Philippines

Sustainable Finance

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.

Market Risk

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.

Payments & Settlements

Philippines Caps Charges Allowed on Small Value Loans

By Editors | 09/01/2022

The caps apply to the charges imposed on borrowers of small-value loans by lending firms, financing companies and online lending platforms.

Anti-Money Laundering

BSP Directs Banks to Help Curb Vote-Buying Ahead of National Election

By Editors | 05/01/2022

Banks should “at a minimum” consider four scenarios when calibrating their fraud management systems and account and transaction monitoring rules/parameters.

Fraud, Scams & Cybercrime

Philippine DOJ Signs MoU with BAP on Cybercrime Prevention

By Mark Johnston | 03/01/2022

The MoU aims to formalise the establishment of a collective, coordinated, and strategic cyber response within the banking industry.

Credit Risk

BSP to Enhance Bank Reporting of Credit, Equity Exposures

By Editors | 31/12/2021

Banks will pilot test the new submissions from February until May 2022, using data from the 30 June 2021 reporting period.

Fraud, Scams & Cybercrime

BSP Identifies Other Banks, Non-banks Involved in BDO Hack

By Editors | 23/12/2021

A BSP task force will submit recommendations to the Monetary Board by mid-January 2022, which may include sanctions and penalties for the involved banks.

Trading & Investment

ISDA Publishes New Set of Fallbacks for IBOR Derivatives

By Manesh Samtani | 17/12/2021

The new fallbacks cover IBORs in India (MIFOR), Malaysia (KLIBOR), New Zealand (BKBM), Norway (NIBOR), the Philippines (PHIREF) and Sweden (STIBOR).

Fraud, Scams & Cybercrime

BSP to Ensure Hacked BDO Accounts Are Reimbursed

By Mark Johnston | 15/12/2021

Some 700 customers of BDO Unibank have suffered losses due to a hack. The BSP said it will ensure remedial measures are undertaken.