Philippines

Sustainable Finance

Philippines Signs up to ASEAN Fund Passport Scheme; Green Bond Standards Introduced

By Garima Chitkara | 09/11/2017

ASEAN conference also hears of plans to allow cross-border transfer of capital markets professionals without additional license requirements.

Structural Regulation

Philippines to Ease Forex Rules, Ending Registration System

By Editors | 30/10/2017

Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.

Liquidity Risk

Philippines Eyes Single-digit RRR

By Editors | 25/10/2017

Current 20% RRR is one of the highest in the world; capital market development to focus on fixed income and repo markets.

Structural Regulation

ASEAN Integration Framework on Course for Completion by 2020

By Editors | 19/10/2017

Banking integration framework will allow cross-border operation by lenders from 10 Southeast Asian nations, BSP official confirms.

Cybersecurity

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

By Editors | 04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Credit Risk

Philippine Central Bank Seeks to Capture Property Loan, Project Financing Risks

By Editors | 25/09/2017

Lenders face tighter loan, financing reporting requirements as central bank says it will target ‘areas which require supervisory action’.

Cloud & Infrastructure

ASEAN Fintechs, Banks Set up Pan-regional Sandbox to Boost Financial Inclusion

By Samuel Riding | 21/09/2017

Sandbox board includes ASEAN Bankers Association, Monetary Authority of Singapore and is being advised by Intel, Microsoft Asia Pacific and IBM Philippines.

Anti-Money Laundering

Philippines Banker Indicted for Bangladesh Heist Role

By Editors | 11/09/2017

Banker accused of facilitating transfer of $14mn into fake accounts, transferring money to a single account without following KYC procedures.

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.