC also clarifies that deposits held as stablecoin reserves are not insured on a pass-through basis to payment stablecoin holders.

AML/CFT Program Requirements Notice of Proposed Rulemaking

The FDIC, OCC, and NCUA issued a joint Notice of Proposed Rulemaking to revise AML/CFT program requirements for banks. The proposal would require banks to establish and maintain risk-based AML/CFT programs with four components: policies and controls, independent testing, a U.S.-based compliance officer, and employee training. FinCEN also issued a concurrent NPR on similar requirements for financial institutions.

Final Rule Prohibits Use of Reputation Risk by Bank Regulators

The FDIC and OCC jointly issued a final rule on April 7, 2026, prohibiting banking regulators from using reputation risk as a basis for criticizing or taking adverse action against supervised institutions. The rule defines reputation risk and removes all such references from FDIC examination manuals including the Risk Management, Application Procedures, Trust, and Consumer Compliance Examination Manuals. The agencies clarified this rule does not impose obligations on supervised institutions.

Final Rule Prohibiting Use of Reputation Risk by Regulators in Bank Supervision

The OCC and FDIC jointly issued a final rule codifying the prohibition of reputation risk from their supervisory programs. The rule defines reputation risk and explicitly bars the agencies from criticizing, taking adverse action, or instructing banks to close accounts based on political, religious, or cultural views; constitutionally protected speech; or lawful business activities perceived as reputation risks. The rule implements Executive Order 14331 aimed at ensuring fair banking access.

FDIC Board Approves Proposal to Implement GENIUS Act Stablecoin Requirements

The FDIC Board approved a notice of proposed rulemaking implementing the GENIUS Act for payment stablecoin issuers supervised by the FDIC. The proposal establishes prudential standards including reserve asset requirements, redemption obligations, capital standards, and risk management requirements for permitted payment stablecoin issuers and IDIs providing custodial services. It also clarifies that reserves backing payment stablecoins qualify for pass-through FDIC deposit insurance and that tokenized deposits meeting the statutory definition are treated like any other deposits under the Federal Deposit Insurance Act. Comments will be accepted for 60 days after Federal Register publication.

AML/CFT Program Requirements Proposed Rule

FDIC, OCC, and NCUA jointly published a proposed rule on April 7, 2026 to amend AML/CFT program requirements for supervised banks and credit unions. The amendments would align agency rules with FinCEN's concurrent proposals and the Anti-Money Laundering Act of 2020, including risk-based program requirements, U.S.-based compliance officer mandates, and enhanced FinCEN consultation procedures. Comments are due 60 days after Federal Register publication.

Korean Household Loans Rose KRW 3.5T in March 2026

The Financial Services Commission of Korea released March 2026 household loan statistics showing outstanding balances increased KRW 3.5 trillion (preliminary), accelerating from a KRW 2.9 trillion rise the prior month. Home-backed mortgage loans rose KRW 3.0 trillion while nonbanking sector lending accounted for KRW 3.0 trillion of the total increase. The FSC urged financial companies to prepare for upcoming household debt management measures effective April 17.

Sunshine Act Meeting Notice - Board Meeting With Less Than Seven Days' Advance Notice

The Federal Deposit Insurance Corporation published a Sunshine Act meeting notice announcing a Board meeting scheduled for April 7, 2026, at 1:00 p.m. The meeting will be open to public observation via webcast and will consider proposed rulemakings on stablecoin requirements under the GENIUS Act and Anti-Money Laundering/Countering the Financing of Terrorism programs, as well as a final rule on prohibition of reputation risk use by regulators.

Statement on Proposal to Implement the BSA Program Rule

FDIC Chairman Travis Hill delivered a statement at the April 7, 2026 Board meeting describing a proposal to implement the BSA Program Rule under the 2021 Anti-Money Laundering Act. The proposal would establish a risk-based supervisory approach, allowing banks to allocate resources toward high-risk activities and away from low-risk compliance exercises. Banks could rely on Treasury's National Priorities for risk assessments, while regulators would retain authority to act against serious violations such as drug cartel cash deposits or terrorist financing.

