Bangko Sentral ng Pilipinas

Market Infrastructure

BSP Issues New Operational Resilience Requirements for FIs  

By Sanday Chongo Kabange | 07/11/2024

Larger FIs have two years to develop and integrate operational resilience frameworks into their governance structures and risk management processes.

ESG / Sustainability

BSP Invites Indonesia, Malaysia to Explore Philippine Islamic Finance Sector

By Sanday Chongo Kabange | 07/11/2024

The BSP has been engaging with FIs in Indonesia and Malaysia about exploring opportunities in the Philippines Islamic finance sector.

Fintech / Regtech

New Project Nexus Entity to be Established in Singapore

By Editors | 07/11/2024

The new management entity will oversee the live implementation of the Nexus operational model, which involves linking instant payment systems.

Crypto / Digital Assets

BSP Grants Virtual Assets Authorisation to GoTyme Bank

By Sanday Chongo Kabange | 30/10/2024

GoTyme is only the second bank to be given authorisation to explore the potential introduction of digital asset services for customers.

BSP Partners German State Firm on Currency Management

By Sanday Chongo Kabange | 29/10/2024

The BSP said it will work with Bundesdruckerei GmbH on currency management and digital payments infrastructure.

AML / KYC

BSP Enters Arbitration Over Philsys Card Printing Delays

By Mark Johnston | 29/09/2024

The proceedings were initiated by AllCard Inc, which was contracted to supply cards and equipment for the production of PhilSys cards.

BSP Revises Framework for External Auditor Selection by FIs

By Editors | 26/09/2024

The BSP has proposed draft revisions to its framework for financial institutions on the selection and appointment of external auditors.

Capital / Liquidity

BSP Announces Significant Cut to Bank Reserve Requirements

By Editors | 24/09/2024

The BSP cut the RRR for universal and commercial banks by 250 basis points, bringing it from 9.5 percent to 7 percent.

Capital / Liquidity

BSP to Cut Bank Bank Reserve Requirements in ‘Substantial’ Way

By Editors | 20/09/2024

Banks in the Philippines have offered to lower transaction costs on small-value fund transfers in exchange for lower reserve requirements.