Philippines
Philippine banks face tougher cyber rules
The Central Bank of the Philippines wants more complex banks to implement a round-the-clock “security operations centre”
Philippines central bank seeks to allay concerns on FDI slowdown
Foreign direct investment into the Philippines dropped 37.9% in the year to July; government is struggling to meet ambitious growth targets
Low volatility challenges central banks – BSP deputy governor
BSP deputy governor examines the correlation between volatility and uncertainty, and the calibration of monetary policy and macro-prudential policy in the Asean region
Fitch warns Philippines on prudential standards
Real estate sector appears stable but risks could “crystallise” if left unchecked; closer central bank scrutiny may prove inadequate
BSP launches reforms to spur domestic debt market growth
The country aims to develop its domestic capital market to finance its massive infrastructure program; reforms will be undertaken over a period of 18 months
Philippines sees strong ‘hot money’ inflow despite currency weakness
Net inflow of foreign portfolio investments into Philippines hits six-month high, in contrast to weakness in peso
People: Philippines appoints new deputy, Central Bank of Ireland promotes regulators
Philippines central bank appoints new deputy to replace Espenilla, Central Bank of Ireland makes senior appointments in regulation departments following reshuffle, and more
New coins to launch in Philippines in 2017, says deputy governor
Series will integrate new security features akin to those used in banknotes, but 10 cent will not be featured
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