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
The BSP was looking to set up a credit facility to boost green loans. BSP — The Bangko Sentral ng Pilipinas was looking to set up a credit facility in order to boost green loans. The BSP was looking to set up a separate credit facility that will urge lenders to provide sustainable financing. In … Read more
BSP and COMELEC signed an escrow deal for the safekeeping of the 2022 election source codes. BSP and COMELEC — On Monday, officials of the Bangko Sentral ng Pilipinas and the Commission on Elections signed an agreement for the safekeeping of the automatic election system (AES) source codes which will be used for the 2022 … Read more
BSP will not demonetize 20-piso banknotes, according to Diokno. BANGKO SENTRAL NG PILIPINAS — BSP Governor Benjamin E. Diokno said that the central bank will not demonetize the 20-piso banknotes and it will continue to co-exist with the 20-piso coin version. According to the BSP chief, there’s no demonetization of 20-piso banknotes and the central … Read more
The BSP was planning to circulate more polymer banknotes in different denominations. BSP — The Bangko Sentral ng Pilipinas was planning to circulate more polymer banknotes in different denominations if the public will adapt well to the first batch of polymer 1,000-piso banknotes. BSP Governor Benjamin E. Diokno said that the shift to polymer banknotes … Read more
The BSP wanted stiffer sanctions and penalties against coin hoarders and counterfeiters. BSP — The Bangko Sentral ng Pilipinas was proposing a more rigid package of sanctions and penalties against currency counterfeiting and to criminalize the stockpiling of large amounts of coins. According to BSP Governor Benjamin E. Diokno, they’re currently conducting preparatory work, which … Read more
Senator Grace Poe: “The burden of distinguishing counterfeit bills emanating from banks from genuine ones should not be placed on depositors.” GRACE POE — The senator said that depositors shouldn’t shoulder the responsibility of recognizing fake bills from ATMs (automated teller machines). This, after the Bangko Sentral ng Pilipinas (BSP) urged the public to regularly … Read more