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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.
Market Infrastructure
ASEAN Pushes for Cross-Border Settlement in Local Currencies
By Editors | 08/04/2019
ASEAN central bankers are setting up direct settlement systems that use local currencies, in a bid to reduce transaction costs and exposures to global volatility.
Crypto / Digital Assets
Philippines Fintech Push Makes it a Compelling Market to Watch
By Philip Keller | 19/03/2019
Industry veteran Philip Keller explores the approach taken by regulators in the Philippines to encourage fintech innovation and financial sector digitalisation.
Capital / Liquidity
Philippines Extends Compliance Deadline for LCR, NSFR
By Editors | 11/03/2019
The BSP has given subsidiary banks and quasi-banks an extra year to meet the 100% LCR and NSFR requirements.
Market Infrastructure
BSP Eyes Oversight Extension to Cover Banking Conglomerates
By Editors | 07/03/2019
The BSP gained sweeping new powers last month, but it did not gain the oversight authority over conglomerates that own or control Philippine banks.
Philippine President Selects Budget Secretary as New BSP Chief
By Editors | 05/03/2019
Benjamin Diokno will replace the late Nestor Espenilla as the new central bank chief. Observers had expected one of the three deputy governors to be named.
Big Picture
S&P Upgrades Philippine Banking System Following New BSP Charter
By Editors | 04/03/2019
The new charter bolsters the BSP’s powers to exercise its core mandate of promoting a sound financial system and address risks arising from the financial system’s interconnectedness.
Fintech / Regtech
BSP Streamlines Licensing Process e-Financial Services Firms
By Editors | 25/02/2019
The move is in line with BSP’s reform agenda to promote digital innovation and increase availability of safer and more efficient channels for financial services.
Market Infrastructure
Philippines Expands Central Bank Supervisory Powers
By Editors | 18/02/2019
Amendments to the BSP’s charter will boost its capitalisation and extend its supervisory remit to all financial institutions in the country.
Philippine Banks Required to Report on Deposit, Loan Rates
By Editors | 08/02/2019
Bank interest rates on loans and deposits will be published to allow consumers to compare costs, and to enhance the BSP’s monitoring and analysis.
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A daily selection of top stories from the Regulation Asia editorial team