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Climate Risk
BSP Issues Guidance for Banks on E&S Risk Management
By Manesh Samtani | 04/10/2022
Banks must develop ESRM systems that assess environmental and social risks arising from their operations, products, services, transactions, activities, and operating environment.
Capital Adequacy
BSP Tightens Prudential Requirements for Digital Banks
By Editors | 21/09/2022
Digital banks must meet the same Basel III capital, liquidity and leverage requirements applicable to universal and commercial banks.
Cryptocurrency
Binance Set to Secure Crypto Licence for the Philippines
By Editors | 21/09/2022
Binance is in late stage talks to buy a Philippine company that already has VASP and electronic money issuer licences.
Trading & Investment
BSP Amends Rules for Unit Investment Trust Funds
By Editors | 17/09/2022
Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.
Cloud & Infrastructure
BSP Approves Introduction of Regulatory Sandbox Framework
By Editors | 13/09/2022
The regulatory sandbox framework will enable the BSP to balance the perceived benefits of emerging technologies against the need to manage their risks.
PEPs & Sanctions
BSP Issues New Guidance on TFS Implementation
By Sanday Chongo Kabange | 09/09/2022
The guidance sets out the BSP’s regulatory expectations and identifies emerging typologies, including the use of virtual assets to finance terrorism.
Capital Adequacy
BSP Raises Minimum Capital Requirement for Rural Banks
By Sanday Chongo Kabange | 06/09/2022
The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.
Emerging Prudential Risks
Philippines to Assess Financial Conglomerate Risks in October
By Editors | 06/09/2022
The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
Cybersecurity
BSP Rolls Out New Cyber Risk Management Software at FIs
By Editors | 06/09/2022
The software will streamline and automate regulatory supervision, reporting and compliance assessment of banks’ cybersecurity risk management.
Credit Risk
BSP Approves Guidelines on Large Exposures Monitoring
By Editors | 31/08/2022
The guidelines set out the criteria banks should use to assess economic interdependence between connected counterparties, among other requirements.
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