Statement on GENIUS Act Stablecoin Implementation Proposal

FDIC Chairman Travis Hill announced the FDIC Board's consideration of a proposed rule to implement the GENIUS Act, establishing prudential requirements for payment stablecoin issuers that are subsidiaries of FDIC-supervised banks. The proposal covers reserve assets, redemptions, permissible activities, capital requirements, pass-through insurance, and the prohibition on yield. The FDIC seeks comment through 144 specific questions, including on tokenized deposit treatment.

Statement on Final Rule Removing Reputational Risk from Supervisory Program

FDIC Chairman Travis Hill issued a statement announcing a final rule that eliminates "reputational risk" from the FDIC's bank supervisory program. The rule codifies the removal of supervisory focus on reputation risk as a standalone risk category, effective April 7, 2026. The change addresses concerns that unfocused attention to reputation risk could lead to pressure on banks to debank law-abiding customers.

Revised Enforcement Decree of Microfinance Support Act

The Financial Services Commission of Korea approved revisions to the Enforcement Decree of the Microfinance Support Act on April 6, 2026. The revision raises the common microfinance contribution rate for banks from 0.06% to 0.10% and for nonbanks from 0.03% to 0.045% of household loan sizes, generating an additional KRW 197.3 billion annually (KRW 134.5 billion from banks, KRW 62.8 billion from nonbanks). The Korea Inclusive Finance Agency will also be authorized to provide credit guarantees for microloans under the Credit Counseling and Recovery Service program.

Securities and Futures Amendment Bill 2026 - Dual Listing Framework

The Monetary Authority of Singapore introduced the Securities and Futures (Amendment) Bill 2026 for First Reading in Parliament. The Bill enables a Global Listing Board (GLB) co-established by Singapore Exchange (SGX) and Nasdaq Stock Market to facilitate dual listings under a streamlined regulatory framework. MAS will gain powers to prescribe dual listing arrangements and harmonise securities laws with foreign jurisdictions.

Written reply to Parliamentary Question on timeline for making cash acceptance mandatory

The Monetary Authority of Singapore (MAS), through Deputy Prime Minister Gan Kim Yong, responded to a parliamentary question regarding a timeline for mandating cash acceptance by law. The government has deferred the decision, referring instead to a previous ministerial reply dated 26 February 2026. The question was raised in response to concerns about consumers being left without payment options during digital banking service failures.

SIC Public Statement on PSC Corporation Ltd Take-over Rule Breach

The Securities Industry Council issued a public statement finding that Dr. Goi Seng Hui, Executive Chairman of PSC Corporation Ltd, breached Rule 14.1(a) of the Singapore Code on Take-overs and Mergers. The breach occurred when the Offeror purchased shares on 4 December 2023 despite the Share Buy-Back Exemption conditions not being met, causing his voting rights to increase to 30.23%. The Offeror failed to make a mandatory general offer for the company upon crossing the 30% threshold.

Written Reply on Private Credit Risk Exposure of Singapore Financial Institutions

MAS responded to a parliamentary question regarding Singapore-domiciled financial institutions' exposure to US private credit markets. Deputy Prime Minister Gan Kim Yong confirmed that Singapore financial institutions have minimal exposure to US private credit despite record 9.2% default rates in 2025. MAS stated it regularly monitors risk exposures as part of supervisory oversight and engages financial institutions on stress testing balance sheets against global financial stress scenarios including private credit defaults.

Result of Yield/Price Based Auction of State Government Securities - April 2026

The Reserve Bank of India conducted an auction of state government securities on April 7, 2026, successfully raising the full target of ₹18,159 crore from seven participating states. All amounts offered were accepted, with yields ranging from 7.35% to 8.07% across tenors of 5 to 31 years. This represents standard monetary operations by the RBI for state government borrowing.

