All posts tagged "universal banks"

RBI Assesses Six Applicants Unsuitable for Banks Licensing

RBI to Update Rules on Ownership of Private Sector Banks

Promoters will be able to increase their long-run stakes in private sector banks from 15 to 26 percent. The capital requirement for a universal bank licence will be doubled.

BSP Introduces Stricter Penalty Framework for FIs

Monetary penalties have increased from PHP 30,000 to a maximum PHP 1 million for each violation. Fines up to three times profit gained or loss avoided can also be imposed.

BSP Cuts Reserve Requirements for Smaller Banks

The move to lower the reserve requirement ratio for thrift, rural and cooperative banks will release an estimated $200mn into the economy.

BSP Announces RRR Cut, Lenders Asked to Grant Debt Relief

The 200 basis point cut will release up to 200bn pesos in bank liquidity. Lenders are encouraged to continue lending and to offer debt relief to borrowers.

Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity

Universal banks, commercial banks and their subsidiary thrift banks and quasi-banks are required to submit the 'report on intraday liquidity' by end-June 2021, and every month thereafter.