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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.
Capital / Liquidity
BSP Proposes Prudential Requirements for Digital Banks
By Editors | 11/10/2021
The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.
Market Infrastructure
BSP Urges Passage of Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 05/10/2021
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
AML / KYC
BSP Updates e-KYC Guidelines for Financial Institutions
By Ranamita Chakraborty | 03/10/2021
The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.
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