Philippines

Capital / Liquidity

Philippine Senate Considers Bills to Enhance Deposit Insurance

By Ranamita Chakraborty | 28/03/2021

The Senate is considering a bill to double the maximum deposit insurance limit to PHP 1 million per depositor.

Fintech / Regtech

BSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox

By Editors | 23/03/2021

A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.

Securities / Derivatives

PSE Proposes Tighter Rules for Listings via Reverse Takeover

By Editors | 17/03/2021

Companies will be required to conduct a public offering of at least 10 percent of their shares within one year from closing a transaction that results in a backdoor listing.

Securities / Derivatives

PSE Proposes Alternative Listing Option for Businesses

By Sanday Chongo Kabange | 17/03/2021

The new rule will allow businesses to raise funds on the exchange by listing their preferred shares without listing their common shares.

Fintech / Regtech

Philippine SEC Launches New Online Payments System

By Editors | 13/03/2021

The ‘SEC Payment Portal’ allows for the payment of registration fees, penalties and other fees using  other cashless payment options.

BSP Advocates Passage of New Consumer Protection Law

By Ranamita Chakraborty | 09/03/2021

The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.

Big Picture

PwC Offers ESG Risk Management Recommendations for Banks

By Manesh Samtani | 09/03/2021

Banks need to adopt training and change management programmes to ensure employees embrace ESG risk management as a requirement and discipline.

Capital / Liquidity

BSP Issues Draft Guidelines on New ‘Bad Bank’ Law

By Ranamita Chakraborty | 09/03/2021

Banks can stagger the booking of losses from the discounted sale of NPAs to FIST corporations over five years, provided proper disclosures are made.

BSP Relaxes Reporting Requirements for Financial Institutions

By Editors | 07/03/2021

The BSP is reducing reporting requirements related to the borrowings of directors, officers, stockholders and their related interests.