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Feb 04 2021 
BSP sets reporting guidelines on reclassification of debt securities
THE CENTRAL BANK released guidelines on financial reporting for banks that availed of the relief measures last year on classifying debt securities.
Memorandum M-2021-011 signed by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier updated the guidelines for BSP-supervised financial institutions released April last year to allow the reclassification of investments in debt securities…
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Feb 04 2021 
IC sets up online submission portal for insurers
THE Insurance Commission (IC) has set up an online portal where insurers and other concerned financial institutions can submit requests and requirements to the regulator.
Insurance Commissioner Dennis B. Funa has issued Circular Letter 2021-06 creating the online platform “to accommodate electronic submission of requests and reportorial requirements.”
Documents that can be uploaded on the portal include:…
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Feb 04 2021 
BSP to continue digital payments push
THE BANGKO SENTRAL ng Pilipinas (BSP) will continue to encourage a shift to digital payments this year following the surge in electronic transactions seen in 2020 amid the coronavirus disease 2019 (COVID-19) pandemic.
BSP Governor Benjamin E. Diokno said payments from persons to merchants will be available under QR PH this year, which the central bank…
