Is the New BSP Logo Really Worth Php 52 Million?
In a statement shared on social media, the BSP said the new logo was developed by its in-house team who shared their skills in the process.
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BSP
BSP Approves āDigital Bankā as New Category of Bank
A draft circular stated that the minimum capital requirement for digital banks is Php 1 billion.
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The FATF, Cryptocurrencies, and the Philippines
BitPinas’ introductory article about the Financial Action Task Force or FATF.
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OFW Remittances in January to February Climb to US$5.6 Billion
The Bangko Sentral ng Pilipinas (BSP) reported increased OFW remittances in February 2020 at US$2.62 billion, which is 2.6% higher than what was previously recorded in February 2019.
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Bank Lending Continues to Grow in March 2020
Outstanding loans of banks, net of reverse repurchase placements with the Bangko Sentral ng Pilipinas (BSP), grew by 12.9% in March 2020.
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BSP Notes the Importance of E-Payments During ECQ
BSP noted that the volume of check payments and ATM withdrawals have also decreased, reflecting the effect of ECQ on people’s movement.
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BSP: Soap Destroys Paper Bills, Wash Your Hands Instead
The logical thing to do here is to wash (or put disinfectant on) one’s hand before and after touching paper bills. However, there are reports of peopleĀ washing orĀ disinfecting the bills instead.
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BSP: Remittances to the Philippines Will Drop This 2020
Cash remittances will decline particularly those coming from sea-based OFWs. Many of them have been repatriated already.
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BSP Urges Bank To Make Sure they Can Meet Demand for Increased Digital Banking Transactions
Amid the current public health situation due to COVID-19, digital channels are more important than ever for the customer’s financial needs.
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BSP Encourages Banks to Waive Fees on Interbank ATM Transactions
Banks are encouraged by the Bangko Sentral ng Pilipinas (BSP) to suspend fees on fund transfer services and interbank ATM Transactions.
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