Mercantile Careplans now under IC conservatorship
THE Insurance Commission (IC) has placed Mercantile Careplans, Inc. under conservatorship for failing to comply with the minimum capital requirement for pre-need firms.
BSP streamlines guidelines for voluntary surrender of licenses
THE Monetary Board (MB) has approved streamlined guidelines on the voluntary surrender of banking licenses.
Home Credit to test Hong Kong IPO mart
HONG KONG — Consumer lender Home Credit is poised to offer the biggest test of Hong Kong’s capital markets since China’s Alibaba delayed plans for a $15-billion listing last month because of the political turmoil engulfing the city.
Draghi primes ECB easing seen to test currency defenses
EUROPEAN Central Bank (ECB) President Mario Draghi will test the composure of global policy makers this week as he unleashes a barrage of stimulus to shore up economic growth.
Samurai, Ninja loans boom as Japan’s regional banks hunt for yield
TOKYO — Japanese regional banks are increasingly lending to foreign companies and other borrowers via samurai and ninja loans as they struggle with interest rates stuck at zero and seek to diversify their customer base.
Bill on mandatory lending for MSMEs filed
A MEASURE expanding the mandatory credit to micro, small, and medium enterprises (MSMEs) and imposing stiffer penalties on noncompliant lending institutions has been filed in the Senate.
Peso rises versus dollar on US nonfarm payrolls
THE PESO strengthened against the dollar on Monday on weaker-than-expected US jobs data.
Seven-year bonds may fetch lower yields
SEVEN-YEAR Treasury bonds (T-bond) on offer on Tuesday are seen to fetch slightly lower rates on bets of fresh monetary easing by the central bank later this month and ahead of initial trade talks between the United States and China.
Bank of Japan’s Kuroda says deepening negative rates is among options — Nikkei
TOKYO -- Bank of Japan (BoJ) Governor Haruhiko Kuroda said cutting interest rates further into negative territory is among the bank’s policy options, according to an interview with the Nikkei newspaper published on Friday.
Peso likely to move sideways ahead of US economic reports
THE PESO could move sideways this week ahead of more data releases in the United States.
Fed Chair Powell repeats vow to act ‘as appropriate’
ZURICH -- The US Federal Reserve will continue to act “as appropriate” to sustain the economic expansion in the world’s biggest economy, Fed Chair Jerome Powell said Friday in Zurich, sticking to a phrase that financial markets have read as signaling further interest-rate reductions ahead.
Yields on government debt end higher on profit taking
YIELDS ON government debt securities ended higher last week as profit taking prevailed among market players ahead of the release of August inflation data.