Twelve executives of the Bangko Sentral ng Pilipinas (BSP) were the top highest paid government officials in 2023, the Commission on Audit (COA) said In its 2023 Report on Salaries and Alloances made public last May 2, COA said that BSP Governor Governor Eli M. Semolina Jr. is now the...
The Bangko Sentral ng Pilipinas (BSP) is tightening its monetary penalty system on erring banks by imposing a maximum P1 million for each transactional violation or P100,000 per business day for continuing offense. The previous monetary penalty for banks and/or their directors and officers was...
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) has issued an advisory warning banks and non-banks to be alert and detect clients or customers that are engaged in illegal online gambling and to report these activities to the proper government agencies including the central bank. BSP memo (Circular Letter No....
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The Bangko Sentral ng Pilipinas (BSP) is allowing universal and commercial banks to electronically submit six foreign exchange (FX) transaction documents to lessen risks of COVID-19 transmission in the handling of hardcopy. Based on a new memo (BSP Memorandum Order No. M-2020-089) that BSP Deputy...
It has come to this. The Bangko Sentral ng Pilipinas (BSP) wants to make public their enforcement actions and criminal cases against erring banks and other supervised entities in the name of transparency and market discipline, deter banks...
The central bank’s guidelines on the establishment of digital banks is expected to be approved this month, according to a Bangko Sentral ng Pilipinas (BSP) official. BSP Deputy Governor Chuchi G. Fonacier (Bloomberg file photo) BSP Deputy Governor Chuchi G. Fonacier said the circular will be...
