Bangko Sentral ng Pilipinas
The Bangko Sentral ng Pilipinas (BSP) is the central bank of the Philippines.
Philippine regulators amend FX regulations, set penalties
Philippine regulators amend FX regulations, set penalties
A maximum penalty of $17,130 is set for each transactional violation.
How GoTyme kiosks transformed grocery stores into banking hubs
The digital bank onboarded two-thirds of its 3.4 million users through supermarket kiosks.
PH banks’ total assets expanded 9.2% to $439.3b in 2023
Both lending and investing activity grew during the period.
Philippine loan officer fined for violating lending regulations
The officer was an employee of the now closed Ruran Bank of Buguias (Benguet).
PH central bank revokes license of local money changer
Money changer NIKKO reportedly committed “serious violations” of money laundering laws.
Philippine central bank simplifies FX policy for foreign investment registration
Foreign investments can now be registered upon registering at any authorized agent bank.
Philippine bank lending up 8.6% in Feb on higher motor and card loans
Consumer loans grew 25.2% partly due to demand for motor vehicle loans rising.
Brunei, Laos central banks formally join Regional Payment Connectivity Initiative
There are now a total of eight ASEAN central banks in the regional payment link.
Philippine central bank denies issuing directive re “stamped” US dollar notes
It reminded the public to remain vigilant against bogus information.
Philippine bank lending up 7.8% in January: central bank
Salary-based loans and motor vehicle loans pushed consumer loans to a 25.2% growth.
BSP okays adoption of sustainable finance taxonomy guidelines
It has a “traffic light system” in classifying if finance activities are SFTG-aligned.
PH central bank optimistic it’ll achieve digital payment targets
The country aimed to have 50% of all retail payments be digital by end-2023.
Security Bank updates terms for cash mgmt, trade finance solutions enrollment form
Notable changes include stating guidelines for T&C changes and its extent of accountability.
Philippine remittances up 2.9% to $3b in November: central bank
Cumulative personal remittances grew to $33.6b in the first 11 months of 2023.
Former PH finance secretary appointed to monetary board
He joins a seven-member board headed by BSP governor Eli Remolona, Jr.
Philippine bank lending up 7% in November 2023
Loans to production activities rose thanks to a growth in real estate and energy activities.
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