Philippines

ESG / Sustainability

BSP Calls on Banks to Disclose ESG Impact of Assets

By Editors | 14/07/2023

The BSP is collaborating with scientists to develop a metric that will be used to score banks on their efforts to fight climate change.

Market Infrastructure

BSP Issues Draft Guidelines on Operational Resilience

By Mark Johnston | 14/07/2023

Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

BSP Issues New Rules on Bank Stockholders’ Fitness and Propriety

By Mark Johnston | 13/07/2023

The draft circular sets out the criteria and approval process for bank stockholders, aiming to ensure their fitness and propriety.

AML / KYC

Philippine Government Agencies, Departments Ordered to Adopt New AML Strategy

By Ranamita Chakraborty | 07/07/2023

The Philippines is looking to remove itself from the Financial Action Task Force’s “grey list” by improving its efforts in anti-money laundering, counter-terrorism financing, and counter-proliferation.

Market Infrastructure

BSP Starts Publishing Temporary Replacement Rate for LIBOR

By Editors | 06/07/2023

The new reference rate is generated by translating the 28-day BSP bill rate to its overnight equivalent.

ESG / Sustainability

The Philippines Publishes Inaugural Sustainability Report

By Ranamita Chakraborty | 03/07/2023

The Philippines’ central bank has plans to develop a taxonomy and provide regulatory incentives to encourage financing for sustainable investments.

Capital / Liquidity

BSP Ends Covid Relief Measure on Reserve Requirements

By Sanday Chongo Kabange | 02/07/2023

Banks can no longer count loans granted to MSMEs and large enterprises towards their compliance with reserve requirements.

Securities / Derivatives

Philippines Launches Dollar-Peso Cross Currency Swap Market

By Editors | 28/06/2023

Dollar-peso cross currency swaps involve a Philippines peso fixed rate and a SOFR-based US dollar floating swap.

Crypto / Digital Assets

BSP Urged to Take Action Against Unregistered Crypto Exchanges

By Mark Johnston | 26/06/2023

Infrawatch PH says exhibiting leniency toward unregistered crypto exchanges risks the Philippines remaining on the FATF gray list.