All posts tagged "BSP"
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690Asia-PacificBSP Set to Issue Digital Bank Licensing Framework
Foreign individuals will be allowed to own up to 40% of a digital bank, while qualified foreign banks can own up to 100%.
July 7, 2020 -
446Asia-PacificBSP On Course to Issue Central Bank Securities in Q3
February 2019 amendments to the Central Bank Act restored the BSP's authority to issue debt paper as part of its regular operations to manage liquidity and monetary policy.
July 5, 2020 -
564Asia-Pacific
BSP Approves New Payment System Oversight Framework
The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
July 3, 2020 -
255Asia-PacificBSP Defers Adoption of New Supervisory Assessment Framework
The six-month deferral is intended to give FIs more time to prepare for implementation, given the impact of the Covid-19 pandemic.
June 30, 2020 -
2.4KAML / KYCUPDATED – Wirecard Fraud: A Timeline of Events
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
June 30, 2020 -
1.3KEnforcement
BaFin Efficacy Called into Question for Wirecard Handling
Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.
June 22, 2020 -
429Asia-Pacific
Large Enterprise Loans Can Count Towards Reserve Compliance: BSP
The BSP said the revised measures are intended to provide credit and help ease the financial burden of firms heavily affected by the Covid-19 pandemic.
May 30, 2020 -
491Asia-Pacific
Philippines Approves ‘Bad Bank’ Bill Amid Rising NPLs
The 'Financial Institutions Strategic Transfer Act' allows the creation of asset management companies to buy up non-performing assets from financial institutions.
May 27, 2020 -
718AML / KYC
BSP Prepares Guidelines to Regulate Virtual Asset Service Providers
The BSP may require higher capital requirements for VASPs based on their scope, scale of operations and complexity of operations.
May 22, 2020 -
425Asia-Pacific
BSP Approves Measures to Boost Lending to MSME Sector
The measures include lower risk weights for MSME loans, deferred implementation of the revised risk-based capital framework, and an extension of the relief period for reporting past due and non-performing loans.
May 6, 2020
