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Capital / Liquidity
The Philippines Adopts NSFR For Large Banks
By Garima Chitkara | 07/06/2018
Banks given six months starting 1 July to start reporting NSFR; banks unable to meet the ratio will need to submit funding plan to the central bank.
Capital / Liquidity
Philippines Further Reduces Reserve Requirements
By JP Reimann | 28/05/2018
The 100 basis point RRR reduction is expected to help facilitate healthy price discovery on the cost of funds in the financial system.
Fintech / Regtech
Philippine Central Bank Establishes Fintech Regulatory Unit
By Garima Chitkara | 14/05/2018
New unit established under financial supervision section as part of an organisational restructuring at the central bank.
Capital / Liquidity
Philippines to Implement New Credit Card Law
By Garima Chitkara | 07/05/2018
New law aims to increase competition by allowing non-bank entities to enter credit card business; includes greater safeguards for borrowers related to calculation of charges, unfair collection practices, and the use of customer data.
Fintech / Regtech
Philippines Launches Real Time E-Payments Platform InstaPay
By JP Reimann | 24/04/2018
Philippine central bank launch of InstaPay will enable real-time electronic fund transfers up to PHP50,000 per day through 20 participating institutions.
AML / KYC
Philippines Targets Retail Finance Digitalisation
By Garima Chitkara | 19/04/2018
BSP governor laid out the central bank’s regulatory priorities in fintech and regtech while revealing regulation around AML/KYC requirements and mitigating the risks surrounding data security.
Fintech / Regtech
Philippines to Strengthen Supervision Through Regtech
By Editors | 05/04/2018
BSP to adopt regtech solutions including API for electronic data submissions by FIs, chatbot for complaints to the regulator.
Market Infrastructure
Malaysia Foils Cyber Attack Involving Falsified SWIFT Messages
By Manesh Samtani | 01/04/2018
Unauthorised transactions were prevented by central bank, no financial losses occurred; near breach prompts increased vigilance in the Philippines.
Capital / Liquidity
Philippines to Implement Minimum Liquidity Ratio for Small Banks
By Garima Chitkara | 12/02/2018
Smaller banks subject to LCR of 100 percent if they are subsidiaries of larger banks and minimum liquidity ratio of 20 percent if standalone.
AML / KYC
Philippines Will Now Report Cross Border Banking Stats to BIS
By Editors | 17/01/2018
BSP has begun reporting international banking statistics from January 2018, having met BIS standards for completeness and quality.
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