BSP looking into bank’s alleged violation of DOSRI rules
THE Bangko Sentral ng Pilipinas (BSP) is looking into a lender’s alleged violation of rules on lending to related parties, BSP Governor Benjamin E. Diokno said.
Peso declines on flight to safety on worries over new infections
THE PESO weakened versus the dollar on Monday on safe-haven demand amid escalating worries over a second wave of infections and as the market priced in the impact of the pandemic on remittances.
T-bill rates may move sideways
RATES OF Treasury bills (T-bills) to be auctioned off this week will likely move sideways as the central bank signaled a pause in monetary easing, with inflation slowing last month.
Kwik.insure to roll out online insurance mart
INSURANCE technology (insurtech) firm Kwik.insure wants to tap more Filipinos via its electronic commerce (e-commerce) platform for insurance products.
Gov’t debt yields end flat
YIELDS on government securities (GS) ended mixed last week as investors tracked auction results amid the lack of fresh leads.
Peso to drop on second wave fears
THE PESO is likely to weaken this week amid risk-off sentiment due to worries over second wave infections that could affect the economy.
BoP excess widest in 15 months
THE COUNTRY’S balance of payments (BoP) position ended at a wider surplus in April amid inflows from government loans secured to respond to the coronavirus crisis.
EastWest Bank looking to hike loan provisions
EAST WEST Banking Corp. (EastWest Bank) is targeting to set aside loan loss provisions worth P10 billion this year as the pandemic continues to hit the economy.
Prudential tops non-life insurers in 2019
Prudential Guarantee & Assurance, Inc. (PGA) remained as the top non-life insurer in 2019 in terms of net premiums written, according to the Insurance Commission (IC).
Rehabilitation Philippines
By Benel D. Lagua
As the government looks for measures that will allow the country to build up from the economic debacle brought about by the COVID-19 pandemic, the message of former President Manuel Roxas comes to mind. Allow me to share the statement of President Roxas on signing the Rehabilitation Finance Corporation (RFC) legislation on Oct. 29, 1946.
Peso returns to P50:$1 level on Fed’s outlook
THE PESO sank back to the P50-per-dollar level on Thursday after the US Federal Reserve said economic recovery will likely come at a slower pace and as investors await announcements on new lockdown measures here at home.
Yields on term deposits drop as offer of 14-day tenor resumes
YIELDS ON THE Bangko Sentral ng Pilipinas’ (BSP) term deposit facility (TDF) continued to slip following its easing moves in the past months to help mitigate the impact of the coronavirus crisis on the economy.