Philippines

    ESG / Sustainability

    BSP Directs Banks to Integrate Environmental, Social Risks

    By Editors | 31/10/2021

    Banks have to integrate environmental and social risk in their risk management frameworks and when defining their credit strategy.

    Capital / Liquidity

    BOT Relaxes Mortgage Lending Rules to Boost Property Market

    By Editors | 28/10/2021

    The BOT is allowing LTV ratios of up to 110 percent, including top-up loans for home decoration, for first homes priced below THB 10 million.

    AML / KYC

    FATF Keeps Pakistan on Grey List with 4 Action Items Outstanding

    By Editors | 21/10/2021

    Marcus Pleyer said “there is no discussion on blacklisting Pakistan” as its government has demonstrated a “clear commitment” and is cooperating with the FATF.

    Crypto / Digital Assets

    Sri Lanka to Develop Regulatory Framework for Cryptocurrency

    By Sanday Chongo Kabange | 15/10/2021

    The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.

    Fintech / Regtech

    BSP Migrates to API-Based Regulatory Reporting

    By Sanday Chongo Kabange | 14/10/2021

    Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.

    BSP Raises Loan Limits to Bolster Project Finance

    By Editors | 11/10/2021

    The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.

    Capital / Liquidity

    BSP Proposes Prudential Requirements for Digital Banks

    By Editors | 11/10/2021

    The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.

    Market Infrastructure

    BSP Urges Passage of Bill to Tackle Rising Cybercrime

    By Ranamita Chakraborty | 05/10/2021

    The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.

    AML / KYC

    BSP Updates e-KYC Guidelines for Financial Institutions

    By Ranamita Chakraborty | 03/10/2021

    The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.

    Securities / Derivatives

    ASEAN Exchanges to Identify Common ESG Metrics

    By Pongnut Thanaboonchai | 26/09/2021

    Seven ASEAN exchanges have formed a new ESG working group to start work towards a ‘common sustainability programme’.

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