All posts tagged "BSP"
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194Asia-PacificBSP Migrates to API-Based Regulatory Reporting
Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.
October 14, 2021 -
110Asia-Pacific
BSP Raises Loan Limits to Bolster Project Finance
The single borrower limit was increased to mobilise funding toward projects that support the Philippines' economic recovery efforts and nation building.
October 12, 2021 -
207Asia-Pacific
BSP Proposes Prudential Requirements for Digital Banks
The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.
October 11, 2021 -
139Asia-Pacific
BSP Urges Passage of Bill to Tackle Rising Cybercrime
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
October 6, 2021 -
147AML / KYC
BSP Updates e-KYC Guidelines for Financial Institutions
The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.
October 3, 2021 -
175Asia-Pacific
BSP Issues Governance Policy for Operators of Payment Systems
Payment system operators including banks and electronic money issuers have six months to comply with the requirements.
September 22, 2021 -
336Asia-PacificBSP Grants Sixth Digital Bank Licence to PayMaya
The seventh and final digital bank is likely to be an existing bank applying to convert into a digital bank, but approval has been delayed.
September 21, 2021 -
204Asia-Pacific
BSP Instructs Banks to Proactively Transition from LIBOR
The BSP is not looking to prescribe specific alternative reference rates for use by Philippine banks, saying these choices should be market-driven.
September 20, 2021 -
130Asia-Pacific
BSP Directs Payment Systems to Adopt PFMI Standards
Designated payment systems are expected to demonstrate adequate governance and risk management arrangements in line with the PFMI.
September 18, 2021 -
159Asia-PacificPhilippine Lawmaker Introduces Bill to Tackle Rising Cybercrime
The bill requires banks and non-bank FIs to "exhaust all means to ensure that victims are able to recover their monetary loss, if any".
September 17, 2021
