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Diokno eyes around 50bps rate cuts in 2020

THE Bangko Sentral ng Pilipinas (BSP) may consider cutting rates by about 50 basis points (bps) in 2020, according to Governor Benjamin E. Diokno.

Term deposit rates drop

YIELDS ON term deposit mostly went lower with lenders awaiting the upcoming holidays and the policy stance of the central bank for its final policy meeting this Thursday.

Rediscount loans steady at end-November

BANKS DID NOT take out loans from the central bank’s rediscount window in November, according to data from the Bangko Sentral ng Pilipinas (BSP).

Dollar reserves hit $86.39B at end-November

THE country’s dollar reserves rose by $560 million from a month earlier to $86.39 billion at the end of November, giving the central bank enough buffer against liquidity shocks, the Bangko Sentral ng Pilipinas (BSP) said on Friday.

Fitch flags emerging asset quality issues for Philippine banks amid credit...

AMID A supportive economic environment in the Philippines, emerging asset quality issues may be hard to spot amid rapid credit growth, according to Fitch Ratings.

BSP: Inflation likely picks up in November

THE overall rise in prices of widely used goods likely quickened in November, the central bank said on Monday, citing higher electricity and fuel costs.

BSP orders banks to be on alert for Ponzi, other illegal...

AMID THE recent spate of illegal investment schemes that victimize people mainly in cities and towns outside the capital, the Bangko Sentral ng Pilipinas (BSP) has issued a warning to the public against being lured by high returns on their money and asked banks to be on alert for unusual financial activities.

Banks see economic growth at 6-7% within the next two years

THE BANKING INDUSTRY expects the economy to grow by 6-7% in the next two years, aligned with the government’s forecast, according to a survey by the Bangko Sentral ng Pilipinas (BSP).

BSP sees P28B in fresh liquidity from deposit substitute tweak

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno is positive that the change in the definition of deposit substitutes to exclude interbank borrowings so they are not subject to reserve requirements will help boost liquidity in the financial system.

BSP moratorium on fees affecting ATM density

THE PHILIPPINES is still behind its ASEAN neighbors in terms of automated teller machine (ATM) availability, according to estimates from the Bankers Association of the Philippines (BAP).

BSP excludes interbank borrowings from reserve requirement to free up more...

THE BANGKO SENTRAL ng Pilipinas (BSP) has moved to free up more funds for lending to productive activities, this time by removing interbank borrowings from classification as deposit substitutes subject to the reserve requirement.

BSP sees lag in effects of monetary easing moves

IT MAY TAKE a while before the financial system fully feels the impact of the easing moves implemented by the central bank this year, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, with its decision to hold steady to help it assess how the market is taking past cuts.

New lender looking to establish virtual bank in the Philippines

A LENDER is looking to join the virtual banking race in the Philippines, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi G. Fonacier.

Hot money reverses to net inflow in October

MORE foreign capital entered than left the country in October to yield a net inflow after two months of outflows, the central bank reported on Friday.

AMA Rural Bank employees refuse to turn over records to PDIC

CLAIMS of depositors of the closed AMA Rural Bank of Mandaluyong, Inc. will be delayed as the bank refuses to turn over its records to the Philippine Deposit Insurance Corp. (PDIC).

Rediscount loans rise in October

LOANS TAKEN OUT by banks from the central bank’s rediscount window rose in October from the previous month, data from the Bangko Sentral ng Pilipinas (BSP) showed.

There’s room for another BSP rate cut in 2020: MUFG

THE Philippine central bank might further cut benchmark interest rates next year as the economy continues to pick up amid global conditions, according to Leong Sook Mei, Association of Southeast Asian Nations head of Global Markets Research at MItsubishi UFJ Financial Corp.

Islamic banking rules to be OK’d this month

THE central bank is likely to approve this month the rules that will enforce Islamic banking in the Philippines, which is expected to attract more local and foreign banks, Bangko Sentral ng Pilipinas (BSP) Managing Director Arifa Ala said on Friday.

Reserves hit $85.7B at end-Oct.

GROSS INTERNATIONAL reserves (GIR) — which shield the country from liquidity shocks — strengthened further at end-October, the Bangko Sentral ng Pilipinas (BSP) said on Thursday.

