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AML / KYC
BSP Warns of Covid-19 related Money Laundering Risks
By Editors | 01/05/2020
Supervised financial institutions are encouraged to prudently leverage on technology to reinforce their controls against fraud and financial crime.
Capital / Liquidity
BSP Relaxes Loan Classification Norms, MSME Loan Risk Weight
By Editors | 30/04/2020
The relaxation of loan classification norms and the lowering of credit risk weights on MSME loans will apply until end-December 2021.
Capital / Liquidity
BSP Eases Asset Cover Rules for Banks’ FX Exposures
By Editors | 25/04/2020
Banks can offset foreign currency asset cover deficiency incurred on one or more days of the week with excess cover from other days of the same or immediately succeeding weeks.
Capital / Liquidity
UPDATED – MSME Loans Can Be Counted Towards Reserve Requirements: BSP
By Editors | 20/04/2020
Loans granted to MSMEs can be counted as part of banks’ compliance with reserve requirements. Detailed guidelines will be issued in due course.
BSP Announces New Measures to Support Domestic Liquidity
By Editors | 13/04/2020
The BSP will expand the eligible securities it can purchase in the secondary market to include all peso-denominated government securities, rather than just those that are highly traded and liquid.
Capital / Liquidity
BSP Offers Banks Mark-to-Market Relief, Cuts Liquidity Requirements
By Editors | 08/04/2020
The accounting relief allows banks to effectively reverse unrealised losses resulting from a change in fair value. The MLR cut frees up almost $200mn for smaller lenders.
AML / KYC
BSP Relaxes KYC Norms During Covid-19 Lockdown
By Editors | 01/04/2020
The move will facilitate the delivery of welfare funds to beneficiaries who have no available valid IDs or transactional account with any financial institution.
Capital / Liquidity
BSP Announces RRR Cut, Lenders Asked to Grant Debt Relief
By Editors | 24/03/2020
The 200 basis point cut will release up to 200bn pesos in bank liquidity. Lenders are encouraged to continue lending and to offer debt relief to borrowers.
Capital / Liquidity
Philippine Stocks Resume Trading, Central Bank Relaxes Regulations
By Editors | 19/03/2020
The BSP has cut interest rates and relaxed regulations on compliance reporting by banks, calculation of penalties on required reserves, and single borrower limits.
Capital / Liquidity
Philippine Markets Shut, Central Bank Promises Regulatory Relief
By Editors | 17/03/2020
The Philippines has halted stock, bond and currency trading ‘until further notice’. The BSP is urging banks to provide financial relief to customers and employees.
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