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AML / KYC
BSP Probes Ten Banks Linked to Westpac AML Violations
By Editors | 19/12/2019
The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.
Securities / Derivatives
BSP Relaxes Requirements on Issuance of Debt Instruments
By Editors | 03/12/2019
Related companies of issuing banks are allowed to underwrite or arrange LTNCTDs, bonds and commercial papers, subject to certain conditions.
ESG / Sustainability
BSP to Phase In ESG-related Regulations for Banks
By Editors | 28/11/2019
The first phase will involve high-level principles on ESG integration. The second will provide granular expectations. The third will cover regulatory incentives.
Capital / Liquidity
BSP Excludes Interbank Borrowings from Reserve Calculations
By Editors | 25/11/2019
“The exclusion of these types of borrowings from the reserve base of banks and quasi-banks will result in freed-up liquidity for lending or investment activities,” the BSP said.
Capital / Liquidity
Philippines Mulls Imposing Limits on Lending Rates, Fees
By Editors | 30/10/2019
The BSP is considering placing limits on the interest rates and other fees lenders and finance companies can charge borrowers in response to a request from the SEC.
Capital / Liquidity
BSP Announces New Round of Reserve Requirement Cuts
By Editors | 25/10/2019
The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.
AML / KYC
Philippines to Start Issuing New National IDs in April
By Editors | 24/10/2019
The new IDs will make it easier for the unbanked to open accounts and avail of financial financial services, said BSP governor Benjamin Diokno.
Market Infrastructure
Philippines to Adopt QR Codes for Payments Nationally
By Editors | 24/10/2019
Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.
Fintech / Regtech
Suptech Gains Momentum but Approaches Vary: FSI Paper
By Editors | 23/10/2019
Suptech use cases have mainly clustered around misconduct analysis, reporting and data management, according a new paper from the BIS Financial Stability Institute.
Capital / Liquidity
BSP Reduces Reserve Requirement for Bank Bonds
By Editors | 18/10/2019
The move to lower is aimed at deepening the debt market and reducing the intermediation cost that bond issuers could pass on to bond holders.
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