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Capital / Liquidity
BSP Defers Adoption of New Supervisory Assessment Framework
By Editors | 30/06/2020
The six-month deferral is intended to give FIs more time to prepare for implementation, given the impact of the Covid-19 pandemic.
AML / KYC
UPDATED – Wirecard Fraud: A Timeline of Events
By Editors | 30/06/2020
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
Enforcement
BaFin Efficacy Called into Question for Wirecard Handling
By Manesh Samtani | 22/06/2020
Last February, BaFin responded to whistleblower allegations and critical media reports by banning short-selling in Wirecard and filing criminal charges against journalists.
Capital / Liquidity
Large Enterprise Loans Can Count Towards Reserve Compliance: BSP
By Editors | 30/05/2020
The BSP said the revised measures are intended to provide credit and help ease the financial burden of firms heavily affected by the Covid-19 pandemic.
Capital / Liquidity
Philippines Approves ‘Bad Bank’ Bill Amid Rising NPLs
By Editors | 27/05/2020
The ‘Financial Institutions Strategic Transfer Act’ allows the creation of asset management companies to buy up non-performing assets from financial institutions.
AML / KYC
BSP Prepares Guidelines to Regulate Virtual Asset Service Providers
By Editors | 21/05/2020
The BSP may require higher capital requirements for VASPs based on their scope, scale of operations and complexity of operations.
Capital / Liquidity
BSP Approves Measures to Boost Lending to MSME Sector
By Editors | 06/05/2020
The measures include lower risk weights for MSME loans, deferred implementation of the revised risk-based capital framework, and an extension of the relief period for reporting past due and non-performing loans.
Capital / Liquidity
Philippines: BSP Allows Banks to Draw on Capital, Liquidity Buffers
By Editors | 05/05/2020
Banks that draw from the capital conservation buffer or fall below 100% LCR will not be considered in breach of Basel III rules.
AML / KYC
BSP Warns of Covid-19 related Money Laundering Risks
By Editors | 01/05/2020
Supervised financial institutions are encouraged to prudently leverage on technology to reinforce their controls against fraud and financial crime.
Capital / Liquidity
BSP Relaxes Loan Classification Norms, MSME Loan Risk Weight
By Editors | 30/04/2020
The relaxation of loan classification norms and the lowering of credit risk weights on MSME loans will apply until end-December 2021.
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