All posts tagged "BSP"
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2.4KAML / KYCThe Four e-KYC Models Around the World
Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
April 5, 2020 -
328AML / KYCBSP Relaxes KYC Norms During Covid-19 Lockdown
The move will facilitate the delivery of welfare funds to beneficiaries who have no available valid IDs or transactional account with any financial institution.
April 1, 2020 -
172Asia-Pacific
BSP Announces RRR Cut, Lenders Asked to Grant Debt Relief
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.
March 25, 2020 -
230Asia-PacificPhilippine Stocks Resume Trading, Central Bank Relaxes Regulations
The BSP has cut interest rates and relaxed regulations on compliance reporting by banks, calculation of penalties on required reserves, and single borrower limits.
March 19, 2020 -
286Asia-PacificPhilippine Markets Shut, Central Bank Promises Regulatory Relief
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.
March 17, 2020 -
431Asia-Pacific
BSP to Adopt New Supervisory Assessment Framework From July
The new SAFr - said to be more forward-looking compared to CAMELS - uses a four-point rating scale, focusing on FIs business models and compliance systems' ability to mitigate risk.
March 11, 2020 -
406Asia-Pacific
Philippine Banks to Get Covid-19 Regulatory Relief
The relief measures may include grace periods for rediscounting loans, staggered booking of credit losses, non-imposition of penalties for reserve deficiencies, and non-recognition of loan defaults.
March 2, 2020 -
246Asia-Pacific
BSP Approves ‘Enhanced’ Capital Requirements for Smaller Banks
The higher capital standards for stand-alone thrifts, rural and cooperative banks include a 6% minimum CET1 ratio, a 7.5% Tier 1 ratio, and a 2.5% capital conservation buffer.
February 28, 2020 -
231Asia-Pacific
BSP Extends Prudential Loan Cap Transition Period for Foreign Banks
The extended transitory period is aimed at ensure continued financing support for public sector initiatives under the 'Build, Build, Build' programme by foreign bank branches.
February 14, 2020 -
281Asia-Pacific
BSP Bars Bank Affiliates from Holding Bank-Issued Debt
The prohibition is aimed at preventing related parties from obtaining undue advantage when transacting in debt instruments issued by affiliated banks.
February 13, 2020
