BANGKO SENTRAL NG PILIPINAS

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    AML / KYC

    BSP Details Efforts to Address Fraud and Scam Threats

    By Bradley Maclean | 25/06/2024

    BSP officials discuss efforts to address fraud and scam threats through new requirements for banks and a thematic review of fraud management during 2024.

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    Capital / Liquidity

    BSP Directs All Banks to Submit Recovery Plans by 30 June

    By Sanday Chongo Kabange | 05/06/2024

    The requirements on the submission of recovery plans are also applicable to thrift, rural, and cooperative banks.

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    Fintech / Regtech

    BSP Eyes Open Finance Platform for Pensions, Insurance

    By Mark Johnston | 28/05/2024

    The open finance platform will use APIs to support access to different pension and insurance products and boost financial inclusion.

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    Crypto / Digital Assets

    BSP Allow PHP Stablecoin Project to Enter Sandbox

    By Editors | 13/05/2024

    Coins.ph will test a peso-backed stablecoin in payments, trading, hedging and DeFi applications.

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    AML / KYC

    BSP Mandates 24-Hour Reporting for Significant Risk Events

    By Mark Johnston | 06/05/2024

    New BSP rules require bank and non-bank FIs to report significant ML/TF/PF risk events within 24 hours.

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    Fintech / Regtech

    Philippines: NPLs at Digital Banks Continue to Rise

    By Sanday Chongo Kabange | 10/04/2024

    Only two of the Philippines’ six digital banks are currently profitable. Yet, while NPLs are rising, deposit growth is still strong.

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    BSP Proposes New Consumer Protection Supervisory Framework

    By Editors | 03/04/2024

    The framework sets out how the BSP will assess the risks an FI poses to consumers so that supervision can be more risk-based and calibrated.

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    Fintech / Regtech

    The Compliance Complexity Driving RegTech Demand in APAC

    By Ed Probst | 02/04/2024

    The growing complexity of regulatory requirements including in the reporting space is prompting FIs to rethink their approach to compliance, says Ed Probst.

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    AML / KYC

    BSP Issues New Manual of Regulations for Payment Systems

    By Sanday Chongo Kabange | 26/03/2024

    ​The manual sets out rules and regulations governing the operations of the national payment system, as well as payment providers.

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    AML / KYC

    BSP Directs Banks to Prioritise PhilID in Customer KYC, Verification

    By Editors | 15/03/2024

    The BSP has identified the national ID, which is part of PhilSys, as a driver of financial inclusion in the Philippines.

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