Bangko Sentral ng Pilipinas

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    BSP Raises Interest Rate Caps for Credit Card Issuers

    By Editors | 27/01/2023

    The BSP says the higher caps will cushion the impact of inflationary pressure and interest rate hikes on banks and credit card issuers.

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    Crypto / Digital Assets

    BSP’s CBDC Testing to Continue in Sandbox Until 2024

    By Editors | 19/01/2023

    The BSP is testing large value CBDC transactions among a limited number of FIs. A retail  CBDC is not being explored.

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    Capital / Liquidity

    BSP Amends Rules on Single Borrower Limit to Boost Lending

    By Editors | 09/01/2023

    Banks won’t need approval to exclude credit exposures from the SBL if they are covered by credit risk transfer arrangements such as guarantees or credit derivatives.

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    AML / KYC

    BSP Sets Out New Rules for Reporting Financial Crime Risk Events

    By Editors | 06/01/2023

    Banks and NBFIs will have to notify the BSP within 24 hours after they become aware of any significant money laundering, terrorism financing, or proliferation financing risk event.

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    AML / KYC

    Philippines Launches Cyber Safety Campaign for Financial Customers

    By Editors | 05/01/2023

    The BSP and banking industry associations launched a new campaign to improve to cyber hygiene among financial customers.

    ESG / Sustainability

    BSP Unveils 11-Point Sustainable Central Banking Strategy

    By Editors | 28/12/2022

    The Sustainable Central Banking strategy sets out the BSP’s approach to promoting sustainability in the financial system.

    Market Infrastructure

    BSP Issues Rules for Participants of RTGS Payment System

    By Editors | 28/12/2022

    Non-bank e-money issuers and other entities can become direct participants of the RTGS payment system without being sponsored by existing participants.

    Securities / Derivatives

    Philippine Lawmakers Advance Bill to Establish Sovereign Fund

    By Editors | 18/12/2022

    Critics say the bill’s timing is poor due to the country’s lack of surplus funds, high national debt, large trade deficit, and other economic problems.

    Fintech / Regtech

    BSP Launches New, Free, Interoperable Bill Payment Facility

    By Editors | 05/12/2022

    Through Bills Pay PH, customers can make digital payments to almost 500 on-boarded billers for free even if they use different payment service providers.

    BSP Issues Rules to Implement New Financial Consumer Protection Law

    By Editors | 04/12/2022

    The BSP will be able to adjudicate cases involving financial transactions that are of civil nature and order reimbursements up to PHP 10 million.

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