LANDBANK to boost lending to agriculture
LAND BANK of the Philippines (LANDBANK) said Mindanao will receive the biggest chunk of the bank’s loans, with the region having the biggest agricultural area in the country.
Liquidity growth steady in June despite RRR cuts
MONEY SUPPLY growth remained steady amid slightly lower demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday, even as the central bank trimmed lenders’ reserve requirement ratios (RRR).
Credit Suisse defies bank gloom with new money, trading gains
CREDIT SUISSE Group AG brushed off the gloom in European bank earnings as wealthy clients added new money and revenue from securities trading rose in a quarter in which peers posted declines.
Singapore Life looking to enter Philippine market
SINGAPORE LIFE, a multinational, digital-only life insurance company, is expected to enter the Philippines soon, according to a senior official of the Philippine Life Insurance Association (PLIA).
Peso ends flat vs dollar ahead of Fed decision
THE PESO was steady against the dollar on Wednesday as market participants stayed on the sidelines ahead of the conclusion of US Federal Reserve meeting.
Gov’t makes full award of 20-year bonds
THE GOVERNMENT made a full award of the reissued 20-year Treasury bonds (T-bond) it offered yesterday amid healthy demand as market participants await the policy decision of the local and US central banks.
BoJ keeps policy steady, hints at more easing if inflation sputters
TOKYO — The Bank of Japan (BoJ) held off on expanding stimulus on Tuesday but signaled its readiness to do so “without hesitation,” if a global slowdown jeopardizes the country’s economic recovery.
PBB raises P3 billion via notes
PHILIPPINE Business Bank (PBB) raised P3 billion in fresh funds via a corporate note issuance to support its consumer loan business.
Barclays, JP Morgan among banks facing UK rigging suit
LONDON — Barclays, JP Morgan, RBS, UBS and Citigroup are being sued by investors over allegations they rigged the global foreign exchange market, in a test of US-style class actions in Britain.
Fed’s regional structure aids policy independence
THE FEDERAL Reserve’s unique structure helps preserve monetary policy independence, according to a new academic study that comes at a time of heightened tensions between the White House and the central bank.
Asset bubbles to zombie companies: the dark side of interest rate cuts
WARREN BUFFETT’S warning that you only learn who’s swimming naked when the tide goes out is hardly heard these days as waves of easy monetary policy wash over the world’s financial markets.
Peso rebounds ahead of Fed review
THE PESO recovered on Tuesday as market players sold dollars to take position ahead of a possible interest rate cut by the US central bank.