BANGKO SENTRAL NG PILIPINAS

Philippines Forges Ahead with Bitcoin Legitimisation

By Manesh Samtani | 18/12/2017

Central bank to regulate virtual currencies for remittance, payments; not yet ready to endorse bitcoin as a currency.

AML / KYC

Philippines to Ease Forex Rules, Ending Registration System

By Editors | 30/10/2017

Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.

Capital / Liquidity

Philippines Eyes Single-digit RRR

By Editors | 25/10/2017

Current 20% RRR is one of the highest in the world; capital market development to focus on fixed income and repo markets.

Fintech / Regtech

Philippines Set to Introduce Tighter Cybersecurity Requirements for Banks

By Editors | 04/10/2017

Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.

Capital / Liquidity

Philippine Central Bank Seeks to Capture Property Loan, Project Financing Risks

By Editors | 25/09/2017

Lenders face tighter loan, financing reporting requirements as central bank says it will target ‘areas which require supervisory action’.

Capital / Liquidity

Philippine Central Bank Strengthens Compliance Standards

By Editors | 28/08/2017

Chief compliance officer must be full-time, boards given overarching responsibility; foreign banks must translate all documents into English.

Fintech / Regtech

Philippines Central Bank to Embrace Regtech

By Samuel Riding | 21/08/2017

Regtech to include API for FIs’ reporting; BSP to push financial services firms to improve cyberdefences; two bitcoin exchanges get regulatory approval.

Capital / Liquidity

New BSP Chief Eyes Cut to One of World’s Highest RRRs

By Editors | 06/07/2017

Philippine banks currently have to keep 20% in reserve; liquidity requirements were eased earlier this year.