BSP invests $150 million in BIS green bonds

THE BANGKO SENTRAL ng Pilipinas (BSP) has invested $150 million in the open-ended green bonds launched by the Bank of International Settlements (BIS).

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.

S&P sees two more rate cuts until 2021

THE PHILIPPINES, together with neighbor Indonesia, may cut benchmark rates twice over the next two years, S&P Global Ratings said.

BSP to monitor banks’ response to fresh RRR cuts

THE BANGKO SENTRAL ng Pilipinas (BSP) will monitor how banks will respond to the pre-announced reserve requirement ratio (RRR) reductions taking effect next month, an official said.

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.

Bangko Sentral set to circulate new P20, ‘enhanced’ P5 coins

THE BANGKO SENTRAL ng Pilipinas (BSP) is set to circulate a new version of the five peso coin to address confusion with other New Generation Currency (NGC) coins as well as a new P20 coin.

BSP boosts lending transparency measures

THE BANGKO SENTRAL ng Pilipinas has boosted its measures towards lending transparency, now mandating non-bank financial players to ensure consumers are informed about their services via various modes of communication, such as social media.

Rediscount loans drop

LOANS taken out by banks from the central bank’s rediscount window fell in September from the previous month, central bank data showed.

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).

Fitch Solutions sees PHL loan growth rebounding on BSP rate cuts,...

FITCH SOLUTIONS expects banks’ loans to grow faster this year following the Bangko Sentral ng Pilipinas’ (BSP) move to ease policy settings and on the back of consumer and corporate borrowings.

Gov’t makes full award of bonds as yield ends flat on...

THE GOVERNMENT made a full award of the reissued three-year Treasury bonds (T-bond) it auctioned off yesterday following monetary easing moves by the Bangko Sentral ng Pilipinas (BSP) last week and amid easing inflation.

Liquidity, bank lending growth ease in August despite demand

MONEY SUPPLY growth eased in August despite continued demand for credit, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.

BSP cuts banks’ reserve requirement further

THE BANGKO SENTRAL ng Pilipinas (BSP) on Friday announced a 100-basis point reduction in banks’ reserve requirement ratio (RRR), to take effect at the start of November, setting the stage for the release of more funds for lending for productive economic activities.

TDF yields up on RRR cut expectations

TERM DEPOSIT yields saw a slight uptick on Wednesday as the market anticipates the cut in lenders’ reserve requirement ratios (RRR) will come later.

How should banking and finance sector align with FIRe

Winning together in the fourth industrial revolution By Adrian Paul B. Conoza, Special Features Writer As the banking and finance sector braces for developments in time for...

BSP rate cut expectations mount

STATEMENTS by Bangko Sentral ng Pilpinas (BSP) Governor Benjamin E. Diokno that another 25 basis point reduction in benchmark interest rates will be considered at the Monetary Board’s sixth policy review for the year on Sept. 26 — Thursday next week — has led private sector economists to expect more moves soon to unravel last year’s tightening.

BSP to issue P20 coins

THE central bank will issue P20 coins starting December to cut costs, Bangko Sentral ng Pilipinas Governor Banjamin E. Diokno said on Friday.

TDF yields mixed on geopolitical concerns

TERM DEPOSIT yields were mixed on Wednesday on the back of an escalation of oil prices brought about by worries from the attack on Saudi Arabia’s oil facility.

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.

BSP streamlines guidelines for voluntary surrender of licenses

THE Monetary Board (MB) has approved streamlined guidelines on the voluntary surrender of banking licenses.

Hot money returns in July

MORE foreign capital went into the country in July to yield a net inflow, snapping four consecutive months of outflows, the central bank reported on Thursday.

Yields on term deposits decline following BSP’s policy rate cut

YIELDS ON term deposits dropped further on Wednesday as demand increased after the policy rate cuts implemented by the central bank last week.

Less than 10 banks looking to adjust ATM fees BSP

THE BANGKO SENTRAL ng Pilipinas (BSP) has received “below 10” applications from banks for adjustments of fees for transactions coursed through automated teller machines (ATM) after the moratorium on such tweaks was lifted last month, a senior official said on Wednesday.

BSP sees no immediate hike in ATM fees as moratorium ends

THE CENTRAL BANK chief quelled market speculations of an impending hike in fees for transactions conducted through banks’ automated teller machines (ATMs).