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
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