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Liquidity Risk
Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity
By Editors | 07/01/2020
Universal banks, commercial banks and their subsidiary thrift banks and quasi-banks are required to submit the ‘report on intraday liquidity’ by end-June 2021, and every month thereafter.
Payments & Settlements
BSP Extends Registration Deadline for Payment System Operators
By Editors | 30/12/2019
Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.
Anti-Money Laundering
BSP Probes Ten Banks Linked to Westpac AML Violations
By Editors | 19/12/2019
The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.
Trading & Investment
BSP Relaxes Requirements on Issuance of Debt Instruments
By Editors | 03/12/2019
Related companies of issuing banks are allowed to underwrite or arrange LTNCTDs, bonds and commercial papers, subject to certain conditions.
Reporting & Disclosures
BSP to Phase In ESG-related Regulations for Banks
By Editors | 28/11/2019
The first phase will involve high-level principles on ESG integration. The second will provide granular expectations. The third will cover regulatory incentives.
Liquidity Risk
BSP Excludes Interbank Borrowings from Reserve Calculations
By Editors | 25/11/2019
“The exclusion of these types of borrowings from the reserve base of banks and quasi-banks will result in freed-up liquidity for lending or investment activities,” the BSP said.
Structural Regulation
Philippines Mulls Imposing Limits on Lending Rates, Fees
By Editors | 30/10/2019
The BSP is considering placing limits on the interest rates and other fees lenders and finance companies can charge borrowers in response to a request from the SEC.
Liquidity Risk
BSP Announces New Round of Reserve Requirement Cuts
By Editors | 25/10/2019
The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.
KYC & CDD
Philippines to Start Issuing New National IDs in April
By Editors | 24/10/2019
The new IDs will make it easier for the unbanked to open accounts and avail of financial financial services, said BSP governor Benjamin Diokno.
Payments & Settlements
Philippines to Adopt QR Codes for Payments Nationally
By Editors | 24/10/2019
Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.
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