FOREIGN CURRENCY loans disbursed by local banks inched up in the third quarter backed by borrowing firms’ higher working capital requirements paired with lower interest rates.

THE PESO strengthened versus the dollar on the last trading day of 2019 as remittance inflows continued to surge for the holidays and amid risk-on sentiment due to positive news on the US-China trade deal.

TERM DEPOSIT yields were marginally higher on Thursday amid lower bids during the holiday season and following the release of official data which showed a wider budget deficit in November.

UTILITY PAYMENTS and remittance transactions are still done manually by majority of Filipinos, according to a study by Better Than Cash Alliance which recommended an interoperable platform to streamline these inflows.

JAPANESE SHIPPING firm NYK Line’s e-money platform MarCoPay has secured a license to fully operate in time for its launch early next year, which it said will benefit over 200,000 Filipino seafarers.

A balanced and developed finance system will have both well functioning financial intermediaries and market based institutions contributing to the economy’s growth. This is achieved through several channels: (1) acquisition on information about firms; (2) provision of risk-reducing arrangements; (3) pooling of capital; and (4) ease of making transactions. Information gathering is key to monitor the efficiency and productivity of projects. The system increases the pool of available funds and hedging of risks lead to better allocation to productive uses of funds mobilized from savers. With good governance, the financial systems can help to retain domestic savings at home.

THE PESO ended sideways on Thursday as the market opted to stay on the sidelines as the year comes to an end.

THE BANGKO SENTRAL ng Pilipinas (BSP) is set to issue the implementing rules for the country’s Islamic banking law after the Monetary Board (MB) approved two circulars outlining the licensing framework and discussing Shari’ah governance principles, a senior official said.

THE SECURITIES and Exchange Commission (SEC) has approved Grepalife Dollar Bond Fund Corp.’s application for the voluntary revocation of its registration of securities and certificate to sell securities.

CIMB BANK Philippines, Inc. is looking to continue building partnerships from different industries as part of their strategy to build a customer base through platforms users are already familiar with.

BPI FAMILY SAVINGS Bank (BFSB) is looking to expand its credit portfolio by 10-15% next year on expectations of strong demand for housing and auto loans.

ECONOMISTS ARE divided over the likelihood of the Reserve Bank of Australia (RBA) deploying unorthodox policy next year once it runs out of conventional ammunition — though a majority expect it will exhaust interest-rate cuts.