Philippines

Credit Risk

BSP Proposes to Impose Cap on Credit Card Finance Charges

By Editors | 31/08/2020

The BSP says it is looking to impose a maximum finance charge equivalent to an effective annual interest rate of 24 percent for credit card cash advances and installment purchases.

Trading & Investment

Philippines Issues Rules on New Investment Vehicle for Corporate Debt

By Editors | 26/08/2020

Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.

Credit Risk

BSP Relaxes Real Estate Lending Limits for Banks

By Editors | 21/08/2020

The higher limit will encourage bank lending to households for the acquisition or construction of a residential real estate property the BSP said.

AI Risk & Governance

BSP Takes Consumer Complaints Chatbot Live

By Sanday Chongo Kabange | 20/08/2020

The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.

Liquidity Risk

Asian Central Banks Fear Return of USD Funding Stress

By Editors | 19/08/2020

Trade frictions, a resurgence of Covid-19 infection rates, and rising corporate insolvency and credit rating downgrades could prompt renewed US dollar funding stress, says a new report.

Trading & Investment

SGX Announces Upcoming Launch of 13 New Equity Futures Contracts

By Editors | 11/08/2020

The new futures contracts are based on net total return and price return indices calculated by FTSE Russell, covering regional as well as single country benchmarks.

Credit Risk

BSP Expects Sound Borrower Assessments, Forbearance Reporting

By Editors | 10/08/2020

Requirements to report forbearance granted to borrowers will ensure industry statistics reflect the “true health of the banking system” and incentivise prudence in banks’ credit decisions.

Fraud, Scams & Cybercrime

Singapore Authorities Issue First Charges in Wirecard Probe

By Editors | 08/08/2020

A director of Citadelle Corporate Services is said to have “wilfully and with intent to defraud” stated false balances held in escrow on behalf of Wirecard in 2016 and 2017.

Trading & Investment

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.