BANGKO SENTRAL NG PILIPINAS

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    Fintech / Regtech

    BSP Extends Cyber Risk Management Software to All Banks, VASPs

    By Sanday Chongo Kabange | 10/12/2024

    The BSP said it is expanding the use of its cyber risk management software known as ASTERisC* to all banks and VASPs.

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    Crypto / Digital Assets

    BSP Concludes Tests on Streamlining Interbank Payments With CBDC

    By Editors | 06/12/2024

    The BSP said Project Agila testing found that off-hours transactions can safely be supported by open-source DLT through the Oracle Cloud Infrastructure.

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    Crypto / Digital Assets

    BSP Proposes to Enhance Reporting Requirements for VASPs

    By Editors | 26/11/2024

    VASPs must submit 13 reports at specified intervals to ensure thorough oversight. A new reporting portal will be implemented by January.

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    Securities / Derivatives

    BSP to Ease Rules on Cross-Selling Financial Products

    By Sanday Chongo Kabange | 25/11/2024

    The revised regulations will allow the cross-selling of financial products, including insurance and mutual funds, within financial conglomerates.

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    Market Infrastructure

    Philippines Launches Peso Interest Rate Swaps Market

    By Sanday Chongo Kabange | 18/11/2024

    The PESO IRS market will help deepen the capital market, boost trading and liquidity, and promote the development of yield curves.

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    ESG / Sustainability

    BSP Issues Adoption Guidance for Sustainable Finance Taxonomy

    By Sanday Chongo Kabange | 14/11/2024

    The guidelines help banks assess whether economic activities contribute to SFTG environmental objectives and meet the DNSH and other criteria.

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    Enforcement

    BSP to Probe GCash Over Unauthorised Deductions

    By Sanday Chongo Kabange | 12/11/2024

    The unauthorised deductions incident was attributed to a “system error”, but the BSP has vowed to investigate.

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    BSP, Banque de France Sign MOU on Currency Operations

    By Sanday Chongo Kabange | 08/11/2024

    The MOU enables BSP and BdF to share best practices and expertise on currency management and operations, and cooperate on digital payments.

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    Market Infrastructure

    BSP Issues New Operational Resilience Requirements for FIs  

    By Sanday Chongo Kabange | 07/11/2024

    Larger FIs have two years to develop and integrate operational resilience frameworks into their governance structures and risk management processes.

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    ESG / Sustainability

    BSP Invites Indonesia, Malaysia to Explore Philippine Islamic Finance Sector

    By Sanday Chongo Kabange | 07/11/2024

    The BSP has been engaging with FIs in Indonesia and Malaysia about exploring opportunities in the Philippines Islamic finance sector.

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