Filipinos trapped in nightmare by online loan sharks
MANILA — Melissa thought her financial troubles would disappear with just a few clicks in a Philippines online lending app that promised “fast cash.”
Without...
SWIFT, top global banks to work on blockchain-based overhaul
LONDON — Global financial messaging network SWIFT and more than 30 global banks announced on Monday they were now working “at pace” on making...
T-bill yields may drop as market eyes BSP, Fed
RATES for the Treasury bills (T-bills) to be auctioned off this week could continue to go down to track yield movements at the secondary...
Peso may stay weak as Fed cut bets ebb
THE PESO may see sustained weakness against the dollar this week after stronger-than-expected US economic data led to reduced bets of US Federal Reserve...
BSP bills’ rates rise on weak demand
YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) short-term securities inched higher on Friday as both tenors went undersubscribed after the offer volume was...
Yields on gov’t debt end mixed amid volatile trade
YIELDS on government securities (GS) traded at the secondary market ended mixed last week amid a rise in US yields and a weakening peso...
SSS partners with UnionBank for micro loan program
THE SOCIAL SECURITY System (SSS) has partnered with Union Bank of the Philippines, Inc. (UnionBank) to launch a micro loan program to help boost...
Fed’s Miran presses case for fast rate cuts, but other policymakers push back
The Federal Reserve's newest policymaker, Stephen Miran, continued on Thursday to press for sharp US interest-rate cuts to prevent labor market collapse, saying his...
Peso breaches P58 amid flood probe, Fed signals
THE PHILIPPINE PESO slumped past the P58-a-dollar mark on Thursday as a widening corruption scandal over state flood control projects weighed on sentiment and hawkish signals from the US Federal Reserve supported the greenback.
BSP says no bank runs as AMLC freezes 700 assets linked to flood scam
THE BANGKO SENTRAL NG PILIPINAS (BSP) said there has been no sign of bank runs despite the freezing of more than 700 accounts and assets linked to the multibillion-peso fraud in government flood control projects.
BSP sets Nov. 30 deadline for digital bank license applications
THE BANGKO Sentral ng Pilipinas (BSP) said it would stop accepting applications for digital bank licenses after Nov. 30, following the moratorium on licensing...
SC: Banks liable for moral damages due to negligence
BANKS may be held liable for moral damages arising from negligence, even without proof of bad faith or malice, the Supreme Court (SC) has...