RBI Branch Authorisation Amendment Directions 2026 - Consultation

The Reserve Bank of India has issued seven draft Amendment Directions (2026) covering branch authorisation for Commercial Banks, Small Finance Banks, Payments Banks, Local Area Banks, Regional Rural Banks, Urban Co-operative Banks, and Rural Co-operative Banks. The proposals define three types of delivery points (branch, BC-BO, BC-BT), simplify Business Correspondent eligibility criteria, subsume Business Facilitators under the BC model, and standardise BC commission/remuneration structures. Public comments are invited until May 5, 2026.

RBI Cancels Licence of Shirpur Merchants' Co-operative Bank

The Reserve Bank of India cancelled the licence of The Shirpur Merchants' Co-operative Bank Ltd., Shirpur effective April 6, 2026, under Section 22 read with Section 56 of the Banking Regulation Act, 1949. The bank ceases all banking business operations due to inadequate capital, non-compliance with statutory requirements, and inability to protect depositor interests. DICGC has already paid ₹48.95 crore to eligible depositors, with 99.7% of depositors entitled to full coverage up to ₹5 lakh.

RBI extends regulatory directions for Ramgarhia Co-operative Bank Ltd., New Delhi

The Reserve Bank of India has extended the operational period of Directive No. DEL.DOS.EXG_SSM.No.S515/12-10-013/2022-2023 for Ramgarhia Co-operative Bank Ltd., New Delhi for an additional three months from close of business on April 8, 2026 to close of business on July 8, 2026. The extension is issued under Section 35A read with Section 56 of the Banking Regulation Act, 1949. The RBI notes that this extension should not be construed as satisfaction with the bank's financial position.

Auction of Government of India 6.48% GS 2035 - Rs 34,000 Crore

The Reserve Bank of India announced the auction of Government of India dated security 6.48% GS 2035 for a notified amount of Rs 34,000 crore. The auction will be conducted on April 10, 2026 using the multiple price method, with settlement on April 13, 2026. GoI may retain additional subscription up to Rs 2,000 crore.

Money Market Operations Report - April 6, 2026

The Reserve Bank of India published its daily money market operations report for April 6, 2026, presenting statistical data on monetary operations including amounts in ₹ crore and interest rates. The report provides transparency on the central bank's liquidity management activities for the specified date.

RBI imposes monetary penalty on Dr. Panjabrao Deshmukh Urban Cooperative Bank Ltd.

The Reserve Bank of India imposed a monetary penalty of ₹1.09 lakh on Dr. Panjabrao Deshmukh Urban Cooperative Bank Ltd., Amravati, Maharashtra for non-compliance with regulatory directions. The violations include breaching prudential single counterparty exposure limits for non-SLR investments and charging customers above the prescribed regulatory ceiling for NEFT transactions.

RBI extends Baghat Urban Co-operative Bank regulatory directions

The Reserve Bank of India has extended regulatory directions issued to The Baghat Urban Co-operative Bank Limited, Solan for a further three months from close of business on April 8, 2026 to close of business on July 8, 2026. The original directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 were issued on October 6, 2025. The extension is subject to review and does not imply satisfaction with the bank's financial position.

State Government Securities Auction Results - April 7, 2026

The Reserve Bank of India published auction results for State Government Securities dated April 7, 2026. The results detail the outcome of government bond auctions conducted for state governments, showing issuance amounts, yields, and participating institutions. This routine publication provides transparency on public debt operations and state borrowing activities.

NCUA Ninth Round Deregulation Proposals - Field of Membership Eligibility

The National Credit Union Administration announced its ninth round of deregulation proposals under the ongoing Deregulation Project. The proposal targets 12 CFR 701, Appendix B concerning credit union chartering and field of membership eligibility. NCUA seeks to remove the automatic disqualification of associational groups that require purchase of a product or service as a condition of membership, replacing it with a more holistic evaluation approach.

