Philippines

ESG / Sustainability

BSP Implementing “RING” Approach to Protect Financial System

By Editors | 27/01/2022

“RING” stands for Risk management guidelines, Integrity, New technologies, and Governance standards, said BSP governor Benjamin Diokno

Capital / Liquidity

Philippine SEC Reveals Establishment of Five ‘Bad Bank’ Entities

By Mark Johnston | 27/01/2022

Known as FISTCs, the five institutions are tasked with purchasing bad loans and NPAs from lenders accumulated during the pandemic.

Market Infrastructure

BSP Introduces Multiple Batch Settlement to PESONet

By Ranamita Chakraborty | 26/01/2022

The change increases PESONet’s daily batch settlement to two cycles, enabling better risk management for FIs and greater convenience for customers.

ESG / Sustainability

Philippine SEC Issues Draft Rules for SRI Funds

By Mark Johnston | 25/01/2022

To qualify as an SRI fund, an investment company must have at least 70 percent of its NAV allotted to ESG investments.

Enforcement

BSP Calls for Passage of New Financial Consumer Protection Act

By Mark Johnston | 24/01/2022

The Act establishes stronger protection standards for consumers, promotes transparent and responsible pricing, and give regulators more teeth.

Fintech / Regtech

BSP to Enhance Policy Formulation Through Big Data

By Editors | 19/01/2022

The BSP has partnered with the University of the Philippines to develop a News Sentiment Index, which will lead to more targeted policy formulation.

Capital / Liquidity

BSP Evaluates Sustainable Finance Incentives for Banks

By Mark Johnston | 18/01/2022

The BSP is considering using preferential rediscount rates and providing high value loans to help banks finance green loans and sustainable investments.

ESG / Sustainability

Philippine Govt Launches Sustainable Finance Framework

By Mark Johnston | 17/01/2022

The framework sets out a roadmap on how the government intends to raise green, social and sustainability bonds, loans, and other debt instruments in international capital markets.

BSP Allows More FIs to Engage in FX Transactions

By Editors | 11/01/2022

The amendments allow Islamic banks and digital banks to engage in FX transactions and streamline licensing requirements for banks.