US EditionBSP Preparing New Guidelines for Smaller ‘Digital-Centric’ Banks - BusinessWorld Online
METRO MANILA, PHILIPPINES, JUL 15 – The Bangko Sentral ng Pilipinas aims to apply consistent capital and prudential rules to hybrid and digital banks to ensure fair competition, with phased higher standards planned.
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BSP wants equal rules for hybrid, purely digital banks
MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) wants small lenders with hybrid virtual and traditional banking models to meet the same standards as digital banks to ensure a level playing field. Speaking to members of the Chamber of Thrift Banks (CTB) on Tuesday, BSP Deputy Governor Chuchi Fonacier said the central bank was […]...Keep on reading: BSP wants equal rules for hybrid, purely digital banks
BSP preparing new guidelines for smaller ‘digital-centric’ banks - BusinessWorld Online
THE BANGKO SENTRAL ng Pilipinas (BSP) is planning to issue a draft circular within the year to establish guidelines to assess the “digital centricity” of smaller banks. “We just want to provide a level playing field because there are digital banks, and there are also digital-centric conventional banks. So, we need to level the playing field, that’s why we also would require some more capital from those doing the work. So, the guidelines will als…
BSP To Release Enhanced Digital-Centric Policy Within 2025
Enhanced guidelines on digitalization among Philippine banks will be released within the year to level the playing field, a Bangko Sentral ng Pilipinas (BSP) official said Tuesday. BSP Deputy Governor Chuchi Fonacier, in her speech during the Chamber of Thrift Banks (CTB) convention in Makati City on Tuesday, cited the rising number of banks that adopt digital platforms to provide better services and products. Citing BSP data, she said about 73.…
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