BANGKO SENTRAL NG PILIPINAS

Crypto / Digital Assets

BSP Grants Virtual Assets Authorisation to GoTyme Bank

By Sanday Chongo Kabange | 30/10/2024

GoTyme is only the second bank to be given authorisation to explore the potential introduction of digital asset services for customers.

BSP Partners German State Firm on Currency Management

By Sanday Chongo Kabange | 29/10/2024

The BSP said it will work with Bundesdruckerei GmbH on currency management and digital payments infrastructure.

AML / KYC

BSP Enters Arbitration Over Philsys Card Printing Delays

By Mark Johnston | 29/09/2024

The proceedings were initiated by AllCard Inc, which was contracted to supply cards and equipment for the production of PhilSys cards.

BSP Revises Framework for External Auditor Selection by FIs

By Editors | 26/09/2024

The BSP has proposed draft revisions to its framework for financial institutions on the selection and appointment of external auditors.

Capital / Liquidity

BSP Announces Significant Cut to Bank Reserve Requirements

By Editors | 24/09/2024

The BSP cut the RRR for universal and commercial banks by 250 basis points, bringing it from 9.5 percent to 7 percent.

Capital / Liquidity

BSP to Cut Bank Bank Reserve Requirements in ‘Substantial’ Way

By Editors | 20/09/2024

Banks in the Philippines have offered to lower transaction costs on small-value fund transfers in exchange for lower reserve requirements.

BSP Authorises Maybank to Launch Islamic Banking Operations

By Sanday Chongo Kabange | 05/09/2024

Maybank is just the second bank authorised to launch Islamic banking operations in the Philippines, after CARD Bank was authorised in June 2023.

Fintech / Regtech

BSP to Closely Scrutinise New Digital Banking Applicants

By Ranamita Chakraborty | 02/09/2024

Fitch Ratings says close scrutiny of the new applicants is likely given that the majority of the existing digital banks are still loss-making.

ESG / Sustainability

BSP, NBC to Cooperate on Payment System Connectivity, Digital Finance

By Sanday Chongo Kabange | 22/08/2024

The central banks will collaborate on payment connectivity, digital finance innovation, AI, cyber security, and sustainable finance.