The government will settle its debt to the BSP before the new administration, according to Dominguez. Finance Secretary Carlos Dominguez III said that the government will settle its debt to the Bangko Sentral ng Pilipinas (BSP) before the new administration. The country’s finance chief said in an online forum with the Tuesday Club that the … Read more
BSP: “The continued surge in UITFs in terms of both volume and number of participants has propelled the growth of the trust industry.” BSP — The Bangko Sentral ng Pilipinas is set to establish a common framework across the trust industry on benchmark selection as AUM (assets under management) nears the PHP 5-trillion level. According … Read more
BSP: “Our estimates under the output gap could close in the second half of this year and then it will turn positive thereafter.” BSP — The Bangko Sentral ng Pilipinas said that possible normalization in monetary policy may start by the second half of 2022. This, as the output gap caused by the COVID-19 (coronavirus … Read more
Senator Poe: “Ang mababang bayarin ay hindi lamang makakabawas sa kanilang gastusin, kundi mag-uudyok din ng lalong paggamit sa mga e-wallet.” On Friday, Senator Grace Poe has asked for the help of the Bangko Sentral ng Pilipinas (BSP) to urge banks and financial institutions to lower digital payment charges and e-wallet fees. In a statement, … Read more
AMLC teams up with BSP, NBI, and PNP in order to curb vote selling and vote buying. AMLC — The Anti-Money Laundering Council teamed up with the Bangko Sentral ng Pilipinas (BSP), National Bureau of Investigation (NBI), and Philippine National Police (PNP) in order to curb vote selling and vote buying as the Philippines faces … Read more
The Philippine government will start the closer scrutiny of financial conglomerates, according to BSP. BSP — The Bangko Sentral ng Pilipinas said that the Philippine government will start the closer scrutiny of financial conglomerates. BSP Governor Benjamin Diokno said that financial regulators will start their cross-sectoral risk assessment of the country’s financial conglomerates by the … Read more
BSP was currently testing three use cases of a future central bank digital currency. BSP — The Bangko Sentral ng Pilipinas was currently testing three (3) use cases of a future central bank digital currency (CBDC). The central bank was currently testing three (3) use cases of a future CBDC — including securities settlement and … Read more
The BSP was looking forward to implementing pro-consumer laws. BSP — The Bangko Sentral ng Pilipinas was looking forward to implementing pro-consumer laws to benefit the banking public. The central bank was looking forward to implementing two landmark legislations — the Financial Consumer Protection Act (FCPA) and the revised Philippine Deposit Insurance Corporation (PDIC) Charter. … Read more
BSP’s new e-payment rules will ensure the stability of the payments system in the Philippines, according to the BSP chief. BANGKO SENTRAL NG PILIPINAS — BSP Governor Benjamin E. Diokno said that the new e-payment guidelines set by the central bank will ensure the stability of the payments system in the country. In an online … Read more
The BSP was proposing guidelines on the digital financial marketplace. BSP — The Bangko Sentral ng Pilipinas was proposing guidelines on the digital financial marketplace in the country. The central bank was proposing guidelines that will establish the business models and arrangements for the eventual emergence of the digital financial marketplace under the open finance … Read more