FATF to set first rules on cryptocurrencies
PARIS — The global watchdog for money laundering will set up its first rules on oversight of cryptocurrencies by June, a major step towards creating international standards for an asset currently subject to patchy regulations.
FX purchases still require forms despite liberalized rules − BSP
ALL PURCHASES of foreign currency should still come with corresponding application forms to be submitted to the Bangko Sentral ng Pilipinas (BSP), the regulator clarified, even as it is easing rules on such transactions.
Lingering price concerns push up gov’t debt yields
YIELDS ON government securities went up last week as investors stayed defensive due to inflation concerns.
BSP to require banks to report glitches within two hours
BANKS and other financial firms will soon be required to report cyber attacks and similar technology-related glitches within two hours, following the approval of new rules by the central bank.
Peso recovers to log fresh one-month high
THE PESO recovered on Friday to its strongest rate in over a month, supported by cues for succeeding rate hikes from the central bank coupled with big fund inflows.
China Bank raises $150M via maiden green bond issue
CHINA Banking Corp. (China Bank) has issued $150 million in green bonds to fund climate change mitigation projects.
Small lenders not prepared for shift to digital
SMALLER BANKS in the Philippines are not ready to adopt digital technology in offering financial services due to outdated internal systems, according to an industry report, with low willingness to invest for upgrades.
IC sets rules for web aggregators
THE Insurance Commission (IC) has set new rules for the regulation and supervision of insurance web aggregators.
Ethics: Black, White (or Gray)?
By Flor G. Tarriela
IN celebration of the Golden Jubilee Year of Financial Executives Institute of the Philippines, FINEX launched an ethics book entitled Ethics: Black White (or Gray)? which gathered essays and actual cases from 50 well-known personalities from the government, banking and private sectors.
Peso weakens anew versus dollar
Peso weakens anew versus dollar
Term deposit yields decline on demand
YIELDS FETCHED for term deposits declined this week amid strong demand, with banks willing to park more funds with the central bank even for longer periods.
RCBC sees rollout of digital currency ePiso by next year
RIZAL COMMERCIAL Banking Corp. (RCBC) expects its digital currency to be fully rolled out next year, with the lender still testing the network across various communities.