Bangko Sentral ng Pilipinas

Fintech / Regtech

BSP to Enhance Reporting Rules for Money Services Businesses

By Editors | 06/03/2024

MSBs would also need to notify the BSP within five days of any event which may have a significant negative impact on their business or reputation.

Big Picture

BSP Report Highlights Systemic Risk from Optimism Bias

By Mark Johnston | 26/02/2024

The central bank warns of systemic risks from optimistic market expectations in its 2023 Financial Stability Report.

ESG / Sustainability

BSP Approves Adoption of Sustainable Finance Taxonomy for Banks

By Mark Johnston | 23/02/2024

The first version of the taxonomy focuses on climate change mitigation and climate change adaptation. Future iterations will cover biodiversity and circular economy.

Market Infrastructure

Philippines: BSP, PDIC Enhance Cooperative Arrangements

By Sanday Chongo Kabange | 23/02/2024

Banks will no longer need to submit some prudential reports separately to the PDIC, the BSP said.

Fintech / Regtech

BSP Approves GCash Expansion Services to Overseas Filipinos

By Mark Johnston | 22/02/2024

Filipinos in 16 countries can now send money, pay bills and buy load using the GCash app.

BSP to Ease FX Market Access for Nonresident Investors

By Mark Johnston | 21/02/2024

The BSP will remove the need for foreign investors to submit a registration document to access FX from the domestic banking system.

BSP, Deutsche Bundesbank Sign MOU on Capacity Building

By Mark Johnston | 19/02/2024

Philippines’ BSP and Germany’s Bundesbank signed an MOU to enhance capacity-building efforts through tailored training and advisory services.

Capital / Liquidity

Philippines Mulls Increase to Deposit Insurance Limit – Report

By Editors | 16/02/2024

The PDIC will consult the BSP on whether an increase in the deposit insurance limit would have to be introduced alongside measures to mitigate moral hazard risks.

Crypto / Digital Assets

Philippines Plans to Launch Wholesale CBDC Within Two years

By Nithya Subramanian | 13/02/2024

BSP Governor Eli Remolona said the CBDC will operate on the central bank’s payment and settlement system and not use blockchain or DLT.