Bangko Sentral ng Pilipinas

Crypto / Digital Assets

Crypto Ads to be Screened in the Philippines from 7 July

By Editors | 29/05/2022

Firms advertising crypto services to Philippine users will have to provide proof they have registered with the SEC as companies and with BSP as remittance and transfer providers.

ESG / Sustainability

BSP Consults on Sustainable Investment Guidelines for Banks

By Editors | 27/05/2022

The guidelines offer three recommended approaches to help banks assess the sustainability of their prospective investments.

Market Infrastructure

BSP Issues Draft Operating Rules for RTGS Payment System

By Sanday Chongo Kabange | 26/05/2022

The RTGS system shall be operated, managed and maintained by the BSP given its recent designation as a systemically important payment system.

AML / KYC

Philippines Passes Law to Enhance Financial Consumer Protections

By Sanday Chongo Kabange | 19/05/2022

The law grants regulators enhanced powers to address fraud and consumer complaints in a more timely manner.

Capital / Liquidity

BSP Issues Guidelines on Strengthening Rural Bank Competitiveness

By Editors | 11/05/2022

The guidelines set out options to strengthen the rural banking sector, including through mergers, acquisitions or third party investment.

AML / KYC

BSP Sanctions BDO, UBP Over Unauthorised Bank Transfers

By Editors | 04/05/2022

The BSP said it has completed its investigation into the incident and sanctioned both BDO Unibank and UBP, but it did not specify the penalties.

Fintech / Regtech

Philippine Central Bank to Pilot Test Wholesale CBDC

By Editors | 28/04/2022

Project CBDCPh will test the use of a wholesale CBDC for large-value financial transactions across a limited number of financial institutions.

Capital / Liquidity

BSP Proposes Higher Capital Requirements for Rural Banks

By Editors | 27/04/2022

The BSP says higher capital requirements will enable rural banks to enhance risk management, upgrade resources, and accelerate digital transformation.

AML / KYC

BSP Directs FIs to Implement Controls Against Cyber Fraud

By Editors | 26/04/2022

The recommended control measures include the removal of clickable links in emails and SMS and customer notifications for fund transfers and contact information changes.