Implementation of the CPMI – IOSCO’s Principles
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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slide1. 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<br>
slide2. 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<br>
slide3. PhilPaSS - SIPS<br>
slide4. Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers<br>
slide5. 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.<br>
slide6. 3rd party assessments; and Compliance to International Standards Regular self-assessments<br>
slide7. 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<br>
slide8. Results of the 3rd Party Assessment<br>
slide9. Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers<br>
slide11. Legal Basis & Governance Principles<br>
slide12. 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<br>
slide13. 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<br>
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<br>
slide2. 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<br>
slide3. PhilPaSS - SIPS<br>
slide4. Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers<br>
slide5. 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.<br>
slide6. 3rd party assessments; and Compliance to International Standards Regular self-assessments<br>
slide7. 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<br>
slide8. Results of the 3rd Party Assessment<br>
slide9. Participants in PhilPaSS Financial Institutions BSP Departments 3rd Party Payment System Providers<br>
slide11. Legal Basis & Governance Principles<br>
slide12. 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<br>
slide13. 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<br>