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Banks in ASF, COVID-19-hit areas granted regulatory leeway

Original Post by Prinz Magtulis, as featured in Philstar MANILA, Philippines– Banking regulations were relaxed for lenders located in areas affected by the African Swine Flu (ASF) and Coronavirus Disease-19 (COVID-19), the first time such action was taken by the central bank as a response to health emergencies. The Bangko Sentral ng Pilipinas (BSP) said Tuesday […]

BSP requires banks to implement PESONet, InstaPay by November 2018

Original Post by Louie Diangson, as featured in YugaTech The Bangko Sentral ng Pilipinas (BSP) recently issued a memorandum requiring all BSP-Supervised Financial Institutions (BSFIs) to make fund transfer via PESONet and/or InstaPay available through its e-channels (i.e. internet and mobile) by November 30, 2018. The implementation of PESONet and InstaPay under Memorandum No. M-2018-012, pursuant to […]

Banks Given Two Months to Gear up for InstaPay

Original Post by Melissa Luz T. Lopez, Senior Reporter, as featured in Business World BANKS are given two months to get their online platforms ready to do real-time fund transfers under InstaPay, an industry official said, with only nine banks currently offering the full service. Carmelita R. Araneta, general manager of Philippine Payments Management Inc. (PPMI), […]

The Fight For The $400 Billion Business Of Immigrants Sending Money Home

Original Post by Ben Schiller, as featured in Fast Company A new class of startups is using bitcoin and the blockchain to drastically lower fees as they try to grab a share of the remittance market from old competitors like Western Union. “Dollars wrapped with love.” That’s how Dilip Ratha describes remittances—the money immigrants send home to […]

Bloomberg Launches New Foreign Exchange Solution in the Philippines

Originally Featured in Bloomberg Tri-party ticketing system for brokers and banks will enhance market transparency and trade execution Manila, September 22, 2016 — Bloomberg today announced that it has launched its tri-party ticketing system for the interbank community in the Philippines, providing real-time access to brokered foreign exchange (FX) forward transactions to market participants.  The […]

Central Bank Calls on Financial Institutions to Sign Up on Cybersecurity Sharing Platform

Original post by Reicelene Joy N. Ignacio, Reporter , published on Business World TO HELP strengthen the banking industry’s resilience to cyber attacks, the Bangko Sentral ng Pilipinas (BSP) has ordered BSP-supervised financial institutions (BSFIs) to participate in a cybersecurity sharing platform hosted by the Bankers Association of the Philippines (BAP). “In order to further strengthen […]
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