All posts tagged "BSP"
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84AML / KYCPhilippine Banks May Face ‘Systemic Solvency Distress’: IMF
Bank capital adequacy could fall to 11.7% by 2022 in a baseline scenario, 9.3% in an adverse scenario, and 4.9% in a severe adverse scenario.
April 20, 2021 -
139Asia-PacificOverseas Filipino Bank Obtains Digital Bank Licence
Overseas Filipino Bank, formed as a policy bank to provide services to overseas Filipinos, has been granted a digital banking licence.
April 9, 2021 -
94AML / KYCPhilippines Expands AML Rules to Financing, Lending Firms
All financing and lending companies are required to register with the AMLC, report suspicious transactions and comply with other AML/CTF rules.
April 8, 2021 -
94Asia-PacificBSP Encourages Greater Development of Islamic Banking
The BSP is proactively approaching local and foreign lenders to ascertain whether they are interested in establishing Islamic banking units.
April 1, 2021 -
102Asia-PacificPhilippine Senate Considers Bills to Enhance Deposit Insurance
The Senate is considering a bill to double the maximum deposit insurance limit to PHP 1 million per depositor.
March 29, 2021 -
153Asia-PacificBSP, PDAX to Cooperate on Crypto-and-Fintech Regulatory Sandbox
A crypto-and-fintech regulatory sandbox will boost innovation and technological advancement in financial services, while also increasing public participation in these markets.
March 24, 2021 -
153Asia-Pacific
BSP Advocates Passage of New Consumer Protection Law
The proposed law will allow financial regulators to issue consumer protection rules, conduct market surveillance and examination, and adjudicate complaints.
March 10, 2021 -
484Asia-PacificPwC Offers ESG Risk Management Recommendations for Banks
Banks need to adopt training and change management programmes to ensure employees embrace ESG risk management as a requirement and discipline.
March 10, 2021 -
150Asia-Pacific
BSP Issues Draft Guidelines on New ‘Bad Bank’ Law
Banks can stagger the booking of losses from the discounted sale of NPAs to FIST corporations over five years, provided proper disclosures are made.
March 9, 2021 -
92Asia-PacificBSP Relaxes Reporting Requirements for Financial Institutions
The BSP is reducing reporting requirements related to the borrowings of directors, officers, stockholders and their related interests.
March 7, 2021
