BANGKO SENTRAL NG PILIPINAS

ESG / Sustainability

Philippine Govt Launches Sustainable Finance Framework

By Mark Johnston | 17/01/2022

The framework sets out a roadmap on how the government intends to raise green, social and sustainability bonds, loans, and other debt instruments in international capital markets.

BSP Allows More FIs to Engage in FX Transactions

By Editors | 11/01/2022

The amendments allow Islamic banks and digital banks to engage in FX transactions and streamline licensing requirements for banks.

Philippines Caps Charges Allowed on Small Value Loans

By Editors | 09/01/2022

The caps apply to the charges imposed on borrowers of small-value loans by lending firms, financing companies and online lending platforms.

AML / KYC

BSP Directs Banks to Help Curb Vote-Buying Ahead of National Election

By Editors | 05/01/2022

Banks should “at a minimum” consider four scenarios when calibrating their fraud management systems and account and transaction monitoring rules/parameters.

BSP to Enhance Bank Reporting of Credit, Equity Exposures

By Editors | 31/12/2021

Banks will pilot test the new submissions from February until May 2022, using data from the 30 June 2021 reporting period.

AML / KYC

BSP Identifies Other Banks, Non-banks Involved in BDO Hack

By Editors | 23/12/2021

A BSP task force will submit recommendations to the Monetary Board by mid-January 2022, which may include sanctions and penalties for the involved banks.

AML / KYC

BSP to Ensure Hacked BDO Accounts Are Reimbursed

By Mark Johnston | 15/12/2021

Some 700 customers of BDO Unibank have suffered losses due to a hack. The BSP said it will ensure remedial measures are undertaken.

ESG / Sustainability

Bangko Sentral’s ‘Deliberate Approach’ to Sustainable Finance

By Mark Johnston | 14/12/2021

Deputy governor Chuchi Fonacier explains the BSP’s policy approach to sustainability, highlighting the central bank’s role as an ‘enabler’, ‘mobiliser’ and ‘doer’.

Fintech / Regtech

BSP Urges Rural Banks to Promote Financial Inclusion Through Tech

By Mark Johnston | 07/12/2021

As of end-June 2021, there were over 3,000 rural banks nationwide. However, only 21 of them offer PESONet and 11 offer InstaPay for electronic fund transfer services.