Regulatory Updates

What changed in MORB/MORNBFI for banks and quasi-banks: updated financial intermediary definition, bond and commercial paper issuance rules, and lender-count guidance.

Key ISO 20022 alignment rules for retail payments: messaging data standards, transparency obligations, rulebook governance, and a two-year transition plan.

What’s new in the BSP regulatory relief policy: eligibility, availment windows, borrower relief, reporting duties, and operational flexibilities for calamity-affected banks.

Key updates on PERA UITF access to BSP securities, non-resident limits, reporting duties, and compliance steps for trust entities.

Updates to MORB Islamic banking rules: IBU licensing, supplemental reporting, and liquidity standards for IBs and IBUs.

New BSP rules limit large cash payouts above PHP 500,000, require non-cash channels, and mandate enhanced due diligence and STR protocols.

MORB/MORNBFI updates adopt the Global Master Repurchase Agreement (GMRA) for BSP repo and reverse repo facilities, plus related settlement and check-clearing revisions.

MORB/MORNBFI updates add voluntary perpetual disqualification commitments and clarify watchlist and disqualification file procedures.

AFASA rules for disputed fund holds: triggers, timelines, coordinated verification, reporting, and transition periods for BSIs.

Rules for BSP CAPO inquiries and information sharing under AFASA: scope, request requirements, inquiry orders, disclosure timelines, and safeguards.

IT risk and fraud controls for EPFS: FMS requirements, transaction pause rules, customer protections, and CSO obligations under AFASA.

Updates to FX derivatives rules, electronic submission requirements, and reporting under the FX Manual and MORB.