PESONet committee eyes improvements to its service to boost digital transactions
THE PESONET Steering Committee is looking at ways to enhance its electronic fund transfer (ETF) service scheme in order to ease digital transactions.
IC streamlines rules on HMO security deposit requirement
HEALTH MAINTENANCE organizations (HMOs) will have to invest security deposits in government entities starting this year, as mandated by the Insurance Commission (IC).
Bill looks to establish virtual bank framework
A SENIOR LEGISLATOR filed a bill on Monday seeking to provide a regulatory framework for virtual banks.
China vows to ‘win’ battle against financial risks
CHINA PLEDGED to step up measures to shore up its troubled banks and small businesses while continuing a crackdown on shadow banking and property speculation, in a difficult balancing act that risks exacerbating a build up in bad debt at its traditional lenders.
Peso rebounds ahead of December inflation data
THE PESO bounced back on Monday after two days of decline against the greenback on profit taking ahead of the release of data showing likely faster inflation in December.
Rates of T-bills, three-year bonds to move sideways ahead of data
YIELDS ON government securities on offer this week will likely move sideways on the back of market repositioning at the start of the year and as investors wait for latest inflation data to be released this week.
Yields on gov’t securities end flat on fresh tensions
YIELDS ON government securities (GS) moved sideways last week amid renewed geopolitical tensions in the Middle East as well as market anticipation of local inflation data and further rate cuts from the central bank.
Peso to weaken further on geopolitical tensions
THE PESO may see continued weakness this week mainly due to geopolitical tensions caused by a US airstrike that killed Iran’s most prominent military official.
Ex-officials of closed rural banks convicted
OFFICIALS of closed rural banks in Visayas have been convicted on charges filed by the Bangko Sentral ng Pilipinas (BSP).
Union Bank wins approval for tier-2 note issue of up to P20-B
UNION BANK of the Philippines, Inc. said it received approval from the Bangko Sentral ng Pilipinas (BSP) to issue up to P20 billion worth of notes.
Closed rural bank’s creditors urged to file claims
CREDITORS of the defunct Maximum Savings Bank have been invited to submit their claims against the bank’s assets, the Philippine Deposit Insurance Corp. (PDIC) said.
Peso weakens sharply on threat of widening US-Iran tensions
THE PESO weakened sharply past the P51-to-the-dollar level following a rush to safe-haven currencies due to the prospect of fresh Middle Eastern tensions after a US air strike killed a senior Iranian military officer while he was in Iraq.