The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.
October 20, 2022The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
September 6, 2022BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a "limited relaxation of the bank secrecy laws".
August 27, 2022Five agencies including the BSP and SEC will have a total 55 business days to process merger, consolidation, acquisition applications from banks.
March 11, 2022The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.
February 4, 2022The law empowers financial regulators to enforce standards of business conduct by financial entities and adjudicate on consumer complaints.
February 3, 2022A five agency agreement will see documentary requirements cut in half and total processing times reduced from 160 to 55 business days.
November 7, 2021The Senate is considering a bill to double the maximum deposit insurance limit to PHP 1 million per depositor.
March 29, 2021State-run financial institutions, pension funds, insurance firms and other government agencies are instructed to establish shared cyber defence strategies.
October 8, 2020Over $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