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Fintech / Regtech
BSP to Close Application Window for Digital Banks
By Editors | 23/08/2021
The application window will be closed for three years. Applications received by 31 August will be processed on a first-come, first-served basis.
Market Infrastructure
BSP Designates RTGS System as Systemically Important
By Ranamita Chakraborty | 23/08/2021
The BSP was granted authority to designate systemically important payment systems under the National Payment Systems Act, which was signed into law in 2018.
ESG / Sustainability
Thailand: Regulators Set Out Sustainable Finance Initiatives
By Editors | 22/08/2021
The strategic initiatives include the development of a sustainable finance taxonomy, the ESG data environment, and sustainable finance products.
Capital / Liquidity
OJK Indonesia Introduces Digital Banking Framework
By Editors | 22/08/2021
Digital banks should have a minimum paid-up capital of IDR 10 trillion (USD 694 million). However, the capital deposit required at the time of application is IDR 3 trillion.
Capital / Liquidity
Bangladesh Bank Raises Leverage Ratio Requirement
By Editors | 22/08/2021
A higher leverage ratio will help banks reduce import costs, increase quality capital, and enhance their ability of banks to absorb riskes, Bangladesh Bank said.
Market Infrastructure
BSP Relaxes Rules on FX Trade Approval for Banks
By Editors | 22/08/2021
Banks can sell FX without prior BSP approval if they will be used for activities such as online e-commerce payments, certain imports of goods, and fee payments.
Securities / Derivatives
Philippine SEC Issues Final Guidelines for ASEAN CIS Framework
By Editors | 22/08/2021
In May, the Philippines became the fourth signatory to the ASEAN CIS Framework for cross-border funds after Malaysia, Singapore and Thailand.
Fintech / Regtech
BSP Grants Digital Bank Licence to Gokongwei-Tyme Joint Venture
By Editors | 20/08/2021
The application window for the submission of applications from new digital banks, including converting banks, will close on 31 August 2021.
AML / KYC
Philippine President to Prioritise Bill to Ease Bank Secrecy Rules
By Manesh Samtani | 20/08/2021
The BSP welcomed the move, saying the bill will provide the central bank tools to investigate illegal activity and improve the safety of the banking system.
Capital / Liquidity
BOT to Increase Flexibility of Pillar 2 Rules for Banks
By Pongnut Thanaboonchai | 18/08/2021
The changes will account for new types of risk as well as ESG principles, which help to frame sustainable lending practices and risk management culture.
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