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Capital / Liquidity
BSP Issues Guidelines for Banks on Managing IRRBB
By Editors | 14/08/2019
Covered supervised institutions have until 1 January 2021 to develop or revise their policies and procedures in accordance with the guidelines.
Capital / Liquidity
BSP Approves New Risk Management Guidelines for Banks
By Editors | 29/07/2019
The guidelines seek to ensure that risks from banks’ investment activities are effectively identified, measured, monitored and controlled.
Market Infrastructure
BSP Orders FIs to Coordinate Cyber Threat Response
By Editors | 17/06/2019
BSP supervised financial institutions are asked to participate in the BAPCID, a platform for sharing cyber threat information and best practices.
Market Infrastructure
Japan, Philippines Explore Yen-Peso Direct Trading
By Editors | 03/06/2019
Japan and the Philippines will explore the establishment of direct yen-peso settlement for trade and investment between the two countries.
Market Infrastructure
Philippines Revises Framework Governing Bank Auditors
By Editors | 29/05/2019
The revised framework lays out criteria for banks to select external auditors as well as key guidelines for auditors in their assessment of banks.
Capital / Liquidity
BSP Cuts RRR for Thrift, Rural, Cooperative Banks
By Editors | 25/05/2019
The move follows RRR cuts for large banks, as the BSP looks to mitigate lowering price expectations and inflation.
Capital / Liquidity
BSP to Cut Reserve Requirements for Biggest Banks
By Editors | 17/05/2019
The 200 basis point RRR cut will take place over three phases by end-July, and free up an estimated $3.6bn in banking system liquidity.
AML / KYC
Philippine FIU Seeks an End to Bank Secrecy Law
By Editors | 07/05/2019
The AML Council is seeking additional powers to combat financial crime, including the lifting of the bank secrecy law, which would allow it to check all accounts regardless of transaction thresholds.
Market Infrastructure
Philippines Allows Foreigners to Serve as Bank Directors, Officers
By Editors | 01/05/2019
The Philippine central bank has amended rules that previously prohibited the election and appointment of foreign nationals as directors and officers of financial institutions in the country.
Market Infrastructure
BSP Issues Draft Rules for Implementing National Payment Systems Act
By Editors | 26/04/2019
The Philippine central bank has issued a draft circular to support its new mandate as the primary regulator for the country’s payment systems.
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