HALISTER1: Tetangco Eyes More Banking Reforms in Last Months of Second Term

Tetangco Eyes More Banking Reforms in Last Months of Second Term

(Bloomberg) -- Bangko Sentral ng Pilipinas Governor Amando Tetangco is planning more reforms in banking system in last months of his second term as central bank chief, he tells reporters in Manila.
  • Philippines must strengthen law against money laundering, and can make headway in expanding covered institutions and adding more predicate crimes to laundering like tax evasion
  • Tweak in banks’ reserve requirement ratio is a live policy reform and remains on the table
  • Tetangco seeks to broaden access to and affordability of financial services, strengthen good governance in banks particularly in managing conflict of interest, improve risk governance; to strengthen central bank’s oversight of non- bank institutions to boost consumer protection
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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BSNZ PM (Bangko Sentral ng Pilipinas)

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Amando Tetangco (Bangko Sentral ng Pilipinas)

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