Tag "Bangko Sentral ng Pilipinas (BSP)"
BSP, PDIC Sign MOA to Streamline Cooperation and Supervision of Bank Deposits
The Bangko Sentral ng Pilipinas (BSP) and the Philippine Deposit Insurance Corporation (PDIC) have updated their cooperative framework through the signing of a Revised Memorandum of Agreement (MOA) on Information Exchange. The event took place at the BSP headquarters in
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BSP Reports Record Highs From Overseas Remittances in the Philippines
In December 2023, personal remittances from overseas Filipinos achieved a record high in the Philippines, reaching US$3.6 billion, an increase of 3.9% from the US$3.5 billion reported in December 2022. This growth, as detailed by the Bangko Sentral ng Pilipinas
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BSP Lauds Rise in Digital Payment Technology in the Philippines
The Bangko Sentral ng Pilipinas (BSP) has reported on the ongoing expansion of digital payment technologies, noting their significant role in enhancing the delivery of financial services to unbanked populations and micro, small, and medium enterprises (MSMEs). This development is
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Digital Banks Engage with BSP to Drive Growth and Foster Open Banking
Digital banks are currently reaching out to the Bangko Sentral ng Pilipinas (BSP), the Philippines’ central bank, in an effort to create collaborative relationships and develop an open banking environment. The purpose of this engagement is to increase borrower engagement
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BSP to Finalise Cross-Border Payments Blueprint, CBDC Report This Year
The Bangko Sentral ng Pilipinas (BSP) is currently finalising a blueprint for instant cross-border payments, which promises to be a competitively priced option in the multinational remittance market. BSP Deputy Governor Mamerto E. Tangonan announced that the BSP is working
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BSP and BAIPHIL Forge Stronger Ties with New MOU
The Bangko Sentral ng Pilipinas (BSP) and the Bankers Institute of the Philippines (BAIPHIL) have recently strengthened their collaboration. At the BSP Head Office in Manila, the two institutions signed a memorandum of understanding (MOU), marking a new chapter in
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BSP Maintains Fee Cap on InstaPay and PESONet, Pushes to Eliminate Cost
The Bangko Sentral ng Pilipinas (BSP) has decided to keep the current cap on fees for InstaPay and PESONet, two key electronic fund transfer systems. PESONet facilitates batch electronic funds transfers while InstaPay offers real-time, low-value digital payment options. Financial
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BSP Greenlights Merger Between BPI and Robinsons Bank
The Bangko Sentral ng Pilipinas (BSP) has approved the merger between Bank of the Philippine Islands (BPI) and Robinsons Bank Corporation (RBC). BPI will emerge as the surviving entity following this merger. This decision follows a series of approvals from
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BSP Unveils Initiatives to Boost Sustainable Finance in the Philippines
The Bangko Sentral ng Pilipinas (BSP) has given the green light to a set of temporary measures aimed at encouraging banks to extend loans or finance green and sustainable projects. These measures also cover transition financing for decarbonisation. Specifically, they
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BSP to Extend Electronic Money Licence Moratorium to End-2024
The Bangko Sentral ng Pilipinas (BSP) is extending the moratorium imposed on the issuance of licences to new non-bank electronic money issuers (EMIs) by another year. BSP Deputy Governor Mamerto Tangonan said the moratorium on the entry of new EMI-non-bank
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