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Rising startup SquidPay licensed as an e-money issuer by the BSP

SQUIDPAY TECHNOLOGY INC. can now operate as an e-wallet after obtaining its Electronic Money Issuer (EMI) license from the Bangko Sentral ng Pilipinas (BSP)...

Term deposit yields mixed on GDP

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) ended mixed on Wednesday following the release of third-quarter gross domestic product (GDP) data.

Diokno sees economy returning to pre-COVID standing by 2022

THE PHILIPPINE economy might take two years to return to its pre-pandemic level, Bangko Sentral ng Pilipinas Governor (BSP) Benjamin E. Diokno said on Thursday.

Banks reducing risks, costs amid pandemic

BANKS are employing prudential strategies to weather the impact of the coronavirus pandemic, such as reducing exposures to segments deemed vulnerable and cutting operational costs, a report from the Bangko Sentral ng Pilipinas (BSP) said.

BSP to start gathering data for small-business credit system

THE Bangko Sentral ng Pilipinas (BSP) said it will begin work this month compiling a credit risk database (CRD) that will help banks more easily evaluate the creditworthiness of small businesses and wean lenders away from requiring excessive collateral cover.

Term deposit yields inch higher as demand shifts to longer tenor

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday on expectations of faster October inflation.

BSP exploring supply chain financing for MSMEs

THE Bangko Sentral ng Pilipinas (BSP) is evaluating a plan to provide financing to micro-, small-, and medium-sized enterprises (MSMEs) that belong to the supply chains of larger firms, easing their collateral requirements by leveraging the superior credit profiles of their major customers.

NG outstanding debt drops to P9.37 trillion

THE National Government’s (NG) total outstanding debt stood at P9.369 trillion at the end of September, 2.6% down from the previous month after the repayment of its short-term loan from the Bangko Sentral ng Pilipinas (BSP).

Yields on term deposits climb ahead of US vote

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) rose on Wednesday ahead of the US elections where investors expect the Democrats to win the presidency.

Diokno sees signs of recovery, disinclined to ease further

MANILA — The Philippine central bank does not see an immediate need to ease monetary policy further given the slew of indicators that point towards economic recovery from the contraction caused by the coronavirus pandemic, its governor said on Tuesday.

Term deposit yields inch higher as demand slows

YIELDS ON term deposits offered by the Bangko Sentral ng Pilipinas (BSP) were higher on Wednesday, tracking rates of US government bonds on hopes for a fresh stimulus to prop up the world’s largest economy amid the coronavirus pandemic.

BSP to carefully assess timing of unwinding its easing measures

THE central bank will carefully gauge the appropriate timing of unwinding its aggressive policy measures, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said.

Tighter monetary policy affects smaller rural banks more — study

RURAL BANKS with a lower asset base are likely to be more affected by tighter monetary policy, especially in terms of lending, a study by the Bangko Sentral ng Pilipinas (BSP) found.

Gov’t seeks P540B advance from BSP

THE National Government (NG) is asking the Bangko Sentral ng Pilipinas (BSP) for P540 billion in additional financial assistance to help plug the widening budget deficit due to the coronavirus disease 2019 (COVID-19) pandemic.

Yields on term deposits inch up ahead of inflation data, BSP...

YIELDS ON term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) mostly rose on Wednesday, with the market expecting a slightly faster increase in commodity prices.

BSP liquidity support for economy estimated at P1.5 trillion

LIQUIDITY INJECTED into the economy by the Bangko Sentral ng Pilipinas (BSP) via monetary policy measures has amounted to about P1.5 trillion, BSP Governor Benjamin E. Diokno said.

BSP to hold rates at record low — poll

THE Bangko Sentral ng Pilipinas (BSP) is widely expected to leave benchmark interest rates untouched on Thursday, as it reserves its measures in case economic recovery lags, analysts said.

BSP likely to keep policy steady

THE GOVERNMENT should prioritize measures to contain the coronavirus pandemic as it looks towards economic recovery, with the Bangko Sentral ng Pilipinas (BSP) likely done easing policy to stimulate activity, the International Institute of Finance (IIF) said.

Yields on term deposits inch up as BSP sets first bond...

YIELDS ON the term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) mostly inched up on Wednesday amid an increase in bond supply in the market, with the central bank set to make its maiden issue of securities next week.

Wirecard’s Philippine business partners under probe, FT says

Philippine regulators are investigating Wirecard AG’s local partner businesses which could establish the full extent of the country’s exposure to one of Europe’s worst accounting scandals, the Financial Times (FT) reports.

Our new normal should be a green one—WWF

Atty. Angela Ibay, WWF-Philippines Head of Climate and Energy, opines that we have what it takes to make our post-COVID world a sustainable one. Here are her three arguments for a greener normal.

