Philippines
BSP’s Espenilla: Philippine banking system is ‘very robust’
Central bank to use data-gathering portal to improve services and increase communication with the general public
New leaders take charge at Philippines central bank
New governor pledges to enhance financial inclusion, mitigate cyber-crime risk and fine-tune monetary policy to make it more market-oriented
BSP piles pressure on banks to adopt new chip technology
Philippines central bank imposes “hard deadline” for banks to migrate to EMV technology, as initial target has been missed
Filipinos lack knowledge to make “informed” saving decisions – Tetangco
Survey results highlight the need for improved financial education programme; Philippines central bank to “enhance” outreach initiatives
Philippines deputy nominated as next governor
Duterte selects deputy governor to take over from Tetangco when his term ends in July; Espenilla’s background is in financial supervision and regulation
Philippine president plans to amend law to hand Tetangco third term
Duterte plans to ask Amando Tetangco to stay for third term; finance minister confirms government intends to amend law specifying a two-term limit
Philippines central bank adopts renminbi as reserve asset
Central bank joins a cohort of countries adopting the Chinese currency as a standalone asset; governor says it is an important development for a nation so dependent on Chinese trade
Philippines leads improvement in Brookings financial inclusion rankings
The Central Bank of the Philippines says rapid progress last year reflects the success of its financial inclusion strategy; Brookings report highlights the importance of a wide-ranging approach
People: Philippines and Sri Lanka gain new monetary board members
Finance minister becomes member of Philippines’ monetary board; new joiner for Sri Lankan board; HKMA names executive director for financial infrastructure
Philippines creates financial inclusion steering committee
Central bank will chair the committee, which comprises 12 other government agencies; will follow up on their work creating a national strategy for financial inclusion
Philippines central bank reveals counterfeiting arrests
Central bank says it was behind four successful anti-counterfeiting operations in Q1; has the legal authority to make arrests and seize property
Philippines announces new rate corridor
Central bank will introduce new lending and deposit facilities in June, with interest rates set either side of a lower policy rate
Philippines central bank empowers micro-banking offices
Micro-banking offices can open deposit accounts under new measure; central bank reflects on measures taken to boost financial inclusion in 2015 and challenges ahead
Philippines reserves up by $100m in second quarter
Drop in net foreign lending prompts balance of payments surplus to surge by 145% year-on-year; FDI increases by $424 million, slightly lower than Q2 2014
Philippines central bank expects to hit inflation target
Latest forecasts suggest inflation will return to the lower half of the target range this year, while the risks to the outlook are ‘broadly balanced’
Philippines 5% leverage ratio causes few ripples
Central Bank of the Philippines brings in one of the highest basic leverage ratios globally, but local firms are unconcerned
Philippines central bank raises minimum capital requirements
The Central Bank of the Philippines has raised banks’ minimum capital level while unveiling new credit risk management rules that limit the collateral value of real estate mortgages
Tetangco targets ‘distinct brand’ for Philippines banking
Central bank governor singles out risk management, corporate governance and consumer protection as the ‘fundamental aspects’ of the Philippines’ brand of banking
Philippines achieves ‘meaningful’ progress towards financial inclusion
Central bank assesses state of inclusion in the country; finds 3.6 million new deposit accounts were opened in 2013, while the total value of deposits rose by 32%
Philippines tailors stress tests to real estate exposures
Central Bank of the Philippines approves new prudential guidelines to incorporate in bank stress tests; insists they are preferable to ‘absolute limits’ on real estate exposures
Tetangco looks to promote financial inclusion on Asian research agenda
Philippines governor Amando Tetangco to encourage studies on the interaction of financial inclusion with monetary policy and financial stability as part of the research agenda at BIS Asian office
Philippines central bank backs 'vital’ reforms
Central Bank of the Philippines welcomes plans for $3.3 billion recapitalisation and new mandate; looks set to receive new supervisory powers and monetary policy instruments
Philippines central bank joins financial stability council
Central Bank of the Philippines will join department of finance and three domestic regulators on a joint body designed to ‘identify, manage and mitigate’ build-up of systemic risks
Philippines governor recounts emergency measures after Typhoon Haiyan
Amando Tetangco also says the central bank is well-equipped to deal with financial turbulence in the coming year