Philippines

ESG / Sustainability

Philippines to Adopt ASEAN SRFS, Issue Blue Bond Framework

By Editors | 15/03/2023

The SEC will adopt the ASEAN Sustainable and Responsible Fund Standards and separately release a new blue bond framework by Q2.

BSP Seeking to Eliminate Fees for Small Value Transactions

By Editors | 06/03/2023

The BSP is considering lowering the RRR in exchange for banks waiving their fees on small transactions, as part of efforts to promote financial inclusion.

Fintech / Regtech

BSP Finalises New Requirements for E-money Issuers

By Sanday Chongo Kabange | 14/02/2023

Amended regulations require e-money issuers to meet higher liquidity and capital requirements, to ensure the industry’s resilience.

ESG / Sustainability

SEC Philippines Drafts Guidance on Sustainability-linked Bonds

By Editors | 06/02/2023

Under the guidelines, the issuer must be an ASEAN Issuer or a non-ASEAN issuer with KPIs linked to an ASEAN member country.

Fintech / Regtech

BSP Invites Firms to Participate in Open Finance Rule-Making

By Sanday Chongo Kabange | 02/02/2023

Financial institutions and fintech firms are invited to participate in the development of rules and standards for the Philippine Open Finance Pilot.

Securities / Derivatives

Philippine SEC Issues Consumer Protection Rules for Consultation

By Editors | 31/01/2023

The rules will implement the requirements of the Financial Products and Services Consumer Protection Act, which passed in May last year.

BSP Raises Interest Rate Caps for Credit Card Issuers

By Editors | 27/01/2023

The BSP says the higher caps will cushion the impact of inflationary pressure and interest rate hikes on banks and credit card issuers.

Crypto / Digital Assets

BSP’s CBDC Testing to Continue in Sandbox Until 2024

By Editors | 19/01/2023

The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

ESG / Sustainability

Philippine SEC Finalises Rules for SRI Funds

By Sanday Chongo Kabange | 10/01/2023

SRI Funds will have to allocate at least two-thirds of their NAV to their sustainable investment objective.