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The Bangko Sentral ng Pilipinas (BSP) is circulating three draft rules on the implementation of the recently-approved Financial Institutions Strategic Transfer (FIST) Act that includes proposed guidelines on eligibility issues and how banks’ soured assets will be treated under the new law.

The proposed circular was on the transfer/sale of non-performing assets (NPAs) to a FIST…

Indonesian financial technology firm Xendit, which aspires to be the Philippines’ digital financial highway, raised a total of US $88 million funds after its latest US$64.6 million Series B round to expand its regional business.

Overall, Xendit has processed over 65 million transactions with US$6.5 billion in payment value annually.

Venture capital firm Accel led the recent…

BANGKO Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno and former Governor Nestor A. Espenilla Jr.’s wife, Maria Teresita led the unveiling rites for the portrait and bust of the late Governor Espenilla, which was held recently at the BSP head office in Manila.

A career central banker, “Governor Nesting,” as Espenilla is fondly called, succumbed…

THE Bangko Sentral ng Pilipinas (BSP) has started asking banks and other concerned parties for their feedback on the draft guidelines of the law that would allow financial institutions to offload soured assets through asset management companies.

The BSP posted on Wednesday three separate draft circulars that will make up the implementing rules and regulations (IRR)…