Lenders are only allowed to invest up to 5% of paid-up capital, 25% of overall capital.
Central banks will cooperate on financial supervision, exchange information.
ASIC urged to work with government to help cut regulatory costs, relax requirements.
Report suggests some APAC banking systems might face deteriorating asset quality, profitability.
Move aims to encourage savings, ease economic policy decisions as rate spreads widen.
Amando Tetangco has served for 12 years; 3 monetary board members to also step down.
Ratings firm says reductions in household and unsecured personal loans, credit cards improve banks’ asset quality.
Banks blame country’s lack of a credit information system for hindering SME lending.
But ratings agency notes pivot towards rest of APAC EM might pressure loan quality.
Banks say new administration’s order could cut regulatory costs or tighten rules for foreign banks.