BSP is set to fill up the 5th slot for the position of deputy governor. BSP — The Bangko Sentral ng Pilipinas is set to fill up the 5th slot for the position of deputy governor in order to take charge of the central bank’s expanding presence across the Philippines. On Friday, Monetary Board member … Read more
Diokno: “The BSP continues to explore ML applications that can be useful in the conduct of its key functions.” BANGKO SENTRAL NG PILIPINAS — BSP Governor Benjamin Diokno said that the central bank’s big data use will increasingly apply machine learning (ML) applications or techniques such as natural language processing, nowcasting, and banking supervision. Machine … Read more
BSP: “The new 1000-Piso polymer banknote is only worth its face value.” BSP — On Friday, the Bangko Sentral ng Pilipinas advised the public that the new 1000-piso polymer banknote is not for sale as it releases the banknotes gradually in circulation. The central bank said in a statement that the polymer banknote is “only … Read more
BSP: “The 20-Piso NGC and enhanced 5-Piso coins are legal tenders.” BSP — On Tuesday, the Bangko Sentral ng Pilipinas warned the public against buying the 5-Piso and 20-Piso coins at higher prices from online sellers as both coins are still in circulation. According to the central bank, there were 290.09 million pieces of the … Read more
BSP: “The BSP continuously reminds the public that e-safety is everyone’s responsibility.” BSP — On Monday, the Bangko Sentral ng Pilipinas urged the public to use available security features and to practice cyber hygiene in order to avoid becoming victims of fraudulent activities. The central bank said in a statement that consumers should enable “multiple … Read more
BSP: “We are aware that inflation is likely to remain elevated in the coming months due mainly to domestic and global supply-side pressures.” BSP — The Bangko Sentral ng Pilipinas said that the Philippine consumer prices are expected to go up faster than expected in the second half of 2022 given movements in global prices. … Read more
The BSP warned against NFTs anew. BSP — The Bangko Sentral ng Pilipinas has again flagged the risks of NFTs (non-fungible tokens) and reminded the public that they should be aware of how play-to-earn games work. Following the theft of USD 600 million worth of digital tokens from a digital ledger used by players of … Read more
The BSP may face risks amidst global policy tightening, according to Fitch Solutions. BSP — Fitch Solutions Country Risk & Industry Research said that the Bangko Sentral ng Pilipinas may have to confront risks caused by interest rate differentials if it remains accommodative while major central banks are already tightening monetary policy. Fitch Solutions said … Read more
Banks must improve cybersecurity, according to BSP. BSP — The Bangko Sentral ng Pilipinas is requiring stronger, more adequate IT and cybersecurity risk management practices in non-banks and banks’ use of application programming interfaces (APIs) and its interconnections. On Wednesday, the central bank released Memorandum No. M-2022-016 — a new memorandum for API security controls … Read more
The BSP advised the public to exchange or deposit “unfit” coins. BSP — As part of the central bank’s campaign to promote and improve its use and circulation, the Bangko Sentral ng Pilipinas advised the public to deposit or exchange “unfit” coins. On Wednesday, BSP Governor Benjamin E. Diokno said that proper handling of coins … Read more