Bangko Sentral ng Pilipinas

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    Fintech / Regtech

    BSP Retains Moratorium on InstaPay and PESONet Fee Increases

    By Sanday Chongo Kabange | 20/12/2023

    The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.

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    ESG / Sustainability

    BSP Approves New Incentives to Promote Sustainable Finance

    By Sanday Chongo Kabange | 19/12/2023

    The measures include extra lending capability and a reduced reserve requirement rate on sustainable bonds issued by banks.

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    Fintech / Regtech

    BSP Extends Moratorium on New E-Money Licences

    By Sanday Chongo Kabange | 13/12/2023

    The BSP has extended its moratorium on applications for new non-bank e-money issuers until 15 December 2024.

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    Securities / Derivatives

    Philippines: Trust Entities Allows to Access Primary Market for BSP Securities

    By Mark Johnston | 01/12/2023

    Trust entities have so far only been able to trade BSP securities in the secondary market. The change will help expand the investor base and market liquidity.

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    Capital / Liquidity

    BSP Approves Rules for New Intraday Settlement Facility

    By Editors | 13/11/2023

    The facility will allow eligible participants to borrow funds from the BSP to ensure timely execution of RTGS settlements.

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    Crypto / Digital Assets

    UnionBank Becomes First Philippine Bank to Obtain VASP Licence

    By Editors | 31/10/2023

    The bank said it will use the new licence to expand its offerings and provide clients a broader range of financial services powered by blockchain.

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    Fintech / Regtech

    BSP Set to Launch Pilot Testing for New ITRS

    By Sanday Chongo Kabange | 27/10/2023

    The BSP has started sending banks XML schema definitions for its new International Transactions Reporting System.

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    AML / KYC

    BSP Highlights Importance of PEPs Due Diligence

    By Sanday Chongo Kabange | 11/10/2023

    Domestic and international organisation PEPs, unlike foreign PEPs, are not automatically considered as high risk.

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    Big Picture

    The Philippines Banks on Cloud Adoption for Operational Resilience

    By Ranamita Chakraborty | 11/10/2023

    BSP’s Jovelyn Hao shares at a conference how the Philippine central bank sees cloud adoption as an enabler for banks’ operational resilience.

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    AML / KYC

    Philippine SEC Stresses Need for CDD on DNFBP Clients

    By Sanday Chongo Kabange | 26/09/2023

    Regulated firms that don’t identify and verify the true identity of DNFBP clients and their beneficial owners may face enforcement action.

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