Philippines

Supervision & Enforcement

Philippines to Enhance Supervision of Financial Conglomerates

By Editors | 04/02/2022

The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.

Conduct, Culture & Accountability

Philippines Passes New Financial Consumer Protection Act

By Editors | 02/02/2022

The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.

Cloud & Infrastructure

BSP Launches Open Finance Roadmap, Financial Inclusion Strategy

By Editors | 02/02/2022

The open finance roadmap paves the way for greater collaboration and data sharing between FIs and fintechs, which will help boost financial inclusion.

Operational Risk

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

Credit Risk

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.

Payments & Settlements

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.

Sustainable Finance

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.

Conduct, Culture & Accountability

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.

AI Risk & Governance

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.