The BSP is considering lowering minimum amount a client must maintain in an investment account from ₱1mn to ₱100,000.
July 16, 2020The six-month deferral is intended to give FIs more time to prepare for implementation, given the impact of the Covid-19 pandemic.
June 30, 2020The 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, 2020Supervised financial institutions are encouraged to prudently leverage on technology to reinforce their controls against fraud and financial crime.
May 1, 2020The prohibition is aimed at preventing related parties from obtaining undue advantage when transacting in debt instruments issued by affiliated banks.
February 13, 2020The bill proposes that the BSP grant five virtual bank licences every year for at least five years, and to allow both financial and non-financial firms to apply.
January 8, 2020The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.
December 20, 2019The BSP will give more importance to a bank’s size and interconnectedness when deciding which lenders should be classified as D-SIBs.
October 4, 2019The Philippine central bank has amended rules that previously prohibited the election and appointment of foreign nationals as directors and officers of financial institutions in the country.
May 1, 2019The Philippines has changed its rules for calculating bank capital to better reflect asset quality and align with computations used for capital adequacy.
January 23, 2019