BANGKO SENTRAL NG PILIPINAS

Big Picture

BSP Report Highlights Systemic Risk from Optimism Bias

By Mark Johnston | 26/02/2024

The central bank warns of systemic risks from optimistic market expectations in its 2023 Financial Stability Report.

ESG / Sustainability

BSP Approves Adoption of Sustainable Finance Taxonomy for Banks

By Mark Johnston | 23/02/2024

The first version of the taxonomy focuses on climate change mitigation and climate change adaptation. Future iterations will cover biodiversity and circular economy.

Market Infrastructure

Philippines: BSP, PDIC Enhance Cooperative Arrangements

By Sanday Chongo Kabange | 23/02/2024

Banks will no longer need to submit some prudential reports separately to the PDIC, the BSP said.

Fintech / Regtech

BSP Approves GCash Expansion Services to Overseas Filipinos

By Mark Johnston | 22/02/2024

Filipinos in 16 countries can now send money, pay bills and buy load using the GCash app.

BSP to Ease FX Market Access for Nonresident Investors

By Mark Johnston | 21/02/2024

The BSP will remove the need for foreign investors to submit a registration document to access FX from the domestic banking system.

BSP, Deutsche Bundesbank Sign MOU on Capacity Building

By Mark Johnston | 19/02/2024

Philippines’ BSP and Germany’s Bundesbank signed an MOU to enhance capacity-building efforts through tailored training and advisory services.

Capital / Liquidity

Philippines Mulls Increase to Deposit Insurance Limit – Report

By Editors | 16/02/2024

The PDIC will consult the BSP on whether an increase in the deposit insurance limit would have to be introduced alongside measures to mitigate moral hazard risks.

Crypto / Digital Assets

Philippines Plans to Launch Wholesale CBDC Within Two years

By Nithya Subramanian | 13/02/2024

BSP Governor Eli Remolona said the CBDC will operate on the central bank’s payment and settlement system and not use blockchain or DLT.

Market Infrastructure

BSP Offers Incentives for Early Use of New Standard Loan Form

By Sanday Chongo Kabange | 16/01/2024

Lenders that adopt the new loan application form ahead of mandatory adoption will receive a reduction in the annual supervisory fee for 2024 and 2025.