BANGKO SENTRAL NG PILIPINAS

AML / KYC

BSP Adopts New AML/CFT Risk Assessment Framework

By Ranamita Chakraborty | 18/02/2021

The new framework will use a four-point rating scale to grade FIs based on their inherent risks, risk management capabilities and self-assessment systems.

Capital / Liquidity

Philippine President Duterte Signs ‘Bad Bank’ Bill Into Law

By Editors | 17/02/2021

The law will help cushion lenders from a build-up of bad loans due to the Covid-19 crisis, allowing them to dispose of bad assets and keep the banking system stable.

Securities / Derivatives

BSP Lowers Minimum Balance for Investment Management Accounts

By Editors | 11/02/2021

BSP Governor Benjamin Diokno said the revised regulations are aimed at expanding investment opportunities for the public.

AML / KYC

BSP Warns Banks Against Unlicensed Gaming Operators

By Editors | 11/02/2021

FIs should ensure they have robust risk management and due diligence frameworks in place to prevent transactions with illegal online gambling operators.

AML / KYC

BSP Updates VASP Rules to Align with FATF Requirements

By Editors | 28/01/2021

The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.

Capital / Liquidity

2021 Outlook for BCBS 239 Compliance in Southeast Asia

By Irene Liu | 26/01/2021

PwC’s South East Asia Consulting team discusses progress made to comply with BCBS 239 in Southeast Asian jurisdictions, providing an outlook and recommendations for the year ahead.

AML / KYC

BSP Highlights AML Risks of Cash, Cross-Border Payments

By Editors | 24/01/2021

Suspected criminal proceeds mostly came from Australia, Germany, Singapore, the UK and the US. The top destinations of suspected illicit funds were Hong Kong, Singapore and the US.

Market Infrastructure

BSP Deploys New Supervisory Assessment Framework

By Editors | 12/01/2021

SAFr aims to facilitate forward-looking assessments of financial institutions and link their systemic importance and risk profile to the level of supervisory attention they receive.

Market Infrastructure

BSP Consults on Draft Policies to Strengthen Payment Systems

By Editors | 03/01/2021

The first draft policy covers governance policies for payment system operators. The second covers the local adoption of the PFMI for designated payment systems.