Bangko Sentral ng Pilipinas

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    Capital / Liquidity

    Philippines Mulls Increase to Deposit Insurance Limit – Report

    By Editors | 16/02/2024

    The PDIC will consult the BSP on whether an increase in the deposit insurance limit would have to be introduced alongside measures to mitigate moral hazard risks.

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    Crypto / Digital Assets

    Philippines Plans to Launch Wholesale CBDC Within Two years

    By Nithya Subramanian | 13/02/2024

    BSP Governor Eli Remolona said the CBDC will operate on the central bank’s payment and settlement system and not use blockchain or DLT.

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    Market Infrastructure

    BSP Offers Incentives for Early Use of New Standard Loan Form

    By Sanday Chongo Kabange | 16/01/2024

    Lenders that adopt the new loan application form ahead of mandatory adoption will receive a reduction in the annual supervisory fee for 2024 and 2025.

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    Fintech / Regtech

    BSP Grants Direct PhilPaSSplus Access to First Nonbank EMI

    By Sanday Chongo Kabange | 12/01/2024

    OmniPay’s direct access to PhilPaSSplus allows it to make efficient and low-risk funds transfers using central bank rails.

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    Fintech / Regtech

    BSP Proceeds With Soft Launch of New ITRS System

    By Editors | 09/01/2024

    The soft launch of the new International Transaction Reporting System commenced as planned on 8 January. Full implementation is deferred from April to June.

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    Securities / Derivatives

    Philippine Regulators Pledge to Deepen Bond Market

    By Sanday Chongo Kabange | 09/01/2024

    The objective is to increase the diversity of corporate borrowers that issue bonds and to make risk pricing more active.

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    Capital / Liquidity

    BSP Amends Cheque Clearing Policy, Reintroduces Funding Facility

    By Sanday Chongo Kabange | 06/01/2024

    The reforms are aimed at enhancing the efficiency and safety of the Philippine payments system.

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    AML / KYC

    Philippines Tightens Travel Rule Requirements for Crypto

    By Editors | 01/01/2024

    VASPs are expected to obtain, verify, and hold originator and beneficiary information for transactions with unhosted wallets regardless of the amount involved.

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    Fintech / Regtech

    BSP Retains Moratorium on InstaPay and PESONet Fee Increases

    By Sanday Chongo Kabange | 20/12/2023

    The moratorium will remain in place as the BSP works to eliminate fees entirely for small e-payment transactions.

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    ESG / Sustainability

    BSP Approves New Incentives to Promote Sustainable Finance

    By Sanday Chongo Kabange | 19/12/2023

    The measures include extra lending capability and a reduced reserve requirement rate on sustainable bonds issued by banks.

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