Philippines

Fintech / Regtech

BSP Grants Direct PhilPaSSplus Access to First Nonbank EMI

By Sanday Chongo Kabange | 12/01/2024

OmniPay’s direct access to PhilPaSSplus allows it to make efficient and low-risk funds transfers using central bank rails.

Fintech / Regtech

BSP Proceeds With Soft Launch of New ITRS System

By Editors | 09/01/2024

The soft launch of the new International Transaction Reporting System commenced as planned on 8 January. Full implementation is deferred from April to June.

Securities / Derivatives

Philippine Regulators Pledge to Deepen Bond Market

By Sanday Chongo Kabange | 09/01/2024

The objective is to increase the diversity of corporate borrowers that issue bonds and to make risk pricing more active.

Capital / Liquidity

BSP Amends Cheque Clearing Policy, Reintroduces Funding Facility

By Sanday Chongo Kabange | 06/01/2024

The reforms are aimed at enhancing the efficiency and safety of the Philippine payments system.

Market Infrastructure

Philippine Bourse Outlines Plans to Boost Market Liquidity

By Sanday Chongo Kabange | 05/01/2024

The PSE plans to lower the minimum board lot size, allow algorithmic trading, and introduce depositary receipts.

AML / KYC

Philippines Directs DNFBPs to Tighten Suspicious Transaction Reporting

By Sanday Chongo Kabange | 02/01/2024

Amended AMLC guidelines say no administrative, criminal or civil proceedings shall lie against any person for filing CTRs or STRs in good faith.

AML / KYC

Philippines Tightens Travel Rule Requirements for Crypto

By Editors | 01/01/2024

VASPs are expected to obtain, verify, and hold originator and beneficiary information for transactions with unhosted wallets regardless of the amount involved.

Fintech / Regtech

BSP Retains Moratorium on InstaPay and PESONet Fee Increases

By Sanday Chongo Kabange | 20/12/2023

The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.

ESG / Sustainability

BSP Approves New Incentives to Promote Sustainable Finance

By Sanday Chongo Kabange | 19/12/2023

The measures include extra lending capability and a reduced reserve requirement rate on sustainable bonds issued by banks.