SEC revokes Robocash authority to operate as a financing firm
THE SECURITIES and Exchange Commission (SEC) is revoking the authority it granted Robocash Finance Corp. to operate as a financing company after it was found to be operating branches that do not have a license.
Bank of England seeks investigation into hacked audio feed of briefings
THE BANK of England (BoE) asked regulators to investigate how an audio broadcast of some of its press conferences was misused to potentially give traders an unfair advantage.
Peso inches down ahead of break
THE PESO closed almost flat on Thursday despite news of US President Donald J. Trump being impeached by the US House of Representatives as investors were cautious with the year coming to an end.
TDF yields drop on bets of more rate cuts
TERM DEPOSITS continued to fetch lower yields as the markets brace for the upcoming holidays and as they look forward to 2020, with the central bank eyeing at least 50 basis points (bps) in rate cuts.
Era of low sovereign bond yields to persist well into next year — poll
BENGALURU — Major sovereign debt yields will feel the pull of gravity well into next year, with the US 10-year benchmark barely rising by the end of 2020, according to a Reuters poll of fixed-income strategists.
More Fed officials see little need to change interest rates anytime soon
NEW YORK — Two Federal Reserve policy makers on Tuesday made clear that they back the central bank’s current stance, echoing words by other policy makers last week that interest rates are in a sweet spot heading into 2020 and that the bar to cutting or raising them will be high.
EastWest Bank to exercise call option on P5-B notes
EAST WEST Banking Corp. (EastWest Bank) has secured central bank’s approval of its request to exercise its call option on unsecured subordinated notes worth P5 billion, effective next year.
BSP looking to cut rates by at least 50 basis points
THE CENTRAL BANK will cut benchmark rates by at least 50 basis points (bps) in 2020 as it continues to dial back the 175 bps worth of hikes done in 2018 fueled by a high inflation environment, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.
Singapore digital bank hopefuls must prove they can profit
GRAB HOLDINGS, Inc. and gaming company Razer, Inc. will need to demonstrate how their millions of users can help them generate profits if the two technology firms are to win one of Singapore’s coveted virtual banking licenses.
PHL leads in promoting financial inclusion: EIU report
THE PHILIPPINES is among the leaders in promoting financial inclusion in the world, according to a study.
Peso weakens on better-than-expected US data
THE PESO depreciated against the dollar on Wednesday on better-than-expected data on housing and manufacturing from the United States reported late Tuesday.
About 10 local banks received funds from Westpac
ABOUT 10 LOCAL commercial banks were recipients of funds from scandal-hit Westpac Banking Corp. channeled through the Bank of the Philippine Islands (BPI), the local partner of the Australian bank’s remittance arm, a senior Bangko Sentral ng Pilipinas (BSP) official said.