DOMESTIC BANKS must become more competitive in the face of the entry of more foreign players as well as ongoing regional integration and changes in the global environment, the chief of the Bangko Sentral ng Pilipinas (BSP) said. “Today, the Philippines is an attractive proposition to regional players given its stable economy, sound financial system, …
BSP chief urges domestic banks to become more competitive Read More »
Navigating the New Rural Banking Landscape: Challenges and Opportunities The members of the Rural Bankers Association of the Philippines, headed by newly sworn in President Jose Misael Moraleda, members of the Monetary Board, PDIC President Valentin Araneta, colleagues from the BSP, fellow advocates of rural banking, distinguished guests,… good evening! Once again, on behalf of …
THE BANKING industry could be opened to more offshore financial institutions within the year once a measure permitting full foreign ownership is enacted, a senior Bangko Sentral ng Pilipinas (BSP) official said. With the bill liberalizing the entry and scope of foreign banks in the Philippines “a done deal,” central bank Deputy Governor Nestor A. …
The Bangko Sentral ng Pilipinas (BSP) has approved the application of 15 banks to open more than 80 bank branches. In Circular Letter CL-2014-036, the central bank gave the go signal for 86 new bank-branch office applicants to proceed as planned and begin serving their respective client bases in the first three months of the …
Lenders add 86 more branches under footprint-expansion plan Read More »
To download a PDF Copy, please click on this link: BSP Memorandum M-2014-026
To download a PDF copy, please click on this link: BSP Memorandum No. M-2014-025
To download a PDF copy, please click on this link: BSP Memorandum No. M-2014-024
To download a PDF copy, please click on this link: BSP Circular No. 838
To download a copy of this Circular, please click on this link: c837
To download a PDF copy, please click on this link: BSP Circular No. 836
The Bangko Sentral has revised its key reports required from banks on microfinance (MF) and related accounts to generate a comprehensive and more accurate picture of the scale and scope of banking services delivered to the micro, small and medium enterprises (MSME) in the country. The Monetary Board, in its Res. No. 893 dated 5 …
BSP Revises Reports on Microfinance and Related Accounts in FRP Read More »
Reacting to the rising trend in salary loans in terms of volume and number of accounts, the Monetary Board has approved a new Circular specifically defining salary loans and enhancing the reporting templates used by banks and non-stock savings and loan associations to accurately measure its volume. The BSP defines salary loans as “unsecured loans, …
Pursuant to Monetary Board Resolution No. 783 dated 15 May 2014, Subsection X156.1 of the Manual of Regulations for banks (MORB) is hereby amended as follows: Section 1. The first paragraph of Subsection X156.1 is hereby amended to read, as follows: “X156.1 Banking hours beyond the minimum; banking services during holidays. Banks may, at their …
BSP Circular No: 835: Banking Hours Beyond the Minimum Read More »
MANILA, Philippines – Local banks may now easily extend their banking hours to provide more services to their clients after the Bangko Sentral ng Pilipinas issued new regulations that liberalized operating hours for banks. In a statement, the BSP said it had approved a new framework that makes it easier for banks to extend their …
Pursuant to Monetary Board Resolution No. 690 dated 30 April 2014, Section 6 of Appendix 75c of BSP Circular No. 808 dated 22 August 2013 is hereby amended to include the following: 6. System Acquisition XXX 6.3. TO OPTIMIZE THE USE OF ACQUIRED SOFTWARE AND LIMIT OR MINIMIZE RISKS FROM UNAUTHORIZED OR OBSOLETE SOFTWARE, GUIDELINES …
The mission of the Rural Bankers Association is to support the ability of its members to offer quality banking services to all their constituencies, comply with regulatory requirements, and to promote the welfare of the communities in which they operate.
