BSP enhances capital standards for small banks

SMALL banks have until the end of 2021 to comply with the enhanced capital standards approved by its Monetary Board, the central bank announced on Wednesday.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said its Monetary Board approved the amendments to the Risk-Based Capital Adequacy Framework for stand-alone thrift banks (TBs), rural banks (RBs) and cooperative banks (coop banks) “to further enhance the quality of capital of covered banks.”