BANGKO SENTRAL NG PILIPINAS

BSP Issues Revised Corporate Governance Rules for FIs

By Editors | 25/11/2021

Non-Filipino citizens can become members of a bank’s board of directors, to the extent of foreign ownership in the institution.

Fintech / Regtech

Philippine SEC Issues Draft Rules for Online Lenders, Fintechs

By Mark Johnston | 24/11/2021

The SEC is seeking a greater degree of regulatory oversight for fintech firms and digital lenders to address “abusive and predatory practices”.

Fintech / Regtech

BSP to Stop Accepting Applications for E-Money Issuer Licences

By Sanday Chongo Kabange | 22/11/2021

EMI licence applications received from non-bank institutions will be processed until 15 December on a first-come, first-served basis.

Market Infrastructure

BSP Pursues Cross Border Payment Links with Malaysia, Thailand

By Editors | 16/11/2021

The BSP has been in dialogue with ASEAN central banks including MAS, BNM and BOT to make cross-border payment flows cheaper and more seamless.

Market Infrastructure

Singapore, Philippines to Pursue Cross Border Payment Links

By Editors | 08/11/2021

MAS and the BSP have agreed to pursue real time and QR payment systems links to enable instant, seamless and low-cost cross-border payments.

Philippines Streamlines Bank Merger Application Processes

By Editors | 07/11/2021

A five agency agreement will see documentary requirements cut in half and total processing times reduced from 160 to 55 business days.

ESG / Sustainability

BSP Directs Banks to Integrate Environmental, Social Risks

By Editors | 31/10/2021

Banks have to integrate environmental and social risk in their risk management frameworks and when defining their credit strategy.

Fintech / Regtech

BSP Migrates to API-Based Regulatory Reporting

By Sanday Chongo Kabange | 14/10/2021

Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.

BSP Raises Loan Limits to Bolster Project Finance

By Editors | 11/10/2021

The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.