Naga rural bank turns in banking license

A RURAL bank in Bicol has been permitted to voluntary surrender its banking license, according to the Bangko Sentral ng Pilipinas (BSP).

Peso gains as BSP boosts small banks’ liquidity

THE PESO appreciated against the greenback on Wednesday before the Holy Week break on the back of positive sentiment due to the central bank's...

Current account deficit shrinks in 2019

THE country’s current account deficit shrank to $464 million in 2019, due to “lower trade in goods deficit combined with higher net receipts in the trade in services, and in the primary and secondary income accounts, the Bangko Sentral ng Pilipinas said on Friday.

BSP outlines additional relief measures for banks

THE CENTRAL BANK is giving additional regulatory to financial institutions, including the imposition of a higher single borrower’s limit (SBL), removing penalties for reserve deficiencies, and providing leeway for some notification requirements amid disruptions caused by the coronavirus disease 2019 (COVID-19).

Rediscount rates down following BSP cut

REDISCOUNT RATES have been lowered following the latest rate cut from the Bangko Sentral ng Pilipinas (BSP) and as part of the central bank’s additional regulatory relief for financial institutions due to disruptions caused by the coronavirus disease 2019 (COVID-19) outbreak.

BSP slashes rates to counter virus

THE Bangko Sentral ng Pilipinas (BSP) fired a widely expected rate cut on Thursday to shield the economy against the impact of the coronavirus disease 2019 (COVID-19) outbreak, joining central banks around the world that have eased to help boost activity amid an expected slowdown.

Bangko Sentral net income slips at end-November

THE CENTRAL BANK’S net profit as of November slipped compared to the previous year as gains from currency fluctuations decreased.

Fresh RRR cut to boost lending, economy

THE SURPRISE reserve requirement ratio (RRR) cut announced on Thursday by the central bank will free up more funds for loans, which can help boost the economy, according to Bankers Association of the Philippines (BAP) and Bank of the Philippine Islands (BPI) President Cezar P. Consing.

Banks maintain credit standards in third quarter

MOST BANKS kept their overall lending standards untouched for both enterprises and households, a central bank survey found.

Yields on term deposits up on government spending boost

YIELDS on term deposits slightly recovered on Wednesday amid improved government spending and market anticipation for yet another rate cut from the US Federal Reserve.

TDF yields decline on inflation outlook

YIELDS on term deposits continued to decrease on Wednesday on expectations of slower October inflation and following the International Monetary Fund’s (IMF) downgraded economic growth outlook for the country.

TDF yields down on hints of fresh RRR cut

YIELDS ON term deposits continued to decline on Wednesday on the back of slower inflation and chances of another cut in banks’ reserve requirement ratios (RRR).

BSP likely to cut policy rates this month

TARLAC — The central bank will cut benchmark interest rates as early as this month, with the regulator also studying when to implement further reductions to lenders’ reserve ratios.

BSP to move currency production facility to New Clark City

TARLAC — The Bangko Sentral ng Pilipinas will be transferring its currency production facility to New Clark City (NCC) as part of efforts to boost production of notes and in line with its continuity plan for operations in case of natural disasters.

PHL balance of payments position reverts to surplus in Q2

THE country’s balance of payments (BoP) — which shows the Philippines’ economic transactions with the world for a certain time frame — reverted to a surplus in the second quarter, on the back of the narrowing of the current account deficit in the period, as well as continued net inflows in the financial account.

Liquidity, lending growth pick up in July

MONEY SUPPLY growth quickened slightly in July even as demand for credit weakened, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday.

Faster spending, consumption to boost economic growth

FASTER state spending, slower inflation and robust overseas remittances are seen to boost economic growth this semester, according to the latest joint assessment by the First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P).

Bill seeks regulation of ATM transaction fees

THE Bayan Muna Party-list has refiled a bill regulating fees and charges on transactions done via automated teller machines (ATM).

Rediscount loans go up

BANKS CONTINUED to take out loans from the central bank’s rediscount window in July, with the credit going to commercial, production and other transactions.

Inflation eases in Q2, seen slowing further

THE BANGKO SENTRAL ng Pilipinas (BSP) said inflation settled at the midpoint of its target band in the second quarter, driven by improved domestic food supply conditions.

Banks keep lending standards steady in Q2

MOST BANKS kept their lending criteria little changed in the second quarter, results of a central bank survey showed.

Inflation slowest in almost two years in June

INFLATION eased in June to post its slowest reading in almost two years, the Philippine Statistics Authority (PSA) reported on Friday, giving more room for the central bank to continue loosening monetary policy.

Reserves climb for eighth straight month in June

GROSS international reserves climbed for the eighth straight month in June, the central bank reported Friday.

Liquidity, bank lending growth ease in May

MONEY SUPPLY growth eased in May due to lower demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported Friday.