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Securities / Derivatives
BSP Amends Rules for Unit Investment Trust Funds
By Editors | 17/09/2022
Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.
Fintech / Regtech
BSP Approves Introduction of Regulatory Sandbox Framework
By Editors | 13/09/2022
The regulatory sandbox framework will enable the BSP to balance the perceived benefits of emerging technologies against the need to manage their risks.
AML / KYC
BSP Issues New Guidance on TFS Implementation
By Sanday Chongo Kabange | 09/09/2022
The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.
Capital / Liquidity
BSP Raises Minimum Capital Requirement for Rural Banks
By Sanday Chongo Kabange | 06/09/2022
The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.
Capital / Liquidity
Philippines to Assess Financial Conglomerate Risks in October
By Editors | 06/09/2022
The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
AML / KYC
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
Capital / Liquidity
BSP Approves Guidelines on Large Exposures Monitoring
By Editors | 31/08/2022
The guidelines set out the criteria banks should use to assess economic interdependence between connected counterparties, among other requirements.
Crypto / Digital Assets
UnionBank Becomes First Philippine Bank to Enable Crypto Trading
By Editors | 30/08/2022
UnionBank has also been exploring other uses of blockchain technology, as it seeks to future-proof its business and expand its metaverse footprint.
ESG / Sustainability
BSP Issues Sustainable Investment Guidelines for Banks
By Sanday Chongo Kabange | 29/08/2022
Banks whose investments are exposed to material environmental and social risks should adopt appropriate tools and metrics to assess, measure, and monitor these risks.
AML / KYC
BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law
By Editors | 27/08/2022
BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.
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