Philippine central bank raises capital requirements for rural banks

Central Bank of the Philippines
Central Bank of the Philippines
Photo: Patrick Roque/Wikimedia Commons

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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