AML/CFT Program Requirements - Joint Notice of Proposed Rulemaking

The FDIC, OCC, and NCUA have issued a joint notice of proposed rulemaking to amend AML/CFT program requirements for supervised banks and credit unions. The proposed amendments would align agency regulations with FinCEN requirements and the Anti-Money Laundering Act of 2020, introducing risk-based program requirements, US-based designated AML/CFT officer requirements, and a new FinCEN consultation framework for supervisory and enforcement actions.

Bridge to the Future - Mobilising Europe's Savings in a Fragmenting World

Gabriel Makhlouf, Governor of the Central Bank of Ireland, delivered a speech at the 2026 Eurofi High Level Seminar highlighting Europe's savings-investment gap. While euro area household deposits approach €10 trillion with savings rates around 15 percent, investment through European capital markets has not kept pace. The EU requires an estimated additional €750-800 billion annually by 2030 to meet investment needs. Makhlouf advocated for deepening the Single Market and strengthening the Savings and Investments Union to channel savings into productive investment.

Climate risk and sustainable finance - bridging policy, research and practice

Bank of Spain Deputy Governor Soledad Núñez delivered remarks at a joint BIS-NGFS conference on climate risk and sustainable finance, discussing how climate change creates physical and transition risks affecting financial stability. The speech highlighted increasing extreme weather events, their localized economic impacts, and the importance of long-term climate action for the financial sector.

An anchor of stability in uncertain times

Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, delivered remarks to the Brandon Chamber of Commerce on March 26, 2026, discussing three major economic forces shaping Canada's economy: global trade policy and US protectionism, demographic shifts, and artificial intelligence. The speech addressed central bank independence and the current affordability concerns of Canadians without announcing new policy measures.

Little Time Left to Wake Up - Can We Reconcile Europe with Speed?

François Villeroy de Galhau, Governor of the Banque de France, delivered his final speech at the Eurofi High Level Seminar, reflecting on European urgency and the need for faster policy delivery. The speech emphasized that Europeans know what needs to be done but must overcome institutional inertia to act with greater speed. Drawing on Stoic philosophy from Cyprus, the birthplace of Zeno, Villeroy called for lucidity about unchangeable circumstances and determination to change what must be addressed.

Central banks must evolve from stability keepers to resilience architects

Bank Negara Malaysia Governor Abdul Rasheed Ghaffour delivered a keynote address at the Central Banking Meetings in Kuala Lumpur on March 31, 2026, arguing that central banks must evolve beyond their traditional role as stability keepers to become architects of resilience. The speech addresses structural shifts confronting economies including geopolitical conflict, trade fragmentation, digital transformation, and climate change, asserting that resilience building is central to central bank mandates rather than an extension of it.

Trump Administration Proposes $204.5 Million CDFI Fund Budget Cut

The Trump administration has proposed eliminating $204.5 million from the Community Development Financial Institutions (CDFI) Fund budget as part of broader federal spending cuts. The proposal would redirect funds away from CDFI programs toward rural development initiatives. The CDFI Fund, administered by the Treasury Department, provides grants and technical assistance to community development financial institutions serving underserved populations.

Banks shift from controls to scam psychology

ABA Banking Journal published an article exploring how financial institutions are evolving their fraud prevention strategies from traditional transactional controls to human-centered approaches that address the psychology of scam victimization. The article discusses emerging frameworks for protecting customers through behavioral insights and empathy-based interventions rather than solely relying on technological barriers.

ABA Commends FCC Forfeiture Against Voxbeam for Spoofed Bank Calls

The American Bankers Association published an article commending the FCC's enforcement action imposing a $9,914,000 forfeiture against Voxbeam for making thousands of spoofed calls that impersonated banks. The FCC found Voxbeam violated the Truth in Caller ID Act by transmitting calls with falsified caller ID information to deceive consumers. The ABA praised this action as an important step in protecting banks and their customers from fraudulent call schemes.

