BANGKO SENTRAL NG PILIPINAS

    BSP Grants Foreign Banks Relief from Single Borrower’s Limit

    By Editors | 02/01/2021

    The measure is expected to help boost lending, bolster economic growth and diversify credit exposures, said BSP governor Benjamin Diokno.

    Philippines: BSP to Standardise MSME Loan Applications

    By Editors | 24/12/2020

    A standard business loan application form will simplify and improve the application process, while also facilitating banks’ risk assessments and speeding up turnaround time.

    Capital / Liquidity

    BSP Deputy Governor Outlines Key Priorities for the Year Ahead

    By Manesh Samtani | 07/12/2020

    Deputy Governor Chuchi Fonacier spoke to Regulation Asia about planned measures to promote digital payments, help MSMEs, and further strengthen the banking sector.

    Capital / Liquidity

    BSP Issues Draft Rules for Islamic Bank Liquidity Management

    By Editors | 29/11/2020

    Due to the limited availability of liquidity management instruments which are appropriate for Islamic banks and banking units, the BSP will adopt a flexible approach to compliance.

    Fintech / Regtech

    Philippine Central Bank Introduces Digital Banking Framework

    By Editors | 27/11/2020

    Foreign individuals and non-bank corporations are allowed to hold up to 40% of a digital bank’s voting shares, while foreign banks are allowed to hold up to 100%.

    Market Infrastructure

    BSP Instructs Banks to Report on LIBOR Exposures Quarterly

    By Manesh Samtani | 23/11/2020

    The regular reports will guide the degree of the central bank’s supervisory engagement with individual institutions, BSP deputy governor Chuchi Fonacier told Regulation Asia.

    Fintech / Regtech

    BSP Seeks Interoperability, Unified Standard in Payments

    By Sanday Chongo Kabange | 21/11/2020

    BSP governor Benjamin Diokno envisions that payment facilities operated by individual banks and payment firms will operate under a single standard.

    AML / KYC

    IMF Calls for Amendments to Philippine Bank Secrecy Laws

    By Editors | 17/11/2020

    The BSP should be granted “unimpaired access” to information on all customer accounts and the ability to employ and share depositor information for any prudential purpose.

    Fintech / Regtech

    BSP, MAS Declare Opposition to Data Localisation Requirements

    By Editors | 16/11/2020

    Data mobility in financial services supports economic growth, innovative financial services, risk management and compliance, BSP and MAS say in a joint statement.

    AML / KYC

    Philippine Authorities Probe Financial Transactions Linked to Wirecard

    By Sanday Chongo Kabange | 11/11/2020

    The National Bureau of Investigation is examining the financial transactions of a law firm office that appears to have provided legal services to Wirecard and Jan Marsalek.

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