BSP - Regulation Asia

BSP Orders Mandatory 60-Day Moratorium on All Loans

Lenders are asked to implement a mandatory one-time 60-day grace period for all loans falling due on or before 31 December 2020.

September 23, 2020

1.1K

Asia-Pacific

BSP Launches Digital Payment Platform for Retail Transactions

The New Order of Payment System, or NOPS, is a secure web-based system that offering various channels through which payments can be made to the BSP.

September 15, 2020

383

Asia-Pacific

BSP to Start Issuing Debt Securities Next Week

The BSP's authority to issue its own debt paper was restored through legislation passed last year. The first auction of BSP securities will take place on 18 September.

September 10, 2020

371

Asia-Pacific

BSP, OJK Sign MoU on Financial System Development

As part of the MoU, the BSP and OJK have reportedly lined up talks in the areas of supervisory frameworks, consumer protection, financial inclusion, fintech and capacity building.

September 7, 2020

456

International

NGFS Publishes Two-year Work Programme, New Charter

A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.

September 7, 2020

1.3K

Asia-Pacific

BSP Targets September Issuance of Digital Banks Framework

Separately, new legislation is under development to expedite the digital banking sector, targeted to pass by the end of 2020.

September 6, 2020

662

AML / KYC

BSP Confirms Ongoing Probe into State-run Bank Over Cyber Theft

Over $3mn was stolen from United Coconut Planters Bank through fraudulent ATM withdrawals and online transfers over a three-day holiday in June.

September 6, 2020

615

Asia-Pacific

BSP Proposes to Impose Cap on Credit Card Finance Charges

The BSP says it is looking to impose a maximum finance charge equivalent to an effective annual interest rate of 24 percent for credit card cash advances and installment purchases.

September 1, 2020