BANGKO SENTRAL NG PILIPINAS

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    Securities / Derivatives

    BSP Amends Rules for Banks on Equity Divestments

    By Sanday Chongo Kabange | 21/08/2024

    The amended rules clarify expectations for banks to divest equity investments that are prohibited under applicable laws and regulations.

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    ESG / Sustainability

    BSP Calls on Lenders to Do More to Support Climate Action

    By Sanday Chongo Kabange | 19/08/2024

    The BSP said green finance “has yet to fully take off” and that lenders need to do more to support climate action efforts of enterprises and households.

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    AML / KYC

    BSP Mandates Acceptance and Verification of Digital IDs

    By Ranamita Chakraborty | 14/08/2024

    Financial institutions in the Philippines must now accept all national ID formats, including digital IDs, after verifying its authenticity.

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    Fintech / Regtech

    BSP to Start Accepting New Digital Bank Applications in January

    By Sanday Chongo Kabange | 09/08/2024

    The BSP will lift the moratorium on granting new digital bank licences starting 1 January 2025. Only four new licences will be granted.

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    Market Infrastructure

    BSP Unveils 5yr Financial Services Cyber Resilience Plan

    By Sanday Chongo Kabange | 08/08/2024

    The plan set out key goals, priority actions and milestones to be achieved between 2024 to 2029 to enhance industry resilience against cyber threats.

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    BSP Launches New Online Financial Literacy Initiative

    By Sanday Chongo Kabange | 07/08/2024

    The ‘BSP E-Learning Academy’ seeks to broaden the reach of financial education and strengthen consumer protection.

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    AML / KYC

    The Case for Change: Leveraging GenAI in Anti-Financial Crime

    By Bradley Maclean | 07/08/2024

    GenAI’s emergence will revolutionise financial crime prevention, but a balanced approach that includes strict oversight will be key to maximising its benefits.

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    Fintech / Regtech

    BSP Amends Guidelines for Payments Settlement Systems

    By Sanday Chongo Kabange | 01/08/2024

    The BSP said the revised guidelines provide operational flexibility to ACHs under the NRPS framework namely InstaPay and PESONet.

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    AML / KYC

    Regulating GenAI: New Tools, Old Challenges

    By Bradley Maclean | 30/07/2024

    Striking the right balance between automation and human expertise is vital to ensure the effective use of GenAI technology.

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    Fintech / Regtech

    BSP Set to Reopen Applications for Digital Bank Licences

    By Sanday Chongo Kabange | 30/07/2024

    BSP Governor Eli Remolona said a circular would be released “soon” indicating when the application window will be reopened.

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