Asian financial firms face ‘benchmark-aggedon’ as tough EU rules take effect
HONG KONG — Banks and asset managers that use Asian benchmarks like the Hang Seng or Nikkei indices face a “perfect storm,” with two major regulatory changes slated to take effect the same day, a financial industry group said on Tuesday.
Rates of T-bills, bonds may move sideways ahead of inflation data
RATES of government securities on offer this week are expected to move sideways with a slight upward bias as the market awaits April inflation data and the result of the US Federal Reserve’s policy meeting on May 3-4.
BDO boosts loan loss provisions by P20 billion
BDO UNIBANK, Inc. has increased its loan loss provisions to P22.1 billion as it factored in the impact of the coronavirus disease 2019 (COVID-19) and the government’s lockdown measures.
ABIC settles 2nd payment for PNB’s nonlife arm
ALLIED BANKERS Insurance Corp. (ABIC) has settled its second payment for its purchase of Philippine National Bank’s (PNB) nonlife insurance arm PNB General Insurers Co., Inc. (PNBGen).
Gov’t fully awards T-bonds, reopens tap facility
THE GOVERNMENT made a full award of the 10-year Treasury bonds (T-bond) it auctioned off on Tuesday and opened its tap facility once more to take advantage of overwhelming investor demand.
BSP outlines application process for COE to sell assets under FIST Law
THE CENTRAL BANK has released rules to guide financial institutions on the process of securing a certificate of eligibility (COE) for the nonperforming assets (NPAs) they seek to offload through Republic Act (RA) 11523 or the Financial Institutions Strategic Transfer (FIST) Law.
Peso declines further vs dollar on ongoing US-China trade war
THE PESO weakened against the dollar on Tuesday as market players flocked to the greenback for safety amid persistent uncertainty on the trade negotiations between the United States and China.
Peso to weaken as Trump slaps tariffs on China, Mexico, Canada
THE PESO could weaken against the dollar this week after US President Donald J. Trump slapped tariffs on Canada, Mexico, and China.
The local unit...
Credit rating a barrier for shadow banks
LENDERS trying to break into the booming private debt markets by wooing insurance companies may face an unexpected barrier to entry: credit ratings.
Rates of T-bills, bonds may end mixed after slower Q3 growth
RATES of the Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week could end mixed amid expectations of further rate cuts by...
LANDBANK hikes LGU loan package to P20 billion
LAND BANK of the Philippines (LANDBANK) has doubled its lending to local government units (LGUs) to P20 billion to help them weather the impact...
EastWest Bank not looking to sell soured assets via FIST Law
EAST WEST Banking Corp. (EastWest Bank) President and Chief Executive Officer Antonio C. Moncupa, Jr. said the bank is “not very keen” on availing of the provisions of the Financial Institutions Strategic Transfer (FIST) Law as they remain in a stable position.