Regulators, and those they regulate, simply weren’t ready to implement variation margin requirements.
BSP urges banks to assess readiness to comply, evaluate impact on operational risk.
Bond market, futures exchange already support T+2, T+1 settlement.
New guidelines aim to regulate digital currencies used in financial services delivery to curb AML, CTF.
Amando Tetangco has served for 12 years; 3 monetary board members to also step down.
Resignation follows last year’s harsh criticism from president Duterte.
New cybersecurity system aims to avoid ‘unwanted incidents’ in overseas payments.
Fitch Ratings suggests full integration a ‘very distant goal’.
New rules limit cash transactions, require compliance with Anti-Money Laundering Act provisions.
Banks will be allowed to use off-site agents, including at convenience stores, to provide withdrawals, conduct KYC.
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