Philippine central bank raises capital requirements for rural banks
Rural banks’ association says the measure could hurt banks in low-income areas
The Philippine central bank raised the minimum capital requirements for rural banks to at least 50 million pesos ($880,000) on September 2.
The new requirements are part of the Rural Banking Strengthening Programme (RBSP) aimed at improving the “operations, capacity and competitiveness” of rural banks.
Rural and co-operative banks constitute just 1.5% of the total assets of the Philippine banking system, according to data from the Central Bank of the Philippines (BSP) in 2021. But they are
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