Infrawatch PH says exhibiting leniency toward unregistered crypto exchanges risks the Philippines remaining on the FATF gray list.
June 27, 2023Eli Remolona, who previously spent more than 30 years between the NY Fed and BIS, will serve a six-year term as BSP governor starting 3 July.
June 26, 2023The pilot involves participation from FIs to co-develop an "open, interoperable, and scalable ecosystem", supported by the BSP and IFC.
June 23, 2023The temporary O/N reference rate to replace LIBOR will be based on the 28-day BSP bill rate. A permanent benchmark and "credible" yield curve will be developed by January 2024.
June 23, 2023The new rules take effect on 1 May, requiring all regulated FIs to have a complaint handling mechanism and effectively handle consumer disputes.
April 13, 2023The PhilSys national digital ID system is acceptable for e-KYC, provided it is supported by "robust technology, adequate governance, processes, and procedures".
April 8, 2023The BSP is offering relief from minimum capital requirements to incentivise conventional banks to develop the Islamic banking market.
April 4, 2023From 1 July, all FIs and PSPs must disable all non-QR Ph codes and proprietary QR codes and ensure they are no longer be available to the public.
March 15, 2023The BSP is considering lowering the RRR in exchange for banks waiving their fees on small transactions, as part of efforts to promote financial inclusion.
March 7, 2023Amended regulations require e-money issuers to meet higher liquidity and capital requirements, to ensure the industry’s resilience.
February 15, 2023