BANGKO SENTRAL NG PILIPINAS

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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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    Fintech / Regtech

    BSP Studying Impact of Generative AI on Banking Industry

    By Sanday Chongo Kabange | 12/03/2024

    The BSP is seeking to introduce  ‘guardrails’ to mitigate potential risks associated with the use of Gen AI in the banking industry.

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    ESG / Sustainability

    Philippine SEC Adopts Sustainable Finance Taxonomy

    By Sanday Chongo Kabange | 06/03/2024

    The SEC said issuers of securities should refer to the taxonomy when making investment decisions or designing sustainable financial products and services.

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    Fintech / Regtech

    BSP to Enhance Reporting Rules for Money Services Businesses

    By Editors | 06/03/2024

    MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

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    Big Picture

    BSP Report Highlights Systemic Risk from Optimism Bias

    By Mark Johnston | 26/02/2024

    The central bank warns of systemic risks from optimistic market expectations in its 2023 Financial Stability Report.

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    ESG / Sustainability

    BSP Approves Adoption of Sustainable Finance Taxonomy for Banks

    By Mark Johnston | 23/02/2024

    The first version of the taxonomy focuses on climate change mitigation and climate change adaptation. Future iterations will cover biodiversity and circular economy.

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    Market Infrastructure

    Philippines: BSP, PDIC Enhance Cooperative Arrangements

    By Sanday Chongo Kabange | 23/02/2024

    Banks will no longer need to submit some prudential reports separately to the PDIC, the BSP said.

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    Fintech / Regtech

    BSP Approves GCash Expansion Services to Overseas Filipinos

    By Mark Johnston | 22/02/2024

    Filipinos in 16 countries can now send money, pay bills and buy load using the GCash app.

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    BSP to Ease FX Market Access for Nonresident Investors

    By Mark Johnston | 21/02/2024

    The BSP will remove the need for foreign investors to submit a registration document to access FX from the domestic banking system.

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    BSP, Deutsche Bundesbank Sign MOU on Capacity Building

    By Mark Johnston | 19/02/2024

    Philippines’ BSP and Germany’s Bundesbank signed an MOU to enhance capacity-building efforts through tailored training and advisory services.

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