Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said they are about to issue “second-phase regulation” to make the banking sector more responsive to risks in transitioning to a low-carbon economy including climate change scenarios. “Banks may gradually consider the future...
The central bank is not reimposing any limit on foreign borrowings by government and private sector at this time despite a projected increase in foreign debt. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said there is no need for the BSP to cap foreign borrowings as limits on...
Seventeen Asian countries including the Philippines have increased pre-emptive talks on how to deal with the diverging levels of COVID-related recoveries between advanced or rich economies such as the US and emerging markets. “The questions have sharpened as we now see clearer, but...
The Bangko Sentral ng Pilipinas’ (BSP) ambitious financial education (fin-ed) initiative is estimated to reach almost 60 million Filipino adults and students to be financially healthy and resilient especially in times of financial shocks such as during a public health crisis, according to BSP...
The central bank’s stricter policy on banks’ screening of its new hires and other human resource-related practices should decrease the number of blacklisted and watchlisted bankers and employees, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “It’s hard to...
The Bangko Sentral ng Pilipinas (BSP) is extending and adding other relief measures to ensure the uninterrupted operation of both banks and non-banks amid the COVID-19 public health crisis. BSP Governor Benjamin E. Diokno said these enhancements to operational relief measures allow BSP supervised...
The inter-agency Financial Stability Coordination Council (FSCC) could do more defensive strategy to support its monitoring of systemic risks and policy interventions to preempt any more COVID-19 shocks in the financial system. “We see the surveillance or monitoring as a very important core...
The Bangko Sentral ng Pilipinas (BSP) has set up a Research Academy that will boost BSP’s readiness to handle, keep track of, and regulate digital currencies and artificial intelligence (AI). “The BSP is looking at the implications of new technologies such as digital currencies and AI on the...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno expects to have two online-only banks with digital bank license to start operation by the second half of 2021, including Overseas Filipino (OF) Bank. Diokno said another two new digital banks with no existing banking license from the BSP...
The Bangko Sentral ng Pilipinas (BSP) will allow banks to have a higher single borrower's limit (SBL) of 30 percent until end-December this year, and to reclassify bad loans reporting pending the full operationalization of the Financial Institutions Strategic Transfer (FIST) Act. These amendments...
The Bangko Sentral ng Pilipinas’ (BSP) five-only digital banks is not a long-term limit and can be lifted depending on demand and requirement, according to BSP Governor Benjamin E. Diokno. “At the moment our policy is to consider among applicants the top five banks that we are willing to...
The Bangko Sentral ng Pilipinas (BSP) will require domestic systemically important banks or D-SIBs to submit independently their recovery plans and Internal Capital Adequacy Assessment Process (ICAAP), and to ensure these documents have consistency and coherence. BSP Governor Benjamin E. Diokno...
