Philippines

Supervision & Enforcement

Philippine Central Bank Strengthens Compliance Standards

By Editors | 28/08/2017

Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.

Cybersecurity

Philippines Central Bank to Embrace Regtech

By Samuel Riding | 21/08/2017

Regtech to include API for FIs’ reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.

Anti-Money Laundering

Philippines Removed from AML/CTF Blacklist

By Samuel Riding | 16/08/2017

Asia / Pacific Group also removes Pakistan, Taiwan and Vietnam from list of closely monitored countries after improvements in AML/CTF regimes.

Payments & Settlements

Thai Bank Governor Calls for Greater Financial Connectivity Across Region

By Garima Chitkara | 10/08/2017

Central bank governor made comments during the opening ceremony of the Asian Financial Cooperation Association.

Liquidity Risk

New BSP Chief Eyes Cut to One of World’s Highest RRRs

By Editors | 06/07/2017

Philippine banks currently have to keep 20% in reserve; liquidity requirements were eased earlier this year.

Anti-Money Laundering

Southeast Asia Roundup

By Editors | 29/06/2017

The Philippine government passed amendments to the country’s AML (anti-money laundering) law, bringing casinos under it’s rules for the first […]

KYC & CDD

KYC Roundup – India Confirms Mandatory ‘Aadhar’ Use

By Editors | 19/06/2017

India makes use of Aadhar cards compulsory for opening bank accounts, large transactions The Indian government last week confirmed that […]

Emerging Prudential Risks

RBA, BNM Governors to Head FSB’s Asia Consultative Group

By Editors | 12/06/2017

RBA (Reserve Bank of Australia) governor Philip Lowe will from 1 July this year replace Norman Chan, chief executive of […]

Reporting & Disclosures

BSP, World Bank Unit Ink Agreement on Bank ESG

By Samuel Riding | 31/05/2017

Banking regulator, International Finance Corporation to develop new governance and risk management assessment tools.