Bangko Sentral ng Pilipinas

Securities / Derivatives

Philippine SEC Issues Consumer Protection Rules for Consultation

By Editors | 31/01/2023

The rules will implement the requirements of the Financial Products and Services Consumer Protection Act, which passed in May last year.

BSP Raises Interest Rate Caps for Credit Card Issuers

By Editors | 27/01/2023

The BSP says the higher caps will cushion the impact of inflationary pressure and interest rate hikes on banks and credit card issuers.

Crypto / Digital Assets

BSP’s CBDC Testing to Continue in Sandbox Until 2024

By Editors | 19/01/2023

The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

Capital / Liquidity

BSP Amends Rules on Single Borrower Limit to Boost Lending

By Editors | 09/01/2023

Banks won’t need approval to exclude credit exposures from the SBL if they are covered by credit risk transfer arrangements such as guarantees or credit derivatives.

AML / KYC

BSP Sets Out New Rules for Reporting Financial Crime Risk Events

By Editors | 06/01/2023

Banks and NBFIs will have to notify the BSP within 24 hours after they become aware of any significant money laundering, terrorism financing, or proliferation financing risk event.

AML / KYC

Philippines Launches Cyber Safety Campaign for Financial Customers

By Editors | 05/01/2023

The BSP and banking industry associations launched a new campaign to improve to cyber hygiene among financial customers.

ESG / Sustainability

BSP Unveils 11-Point Sustainable Central Banking Strategy

By Editors | 28/12/2022

The Sustainable Central Banking strategy sets out the BSP’s approach to promoting sustainability in the financial system.

Market Infrastructure

BSP Issues Rules for Participants of RTGS Payment System

By Editors | 28/12/2022

Non-bank e-money issuers and other entities can become direct participants of the RTGS payment system without being sponsored by existing participants.

Securities / Derivatives

Philippine Lawmakers Advance Bill to Establish Sovereign Fund

By Editors | 18/12/2022

Critics say the bill’s timing is poor due to the country’s lack of surplus funds, high national debt, large trade deficit, and other economic problems.