Philippines

Capital / Liquidity

BSP Extends Prudential Loan Cap Transition Period for Foreign Banks

By Editors | 14/02/2020

The extended transitory period is aimed at ensure continued financing support for public sector initiatives under the ‘Build, Build, Build’ programme by foreign bank branches.

Securities / Derivatives

BSP Bars Bank Affiliates from Holding Bank-Issued Debt

By Editors | 12/02/2020

The prohibition is aimed at preventing related parties from obtaining undue advantage when transacting in debt instruments issued by affiliated banks.

Capital / Liquidity

Sea and Grab-Singtel “Leading Singapore Digital Bank Race”

By CorporateTreasurer | 12/02/2020

S&P Global Market Intelligence believes digital banking contenders Sea and the Grab-Singtel consortium are the most likely to gain coveted digital bank licences in Singapore.

Fintech / Regtech

Philippines, Indonesia Sign MOU on Payments, Digital Innovation

By Editors | 04/02/2020

The MOU aims to provide a framework for closer cooperation between the Philippine and Indonesian central banks to achieve enhance their payment systems and promote digital financial innovation.

AML / KYC

US Law Firms Launch New Class Actions Against Westpac

By Editors | 04/02/2020

The class actions seek damages for investors who lost money on Westpac ADRs following the civil penalty orders filed against the bank by AUSTRAC last November.

Capital / Liquidity

BSP Proposes New Reporting Requirements for Conglomerate-run Banks

By Editors | 03/02/2020

Under draft rules, universal and commercial banks that are part of conglomerates will have to report information on all entities and assets in the conglomerate structure.

Market Infrastructure

HK, Korea, Philippines to Undergo IMF Assessment in 2020

By Editors | 31/01/2020

While Hong Kong and Korea are scheduled to undergo the assessment, as required every five years, the Philippines has voluntarily requested its assessment.

Securities / Derivatives

SEC Philippines Drafts Derivatives Investment Rules for Funds

By Editors | 29/01/2020

The global exposure to financial derivatives must not exceed 20% of the qualifying fund’s net assets, up from 10% previously.

Securities / Derivatives

Philippine Regulators Ease REITs Rules with New Framework

By Editors | 21/01/2020

The new rules remove stringent tax and minimum public ownership requirements under a 2009 law that prevented the rise of REITs in the Philippine capital market.