FDIC and OCC Finalize Rule Removing Reputational Risk from Bank Supervision

The FDIC and OCC have finalized a rule eliminating reputational risk as a standalone category from their bank supervision frameworks. The change removes what had been a distinct supervisory consideration related to an institution's public image and community standing. This modification affects how federal banking regulators evaluate and assess bank risk profiles during examinations.

OFAC removes Russian banker Zadornov from sanctions list

The ABA Banking Journal reports that the Treasury Department's Office of Foreign Assets Control (OFAC) has removed Russian banker Mikhail Zadornov from its sanctions list. This delisting action reverses the prior designation of Zadornov, who had been subject to asset freezes and transaction prohibitions under U.S. sanctions authority.

CND Establishes 19-Member Expert Panel for 2029 Global Drug Policy Review

The Commission on Narcotic Drugs (CND) announced the 19 members of its newly established Expert Panel at its sixty-ninth session. The Panel, created under Resolution 68/6, will prepare recommendations for the 2029 global drug policy review aimed at enhancing implementation of international drug control treaties. Allan Rock (Canada) and Natalie Yu-Lin Morris-Sharma (Singapore) were appointed as Co-Chairs of the Panel.

Global Fraud Summit Vienna - 44 Countries Pledge Coordinated Action Against Fraud

UNODC and INTERPOL co-hosted the Global Fraud Summit in Vienna, Austria on March 16-17, 2026, where 44 countries signed a joint statement pledging coordinated action against the rising global threat of fraud. More than 1,300 participants including government officials, law enforcement agencies, tech companies, banks, and civil society organizations attended to identify practical solutions for disrupting fraud networks. According to GASA, losses from organized fraud and scams are estimated at USD 442 billion annually.

65 victims identified, 60 arrests in year-long child sexual abuse operation

UNODC announced the results of Operation Eclipse, an INTERPOL-coordinated operation spanning nine countries across Central America, North America, and the Caribbean. Law enforcement arrested 60 individuals and identified 65 child victims of sexual abuse and exploitation over the year-long period (February 2025–January 2026). UNODC provided training, mentoring, and technical support to investigation and prosecution units in participating countries.

69th CND Session - Journalists Invited to Cover Vienna Meeting

UNODC issued a media advisory inviting journalists to cover the 69th session of the Commission on Narcotic Drugs (CND) scheduled for March 9-13, 2026 in Vienna, Austria. The session will be chaired by Ambassador Andranik Hovhannisyan of Armenia and will bring together Member States, UN entities, inter-governmental organizations, civil society, and the scientific community to address international drug policy. The event will feature 169 side events and 23 exhibitions alongside the plenary sessions.

Waste Trafficking Driving Toxic Pollution and Harming Public Health

UNODC released its 'Waste Crimes and Trafficking' analysis examining five categories of illegal waste trafficking including e-waste, plastics, end-of-life vehicles, and metal-bearing wastes. The report finds that legislative gaps, limited enforcement capacity, lack of traceability, and low penalties enable organized crime groups and corporations to traffic billions of dollars worth of waste annually, causing severe public health and environmental damage, particularly in low-income countries.

2026 Nacha Operating Rules and Guidelines - New Risk Management Focus

NACHA announces the 2026 Nacha Operating Rules and Guidelines, emphasizing a new focus on risk management and credit-push fraud monitoring. The rulebook is available for purchase through the Nacha Store at $75 for members and $110 for non-members. Financial institutions are encouraged to obtain the latest edition to access educational materials and guidance for compliance with the new risk-based approach.

New Nacha Risk Management Rules Compliance Guidance

NACHA published compliance guidance on new ACH Network Risk Management Rules effective in 2026, advising organizations to implement proactive, risk-based processes including annual reviews. The guidance emphasizes that compliance is not a one-time exercise but requires ongoing evaluation against evolving fraud schemes, technological changes, and operational growth.