Bangko Sentral ng Pilipinas

Securities / Derivatives

BSP Bars Bank Affiliates from Holding Bank-Issued Debt

By Editors | 12/02/2020

The prohibition is aimed at preventing related parties from obtaining undue advantage when transacting in debt instruments issued by affiliated banks.

Fintech / Regtech

Philippines, Indonesia Sign MOU on Payments, Digital Innovation

By Editors | 04/02/2020

The MOU aims to provide a framework for closer cooperation between the Philippine and Indonesian central banks to achieve enhance their payment systems and promote digital financial innovation.

Capital / Liquidity

BSP Proposes New Reporting Requirements for Conglomerate-run Banks

By Editors | 03/02/2020

Under draft rules, universal and commercial banks that are part of conglomerates will have to report information on all entities and assets in the conglomerate structure.

Fintech / Regtech

Singapore Fintech Awarded Philippine Licence to Operate Digital Bank

By Editors | 14/01/2020

TONIK Digital Bank will be the first “pure-play” digital bank in Southeast Asia, focusing on retail deposits and consumer loans.

Fintech / Regtech

Philippine Lawmaker Proposes Regulatory Framework for Virtual Banks

By Editors | 08/01/2020

The bill proposes that the BSP grant five virtual bank licences every year for at least five years, and to allow both financial and non-financial firms to apply.

BSP Revises Disqualification Rules for Bank Directors, Officers

By Editors | 07/01/2020

Bankers can be disqualified and placed on a watchlist for causing undue injury, material loss or damage to a bank, or for exposing it to higher risk or danger.

Philippines Adopts Guidelines for Bank Reporting of Intraday Liquidity

By Editors | 07/01/2020

Universal banks, commercial banks and their subsidiary thrift banks and quasi-banks are required to submit the ‘report on intraday liquidity’ by end-June 2021, and every month thereafter.

Market Infrastructure

BSP Extends Registration Deadline for Payment System Operators

By Editors | 30/12/2019

Existing payment system operators were given until 1 January to register with the BSP. This has been extended to 1 April 2020.

AML / KYC

BSP Probes Ten Banks Linked to Westpac AML Violations

By Editors | 19/12/2019

The banks received funds for their clients through the Bank of the Philippine Islands, which was the local partner of the Westpac money transfer service known as LitePay.