Bangko Sentral ng Pilipinas

Structural Regulation

BSP Engages Saudi Arabia in Push to Develop Islamic Banking Sector

By Sanday Chongo Kabange | 08/09/2023

The BSP has asked Saudi Arabian banks to help promote and develop Islamic banking and finance in the Philippines.

Payments & Settlements

Vietnam Joins ASEAN Payment Connectivity Initiative

By Sanday Chongo Kabange | 28/08/2023

The inclusion of the SBV has increased the Regional Payment Connectivity group from five to six ASEAN central banks.

Sustainable Finance

BSP Signs UN-backed Principles for Responsible Investment

By Sanday Chongo Kabange | 22/08/2023

Becoming a PRI signatory will help the BSP enhance its integration of ESG factors in its investment process and decision-making.

Payments & Settlements

BSP Unveils Timeline for New International Transaction Reporting System

By Editors | 18/08/2023

A soft launch of the new data collection system will be in January 2024. Full implementation is set for April 2024.

Trading & Investment

BSP Issues New Rules for UITFs on the Use of Benchmarks

By Editors | 14/08/2023

The BSP specifies a one-year transition period to allow unit investment trust funds to review their benchmarks and make changes where needed.

Cloud & Infrastructure

Philippines: Banks See Shift to XML-based Reporting as Beneficial, Despite Challenges

By Manesh Samtani | 19/07/2023

BSP officials and members of the banking community attended a Regulation Asia-Adenza roundtable to discuss new XML-based reporting requirements in the Philippines.

Reporting & Disclosures

BSP Calls on Banks to Disclose ESG Impact of Assets

By Editors | 14/07/2023

The BSP is collaborating with scientists to develop a metric that will be used to score banks on their efforts to fight climate change.

Operational Risk

BSP Issues Draft Guidelines on Operational Resilience

By Mark Johnston | 14/07/2023

Financial institutions should be able to demonstrate that they can continue to render critical operations through significant disruptions.

Structural Regulation

BSP Issues New Rules on Bank Stockholders’ Fitness and Propriety

By Mark Johnston | 13/07/2023

The draft circular sets out the criteria and approval process for bank stockholders, aiming to ensure their fitness and propriety.