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BOT Directs Banks to Adopt Fairer Fee Structures
By Editors | 09/01/2020
Banks are instructed to lower the interest costs and fees loan prepayments and late repayments, and to adopt grace periods to reduce borrower burdens.
AML / KYC
Technology to Drive Regulatory Agenda in 2020: Thomson Reuters
By Manesh Samtani | 09/01/2020
Technology has displaced the 2008 financial crisis as the main issue driving the international regulatory agenda, says a new report from Thomson Reuters.
Fintech / Regtech
Philippine Lawmaker Proposes Regulatory Framework for Virtual Banks
By Editors | 08/01/2020
The 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.
Capital / Liquidity
Bangladesh Banks Given Final Deadline to Cut Lending, Deposit Rates
By Editors | 07/01/2020
Finance Minister AHM Mustafa Kamal says banks have a final deadline of 1 April to bring down the maximum lending rate to 9% and the maximum deposit rate to 6%.
Sri Lanka to Penalise 8 Banks for Failing to Lower Lending Rates
By Editors | 07/01/2020
Eight banks will be penalised for failure to lower lending rates by a 27 December 2019 deadline set by the central bank in September last year, intended to ensure the public benefits from monetary policy decisions.
BSP Revises Disqualification Rules for Bank Directors, Officers
By Editors | 07/01/2020
Bankers can be disqualified and placed on a watchlist for causing undue injury, material loss or damage to a bank, or for exposing it to higher risk or danger.
Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity
By Editors | 07/01/2020
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.
Market Infrastructure
Philippines Approves Introductory Rules for Islamic Banking
By Editors | 06/01/2020
The BSP has released guidelines for the establishment of Islamic banks and Islamic banking units in the Philippines, along with a newly-approved Shari’ah governance framework.
Securities / Derivatives
Philippine SEC Approves Implementing Guidelines on Short Selling
By Editors | 06/01/2020
The new implementing guidelines address concerns over the effect of SBL and short selling transactions on trading participants’ books and records, error transactions, and capital adequacy.
Market Infrastructure
BSP Extends Registration Deadline for Payment System Operators
By Editors | 30/12/2019
Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.
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