Banking Regulations

How much is the capital for lending business in the Philippines? The Registration And Legal Requirements To open a Lending Business In The Philippines. Starting a lending business in the Philippines is a form of a corporation. Therefore, the business will need to be registered with the SEC. In addition, as mentioned, you need a … Read more

What is Basel for banks? The Basel Committee on Banking Supervision (BCBS) is the primary global standard setter for the prudential regulation of banks and provides a forum for regular cooperation on banking supervisory matters. Its 45 members comprise central banks and bank supervisors from 28 jurisdictions. Read more on www.bis.org The Basel Committee on … Read more

What is the FDIC limit for 2021? $250,000 That was back in 1934, and today not much has changed except for the FDIC coverage limit growing by a multiple of 100, from $2,500 to $250,000 as of 2021. Today, FDIC insured banks will cover $250,000 in deposits per account owner / ownership category, per insured … Read more

Are pawnshops under the BSP? The Bangko Sentral ng Pilipinas (BSP) has underscored the role of pawnshops in financial inclusion as it reported that almost a million beneficiaries received their cash aids last year through these entities. Read more on www.manilatimes.net For generations, people have been able to quickly and easily get cash by visiting … Read more

What does good standing mean in banking? A checking account in good standing is defined as one that has regular deposits and is brought to a positive balance at least once every 30 days for a minimum of 24 hours and has no delinquent loans with us, legal orders, liens or levies outstanding. Read more … Read more