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Napiere Abueg Ragsac & Partners
Do you intend of bringing local or foreign currency into or out of the Philippines?
Napiere Abueg Ragsac & Partners
The government passed Republic Act (RA) No. 11765, otherwise known as Financial Products and Services Consumer Protection Act, to ensure that appropriate mechanisms are in place to protect...
SyCip Salazar Hernandez & Gatmaitan
On June 9, 2023, the Monetary Board of the Bangko Sentral ng Pilipinas ("BSP") issued Circular No. 1174, amending the implementing regulations of the mandatory agricultural, fisheries...
Safe (e)money: BSP Updates E-money Regulations, Increases Prudential And Capitalization Requirements
SyCip Salazar Hernandez & Gatmaitan
On February 7, 2023, the Bangko Sentral ng Pilipinas (BSP), the Philippine Central Bank, issued BSP Circular No. 1166, series of 2023, entitled "Amendments to the Regulations on Electronic Money (E-money)...
SyCip Salazar Hernandez & Gatmaitan
On September 5, 2022, the BSP issued BSP Circular No. 1153, series of 2022, entitled "Regulatory Sandbox Framework" (Sandbox Circular) which institutionalizes the Test & Learn (T&L)...
SyCip Salazar Hernandez & Gatmaitan
On September 14, 2022, the BSP issued Memorandum Circular No. 1154, Series of 2022 entitled "Prudential Requirements Applicable to Digital Banks, and Amendments to Relevant Provisions...
SyCip Salazar Hernandez & Gatmaitan
On December 14, 2022, the Bangko Sentral ng Pilipinas ("BSP") issued Circular No. 1163, series of 2022 and amended the miscellaneous rules on deposits under Section 276 of the Manual...
SyCip Salazar Hernandez & Gatmaitan
On 14 September 2020, the National Privacy Commission ("NPC") issued Circular No. 20-01 setting forth the guidelines on the processing of personal data for loan-related transactions.
SyCip Salazar Hernandez & Gatmaitan
On 5 September 2022, and in line with its policy of enabling responsible innovation to promote the development of an inclusive digital financial ecosystem, the Bangko Sentral ng Pilipinas ("BSP") issued...
SyCip Salazar Hernandez & Gatmaitan
On 28 November 2022, the Bangko Sentral ng Pilipinas (the Philippine Central Bank or "BSP") issued Circular No. 1160, series of 2022 (link here) and adopted the Amended Regulations...
SyCip Salazar Hernandez & Gatmaitan
On 28 November 2022, Bangko Sentral ng Pilipinas (the Philippine Central Bank or "BSP") issued Circular No. 1160, series of 2022 (link here) and adopted the Amended Regulations and Guidelines...
SyCip Salazar Hernandez & Gatmaitan
UITFs refer to an open-ended pooled trust funds denominated in pesos or any acceptable currency, which are operated and administered by a trust entity ("TE") and made available by participation.
SyCip Salazar Hernandez & Gatmaitan
BSP Circular No. 1085 defines "E&S risk" as potential financial, legal, and/or reputational negative effect of environmental and social issues on the bank.
SyCip Salazar Hernandez & Gatmaitan
The SBLAF is designed to make the loan application process streamlined and borrower-friendly for its target users, i.e., micro, small, and medium enterprises.
SyCip Salazar Hernandez & Gatmaitan
The required minimum capitalization of digital banks, which must be complied with at all times, is still set at PhP1.0 billion.
SyCip Salazar Hernandez & Gatmaitan
The Bangko Sentral ng Pilipinas ("BSP"; the Philippine Central Bank) issued BSP Circular No. 1149, series of 2022 (Guidelines on the Integration of Sustainability Principles in Investment Activities of Banks).
SyCip Salazar Hernandez & Gatmaitan
Bank of the Philippine Islands (BPI) recently inked two term loan facility agreements amounting to Php 77 billion, enabling the sale of PLDT's telecom towers to international tower operators
Serrano Law
The Bangko Sentral ng Pilipinas (BSP) released on 17 September 2021 BSP Circular No. 1127, adopting the governance policy for operators of payment system (OPS).
SyCip Salazar Hernandez & Gatmaitan
Republic Act No. 11523, also known as "An Act Ensuring Philippine Financial Industry Resiliency
Against the COVID-19 Pandemic" (FIST Act).
SyCip Salazar Hernandez & Gatmaitan
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