TCC eyes majority stake in BPICTL
TOKYO CENTURY Corp. (TCC) is taking majority ownership of Bank of the Philippine Islands’ (BPI) leasing firm, which is a joint venture with the foreign firm.
Strategic planning in this time of crisis
By Reynaldo C. Lugtu, Jr.
The last decade before the pandemic, we had seen good times in the global and domestic economies. The world gross domestic product growth rate had been hovering in the three percent level. In the Philippines, we had seen a range of six to seven percent growth.
Peso weakens ahead of BSP meeting
THE PESO weakened versus the dollar on Thursday ahead of the central bank’s latest policy decision and after the New York City government ordered schools to close again amid rising cases of the coronavirus disease 2019 (COVID-19) there.
TDF yields mixed ahead of BSP review
YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) ended mixed on Wednesday as the market awaited for the central bank’s latest policy decision.
Negative rate risk, QE overload may push central banks towards yield caps
LONDON — Central banks are delving further into their tool kits to help economies recover from the coronavirus — cue yield curve control (YCC), a form of pinning down borrowing costs that more countries might need to embrace in the months and years ahead.
Banks told to detail plans for transition from LIBOR
THE CENTRAL BANK is requiring lenders to submit reports on their transactions that involve the London Interbank Offered Rate (LIBOR) and their transition to the use of alternative reference rates, with the LIBOR set to be sustained only until end-2021.
China’s credit jitters deepen a sell-off in bonds
THE CREDIT DEFAULT shock waves rippling through China are hurting demand for sovereign bonds, with market watchers seeing the slide lasting the rest of 2020.
Peso climbs vs dollar on US data
THE PESO rebounded against the dollar on Wednesday as drug firms in the United States race to launch vaccines against the coronavirus disease 2019 (COVID-19) and after US retail sales grew slower than expected in October.
Gov’t fully awards 10-year bonds at higher rate
THE GOVERNMENT made a full award of the reissued 10-year Treasury bonds (T-bonds) it offered on Tuesday even as investors asked for higher returns amid a projected uptick in inflation and an uncertain economic outlook.
S&P sees Security Bank’s capital deteriorating as credit costs rise
SECURITY BANK Corp. might see a deterioration in its capital strength over the next two years amid rising credit costs, S&P Global Ratings said.
BSP to conduct maiden consumer payments survey
THE Bangko Sentral ng Pilipinas (BSP) will conduct its maiden consumer payments survey (CPS) to gauge online transactions among Filipinos in line with its target to turn the country into a cash-lite economy.
Peso drops vs dollar on news of vaccine progress
THE PESO weakened versus the dollar on Tuesday despite news of progress in vaccine candidates against the coronavirus disease 2019 (COVID-19) and amid bargain hunting in the local stock market.