BSP and NBI are intensifying the crackdown on counterfeiters. BSP and NBI — The Bangko Sentral ng Pilipinas said that the central bank, together with law enforcement agencies such as the National Bureau of Investigation, has been actively conducting joint anti-counterfeiting operations. On Monday, the central bank said that it is pursuing more aggressively the … Read more
BSP said that the 125-piso commemorative coin showcases Dr. Rizal as a “global Filipino hero”. BSP — On Friday, the Bangko Sentral ng Pilipinas said that the order quota for the sale of its 125-Piso commemorative coin honoring Dr. Jose Rizal’s 125th death anniversary has been reached. On Friday, the central bank said that it … Read more
The BSP is encouraging microfinance institutions to pursue digital finance for MSMEs. BSP — The Bangko Sentral ng Pilipinas is encouraging more microfinance institutions to pursue digital finance for agriculture and for micro, small, and medium enterprises (MSMEs). There are 144 microfinance institutions (MFIs) serving 2 million borrowers with a combined PHP 26 billion in … Read more
BSP is reminding banks and non-banks to deal only with licensed gambling businesses. BSP — The Bangko Sentral ng Pilipinas is reminding banks and non-banks to transact only with licensed gambling and online gaming businesses. The central bank is reminding BSFIs (BSP supervised financial institutions) to transact only with gambling and online gaming businesses that … Read more
BSP told banks and financial institutions to work with AMLC. BSP — On Tuesday, the Bangko Sentral ng Pilipinas told banks and financial institutions to work with the Anti-Money Laundering Council (AMLC). The central bank reminded all of its BSFIs (BSP supervised financial institutions) to report and coordinate with AMLC any suspicious transactions following its … Read more
BSP: “Inflation would average between 4.4 and 4.7 percent under the worst-case scenario” BSP — The Bangko Sentral ng Pilipinas sees inflation accelerating and breaching the 2% to 4% target under a worst-case scenario. According to BSP Governor Benjamin Diokno, inflation may accelerate from 4.4% to 4.7% if Dubai crude oil reaches USD 120 to … Read more
BSP has issued the regulatory reporting standards for registered operators of payment systems. BSP — On Friday, the Bangko Sentral ng Pilipinas said that the central bank has issued the regulatory reporting standards for registered operators of payment systems (OPS). The regulatory reporting standards for OPS, according to the central bank, are in accordance with … Read more
BSP is set to increase the required minimum capital for electronic money issuers. BSP — The Bangko Sentral ng Pilipinas is set to increase the required minimum capital for an electronic money issuer (EMI) with transactions of PHP 25 billion or more from PHP 100 million to PHP 200 million. Also, the required capital will … Read more
BSP said that it will not publicly disclose its list of “too big to fail” banks. BSP — The Bangko Sentral ng Pilipinas will not publicly release its list of D-SIBs (domestic systemically important banks) for fear that disclosing the identities of “too big to fail” banks could be viewed as “endorsements”. Banks considered as … Read more
The Philippines is in a “better position” to weather the impact of geopolitical crises, according to BSP. BSP — The Bangko Sentral ng Pilipinas said that the Philippines is in a “better position” to weather the impact of geopolitical crises. BSP Governor Benjamin Diokno said that the country is in a “better position” to weather … Read more