Implementation of the CPMI – IOSCO’s Principles
Author : karlyn-bohler | Published Date : 2025-06-27
Description: Implementation of the CPMI IOSCOs Principles for Financial Market Infrastructures on the Philippine Payments and Settlements System PhilPaSS Ms Eleanor S Turaray Acting Director Payments and Settlements Office Bangko Sentral ng
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Transcript:Implementation of the CPMI – IOSCO’s Principles:
Implementation of the CPMI – IOSCO’s Principles for Financial Market Infrastructures on the Philippine Payments and Settlements System (PhilPaSS) Ms. Eleanor S. Turaray Acting Director Payments and Settlements Office Bangko Sentral ng Pilipinas 3 December 2018 Global Payments Week, Kuala Lumpur, Malaysia PhilPaSS The modern real-time gross settlement system of the Philippines installed in year 2002 that handles the settlement of time-critical & large-value financial transactions through the deposit reserves maintained by participating institutions in the BSP. PhilPaSS - SIPS PhilPaSS - SIPS Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers The BSP Payments and Settlements Office Mission The PSO is committed to provide & maintain a robust payment system that will ensure the mitigation of payments-related risks capable of triggering systemic impact on financial systems, institutions & individuals. We resolve to: Ensure strict compliance with rules & regulations covering the operations of PhilPaSS; Implement adequate & effective PhilPaSS business continuity management measures; Observance of international standards on payments & settlements; Continuous advancement of payments processes & procedures to benefit our stakeholders & the economy as a whole. 3rd party assessments; and Compliance to International Standards Regular self-assessments Compliance to International Standards 2005 IMF Assessment 2007 Self-assessment on the 10 Core Principles for SIPS 2014 3rd party assessment on the PFMI 2018 Self-assessment on the PFMI Results of the 3rd Party Assessment Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers Legal Basis & Governance Principles Policy-Making Body BSP DIGITAL PAYMENTS TRANSFORMATION STEERING COMMITTEE Chairperson Deputy Governor, CSS Vice-Chairperson Deputy Governor, FSS Members/ TWG HR IT Financial Supervision & Consumer Protection Monetary Policy PSO PSOD Core IT Specialist Group Economic Research Accounting Implementation of the CPMI – IOSCO’s Principles for Financial Market Infrastructures on the Philippine Payments and Settlements System (PhilPaSS) Ms. Eleanor S. Turaray Acting Director Payments and Settlements Office Bangko Sentral ng Pilipinas 3 December 2018 Global Payments Week, Kuala Lumpur, Malaysia
