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Securities / Derivatives
BSP to Start Issuing Debt Securities Next Week
By Editors | 10/09/2020
The BSP’s authority to issue its own debt paper was restored through legislation passed last year. The first auction of BSP securities will take place on 18 September.
Market Infrastructure
BSP, OJK Sign MoU on Financial System Development
By Sanday Chongo Kabange | 07/09/2020
As part of the MoU, the BSP and OJK have reportedly lined up talks in the areas of supervisory frameworks, consumer protection, financial inclusion, fintech and capacity building.
ESG / Sustainability
NGFS Publishes Two-year Work Programme, New Charter
By Editors | 07/09/2020
A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.
Fintech / Regtech
BSP Targets September Issuance of Digital Banks Framework
By Editors | 06/09/2020
Separately, new legislation is under development to expedite the digital banking sector, targeted to pass by the end of 2020.
AML / KYC
BSP Confirms Ongoing Probe into State-run Bank Over Cyber Theft
By Sanday Chongo Kabange | 05/09/2020
Over $3mn was stolen from United Coconut Planters Bank through fraudulent ATM withdrawals and online transfers over a three-day holiday in June.
BSP Proposes to Impose Cap on Credit Card Finance Charges
By Editors | 31/08/2020
The BSP says it is looking to impose a maximum finance charge equivalent to an effective annual interest rate of 24 percent for credit card cash advances and installment purchases.
Capital / Liquidity
BSP Relaxes Real Estate Lending Limits for Banks
By Editors | 21/08/2020
The higher limit will encourage bank lending to households for the acquisition or construction of a residential real estate property the BSP said.
Fintech / Regtech
BSP Takes Consumer Complaints Chatbot Live
By Sanday Chongo Kabange | 20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
Capital / Liquidity
BSP Expects Sound Borrower Assessments, Forbearance Reporting
By Editors | 10/08/2020
Requirements to report forbearance granted to borrowers will ensure industry statistics reflect the “true health of the banking system” and incentivise prudence in banks’ credit decisions.
ESG / Sustainability
BSP Joins Network for Greening the Financial System
By Editors | 04/08/2020
The NGFS membership will strengthen BSP’s collaboration with central banks and supervisors on the effective management of climate risks in the financial sector.
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