Philippines

Trading & Investment

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 Adequacy

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.

Market Risk

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.

Tokenisation

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.

Cryptocurrency

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.

Sustainable Finance

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.

Payments & Settlements

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.

Conduct, Culture & Accountability

Philippines Passes Law to Enhance Financial Consumer Protections

By Sanday Chongo Kabange | 19/05/2022

The law grants regulators enhanced powers to address fraud and consumer complaints in a more timely manner.

Capital Adequacy

BSP Issues Guidelines on Strengthening Rural Bank Competitiveness

By Editors | 11/05/2022

The guidelines set out options to strengthen the rural banking sector, including through mergers, acquisitions or third party investment.