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Capital / Liquidity
Philippine NSFR Rules May Raise Funding Costs For Banks – Fitch
By Garima Chitkara | 12/07/2018
In a report by Fitch unit BMI Research, large banks in the Philippines may need to increase deposit taking and reduce long-term loans as a result of increased funding costs brought on by the new NSFR framework.
Fintech / Regtech
BSP Approves Two More Virtual Currency Exchanges
By Garima Chitkara | 12/07/2018
Virtual Currency Philippines and Etranss accredited by the BSP bringing the total number of virtual currency exchanges in the Philippines to five.
Capital / Liquidity
Philippines Banking Sector Gets Rating Lift from S&P
By Karen Chiu | 15/06/2018
S&P Global Ratings cites economic activity, fiscal policy, low credit risks, stringent regulation and favourable operating environment for well-capitalised banks.
Capital / Liquidity
The Philippines Adopts NSFR For Large Banks
By Garima Chitkara | 07/06/2018
Banks given six months starting 1 July to start reporting NSFR; banks unable to meet the ratio will need to submit funding plan to the central bank.
Capital / Liquidity
Philippines Further Reduces Reserve Requirements
By JP Reimann | 28/05/2018
The 100 basis point RRR reduction is expected to help facilitate healthy price discovery on the cost of funds in the financial system.
Fintech / Regtech
Philippine Central Bank Establishes Fintech Regulatory Unit
By Garima Chitkara | 14/05/2018
New unit established under financial supervision section as part of an organisational restructuring at the central bank.
Capital / Liquidity
Philippines to Implement New Credit Card Law
By Garima Chitkara | 07/05/2018
New law aims to increase competition by allowing non-bank entities to enter credit card business; includes greater safeguards for borrowers related to calculation of charges, unfair collection practices, and the use of customer data.
Fintech / Regtech
Philippines Launches Real Time E-Payments Platform InstaPay
By JP Reimann | 24/04/2018
Philippine central bank launch of InstaPay will enable real-time electronic fund transfers up to PHP50,000 per day through 20 participating institutions.
AML / KYC
Philippines Targets Retail Finance Digitalisation
By Garima Chitkara | 19/04/2018
BSP governor laid out the central bank’s regulatory priorities in fintech and regtech while revealing regulation around AML/KYC requirements and mitigating the risks surrounding data security.
Fintech / Regtech
Philippines to Strengthen Supervision Through Regtech
By Editors | 05/04/2018
BSP to adopt regtech solutions including API for electronic data submissions by FIs, chatbot for complaints to the regulator.
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