INSURANCE COMMISSION

Market Infrastructure

Philippines to Establish Facility for Catastrophe Risk Sharing

By Editors | 28/02/2021

Domestic insurers that provide catastrophe risk coverage currently reinsure their risks overseas. The new facility will enable insurers to pool risk and resources domestically.

ESG / Sustainability

‘Global Asia Insurance Partnership’ to Launch in January

By Editors | 04/11/2020

GAIP will incubate new risk financing solutions for emerging risks in Asia and serve as a policy think tank, initially focusing on pandemic risk and climate risk.

Fintech / Regtech

Philippine DOF Push For Joint Cyber Defence Strategy

By Sanday Chongo Kabange | 08/10/2020

State-run financial institutions, pension funds, insurance firms and other government agencies are instructed to establish shared cyber defence strategies.

Securities / Derivatives

Philippine Insurers Permitted to Borrow, Lend Securities

By Editors | 24/09/2019

The move is aimed at helping the insurance industry to broaden their investment options, diversify their portfolios, and more actively participate in capital market development.

Enforcement

Philippines Moves to End Abusive Practices by Fintech Lenders

By Editors | 18/09/2019

A code of ethics and code of conduct have been adopted by members of FinTechAlliance.ph prohibiting the harassment and shaming of delinquent borrowers.

Market Infrastructure

BSP Unveils First Financial Stability Report

By Garima Chitkara | 30/08/2018

Inaugural financial stability report focuses on impact of higher interest rates and weakening EM currencies on outstanding debt. It also looks at potential financial stability implications from fintech and ASEAN integration.

Crypto / Digital Assets

Thailand Allows Banks to Engage in Crypto Activities Through Subsidiaries

By Manesh Samtani | 10/08/2018

Banks still prohibited from issuing, buying or selling digital tokens directly, but bank subsidiaries will be allowed to trade cryptocurrency and issue digital tokens with permission from supervisory body.

Capital / Liquidity

Communist Party Committees To Foster Risk Aversion at Chinese Banks

By Garima Chitkara | 28/06/2018

China’s regional and mid-tier banks are formally establishing Communist Party committees in support of the government’s bid to crackdown on excessive risk taking in the banking sector.

Securities / Derivatives

Philippine Govt Establishes Financial Stability Coordination Council

By Editors | 03/02/2014

The Bangko Sentral ng Pilipinas, along with other government agencies, has established the nation’s Financial Stability Coordination Council.