Philippines

Market Infrastructure

Philippines Launches New Framework for Managing Crises

By Editors | 15/06/2022

The SRCM framework sets out how the FSCC should intervene in the event of a potential systemic risk that could negatively affect the macroeconomy.

AML / KYC

IMF Calls on Philippines to Enhance AML Supervision

By Sanday Chongo Kabange | 14/06/2022

Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.

Securities / Derivatives

Philippine Bourse to Permanently Close Trading Floor

By Editors | 13/06/2022

The pandemic has prompted brokers to conduct their trading activities off-site and hastened the PSE’s migration to ‘floorless trading’.

Capital / Liquidity

New Capital Rules May Force Philippine Rural Banks to Close

By Editors | 08/06/2022

RBAP president Albert Concha says higher capital requirements proposed by BSP will cause rural bank closures and stunt financial inclusion initiatives.

Securities / Derivatives

Philippine: DOF to Have Oversight of FX Trades by Govt Entities

By Editors | 04/06/2022

The Department of Finance is directed through a presidential order to provide oversight of FX derivatives activities of non-bank government entities.

Crypto / Digital Assets

UnionBank Issues Philippines’ First DLT-based Digital Bond

By Editors | 02/06/2022

The issuance follows a POC project to optimise bond issuance workflows between STACS and PDTC, the Philippines’ national CSD for debt and equities.

Crypto / Digital Assets

Crypto Ads to be Screened in the Philippines from 7 July

By Editors | 29/05/2022

Firms advertising crypto services to Philippine users will have to provide proof they have registered with the SEC as companies and with BSP as remittance and transfer providers.

ESG / Sustainability

BSP Consults on Sustainable Investment Guidelines for Banks

By Editors | 27/05/2022

The guidelines offer three recommended approaches to help banks assess the sustainability of their prospective investments.

Market Infrastructure

BSP Issues Draft Operating Rules for RTGS Payment System

By Sanday Chongo Kabange | 26/05/2022

The RTGS system shall be operated, managed and maintained by the BSP given its recent designation as a systemically important payment system.